Tanzania Opens Doors for Investment in Palm Oil Plantation and Diverse Crop Cultivation

Dar es Salaam, Tanzania – In a significant move to bolster its agricultural sector, the Government of the United Republic of Tanzania, through the Tanzania Investment Centre (TIC), has announced the allocation of a vast expanse of land for the development of a palm oil plantation and other crop cultivation. This initiative is part of the country’s strategic plan to bridge the domestic gap in edible oil supply and stimulate economic growth in the Kigoma Region.

The Land and Location: The allocated land, measuring 3,249.78 hectares, is situated in the Basanza area, within the Uvinza District Council in the Kigoma Region. Designated as Farm No. 205, this land presents a promising opportunity for investors in the agricultural sector.

Strategic Development Plan: This call for investment aligns with Tanzania’s Five-Year Strategic Development Plan, focusing on reducing the country’s reliance on imported edible oils. The government has identified this land allocation as a critical step towards self-sufficiency in edible oil production.

Investment Criteria: The TIC is inviting both domestic and foreign investors to submit proposals. Applicants are expected to demonstrate technical and financial capability in agricultural commodity cultivation, processing, and marketing. The evaluation will consider the prospective investors’ experience over the past five years, backed by audited financial statements.

Project Scope and Proposals: Interested investors are required to submit detailed project proposals. These should outline the project scope, implementation timelines, investment capital breakdown, evidence of funding, and projected economic benefits. The proposals should also demonstrate the investors’ experience in developing out-grower schemes that positively impact local communities.

Terms and Conditions: Successful applicants will be granted a long-term lease on an ‘as is, where is’ basis, with specific development conditions and timelines. The lease agreement will include a clause for the developer to arrange financing without using the land as collateral until 60% of the total investment cost is achieved.

Application Process and Deadline: The deadline for submission is set for 14:00 hours EAT, Monday 12th February 2024. Applications, including earlier submissions for the same farm, must adhere to the revised requirements. Proposals should be submitted in hard copy to the Executive Director of the TIC in Dar es Salaam.

Contact Information: For further inquiries, interested parties can reach out via email at info@tic.go.tz or through the provided phone numbers.

This initiative represents a significant step for Tanzania in its pursuit of agricultural development and economic diversification. It offers a unique opportunity for investors to contribute to and benefit from Tanzania’s growing agricultural sector.