On 23rd July 2024, Confederation of Tanzania Industries (CTI) and the Manufacturing Africa programme formalized a partnership to support local manufacturers operating in Tanzania to mobilize financing for their new and existing projects. The partnership was officiated at Serena Hotel after the launch of the President’s Manufacturer of the Year Awards Competition.
The program's key objective is to mobilize Foreign Direct Investment (FDI) of over GBP 1.2 billion into six target countries and create 90,000 new jobs. Launched in 2019, the program operates in Nigeria, Kenya, Senegal, Ethiopia, Rwanda, and, most recently, Tanzania, which joined in November 2023. The program is delivered by a consortium of five partners.
The program has two primary components:
1. The Deal Support Window where they assist manufacturers with investor readiness, market studies, commercial due diligence, investor identification and matching, and ESG support to facilitate foreign debt and equity fundraising.
2. The Sector Support Window where they work with governments, private sector associations, and investment promotion agencies to provide technical assistance and conduct sector-wide transformation studies.
With that being said, our members have the opportunity to take advantage of the first component of the program through investor readiness.
For any inquiry contact Ms. Asha Tarimo through email at asha.tarimo@bdo-ea.co.tz and phone number +255 766 829 903 or Mr. Innocent Ndodyabike through email at innocent.ndodyabike@bdo-ea.co.tz and phone number +255 654 861 226.
Manufacturing Africa Partners with Confederation of Tanzania Industries to Enhance Financing for Local Manufacturers