INTRODUCTION
A comprehensive panelist discussion at the 2024 Africa Summit organised by Financial Times in London, by Rostam Azizi(Chairman, Taifa Group Ltd.), January Makamba (Member of Parliament, Government of Tanzania) and Ben Parkin(Middle East and African News Editor, Financial Times). The keynotes taken from this valuable panel discussion are;
TANZANIA IS A GREAT GEOGRAPHIC SOURCE OF TRADING.
It was said that Tanzania acts as the centre for trade by many African nations with Asia, Middle East and European countries. It was also stated by the panelist that the geographical location of Tanzania makes it a huge hinterland with access to the sea. It was stated emphatically by them that this great access to the hinterland makes Tanzania one of the countries that has really benefited from its geographical location.
MEASURES THAT TANZANIA SHOULD TAKE TO ENSURE INTERNATIONAL AGREEMENTS.
From the panelist discussion, it was agreed by both sides that Tanzania and African countries as a whole, when venturing into any international agreements, must create a policy that will help global funds to give them quotas that will benefit their nations. In view of this, they cited an example of the current trend in African nations on international agreements and said that African countries receive one per cent (1%) of lending and they pay eight per cent (8%) as the interest rate from the lending of funds given to them.
NEED FOR INFRASTRUCTURE IN TANZANIA
The panelist also discussed how infrastructure will help elevate the economy of Tanzania. They said there must be a railway network that will connect Tanzania to the hinterland. They also said that borrowing will never solve the problem of lack of infrastructure in the nation. They cited an example by saying that the default rate in Africa is less as compared to European countries yet Africans are punished with high interest rates.
CONCLUSION
To conclude, it was briefly said that Tanzania’s trading with the international market is for the benefit of the nation and their national resources and assets won’t be stripped off but will be used for the benefit of the people.
