President of The Republic of Tanzania Samia Suluhu Hassan inaugurated Elsewedy Industrial Complex of Elsewedy Electric East Africa Ltd in Tanzania, establishing a new regional manufacturing and export hub for wires & cables, transformers, meters, and insulators in a new milestone for the cooperation between Egypt and Tanzania.
The inauguration ceremony was attended by senior government officials from both Egypt and Tanzania.
From the Egyptian side, the investment delegation was spearheaded by H.E Asem El-Gazzar, Egypt’s Minister of Housing and Urban Utilities, the Ambassador of Egypt in Tanzania, Mohamed Jaber Abu El Wafaa, and the CEO of the General Authority for Investment and Free Zones (GAFI), Mohamed Abdelwahab, as well as 50 Egyptian businessmen and investors.
H.E. Hassan cut the ribbon at the opening ceremony, which highlighted a new landmark in the expansion plans in Africa for Elsewedy Electric, the leading Wires & Cables and Integrated Energy Solution Provider in the Middle East and Africa.
The ceremony was attended by senior Tanzanian government officials, including Minister of Investment of Tanzania, Geoffery I. Mwambe, Minister of Energy, January Makamba Minister of Foreign Affairs and East African Cooperation, Ambassador Liberata Mulamula, and Dar es Salaam Regional Commissioner Amos Makala.
Elsewedy Electric President and CEO Ahmed El Sewedy welcomed the honourable guests and delivered a speech on behalf of the company. “Elsewedy Electric has embarked on a mission to expand in Africa 20 years ago. Over this time, Tanzania has remained one important priority in our strategy, which materialized in 2018.
Tanzania’s favourable investment climate and its government’s support to industries enable Elsewedy Electric to use the new complex as a manufacturing and export hub at the heart of east and south Africa. Tanzania is suitably located bordering eight countries, six of which are nearly or completely land-locked, which makes Tanzania well-positioned to become a regional economic and transit hub,” said Ahmed El Sewedy, President and CEO of Elsewedy Electric S.A.E.
Built on 120,100 square meters with investments of USD 35 mn, the complex comprises several manufacturing facilities, from cables & wires, transformers, through PVC, and meters, to a logistic center built centre on a 4,800 square meters area. The complex will produce the solutions and equipment necessary for the industrialization strategy of Tanzania 2025 and will create over 500 jobs for talented youth and technical engineers in the first phase alone, which includes the wires and cables factory.
In addition, the complex includes a technical training academy to provide innovative technical education and vocational training programs with international standards to skill and train aspiring employees and feed the growing labour market in the developing nation.
“We are also keen on leveraging our social responsibility by working to develop the Tanzanian community and provide training for Tanzanian youth to cement their experience,” El Sewedy added.
On the same remarkable day, H.E. Hon. President of The Republic of Tanzania Samia Suluhu Hassan also laid the foundation stone of the Egyptian Industrial City (EIC) in the Kigamboni district of Dar es Salaam.
The 2.2 million square meters industrial park is expected to accommodate labour-intensive industries, including chemical, engineering and mining industries. Developed by Elsewedy Electric’s subsidiary, Elsewedy Industrial Development, the park is aimed to attract over USD 400 mn worth of investments from over 100 investors across the region, which would create more than 50,000 jobs and support Tanzania’s industrialization strategy 2025.
As part of Elsewedy Electric’s endeavour to promote investment in Tanzania, Elsewedy Electric is partaking in an Egyptian high-level delegation of 50 businessmen and investors who will meet and discuss the business climate in the country with their Tanzanian counterparts and senior government officials to explore potential investment opportunities.
The delegation will also participate in the Zanzibar Investment Conference, which is attended by the President of Zanzibar, H.E. Dr Hussein Ali Mwinyi, with the participation of Egyptian and Tanzanian officials and businessmen to discuss investment opportunities in the region in various fields.
Elsewedy Electric’s cooperation with the government of Tanzania has been ongoing for years. In 2018, together with the Arab Contractors and the Tanzanian Electric Supply Company, Elsewedy Electric had embarked on a massive project to construct the largest hydropower station in Tanzanian history – the Julius Nyerere Hydropower Dam. The project is expected to provide an annual average of 6,300 GWh of electricity, which would help millions of Tanzanians live and prosper.