Sep 26, 2017 Last Updated 8:34 AM, Sep 26, 2017

Tanzania to sell shares in power utility

electricityABN – The government of Tanzania has announced plans to sell up to 49% of the state-owned power utility through issuing shares to the public.

It will also split Tanzania Electric Supply Co., also known as Tanesco, into separate generation, transmission and distribution units.

The government will retain a controlling stake in Tanesco, while aiming to raise sufficient funds from the sale to invest $1.2 billion in the company over the next decade.

Tanesco’s electricity generation will be bumped from 1,400 megawatts at present to 10,000 megawatts by 2025.

@ABNetworkOnline

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