Tanzania: “Promoting inbound and outbound investments”

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TANZANIA businessmen have called on the government to support them in promoting inbound and outbound investment, saying the move will reward the commodity-rich country.

They argued that Tanzanians are able to set up investment firms outside the country, where they will capitalize on the raw materials available in Tanzania to produce and supply various products.

Amimza Coffee Products of Tanzania President Amir Esmail said the time has come for more Tanzanian businessmen to have access to investments outside the country, especially in Europe.

Mr. Esmail made the call during a brief summary of Tanzania’s participation in the recently concluded Turkey-Africa Economic Affairs Forum (TAEBF) at the Istanbul Congress Center (ICC) in Istanbul, in Turkey. The briefing was chaired by the Minister of Industry and Trade, Professor Kitila Mkumbo.

Mr. Esmail said Tanzanian businessmen are able to invest in Turkey, including coffee products from Tanzania, without distorting its originality.

“When we come to attend forums of this nature, it is equally important that the government seek out investment opportunities abroad, to enable Tanzanians to invest abroad … it can be done,” he said. he declared.

He specifically said that his business, which started in 1994 when it was selling green beans before moving into the production of premium instant coffee, was able to set up businesses in Turkey.

“In 2015 our new instant coffee factory was completed, and today it is the largest instant coffee factory in East and Central Africa … we want to expand our wings in Europe, starting with Turkey . I would like to have a warehouse here because Turkey is advanced in technology. They have machines and spare parts, we can bring our products here and process them from here, “he said. to the minister.

He added; “Tell them to help Tanzanians get access to investment in Turkey. We are able to invest here by producing Tanzanian instant coffee, labeled as a Tanzanian brand and supplying it to all over the world,” Esmail said.

Coffee in Tanzania is cultivated by over 450,000 farmers. Arabica beans are grown on the slopes of Mount Kilimanjaro and in several other parts of the country, while Robusta is grown in the western part of the country, along Lake Victoria.

Coffee beans from Tanzania are of world quality and create the distinctive taste of many instant coffee products that are drunk from Dubai to Dubrovnik.

Another entrepreneur, Kenneth Woiso, who is the managing director of Woiso Original Products Company, said attending the forum was another eye-opener for him.

“We have learned a good lesson here, we have made several agreements with Turkish businessmen and those from other countries,” he said.

He suggested that the government should put all its weight in supporting the Small Industries Development Organization (SIDO), so that it operates efficiently and helps entrepreneurs produce quality products. He said that some products made in Tanzania are poorly finished and therefore fail to attract buyers.

Woiso was among 100 businessmen from Tanzania, who were supported by CRDB Bank in collaboration with Go Extra Mile Safaris to attend the forum.

He spoke about his success story, saying his company has been successful in adding value to leather products, producing quality shoes and other products for import and export.

Rehema Mwanisongola, importer and exporter of agricultural equipment, said it has entered into several agreements to expand its business. She congratulated the government, CRDB Banka and Go Extra Mile Safaris for their massive support.

“Tanzanian entrepreneurs are making good progress and in fact we are here to seek partnership with Turkish businessmen, who have advanced in technology, skills and market scope. Our aim is to keep growing. We have learned new ideas and new technologies and this will greatly help our businesses to grow, ”she said.

For his part, Minister Mkumbo called on businessmen to make good use of the opportunities and lessons learned from their counterparts who are advanced, especially in technology, so that they develop their businesses.

“I hope you took this opportunity to learn and network so that upon your return home the company you run goes the extra mile and in doing so the government also benefits from tax collection. “said Professor Mkumbo.

He also praised the initiative of CRDB, congratulating the lender, saying the safari came at the right time.

CRDB’s head of business banking, Toyi Ruvumbagu, said the lender continues to show its willingness to support the industrial and commercial sector and that this trip is very beneficial for businesses and the country as a whole.

“The safari, in addition to continuing to strengthen the commercial ties between our two countries, is also very beneficial for our traders who, in addition to attending trade fairs, will also have the opportunity to visit various factories in Turkey”, Ruvumbagu said.

The CRDB granted a subsidized and friendly loan to traders to enable them to participate in the forum without affecting the company’s cash flow.

Go Extra Mile Safaris, Managing Director, Diana Gasper, thanked the government and CRDB for cooperating with them in organizing the safari which was important to Tanzanian businessmen.

“We are very grateful to the government and CRDB for cooperating with us in organizing the safari for our Tanzanian businessmen who are in desperate need of such opportunities to learn and expand marketing opportunities beyond our borders.” said Ms. Diana.


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