Kigoma to host second Lake Tanganyika business summit in May

16Apr 2022
Adela Madyane
Kigoma
Business
The Guardian
Kigoma to host second Lake Tanganyika business summit in May

KIGOMA is expected to host the second Tanganyika Business summit next month, targeting to strengthen cross border trade and investments among Great Lakes region countries.

Democratic Republic of Congo (DRC) also uses Dar es Salaam port via Kigoma port for transacting its imports and exports goods, while Burundi also depends on the region as main source of investments, goods and services. PHOTO/FILE

The summit scheduled to start from May 9 to May 11 will be attended by business communities across the region, mainly Rwanda, Congo DRC, Burundi and Zambia

The summit is organized by Kigoma municipal in collaboration with Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA), Tanzania National Business Council ( TNB), Tanzania Investments Center (TIC), TANTRADE, Alliance for Green Revolution (AGRA), Kigoma Joint Program (KJP), International Trade Centre (ITC) and Afro Premier the guest of honor being the president of Tanzania Samia Suluhu Hassan.

The objective of the Summit was bringing together stakeholder from Tanzania and neighboring countries across Lake Tanganyika to deliberate and come up with the joint agreements that will spell out commitment of each Country to resolve issues impending cross border trade.

Speaking to journalist on the preparation of the event, the Kigoma Regional Commissioner Thobias Andengenye said being the center of cross border business via Lake Tanganyika; the region will strengthen its ability of speedy loading and offloading cargos at the port, hence revisiting all trade barriers.

He said apart from the summit, there will be a business exhibition from all countries, calling for Tanzanians to exploit this opportunities tin exploring regional markets and investment opportunities as well as to build business connections.

"The summit will attract 500 business people from all over the participating countries and entrepreneurs will be guided on how promote their businesses" said Andengenye.

On the side of regional trade officer Deogratius Sangu said the summit will strengthen industrial economy and promote investments within the region, considering nearly all participating countries use Tanzania ports as the gateway for their imports and exports trade.

Democratic Republic of Congo (DRC) also uses Dar es Salaam port via Kigoma port for transacting its imports and exports goods, while Burundi also depends on the region as main source of investments, goods and services.

Quoting the Bank of Tanzania  (BoT) report, TCCIA chairperson Abdul Mwilima said in 2018, the regional trade volumes via Kigoma amounted 750bn/-, higher than 600bn/- generated from the northern borders with Kenya.

" One border of Kigoma region edged four borders in North Tanzania and it's our hope that, through this business summit we increase revenue by up to  40 percent to one trillion if the border trades will be well managed" said Mwilima.

He added that they have communicated with other business chambers in Rubumbashi, Kalemi, Bukavu and Goma where there are more than 30 million people doing businesses.

Among of the 24 summit resolutions that aimed to improve the business environment and networks between these countries are the elimination of visas between Tanzania and the Democratic Republic of Congo, the presence of transparency in the transportation activities and the introduction of a joint program to deal with cross border trade as well as presence of informal controls of non-formal levies at the border areas.