Redefining cooperation between Norway and Tanzania

Norway and Tanzania recently marked six decades of diplomatic relations with a vibrant business event hosted at the Norwegian Residence in Masaki, Dar es Salaam.

Sixty years of bilateral ties, originally focused on development cooperation, have blossomed into evolving partnerships fostering business growth.

Norway supports Tanzania’s ambition to become an upper-middle-income country. Priority sectors such as climate change, energy, agriculture, the environment, and good governance are essential for achieving this goal areas where Norwegian expertise is highly valued.

“Previously we focused on development aid and technical assistance. Times have changed. In line with the new Norwegian Government’s Strategy for Africa, we want to build partnerships in selected areas – like climate change in Tanzania. And we are focusing more on trade and investments,” said Norwegian Ambassador to Tanzania, H.E. Tone Tinnes.

Highlighting the growing partnerships between Tanzania and Norway, H.E. President Samia Suluhu Hassan visited Norway earlier this year in February, for a state visit aimed at strengthening diplomatic ties.

During her visit, the President also engaged with Norwegian companies at an exclusive business forum in Oslo, showcasing Tanzania’s investment opportunities. According to Ambassador Tinnes, such meetings are crucial for exploring new areas of cooperation between the Nordic countries and Africa.

Discussions focused on rebuilding partnerships and targeting emerging niche markets for investment. As 60 years of relations are commemorated, Norway looks to revitalize trade and investment flows between the two countries.

“Have trade and investment cooperation between Norway and Tanzania reached the levels we want to see? No. Are we dedicated to changing it? Yes!” said Ambassador Tinnes.

The Norwegian Embassy plans to convene a business roundtable in January to discuss the business climate, energy, and Norwegian expertise in Tanzania. The aim is to encourage more Norwegian investments in the country.

Norwegian Businesses in Tanzania

The Norwegian Company Wakandi is already a licensed entity in the Tanzanian market from the likes of Bank of Tanzania and Tanzania Communications Regulatory Authority and have been in the market for a few years.

They are now venturing into the Microfinance space. Telenor Linx, and Skanem are new entrants to the market and further strengthening Norwegian business ties with Tanzania.

Wakandi: Innovating Financial Solutions

Wakandi, a fintech company for cooperatives and Microfinance Institutions (MFIs), sees numerous opportunities for growth in Tanzania’s dynamic business environment.

Wakandi is working towards becoming a global leader in creating equal financial opportunities. On the road to achieving this, they recognise their responsibility to take into account the impact their business has and can have.

Wakandi Group CEO, Espen Kvelland states that they have spotted exciting growth opportunities in Tanzania. He then added: “Wakandi, is a rapidly growing Fintech Company known for its innovative approach to mobile money and digital payments.

We have officially also opened up our business towards Microfinance, not only Savings and Credit Co-Operative Society (SACCOS), with ambitious plans to revolutionise the way Tanzanians interact with money through their Savings and Credit Co-Operative Society (SACCOS) or MFI”.

With the country’s thriving mobile phone penetration and a rapidly digitalizing economy, Wakandi believes it is poised to tap into an underserved market, while bringing new solutions to the forefront of East Africa’s digital revolution.

The company started in Tanzania targeting the Savings and Credit Cooperative Organisation (SACCO) space and are now also based in Kenya and Uganda. They are partnering with NMB, Airtel Money, TigoPesa, Safaricom, large organisations such as football clubs and TAMFI for broader expansion.

The Group CEO is happy about the Government’s crackdown on unlicensed digital lenders and suggests that every fintech should have a digital system that can be leveraged by customers for efficiency.

Telenor Linx: Expanding Digital Horizons

Telenor Linx, a key player in the global telecommunications sector is seeking for strategic partnerships with other Telcos in the Tanzanian market, with a goal to reshape the country’s digital landscape.

Telenor Linx has recently been selected by Google as one of the few trusted global integrators to enable Direct Carrier Billing (DCB) as a payment option in the Google Play Store and aims to tap into the growing demand for digital services in East Africa’s second-largest economy.

As Tanzania continues its technological transformation, Telenor Linx sees the country as a gateway to further expansion in the region through strategic partnerships with the existing mobile operators.

Andrew Ndambuki, Sales Director at Telenor Linx states that they have tapped the Tanzanian market for collaboration with local telecoms for specific market segment needs.

“Tanzania’s economic growth, smart phone penetration, internet adoption, and the rising demand for digital services makes it attractive for us to stretch our wings to this market,” he noted.

Skanem: Redefining Labeling and Packaging

Site Manager, Sameer Gaikwad, states that Tanzania’s manufacturing sector offers fertile ground for Skanem’s high-quality, sustainable labelling and packaging technologies, which are poised to revolutionize local industries and cater to the growing demand for consumer products.

“If you have come across any label on cosmetics, drugs, food and other items in the supermarkets they are proudly our marks. We have invested a lot in this growing industry.”

Partnering for Financial Inclusion

The Tanzania Association of Microfinance Institutions (TAMFI) has partnered with Wakandi to enhance the efficiency of Microfinance Institutions (MFIs).

“We are happy to partner with this fintech, whose data-driven and affordable platform helps MFIs streamline their operations,” said TAMFI Chair- person. This partnership benefits both par- ties, boosting Wakandi’s profitability and enabling TAMFI to improve service delivery for small businesses and individuals underserved by traditional banking services.

As Norway and Tanzania continue to deepen their partnership, these business collaborations signal a promising future for mutual growth and development.