1 December 2012

Tanzania: Narco Attracts Numerous Investors

SEVERAL investors from inside and outside Tanzania have shown interest in investment in the National Ranching Company (NARCO) Limited in Ruvu, Coast Region.

This was made public following completion of an inspection tour by 70 investors who visited the Ruvu ranch recently as a culmination of the first ever Agribusiness Investment Showcase Event, organized by the Tanzania Investment Centre (TIC) in collaboration with the Prime Minister's Office and the Southern Agriculture Corridor of Tanzania (SAGCOT) Centre.

The TIC Investment Research Officer who accompanied the team to NARCO, Mr Martin Masalu said the majority of investors showed interests into the ranch which have the potential to hugely contribute to the national economy. "We have brought our visitors here to see the potential of this ranch," he said.

He said a kind of investment preferred by the government at the ranch is that in the form of partnership between public and the private sector. The ranch is under the SAGCOT programme. He said it is intended that livestock keepers surrounding the ranch will also benefit once large scale farming starts at the ranch in terms of technology and markets.

Investors were taken around various sections of the ranch and a need for investors at the ranch was apparent if the ranch really needs to satisfy the market out there. The General Manager of NARCO, Dr John Mbogoma said that the ranch has a total of 2,500 cows but it has the capacity to take 17,500.

"There are a lot of potentials here," he said, adding that people from private sectors are allowed to start hide factories in the ranch and own them 100 per cent. The Coast Region Administrative Secretary, Ms Beather Swai encouraged investors to go and invest at the ranch.

"You will not regret coming here, there are a lot of potentials," she said. The two day event attracted 70 foreign prospective investors and over 40 local companies. Participants from outside the country came from Asia, Europe and Far East.

SAGCOT is a public-private partnership that hopes to catalyze responsible private sector investment, that will bring major benefits to domestic food supply, engage with smallholder farmers and local communities and strive to do so in an environmental sustainable way.

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