Marketing Assistance and Research Support (MARS), in collaboration with the Global India Business Forum (GIBF), Pune organized a highly impactful business delegation to Tanzania from April 21st to April 25th, 2024. This strategic initiative yielded a series of fruitful meetings and culminated in the signing of significant Memorandums of Understanding (MOUs) and Joint Ventures (JVs) Agreement, aimed at fortifying the ties between Tanzania and India, fostering robust economic collaboration, and paving the way for mutual growth and prosperity.
Day 1 – 22nd April, 2024
The day commenced with a highly productive meeting at the Tanzania Investment Centre (TIC), where delegates from various sectors such as construction, steel, power, oil and gas, pharma, and food products gathered to explore trade and investment prospects. Engaging discussions with TIC officials paved the way for significant collaborations, setting a promising tone for the visit.
Through an exchange of ideas and exploration of potential projects, delegates gained a deeper understanding of Tanzania’s investment climate. The productive dialogue at TIC set a solid foundation for the rest of the visit, instilling confidence and enthusiasm among delegates to pursue promising ventures in the region.
Following this, another fruitful meeting took place at the Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA), providing valuable insights into Tanzania’s business environment and fostering a deeper understanding of potential investment opportunities.
Representatives from TCCIA welcomed the delegation and provided comprehensive insights into the various sectors driving Tanzania’s economic growth. Through engaging presentations and discussions, delegates gained valuable knowledge about key industries, emerging trends, and investment potential in the region. The session also facilitated fruitful exchanges between the delegation and local business leaders, fostering a deeper understanding of the regulatory environment, market dynamics, and opportunities for collaboration. Overall, the meeting at TCCIA served as a valuable platform for exploring synergies and forging partnerships that have the potential to drive mutual prosperity and economic development.
The evening interaction session hosted at the Indian High Commission in Dar es Salaam proved to be a pivotal moment during the business delegation’s visit. The gathering brought together a diverse group of Indian business leaders representing various sectors, creating a dynamic platform for knowledge exchange and networking.
The session commenced with welcoming remarks from esteemed representatives of the Indian High Commission, emphasizing the importance of fostering strong economic ties between India and Tanzania. One of the highlights of the session was the invaluable insights shared by members of the Indian Diaspora in Tanzania. Drawing from their extensive experience and expertise in navigating the local business landscape, they offered firsthand perspectives on the opportunities and challenges present in Tanzania’s business market.
These insights sparked engaging discussions among the delegates, covering a wide range of topics including market trends, regulatory frameworks, investment incentives, and cultural nuances. Participants had the opportunity to share their own experiences, exchange ideas, and brainstorm potential collaboration opportunities. Overall, the evening interaction session at the Indian High Commission served as a catalyst for building bridges between Indian and Tanzanian businesses.
Day 2 and 3 – 23rd -24th April, 2024
The day progressed with a series of productive business-to-business (B2B) meetings, each contributing to the delegation’s exploration of diverse sectors in Tanzania. The first meeting commenced with Ms. Sabena V. Kubini, the visionary Founder of Petrobena EA Limited. Ms. Kubini’s insights were invaluable as she shared her vision for revolutionizing the agriculture industry in East Africa. Through engaging discussions, MARS gained a deeper understanding of the challenges and opportunities within the sector, laying the groundwork for potential collaborations and innovations.
Following this insightful session, the MARS convened with Ms. Ruthmoss from Rapha Industrial Solutions to explore opportunities in mechanical engineering and manpower services. Ms. Ruthmoss provided valuable insights into the local business landscape, highlighting potential areas of synergy and collaboration.
During another pivotal meeting, representatives from Marketing Assistance and Research Support (MARS) engaged in discussions with the Tanzania Film Board, led by its Director, Dr. Kiagho.
The focus of the meeting centered on exploring business opportunities for the development of the Tanzania Film Board. MARS highlighted the potential for collaboration and investment within the film industry, emphasizing the delegation’s keen interest in exploring future prospects and contributing to the sector’s growth. The dialogue revolved around identifying avenues for partnership, investment, and innovation that could propel the Tanzanian film industry forward and create new opportunities for stakeholders.
As the day drew to a close, MARS participated in a meeting with representatives from Tan Trade, focusing on the upcoming Saba Saba Day and the Dar es Salaam International Trade Fair. This meeting provided valuable insights into participation opportunities for Indian businesses in renowned trade fairs in Tanzania. Discussions centered on leveraging these platforms to showcase Indian expertise, foster business connections, and explore market expansion opportunities.
Day 4 – 25th April, 2024
The signing of the Memorandum of Understanding (MOU) between Marketing Assistance and Research Support (MARS) and the Tanzania Investment Centre (TIC) marks a significant milestone in fostering economic cooperation between India and Tanzania. This partnership, announced with pride by MARS, signifies a strategic collaboration between two key entities aimed at promoting bilateral trade and investment.
Under the terms of the MOU, TIC, a primary government agency in Tanzania, will take on the responsibility of handling all promotional activities in India in collaboration with MARS. This joint effort is designed to amplify efforts in promoting investment opportunities, facilitating trade relations, and fostering economic growth between the two nations. By leveraging the expertise and networks of both MARS and TIC, the partnership seeks to create a conducive environment for businesses from India and Tanzania to explore and capitalize on mutual opportunities for growth and collaboration.
A heartfelt expression of gratitude is extended to Mr. Gliead Teri, Director of TIC, Ms. Lattifa Kigoda, Investment Officer, and the entire team at TIC for their unwavering support and dedication. Their tireless efforts in addressing investor queries and interests have been instrumental in laying the groundwork for success in the dynamic business landscape of Tanzania. Together, MARS and TIC are paving the way for a future of prosperity, growth, and collaboration between India and Tanzania.
Secondly, Shakti Green Energy Pvt Ltd and UTEGI Technical Enterprises (INTL) Limited signed a joint venture agreement to establish Plug and Ride (EA) Company Limited, focusing on the assembly of electric vehicles in Dar es Salaam, Tanzania, with an anticipated investment of USD 7 million. This initiative is a testament to the growing collaboration between Indian and Tanzanian businesses.
The joint venture’s equity distribution is set at 60% for the foreign partner and 40% for the local partner, with operations expected to commence within six months. The initiative is a result of President Samia Suluhu Hassan’s visit to India last year, reflecting the strong ties between the two nations.
In conclusion, the business delegation’s visit to Tanzania has laid the groundwork for significant collaborations and investments, contributing to the strengthening of economic ties between India and Tanzania. The success of the visit underscores the immense potential for collaboration in various sectors, further solidifying the partnership between the two nations.
Press Release:
https://www.tanzaniainvest.com/industry/indian-joint-venture-electric-vehicle-assembly
https://www.youtube.com/live/E9dmW0cFboU?si=k9rEQZxnE4MynGKG
https://www.youtube.com/live/8AtO52kq9o4?feature=shared
https://www.youtube.com/live/Cm3yYutlDs8?si=_mr2Sc7m-D3SLpD7
https://habarileo.co.tz/bajaji-za-umeme-nchini-kushuka-bei/
https://www.instagram.com/p/C6ObPx7tuiF/?igsh=MnI5NmludXFyZG91
https://www.instagram.com/p/C6KEqTPNMmk/?igsh=ZnY2aGd5ODluenI=
Image Gallery
