Saudi Arabia acquires Tanzania’s Bagamoyo port

The Tanzanian authorities granted the Saudi African Investment and Development Co. (SADC) concession and acquisition rights for Bagamoyo Port in Tanzania, Saudi Press Agency reported, citing Chairman of Federation of Saudi Chambers of Commerce Hassan Al-Huwaizi.

The approval is part of SADC's "East Gateway Project," aimed at the East African region.

The initiative will bolster Saudi Arabia’s position as a key driver of global economic development, attract greater foreign investment (particularly in Africa), and strengthen its logistical capacity to deliver Saudi exports worldwide.

At the Saudi-Tanzanian Business Forum, supported by the Saudi Chambers, the Kingdom took a strategic step to strengthen economic ties with Zanzibar and explore new investment opportunities in the region, as part of its broader initiative to expand into African markets.

The Port of Bagamoyo holds significant strategic value for Saudi Arabia, serving as East Africa's primary logistical gateway. It will facilitate trade for Tanzania and neighboring countries, becoming the central hub for exporting African raw materials and natural resources globally, and for importing goods into Africa.