Aliko Dangote Showers Praises on Tanzania's Suluhu for Overturning Magufuli's Agressive Policies

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Tanzania president her Excellency president Samia Suluhu today on Monday 24, 2021 met with Africa's richest man and Nigerian billionaire Alhaji Aliko Dangote at statehouse, Dar es Salaam.

Speaking after the long discussion meeting, Alhaji Aliko urged other investors to invest in Tanzania praising Suluhu of changing and stabilising the investment environment in the country.

" The investment environment has ' drastically ' changed under the leadership of president Suluhu, atleast things have opened up and I will be Tanzania's investment ambassador wherever I go," he said.

On her part, the abled president Suluhu pledged to ensure that Dangote together with other foreign investors and their investments are safe (protected) as they continue to create wealth and employ her citizens.

Aliko's total investment in Tanzania amount to almost $770 USD ( 1 trillion Tanzanian Shillings). He has invested in cement manufacture and has disclosed plans to set up a fertilizer processing plant in Tanzania. Aliko once expressed interest in investing in Kenya but changed plans citing unfavorable tax policies.

President Suluhu instructed her trade and investment ministers to make sure that investment barriers affecting Dangote Cement are dealt with/ eliminated to attract more investors.

President Suluhu seems to have overturned some of the trade restrictions that had been put in place by her predecessor, late president John Pombe. From the burning of Kenya's chicks and auctioning of Kenyan cows in 2016, president Magufuli's combative approach to International trade and aggressive domestic trade policies saw Tanzania's Foreign Direct Investment (FDI) drop by 43% when he took over in 2015.

His radical policies saw Kenya's exports to Tanzania fall by a larger percentage immediately he took over. Though his moves were aimed at protecting his country's economy, Tanzania missed alot as many investors shied off. Under Suluhu, Kenyans can freely trade with Tanzanian.

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