JK to open African Business Congress

President Jakaya Kikwete

PREPARATIONS for the 4th African World Business Congress 2007 (AWBC 2007) to be officiated by President Jakaya Kikwete at Arusha’s Ngurudoto Hotel tomorrow, have been completed.

The Minister for Planning, Economy and Empowerment, Dr Juma Ngasongwa, told the 'Sunday News' over telephone from Arusha yesterday that over 400 local and foreign businessmen are expected to attend the congress.

“Everything is set and participants, including local businessmen, have already arrived here,” Dr Ngasongwa explained.

He said there would be a special night gala to showcase Tanzania’s tradition and culture today.

Explaining on the importance of the congress, the minister said it would help to promote and market local investment opportunities beyond the continent.

“Since the event is held in the country, local businessmen will be networked with their counterparts across Africa and beyond,” Dr Ngasongwa said.

The meeting would be held concurrently with Tanzania Investment Forum 2007 (TIF2007).

The main topic of AWBC 2007 will be “The ABC of creating an effective and fully operational African Private Sector.”

Tanzania won a tender that was floated by the African Business Roundtable and NEPAD Business Group to host prestigious event early this year.

Six countries competed. Other countries that have hosted the AWBC are Senegal (2004), Ghana (2005) and Mali (2006) where big business deals were also signed during the past three congresses.

In the recent World Bank Report Doing Business 2007: How to Reform, Tanzania was among the top ten reformers across 175 countries.

Tanzania is ideally located as a potential trading hub to the landlocked countries of Malawi, Zambia, DRC Congo, Burundi and Rwanda.

Tanzania’s membership of both SADC and the East Africa Community gives Tanzania access to trading blocks of 215 million and 108 million people.