Tanzania woos Dangote for fertiliser, energy investments

The Tanzanian government is actively seeking fresh investments from the Dangote Group in sectors such as fertiliser production, energy, and industrial infrastructure. This pursuit is part of the government's broader strategy to accelerate economic development across the nation. During a recent visit to the Dangote Petroleum Refinery and Petrochemicals in Lagos, Tanzanian Minister of State in the President’s Office responsible for Planning and Investment, Prof. Kitila Mkumbo, highlighted the delegation's intent to advance discussions with the Dangote Group regarding expanded investments in Tanzania.

The visit followed a prior meeting between Tanzania's President, Samia Suluhu Hassan, and Dangote Industries Limited's President and Chief Executive, Aliko Dangote, to explore potential new investments.

Dangote Group holds a significant presence in Tanzania, notably operating the country's largest cement manufacturing plant, valued at approximately $800 million. Mkumbo assured that the delegation was there to follow up on the deliberations between Tanzania's president and Dangote Industries Limited concerning further investments in Tanzania.

He emphasized Tanzania's keen interest in Dangote's expertise in fertiliser production and refinery operations, which could play a pivotal role in fostering industrial development and boosting economic growth in the region.

Mkumbo also advocated for deeper economic integration among African nations, urging the continent to shift from mere political cooperation towards a more substantial focus on industrialisation. He stressed that collaboration with the Dangote Group would bolster economic integration under the African Continental Free Trade Area and enhance manufacturing capacity across the continent.

According to Mkumbo, Africa's path to economic liberation lies in industrialisation, and Tanzania is eager to partner with the Dangote Group to promote Pan-African industrialisation and boost regional manufacturing capacity.

Furthermore, Mkumbo underscored the importance of developing local refining capacity to bolster Africa's energy security, particularly in the wake of global oil market disruptions. He cited the impact of tensions around the Strait of Hormuz on global fuel prices, highlighting how enhanced refining capacity from facilities like the Dangote refinery could help African economies withstand external shocks.

Access to affordable and reliable energy, he reiterated, remains essential for economic development, and increased refining capacity could alleviate energy costs and improve living standards across the continent. The Tanzanian government's endeavors to engage with the Dangote Group reflect ongoing efforts to explore strategic investment opportunities, stimulate industrial development, and foster regional economic integration.