TANZANIA'S HIGH
COMMISSION in the UK is fostering investment opportunities for Tanzanian companies
through collaboration with the London Stock Exchange (LSE). The
High Commissioner, Ambassador Mbelwa Kairuki said on Tuesday, March 19, 2024
that the Tanzanian Embassy is working closely with the LSE's African investment
desk to connect Tanzanian businesses with the LSE platform, aiming to
facilitate capital raising endeavors.
The announcement was made
in anticipation of the upcoming Tanzania diaspora youth talk scheduled for May
5th this year. Kairuki highlighted the embassy's concerted efforts to engage
second-generation Tanzanian diaspora, many of whom were born and raised abroad
and are actively involved in various sectors internationally.
"Our aim is to
reshape perceptions regarding development issues and opportunities, encouraging
diaspora youth to leverage their skills, education, and familiarity with global
issues to contribute to Tanzania's development," stated Kairuki.
Emphasizing the pivotal
role of the LSE's African investment desk, Kairuki expressed gratitude for the
significant support extended, foreseeing numerous Tanzanian companies
benefitting from the collaboration.
Furthermore, Kairuki
noted the partnership with the British International Investment, a group
comprising second-generation diaspora, which has facilitated investments
totaling approximately £300 million within a short span. He attributed the
success to the attachment of decision-makers to Africa.
Highlighting the untapped
potential of second-generation diaspora, Kairuki underscored the importance of
nurturing a connection between them and their homeland. He stressed the
significance of bridging cultural divides to ensure their active involvement in
Tanzania's development endeavors.
"If we fail to
establish a bond with them, they may adopt cultures divergent from ours and
overlook participation in the country's plans and progress," warned
Kairuki.
Kairuki's discussions
with various economic investment institutions revealed the instrumental role
played by second-generation diaspora in Tanzania and Africa's successes, driven
by their affinity with the continent.
The efforts led by the
Tanzanian High Commission signify a concerted push to harness the expertise and
resources of the diaspora community for the nation's development, paving the
way for enhanced collaboration and investment opportunities between Tanzania
and the global financial market.