Tanzania seeks multi-billion investments ahead of AGRF 2022 Summit

Tanzania Investment Centre (TIC) wants delegates to the five-day AGRF Summit 2022 – which starts in Kigali tomorrow (September 5, 2022) – to be aware that Tanzania was one of the best and most attractive destinations for agriculture value chain investments, thanks to an enabling environment and the existing incentive structure.

The East African nation seeks to become an industrialised economy and logistics hub for Africa.

To reach semi-industrialised status by 2025, Tanzania was currently implementing the Tanzania Agro-Industries Development Flagship (TAIDF) programme, among other flagships.

Budget Estimates for TAIDF (2021-2026) are $2.989 billion, of which the Government and Development Partners will contribute a total of $320 million.

Investment from the private sector, including farmers, primary processors and agro- industrialists, is expected to top up at $2.669 billion in six years.

According to the Acting Permanent Secretary, Ministry of Investment, Industry and Trade, Mr Ally Gugu, Ministry of Industry, Investment and Trade, Tanzania was promoting competitive, inclusive and sustainable investment in the agriculture sector.