13 February 2013

Tanzania: Govt for All TTCL Shares

Dodoma — THE government has started the process to wholly own of the Tanzania Telecommunication Company (TTCL) with the aim of turning it around.

The Deputy Minister for Communication, Science and Technology, Mr January Makamba told journalists in Dodoma that the decision to do this was part of a strategy to make a turbulent TTCL stable and more beneficial to Tanzanians.

Currently, the government owns 65 per cent shares while 35 per cent stake is under a mobile phone company, Airtel Tanzania. "We have started to talk to our counterparts on our aim to buy their shares so that we can completely own the company," he said.

He noted that this is purposely done so that the government can effect strategies to turn around the company as it wishes for the good of the nation. "This is one of the measures aimed to improve things at one of the oldest companies in this country," he said.

He explained that other challenges facing the company included limited capital and lack of modern technology. He said that he believed that the company's board will take the lead in facilitating the needed change and make the company a modern one.

"TTCL has a wide network in this country and should have been among the best in the country... but this is not what is happening," he noted.

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