National
UK pledges financial support for East African energy sector
By Zephania Ubwani The Citizen Bureau Chief (email the author)
In Summary
- Instead of selling cotton, we should sell fabrics. The same case should apply to other raw or semi-processed goods that are now being exported from the EA,” he said.
Arusha. Britain has pledged to support energy projects in the East African Community (EAC) bloc through capital injection.
Newly found oil and gas as well as geothermal energy resources would be targeted, it emerged during talks between British High Commissioner Dianna Melrose and EAC officials as well as during her visit to the East African Business Council (EABC) head offices here.
Most of the support from UK would be directed to the region through public-private-partnership (PPP), said the EABC executive director Mr Andrew Luzze after brief talks with the envoy and her delegation. According to him, one of the energy projects which was successfully implemented through PPP was the Bujagali hydro-electricty power station in Uganda.
He said private companies in the UK were keen to provide capital for the gas, oil and geothermal energy projects in East Africa, a move that would also increase the private sector participation in the energy sector in the region. During the talks, Ms Melrose also stressed the need to encourage technology transfer through industrialisation which would add value to exports to the developed countries instead of exporting them in raw form. “Instead of exporting raw leather we should export ready made shoes and bags. Instead of selling cotton, we should sell fabrics. The same case should apply to other raw or semi-processed goods that are now being exported from the EA,” he said.
According to Mr Luzze, the British envoy expressed keen interest in strengthening the role of the private sector so that it can play an effective role in economic growth in the bloc. She also stressed the need to enhance intra-regional trade and efforts being made to reduce the cost of doing business.
During her visit to the EAC Secretariat on Tuesday, Ms Melrose l
No comments:
Post a Comment