Friday , July 12 2024

Tanzania and the East African Community (EAC) at the centre of regional transmission expansion

Investors from across industry, finance and government are convening to showcase Tanzania’s potential. Potential that is epitomised by a country now ranked third in sub-Saharan Africa for future investment, that is expected to see 6% GDP growth by 2025, and that has seen hundreds of millions, if not billions, of dollars of investment, targeted towards infrastructure, hydropower, LNG and solar projects in recent years.

Ranked by KPMG behind only South Africa and Nigeria, Tanzania has confirmed its status when it comes to trade and investment.

The nation was cited for its strategic location to the east of the continent, its abundance of natural resources, and its recent investment spike, especially in the power sector. A first on-grid 50MW solar power plant, a $300 million investment into hydropower, a $42 billion LNG project formed by Shell, Equinor and Exxon Mobil, and almost $7 billion injected into infrastructure, confirms its attractiveness both in Africa, and globally.

Organised by EnergyNet, TECS24 will not only highlight these success stories but look at future trade and generation projects poised to transform the country and region further. Challenges around financing and guarantees will also be brought to the fore, to ensure that momentum isn’t lost and that the country’s power sector continues to go from strength to strength.

Alongside major investors, stakeholders attending include national ministers from Tanzania, Malawi and Ethiopia, as well as heads of national utilities, including Tanzania’s Managing Director of TANESCO, Gissima Nyamo-Hanga. Speakers from Electricidade de Moçambique (EDM) and Zambia’s ZESCO will also be present. They, alongside representatives from the public and private sectors, DFIs – including AfDB, BII, World Bank Group and ATIDI – and multilaterals, will descend on Arusha for an intimate, high-level business retreat like no other.

With an emphasis on Tanzania’s’ position as a regional energy enabler, topics being brought to the table include Tanzania’s economic outlook and energy development potential, as well as plotting the best way to build a regional power market. Public-private partnerships in transmission projects will also be on the agenda, in addition to DFIs, governance and regulations, and the vital role of renewables. Attendees will be invited to offer ideas around building better regional interconnection, more robust frameworks for trade and investment, and ultimately to form a roadmap for regional energy access moving forward.

“Tanzania’s positioning on the continent has made it pivotal to trade. With connections between South and East and also to the rest of the world, the country has always had the potential to be a trailblazer for industrial growth – and now we’re seeing how this potential will be realised. It’s therefore hugely exciting to showcase Tanzania’s growth and to make sure the opportunity and momentum continues.” said Simon Gosling, Managing Director, EnergyNet.

He continued, “We’re also delighted to be hosting the summit in Arusha, giving everyone the time and space to deep-dive into the sector’s most pressing topics.”

“With Tanzania being one of our founding member countries, we are keen to do more in support of the country’s energy sector goals. Building on the progress made at last year’s event in Dar es Salaam, we hope that TECS24 will provide greater clarity on the proposed role of the private sector in the energy sector and how DFIs – particularly multilateral insurers and guarantors like ATIDI – can be supportive of such efforts and the wider energy transition,” commented Obbie Banda, Underwriter & Acting RLSF Coordinator at the African Trade & Investment Development Insurance (ATIDI).

Aleem Tharani, Co-Head for Infrastructure Sector Group (Africa), Bowmans and Head of Projects, Energy & Infrastructure (Africa), concluded: “The 5th Tanzania Energy Cooperation Summit marks a pivotal moment for Africa’s energy sector. By uniting investors, government entities and industry specialists, we’re fostering dialogues crucial for advancing Tanzania’s energy roadmap, prioritising gas and renewables, and enhancing regional transmission. Bowmans is proud to sponsor this summit, recognising its significance in shaping Africa’s energy future and strengthening public-private partnerships.”

 

By: Thelma Muchemwa

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