Tanzania invites Finnish investors to explore and invest in the country’s mining sector.
The call was made on 21st November 2024 by Tanzania’s Minister of Minerals, Anthony Mavunde at a breakfast meeting hosted by the Finnish Embassy in Dar es Salaam.
Minister Mavunde emphasized Tanzania’s abundant mineral resources, investment-friendly environment, and predictable policies as key incentives for foreign investors, highlighting: “It is an opportune time for Finnish investors to explore the vast opportunities in Tanzania’s mining sector.”
He elaborated that Tanzania’s resources, coupled with an improved business environment under the leadership of Tanzania’s President Hon. Samia Suluhu Hassan, make the country an ideal destination for mining investments.
On her part, the Finnish Ambassador to Tanzania, Theresa Zitting, highlighted that Tanzania and Finland enjoy strong economic ties: “This is an opportune time to strengthen our relationship through investment in the mining sector.”
Professor Kimmo Tiilikainen, Director General of the Geological Survey of Finland (GTK), mentioned the MoU signed between GTK and Tanzania’s Geological Survey (GST) in March 2024.
The MoU aims to build collaboration on research in rocks and minerals and exchange experiences in technology, particularly in research activities.
Tiilikainen stressed that it would help Tanzania achieve its Vision 2030 strategy of expanding mineral exploration to 50% of its territory.
Tanzania and Finland Bilateral relations
Finland and Tanzania have maintained a robust bilateral relationship since the 1960s, primarily focused on development cooperation.
This partnership encompasses various sectors, including education, forestry, governance, and economic development.
The current strategic framework guiding this cooperation is Finland’s Country Strategy for Tanzania 2021–2024, which aims to strengthen democracy, promote sustainable development, and enhance economic growth
In 2022, Finland’s exports to Tanzania were valued at approximately US$ 71.62 million. Finnish imports from Tanzania primarily consist of coffee and tea.
Both nations express a mutual interest in increasing trade volumes, with Finland aiming to double its trade with African countries by 2030.
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