Building East Africa’s Future: Tanzania and Accelerating Infrastructure Growth
At the August 2014 U.S.-Africa Leaders Summit, the White House brought together government officials from 50 African countries. The historic gathering in Washington focused on trade and investment in Africa, drawing scores of investors and American business executives. During the summit, Milken Institute staff members had the opportunity to attend these two events: the Institute’s Corporate and Investor Roundtable, and Doing Business in Tanzania, organized by the Corporate Council on Africa.
The roundtable gathered leaders in the business and governance community, while Doing Business in Tanzania addressed that country’s focus on investing in infrastructure. In this white paper, we explore the importance of infrastructure in the growth of East African countries, the role of pension funds in infrastructure development, the emergence of a new East African bloc, and the emerging role of Tanzania in East Africa.
We found compelling arguments for the tremendous potential of the East African Community (EAC) if Tanzania were to become more active member. Looking at the success of pension funds stimulating infrastructure growth in Chile as well as examining current prospects in the EAC countries, it has become apparent that a well-connected EAC could lead to exceptional economic opportunity.