business and investments blog

IMPENDING VISIT BY BRITISH INVESTORS HIGHLY WELCOME

By Editor

No country is an island, all on its own. None, however rich or powerful, can stand or develop without assistance or cooperation from outside.

This is the gist of international cooperation. For instance, despite all its wealth, the US imports massive amounts of fuel from the Middle East and coal from Russia. On the other hand, the UK imports bales and bales of cotton from African countries to feed its textile factories. There are countless other examples.

It is no wonder, then, that a number of British investors have expressed interest in coming to Tanzania to scout for investment opportunities.

According to the Tanzania Investment Centre, preference would be in advising the investors to pump their money into the agricultural sector. Surely, this is the right advice for the investors, and we have reasons to say so.

Colonial Britain had a lot of investments in Tanganyika and then Tanzania, especially in agriculture, before we got independence in 1961. For instance, the British investment company then popularly known as Lonrho directed hefty amounts of money into the development of tea estates in the Usambara and southern highlands.

As such, it should not come as much of a surprise if British investors continue with investments left by their parents or grandparents. They could as well venture into the cultivation of cotton to feed textile factories back home – or concentrate on food crops like maize and rice.

While it will be recalled that Tanzania was a world-acclaimed sisal and cotton grower, the abundance of arable land in the country means that the British investors could gainfully engage in the cultivation of various other crops.

It is ironical that Tanzania is blessed with vast tracts of arable land – and places a premium on the development of agriculture – yet there are pockets of intermittent food shortages.

Granted, the weather has not always been very kind, often translating into poor harvests. However, just why can’t we outgrow the decades-old habit of making ourselves be at the mercy of climatic conditions?

The impact of climate change is a global phenomenon, and it would be pointless for any country to shed tears instead of seeking ways to mitigate it. Rather, we need to adopt better and therefore more efficient agricultural methods that promise much better harvests with less toil.

Of course, we need to have the needed financial and other resources to ensure things work according to plan. But doesn’t the much-touted national agricultural initiative known as Kilimo Kwanza adequately discuss the right way forward, including how to go about irrigation more meaningfully than previously, how to develop higher yielding seeds and better types of fertiliser and pesticides?

We agree with TIC that investors ought to extend preferential treatment to agriculture by growing food and cash crops to satisfy domestic demand, while selling the surplus both to countries bordering Tanzania and beyond.

It is not empty rhetoric suggesting that agriculture is the backbone of Tanzania’s social and economic development, and any measures meant to make the sector will always be most welcome.

This is precisely why we believe reports of plans by British investors to explore investment opportunities in Tanzania, especially in agriculture, are cause for hope. 

SOURCE: THE GUARDIAN 9^th April 2014