Morocco Sign MOU with Tanzania Investment Centre

Tanzania Morocco

The Moroccan Center for Export Promotion (Maroc Export) and the Tanzania Investment Center (TIC) signed a Memorandum of Understanding for Cooperation during the 2nd Edition of African Business Connect, held in Dar Es Salam on 5th April 2017.

“We have signed economic agreements with Tanzania. These are necessary for the growth of trade among African countries,” said the Moroccan ambassador to Tanzania, Mr Abdillah Benr Yane.

Organized by Maroc Export and BMCE Bank of Africa to boost exchanges between public and private Moroccan-Tanzanian actors, the event received more than 300 participants from both countries.

The inaugural session was graced with the presence of a wide range of officials and representatives of various organizations, including Pr. Adolf MKENDA, Permanent Secretary of the Ministry of Trade and Investment of Tanzania, Mrs. Zahra MAAFIRI, General Manager of Maroc Export, Mr. Godfrey SIMBEYE, Executive Director of Tanzania Private Sector Foundation (TPSF), Mr. M’Fadel EL HALAISSI, Deputy CEO – BMCE Bank Of Africa, Mr. Ammish OWUSU AMOAH, CEO Bank of Africa Tanzania (BOA), Mr. Mohammed BENAYAD, General Secretary of Department of Foreign Trade, Ministry of Trade, Industry, Investment, and Numeric Economy of Morocco, Minister Khalid Salum Mohamed, Minister of Finance of Zanzibar, and H.E Mr. Abdelilah BENRYANE, Ambassador of the Kingdom of Morocco.

The mission aims to leverage the abundant business opportunities in Tanzania and shed light on the potential of cooperation in such fields the electricity/renewable energies, import/export, construction and real estate, transport, telecom, Finance, an official press release explains.

Clifford Tandari, Executive Director of TIC commented that Moroccan investors also eyed mining and agroprocessing.

“Some Moroccan investors have conducted a study and found huge potential in fisheries. They intend to set up a giant fish processing factory [in Zanzibar],” Minister Salum added.

In October 2016 King Mohammed VI of Morocco visited Tanzania to sign 21 Memorandums of Understanding (MoUs) for economic development in key sectors such as energy, mining, gas, aviation, agriculture, and tourism, as part of Morocco’s aim to establish relations of mutual benefit with African countries.