The US government, through its agency for international development, has invested 8.3 million US dollars in several Tanzanian firms to boost trade.
The development is also aimed to improve food security and strengthen Tanzania’s competitiveness in the export arena through the African Growth and Opportunity Act.
This was revealed yesterday by the USAID Mission Director for Tanzania, Craig Hart, at the showcase event of the USAID Africa Trade and Investment Activity.
The event held in Dar es Salaam, was officiated by the Minister for Industry and Trade, Dr Selemani Jafo.
According to the USAID Mission Director for Tanzania, nine local firms will receive grants under the USAID Africa Trade and Investment Project, including BioBuu, Biotan Limited, Central Park Bees, Minjingu Mines and Fertiliser Limited, Mount Meru Millers, Red Earth Limited, Sabayi Investments Limited, Tanzania Tooku Garments Co. Ltd and Thirdman (Upendo Honey).
Mr Hart said: “Today, we celebrate USAID partnerships with nine companies across key sectors, including honey, cashew and garments.
“These partnerships are expected to generate 2,000 jobs, drive 42.5 million US dollars (110.5bn/-) in new exports, and boost Tanzania’s role as a regional economic hub.
“We’re paving the way for Tanzania to become a regional breadbasket, energy exporter and youth-driven innovation hub and through AGOA, we are helping Tanzanian firms find markets in America.
“To highlight a few of the expected results stemming from these new partnerships; Tanzania is well-positioned to expand its honey production as it is currently Africa’s second-largest honey producer and the top supplier to the EU.”
