RIYADH, 6 June 2006 — Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), accompanied by a delegation, arrived in Tanzania’s capital Dar es Salaam on Sunday. The prince’s visit was pursuant to an official invitation by new Tanzanian President Jakaya Mrisho Kikwete and marks the half way point of their current 15-country investment tour throughout the African continent.
Prince Alwaleed and his delegation met with President Kikwete at the State House where they discussed a number of social and economic issues, and referred to the bilateral relations between their respective countries. President Kikwete commended the prince on his philanthropic and investment efforts that have played a major role in helping economic development in Africa as a whole and in Tanzania specifically. The discussions focused on the potential activities of KHC’s 3 affiliate investment vehicles — HSBC-Kingdom, Kingdom-Zephyr (KZAM) and Kingdom Hotels Investments (KHI), which are presently assessing several proposed projects. Their aim is to increase and diversify employment opportunities in Tanzania whose economy depends heavily on the agricultural industry that currently employs 80 percent of the work force.
Following the meeting with the president, Prince Alwaleed was escorted to the Parliament building where he was welcomed by high-ranking government officials and people who were eagerly awaiting his arrival.
Mayor Adam Kimbisa presented Prince Alwaleed an honorary citizenship and a golden “Key to the City of Dar es Salaam” at the official investiture ceremony. “We give you this key to open the door of your new honorary residence whenever you wish, and with you it will evolve and progress,” the mayor said.
In appreciation, amid the cheering crowd, Prince Alwaleed said: “Our attachment to Tanzania and especially Dar es Saalam has long since been established, and what can be more reassuring than being an honorary resident of the city named the ‘House of Peace’.”
