Nabil Hajlaoui, the French ambassador, told journalists in Dar es Salaam on Monday that the delegation of small and medium sized enterprises (SMEs) is exploring business and investment opportunities in a number of potential sectors.
The firms opted to seek commercial opportunities here as the country’s economy is growing with increased value of investment, he said, noting that the country’s foreign direct investment (FDI) rate has now reached 18bn/- per year.
The visit marks a new step in Franco-Tanzania trade relations, he said, affirming that business ties are dynamic, illustrating a shared desire to build new partnerships.
It similarly illustrates the positive perception held by French companies on the Tanzanian market, referring to recorded successes in business between the two countries in the wake of the visit by President Samia Suluhu Hassan in France.
He said SMEs are the core of the French business network and are determined to enter the Tanzanian market to introduce a wide range of products suitable for local demand.
“French SMEs are eager to engage with their Tanzanian counterparts to learn from them and improve their products in order to make them more suitable for the Tanzanian market,” he affirmed.
Back in March, the Franco-Tanzanian Chamber of Commerce partnered with the Tanzanian incubator for start-up Sahara Ventures, he stated, hinting that France is among members of the European Union (EU) with a substantial presence in Tanzania.
Christopher Darmois, the president of the France-Tanzania chamber of commerce, said that ten years back, there were only eight French companies in Tanzania but the number has now increased tremendously.
The chamber was established to facilitate business operations between the two countries, with its membership rising to some 100 companies equally divided between the two sides, he elaborated.
Mourad Chouiga, head of the delegation and regional manager for eastern, southern Africa and Indian Ocean at Bpifrance, said there are investment potentials in Tanzania, where French companies can partner with local firms.
The first mission of French SMEs to Tanzania took place last year.
Bpifrance is a French public investment bank devoted to financing companies at each stage of their growth through loans, guarantees and equity.
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