PRIVATE SECTOR LAUDS NEW EFFORTS TO ENHANCE POWER PRODUCTION TO SUPPORT INDUSTRIALIZATION

Access to affordable and reliable power remains the most critical challenge to the country's industrial transformation ambitions, Godfrey Simbeye, Executive Director of Tanzania Private Sector Foundation (TPSF) said.

“The situation should improve dramatically in the coming years as a result of the investments being made by President John Pombe Magufuli’s administration in key infrastructure projects – such as the 2100MW hydropower project at Stigler's Gorge,” Mr. Simbeye said.

Simbeye also highlights the challenge companies face in accessing affordable debt financing, particularly for early and mid-stage funding from venture capital firms and private equity investors.

“These two challenges will continue to deprive Tanzania of large industrial undertakings and deter participation of local investors in these projects,” he said.