Pula Group’s investment pledge after Tanzania entry

Pula Chairman Ambassador Charles Stith

Summary

  • US firm has opened a new office in Tanzania and pledged to invest more in the country’s graphite production and foster the green energy revolution

Dar es Salaam. Pula Group – an American firm which has its primary operations in Sub-Saharan Africa – has opened a new office in Tanzania and pledged to invest more in the country’s graphite production and foster the green energy revolution.

Speaking during the opening of the office in Dar es Salaam at the recently, Pula chairman Charles Stith, said the company believes in Tanzania.

“In December, President Biden will be hosting a summit of African leaders. We’re sending a message to the White House after today that this American company believes in Tanzania and is betting big on doing business in Tanzania,” said Ambassador Stith who formerly served as the US ambassador to Tanzania.

The current US Ambassador to Tanzania, Mr Donald Wright, top executives from G.M&Co. (T) Ltd, Brown Venture Group and the President of Pula Group, Dr Mary Stith, were some of the notable dignitaries at the office opening event in Dar es Salaam.

Ambassador Stith told the gathering that Dr Mary Stith has successfully conducted site visit in Ruangwa, Lindi, where the company was preparing to start the drilling, engineering and other work in ‘a couple of weeks’ in order to transition from an exploration licence to a mining licence.

“We plan on making sure that Pula and Tanzania play a key role in the green energy revolution that is currently taking place…,” he said.

In Tanzania, the company also has interests in Pula Graphite and Pula Kahama Gold.

“These represent the kind of future partnerships we hope to build across the African continent,” he said, pointing to the fact that with the announcement in Los Angeles, California (where the company’s headquarters are) that all cars sold from 2035 onwards must be either e-vehicles or hybrids, the need for batteries need not be overemphasised.

“That means a lot of batteries, which means a lot of graphite. Tanzania’s graphite fields are among the most plentiful in the world, which potentially places it at the epicenter of the green revolution that is gaining more momentum every day.

Being an African American-owned company, said Ambassador Stith, he views Pula’s entry into Africa as having a potential to transform Africa’s economy.

“In the same way that the Irish Diaspora helped jumpstart Northern Ireland’s economy and the Jewish Diaspora has assisted Israel’s economic growth and development, as an African American owned company, we view Pula’s entry into Africa as having the same sort of potential,” he said.