Stanbic Bank Tanzania’s Corporate and Investment Banking team hosted a business delegation of 14 Germany companies representing various sectors for a lunch meeting in Dar es Salaam recently.
The delegation was in the country for a three-day visit from October 23rd under collaborated efforts from the Tanzanian embassy in Germany, German embassy in Tanzania among other facilitators.
The two groups covered talks pertaining to exploring business and investment opportunities in infrastructure, education, technology, machinery and energy in Tanzania and the rest of Africa.
Speaking during the meeting, Stanbic Bank Head of Global Markets, Ivan Tarimo said the bank was looking at establishing co-operation with the companies that will see the bank linking the businesses to growth opportunities offered by Tanzania, and other African economies.
“With the ability to leverage our combined pan-African presence with our local footprint, Stanbic Bank provides the expertise and relationships to assist clients to negotiate complex financial and regulatory cross-border environments. Our local teams and in-depth research drive our deep understanding of market dynamics in countries with rapidly developing economies such as Tanzania,” he told the delegates while citing a recent World Bank report that forecast that Tanzania will have the third fastest growing economy in Africa in 2018.
The head of the German delegation, Mr. Christoph Kannengieber, also had high hopes for the future economic prospects between the two countries citing that German business needs to learn more about Tanzania so as to grow trade relations between the two countries as the opportunities are plenty.
He later added that Tanzania in all aspects provides a white canvas for investors; looking at population size, readily available market, access to seaports and airports, ever improving infrastructure as well as the political will of the country present positive environments for investors.
With readily available capital and reliable technology from Germany, this serves a perfect union of the two nations.