Tanzanian President in an undated recent video circulating online has claimed that Tanzania has witnessed the largest number of foreign investors in the country due to the ongoing anti-government protests in Nairobi.
Suluhu stated in the video that investors are fleeing Kenya and rushing to Tanzania because of the stability enjoyed in the country.
Mama Suluhu revealed that her country in the recent months since May 2023, has witnessed a sharp increase in the number of investors.
“Mkurugenzi was Kituo Cha Wekezani Tanzania anahojiwa kwenye TV akasema mwezi May na June tumepokea wawekezaji kiasi hatujawai pokea na thamani ya uwekezani iliyokuja ni hii. Lakini ukitazama sababu ni kwanza kwa jirani kunawaka moto na mwekezaji hakai kwenye kuwakomoto. Wanakimbia wanakuja zao kwenye amani na utulivu (The Director of Tanzania Investment Institute recently stated on TV that since May the country has received the largest number of foreign investors because of the protests in Kenya. Investor fear violence,” Suluhu said.
Suluhu noted that Tanzanians should take advantage of the peaceful situation in their country and show the world that the country is a safe and stable place to invest.
She further explained that political instability will definitely lead to a negative impact on the economy, and many businesses will be forced to close due to the unpredictable nature of the country.
“When asked why the country was having such unusual investment booms, he explained that the country had received more investments in May and June 2023 because of the ongoing chaos among our neighbors.
“We have never received so many investors like the number that we got in the two months. These investments have led to massive growth opportunities for our people,” Suluhu noted.
Suluhu lauded Tanzanian Investment Centre’s strategic plan which is intentionally geared towards creating a powerful gateway into the East African Community.
“This is a lesson for us to learn that investments can only be attracted by nations that are peaceful like our country. We must know the importance of peace.
“We must be prepared to welcome investors who are looking for a safe and stable place to do business. We have a lot to offer, including a young and growing population, a stable political environment, and a strategic location,” Suluhu stated.
The protests in Kenya began in May 2023 after the opposition coalition accused the government of rigging the presidential election, and later metamorphosed their agenda to the high cost of living.
The protests have been met with a heavy-handed response from the security forces, and there have been reports of widespread human rights abuses.
The Kenyan economy is the largest in East Africa and a middle-income country with a GDP of Ksh18 trillion $115 billion (2022).