PRIME MINISTER MEETS AFREXIMBANK PRESIDENT-ELECT



Highlights Investment Opportunities and Strengthened Cooperation with Tanzania

Prime Minister Kassim Majaliwa has held talks with the President-Elect and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), Dr. George Elombi, during which he outlined key areas for further investment in Tanzania.

Hon. Majaliwa expressed confidence that under Dr. Elombi’s leadership, the bank will significantly enhance its role in promoting trade, industrial development, and strategic investments across Africa, including Tanzania.
“We wish to assure you that the Government of Tanzania remains fully committed to its strategic partnership with Afreximbank,” he said.

During the discussions, the Prime Minister emphasized the importance of Afreximbank completing its plan to establish a modern medical facility in Tanzania — the African Medical Centre of Excellence — which will provide high-quality healthcare services and reduce the reliance on overseas referrals for specialized treatments.

The Prime Minister also called on the bank to continue prioritizing the implementation of strategic projects in Tanzania, stressing that the country offers a favorable investment climate and high-impact projects across various sectors.
“Financial support from Afreximbank will accelerate the execution of these projects and stimulate economic development,” he noted.

Furthermore, the Prime Minister highlighted the potential of the blue economy, noting that Tanzania is endowed with vast marine resources that remain underutilized.
“With Afreximbank’s support, Tanzania can develop this sector for the benefit of its citizens and the nation as a whole,” he said.

On clean energy, Hon. Majaliwa informed Dr. Elombi that Tanzania is now prioritizing the use of alternative energy sources and urged the bank to support these efforts to expand the adoption of renewable energy for sustainable development.

“We believe Afreximbank will continue to broaden its support for Tanzania in various areas of development. This bank remains a true partner in Tanzania’s journey toward an inclusive, middle-income economy,” he added.

The Prime Minister noted that Tanzania has already benefited significantly from Afreximbank’s financial and technical support for key projects such as the Julius Nyerere Hydropower Project, the construction of the Standard Gauge Railway (SGR) Lots 1-4, the East African Crude Oil Pipeline (EACOP), as well as support for trade financing through Tanzanian banks and the private sector, and budgetary support between 2019 and 2024.

Currently, the Bank of Tanzania holds 2,323 shares in Afreximbank, representing 1.06% of the bank’s equity.

For his part, Afreximbank President-Elect Dr. Elombi instructed the bank’s executive team to expedite all processes related to the construction of the African Medical Centre of Excellence in Tanzania, so that the flagship health project can commence as soon as possible and deliver specialized healthcare services across Africa.

Dr. Elombi also urged the Government of Tanzania to ensure that funds provided by the bank are fully utilized for high-impact development projects to achieve the intended socio-economic development goals. He reaffirmed that all commitments and agreements made by his predecessor will be fully honored and implemented.

Earlier, the Zanzibar Minister of State in the President’s Office for Labour, Economy, and Investment, Mr. Shariff Ali Sharriff, stated that Tanzania will leverage the 4th Africa-Caribbean Trade and Investment Forum (ACTIF 2025), organized by Afreximbank, to strengthen cooperation in the blue economy, special investment partnerships, as well as in aviation and tourism sectors.
“We will ensure that the commitments made here benefit our country,” he emphasized.

Similarly, Dr. Johnson Nyela, Commissioner for Policy Analysis at the Ministry of Finance, revealed that Tanzania and Afreximbank are in discussions under the Fund for Export Development in Africa (FEDA) to advance the establishment of the African Medical Centre of Excellence in Tanzania.
“We are ready to host this project, and we believe that by investing in this area, Tanzania will become one of Africa’s leading medical hubs,” he said.

On his part, the Director General of the Tanzania Investment and Special Economic Zones Authority (TISZA), Mr. Gilead Teri, disclosed that the authority plans to establish an industrial cluster in partnership with Afreximbank to attract investment in various industrial sectors across the country.

“The major advantage we continue to enjoy is our strategic collaboration with Afreximbank, an institution founded by African nations, with Tanzania as a shareholder. The bank has played a key role in mobilizing capital from across the globe to invest in Africa,” he concluded.


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