The Tanzania Investment Centre (TIC) has called on the private sector and foreign investors to invest in energy transition projects, assuring them of a conducive business environment.
Speaking at a meeting held in Dar es Salaam, which focused on "Attracting Finance and Investment for the Energy Transition in Tanzania," TIC's Principal Investment Officer, Mr Davis Biswalo, told energy stakeholders that the reformed policies and legal frameworks provide opportunities for both local and foreign investors to exploit available opportunities in the subsector.
He disclosed at the meeting that Tanzania and UNCTAD have agreed on a three-year deal aimed at attracting finance and investment in energy transition-related projects.
The meeting on Thursday served as a platform for stakeholders to collect feedback, insights, and inputs for the successful development and implementation of a national strategy regarding finance and investment to support energy transition projects.
"Tanzania is privileged to have this opportunity.
We are among the five countries in Africa that have been chosen by UNCTAD for this project, which is aimed at attracting investment financing that will subsequently enhance the availability of affordable energy," Biswalo added.
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On her part, the Deputy Executive Secretary of the Tanzania Renewable Energy Association (TAREA), Emma Laswai, urged the government to oversee such investments and create more supportive policies to attract additional investors.
At the well-attended event, which included representatives from both the public and private sectors, stakeholders addressed the challenges facing such investments in the country, including tariffs and taxes, market issues, arbitration, policies, and regulations.
The stakeholders who attended the event included representatives from the Zanzibar Investment Promotion Authority, China Engineering Group, the Ministry of Energy, the Energy and Water Utilities Regulatory Authority (EWURA), Tanzania National Electricity Company (TANESCO), the African Development Bank (AfDB), USAID, and NMB.
