By Alfred Zacharia
Tanzania and Canada are set to deepen their long-standing cooperation through new investments in education and health sectors, Finance Minister Dr. Mwigulu Nchemba has said.
He made the remarks in Dodoma after meeting with the Canadian High Commissioner to Tanzania, Ms Emilly Burns today in Dodoma, discussing ways to strengthen economic and trade relations.
According to Dr. Nchemba, the two nations are implementing two key development projects worth over TZS 248.5 billion.
These include an education project worth TZS 102.9 billion and a health initiative valued at TZS 145.6 billion.
“About half of the funds have already been disbursed, and implementation is ongoing,” said Dr Nchemba.
Canada’s development finance institution, FinDev, is also expected to invest in Tanzanian banks, including CRDB and TCB.
The investment aims to support small-scale entrepreneurs through affordable loans.
Dr. Nchemba said the government welcomes FinDev’s interest and is ready to revive tax cooperation with Canada.
He noted that Tanzania offers favorable tax terms to international institutions that provide affordable credit to local financial institutions.
“This is a good development. Our technical teams will work on the areas that slow down cooperation in financial matters,” he said.
The minister added that President Samia Suluhu Hassan had already formed a commission to review Tanzania’s tax structure.
The goal is to improve the system and attract more investment.
“We believe once the work is completed, our systems will be more efficient and business-friendly,” he added.
For her part, High Commissioner Emilly Burns praised the strong collaboration between the two countries. She said Canada provides about 141 million Canadian dollars annually to support projects in education, health, and economic development in Tanzania.
She said the success of these projects is due to Tanzania’s supportive approach towards Canadian institutions.
“Tanzania has managed its economy well. International organizations like the World Bank and IMF often cite Tanzania as an example of sound economic management,” she said.
“I once worked in Zambia, and at the time, IMF officials spoke highly of Tanzania. What they said was true. I congratulate you,” Ms. Burns added.
This year marks 60 years of diplomatic relations between Tanzania and Canada. The two countries aim to grow the partnership further through capital investment and expanded trade.
