Invest at home, TNBC urges Tanzanians working abroad

Dar es Salaam. The Tanzania National Business Council (TNBC) has urged Tanzanians in diaspora to invest at home and encourage people in countries they live in to bring their investments to Tanzania.

Speaking in a special programme aired by the US-based Radio Kilimanjaro, TNBC executive secretary Goodwill Wanga said Tanzania has a friendly and pro-investment environment, and that the climate for doing business has improved significantly in recent months.

“It is high time Tanzanians living outside the country realised this fact. Our Diaspora should be our ambassadors in promoting our business and investment attractions, and persuade investors to invest in Tanzania so that the country can make big development and economic strides,” he said.

Tanzania, Dr Wanga added, has investment and business opportunities in various areas, including tourism, physical infrastructure, agriculture, health centres, bus rapid transit infrastructure, and business parks.

He called on the Diaspora to cooperate with the government and invest in areas of their choice to create jobs for Tanzania’s youth, and contribute to the growth of the national economy.

Dr Wanga explained that big strategic projects such as the standard gauge railway (SGR) and Julius Nyerere Hydropower Project (JNHP) are meant to create conducive investment conditions for people interested in investing in the hospitality industry.

Tanzania Diaspora Hub (TDH) chairman Nassor Basalama said TDH members are studying Tanzania’s investment opportunities.

He said TDH has the responsibility of making sure their members invest in Tanzania, and contribute to national economic growth.

Mr Basalama commended the government for effecting helpful and favourable investment reforms and pro-business changes.

“We commend the government for undertaking these reforms. They give us strength and vigour to persuade and encourage our members and other people to invest in Tanzania,” he said.

Tanzania Private Sector Foundation (TPSF) executive director Francis Nanai said TPSF is the link between members of the private sector and the government, adding that the foundation recognises the Diaspora as part of the private sector.

He said TPSF has put in place an information system that enables the Diaspora to know investment opportunities in Tanzania, and make informed decisions.

He called for cooperation between the TPSF and the Diaspora saying such cooperation will spur foreign invest flows into Tanzania for the good of the nation.