UNDP and Tanzanian Investment Centre (TIC) host first SDGs Investment Forum
December 8, 2022
The first ever Tanzania Sustainable Development Goals (SDGs) Investment Forum was held on November 30, 2022 in Dar es Salaam, co-hosted by Istanbul International Center for Private Sector in Development (IICPSD), UNDP Tanzania, UNCDF and Tanzania Investment Centre (TIC) in collaboration with the Government of Tanzania through the Ministry of Investment, Industry and Trade (MIIT), the United Nations Capital Development Fund (UNCDF). The Forum was graced by Hon. Dr. Stergomena Lawrence Tax, Minister of Foreign Affairs and East African Cooperation United Republic of Tanzania and reflected on the theme “Invest in Tanzania’s Sustainable Future”.
The Tanzania SDGs Investment Forum aimed to serve the purpose of launching the Tanzania SDG Investor Map (the Map), a market intelligence tool that identifies investment themes and business models – Investment Opportunity Areas (IOAs) – where national sustainable development need, government policy and market demand meet. The event also facilitated dialogue between investors and enterprises/projects within the IOAs. The Forum aimed to create an avenue for public policy dialogue around Tanzania’s agenda to mobilize SDG-aligned investments to accelerate progress of the SDGs in the country.
UNDP, MIIT and TIC partnered to conduct the Map, to guide investors towards the IOAs that have the potential to advance the Sustainable Development Goals (SDGs) and the achievement of Third National Five-Year Development Plan (FYDP III).
The Map identified 13 IOAs across 5 priority sectors: Food and Agriculture, Renewable Resources and Alternative Energy, Infrastructure, Education and Services. Many of these sectors provide opportunities for regional integration through emerging Value Chains (VCs) opportunities where business decision can be made to invest in the African Continental Free Trade Area (AfCFTA). The comprehensive market intelligence from Tanzania is available publicly on the global SDGs Investor Platform at sdginvestorplatform.undp.org.
In line with the SDG Investor Map methodology developed by SDG Impact, a UNDP Sustainable Finance Hub flagship initiative, it underwent an extensive research and consultative process with key public and private stakeholders in Tanzania. As part of that process, each IOA went through a validation workshop in Dar es Salaam and Zanzibar with the aim of identifying investment themes and business models that have strong potential to advance the SDGs and comprehensive data sets.
The goal of the Forum, organized by UNDP Tanzania, Istanbul International Center for Private Sector in Development (IICPSD), and Tanzania Investment Centre (TIC), was to facilitate productive discussion and ideation between local and global allocators of capital under the framework of the SDGs, broker resilient investment relationships, and share new ideas, connections, and tools amongst investors and businesspeople. Through this, the forum aimed to enable uptake of UNDP-produced market intelligence, establish new investment relationships, and drive greater and more diverse volumes of capital to accelerate SDGs progress in Tanzania.
The Forum included a special pitching session from the Growth Stage Impact Ventures (GSIV) programme
The Foreign Minister stated that, "The current UN Development Assistance Plan (UNDAP II) is anchored in the Sustainable Development Goals (SDGs), with a focus on the most vulnerable communities. Working in close collaboration, the UN and the Government of Tanzania, are jointly developing and implementing programs, policies, and innovative ways to reach marginalized populations. The common objective is to ensure an equal distribution of development gains across population groups and across regions, and to contribute towards achievement of key SDGs that will make a positive impact on the people of Tanzania".
Moreover, the UNDP Resident Representative, Christine Musisi highlighted on how UNDP seeks to assist and collaborate with the government in accelerating investment into Tanzania, in achieving both national and Global Goals through the Tanzania SDG Investor Map. “By providing and showcasing market opportunities for investors seeking to make not only a profit but also an impact, we are responding to the identified needs of impact investors and delivering market intelligence aligned with the SDGs. By connecting development needs to investment opportunities, we are seeking to direct financing flows toward Tanzania and contribute to reaching the SDGs” she said.
The Director of the Ministry of Investment, Industry and Trade, Ally Gugu emphasized on, stating, “The launching of SDG Investor Map can standardize private sector engagement in support of sustainable investment in Tanzania. However, success of this approach will depend on the solid partnerships with the Government, private sector and financial sector and capital markets together with the UN. Given the current investment climate all investors have priority to invest in Tanzania. I know for sure you cannot invest in all sector at once but using the SDG Investor Map which is the market Intelligence you can invest in areas where you can make the greatest contribution to help Tanzania’s economy move to another level”.
TIC has taken the initiative to collaborate with UNDP since there is a growing interest among investors to attribute investment into activities that deliver strong financial returns while generating SDG impact. Tanzania has improved tremendously in creating a conducive business environment whereby the government has continued to carry out major reforms to further attract more investors to come to the country. The improvement of one-stop facilitation Centre currently hosting about 12 public institutions that offer services under one roof and the government's commitment to improve infrastructure such as roads, railway, ports, airports and electricity has enhanced our competitive advantage and now we are ready to receive investors who are interested to invest in various sectors of the economy.
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