Tanzania upping the stakes by doubling investments in infrastructure
Tanzania is increasing investments in it’s Central corridor as the country positions itself as a key logistics hub in what is expected to give Kenya a run for her money. CNBC Africa spoke to Sylvester Kasuku, Chief Executive Officer, Actiri for more.
Mon, 20 Nov 2023 15:26:43 GMT
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AI Generated Summary
- Tanzania and Kenya are investing in ambitious infrastructure projects, including the development of standard gauge railways, to improve connectivity and boost trade within the region.
- The lack of integration in Africa has resulted in stunted growth, wasted opportunities, and expensive logistics costs, prompting countries to prioritize infrastructure development to enhance economic prospects.
- East African countries are spearheading mega infrastructure projects to foster integration, improve connectivity, and create a competitive edge along key corridors, paving the way for a more connected and prosperous future in the region.
Tanzania is increasing its investments in the Central corridor as the country positions itself as a key logistics hub in East Africa, aiming to give Kenya a run for its money. The African continent, back in 2011-2012, recognized the need for integration and formulated Agenda 2063 under the African Union. As we approach the next decade, discussions in Addis Ababa are focusing on key priorities for the African continent, such as integration, infrastructure, transport, technology, and trade. This drive towards integration and development is evident across East Africa, with significant progress being made to streamline operations and enhance connectivity among countries. The lack of integration in Africa has led to stunted growth, wasted opportunities, and expensive logistics costs, hampering economic development across the continent. Tanzania and Kenya, in particular, are embarking on ambitious infrastructure projects to improve connectivity and boost trade within the region. Tanzania has committed substantial resources to build a standard gauge railway spanning over 2,000 kilometers, connecting major cities and ports along the Central Corridor. This railway network aims to facilitate seamless logistics, linking the ocean to Lake Victoria and enabling the efficient movement of goods within the region and beyond. Kenya, on the other hand, has already made progress in developing its own standard gauge railway between Mombasa and Nairobi, with plans for further extensions. The investments in railway infrastructure align with the African Union's Agenda 2063 goal of constructing over 32,000 kilometers of new railway across the continent by 2040. These initiatives are part of a broader regional effort to enhance connectivity and create a competitive edge for corridors like the Central Corridor, which now includes countries like Zambia, Malawi, DRC, and Uganda. Countries like Uganda and South Sudan are also making significant investments in highways and roads to improve accessibility and boost economic growth. Furthermore, Tanzania has entered into agreements with neighboring countries like the Democratic Republic of Congo to develop new road networks, improve port facilities, and expand railway systems to enhance regional connectivity. The East Africa region is witnessing a surge in mega infrastructure projects aimed at fostering integration and fostering economic development. With a collective focus on building integrated infrastructure and creating a competitive edge along key corridors, East African countries are laying the foundation for a more connected and prosperous future.