The East Africa Trade and Investment Hub (the Hub), a project of the United States Agency for International Development (USAID), is coming to a close in August 2019.
This is an expected end as the Hub began on September 2014, and USAID projects typically run for five years.
The purpose of the Hub was to boosts trade and investment with and within the East African Community countries – Burundi, Kenya, Rwanda, Tanzania and Uganda – and Ethiopia, Madagascar, and Mauritius.
It did so by deepening regional integration, increasing the competitiveness of select regional agricultural value chains, promoting two-way trade with the US under the African Growth and Opportunity Act (AGOA) and facilitating investment and technology to drive trade growth intra-regionally and to global markets.
To date, the Hub facilitated 75 financial transactions, mobilizing USD 173.6 million in new private sector investment and finance to eastern African firms.
In Tanzania, the Hub supported projects in Investment and Technology, Agriculture and Agribusiness, and Trad under AGOA.
Overall, the Hub managed a total of USD 71.4 million in investments in Tanzania, of which USD 33 million under review, USD 33.4 million with active engagement, USD 5 million pending closure, and USD 0.2M of closed investments.