More than 200 participants including foreign investors meet in Dar es Salaam on Wednesday for an international conference on venture capital and private equity investment financing in Tanzania.
The symposium will be held by the Tanzania Sector Foundation (TPSF) in collaboration with TMS Consultants and Statera Capital.
The Executive Director of the Tanzania Private Sector Foundation (TPSF), Mr Godfrey Simbeye, said the main objective of the symposium was to expand investment opportunities available in Tanzania through non banking financial instruments specifically venture capital and private equity financing.
“There is a need for Tanzanians to venture in business capital in order to create different business opportunities that would benefit both the people and the country in eradicating poverty,” said Mr Simbeye.
He pointed out that the attendees are controlling estimated 7 million US dollars of investable funds and business enterprise value.
“Tanzanian’s top business leaders seeking to grow their businesses and international investors who are seeking to access Tanzanian partners and investment opportunities are welcomed on board,” he said.
The Managing Director of Statera Capital, Mr David Ross, said the conference is expected to create opportunities that can help boost in the market Tanzanian products and investments.
“This is a chance for people to receive investment opportunities and a time for Tanzanians to identify areas since we are looking for businesses to help them grow,” said Mr Ross.
On his part, the Managing Director of TMS Consult, Mr Sebastian Kingu, said that Tanzania was endowed with abundant resources which have the potential to propel the country into new development heights.
“The time is now to stop exporting raw materials to other countries and concentrate on industrial revolution. Earlier the problem was capital but this symposium is a source for capital for an industrialized Tanzania,” he said.
Culled from allafrica.com