The two sides of the Obama visit coin
During the countdown to the arrival to Tanzania by US President Barack Obama, law enforcers cleared petty traders from various spots, and in ensuing confrontations, many lost their commodities and had to start afresh. FILE | PHOTO
What you need to know:
The Tanzania Private Sector Foundation (TPSF) Executive Director, Mr Godfrey Simbeye, says in the long run, erratic power supply that had been a source of deep frustrations by sector members would be relegated to history.
Dar es Salaam. Business community members, particularly in the private sector, have hailed the recent visit to Tanzania by US President Barack Obama as a catalyst for boosting their fortunes through the Power Africa Initiative and consolidation of African Growth and Opportunity Act (AGOA) arrangements.
The Tanzania Private Sector Foundation (TPSF) Executive Director, Mr Godfrey Simbeye, says in the long run, erratic power supply that had been a source of deep frustrations by sector members would be relegated to history.
“We are glad that during the visit, President Obama lay much emphasis on programmes for improving electricity supply, a key ingredient for the survival and progress of the private sector, which is fundamental for driving the country’s economy,” Mr Simbeye said.
Currently, only 14.5 per cent of the Tanzanian population has access to electricity, but through the Power Africa initiative, the figure is expected to reach 40 per cent, and thus have a bearing on many citizens.
The director says that although the US president met a few big local business tycoons,in the country, the commitment of $7 billion (Sh11.2 trillion) Power Africa project by the US government will benefit all citizens regardless of their economic status.
“The president also strengthened the AGOA arrangements in which small and medium enterprises (SMEs) will benefit a lot in their business transactions with US traders,” The Citizen On Sunday was told.
The Chairperson of the Chief Executives Round Table (CEORT), Mr Ali Mufuruki told this newspaper that the meeting that was convened between President Barrack Obama and some Tanzanian businessmen was an important milestone, though time was very limited.
“It is true that President Obama met with some Tanzanian businessmen, but it was in a very short period of time –which made it very difficult to exhaust all issues, ” Mr Mufuruki pointed out.
Mr Daniel Machemba, the Executive Director, Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA), says the visit was immensely important to Tanzania, especially through the on-going AGOA initiatives.
The AGOA, whose objective is to boost exports from Sub-Saharan Africa to the US by eliminating tariff barriers on a large number of their exports, was signed into law by the US Congress on May 18, 2000.
It was initially scheduled to expire in 2008, but was subsequently extended to 2015.
The US president highlighted four priority areas, including power projects, road infrastructural development and improvement, and water and youth programmes, focused on curbing unemployment challenges in the continent.
The trip has been beneficial to some business sector operators like hoteliers, tour operators, printers and transport service providers.
