Angolan investors eye Tanzania for business opportunities
What you need to know:
- With ongoing improvements in Tanzania’s investment climate, officials anticipate that more Angolan businesses will follow suit, fostering stronger economic ties between the two nations.
Dar es Salaam. Tanzania’s favourable business environment and recent economic reforms have attracted eight investors from Angola, who plan to invest in key sectors such as agriculture, technology, mining, and infrastructure.
Despite over a decade of diplomatic relations between the two nations, only one project has been registered with the Tanzania Investment Centre (TIC).
This situation has led a delegation of Angolan investors to visit the country to explore potential business opportunities.
“Currently, there is only one registered project, but the government has improved investment policies and provided numerous incentives for investors. This is why businesspeople from Angola see the opportunity to invest in Tanzania, expecting the number of projects to increase,” said Mr Felix John, the Investment Promotion Manager at TIC.
On Monday, February 3, Mr John revealed that the delegation consists of senior executives from leading Angolan companies, who have already begun discussions with local entrepreneurs. This highlights Tanzania’s growing potential as an investment destination.
Mr Ariclene Gomes, a board executive of TEGMA-SU LDA, expressed his enthusiasm for the initiative.“We are delighted to be part of this delegation aimed at fostering economic growth. We arrived on Friday and have already held discussions with the Ministry of Foreign Affairs.”
He noted that his company, which specialises in chip manufacturing, sees significant potential in Tanzania’s agriculture and agro-processing industries. Additionally, he mentioned that the Angolan government is actively promoting investment in tourism, and the delegation is eager to learn from their Tanzanian counterparts.
“We are here to collaborate with Tanzanian companies and contribute to economic growth,” Mr Gomes stated.
He further emphasized the need for greater business engagement between the two countries.
“The fact that only one company has been registered with TIC reflects a minimal impact, and we aim to change that. We are prepared to make a significant contribution by investing in tourism, hospitality, construction, and agriculture.,” he said
We appreciate the warm welcome and hope to commence investments within the year.”
With ongoing improvements in Tanzania’s investment climate, officials anticipate that more Angolan businesses will follow suit, fostering stronger economic ties between the two nations.
