Lorry owners ready to invest in BRT, call for simplified investment process

Dar es Salaam. The Tanzania Medium and Small Truck Owners Association (Tamstoa) has urged the government to streamline the processes required for investing in large-scale infrastructure projects such as the Bus Rapid Transit (BRT) system.

The association emphasised that simplifying these procedures would encourage more local investors to participate in such transformative initiatives, ultimately boosting economic growth and enhancing public transport services across the country.

Tamstoa shared the argument on Friday, November 22, 2024, during a stakeholders meeting organized by the Public Private Partnership Center (PPPC).

Tamstoa’s Chairman, Mr Chuki Shaban said during the meeting that stakeholders have a strong desire to invest in the BRT projects, but the investment process takes a long time to allow investors to invest in such projects.

“Our association has a total of 1200 members therefore, if we are told to purchase 500 BRT buses, we are ready to invest and bring them in as early as tomorrow,” he said.

PPP’s Executive Director, David Kafulila said that the process to acquire BRT buses for phase one and two was currently going on well.

Mr Kafulila said investors have been found, noting that PPPC welcomes transporters including Tamstoa and other local firms to consider this as a huge opportunity to invest in BRT Phase III.

“BRT project has six phases, and the ongoing construction of BRT phases is currently going fast, thus we encourage local investors to grab the opportunity and invest in the project,” he said.

Regarding the investment process, Mr Kafulila said PPPC has various arrangements that could enable local and foreign investors to engage in big investment projects, which includes proposal, solicited, unsolicited, and direct negotiation.

“PPPC is willing to support and unlock challenges that could be faced by investors intending to invest in various projects. The Public-Private Partnership Act revised in 2010, allows the public sector to partner with private entities in the implementation of various projects,” he said.

He emphasized that Tamstoa members could seize the opportunity by organizing themselves into a well-established company registered with the Dar es Salaam Stock Exchange (DSE).

The PPPC boss Kafulila revealed that over 80 strategic projects are in the pipeline, providing opportunities for local investors to collaborate with foreign partners under unsolicited arrangements or even propose projects outside the documented opportunities.