The private sector in Tanzania has commended new efforts to enhance power generation that will ensure reliable electricity supply for industrial plants. Their establishment is ongoing in the drive to industrialize the economy.
Mr Godfrey Simbeye, the Executive Director with the Tanzania Private Sector Foundation, said access to affordable and reliable power is important. This is most especially for the country’s industrial transformation ambitions.
Tanzania infrastructure Projects
“As a result of the investments being made in key infrastructure projects such as the 2100MW hydropower project at Stiegler’s Gorge, the situation should improve dramatically in the coming years,” he said. This was after signing a Memorandum of Understanding with the global research and consultancy firm Oxford Business Group on behalf of the Foundation.
Mr Simbeye also highlighted the challenge that companies face in accessing affordable debt financing. It is particularly for early and mid-stage funding from venture capital firms and private equity investors.
 “The group would be exploring these and other topical issues in its forthcoming publication of the report. Tanzania 2017.” OBG’s Country Director, Ivana Carapic said.
She noted that Tanzania’s industrialization will be a key focus. This is alongside the government’s efforts to reduce the informal economy as well as the balancing act it faces in bridging a budget shortfall without further squeezing businesses.
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“Tanzania has a number of large infrastructure projects in the pipeline. Notably, these projects have the ability to change the course of the country,” she said.
“On top of this, a national push targeting middle income status is to produce a raft of new investment opportunities. I look forward to working with TPSF. We will highlight the issues that businesses would like to see addressed. We will also consider areas of the economy that are ripe for growth as we begin work on landmark publication.”
Under the MoU, TPSF will contribute to OBG’s first-time report on Tanzania’s investment opportunities and economic activity.
