Tanzania Agribusiness Investment Event brings 70 Foreign Investors to Tanzania

The Tanzania Investment Centre (TIC), launched yesterday the first ever Tanzania Agribusiness Investment Showcase, aimed at bringing together government and private sector to display the available investment opportunities within the Southern Agricultural Growth Corridor of Tanzania (SAGCOT) and accelerate investment in this sector of Tanzania’s vibrant economy.

SAGCOT’s objective is to foster commercially successful agribusinesses to benefit the region’s small-scale farmers, and improve food security, reduce rural poverty and ensure environmental sustainability via the PPP model – public-private partnership.

Initiated at the World Economic Forum (WEF) Africa summit 2010 is an inclusive, multi-stakeholder partnership to rapidly develop the region’s agricultural potential, with the support of founding partners including farmers, agri-business, the Government of Tanzania, SAGCOT and companies from across the private sector.

The events held at the Bank of Tanzania (BOT) conference centre was introduced by the keynote address by Honourable Mizengo P. Pinda, Prime Minister of the United Republic of Tanzania.

During the keynote Honourable Pinda highlighted that the Government’s plan to invest USD 1.3 Billion to leverage about USD 2.1 Billion from the private sector to transform and commercialise smallholder agriculture in Tanzania.

He also highlighted the tremendous potential for investment in agribusinesses Tanzania with 44 Million hectares of arable land, of which only about 25% are utilised, together with huge potential for livestock and fisheries development.

The event organised by the TIC in association with the Prime Minister’s Office and SAGCOT will end tonight. It successfully attracted 70 foreign prospective investors and over 40 local companies aiming at taking advantage of investment opportunities within SAGCOT.