Dar es Salaam-The home of peace is Tanzanias richest city and the third fastest growing in Africa. Agriculture accounts for 25% of the GDP and the Industrial sector takes a substantial 22.6% making it one of the fastest growing in Africa. Due in part to the growth of the expatriate community and the increasing importance of tourism, the number of international investments has risen considerably in recent years. The construction sector a major player in this exponential growth last year accounted for 11.9% of all the wealth generated in the country and employs about 9% of the workforce. It is, in this new hub of development, that the Crown Paints Group has recently pitched tent. Dar es Salaam has had in the past years a major construction boom backed by investments in the recently discovered natural gas reserves and the expansion in public investments, the former making power shortages which were a major obstacle to the industrial market a thing of the past. We are excited to welcome Crown Paints in Tanzania. Crown Paints is a highly rated company in East Africa and the announcement made here today will create job opportunities for our youthful population and offer training for painters across the country, said Dr.Abdalla O. Kigoda Tanzanias Industry and Trade minister. Crown Paints will be investing a total of USD 3.6M over the next 18 months in a bid to grow its market shares across borders. Currently there are satellite plants in Arusha and Dar es Salaam with the first ultra-modern showroom in the countrys capital. We also want to help build a thriving paint industry that will transform the lives of Tanzanian citizens, added Rakesh Rao Crown Paints Group CEO. Coupled with the increase by 50% in our export market last year, Hussein Ramji the group vice-chairman lauded the robust marketing and distribution in place this year as determiners which will propel and sustain Crown Paints expansion in the region. At Crown Paints, we believe, this recent venture in Tanzania will continue to transform livelihoods in Tanzania and beyond. If you like it…Crown it!
Posted on: Tue, 04 Nov 2014 13:54:08 +0000
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