Washington. Africa50, an infrastructure investment institution, has said it is ready to invest in Tanzania’s major strategic projects, including ports, transport systems, and energy distribution for gas and electricity, in support of the implementation of Dira 2050.
This was said by Africa50 Chief Executive Officer Alain Ebobisse during discussions with a Tanzanian delegation led by Minister of Finance, Mr Khamis Mussa Omar at the Embassy of Tanzania in Washington DC, on the sidelines of the World Bank and IMF Spring Meetings.
Mr Ebobisse said Africa50 has experience investing in infrastructure projects across Africa and sees strong potential for Tanzania to attract more private capital into development projects.
He said the institution has already invested between $20 million and $30 million in a pilot gas distribution project in Dar es Salaam and is now looking to scale up investment in gas and electricity distribution in partnership with the Tanzania Electric Supply Company (Tanesco).
He said African countries face challenges in financing infrastructure, but Africa50 is positioned to support efforts to close the gap.
“Our institution is ready to help address this financing gap,” he said.
Mr Ebobisse also said Tanzania will host Africa50’s General Shareholders Meeting and the Infra for Africa Forum this year, which will provide a platform to showcase investment opportunities.
Minister Omar welcomed the institution and said the government is improving the investment environment to attract more capital.
He said President Samia Suluhu Hassan has established commissions to review tax and investment systems, with recommendations expected to improve efficiency and investor confidence.
“These reforms are intended to encourage greater private sector participation in implementing Dira 2050,” he said.
He added that about 70 per cent of Dira 2050 implementation is expected to come from the private sector, while government will contribute 30 per cent.
The meeting was also attended by Zanzibar Minister of Finance and Planning Dr Juma Malik Akil, senior government officials, and Africa50 executives.
Africa50 is an infrastructure investment platform established by the African Development Bank (AfDB) to support infrastructure development across Africa.
