Ntandothando Group, a Johannesburg-based company from South Africa, has officially shown interest in investing in the Green Smart City project located in the Njedengwa area of Dodoma.
This ambitious initiative is being managed by Hazina Savings and Credit Cooperative Society (Hazina Saccos).
The announcement was made in Dodoma by Dr. Festo Mwaipaja, the Chief Executive Officer of Hazina Saccos, during a meeting with Mr. Lucas Mteto, the Chairman and CEO of Ntandothando Group.
Dr. Mwaipaja highlighted that extensive discussions had been held with the potential investor, including a site visit to the Njedengwa area.
He expressed that the location was particularly attractive due to its alignment with the company’s vision of investing in environmentally sustainable projects.
“This project, once completed, promises significant benefits for the nation by promoting environmental conservation, increasing tax revenue, creating employment opportunities, and supporting the President’s efforts to implement eco-friendly projects. It will include systems designed to mitigate pollution,” Dr. Mwaipaja explained.
He emphasized that the project would offer multiple advantages to Hazina Saccos members, including dividend payments from project profits, reduced interest rates on loans, and a new revenue stream for the Saccos, ensuring its long-term sustainability. In addition, the surrounding community would benefit from the services provided by the project.
Dr. Mwaipaja further explained that Hazina Saccos had conducted a thorough feasibility study of the investment area, concluding that the venture would yield significant returns for the Saccos, the investors, and the country as a whole.
In 2014, the Hazina Saccos Board identified the Njedengwa area as a promising location for investment.
To ensure they selected the most suitable investor, the Board established an independent entity to assist in attracting potential investors. A committee comprising experts from various public institutions was formed to oversee this process.
Mr. Lucas Mteto, Chairman and CEO of Ntandothando Group, shared that the discussions with Dr. Mwaipaja and the Investment Committee Chairman for the Njedengwa area had been very productive following their visit to the site.
He stated that the investment area was well-suited for a project that focuses on environmental sustainability, and it could serve as a model for similar investments within Dodoma.
Ntandothando Group has previously undertaken projects across Africa, benefiting both the company and the local communities involved.
Professor Ester Ishengoma, Chairman of the Njedengwa Project Investment Committee and a faculty member at the University of Dar es Salaam’s School of Business, expressed the committee’s satisfaction with the investor’s genuine interest in the project.
She noted that they had initiated the first steps of the investment process, including site visits and discussions on how to move forward with the project’s implementation.
Professor Ishengoma also highlighted that Ntandothando Group, the selected investor, specializes in construction, agriculture, and Information Technology systems, making them a strong partner for the Green Smart City project.
