Dar es Salaam — Tanzania is now considered as one of the best destinations for investments in east and Central Africa due to among other things the favourable environment that the Fifth Phase Government has put in place for investors.
Among global companies that have used this opportunity well is BASF, the world's leading chemical company.
BASF has unveiled a new office in Dar es Salaam and they look forward to offer both sales and technical support to Tanzania customers.
The colourful ceremony took place recently at Mikocheni and was graced by the German Ambassador to Tanzania, Detlef Waechter, who lauded BASF for the move saying this is a great opportunity as more Tanzanians will be able to benefit from the products and acees them easily.
BASF began doing business on the African continent about 90 years ago focussing on the key industries of construction, textiles, automotive, agriculture, plastics, and healthcare sectors.
According to BASF's Vice President for Africa, Michael Gotsche, "Our presence in Tanzania will allow us to respond to challenges arising from the competitive conditions in the market, while also extending our reach to more customers."
He says part of the company's growth strategy in Africa is to invest in local presence and local production adding that BASF has in the recent past opened offices in Zambia, Ivory Coast, and Kenya.
"The establishment of a new office in Tanzania will now expand BASF's footprint on the continent and will nurture partnerships and innovation geared towards sustainable growth, says Gotsche.
He further states that BASF is constantly assessing the company's economic performance and is taking the necessary steps geared towards expanding into new markets and making our products easily accessible to our customers.
Drawing on professional experience and a broad portfolio that ranges from performance products, plastics, chemicals, oil and gas as well as crop protection products, BASF, according to the Vice President for Africa, aims to ensure that existing customers get the service and support they need.
On his part, the BASF Tanzania's Managing Director, Mats Idvall, BASF's top priority is to exceed its customers' expectations.
"Tanzania represents a commercial and industrial hub for businesses thanks to its vibrant and stable economy", he says adding that the establishment of the new office confirms BASF's commitment to growing the business in this important and strategic market.
He says at BASF, they create chemistry for a sustainable future and combine economic success with environmental protection and social responsibility.
"The more than 115,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas," he adds.
A statement issued by BASF recently says that the company generated sales of €64.5 billion in 2017.
BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS).