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    Tanzania Urged to Commercially Leverage Overseas Assets to Enhance Revenue and Attract Foreign Investment

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    Home » Tanzania Urged to Commercially Leverage Overseas Assets to Enhance Revenue and Attract Foreign Investment

    Tanzania Urged to Commercially Leverage Overseas Assets to Enhance Revenue and Attract Foreign Investment

    TundeBy TundeNovember 8, 2026 African News No Comments2 Mins Read
    Tanzania Urged to Commercially Leverage Overseas Assets to Enhance Revenue and Attract Foreign Investment
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    Tanzania has been urged to turn government-owned land and properties abroad into revenue-generating investments to enhance national income, attract foreign investment, and create economic opportunities.

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    Kaspar Mmuya, the Deputy Minister for Lands, Housing and Human Settlements Development, emphasised that diplomatic relations should produce real economic benefits, not just friendship. He spoke during a visit on 6 November 2026 to a 22-storey commercial building being constructed by the Tanzanian Embassy in Kenya, accompanied by James Millya, the Deputy Minister for Foreign Affairs and East African Cooperation.

    Mr Mmuya highlighted that properties managed by Tanzanian embassies should be commercially developed rather than left unused. He noted that these assets could provide significant revenue through investment and business activities.

    “The Ministry of Foreign Affairs and East African Cooperation should strengthen partnerships with investors and financial institutions to attract funding for similar projects at other Tanzanian missions,” he stated.

    He praised existing initiatives in some embassies, arguing that effectively using overseas assets could boost foreign exchange earnings and strengthen trade ties with host countries.

    Mr Mmuya added that investing in these properties would increase Tanzania’s presence in global markets and improve its ability to manage business ventures internationally.

    He commended the Ministry for supporting President Samia Suluhu Hassan’s vision of economic diplomacy, which aims to convert international relations into tangible development. He also recognised Tanzania’s Ambassador to Kenya, Dr Bernard Kibese, for enhancing bilateral relations between the two nations.

    Mr Mmuya stressed that the effectiveness of diplomacy should be assessed not only by friendly ties but also by its capacity to generate investments, expand trade, and raise national revenue.



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