The African Development Bank (AfDB) has challenged the local chief executive officers to utilise the borrowing opportunity availed by the regional bank through its private sector window.
AfDB offers non-sovereign guaranteed loans for both public and private sectors in the regional member countries to enterprises engaged in activities in any sector, including, but not limited to, manufacturing, infrastructure, extractive industries, energy, and other productive activities.
The AfDB resident representative in Tanzania, Dr Tonia Kandiero, challenged CEOs in the country whose companies deal with profitable investments to utilise the bank’s opportunities which also do equity investment.
“Tanzania has much potential in terms of profitable sectors and there are huge and endless opportunities for the bank investment,” said Ms Kandiero, during the CEO roundtable on Tuesday.
According to her, the new private sector operations reached $1.3 billion in 2012. The sponsorship is also available in local currencies.
She was invited by the CEO roundtable to give a presentation about the bank and the role it plays in financing development projects so that the private sector could determine how to chip in and explore the opportunities available.
“AfDB is a very big financier of infrastructure development and other profitable sectors but the business community is not very much aware of the opportunities the bank offers.
“We invited her since the private sector is looking for investment opportunities,” said the CEO roundtable chairman, Mr Ali Mufuruki.
The CEO Roundtable normally invites various people to talk about relevant issues which are relevant and important to the business community in order to give ideas that they can explore and invest in.
Source: The Citizen, http://www.thecitizen.co.tz