Friedkin Conservation Fund (FCF), a US based nonprofit corporation established for the purpose of conserving Tanzania’s protected wildlife areas, has recently awarded Tanzania with a USD 100 million investment aimed at improving its tourism sector.
The investment is meant to support job creation, wildlife conservation, rural growth and innovation in Tanzania’s Western Tourism Circuit which brings to the country the least quantity of tourist due to access constraints.
The proceed was catalogued as a strategic investment by the National Investment Steering Committee (NISC) which was formed by the Tanzanian Government to improve local business environment and that so far has approved 41 strategic investment projects.
According to Tanzania Investment Centre (TIC), this strategic investment is product of the international campaign developed by the Multilateral Investment Guarantee Agency (MIGA) and launched by Tanzania’s President Jakaya Kikwete in October, 2015.
The strategic investment together with the work of the NISC chaired by Prime Minister Mizengo Peter Pinda will soon bring more investments to Tanzania’s tourism sector, explained TIC Executive Director Juliet Kairuki.
FCF was established for the purpose of conserving more than 6.1 million acres of Tanzania’s protected wildlife areas.
FCF also sponsors innovative community development projects and manages a Geographic Information System (GIS) for mapping and research to compliment the anti-poaching initiative.
The Tanzainan tourism sector is a notable source of income for the country with a constantly growing international tourist arrivals which in average currently stays 10 days in the country and spend a total of USD 1,691 per visitor, according to the UN Conference on Trade and Development (UNCTAD).
According to Bank of Tanzania’s latest statistics, tourism is the leading foreign exchange earner outperforming the gold industry and which in January, 2015 attracted USD 2.04 billion up from USD 1.90 billion in January, 2014.