Hossam Heiba, President of the General Authority for Investment and Free Zones (GAFI), witnessed today the “African Investments – Egyptian Industries in Tanzania” forum, held under the auspices of GAFI. During this prominent event, Elsewedy Industrial Development (SD), a subsidiary of ELSEWEDY ELECTRIC (EE), introduced its new industrial city in Tanzania. The forum had the distinguished presence of the Executive Director of Tanzania Investment Centre, Gilead Teri, and the Head of the Egyptian Commercial Service, Yahya Al-Wathiq Billah. They were joined by, the President and CEO of ELSEWEDY ELECTRIC (EE), Eng. Ahmed Elsewedy, the CEO of Elsewedy Industrial Development, Mohamed AlKammah, ELSEWEDY ELECTRIC East Africa Managing Director, Ibrahim Qamar, and elite of 100 notable Egyptian industrialists.
With an unwavering commitment to strengthening investment in Tanzania, Elsewedy Industrial Development has welcomed an eminent group of businessmen and investors for a productive meeting with Tanzanian counterparts and senior government officials. The discussion focused on the local business landscape, promising investment opportunities, and attractive incentives for foreign investors. This gathering aimed to foster potential collaborations and mutually advantageous ventures in various sectors including engineering, food and beverages, pharmaceuticals, and construction. Additionally, the participants explored the significant role played by SD to bolster investments in Tanzania.
Hossam Heiba underscored the significance of hosting the “African Investments – Egyptian Industries in Tanzania” forum as evidence of the ongoing development of Egyptian-Tanzanian relations across political, economic, and cultural spheres in recent years. He pointed out that there are numerous opportunities for future collaboration to promote growth and leverage the respective competitive advantages of both nations, notably their strategic geographical positioning and improved investment environment.
The President of GAFI also emphasized that the challenges confronting the global economy present promising opportunities for investment partnerships among African nations. He indicated that the authority has signed multiple memorandums of understanding with African institutions, with the aim of encouraging Egyptian companies to collaborate with businesses across Africa.
Gilead Teri, Executive Director of the Tanzania Investment Centre, highlighted the boundless investment opportunities in Tanzania. He discussed the incentives provided to international investors and the efficient single-window system designed to cater to their needs. Additionally, he mentioned that Tanzania boasts abundant natural resources and a large market with 60 million consumers. Moreover, Tanzania has trade and development agreements with several states, notably the SADC Treaty, which includes 15 other African nations.
Teri noted that his government intends to forge investment partnerships with Egypt in the manufacturing, pharmaceutical, and food industries. They aim to leverage Egyptian expertise in real estate investment and infrastructure development, especially given Tanzania’s significant expansion in infrastructure projects, which has led to a substantial reduction in production costs in the region. This has resulted in Egyptian investments in Tanzania reaching USD 1.3 billion since 1997.
Mohamed AlKammah, CEO of Elsewedy Industrial Development, expressed his great pleasure to participate in this gathering that united 100 distinguished leaders from the Egyptian industry. He eagerly anticipates collaborating in diverse fields and leveraging Egypt’s industrial strengths for the mutual benefit of both nations, as well as reinforcing trade and Egyptian investments in Tanzania.
“SD’s Industrial City in Tanzania strives to attract investments surpassing USD 400 million from investors throughout the region. This ambitious endeavor aims to generate more than 50,000 employment opportunities, thereby offering substantial support to the country’s industrial growth and manufacturing strategy for 2025,” AlKammah added.
Ibrahim Qamar, ELSEWEDY ELECTRIC East Africa Managing Director, discussed the company’s substantial investment contributions in Tanzania. He emphasized several noteworthy projects, notably the Julius Nyerere Hydropower Project, which stands as the largest hydroelectric power station in Tanzania. He also brought up the factories producing cables, transformers, and electrical components that commenced operations in 2021. These facilities are geared towards exporting their products to neighboring countries such as Kenya, Rwanda, and the Democratic Republic of the Congo.
Eng. Ahmed Elsewedy, CEO and President of ELSEWEDY ELECTRIC (EE), stated, “ELSEWEDY ELECTRIC established its foothold in Tanzania in 2018, guided by a firm belief in the government’s supportive and investment-friendly policies, which have further empowered its expansion initiatives across Africa. This significant investment stands as a testament to our confidence in the Tanzanian state and the country’s economic resurgence. Moreover, its strategic location, bordering eight countries, six of which are predominantly landlocked, positions it as a vibrant center for economic activities and a pivotal regional transit hub.”
It is worth noting that Elsewedy Industrial City (EIC) in Tanzania is an integrated industrial zone spanning an impressive area of 2.6 million square meters. This well-planned development is designed to accommodate strategically important industries, including pharmaceuticals, construction materials, food and beverages, and engineering sectors. Additionally, the city will feature residential areas for workers and a range of amenities. Situated in the Kibaha District of Tanzania, the city enjoys a favorable location just 15 km away from the Kwala Dry Port, which is home to the Ruvu station of the Standard Gauge Railway (SGR). This railway system stretches across approximately 2,000 kilometers, connecting Dar es Salaam to the Industrial City and significantly reducing travel time between the two locations to a mere 45 minutes.
Furthermore, Elsewedy Industrial City encompasses the Elsewedy Technical Academy, providing top-tier technical and vocational education. The academy is committed to equipping the Tanzanian workforce with the necessary skills and knowledge to meet the ever-changing demands of the global job market.
Elsewedy Industrial Development has established several industrial cities in Egypt, with projects located in 6th of October, Sokhna, Alamein, and Sadat.