DAR ES SALAAM: AS Tanzania anticipates to embark on Africa’s ambitious goal of providing electricity access to 300 million people by 2030, analysts have expressed optimisms on how the initiative is going to benefit the country in various sectors of the economy.
The country in collaboration with the African Union, the African Development Bank and the World Bank is set to host the energy summit on January 27-28 in Dar es Salaam dubbed “Mission 300” that will feature Energy Ministers and Heads of State from African countries and will be presided over by President Samia Suluhu Hassan.
The summit is an opportunity for governments, private sector leaders,development partners and civil society to advance the ambitious goal of providing electricity access to 300 million people by 2030.
Speaking in an exclusive interview with the ‘SUNDAY NEWS’, an economist-cuminvestment banker Dr Hildebrand Shayo, said the initiative is going to serve as a catalyst in boosting investment growth, trade, manufacturing and agriculture among many.
Dr Shayo stated that consistent power availability will be crucial for boosting growth in all sectors, including economy, enabling the government to compete both locally and internationally.
“It will enhance production, support industries, foster innovation and, most importantly, improve the quality of life for Tanzanians in both rural and urban areas,” said Dr Shayo.
He pointed out that the availability of reliable energy is crucial for enticing domestic and international investors across diverse sectors.
The reliability of energy influences cost structures, operational efficiency and the longterm stability of enterprises, all of which are essential considerations for investors in their decision-making processes.
“These benefits include, but are not limited to, mitigating operational risks and costs, ensuring business continuity, enhancing competitiveness in global markets, promoting technological advancements and innovation and alleviating energy poverty and economic inequality,” he said.
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Dr Shayo expounded that through the initiative, the country stands poised to experience significant revenue growth through the enhancement of its energy infrastructure, the enhancement of electricity accessibility and the strategic utilisation of natural gas alongside renewable energy resources.
This growth could be reinvested into further development, infrastructure and social services advancements.
The significance of these developments cannot be overstated, as they are essential for realising the nation’s enduring economic objectives and the pursuit of sustainable advancement.
Furthermore, he said Tanzania possesses considerable potential to export energy to adjacent nations and play a pivotal role in the southern power pool initiative, mainly attributable to its advantageous geographical position, abundant natural energy resources, and the ongoing development of its energy infrastructure.
“Tanzania can potentially emerge as a reliable energy exporter to its neighbouring nations in East and Southern Africa, “he said.
On his part, a lecturer from Dr Salim Ahmed Salim, Centre for Foreign affairs Godwin Amani said the initiative will strengthen Tanzania’s bilateral and multilateral cooperation with its neighbouring states, including attracting foreign investment.
“When we have reliable resources like electricity, it greatly attracts investment because investors get assurance of gaining returns on their investments,” said Mr Amani.
An entrepreneur residing in Dar es Salaam, John Mathias said that the government’s initiative to provide reliable electricity and electrify the entire country will empower small enterprises and promote local economies.
“Reliable electricity and the electrification of all villages, greatly helps people to engage in various businesses, hence boosting their incomes,” said Mathias.
