Tanzania: Dar, London for agriculture investment talks
London — DEVELOPING Markets Associates (DMA) will host the UK-Tanzania Agriculture Investment Roundtable in London on Monday, in association with the United Kingdom (UK) Foreign and Commonwealth Office (FCO).
Agriculture was identified as a priority area for the UK-Tanzania Prosperity Partnership which was agreed earlier this year between Mr Mark Simmonds, FCO Minister for Africa and President Jakaya Kikwete. The sector is the mainstay of the Tanzanian economy, contributing 27 per cent of GDP and generating over 70 per cent of employment in the country, but is dominated by smallholder farmers, with poor access to markets. According to statement posted on the DMA website, the Roundtable will bring together representatives from Tanzania, FCO, UKTI, DFID and leading UK private sector companies to explore opportunities for the UK to partner with Tanzania in developing the sector.
One particular initiative that Tanzania is keen to promote is SAGCOT (Southern Agriculture Growth Corridor of Tanzania), a partnership between the government, the private sector and development partners that is spearheading reform and growth in the southern agriculture corridor of Tanzania. SAGCOT aims to catalyse US dollars 2.1 billion of private investment over a 20 year period, alongside public sector grants and loans of US dollars 1.3 billion, in order to triple the area's agricultural output and bring approximately 350,000 hectares into profitable production.
The Roundtable will feature a key note speech by the Minister for Agriculture, Food Security and Cooperatives, Eng. Christopher Chiza, to highlight the investment opportunities in Tanzania, as well as presentations by Geoffrey Kirenga, Chief Executive Officer, SAGCOT Centre and Prof Peter Mahamudu Msolla (MP), Chairman of the Tanzanian Parliamentary Committee on Agriculture, Livestock and Water.