Mike Mande writes about the almost complete absence of indigenous Tanzanian multinationals in the countries Mining Industry.
With Tanzania having very few companies with the capacity to undertake large-scale works projects such as drilling, mining activity has not created major opportunities for Tanzanian business.
Tanzanian banks have not participated in the financing of these activities partly because they are risk averse in the sector but mainly because of lack of capacity to fund such capital intensive projects.
The obvious benefits of a much more value added industry apart, the question needs to be asked, How can the country begin the process of building its own Southern multinationals? The IPO route? The Organic method? or the Creation Path? Can Tanzanian and or other African expatriates be coaxed into setting these companies up? Can external investment vehicles be put together?
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