Jan 29 – 31 – TANESCO, EWURA, Millennium Challenge Corporation, OPIC and
IFC to address the future of Tanzania’s power sector
EnergyNet’s Powering Africa: Tanzania executive meeting, will be held from
29th-31st January in Dar Es Salaam
DAR ES SALAAM, Tanzania, January 9, 2014/ — “With such a focused group of
industry shapers participating at the Powering Africa: Tanzania meeting
from the 29-31 January (http://www.poweringafrica-tanzania.com), we can’t
help but be buoyed by the possible outcomes of the debate.” Simon Gosling,
EnergyNet.
As the World Bank agrees to support Tanzania to strengthen the country’s
business environment, international investors flock to the country in
search of credible partners, a deeper understanding of the requirement of
entering the market and an eagerness to do business.
According to the International Energy Agency, sub-Saharan Africa will
require more than $300 billion in investment to achieve universal
electricity access by 2030. The US government’s “Power Africa” initiative,
which includes Tanzania as one of six priority countries for investment,
will commit more than $7 billion over the next five years in financial
support to African countries in their goals to increase power generation.
The opportunities are therefore massive for Tanzania to transform its
economy, create thousands of jobs and empower the youth of the nation to
take the East African region profitably forward through to 2030.
Whilst both Kenya and Mozambique have witnessed increased investment of
late, it is in Tanzania that the volume of investment is changing more
rapidly compared with previous years. Managing this transformation
appropriately will be the lasting legacy of the government.
Investment from banks and investors such as the World Bank, AfDB, the
Millennium Challenge Corporation, OPIC, CADFund, CDB and USAID will provide
the backbone of investment in Tanzania whilst the industrial sector finds
its feet. Most recently the World Bank invested a further US$60mln to boost
Private Sector Competitiveness and to fuel sustainable growth and support
job creation; a key off-shoot of increased access to energy and power
sector development, for which the Bank is also playing a central role.
EnergyNet’s Powering Africa: Tanzania executive meeting, to be held from
29th-31st January in Dar Es Salaam, will explore the importance of
international partnerships in more detail, bringing together leading
international players such as Symbion Power, Schneider Electric, Aldwych
International as well as local stakeholders including the Ministry for
Mines and Energy, TANESCO and EWURA, to create a credible platform to
discuss the opportunities for investors in the country’s power sector.
EnergyNet is delighted to have these hugely important organisations
represented, further highlighting their commitment to Tanzania.