The CEO Roundtable of Tanzania (CEOrt) has called on private sector leaders to take a more proactive role in driving Tanzania’s ambition of becoming a US$1 trillion economy by 2050, emphasizing the need for visionary business leadership, innovation, responsible investment and stronger collaboration between the Government and the private sector.
The call was made during a strategic reflection and dialogue event themed “Beyond Business as Usual: Rethinking Leadership, Innovation and Tanzania’s Future,” where CEOrt unveiled its new five-year strategic direction following the successful completion of its 2022–2025 Strategic Plan.
Speaking during the engagement, CEOrt Executive Director, Ms. Santina Benson said the organisation’s new strategic phase comes at a pivotal moment as Tanzania advances the implementation of Vision 2050, which requires businesses to play a central role in accelerating economic transformation.
She said although the country has set an ambitious target for the private sector to contribute about 70 percent towards achieving Vision 2050 goals and the trillion-dollar economy agenda, businesses must now move beyond commitments and translate the ambition into measurable actions.
“There have been many bold statements about the private sector contributing 70 percent to Tanzania’s economy by 2050 and helping build a one-trillion-dollar economy. The real question is whether we fully understand what it will take to achieve that ambition and what is expected from all of us,” Ms. Santina said.
She challenged business leaders to critically assess their contribution towards building a competitive economy, improving the investment climate and supporting policies that create an environment for sustainable growth.
Ms. Santina explained that CEOrt’s new strategy is anchored on six strategic priorities designed to increase value for members, strengthen policy engagement, promote responsible business practices and expand opportunities for women and youth in Tanzania through targeted interventions.
Delivering the keynote address, Founder of electric vehicle company Kaypee Motors, Ali Masoud, popularly known as Kipanya, noted that countries across the world are increasingly competing to create better economic opportunities for their citizens, urging Tanzania to strengthen systems that enable people to build successful lives within the country.
Referring to global debates around migration and economic opportunities, including anti-immigration protests in South Africa, Mr. Masoud emphasised Tanzania must create an environment where citizens can find meaningful opportunities at home.
“When Tanzanians leave in search of opportunities elsewhere, it challenges us to ask why. Is it because other countries offer better systems, better services and greater opportunities? If so, what must we do differently to make Tanzania a place where our people can thrive?” he questioned.
Mr. Masoud said the responsibility placed on the private sector under Vision 2050 requires leaders to examine how they create value, conduct business and contribute to improving the livelihoods of Tanzanians.
“Vision 2050 places enormous responsibility on the private sector. If we are expected to deliver 70 percent of that vision, then we must ask ourselves difficult questions about how we do business, how we make our profits, and whether our success is contributing to the welfare of our nation,” he said.
Earlier, CEOrt Board Director, Mr. David Nchimbi, while welcoming Mr. Masoud, said the event marked an important milestone as the organisation reflected on achievements made during the implementation of its 2022–2025 Strategic Plan and prepared for its next five-year journey.
He said the gathering provided an opportunity for CEOrt members and partners to review progress, exchange experiences and contribute ideas that will shape the organisation’s future direction.
“Over the past four years, CEOrt has implemented its 2022–2025 strategy with significant progress. This evening gives us the opportunity to reflect on that journey, share our achievements with members and partners, and introduce the strategic direction that will guide us over the next five years,” Nchimbi said.
He reaffirmed CEOrt’s commitment to promoting business leadership, strengthening public-private dialogue and encouraging responsible business practices that support Tanzania’s long-term development aspirations.
