Global Business

Ireland Injects €2.4 Million to Boost Tanzania’s Trade Infrastructure and Economic Growth

Memorandum of Understanding (MoU) between Ireland’s Ambassador to Tanzania, Ms. Nicola Brennan, and TMA’s Country Director for Tanzania, Mr. Elibariki Shammy

In a strategic move to enhance Tanzania’s trade infrastructure and economic competitiveness, the Government of Ireland, through its Embassy in Tanzania, has pledged €2.4 million (approximately TZS 7.26 billion) to support TradeMark Africa (TMA) in its initiatives aimed at driving economic growth in Tanzania over the next two years.

The commitment was formalized through the signing of a Memorandum of Understanding (MoU) between Ireland’s Ambassador to Tanzania, Ms. Nicola Brennan, and TMA’s Country Director for Tanzania, Mr. Elibariki Shammy. This three-year agreement marks a significant milestone in the partnership between Ireland and TMA, focusing on key areas such as improving trade infrastructure, reducing barriers to trade, and enhancing business competitiveness across Tanzania.

Ambassador Brennan emphasized the importance of this partnership in her remarks at the signing ceremony, noting, “Ireland is proud to partner with TradeMark Africa in this crucial initiative. By improving trade infrastructure and reducing barriers to trade, we can make a significant contribution to Tanzania’s economic growth and the prosperity of its people. This funding reflects our shared commitment to fostering sustainable development and economic opportunities in Africa, while also strengthening the economic ties between our two nations.”

The funding will be instrumental in advancing several strategic goals under TMA’s Tanzania Country Programme, which aligns with broader objectives to tackle challenges in the trade environment. Key focus areas include enhancing digital trade systems, improving market access, and fostering inclusivity—particularly by supporting women traders transitioning from informal to formal trade routes. Additionally, the programme will prioritize green trade practices, integrating climate action into the development of more sustainable trade and transport corridors.

TMA’s Country Director, Mr. Shammy, highlighted the significance of this collaboration, stating, “This funding from the Embassy of Ireland is essential in enabling us to effectively execute our strategy. It allows us to drive significant improvements in trade facilitation, which are crucial for Tanzania’s economic growth. Our focus is on ensuring that our programmes benefit all traders, especially women, who play a vital role in the economy.”

The TMA Tanzania Country Programme Strategy 2023-2030 is designed to deliver two primary outcomes: increased market access through improved transport infrastructure and reduced trade barriers, and enhanced business competitiveness through capacity building and fostering public-private dialogue. The programme also emphasizes the importance of supporting women traders, who are crucial to Tanzania’s economic fabric.

Mr. Shammy further noted that Ireland’s support comes at a critical juncture as TMA intensifies efforts to unlock Tanzania’s full trade potential. “By investing in trade infrastructure and improving the business environment, we are laying the foundation for sustainable economic growth. We are particularly focused on empowering women traders, ensuring they have access to the resources and opportunities they need to thrive,” he said.

This new funding builds on the success of previous collaborations, enabling TMA to continue reducing trade costs, improving border efficiency, and promoting economic integration within the region. The partnership between Ireland and TMA is expected to leave a lasting impact on Tanzania’s trade landscape, driving economic growth and creating new opportunities for all Tanzanians.