Zanzibar President and Chairman of the Revolutionary Council, Dr. Hussein Mwinyi, has called on East African Community (EAC) member states to establish Petroleum Development Funds to support research, innovation, training, and the overall development of the oil and gas sector.
Dr. Mwinyi made the remarks on March 7, 2025, in Dar es Salaam while closing the East African Petroleum Conference and Exhibition (EAPCE’25), which was held over three days.
He emphasized that the EAC Vision 2050 outlines the establishment of such a fund, making this the right time to implement the initiative as stipulated in Article 114 of the EAC Treaty, which calls for enhanced cooperation in managing resources for the benefit of all.
“EAC member states can learn from the African Petroleum Producers Organization (APPO) in collaboration with Afreximbank, which have agreed to establish the African Energy Bank (AEB) to address challenges in financing oil and gas projects while contributing to climate change adaptation,” Dr. Mwinyi stated.
The President also highlighted the importance of oil and natural gas resources in driving the growth of other sectors, citing how Tanzania’s oil sector has supported rural electrification projects.
Additionally, he commended President Samia Suluhu Hassan for her tireless efforts in advancing all sectors, including oil and gas, under her leadership, which has seen the implementation of strategic projects in the sector.
Dr. Mwinyi also praised EAC member states for the successful organization of the conference, including the EAC Secretariat, the EAPCE 2025 National Committee, the National Coordination Team, and its subcommittees.
Deputy Prime Minister and Minister of Energy, Dr. Doto Biteko, noted that the three-day conference included discussions, idea-sharing, and presentations by experts in the oil and gas sector, focusing on ensuring affordable, reliable, and secure energy access.
He added that EAPCE’25 attracted over 1,400 participants from 25 countries, demonstrating the commitment of EAC member states to advancing the energy agenda for sustainable development.
