Tanzania is a stable East African country with a resilient economy and fast-growing population. It has enjoyed sustained GDP growth of 5.5% a year over the past ten years, allowing the government to launch successive industrial and infrastructure projects to develop the economy and raise prosperity in the country.
Tanzania has good ties with international financial institutions, collaborating regularly with the World Bank on specific projects, attracting a $900 million International Monetary Fund (IMF) loan to support economic growth and securing B1 and B+ ratings from Moody’s and Fitch respectively.
This growth and dynamism mean demand for energy is increasing rapidly.
Tanzania’s demographics are expanding – today’s population of 69 million is projected to rise to around 140 million by 2050. Yet only 33% of Tanzanians have access to electricity today leaving millions of households without access to power. Even if homes have power, some 80% still cook with firewood or charcoal. Cooking with such polluting fuels causes 33,000 premature deaths annually and exacerbates deforestation.
There is also a need for energy in Tanzania’s growing industry which is often powered by gas. Shortfalls in electricity, which is generated by hydro and gas plants, have held back Tanzania’s economic development.
This is why Tanzania has made it clear its energy resources will be used to eliminate energy poverty, drive economic growth and boost living standards for citizens.
We would like to contribute to that ambition.
APT is the operator of the Ntorya Gas Field, Tanzania’s largest onshore gas project. We are building infrastructure and expanding our operations so that we can start producing gas from Ntorya for the Tanzanian market soon.
