Tanzania's Minister for Foreign Affairs and East African Cooperation January Makamba on Tuesday, May 28 revealed plans to construct residential, official and commercial buildings in Kenya, Zambia and the Democratic of Congo.
Makamba stated that the project would cost about Ksh12.2 billion (sh241.069 billion). This move is expected to boost revenues for the Foreign Affairs docket.
In Kenya, Tanzania will construct offices, and invest in real estate. This is expected to cost Ksh6.4 billion.
"These funds include Ksh7.5 billion (sh150 billion) for the construction of offices, the ambassador's residence and an economic investment in Kinshasa, Ksh6.4 billion (sh127 billion) for the construction of offices and an economic investment in Nairobi, and Ksh3.3 billion (sh66.1 billion) for the construction of offices, ambassador's residence and economic investments in Lusaka," Makamba stated.
However, Makamba did not reveal further details of the investment plans in Kenya adding that this was part of improving the relations between the two countries.
On the other hand, in Kinshasa, Tanzania will construct a 25-storey building. This will become one of the properties the East African country has in areas such as Kampala, Uganda, and Abuja, Nigeria
Makamba disclosed that Tanzania had already initiated the process of construction.
"The government has given permits to construct buildings in major cities globally to earn Tanzania foreign exchange," Makamba disclosed.
While speaking before Parliament, Makamba noted that the budget for this project will be sourced from several areas including; partnerships and loans.
The Minister added that this aligns with President Samia Suluhu's 4R philosophy (Reconciliation, Reforms, Resilience and Rebuilding).
Makamba explained that the construction of these buildings in different countries would increase Tanzania's revenue and reduce the overdependence on the Treasury.
"The goal of this plan is to reduce the Ministry's reliance on the Treasury in the construction of ambassador's offices and residence outside the country," he reiterated.
He revealed that currently Tanzania has and manages about 111 buildings outside the country. Some of these investments are in major cities resulting in increased revenue.
