TIB seeks regional financing to advance Tanzania's Vision 2050 goals at SADC industrial forum

Durban. Tanzania Investment Bank (TIB) has called for stronger collaboration among development finance institutions across the Southern African Development Community (SADC) to mobilise capital for industrial projects that will accelerate economic and social development across the region.

Speaking on the sidelines of the 9th SADC Industrialisation Week at the International Convention Centre (ICC) in Durban, South Africa, TIB chief executive officer Mr Deogratius Kwiyukwa said regional financial financial institutions should combine resources to finance large-scale development projects.

He said TIB was participating in the forum to explore partnerships with development finance institutions across the SADC region to mobilise capital for strategic projects that will support the implementation of Tanzania's Development Vision 2050, which aims to grow the country's economy to $1 trillion by that year.

Mr Kwiyukwa said industrialisation, particularly through value addition in agriculture, critical minerals and other productive sectors, requires substantial long-term investment.

He noted that Tanzania has already invested heavily in strategic infrastructure, including the Standard Gauge Railway (SGR), ports, energy and roads, and that the next priority is to ensure these assets support industrial growth.

According to him, integrating transport, energy and industrial infrastructure with special economic zones, mining areas, agricultural production centres and export markets would strengthen the country's industrial base.

Mr Kwiyukwa said TIB, working with other regional development finance institutions, could finance entire industrial ecosystems built around key infrastructure, including industries along the SGR corridor, logistics and warehousing linked to ports, and energy-intensive manufacturing supported by reliable electricity.

He said the bank has already provided affordable financing to industries and public sector projects, including coffee and sugar processing as well as water infrastructure, adding that increased capitalisation would enable TIB to expand its development financing.

Several participants at the forum expressed interest in Tanzania's investment opportunities and indicated they would seek further information on potential projects.

The 9th SADC Industrialisation Week has brought together government leaders, private sector representatives, investors, financial institutions, experts and development partners from across the region under the theme: "Advancing Industrialisation, Agricultural Transformation and Energy Transition for a Resilient SADC."

Discussions at the forum have focused on strengthening regional integration, promoting value addition before the export of minerals and other resources, and mobilising investment in industry, infrastructure and development projects.