Tanzania may begin printing money domestically if the government allows French investors to open a mint.
The French Ambassador to Tanzania, Marcel Escure, disclosed these plans after a meeting on 20, September with the Tanzania Private Sector Foundation (TPSF).
Few African nations print their own banknotes; rather they outsource the work, largely to Germany, The United States, and Switzerland.
If the note-printing plan is approved, Tanzania will be the only country in East and Central Africa to have its own mint.
With a national mint, the government would not only eliminate outsourcing costs from printing Tanzanian Shillings abroad, it could also make significant earnings by printing for other Arfican nations.
Escure also announced that in addition to a mint, French investors are considering investing in golf course projects, regional bread factories, airport facilities, oil and gas, and sewage purification.
Doctors Gideon Kaunda and Reginal Mengi, both from the TPSF, have expressed their deep approval of these business endeavors, stating that investments in all these sectors will considerably benefit the country in a sustainable way, so long as local stakeholders are included in the process.
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