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Serengeti
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Discussion Starter · #1 ·
hello tanzan, do u know anything about dar es salaam Waterfront Project? i remember candian firm were interested to build, do u have any updates on this?
First of all Welcome Must123 to SSC Africa.

I didn't bother posting this thread because this project never moved off the ground...but just a month ago the Govt said they were looking for another investor.









If this goes through...wow! It would be something!
 

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Still Comin' Out Strong
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16,271 Posts
This is beyond words. Dar es Salaam's Tatu City. I'm just loving this country right now. :hug:
If it is built, imagine how much it would change Dar's skyline...
 

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Mutu ya Chuma.
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43,873 Posts
So I just checked, this project was proposed in 2004! but has got nowhere so lets not get tooo excited. I can remember a similar plan for Gabon which is 15 years old now and never came to be reaility.

http://www.daressalaamwaterfront.com/vision.php


These SS African water fronts projects never come to light.

Not sure if Luanda and Maputo ones have even started.


It's always a probability than possibility when it comes to these kinds of projects.
 

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17,062 Posts
http://www.unitedworld-usa.com/pdf/tanzania.pdf

THE TANZANIA Investment
Center (TIC) is at the epicenter
of government’s policies to transform
the country’s private sector
and fast track the Tanzanian
economy. Investment levels in
the country have risen from $20
million before TIC was established
in 1997 to over $300 million
today, and the agency is now
aiming for $1billion
annually in new FDI
by 2008. TIC Executive
Director, Mr.
Samuel Sitta, says,
“Tanzania can easily
absorb this amount of
investment, and really
the biggest projects are still
ahead of us – quality projects
that will have ramifications for
a variety of sectors. East Asians
are beginning to flock here for
the textile industry. The Italians
are coming for the leather industry,
and are discussing the
construction of new airports. So
things are beginning to take off.”
Other upcoming projects include
a $600 million investment from
a Canadian firm to mine nickel
in the country, and the Salama
Waterfront project, which will
reclaim 640 acres by the sea near
Dar es Salaam for the construction
of a cyber city modeled on
the Cape Town Waterfront.
Mr.
Sitta says that TIC is also looking
to develop its marine transport
resources to facilitate interior
connections with neighboring
countries, and is interested
in attracting
higher levels of investment
in commercial
agriculture to
boost grain exports to
the rest of Sub-Saharan
Africa.
Mr. Sitta says that President
Mkapa and his policies have been
key in Tanzania’s success in attracting
new investment. He
comments, “The reforms that the
government has carried out in
the last decade has brought immense
credibility to Tanzania.
We pay tribute to President Mkapa
and his resolute command of
the economy, and the fact that he
has managed to turn so many things around.
 

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http://www.ippmedia.com/frontend/index.php?l=20884

Top officials of the Tanzania Investment Centre (TIC) are finalizing efforts to re-float a tender to reclaim large portion of ocean front territory in Dar es Salaam, especially along Selander Bridge to Ocean Road area, though others expect it to cover the portion along Oyster Bay.

The project is at present estimated to be worth $180m dollars (Sh270bn), and it involves the construction of commercial buildings, hotels, sports, recreational and entertainment facilities, to which is added a breadth of infrastructural facilities. The zone has for years been expected to cover 217 hectares of reclaimed land, by private investment funds.

TIC executive director Emmanuel ole Naiko was on record lately saying that preparations are on course to float a tender in search of a credible investor to undertake the massive land reclamation project, insisting that the tender would be floated ‘anytime now.’

The reason for this re-floating is that Coastal Development Co. Ltd (CDL) ‘had failed to fulfill the contract for the past nine years.’ CDL was ‘operated’ by investors from Holland, South Africa and Tanzania. He did not apparently make explicit the reasons for failure of CDL to make use of the investment opportunity, and with such powerful backing.

What however the TIC director was sure about was that this time round there will be a difference, that TIC and other advisory authorities intend to be more careful, ensuring that ‘the process will be in line with requirements by the Public Procurement Regulatory Act.’

Once placed, the bids will be exposed to a transactional advisor ‘to ensure that we do not repeat the mistake of trusting people, who would let us down once again,’ which evidently is what happened the other time. Why did the previous investor let down the TIC or other authorities, and indeed is investment a matter of not letting down a government?

Elaborating on the envisaged tendering process, the director said the tender ‘would contain what the country expects from the investments and how the investors should go about it,’ in which case ole Naiko and colleagues want participants in a project of their own.

In that case it would be expected that TIC would be putting up half of the capital, and then it would seek out investors – perhaps by tender if it is applicable – who already approves of that project as it stands. When one places half of the capital into a project, chances that it would fail are limited when he is also in control of central government actions.

For starters, this kind of investment is what has been going on in China for many years, that a state firm puts up half of the capital or slightly above, and then seeks investors to put up the rest, in which case the one who states conditions partakes of the risks, heavily.

The TIC environment is a different case, where the government – and that was the case with the celebrated Rites fiasco, not to speak of Air Tanzania and South African Airways – dictates conditions of investment while not placing a dollar. It speaks not as an investor in its own right but as Government; its total investment capital is the goodwill.

So there isn’t much that investors will see in a further note that ‘the new investor would be free to come up with recommendations on plans to undertake the project,’ which educated people at TIC do not realize that it is a non-starter as a project statement.

How can an investor who takes 100 percent risk for a project ‘come up with recommendations’ instead of taking up the 217 hectares on offer, agree on the price or the rent, and everything else depends on his own design, his shareholders and lending banks? What strategic design can TIC place on that investment when it isn’t placing a dime in the construction?

No one would, for instance, see the point in having to point out that ‘the town to be developed would be linked with the existing one, with expectations that it conforms to Tanzania’s town planning rules, parking regulation and other laws and Acts,’ as if an investor could do otherwise.

The trouble with the ‘town planning rules’ is that they are heavy on private investors and absolutely lenient on public sector construction, for instance an eight storey apartment complex was destroyed by regulators’ orders as unsuitably close to the sea at Msasani Peninsular. And yet NSSF puts up a 28 storey B.W. Mkapa Towers less than 100 meters from the sea in another part of the city, perhaps with a different rock structure…!

Surprisingly enough a photo taken at a different occasion when ole Naiko was unveiling a WEF Global Competitiveness Report, or tied up with the World Bank was discovered to be best to accompany the tender story in a business news page.

What the editors did not evidently notice was that the sort of conditionality and modality of putting up the Salama Waterfront project as it is called (or perhaps it is a component of the wider project) was precisely the sort of challenges and pains in the neck that WEF and others are trying to clear. But since they never call a spade a spade, Third World regulators champion a ‘competitiveness’ report, with dry, clear eyes, implying that their policies and actions are in tune with it.

There are just two ways of going about a major land reclamation project of that sort, as in other projects or for that matter privatization projects as there are quite a few out there – though bureaucrats wish for Treasury to flood parastatals with capital instead of privatizing them.

What the government can do is to put up an investment company to bring up 50 percent of the capital required and the rights to the land being wholly surrendered to that operating company, or allow an investment firm or consortia to take up the land in 99 year lease and put up the required capital and it’s their baby the design, etc. It’s that simple.

The failure to get the project off the ground over the past ten years or perhaps longer if the project was on the drawing board since the early 1990s as it appears isn’t due to investor failure but that of regulations of which TIC is both an overseer and public relations champion.

What TIC or other executive agencies and regulatory authorities stand for is precisely what hinders investments, namely that they take up a landlord role as part of liberalization, tied to sacred World Bank tenets of ‘public-private’ partnership.

Were it that the government puts in capital and recognizes investor rights, ensuring that government isn’t removed wouldn’t be bad; it could even accelerate capital flows as in China. But when the government invests nothing but goodwill, and dictates the project and even the board, it can’t work.
 

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Okay, this project is definitely old news. Last time I was researching about this project, I thought to myself that there was no way in the world that Tanzania could afford something like that. But now, I feel a bit differently. Who knows? Maybe there is actually a possibility that DAR might become the next big waterfront city in Africa. Just maybe....
 

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Serengeti
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4,294 Posts
Discussion Starter · #11 ·
The Govt wants to revive it...but practically I don't pay attention that much. I just don't think they got the business know-how to pull off such a project considering everyone asking for 10%...obviously any investor will opt out. And Maybe this what happened.:eek:hno:
 

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Serengeti
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4,294 Posts
Discussion Starter · #12 ·
Remember the City Council tender for Promenard all the way from the water front to Seacliff hotel...its going to be 2 years now and nothing is happening. Why can't they do something right...at least this could have changed Dar to be more tourist friendly city.
 

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skxawng by tsu'tey
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6,544 Posts
First of all Welcome Must123 to SSC Africa.

I didn't bother posting this thread because this project never moved off the ground...but just a month ago the Govt said they were looking for another investor.









If this goes through...wow! It would be something!
:eek:mg: this is so so wounderful...Angola has a rival :yes: is already u/C?
 
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