05 February 2014, Dar es Salaam – Major global players in the energy sector were in Dar es Salaam last week for a two-day Powering Africa summit to discuss opportunities for private investments in the country’s rapid growing energy infrastructure.
About 200 major investors and key local and international stakeholders in the energy sector from public and private sectors were at the summit under the auspices of Power Africa initiative to examine the future transformation of the country’s energy landscape.
The Minister for Energy and Minerals, Prof. Sospeter Muhongo, provided insights into the huge investment opportunities in the energy sector buoyed by huge findings of natural gas in the southern regions of Lindi and Mtwara and other largely untapped diverse energy resources including biomass, hydro, coal, geothermal, solar and wind and uranium.
Tanzania ambitious strategy to transform its energy landscape is projected to move the country from a power starving nation to a biggest exporter of liquefied natural gas to East African region by end of the year and beyond in the future.
With abundant mineral, agricultural and energy resources, improved road infrastructure, and on-going efforts to develop ports and rail infrastructure, Tanzania is becoming a hub for investments in the East African region.
The potential for investment and trade are buoyed with the country’s growing population and an expanding middle class representing rising consumption and by extension market to drive up development and growth.
However, despite plentiful natural gas, coal, hydropower, solar and biomass resource potential, it has one of the world’s lowest levels of electricity consumption per capita of about 150 KWh.
Prof. Muhongo said Tanzania had only 10 per cent of the population connected with electricity at independence until 2005. From 2005 to the present the number had risen to 24 per cent due to massive investments in the energy sector totaling about 4trn/-.
According to government plans, 30 per cent of the population will be connected with electricity by the end of the year. He said there would be no going back as the government was committed to transform the sector as it is key to drive the economy and ensure sustainable development.
– Tanzania Daily News
