Unlocking Potential: Tanzania’s energy sector invites foreign investment

DODOMA: THE Deputy Minister for Industry and Trade, Mr Exaud Kigahe, has invited companies participating in the 8th Power and Energy Africa International Trade Exhibition to invest in Tanzania, emphasising that Tanzania is full of immense potential and opportunities for trade and investment.

Additionally, the Deputy Minister said Tanzania’s energy sector is undergoing significant transformation, driven by a mix of traditional and renewable energy sources, noting there is a great opportunity for investment in the energy sector.

Mr Kigahe made the remark when officiating the 8th Power and Energy Africa International Trade Exhibition held in Dar es Salaam.

A three-day exhibition is hosting industry leading companies from various countries including China, India, Germany, France, UAE, South Africa, Pakistan, Ethiopia, Zambia and Kenya.

“I welcome all of you to Tanzania and I can proudly say today that Tanzania is a country with immense potential and opportunities for trade and investment,” he said.

Mr Kigahe said significant investments are being made in energy infrastructure, including the construction of new power plants and the expansion of the electricity grid.

Projects like the new Nyerere Hydropower Plant, Likong’o-Mchinga Liquefied Natural Gas (LNG) plant and the Kakono Hydropower Project are set to boost energy capacity.

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He said that the government has implemented various policies and regulations to support the energy sector’s growth.

“These include the Electricity Act, the Rural Energy Act, and the Public-Private Partnership (PPP) frameworks,” he added.

In a related development, he said Tanzania’s energy sector is poised for substantial growth, with a strong emphasis on sustainability and increased access to clean energy.

“This progress is expected to drive economic development and improve the quality of life for Tanzanians and also reduce environmental pollution of all kinds,” he said.

Jackson Wu is the Chief Executive Officer (CEO)at a Chinese Solar Power Company- Fadsol, who shows interest in investing in the country.

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Mr WU expressed his satisfaction with the friendly business climate created by the government.

“Tanzania is an ideal market due to its stable political and economic stability,” he said.

For his side, a Regional Director-East Africa at Expo Group, Mr Duncan Njage said this year’s exhibition has been highly successful as they host exhibitors from 22 countries.

Mr Njage also encouraged Tanzanians to attend the exhibition and see various solar products.