Deputy Minister of Energy, Judith Kapinga, has affirmed that the ongoing Saudi Arabia Business and Investors Forum will catalyze investments into Tanzania's energy sector.
She underscored the immense opportunities available in natural gas, electricity, and clean cooking energy during the forum.
Speaking at the event, which convenes over 250 business leaders and investors from both Tanzania and Saudi Arabia on December 18–19, 2024, in Riyadh, Hon. Kapinga highlighted Tanzania's competitive edge as a reliable energy provider.
She specifically pointed to the Julius Nyerere Hydropower Project (JNHPP), set to generate 2,115 megawatts of electricity, as a landmark initiative ensuring consistent energy supply.
“This forum not only unlocks investment potential but also fosters stronger ties between Tanzania and Saudi Arabia in the energy sector,” she said.
Officially opening the forum, Minister of State in the President’s Office responsible for Planning and Investment, Prof. Kitila Mkumbo, extended a warm invitation to investors, emphasizing Tanzania’s robust and investor-friendly policies.
“Tanzania offers abundant opportunities across key sectors such as energy, mining, manufacturing, trade, agriculture, infrastructure, and the blue economy. These opportunities are underpinned by sound policies aimed at facilitating economic growth and attracting global investment,” said Prof. Mkumbo.
He attributed the rapid expansion of Tanzania’s investment sector to President Samia Suluhu Hassan’s transformative leadership, which prioritizes creating an enabling environment for investors.
Tanzania’s Ambassador to Saudi Arabia, Dr. Mah’d Juma Abdalla, urged Tanzanian participants to fully leverage the forum as a platform for promoting the country’s economic potential.
“This forum offers a rare opportunity to expand business networks and showcase Tanzania's diverse investment opportunities. I encourage every participant to ensure their efforts yield tangible outcomes for their respective sectors,” he said.
The forum has drawn participation from a cross-section of Tanzanian leaders, including the Minister of Industry and Trade, Dr. Selemani Jaffo; Minister of Finance, Dr. Mwigulu Nchemba; Minister of Minerals, Antony Mavunde; and Deputy Minister in the President’s Office responsible for Employment and Investment in Zanzibar, Sharif Ali Sharif.
Senior officials from the Ministry of Energy and its affiliated institutions are also attending, including the Assistant Commissioner for Petroleum, Engineer Joyce Kisamo; the Assistant Director of Policy, Research, and Innovation, Oscar Kashaigiri; and the Petroleum Business Manager at the Tanzania Petroleum Development Corporation (TPDC), Baraka Nyakutonya.
The Saudi Arabia Business and Investors Forum represents a strategic initiative to position Tanzania as a prime destination for energy investments. With its vast natural resources and ambitious energy projects, Tanzania is set to attract sustainable investments, bolster economic growth, and strengthen its global partnerships.