Mtwara poised for growth as BoT governor highlights investment prospects

By The Respondent Reporter

The Bank of Tanzania (BoT) has identified Mtwara as a region with vast investment potential, citing agriculture, energy and infrastructure as sectors that could unlock faster economic transformation.

BoT Governor Emmanuel Tutuba, who met with Mtwara Regional Commissioner Colonel Patrick Sawala and other leaders on September 18, 2025, said the Central Bank is committed to maintaining a stable financial environment that will attract investors and sustain growth. 

He noted that Tanzania’s Vision 2050 seeks to scale up the economy from the current USD 85 billion to USD 1 trillion, with regions like Mtwara expected to play a central role.

Mr Tutuba urged farmers and agribusiness players to make better use of the Tanzania Mercantile Exchange (TMX) to maximise returns from cashew nuts, sesame, pigeon peas and other crops. 

He added that productive sectors such as agriculture, livestock, fishing and beekeeping present opportunities for inclusive growth if linked effectively to markets and finance.

The Governor also underscored the importance of public-private partnerships (PPP) in delivering large-scale projects. 

He revealed that negotiations for the Liquefied Natural Gas (LNG) project are set to conclude early next year, describing it as a transformative investment for both Mtwara and the national economy.

“Mtwara has the resources, the infrastructure and the potential. What is needed is stronger participation from both the private sector and local communities to turn these opportunities into tangible growth,” Mr Tutuba said.

Regional Commissioner Sawala welcomed the BoT Governor’s commitment, noting that more than 85 percent of Mtwara’s economy depends on agriculture. 

He pointed to recent infrastructure upgrades, including the expansion of Mtwara Port, which now has the capacity to handle two million tonnes annually, improvements at the regional airport with night lighting, and new road networks linking districts.

“These developments make Mtwara more competitive and attractive to investors,” Colonel Sawala said.

The BoT Governor further pledged to strengthen financial literacy in the region, saying the Bank has prepared curricula to train both public servants and citizens on financial management.

The meeting also brought together the BoT Mtwara branch leadership, led by Director Nassor Omar.