Tanzania shows interest in S.Africa's Operation Phakisa: DTI - CNBC Africa

Tanzania shows interest in S.Africa's Operation Phakisa: DTI

East Africa

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On 19 July 2014, President Jacob Zuma launched the first phase of Operation Phakisa. PHOTO: Dirco

This is according to chief director of export promotion and marketing at the Department of Trade and Industry (DTI), Zanele Sanni, who embarked on a mission to Kenya and Tanzania last week.

Sanni said that Tanzanian companies had shown great interest in South Africa’s Operation Phakisa, an initiative aimed at fast-tracking the delivery of the priorities outlined in the National Development Plan (NDP).

“The marine economy-focused Operation Phakisa is going to unlock opportunities in the shipping, fisheries, aquaculture, mining, oil and gas, bio-technology and tourism sectors and the Tanzanian private sector is enthusiastic about these opportunities,” said Sanni.

(READ MORE: Zuma to release Ocean Economy delivery plans)

She added that around one billion US dollars has been committed towards investment in oil and gas exploration in the Port of Saldanha, north west of Cape Town, as part of Operation Phakisa. An invitation has now been extended to businesspeople to access opportunities.

“The state-owned enterprises (SOEs) are keen to partner and work with other African economies with a view to prioritise investment in marine manufacturing, boat building as well as oil rig maintenance and repair. We have called on the Tanzanians, amongst others, to support our SOEs later in the year when they start visiting our shores with a view to drafting mutually beneficial value propositions in this sector,” explained Sanni.

The East African mission was also aimed at increasing trade and investment between South Africa, Kenya and Tanzania, which Sanni believes was a success due to high levels of engagement between businesspeople in both countries.

(READ MORE: Tanzania's GDP expands by 32% after rebasing - officials )

“We encourage businesspeople to follow-up on the leads [and] translate them into transactions that would lead to increased trade and investments. We hope that in six months we will be able to report on tangible transactions as a result of the mission,” said Sanni.