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