Tanzania to reap economic gains as Samia hosts energy summit

Dar es Salaam. Tanzania is poised to gain significant economic benefits as President Samia Suluhu Hassan hosts the African Heads of State Summit on Energy in Dar es Salaam.

This high-profile event, which begins today, is expected to drive investments, create job opportunities, and elevate Tanzania’s role as a key player in Africa’s energy sector.

Over 25 African heads of state, along with key stakeholders in the energy industry, will attend the two-day summit to discuss strategies for ensuring reliable, affordable and sustainable energy access across the continent.

The primary goal is to expand energy access to 300 million Africans by 2030. Tanzania stands to benefit from potential collaborations and infrastructure investments in the energy sector.

Beyond policy discussions, the summit is anticipated to inject millions into Tanzania’s economy. Local transport service operators, hotel owners, and vendors will benefit from the influx of delegates and their entourages, who will need accommodation, meals, transportation, and entertainment during their stay.

Economist Dr Hamis Mwinyimvua from the University of Dar es Salaam stated that the summit’s significance goes beyond its immediate impact.

“The visitors will eat, sleep, and enjoy entertainment, all of which require payment. The more visitors pay for these services, the more Tanzanian service providers benefit,” he explained.

Dr Mwinyimvua added that workers in these sectors will also gain, as they inject their earnings back into the economy.

“Even if a citizen does not directly see the visitors, they will still benefit from the increased economic activity,” he emphasised.

Taxation expert Dr Balozi Morwa pointed out that tax revenue from businesses catering to the summit attendees will strengthen government coffers.

“Since these visitors will require taxable services, the government will gain revenue, which can be allocated to development projects benefiting the wider population,” he noted.

The summit serves as a strategic platform for Tanzania to attract investment in the energy sector.

Dr Morwa highlighted that the presence of global investors and policymakers presents an opportunity for Tanzania to secure long-term investments that could spur industrial growth and job creation.

“Some of these high-profile individuals may choose to invest in Tanzania, particularly in energy projects. This would not only bring in foreign capital but also create thousands of jobs for Tanzanians,” he added.

Tanzania’s abundant energy resources, including uranium deposits and renewable energy projects, will be prominently featured at the summit. Experts believe that showcasing these assets will increase the chances of securing funding for large-scale energy infrastructure projects.

“If investors commit to projects in Tanzania, they will pay taxes and contribute to economic growth, ultimately supporting the government’s ability to fund public services,” Dr Morwa said.

Minister for Foreign Affairs and East African Cooperation, Ambassador Mahmoud Kombo, confirmed that all preparations are in place for a successful summit. Dignitaries such as Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), have already arrived. Dr Adesina was welcomed at Julius Nyerere International Airport by minister for Finance Dr Mwigulu Nchemba, Dar es Salaam Regional Commissioner Mr Albert Chalamila, and deputy minister of Foreign Affairs Cosato Chumi.

The summit will welcome 25 heads of state, 10 vice presidents, prime ministers, and deputy prime ministers, bringing the total number of high-ranking leaders to 35.

Confirmed attendees include presidents from Algeria, Comoros, Liberia, Lesotho, Botswana, Kenya, Ghana, Gabon, Sierra Leone, Ethiopia, Sudan, Malawi, Zambia, Somalia, Guinea-Bissau, Burundi, Mauritania, Republic of the Congo, Madagascar, the Democratic Republic of the Congo, Libya, Nigeria, Djibouti, and Gabon.

Additionally, vice presidents from The Gambia and Benin, as well as the prime ministers of Côte d’Ivoire, Uganda, São Tomé and Príncipe, and Equatorial Guinea, will be present.

Deputy prime ministers from Eswatini and Namibia are also in attendance.

As discussions unfold, Tanzania is positioning itself as a central player in Africa’s energy future. Hosting this summit not only enhances its diplomatic standing but also demonstrates its commitment to energy development and regional cooperation.

President Hassan’s leadership in convening the summit underscores Tanzania’s dedication to fostering sustainable energy solutions for Africa.

With economic benefits already emerging and long-term investment prospects on the horizon, the African Heads of State Summit on Energy is set to leave a lasting impact on Tanzania’s economy and development trajectory.