Investment Boost for Tanzania

Posted on : Saturday, 6th December 2014

 For Tanzania, it is much more than just an injection of cash. According to the authorities, it is a revolution. A revolution in the energy market, where each dollar invested wisely may give rise to subsequent significant changes.

78 million dollars. In the world of big business, such a sum does not cause anyone to suffer from vertigo. However, for Tanzania it is a real mountain of gold especially that the money will be allocated to one, specific goal monitored by the Government of the United States. It will be allocated to the development of the energy sector, which is still faltering in Africa. The money will be allocated to infrastructure development but most of all to system and institutional transformation since it is the complicated procedures and lack of legal solutions that are the main problems affecting the development of the energy network in Tanzania.

The objectives are ambitious – as part of the aid project Power Africa, the United States intends to double the number of the population with access to electricity, especially in hard-to-reach rural areas. However, this is not the only good news for Tanzania in recent days. It is no longer Nigeria, but Tanzania that has become according to recent reports, the most popular market for extraction of natural gas in Africa. According to investors, the country alongside Mozambique, Kenya and Angola provides the best conditions for exploration and extraction of the blue fuel. It is not just about the quantity of the deposits but, above all, the approach to the issue by the local authorities and changes in the rules to encourage foreign corporations to invest in Tanzania.