By Ogova Ondego
Published October 23, 2015
Despite pending general elections on October 25, 2015, Tanzania is reaching out to investors as it jostles itself up for the position of East Africa’s regional hub.
Dar es Salaam, the former socialist state’s commercial capital, is readying itself for a two-day conference for players in the power and infrastructure sectors in December 2015.
The US$11 billion Chinese-funded Bagamoyo Port, touted as East Africa’s fastest growing economy’s first ‘mega infrastructure project,’ is expected to provide Tanzania with an increased role in the global economy just as the rail network being developed will link its neighbours to the west and south, thus increasing efficient export and regional trade.
These projects, that must be linked to Kenya’s Lamu Port-South Sudan-Ethiopia (LAPSSET) Corridor and East African Standard Gauge Railways that is aimed at connecting Kenya, Uganda, Rwanda and South Sudan for the envisaged benefits to be reaped, will no doubt increase industrial output in the country and across the region, especially as the regional infrastructure will function as a single network connecting eastern and western Africa via land.
Till now, Tanzania appeared to be the only country that would miss out on this gravy train. Now, the country is even revamping its Tanzania-Zambia Railway (TAZARA) line that was built through the support of China during Tanzania’s socialist era that ended 20 years ago.
That Tanzania’s full economic potential is yet to be tapped is what is likely to attract investors to ‘Powering Africa: Tanzania’ investment briefing conference that is scheduled for Dar es Salaam, December 3-4, 2015, regardless of the outcome of the October 25, 2015 elections.
This meeting, according to a media statement sent through African Press Organisation, is “designed for professionals active in Tanzania’s power and infrastructure sectors to meet with government decision makers and stakeholders to address the opportunities for investment and project development.”