Kikwete Invites Australian Companies To Tap In Tanzanian Gas

Tanzanian President Jakaya Kikwete completed this week a four day visit to Australia, where he attended several public and private events to discuss topics as business and trade, education, and international security.

President Kikwete met the Australian Prime Minister Tony Abbott to discuss the current situation of the energy sector in Tanzania, and the international measures and agreements that are needed to fight the threat of the Al-Shabaab group, part of the Islamic State’s network.

During the meeting held in the Australian Capital, Canberra, the Tanzanian President invited the Australian companies to aim at Tanzania’s gas reserves that represent a huge opportunity for power supply and the manufacture of other products for domestic and international markets.

According to Special Broadcasting Service (SBS), a private-public funded company, there are currently 18 Australian firms with more than 100 operations, mainly in the energy and minerals, in Tanzania, whose natural gas reserves are the second largest in East Africa after Mozambique with 53.28 tcf according to the Tanzanian Ministry of energy and Minerals.

Ending his visit to Australia, President Kikwete was recognized with the grade Doctor of Laws Honoris Causa by the University of Newcastle (UON), which is one of the main Tanzanian education partners in the country.

President Kikwete was the first head of state being honored with such degree for his efforts and leadership on the contribution to the peace and stability in Tanzania as President during both terms.

According to data released by the Tanzanian Embassy in Germany, Tanzania has seen an increase of 92% in FDI inflows from Australia which currently represents 3.07% of the total inflows from OECD countries with a total of USD 34.88 million ( AUD 48.08 million).