TIB seeks regional financing to advance Tanzania's Vision 2050 goals at SADC industrial forum
The Tanzania Investment Bank (TIB) is seeking regional collaboration with other development finance institutions to fund large-scale industrial projects. These initiatives aim to support Tanzania's Vision 2050, which targets significant economic growth through infrastructure and value-added sectors.
Why it matters
Regional financial cooperation is essential for emerging economies to mobilize the capital required for large-scale industrialization and infrastructure development.
Durban. Tanzania Investment Bank (TIB) has called for stronger collaboration among development finance institutions across the Southern African Development Community (SADC) to mobilise capital for industrial projects that will accelerate economic and social development across the region.
Speaking on the sidelines of the 9th SADC Industrialisation Week at the International Convention Centre (ICC) in Durban, South Africa, TIB chief executive officer Mr Deogratius Kwiyukwa said regional financial financial institutions should combine resources to finance large-scale development projects.
He said TIB was participating in the forum to explore partnerships with development finance institutions across the SADC region to mobilise capital for strategic projects that will support the implementation of Tanzania's Development Vision 2050, which aims to grow the country's economy to $1 trillion by that year.
Mr Kwiyukwa said industrialisation, particularly through value addition in agriculture, critical minerals and other productive sectors, requires substantial long-term investment.
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