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Efforts to enhance Tanzania’s infrastructure have gained momentum with the introduction of the Samia Infrastructure Bond, which aims to raise TZS 150 billion (approximately $60 million) for road construction projects.
These funds will focus on improving rural and urban connectivity across the country, supporting economic growth and development.
The bond, implemented under the Rural and Urban Roads Agency (TARURA), is designed to expand Tanzania’s transportation network, ensuring communities have access to better roads. Speaking during the bond’s sales launch, Dodoma Regional Commissioner Rosemary Senyamule urged residents to seize the opportunity and invest in building reliable infrastructure.
“This bond presents a chance for citizens to contribute to road projects that will directly impact their lives. Quality roads mean faster development, improved business opportunities, and better livelihoods for all,” Senyamule emphasized.
During the event, Senyamule announced that an initial TZS 1.5 billion had already been raised, marking a significant step toward meeting the bond’s financial goals. She reiterated the government’s commitment to ensuring all projects funded by the bond are completed on time and meet the required standards.
The Samia Infrastructure Bond aligns with government directives issued by Vice President Dr. Philip Mpango, who recently inaugurated the initiative. It reflects a strategic effort to address the funding gaps in road construction and maintenance, particularly in underserved rural regions.
Vivian Komu, Chairperson of the Regional Contractors Board in Dodoma, expressed optimism about the bond’s impact. “This initiative will provide much-needed funds for contractors to execute projects efficiently, especially during times when government resources are constrained,” Komu explained.
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The bond has been approved by Tanzania’s Capital Markets and Securities Authority (CMSA), ensuring transparency and reliability for investors. Funds raised will primarily support road projects managed by TARURA, which plays a critical role in maintaining and expanding the country’s transportation infrastructure.
Improved road connectivity is expected to stimulate economic activity by facilitating the movement of goods and services, linking rural farmers to urban markets, and enhancing access to essential services such as education and healthcare.
As Tanzania continues its development journey, the Samia Infrastructure Bond serves as a testament to the country’s innovative approaches to financing infrastructure projects. The initiative not only seeks to build better roads but also fosters economic inclusivity by bridging rural-urban divides. With substantial investments and citizen participation, Tanzania’s transportation sector is poised for significant transformation.
The Samia Infrastructure Bond remains open to public investors, with a target of raising TZS 150 billion to ensure critical infrastructure projects are realized for the benefit of all Tanzanians.
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