JACANA , a pan-African Small and Medium Entrepreneurship (SME) private equity firm, has invested one million US dollars (over 1.6bn/-) in the Dar es Salaam Corridor Group (DCG).
The new investment will help DCG, a dry bulk cargo handling company at the port of Dar es Salaam, to expand its scope of handling dry bulk cargo.
Jacana Senior Official Ezra Musoke said in Dar es Salaam yesterday that the investment will have a significant social impact, helping to create up to 150 new jobs, increase port efficiency and support growth of key sectors of the economy--agribusiness, mining and construction.
"Tanzania is a highgrowing market with a flourishing SME sector, with potential for a strong market position, long-term customer relationships and potential for further growth," he said.
The DCG Chief Executive Officer, Mr Erik Kok, said the firm has a number of new opportunities, thanks to rising regional importance of the Dar es Salaam port that not only serves Tanzania but it is also a gateway for exports and imports for several landlocked African countries.
"We look forward accessing the required capital for continued business growth but also the deep experience that the Jacana brings to the table," he said, adding that the positive outlook of the sectors that DCG serves means there is highgrowth potential for the company.
According to Mr Kok, DCG is the only purpose-built dry bulk cargo handling terminal in Sub- Saharan Africa and offers secure, reliable and cost effective means of handling commodities for companies operating in East Africa. The new investment will finance the expansion of DCG's storage capacity in terms of volumes and range of commodities.
A new cargo handling site will contribute to the development of the regional trade corridor, he said. Founded in 2004, DCG services include ship to shore discharge of cargo, container stuffing and de-stuffing as well as logistical services for forwarding of materials.