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Tanzania: Ticts Confirms Karamagi's Out
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The Citizen (Dar es Salaam)
16 May 2008
Posted to the web 16 May 2008
Rodgers Luhwago
The Tanzania International Container Terminal Services Ltd (TICTS) board has officially announced the removal of Mr Nazir Karamagi from the post of the board chairman.
Addressing the press yesterday in Dar es Salaam the representative of Hutchison Port Holdings (HPH) Mr Neville Bissett said the decision to remove the former Minister for Energy and Minerals from the post was reached by the board meeting held on May 8 this year.
However, Mr Bissetti could not explain explicitly the reasons that prompted the container handling firm board to remove the former cabinet minister besides maintaining that the decision was triggered by the 'recent development of matters".
The HPC representative who traveled all the way from Hong Kong explained that that HPC Group Managing Director John Meredith will now be the new TICTS board chairman.
HPH is the world's leading port investor, developer and operator with interest in a total of 292 berths in 47 ports in 24 countries.
Asked what would be the fate of 30 per cent shares in the firm owned by the beleaguered former cabinet minister, the HPH representative said: "His (Mr Karamagi) removal from the post has nothing do with his shares in the company,"
The change in the top management level in the firm has been made at the time when the government plans to initiate talks with the management for the objective of nullifying the company's second contract that was to expire in 2025.
On Monday this week Prime Minister Mizengo Pinda told editors in the city that te government had already sent a notice to the TICTS management expressing its intention to initiate talks to nullify the extended contract.
" In think you heard how the Parliamentarians argued about the decision of extending the contract. In fact it was learnt that there was no substantiating reason that pressed the government to enter the second contract before the first one expired," Mr Pinda was quoted as saying.
The premier added that it was important to wait for the first contract to expire to give a room for performance appraisal before deciding on whether to sign the second one or decide otherwise.
Asked yesterday to comment on the government's intention to nullify the extended contract, Mr Bissett said it was not wise to say anything about the matter since official discussion with the government on the subject is yet to be held. " It is not wise to comment anything on that now simply because we will be pre-empting the discussion".
In a statement issued to press yesterday to press, Mr Meredith was quoted as having been encouraged by the strong growth achieved under the company's management at Dar es Salaam port . He said container volume grew from 123,000(Twenty-Foot Equivalent Unit- TEU) to 344,000 TEU in 2007.
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He said TICTS has already invested US dollar 21million since the start of the concession,a figure that exceeds the original investment plans at the time of privatization.
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