President Jakaya Kikwete
Whilst President Kikwete espouses the benefits of investing in Tanzania to the Commonwealth Business Forum in Perth, Australia, a British M.P. is accusing him of failing to protect British investment in Tanzania.
HON. ROGER GALE M.P.
M.P. THANET NORTH
Mr Roger Gale (North Thanet) (Con): Speaking in Australia this week, President Kikwete of Tanzania urged investors in his country to reinvest the profits from their companies in his country. Unfortunately, as the Foreign and Commonwealth Office well knows, he is the same President Kikwete who is in thrall to the media baron Reginald Mengi and who has done nothing to give satisfaction to my constituents Sarah and Stewart Hermitage, whose farm in Tanzania was stolen from them by Mr Mengi’s brother. Could we have a debate in Government time to discuss not only the joys but the dangers of investing in Tanzania?
HON SIR GEORGE YOUNG
M.P. WEST HAMPSHIRE
Sir George Young: I am sorry to hear about that loss of property on the part of my hon. Friend’s constituents. I shall certainly raise the issue with the Foreign and Commonwealth Office—the FCO Minister for Europe, my right hon. Friend the Member for Aylesbury (Mr Lidington), is in his place at the moment—and see whether there are any representations it can make to get justice for the people whose property was confiscated.
PARLIAMENTARY HANSARD REPORT
JK: Africa potential global powerhouse
President Jakaya Kikwete has said that Africa had all the qualifications to be a global economic powerhouse in the 21 century if the potentials in the continent were effectively developed.
He told the Commonwealth Business Forum here yesterday that in order for the continent to get there, a number of challenges needed to be addressed in order to open the economic potential of the continent.
Giving keynote address at the meeting held at Burswood, Conference Centre the President said the African continent had a huge endowment of natural resources and its people who are important factors in its economic growth.
He said 60 per cent of Africa’s land was arable, the continent had enough water resource for irrigation and conducive weather for agriculture, all of which could enable the continent produce enough food to feed the entire world.
The President said what was needed was a great green revolution in Africa to modernise the present agricultural practices.
“This needs huge investments by governments and the private sector in modern equipment, irrigation, use of quality seeds for higher productivity, use of pesticides and fertiliser,” the President told the Commonwealth business community and senior government officials.
Apart from improving agriculture the President also said that Africa was rich in minerals, oil and natural gas, forests and marine resources.
He said among the 11 countries leading in having important minerals in the world, 10 of them were in Africa.
Africa has 10 percent of the world’s oil reserves, 50 percent of gold reserves, 98 percent of chromium, 90 percent of cobalt and platinum minerals, 70 percent tantalite and 64 percent manganese and one third of uranium.
On energy and minerals, the President said that the African continent has a lot of energy resources that can be used to generate power, adding that for the past few years, Africa has increased its natural gas and oil production.
“There are almost 19 African countries that are currently producing enough oil…and there are so many gas and oil exploration activities going on in our continent. Recently, Tanzania entered into a global list of countries that produce natural gas, and we are still searching for more”, said Kikwete.
On hydro power production, he said that Africa has the capacity and that there is a possibility of producing 39,000 MW at Inga River in Democratic Republic of Congo.
He said most African countries have adopted better economic policies. Quoting the recent International Monetary Fund (IMF) report, he said that seven countries out of 10 that will have their economies growing at high rates are in Africa.
He however, said that in most African countries there is need for an increase of investments especially in the infrastructure sector mainly in railways, roads, ports and airports.
He said that good infrastructures were a catalyst for development in all the countries.
The President Kikwete also attended another conference between Tanzania and Australia convened to discuss investment in the minerals sector.
The conference were chaired by the Executive Chairman of IPP, Reginald Mengi. Mengi is among the leaders of the Commonwealth Business Forum and is accompanied by other businessmen from Tanzania.
SOURCE: THE GUARDIAN