US firms explore investment opportunities in Tanzania

Dar es Salaam. At least 19 US companies are expected to be in the country later this month to explore investment opportunities, both in the mainland and the Isles, the US Embassy in Dar es Salaam and its Commercial Service said in a statement on Tuesday.

The two-day fact-finding mission in the country is expected from September 27, and will be looking into trade and investment potential, a statement said.

The 19 firms have significant US operations or investment with a total market capitalisation of over $1.6 trillion. “We want to introduce American firms to the potential offered by the Tanzania Mainland and Zanzibar markets,” reads a part of the statement.

The mission will be led by the US Embassy in Dar es Salaam, in collaboration with the American Chambers of Commerce, ‘AmCham’ of Tanzania, Kenya and South Africa.

AmCham Kenya’s chief executive officer (CEO) Maxwell Okello said members were excited about the business potential and new opportunities opening up in Mainland Tanzania and the Isles.

“Members are interested in agribusiness, energy, healthcare, infrastructure, ICT, manufacturing and other industry sectors,” he said.

According to him, the firms are seeking to better understand the market and how they can participate in the available opportunities.

“This mission provides an excellent avenue to gather insights and engage directly with relevant government and private sector stakeholders,” Mr Okello said. He added: “It is also a great opportunity for both countries to explore ways to deepen their commercial ties and engagement which supports achievement of economic goals driving wealth and job creation.”

During a two-day tour, company representatives will interact with Tanzania and Zanzibar government officials, receive US Embassy briefings, engage with Tanzanian private sector leaders, and receive insights from US firms operating in Tanzania.

The US companies operating in Tanzania which are expected to participate in the event include; Abbott Laboratories, Alliance One Tobacco Tanzania Limited, Baker Hughes and Becton Dickinson.

Others are, Burn Manufacturing, Citi, Cisco, Coca-Cola, FAS Authentication, GE, Hid Global, Honeywell International Inc., Integrated Biometrics, Koko Networks, Parallel Wireless Inc, Procter & Gamble, Reinke S.A, Roche and Wasoko.

The companies will be joined by representatives from the US Agency for International Development, US Commercial Service Liaison to the AfDB, US Department of Commerce, US Department of State and the US Trade Development Agency.