Ivesting in Transport sector | Investing in Mwanza
Investing in Transport sector - Mwanza investment Opportunities
Lake transportation business:
Uganda, Kenya and Tanzania border Lake Victoria. It has an area of approximately 69,500 sq. km and lies about 1151 meters above sea level. Lake Victoria is the second largest freshwater Lake in the world. The lake is economically important to the surrounding region which has one of African highest population densities.
However, despite sound consideration to the development of transport corridors, the potential of Lake shipping has not been fully explored. There are bright prospects for marine transport business on Lake Victoria due to increased opportunities for trade and commerce business in the country, and within the newly created common market of Southern Africa COMESA which has increased cargo handling business, Mwanza town is a focal point of Lake transport routes as a distribution centre for traffic to Bukoba, Kemondo bay, Nyamirembe, Ukerewe island, Musoma, Kisumu and Port bell in both Kenya and Uganda respectively.
The marine passenger local traffic market is dominated by TRC’s vessels which accounts for 51% of motorized fleet of vessels. Passengers trips to various ports are mostly business people who ferry goods to and from Mwanza. Currently there are no vessels serving the International market of Kisumu and Portbell.
Air transport investment opportunity:
The availability of daily flight from Mwanza to Dar by Air Tanzania (ATC) and sometimes by Air Precision, has reduced the scramble for regular air transport for passengers and goods at Mwanza airport.
The demand for air service however is still very strong due to the fact that Mwanza is a major business centre in the whole Lakezone and neighbouring countries of Uganda, Rwanda and DRC.
The over increasing mineral prospecting companies present pressure for air transport as such companies need to do business faster.
The present plans to rehabilitate and expand Mwanza Airport run aways will create an exceptional opportunity for the private sector to invest in “ Air transport”.
Investment Potentials in Mwanza
Mwanza City center still have a potential areas of great investment opportunities to invest or expand business / or development programs. The following are areas of great investment: –
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