President Samia meets Nigerian businessman Aliko Dangote at State House, Dar es Salaam.
Dar es Salaam. President Samia Suluhu Hassan’s pro-business approach is increasingly attracting investors, with the latest one being Africa’s richest man, Mr Aliko Dangote.
Mr Dangote, whose net wealth is estimated to be $11.1 billion, held discussions with President Hassan yesterday where he pledged to continue investing in Tanzania.
With his cement firm in Mtwara, Mr Dangote has already injected $770 million (Sh1.76 trillion) into Tanzania’s economy.
During the meeting Mr Dangote pledged to diversify his investment from cement production to other areas, thanks to the improved business environment.
A State House statement, signed by the Director of Presidential Communications, Mr Gerson Msigwa, said yesterday that Mr Dangote plans to construct a fertilizer factory (without giving more details).
“The President wants more investors in the country in order to create more jobs and improve the national economy. We pledge to continue investing massively in Tanzania,” he said in the statement.
With the current changes and improvements in the business environment in Tanzania, Mr Dangote said he will invite his fellow investors to come and inject their money in the country.
President Hassan appreciated his commitment, assuring him and other investors of her government’s full support and security of their projects.
She directed the minister for Investment, Mr Geoffrey Mwambe, his Industry and Trade counterpart Prof Kitila Mkumbo and deputy minister of Finance and Planning, Mr Hamad Masauni to resolve the challenges facing the Dangote’s Cement Factory so that it can continue with its operations and bring the expected results.
Mr Dangote joins the growing list of prominent individuals in the business, economic and political cycles who have called a courtesy call on the President since she assumed power on March 19, 2021 following the death in office of her predecessor, the late John Magufuli on March 17, 2021.
President Hassan has been holding meetings with key players in the international economy, foreign traders and visiting neighbouring countries like Uganda and Kenya.
The President’s approach of meeting personally with the heads of state and those of bilateral organisations is a way to open up and strengthen Tanzania diplomatic relations and reinforcing her political influence across the region is now repairing ties with the outside world.
Earlier this month, former Nigerian President Olusegun Obasanjo visited President Hassan and held talks with her.
Her two-day state visit to Kenya also witnessed Tanzania signing a natural gas pipeline deal from Dar es Salaam to Mombasa and the leaders from the two countries resolved to clear trade hurdles to increase cross-border trade, by removing some non-tariff barriers.
In April, President Hassan also visited Uganda where she signed the East Africa Crude Oil Pipeline (EACOP) deal and assured to strengthen strategic partnership and cooperation between the two countries and forge further regional integration and people’s interaction. Uganda President Yoweri Museveni was also in the country last week to witness the signing of the Host Government Agreement (HGA) between Tanzania and companies behind the EACOP project.
On several occasions, the country’s first female Head of State says her target is to regain trust of investors by tackling the hurdles investors face in their businesses.
Other meetings that showed the President’s resolve on diplomatic nurturing were the recent meetings she held with the Co-chair of International Monetary Fund (IFM) Kristalina Georgieva.
At that meeting, the President assured the IMF boss that the sixth phase government will cement the cooperation between the two for the economic betterment of Tanzanians.
The organization said it was ready to start processing funding requests made by Tanzania to relieve the effects of the pandemic on multiple sectors.
On April 19, President Hassan also met Mara Warwick, the World Bank’s country director for Tanzania, Malawi, Zambia and Zimbabwe, at the Chamwino State House in the capital of Dodoma.
The President pledged her country’s strengthened cooperation with the World Bank, saying the bank was a catalyst for economic development.
“The World Bank is supporting Tanzania in improving social services such as education and health, and in improving the infrastructure,” she said.
while urging the World Bank to continue working with Tanzania towards building an economy that will transform the citizens’ welfare.
Ms Warwick said the World Bank had previously approved loans to the tune of $4.9 billion for supporting various development projects in the country, making Tanzania among the leading recipients of the bank’s funding.
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