The Tanzania Investment Centre (TIC) has been urged to work tirelessly and diligently in attracting more investors whose flow to the continent has been declining over the past two years.

Emmanuel ole Naiko, former TIC executive director

The challenge was given by Emmanuel ole Naiko, former TIC executive director at a farewell party hosted for him by the agency’s staff in Dar es Salaam at the weekend.

Ole Naiko joined a club of Tanzania’s senior citizens mid last year after reaching the mandatory retirement age.

He served worked for five years and a half at the helm of the country’s investment body after appointment in December 2005.

“I urge you to continue working hard to attract more investments into the country,” he said.

He called on TIC staff members to ensure that a strong cadre of entrepreneurs is built in Tanzania, adding that true and sustainable development will be brought by countrymen and not foreigners.

He cited agriculture, tourism and minerals as the sectors that TIC should work hard to improve their performance.

Expressing concern on the small share of foreign direct investment (FDIs) developing countries including Tanzania get, he said more efforts should be made to improve the situation.

Citing the January Global Investment Trade Monitor report, the former investment executive said that though FDIs increased in 2011 to various parts of the world by 17 per cent or equivalent to USD1.5trn, the flow was low to the African continent.

“FDI coming into Africa has been declining for the past consecutive three years,” he said, adding that the TIC board in collaboration with its staff should view the situation as a challenge to seriously work on.

Meanwhile, TIC board Chairman Ambassador Elly Mtango has applauded Ole Naiko, saying ha was an exemplary leader who has led the centre into one of the successful government’s development agency.

“Your tenure was characterised with successes and we are proud of you,” Ambassador Mtango said.

He said members at the agency should emulate and uphold the good things done by the former TIC boss for the better future of the country.

He called on TIC staffs to make sure that they work hard and steer ahead the agency to make it attain its five year corporate strategic plan aimed at widening the country’s investment base.


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