The United Republic of Tanzania

TANZANIA INVESTMENT CENTRE





Tanzania Investment Centre (TIC) gets new boss, Dr. Maduhu Isaac Kazi .


Dr. Maduhu Isaack Kazi former Fiscal and Debt Management Manager of the Bank of Tanzania has been appointed by HE. Dr. John Pombe Magufuli, President of the United Republic of Tanzania to be the Executive Director of Tanzania Investment Centre. This is due to the statement issued by the State House on 12th July, 2020. Dr. Kazi replaces Mr. Geoffrey Mwambe who served the Centre for three years.

 

The Tanzania Investment Centre (TIC) was established in 1997 by the Tanzania Investment Act to be the Primary Agency of the Government to coordinate, encourage, promote and facilitate investment in Tanzania and to advise the Government on all investment related matters. It facilitates both foreign and local investors. The threshold for investment capital for foreign required must be at least US$500,000 for projects which are wholly owned by foreign investors or joint venture and US$100,000 for projects which are wholly owned by local Tanzanian.

 

Before the announcement by the State House, on 8th Julai, 2020 Mr. Mwambe spoke with media and told the reporters that TIC during the period of January 2016- June, 2020 has successfully registered 1,312 projects worth $20 billion which employed 67,992 Tanzanian. The data indicates that the manufacturing sector accounted for 53 percent of the total investment projects registered during the period of time.

 

It is expected that, Dkt. Maduhu will proceed at the point Mr. Mwambe ended towards improving business and investment environment in the country to attract both local and foreign investors.

 

 









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