Tanzania has joined other African countries in seeking practical solutions to expand industrial financing and accelerate economic transformation as Deputy Minister for Finance, Mshamu Ali Munde, leads the country’s delegation at a high-level African Union (AU) ministerial meeting in Abidjan, Côte d’Ivoire.
Munde is representing the Minister for Finance,Ambassador Khamis Mussa Omar, at the 9th Joint Meeting of the AU Specialised Technical Committee (STC) on Finance, Economic Planning and Integration and the 5th Specialised Ministerial Committee on Trade, Tourism, Industry and Minerals, taking place from July 23 to 24, 2026.
The meeting brings together Finance Ministers, Trade and Industry Ministers, Central Bank Governors, AU officials and representatives from regional financial institutions to discuss ways of mobilising resources to support industrial development and strengthen Africa’s economic resilience.
For Tanzania, the discussions come at a time when the country is prioritising industrial growth, investment expansion and increased private sector participation as key drivers of job creation and economic development.
Among the key issues being discussed are strategies to increase financing for industries, improve public debt management, strengthen domestic revenue collection, develop capital markets and create better opportunities for private sector investment.
The meeting is also focusing on reforms to the international financial system to enable African countries to access affordable funding for development projects, while addressing economic challenges arising from global uncertainties and conflicts.
Delegates are further discussing the development of strategic economic corridors, industrial growth across Africa and measures to increase trade among African countries through the implementation of the African Continental Free Trade Area (AfCFTA).
Tanzania is using the platform to highlight its experience in economic management, mobilisation of domestic resources and reforms aimed at improving the investment environment.
The country’s participation also supports implementation of the National Development Vision 2050 and the Fourth Five-Year National Development Plan, which place industrialisation, investment and economic competitiveness at the centre of Tanzania’s development agenda.
The meeting, held under the theme “Financing Industrial Development in Africa for Sustainable Development,” provides an opportunity for African governments to strengthen cooperation and develop financing solutions that can help industries expand, create employment opportunities and drive sustainable economic growth across the continent.
