AfricaPress-Tanzania: THE public should wisely tap the presence of internal and coming investors to start and sustain themselves in business activities, which guarantee them source of livelihood and development.
That was said by Prime Minister Kassim Majaliwa, while laying a foundation stone to launch Orascom Construction and Engineering CO (T) Ltd in Ruangwa District, recently.
The industry that specialises in processing cashew nut is one of the major investments in the area that would boost the farmers’ crop cultivation, based on the fact that majority of the residents in Lindi Region depend on it as a source of income.
While reinstating the importance of having investors in all sectors especially in the agricultural one, the Premier noted that the fifth phase government under President John Magufuli has been encouraging both local and foreign stockholders to invest in the sector and create more jobs and in turn raise the country’s income through revenue collections.
“The fifth phase government encourages investors, be they local or foreigners to come enmasse and invest in the country, especially in its industrialisation drive… you as locals, exploit the chance to develop,” he pointed out.
In response, Orascom Construction and Engineering CO Executive Director, Magira Masegesa said already they have invested 5bn/- into the firm’s construction that would ease the crop local procession, saying: “Our company in partnership with YUKOS Enterprises ( E.A) Limited has invested 5bn/- into the business.”
However, Mr Masegesa further noted that their factory would focus more on purchasing the farmers cash nuts raw as raw materials, and support them with a machine to process the crop and ferry it right from the farms.
The director said their company would equally, have the capacity of processing cashew nut of about 10,000 cubic metres on annual basis.
“However, some of our machines and vehicles have delayed to reach here because of Covid-19 pandemic that is still wreaking havoc globally,” he added.
Elaborating, he said projections indicate that they will have the capacity to transact 15bn/- in business every year.
“We shall have muscle power to offer local employment opportunities especially to 93 professionals, and several as labourers in Ruangwa District and environs in Lindi and Mtwara Regions,” he said.
Further, the director said in processing cashew nut in particular, they invested about 5bn/- in the first stage of its development, adding: “We are fully strategised into seeing into it that the two companies assist farmers and run majorly with the locally acquired raw materials.”
