What You Need to Know
Tanzania’s Finance Minister, Ambassador Khamis Mussa Omar, has assured investors of the government’s commitment to resolving investment challenges. During a meeting with Nyanzaga Mining Company leadership, he highlighted the importance of the sector for the economy and announced plans to address tax exemption issues by February 2026. The Nyanzaga Gold Mine project, costing over $523 million, is a
Africa-Press – Tanzania. THE MINISTER for Finance, Ambassador Khamis Mussa Omar, has promised investors that the Tanzanian government will continue to resolve the challenges facing the investment sector in the country for the benefit of both parties due to the benefits of the sector to the country’s economy and investors.
Ambassador Omar said this in Dodoma, when he met and held talks with the leadership of the new Nyanzaga Mining Company Ltd, built in the Nyanzaga area of Sengerema District in Mwanza Region which until its completion is expected to cost more than 523m US dollars.
He said that the project is the largest to be built in Tanzania since more than 18 years ago when the Buzwagi mine was built.
“This is my first time meeting with the leadership of the Nyanzagi gold mine, and we have discussed the challenge of tax exemption, and I have promised them that by the end of February 2026, we will ensure that the challenge is worked on in collaboration with all stakeholders involved,” said Ambassador Omar.
Speaking on behalf of the Mine delegation, the Local Executive Manager of the Nyanzaga project, Mr. Isaac Lupokela, thanked the government through the Minister of Finance, for the way it is addressing issues of facilitating trade and investment in the country.
He said that the Nyanzaga Gold Mine is expected to commence production by the first quarter of the 2026/2027 financial year.
He said that the project has so far provided direct and indirect employment opportunities to about 2,000 contractors, of whom more than 80 percent are Tanzanians.
Tanzania has been working to improve its investment climate, particularly in the mining sector, which is crucial for economic growth. The government has faced challenges in attracting foreign investment due to regulatory hurdles and tax issues. Recent initiatives aim to create a more favorable environment for investors, especially in large-scale projects like the Nyanzaga Gold Mine, which is expected to significantly contribute to local employment and economic development. The government’s proactive approach reflects its recognition of the mining sector’s potential to drive economic progress and create jobs for Tanzanians.
