By Tanzanian Prime Minister Mwigulu Lameck Nchemba will deliver the keynote address at the inaugural Tanzania Investment Forum in London on Oct. 8, organisers Invest Africa said on Sunday.
The event will bring together senior Tanzanian government officials, international investors, development finance institutions and business leaders to discuss investment opportunities in the East African nation, according to a statement from Invest Africa.
The forum is being hosted by the High Commission of the United Republic of Tanzania in the United Kingdom, alongside NMB Bank Plc as strategic organising partner and Invest Africa as delivery partner, the statement said.
Nchemba, attending as guest of honour, will set out the government’s economic priorities and investment plans as Tanzania seeks to attract foreign capital, Invest Africa said.
Tanzania is looking to deepen international investment partnerships across a range of industries, including critical minerals and mining, energy and renewable power, infrastructure, transport and logistics, agribusiness, manufacturing, digital technology, financial services and tourism, according to the statement.
The Tanzania Investment Forum will also include business-to-business and business-to-government meetings aimed at supporting deal-making, partnerships and capital raising, organisers said.
In remarks distributed by Invest Africa ahead of the forum, Nchemba linked Tanzania’s investment push to the government’s long-term Development Vision 2050, which sets targets for economic transformation over the next 25 years.
“Tanzania is open for business,” Nchemba said, adding that the country was seeking long-term partners rather than short-term investors.
Nchemba said Tanzania had “abundant natural resources, fertile agricultural land” and access to regional markets including the East African Community and the Southern African Development Community, according to the statement.
Chantelé Carrington, chief executive of Invest Africa, said the prime minister’s participation marked a significant moment for Tanzania’s engagement with international investors.
“The Prime Minister’s participation in the Tanzania Investment Forum is a significant moment for Tanzania’s engagement with the international investment community,” Carrington said in the statement.
Carrington said the event would connect Tanzania’s investment potential with capital, expertise and partnerships needed to support economic growth.
Invest Africa describes itself as a business and investment platform with a network of more than 400 member organisations, including multinational companies, private equity firms, institutional investors, development finance institutions and government bodies, according to the statement.
Tanzania, East Africa’s second-largest economy after Kenya, has in recent years sought to position itself as a destination for foreign direct investment in mining, agriculture and infrastructure.
The country holds reserves of critical minerals including graphite, nickel and rare earth elements, which have drawn interest from investors amid global demand for materials used in batteries and renewable energy technology.
Tanzania’s government has pursued regulatory changes in its mining sector in recent years, including revisions to laws governing state participation in mining projects, as it looks to balance resource nationalism with investor confidence.
The London forum comes as several African governments increase efforts to court investors in Europe and elsewhere, seeking capital to fund infrastructure and industrial development amid constrained domestic public finances.
NMB Bank Plc, one of Tanzania’s largest commercial banks, is serving as the strategic organising partner for the event, according to Invest Africa.
The High Commission of the United Republic of Tanzania in the United Kingdom is a co-organiser of the forum, the statement said.
