A Tanzanian investor has injected more than TZS 2 billion into a hotel project in Geita Region, reinforcing the growing contribution of domestic investors to the country’s economic transformation.
The investment, owned by Leonard Bugomola Kiganga, is being implemented through LENNY HOTELS LIMITED at Bombambili in Geita.
The project is expected to create no fewer than 200 jobs for Tanzanians, directly and indirectly, once fully operational.
Registered on November 6, 2024, the hotel project is emerging as a notable example of local private sector participation in the hospitality industry, a sector that continues to support tourism, trade and service delivery in the Lake Zone.
The project was on Monday inspected by the Tanzania Investment and Special Economic Zones Authority (TISEZA) during an official visit aimed at identifying, recognising and supporting investments by Tanzanian nationals.
The visit also served as a platform to brief the investor on investment incentives and tax reliefs offered by the government to promote domestic capital formation.
Speaking during the visit, the Geita Regional Commissioner welcomed TISEZA to the region and reaffirmed the government’s commitment to prioritising Tanzanians in investment opportunities.
He said the government continues to allocate designated investment areas across regions and, where necessary, provide free land to facilitate the development of industries and other strategic projects.
TISEZA officials said investment incentives are increasingly accessible to local investors, particularly in the services and production sectors, with the aim of strengthening the national economy and expanding employment opportunities. They encouraged more Tanzanians to take advantage of the improved investment climate.
The LENNY HOTELS LIMITED project reflects the government’s broader efforts to create a favourable environment for investment while encouraging local entrepreneurs to play a leading role in driving inclusive social and economic development.