Media Wire Express Correspondent
Tanzania’s Minister of Finance, Dr. Mwigulu Nchemba, has provided an encouraging update on the new Mwanza market, which is nearing the end of its construction phase.
Currently, the project stands at 96% completion, with final touches being applied to this state-of-the-art facility designed to serve as a major commercial hub for the city.
Dr. Nchemba, who recently conducted an inspection of the construction site, noted that the project faced temporary delays due to funding constraints. However, he assured that financial issues have now been resolved, allowing work to resume at full capacity. The construction of the market, which is expected to house 1,400 vendors, represents a significant infrastructure investment aimed at bolstering the city’s economic activities.
The new market is projected to significantly impact Mwanza’s economy, with revenue estimates reaching TZS 3.7 billion. This revenue is expected to be generated through increased trade and business activities once the market is operational. The completion of the market is anticipated to attract both local and international traders, enhancing Mwanza’s status as a key commercial center.
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Currently, the remaining work involves painting and numbering the market’s various rooms. These final steps are crucial for the operational readiness of the facility, ensuring that it meets the needs of both large-scale and small-scale traders.
The modern Mwanza market is set to play a pivotal role in the city’s economic development, providing a structured and efficient space for trading activities. This project underscores the government’s commitment to supporting economic growth through significant infrastructure projects, aimed at enhancing trade and boosting local economies.
