BID TO REBRAND EAST AFRICA FOR ENERGY INVESTMENTS

BY GRACE MACHA IN ARUSHA 

Potential energy investments in the East African Community (EAC) region will be rebranded under a recently signed deal.

The partnership is intended to bolster the key economic sector through a platform that will increase visibility of available opportunities.

 

The deal was signed  between the EAC and EnergyNet Limited, an entity based in London which profiles energy projects in the region.

The EAC deputy secretary general in charge of Infrastructure, Productive Sectors and Political Affairs Andrea Maleuth signed on behalf of the Community.

The inking of the partnership comes nearly two months after the Tanzania Energy Cooperation Summit (TECS) which took place in Arusha. 

The summit, organized by EnergyNet with the support of an array of donors, was aimed to woo more energy investors to Tanzania and other eastern Africa states.

The partnership, signed in Washington during the March 5th to 6th Powering Africa Summit, gave more responsibilities to TECS on energy development in the region. 

"TECS will rebrand to a broader, regional investors summit from 2025 under the title 'The East Africa Energy Cooperation Summit (EA-ECS)' ", Sarah James, EnergyNet's marketing manager. 

"The partnership has a primary objective of bolstering the region's energy sector and enhancing  collaboration among and between the East African countries", the statement said.

The move, she said, aligns perfectly with the EAC priorities for 2022-2025 which include increasing visibility, stakeholder knowledge and awareness around the region's power challenges.

"Energy is a pillar for development and growth and is crucial for the functioning of the economies of the EAC partner states

 "The East Africa Energy Cooperation Summit will serve as the ideal platform for advancing projects and bringing tangible changes in the industry", Mr Maleuth said.

He added that energy was a crucial sector of the regional economies and a catalyst for  the  EAC's industrialization strategy 2012-2032.

"Reliable supply of energy would enhance industrial production and boost the EAC economies through wealth creation", he  pointed out.

Mr. Malueth further added that the  EAC region was keen for energy investments that would make power supply cost effective, efficient and environmentally-friendly. 

Speaking during the signing of the agreement in Washington DC, EnergyNet managing director Simon Gosling said; 

"The EAC was ideal for massive influx of investments because it is one of the fastest growing economic blocs in the world.

He urged the EAC partner states to unite in implementation of the energy projects, noting that they can lift "tens of millions of people into middle income and above bracket".

During the regional energy conference  (TECS) held  in Arusha recently, Tanzania appealed for increased investments to meet the increasing power demand currently estimated at 10 to 15 percent a year.