Tanzania and Cuba to Strengthen Bilateral Relations

Tanzania Cuba investments

Tanzania and Cuba commit to strengthening bilateral relations with focus on economic benefits and mutual cooperation.

The announcement was made on October 3rd 2016 by President John Magufuli during a visit of the Cuban Vice President, Salvador Valdes Mesa, to Tanzania.

Magufuli and Mesa discussed the various investment opportunities in Tanzania, especially in the pharmaceutical and sugar sectors.

Tanzania Investment Guide 2026 Free Edition

For this, the Tanzanian President invited Cuban investors to the country, noting that Cuba has vast expertise in these sectors.

Magufuli further noted that he will immediately offer land to prospective investors in sugarcane production and pharmaceuticals, which are highly demanded in Tanzania and its neighboring countries.

On his side, the Cuban Vice President assured Magufuli that Cuba is ready to cooperate with Tanzania for economic development.

On August 30th 2016, President Magufuli held a meeting with Jorge Lopez Tormo, Cuban Ambassador to Tanzania to discuss investment opportunities in Tanzania’s sugar and medical drugs production.

During the meeting, Magufuli noted that Tanzania has suitable land for sugar plantations, including 10,000 hectare area in Bagamoyo, 75 kilometres (47 miles) north of Dar-es-Salaam on the coast of the Indian Ocean.

TanzaniaInvest Capital Markets Report Banner

Currently (2016), Tanzania produces an average of 300,000t of sugar per year, while the demand is estimated at 590,000t per year, of which 420,000t is for direct domestic consumption and the remaining 170,000t is for industrial use.

Earlier in 2016, Prime Minister of Tanzania, Kassim Majaliwa, said that more sugar plants will be established in the next 4 years across the country to meet the growing demand for sugar.

He noted that the strategic areas where sugar plants will be established include: Rufiji Valley, Kigoma, Kilosa, Ngerengere and Bagamoyo.

Want to know more about the Economy in Tanzania? Our free overview of the Tanzania Business and Investment Guide 2026 covers the Economy, plus key sectors and investment opportunities. The complete 141-page edition includes policies, taxation, key regulations, full macroeconomic data, and sources, and is also available at no cost upon completion of a short form.

Download Free OverviewGet the Full Edition for Free
Related Posts
Innovation Week Tanzania (IWTz) 2026
Read More

Innovation Week Tanzania (IWTz) 2026: 31st August-4th September 2026, Dar es Salaam

Innovation Week Tanzania (IWTz) 2026, the platform’s 12th edition, runs from 31st August to 4th September at JNICC in Dar es Salaam under the theme “From Aspirations to Transformation.” Hosted by UNDP Tanzania’s FUNGUO Programme with the EU, UK, Vodacom and COSTECH, it brings investors, innovators and policymakers together around Tanzania’s Vision 2050 target of a USD 1 trillion economy.
Tanzania Fitch Ratings
Read More

Fitch Revises Tanzania Outlook to Positive, Affirms ‘B+’ Rating, Forecasts GDP Growth of 5.8% in 2026 Driven by Tourism and Mining

Fitch Ratings revised Tanzania's outlook to positive from stable while affirming the sovereign rating at 'B+', citing strengthening reserves and a gradual decline in government debt, warning, however, that the credit rating remains constrained by weak governance and low government revenue. The agency forecasts real GDP growth of 5.8% in 2026 and an average of 6.1% in 2027 and 2028, driven by public investment, tourism, the country's role as a regional logistics hub, and expansion in the mining sector.
Tanzania World Bank
Read More

Tanzania and World Bank Finalize KAZI MPA Central Corridor Jobs Programme to Boost Youth Employment and Private-Sector Growth

The Government of Tanzania and the World Bank have finalized technical preparations for KAZI MPA, the Catalyzing Jobs and Resilient Growth in the Central Corridor Multiphase Programmatic Approach. The programme aims to expand youth employment, increase investment and strengthen private-sector participation along the Central Corridor in line with Tanzania Development Vision 2050.