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Applause for Dangote as he opens cement plant in Tanzania
Alhaji Aliko Dangote: Gets praise in Tanzania

Applause for Dangote as he opens cement plant in Tanzania

President Muhammadu Buhari and his Tanzanian counterpart, Dr. Mrisho Kikwete have described the business mogul, Alhaji Aliko Dangote, as Africa’s economic stimulant whose investments had sustained economy stability and standard of living in the African continent.

The two leaders spoke on the occasion of the commissioning of the Dangote Cement’s multi-million dollar new cement plant in Mtwara, Tanzania and ground breaking of the 26-hectare jetty which attracted top shots not only from Nigeria and Tanzania but also from neighbouring countries of Ruwanda, Burundi and Democratic Republic of Congo.

Tanzanian President, Dr. Jakaya, Mrisho Kikwete said there was no better way of rejuvenating and sustaining a nation’s economy if not through investment, which opens the door of for job creation and opportunity for people to express their creative abilities.

He described the cement plant as the largest cement plant in Eastern and Central Africa, noting that the investment was a huge one that would have a huge impact as well as bilateral relation between Tanzania and Nigeria.

“It will go a long way in transforming our happily existing diplomatic and political relations into investment and trade arena”, he noted.

Kikwete pointed out that the timing of the citing of the cement plant was very auspicious, coming at a time when the demand for cement was on the upsurge and increasing both locally and regionally.

Said he: “It is logical that there is a sound relationship between economic growth and booming of the construction sector whereby cement is a critical input. Tanzania is one of the countries where such relationship can easily be traced.”

To drive home his point that that Tanzania was a good destination for investment, Kikwete said Tanzania had registered an average growth of 7 per cent which made her one of the top 10 fastest growing economies in Africa and that as part of this growth, the construction sector had grown 7 per cent of the gross domestic product (GDP) in 2005/2006 to 12.5 per cent of the GDP in 2014/2015.

He disclosed that cement price had been on the increase, especially because of the shortages in supply as opposed to increasing demands and that Dangote Cement was coming to fill the gap.

Buhari, who was represented by the Kaduna State Governor, Mallam Nasir El-Rufai, said Dangote wass a key role-player in the economic development of Africa and his investment model was in tandem with the unfolding economic policy of his government.

He said Dangote, by his investment, was teaching African nations on the need to adopt an economic integration policy which would encourage Africans to invest in their continent rather than waiting endlessly for the elusive foreigners to come and help invest and develop Africa.

Buhari pointed out that Dangote had proved a point that though there could be challenges, there were huge returns for African investments in Africa. “Others should emulate him and partner with the government in the onerous task of job creation. As our son, we are proud of Dangote. Nigeria is very proud of him.”

His government, according to him, was placing an emphasis on job creation and that it would work assiduously to create a million jobs.

Also speaking, the Tanzanian Minister who represented the Tanzanian Prime Minister, Samuel Sitta, said investment remained a critical input in developing economy, saying it was for this reason that the government had been working closely with Tanzanian Investment Centre (TIC).

Presently, Sitta explained, the government of Tanzanian was implementing some economic reforms that ensured investments run smoothly adding that, reforms, as well as its legal framework were being put in place saying development depended on industrial growth and growth in industries depended on available infrastructure.

Dangote said that the key factor that drove investments, in an economy, was the presence of an investor-friendly business climate, and noted that, indeed, Tanzania was one of the most attractive investment destinations in Africa.

This, he stated, was attested to by the substantial amount of foreign direct investments (FDIs) that flowed into the country, annually.

According to him; the economic reforms in Tanzania especially in tax, public sector, financial sector, innovations in rural finance, telecommunications and infrastructure as well as revamped legislative frameworks, had produced an enabling environment that had further provided a platform for future growth. “All these factors made us consider investing in the country. We hope to see more foreign investors take advantage of these opportunities and invest in other sectors that will have multiplier effects on the Tanzanian economy.”

The latest cement plant is part of the on-going African expansion drive of the Pan-African conglomerate. The company has plants in Cameroon, Zambia and Ethiopia. There are plans for Senegal and South Africa.

 

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