Songas is a leading Tanzanian energy company and is a strategic partner with the Government with its shareholders including Tanzania Petroleum Development Corporation (TPDC), the national utility, TANESCO, and Tanzania Development Finance Company Limited (TDFL). Globeleq holds majority interest in Songas.

On 29 November 2017, the Songas team hosted a Dividend presentation to some of its Tanzanian Government owned shareholders.

TANESCO received TZS 2.9 billion, TPDC received TZS 8.7 billion, while TDFL received TZS 2.3 billion and the Tanzania Government received TZS 11.6 billion. These amounts were nett of withholding tax and were determined by each entity’s shareholding in Songas.

Since COD commenced in 2004, Songas has worked hard to ensure the availability of its plant and providing an ongoing, reliable source of energy. Songas has been helping to power Tanzania’s industrialisation by providing approximately 20% of reliable and cost-effective electricity to the national grid, in addition to supplying natural gas to various manufacturing operations in Dar es Salaam. Songas offers an alternative and affordable form of energy and, as such, the company is an important regional energy producer.

Songas is currently the cheapest thermal generator of electricity in East Africa. By using domestic gas instead of imported fuel, TPDC estimates that, since Songas began its operations, the company has saved the Tanzanian economy more than $US5 billion.

Watch the presentation to the shareholders on video here.