TZ Woos Massive Investments from Egypt
Egyptians declare Tanzania their second home with billions worth investments.
The Egyptian business community has designated Tanzania its second home by promising to make the latter its investment hub in East and Central Africa, as the North African economic powerhouse seeks to stretch out her tentacles to the South. The declaration was made in December during a visit by over 100 high-profile delegates from the Egyptian government and business community who came to cement their commitment to invest more than US $500 million (TZS1.15 trillion) in the country.
And the reasons for their choice of a second home were not hard to come by: Tanzania is rich in resources, economically and politically stable, strategically located and has adequate manpower and thus provides endless investment
opportunities.
The delegation’s Tanzanian visit was the result of President Samia Suluhu Hassan’s visit to Egypt in November on invitation of President Abdel Fattah Al Sisi. The two Presidents agreed to deepen cooperation for the mutual benefits of the two historically friendly nations. “My country seeks to strengthen relations and consolidate strategic cooperation with Tanzania in economic, political and national development,” said President Al Sisi when he hosted President Hassan.
