Tanzanian authorities have approved the concession and acquisition rights for Bagamoyo Port to the Saudi African Investment and Development Co. (SADC), according to the Saudi Press Agency.
This move is part of SADC’s “East Gateway Project,” which aims to enhance trade and investment across the East African region.
The initiative strengthens Saudi Arabia’s role in global economic development, attracting foreign investment—particularly in Africa—while boosting its logistical capacity for exporting Saudi goods worldwide.
At the Saudi-Tanzanian Business Forum, supported by the Saudi Chambers, Saudi Arabia reinforced its commitment to expanding economic ties with Zanzibar and exploring new investment opportunities in Africa.
Bagamoyo Port holds major strategic importance, serving as East Africa’s primary trade hub. It is expected to facilitate imports and exports for Tanzania and neighboring countries, becoming a key center for distributing African raw materials and natural resources worldwide.
