By TZ Business News Staff.
Tanzania President Samia Suluhu Hassan has promised to protect Africa’s richest man Aliko Dangonte’s investments in the country as well as investments by others.
The Nigerian entrepreneur owns a USD $770 million cement factory in the south eastern coastal region of Mtwara. He is currently described as Africa’s richest man at a net worth of USD 11.7 billion and ranked 183rd richest man in the world.
Dangote held talks with the President at State House in Dar es Salaam on Monday, May 24, 2021. At the talks the President said her Government was set to protect Dangote’s investments as well as investments made by other investors in order to generate benefit for both sides.
The President expressed appreciation for the Nigerian billionaire’s investment made in the country and ordered Minister for Investment Geofrey Mwambe and the Minister for Industries and Trade Prof. Kitila Mkumbo, to find solutions to any problems the Dangote cement factory in Mtwara may be facing. The two ministers attended the meeting.
In 2016 Dangote had complained the Government had not quite kept its word on some foreign investor benefits promised.
President Samia said Dangote’s manufacturing plant should be operational in order for it to generate the intended benefits. After the talks, the Nigerian entrepreneur expressed support and appreciation of the President ’s effort to improve the business environment.
The President recently promised solutions to problems investors face in Tanzania–problems which include Government bureaucracy, difficulties to obtain work permits and a hostile taxation environment.
She made the promise at State House in Dodoma when talking to leaders of the Chinese Business Chamber of Tanzania, a Tanzania-based organization comprising of Chinese businesses which operate in the country.
Dangote said because of the changes and improved business environment in the country he is to turn himself into Tanzania’s investment ambassador—to encourage other investors and business people to bring capital into Tanzania because the Government here is now ready to partner with investors.
The environment is now conducive to investment, he observed, expressing interest to bring additional investment in areas other than cement manufacturing in order to help create jobs here.
“”We will continue to invest in Tanzania in order to create employment, to increase the national income and to raise the welfare of the people of Tanzania,” Dangote said after talks. “ I think [the President] needs support in this and we have promised that we will continue to invest on a large scale in Tanzania in order to support what she is doing. We will create employment.”