Tanzanian tycoon Rostam: Foreigners will not build your country

Dar es Salaam. While acknowledging ongoing government efforts to attract foreign investors, prominent businessman Rostam Aziz has called for the formulation of policies and laws that favour local entrepreneurs, insisting that only Tanzanians can truly build their country.

Speaking on Thursday, July 17, 2025, during the launch of Tanzania’s National Development Vision 2050, Aziz stressed that no nation in the world has been developed by outsiders and urged for reforms in the financial sector to ensure local businesses access adequate capital.

“Tanzania excels in planning, but struggles with implementation,” he said. “To change this, we must empower local entrepreneurs with the financial tools to take part in nation-building.”

He said that while the government should continue attracting foreign investment, there must be deliberate protection and support for local industries, including preferential access to government procurement.

“No country develops without industries. Let us enact policies that deliberately favour Tanzanians in business, procurement, and tenders, without fear,” he said.

Aziz lamented the banking system’s failure to support Tanzanian entrepreneurs, claiming that major infrastructure like SGR and the Nyerere Dam could have been built by local firms had the environment been supportive.

He cited the Sh30 trillion spent on infrastructure over the past 15 years, noting that the economy would have benefited significantly if the money had remained within the country.

As Tanzania prepares for a knowledge and innovation-driven economy, Aziz emphasised the need for peace, strong institutions, sound policy, and visionary leadership.

Investing in youth

Aziz proposed the establishment of a $100 million annual Talent Development Fund to identify and nurture 1,000 gifted youth in fields like engineering, artificial intelligence, and data science. These youth would study at top global universities and return to serve in public institutions, including the Planning Commission.

“This is not just about education; it is a strategic investment in the nation’s direction,” he said, urging simultaneous reforms in Tanzania’s own universities and education system.

He also called for capacity-building programmes for current leaders and proposed that embassies be tasked with identifying skilled Tanzanians abroad and facilitating their return.

United Nations Resident Coordinator Susan Namondo, who also spoke at the event, noted Tanzania’s progress in economic growth, food security, maternal health, and primary and secondary education enrolment. She pledged continued support in the implementation of the new development vision.