Samia launches 92bn/- electrical tools plant

07Dec 2021
By Guardian Reporter
Dar es Salaam
The Guardian
Samia launches 92bn/- electrical tools plant

​​​​​​​AN EGYPTIAN firm is preparing to build a large electrical instruments factory billed at $40m (92bn/-) investment in Dar es Salaam, building transformers, electric cables and meters for the local and export markets.

President Samia Suluhu Hassan talks with Elsewedy Electric (East Africa) Ltd president Ahmed Elsewedy (2nd L), Energy minister January Makamba (L) and the Minister of State in the Prime Minister’s Office (Investment) Geofrey Mwambe (R) after launching phase I of the compny’s factory situated at Kisarawe II in Kigamboni district in Dar es Salaam yesterday. Photo: State House

Launching the multi-billion factory at the Kigamboni suburb yesterday, President Samia Suluhu Hassan was beaming at how investors were flowing to the country to initiate investment projects that in turn push economic growth

The factory is one of its kind and the first in Sub-Saharan Africa, and will have the capacity to produce 15,000km of wire, 1,500 transformers and 100,000 electric meters per year, built by Elsewedy Electric East Ltd.

The firm’s director had back in August met with President Samia at the Chamwino State House where he promised to initiate various investment projects totaling $3bn (6.9 trn/-) including construction of an industrial city in Kigamboni.

.The president extended total government support including the security of invested capital and a reliable market, saying that half of the products will be sold in foreign markets, enabling Tanzania to export high-technology products.

Tanzania was happy to receive a delegation of 111 members from the Egyptian business community to explore available investment opportunities, she stated, noting that during her trip to Egypt she met some of the investors present at the site.

“This shows how they have been attracted to invest in Tanzania. Be happy and explore what we have. I’m also sure that you are going to learn a lot during the investment forum in Zanzibar,” she affirmed, pointing at Tanzania is a second home. “Be assured of your own and your businesses’ safety and security, I hope you get time to enjoy while you are here.”

She appealed to government officials to prepare to serve the rising number of high-profile investors and ensure that they conduct their operations smoothly.

“We should change, and now we’ll be receiving a number of high-profile investors from various parts of the world, so improve your customer care and make sure that they are served on time,” she emphasised.

The government will ensure that all the supporting infrastructures including roads, water and power are well served, to facilitate smooth operations.

“However, investors are still decrying bureaucracy and availability of land, so responsible leaders should work on the matter and ensure that investors find no hurdles,” she demanded.

Geoffrey Mwambe, the Minister of State in the Prime Minister’s Office (Investment) said that since independence, Tanzania has managed to register 11,978 projects valued at $175.2bn, and in the .six months of President Samia’s tenure, the Tanzania Investment Centre (TIC) registered 164 projects put at $3bn in value.

Efforts by the president to attract investors and ensuring a conducive investment environment make the country enhance its position as an investment destination, with a number of major project involved, he said.

“A few days ago, we received a delegation of 111 business people from Egypt, 40 of them being high-profile investors. They are eager to invest in the industrial city slated for Kigamboni,” he said, built by Elsewedy Corporation with a number of factories established by other investors.

Elsewedy CEO Ahmed El Sewedy said: the company feels honoured to launch the project, alluding to helping to stimulate the economy, add to employment opportunities and improve people’s lives.

The company was impressed on how the Tanzania government treats them and puts a conducive environment to support smooth operations, he stated, specifying that the firm counts Tanzania as a second home now despite having investments in a number of other countries.

“We will continue establishing more projects here,” he said, elaborating that the industrial city to be constructed in Kigamboni will house over 200 factories set up by many other investors.

Ibrahim Quamar, the firm’s resident director for East Africa, hailed Tanzania for creating a conducive business environment, with investors chipping in to establish various development projects.

 Due to various attractive policies, the company has decided to invest in the major project which will enable more electric meters, wires and transformers to be produced locally, he added.