Tanzania: Investors Eye Local, Regional Markets

INVESTORS in construction materials have pledged to raise investment to cater for the huge local and regional market with the government guaranteeing to continue improving the business environment.

This was said by the Managing Director of the German-based firm, KNAUF Tanzania, Mr Zachopoulos Georgios while briefing the Vice-President Samia Suluhu Hasan during her visit to the Coast Region over the weekend.

"Our company would continue to make further investment to make sure that quality construction materials and equipment are available locally with plans to sale in neighbouring countries," he said, adding that his company had so far invested over 20bn/-.

To realise the industrialisation drive, the VP said the government would continue creating better environment for business growth including dealing with power problem which affects many businesses.

Mr Georgios noted that KNAUF that produces gypsum and other construction materials was currently working in over 200 countries in the world adding that its Tanzania office is the first in Sub Sahara African region.

"We have decided to station our headquarters in Tanzania due to excellent geographic position. We can easily access landlocked countries which surround Tanzania and expand our market," he said.

He further noted that peace, stability, big population and growing construction sector in Tanzania offer excellent condition for growth of their business.

Under normal circumstance he said, his company produces gypsum basing on customer demands. He however said, the company was also producing 9-12mm gypsum which is good for preventing house from fire and moisture caused by rain water.

The company is also training local youths on new technology for making and fixing gypsum. "After completion of the training programme, we issue them with globally recognised certificates so that they can be recognised wherever they will be," he insisted.

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