US and Tanzania Sign USD 5 Billion Worth of Investments

Tanzania President Samia Suluhu Hassan with US Chamber of Commerce CEO Suzanne Clark

On 22nd April 2002, a number of US companies interested in doing business and investing in Tanzania signed seven agreements with Tanzanian companies worth a total of TZS 11.7 trillion.

The deals are expected to create 301,110 jobs in agriculture, tourism, trade, and other sectors of the Tanzanian economy.

The US companies include Wind Energy, Astra Energy, Crane Currency, and Parallel Wireless.

Astra Energy Inc. (OTC Pink Sheets: ASRE) which invests in and develops renewable and clean energy projects, announced in March 2022 that it had engaged the government of Tanzania in discussions to construct a significantly sized, combined cycle power plant using natural gas as feedstock.

Tanzania’s President Samia Suluhu Hassan witnessed the signing of the agreements during her two-week official trip to the United States when she also attended a meeting at the US Chamber of Commerce headquarters where businessmen and government officials from both countries discussed how to increase investment and trade between Tanzania and the United States.

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