Sabodo to invest $5 billion in Tanzania developments
Prominent businessman and philanthropist Mustafa Sabodo has pledged to inject a staggering 5 billion US dollars (10.9 trillion/-) in massive investments for the designated capital city of Dodoma.
Sabodo said he had halted financial support to opposition Chadema and NCCR-Mageuzi, “thanks to impressive performance by President John Magufuli during his eight months in office”.
“By announcing that he will have all government offices shifted to Dodoma during his tenure in power, President John Magufuli has shown commitment to fulfill the idea initiated by Julius Nyerere”.
The businessman explained that the funds in question will be used to set up industries to produce wines and cassava starch, setting up of schools and other facilities, stressing that the funds are available in his foreign sources.
The idea to shift the capital city from Dar es Salaam to Dodoma was initiated by Nyerere, who established the Capital Development Authority (CDA) in 1973 to spearhead the process. President Magufuli recently expressed his commitment to relocate to Dodoma before the end of his five-year term.
“The commercial capital of Dar es Salaam is currently over populated; it is my dream to see Dodoma developed and spread to as far as Manyoni, Mpwapwa and Kondoa. However concrete actions must be made to have this dream realised,” he observed.
Sabodo is an economist, consultant in international debt-finance, philanthropist and a businessman. He has business interests in India, France, Kenya, Sudan and Zimbabwe.