BANJUL: TANZANIA has intensified preparations for the 2026 African Caucus Meeting, with the Minister for Finance, Khamis Mussa Omar, leading a session to review key national agendas to be presented at the continental forum in Banjul, Gambia.
The meeting was also attended by Zanzibar Minister for Finance and Planning, Juma Malik Akil, and Tanzania’s Ambassador to Nigeria, who also covers diplomatic affairs in Gambia, Selestine Kakele.
At the meeting, Minister Omar commended Kakele for strengthening economic diplomacy and promoting investment opportunities, saying Tanzania continues to position itself as a competitive investment destination across multiple sectors, including agriculture, tourism and financial services.
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He noted that while Tanzania has traditionally relied heavily on Western markets in tourism, there is a growing need to diversify partnerships by attracting more investors from other regions, including West Africa, supported by expanded air connectivity through Air Tanzania Company Limited between Tanzania and Nigeria.
Presenting a diplomatic update, Tanzania’s Ambassador to Nigeria and Gambia said Tanzania continues to implement its economic diplomacy strategy by promoting trade and investment across West Africa. He revealed that trade in agricultural products reached US$38 million in the 2024/2025 financial year.
He added that sesame is among the leading export commodities to Nigeria, accounting for about 20 per cent of Tanzania’s production share, while investment inflows from West Africa have reached US$1.8 billion, according to data from Tanzania Investment and Special Economic Zones Authority.
Kakele further noted that several West African companies have expressed interest in investing in Tanzania, with ongoing discussions aimed at facilitating final agreements to unlock new investment opportunities.