Government lists benefits of Samia’s Saudi Arabia, Morocco visits
President Samia Suluhu Hassan poses for a photo with the Chief Executive Officer of the Saudi Fund for Development Sultan Abdulrahman Al-Marshad (L) and ambassador of Saudi Arabia in Tanzania, Yahya Ahmed Okesh in Riyadh, on November 10, 2023.
What you need to know:
- Tanzania will also be a beneficiary of the $533 million worth of agreements that the Saudis entered with African countries under the Saudi Fund for Development
Dar es Salaam. President Samia Suluhu Hassan’s diplomatic tours to Saudi Arabia and Morocco opened doors for untapped investments in agriculture and business.
Providing a briefing of the tours at the State House yesterday, the director of Presidential Communications, Ms Zuhura Yunus, said several Saudi companies were interested in establishing animal feed factories in Tanzania.
President Hassan was among the African leaders who gathered in the Saudi capital, Riyadh, on November 11, 2023, for the first Saudi-African Summit.
Ms Yusus said during the tour the government noticed an opportunity to expand its meat exports to Saudi Arabia due to the surge in demand.
“The move comes as Somalia successfully exports nearly 500,000 metric tonnes of meat to the Saudis, so the country saw an opportunity for our meat exports,” she said.
According to the minister for Livestock and Fisheries, Mr Abdallah Ulega, Tanzania exports just 1,400 metric tonnes of meat to Saudi Arabia, while their market demand requires at least 20, 000 metric tonnes a month.
Ms Yunus also said there are manufacturers such as the Almarai Company and the Crown Agriculture who have shown interest in establishing animal feed industries.
“The two countries also signed two Memoranda of Understanding (MoU), one on the job market for housekeepers and jobs as well as the Sh32 billion loan for the energy project in the Benako-Kyaka power project,” said Ms Yunus.
Tanzania will also be a beneficiary of the $533 million worth of agreements that the Saudis entered with African countries under the Saudi Fund for Development (SFD).
President Hassan was also part of the panellists who discussed Accelerating Africa’s Economic Transformation during the 2023 Africa Investment Forum Market Days taking place in Marrakech, Morocco, from November 8–10, 2023.
According to the state house, there were also side discussions with experts from Tanzania and foreign stakeholders on bankable projects in the country. Ms Yunus revealed that some of the projects that captured the interests of investors include the Mangapwani Multi-purpose Port in Zanzibar.
Zanzibar minister for Finance, Dr Saada Mkuya, said the port involves the construction of berths for liquid bulk goods, containers, fishing vessels, natural gas offshore services, and workshop facilities.
“For a country like Zanzibar, which is surrounded by the ocean, our economy depends on it, and all our key focus projects are around that, including the ports and other infrastructure that connect the mainland to the ocean,” she said.
Dr Mkuya said the implementation of the project will start with the container berth and will be a mainly smart-operated port with 200 direct jobs and 1000 indirect jobs.
Tanzania Investment Centre’s (TIC) director of investment promotion, Mr John Mnali, said from July to September this year the centre registered 137 projects, while last year during the same period only 82 projects were registered.
“These 137 projects are expected to create 86,900 jobs, while last year’s projects created 12, 000 jobs. President Hassan’s tours provided a platform for us to have smooth follow-ups on investments and business interests,” he said.
