Tanzanian businessman Rostam Aziz has criticized the country’s banking system for failing to support local entrepreneurs.
Speaking about major national projects like the Standard Gauge Railway (SGR) and the Nyerere Dam, Aziz argued that these vital infrastructures could have been developed by Tanzanian firms if the right environment had been created for local businesses to thrive.
He emphasized that relying on foreign companies for such massive projects ultimately weakens Tanzania’s economy and limits growth opportunities for its own people.
Aziz’s remarks highlight the importance of nurturing local businesses and encouraging homegrown solutions to address the nation’s development needs.
According to him, for Tanzania to fully realize its potential, it is crucial to prioritize and empower local entrepreneurs, rather than depending on foreign investments that may not always have the nation’s best interests at heart.
