Ms Christine Musisi, Resident Representative, UNDP Tanzania speaks at the Tanzania SDG Investment Forum
Dar es Salaam, 30 November 2022: The first ever Tanzania Sustainable Development Goals (SDGs) Investment Forum was held today in Dar es Salaam, co-hosted by UNDP, Tanzania Investment Centre (TIC) in collaboration with the Government of Tanzania through the Ministry of Investment, Industry and Trade (MIIT), the United Nations Capital Development Fund (UNCDF). The Forum was graced by the Prime Minister of Tanzania, Hon. Kassim Majaliwa and reflected on the theme “Invest in Tanzania’s Sustainable Future”.
The aim of Tanzania SDGs Investment Forum was to launch the Tanzania SDG Invest Map (the Map), a market intelligence tool that identifies investment themes and business models – Investment Opportunity Areas (IOAs) – where national sustainable development need, government policy and market demand meet. The event also facilitated dialogue between investors and enterprises / projects within the IOAs. The Forum also aimed to create an avenue for public policy dialogue around Tanzania’s agenda to mobilize SDG-aligned investments to accelerate progress of the SDGs in the country.
UNDP, MIIT and TIC partnered to conduct the Map, to guide investors towards the IOAs that have the potential to advance the Sustainable Development Goals (SDGs) and the achievement of Third National Five-Year Development Plan (FYDP III).
The Map identified 13 IOAs across 5 priority sectors: Food and Agriculture, Renewable Resources and Alternative Energy, Infrastructure, Education and Services. Many of these sectors provide opportunities for regional integration through emerging Value Chains (VCs) opportunities where business decision can be made to invest in the African Continental Free Trade Area (AfCFTA). The comprehensive market intelligence from Tanzania is available publicly on the global SDG Investor Platform at sdginvestorplatform.undp.org/country/tanzania.
In line with the SDG Investor Map methodology developed by SDG Impact, a UNDP Sustainable Finance Hub flagship initiative, it underwent an extensive research and consultative process with key public and private stakeholders in Tanzania. As part of that process, each IOA went through a validation workshop in Dar es Salaam and Zanzibar with the aim of identifying investment themes and business models that have strong potential to advance the SDGs and comprehensive data sets
The Forum included a special pitching session from the Growth Stage Impact Ventures (GSIV) programme finalists and TIC projects, which are aligned to the Map and identified IOAs to the potential investors in the room. It sparked fascinating discussions with key stakeholders on the investment landscape in Tanzania and the results of the Map. The goal of the Forum is to facilitate productive discussion and ideation between local and global allocators of capital under the framework of the SDGs, broker resilient investment relationships, and share new ideas, connections, and tools amongst investors and businesspeople that enable the uptake of UNDP-produced market intelligence from the Map and the establishment of new investment relationships and drive greater and more diverse volumes of capital to accelerate SDGs progress in Tanzania.
During the Forum, UNDP’s five Growth Stage Impact Ventures (GSIV) had an opportunity to present their products to potential investors. The GSIV programme is a highly competitive process launched by UNDP Tanzania to identify enterprises with a proven impact, demonstrated product-market fit, and a revenue-generating self-sustainable model or that have already raised a round of investment. Over 80 ventures were nominated to participate in the selection process by third parties such as accelerators, impact funds, family offices, international organizations, and government.
The Prime Minister stated that, "The current UN Development Assistance Plan (UNDAP II) is anchored in the Sustainable Development Goals (SDGs), with a focus on the most vulnerable communities. Working in close collaboration, the UN and the Government of Tanzania, are jointly developing and implementing programs, policies, and innovative ways to reach marginalized populations. The common objective is to ensure an equal distribution of development gains across population groups and across regions, and to contribute towards achievement of key SDGs that will make a positive impact on the people of Tanzania".
Moreover, the UNDP Resident Representative, Christine Musisi highlighted on how UNDP seeks to assist and collaborate with the government in accelerating investment into Tanzania, in achieving both national and Global Goals through the Tanzania SDG Investor Map. “By providing and showcasing market opportunities for investors seeking to make not only a profit but also an impact, we are responding to the identified needs of impact investors and delivering market intelligence aligned with the SDGs. By connecting development needs to investment opportunities, we are seeking to direct financing flows toward Tanzania and contribute to reaching the SDGs” she said.
The Minister of Investment, Industry and Trade, Ally Gugu emphasized on, stating, "The launching of SDG Investor Map can standardize private sector engagement in support of sustainable investment in Tanzania. However, success of this approach will depend on the solid partnerships with the Government, private sector and financial sector and capital markets together with the UN. Given the current investment climate all investors have priority to invest in Tanzania. I know for sure you cannot invest in all sector at once but using the SDG Investor Map which is the market Intelligence you can invest in an areas where you can make the greatest contribution to help Tanzania’s economy move to another level".
TIC has taken the initiative to collaborate with UNDP since there is a growing interest among investors to attribute investment into activities that deliver strong financial returns while generating SDG impact. Tanzania has improved tremendously in creating a conducive business environment whereby the government has continued to carry out major reforms to further attract more investors to come to the country. The improvement of one-stop facilitation Centre currently hosting about 12 public institutions that offer services under one roof and the government's commitment to improve infrastructure such as roads, railway, ports, airports and electricity has enhanced our competitive advantage and now we are ready to receive investors who are interested to invest in various sectors of the economy.
The United Nations Development Programme (UNDP) works in 170 countries and territories, focusing on ending the injustice of poverty, inequality, and climate change impact. UNDP helps nations build integrated, lasting solutions for people and the planet. In Tanzania, UNDP works in collaboration with the Government and multi-stakeholders through strategic programmatic areas of Inclusive Democratic Governance, Inclusive Economic Growth and Sustainable Livelihoods and Environment Sustainability, Climate Change and Resilience. For more information visit: www.undp.org| www.undp.org/tanzania Follow us on Twitter @undptz and Facebook: UNDP Tanzania Instagram: @undptz
The Tanzania Investment Centre (TIC) was established in 1997 as the Primary Agency of the Government to coordinate, encourage, promote and facilitate investment in Tanzania and to advise the Government on investment policy and related matters. TIC grants Certificates of Incentives under authority conferred upon it by Part III, Section 17 (1-8) of Tanzania Investment Act, 1997. Holders of a certificate of incentives are entitled to various incentives as stipulated in the Investment Act, 1997
UNCDF has been present in Tanzania since 1982, promoting local economic development and financial inclusion, and enhancing local government alternative sources of funds to finance local infrastructure. UNCDF offers “last mile” finance models that unlock public and private resources, especially at the domestic level, to reduce poverty and support local economic development
About UNDP SDG Impact, part of UNDP Sustainable Finance Hub
SDG Impact is a UNDP flagship initiative, working to accelerate private sector contributions towards sustainability and the achievement of the Sustainable Development Goals (SDGs) by 2030. Its aim is to make it easier for organizations to place sustainability, the SDGs and managing for impact at the core of business and investment purpose, how value is created, and how capital is allocated through its SDG Impact Standards and the SDG Investor Map. The SDG Investor Map is housed on the SDG Investor Platform.