Local and foreign investors can capitalise on huge cashew industry potentials by establishing processing factories to make variety of products for exports, the Export and Processing Zones Authority (EPZA) has said.

Tanzania has one of the largest-sized nuts with a very high natural yield per hectare, providing a good export value for Tanzanian cashews in the international market.

Under the agriculture sector transformation agenda 10/30, Tanzania is projecting to raise raw cashew production to 1,000,000 tonnes per year by 2030 from the annual average of 220,000 tonnes, with intermediate targets of 400,000 tonnes in 2023/24 and 700,000 tonnes by 2026/27.

The Authority’s Director of Investment Promotion and Facilitation, James Maziku said during their visit at the cashew processing factory-Tan Ko Mirae Green Company from South Korean located in Mkuranga District, Coast Region, “By investing through the export processing zone and special economic zones investors can tap a lot of attractive investment potentials in cashew nut industry with promising returns,”

He said they visited six industries in Dar es Salaam and Coast Region as part of the ongoing exercise of monitoring and evaluating over 200 industries in the country that are licensed by EPZA to update its database.

Maziku said EPZA mobilises and registers large industries that produce products in Tanzania for export in order to bring foreign currency to the country, promote employment opportunities, attract new technologies, ensure that the country's raw materials are processed before being exported and attract capital from abroad to the country.

Tan-Ko Mirae Green, Operations Manager Eric Nkanda said the factory has so far employed 45 people but also generate incomes to cashew farmers in Lindi, Mtwara regions and Mkuranga District in Coast Region where it sources its raw materials.

He said the products from this factory will be processed until the final stage where apart from cashew nut production, this factory will also use cashew nuts shell to produce oil, charcoal and fertiliser.

However, Nkanda said power shedding is one of the challenges which is contributing to increased production costs.

The 5 million US dollars facility Korean cashew factory was launched in December last year having an annual processing capacity of 3,000 to 4,000 metric tonnes of raw cashews.

The factory is also producing between 2,500 to 3,000 metric tonnes of highly sought-after cashew nut shell liquid, a critical raw material for bio-heavy oil an eco-friendly fuel.

Additionally, the facility adds another dimension to its output with the manufacture of 2,500 to 3,000 metric tonnes of charcoal flake annually and fertiliser.

The EPZA team also visited the LVDI International Enterprise limited located in Temeke District, Dar es Salaam Region which is dealing with the processing of empty plastic bottles.

The Director of LVDI International Enterprise limited, Wang Lingang, said the factory provides contract jobs employments to 85 people and 54 labourers.

He said the major markets for the products made by the factory including the plastic strings are namely China, America, Russia, Korea and Vietnam.