This was said on Wednesday September 28, by President Hussein Mwinyi, in a speech read by the First Vice President, Othman Masoud at the opening of the business and investment forum organized by the Italian embassy in Zanzibar.
Dr. Mwinyi said that the investment have been registered since 2020 and he used the opportunity to welcome local and foreign investors to take advantage of the opportunities available on the islands in the fishing, infrastructure, tourism and oil and gas sectors.
“We would like to welcome all investors to the available opportunities, because Zanzibar is a good place, it has generous people. Come and invest, there are many commercial opportunities,” said Mwinyi.
He added: After amending the Investment Act in 2018, Pemba Island is now recognised as a strategic investment area, so investors can enjoy all the opportunities available.
According to the Minister in the Office of the President, Labour, Economy and Investment, Mudrik Soraga the Italian embassy has provided more than $600 million to boost the blue economy sector which will be used to provide training to promote production.
He said that strengthening cooperation between Zanzibar and Italy is one of the things that will bring good results for the people to get rid of poverty and increase the national income.
Tanzania’s ambassador to Italy, Mahmoud Thabit Kombo said that the opportunities have brought practical success where the investors have focused more on agricultural tourism in order to preserve the crops for a long time.
On the other hand Italian ambassador to Tanzania Marco Lombardi said they will continue cooperating with Tanzania in order to strengthen investments.
The Zanzibar National Chamber of Commerce (ZNCC) chairman, Ali Amour said the one-day forum has opened opportunities for businessmen to increase their motivation to open up new factories to promote production.
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Tanzania: Samia Hands Over NBC’s 354m/ – Crop Insurance Compensation to Farmers Affected By Hailstorms
President Samia Suluhu Hassan, has handed over a cheque of 354m/- from the National Bank of Commerce (NBC) as compensation to tobacco farmers, who were affected by hailstorms during the previous farming season in various regions across the country.
Handing over the cheque in Dodoma, the compensation is part of the crop insurance service provided by NBC in collaboration with the National Insurance Corporation (NIC).
Furthermore, President Samia has also handed over health insurance coverage to members of the Lindi Mwambao Cooperative Union based in Lindi Region, through the Farmers’ Health Insurance service provided by the bank in partnership with Assurance Insurance Company.
While visiting the bank’s pavilion at the Nanenane Agricultural Exhibition and being received and briefed by the bank’s Managing Director, Mr. Theobald Sabi, she said: “This crop insurance is one of the crucial solutions in ensuring farmers have a reliable income, without fear of challenges such as natural disasters, including hailstorms.
“I call upon all farmers in the country to make the best use of this important opportunity by accessing these kinds of insurance services. I also highly commend NBC and all the stakeholders participating in this programme.”
Elaborating further on the crop insurance service, the Minister of Agriculture, Hussein Bashe, stated that it will help to recover the loss farmers incurred, especially in various calamities beyond their control.
Citing them as floods, fires, and hailstorms, which have significantly affected the well-being of farmers and caused some to be reluctant to invest in the crucial sector, Mr Bashe added: “However, our President, this step by NBC is just the beginning, as this is the second year since they started offering this service, and the results are already visible.
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“As the government, we promise to continue supporting the wider implementation of this service, with the goal of ensuring that this crop insurance service reaches more farmers.”
ALSO READ: NBC participates in TFF 2023/24 awards, promises to enhance competition
On his part, Mr Sabi said that the farmers who benefited from the compensations are from 23 primary cooperative unions in the regions of Shinyanga, Geita, Tabora, Mbeya, Katavi, and Kigoma.
He added: “In addition to these insurance services, as a bank, through this exhibition, we have continued with our programme of providing financial education and various banking opportunities to farmers, alongside offering them various loans, including loans for agricultural equipment, particularly tractors, to eligible farmers.:
At the NBC booth, President Samia also had the opportunity to be briefed on the various services offered by the bank to the farmers namely crop insurance and health insurance services.
There, the President had the chance to speak with some of the beneficiaries of the services, including the Vice-Chairman of the Lindi Mwambao Primary Cooperative Union, Mr. Hassan Mnumbe, whose union has been provided with a health insurance card from the bank.
Source: allafrica.com
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