Written by Zein Diab:

Tanzania celebrates ”Saba Saba Day” every year on July 7th, one of the country's most prominent national holidays. It symbolizes the march towards unity and independence and commemorates the founding of the Tanganyika African National Union (TANU), which played a pivotal role in building the modern Tanzanian state.

“Saba Saba,” which means “seven seven” in Swahili, is a national occasion commemorating an important historical milestone dating back to July 7, 1954, when the Tanganyika African National Union was founded. This union led the country's struggle for independence and later contributed to the unification of Tanganyika and Zanzibar to establish the United Republic of Tanzania in 1964.

Prominent economic and commercial event

The celebrations on this day are not limited to the historical aspect, but have also become a prominent economic and commercial occasion, as it coincides with the launch of the Dar es Salaam International Trade Fair, also known as “Saba Saba Fair,” which is the largest trade fair in Tanzania and one of the most important economic events in East and Central Africa.

The exhibition is held annually at the Julius Nyerere International Trade Fairgrounds in Dar es Salaam. Its activities first began in 1976, before transforming into an international platform that brings together thousands of companies and investors from various countries around the world.

3,500 exhibitors

More than 3,500 exhibitors participate in the fair, which attracts approximately 700,000 visitors annually, making it an important opportunity to promote trade, showcase domestic products, attract investment, and promote Tanzanian culture and heritage.

Saba Saba Day is an occasion that combines the celebration of national history with economic development, as government institutions and the private sector take care to organize a variety of events that reflect Tanzania’s journey since independence and highlight the country’s economic and cultural progress.

In another context, the Egyptian Exchange participated in a panel discussion on “FinTech and Market Accessibility” as part of the “Building African Exchanges” conference, hosted by the Dar es Salaam Stock Exchange in the United Republic of Tanzania from July 1 to 2. The event saw the participation of a large number of heads and representatives of African and international stock exchanges, financial markets, and financial institutions in the meetings of the African Stock Exchanges Federation's Board of Directors.

Omar Radwan, Chairman of the Egyptian Stock Exchange, emphasized the need to strengthen the position of the Egyptian capital market within the regional and international financial market system, stressing the importance of the role Egypt plays on the African continent and noting that the coming period will see international initiatives in cooperation with various capital market stakeholders, thereby supporting efforts to develop the market and enhancing its competitiveness and investment appeal.