What a U.S.$500 Million Agreement Means for Tanzanian Ports

A U.S.$500 million grant through a Memorandum of Understanding signed between the Tanzania Ports Authority (TPA) and a Dubai-based logistics firm DP World, will finance various projects aimed at improving efficiency of Tanzania's ports.

The firm specialises in cargo logistics, port terminal operations, maritime services and free trade zones. The agreement for the grant was signed at the Dubai Expo between TPA Director General Eric Hamissi and DP World Chief Executive Officer Sultan Ahmed Bin Sulayem and was witnessed by President Samia Suluhu Hassan.

The funds from the agreement will be spent on developing Tanzania's ports, targeting key areas of information and communication, technology (ICTs) systems, training for capacity building among TPA staff and improvements in port infrastructures. The funds are also expected to enable the country's ports to increase their competitiveness at the regional and global level and improve services.

This article originally appeared in All Africa

Photo: Tobin Jones/AMISOM/Flickr