Africa-Press – Tanzania. PRIME Minister Kassim Majaliwa on Thursday asked the Afreximbank to prioritise investment in strategic projects in Tanzania including the completion of African Medical Centre of Excellence to boost access to quality healthcare.
Speaking during a meeting with the President-Elect and Chairman of the Board of Directors of Afreximbank, Dr George Elombi, in St George’s, Grenada, the Premier said Tanzania offers a favourable investment climate and has high-impact projects across various sectors.
“Financial support from Afreximbank will accelerate the implementation of the projects and stimulate economic development,” he stressed.
The Premier also encouraged Afreximbank to complete its plan to build the African Medical Centre of Excellence, which will provide high-quality healthcare services to citizens and reduce reliance on referrals abroad for specialised treatment.
He said Tanzania is confident in Dr Elombi’s leadership and that the bank is expected to significantly enhance its role in promoting trade, industrial development and strategic investment across Africa including Tanzania.
“We would like to assure you that the government of Tanzania remains fully committed to its strategic partnership with Afreximbank,” he said.
Mr Majaliwa also expressed the importance of investing in the blue economy, explaining that Tanzania is blessed with abundant marine resources that remain underutilised. He said: “With Afreximbank’s support, Tanzania can further develop this sector for the benefit of its people and the nation at large.” Regarding clean energy, the Premier said that Tanzania is currently pushing for the use of alternative energy sources and welcomed the bank’s support in expanding the use of clean energy to promote sustainable development.
“We believe Afreximbank will continue broadening its support to Tanzania across various development areas. This bank is a true partner in our journey toward becoming a middle-income economy,” he said.
Mr Majaliwa noted that Tanzania has already benefited significantly from Afreximbank’s financial and technical support in projects such as the Julius Nyerere Hydropower Project (JNHPP), Standard Gauge Railway (SGR) Lots 1 through 4, the East African Crude Oil Pipeline (EACOP), support to Tanzanian commercial banks and the private sector as well as budgetary support between 2019 and 2024.
Currently, the Bank of Tanzania (BoT) holds 2,323 shares, equivalent to 1.06 per cent of Afreximbank’s capital.
The Afreximbank President-Elect, Dr Elombi directed the bank’s executive team to expedite all procedures related to the establishment of the African Medical Centre of Excellence in Tanzania, so that the major healthcare project can be launched promptly and provide world-class medical services in Africa.
Dr Elombi also urged the government of Tanzania to ensure that funds provided by the bank are used effectively for high-impact development projects, so the intended economic and social development goals can be achieved. He assured that all previous commitments and cooperation agreements made by his predecessor would be fully honoured.
The Minister of State, President’s Office (Labour, Economy and Investment) of Zanzibar, Mr Shariff Ali Sharriff said Tanzania will leverage the Fourth Africa-Caribbean Trade and Investment Forum (ACTIF2025), organised by Afreximbank, to strengthen cooperation in the blue economy, promote strategic partnerships between investment and trade institutions as well as develop aviation and tourism sectors.
“We will ensure that all agreements reached here benefit our country,” he noted.
Commissioner for Policy Analysis at the Ministry of Finance, Dr Johnson Nyela, said that Tanzania and Afreximbank are continuing with the discussion through the Fund for Export Development in Africa (FEDA) to ensure smooth implementation of the Centre of Excellence in Specialised Health Services in Tanzania.
“Tanzania is ready to host this project and we believe that if we succeed in this investment, we will become one of Africa’s leading medical hubs,” he said.
Director General of Tanzania Investment and Special Economic Zones Authority (TISEZA), Mr Gilead Teri said the authority plans to establish an industrial cluster in partnership with Afreximbank, targeting increased investment in various industrial sectors across the country.
“One of the major benefits we continue to enjoy is our partnership with Afreximbank, a bank founded by African countries of which Tanzania is a member. This bank has been instrumental in mobilising capital from around the world to invest in African countries,” he added.
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