Tanzania: Mkono Accused of Misleading Tanesco Over Escrow Account

THE escrow account was opened at the Bank of Tanzania (BoT) following a wrong advise given by Mkono and Company Advocates to Tanesco to dispute payments of capacity charges to Independent Power Tanzania Limited (IPTL), a document filed in court alleges.

There were claims that IPTL had been overcharging Tanesco, a result of which led the government, IPTL and the BoT to enter into an escrow agreement on July 5, 2006 and established the escrow account wherein the alleged overcharged amounts were deposited pending resolution of the dispute.

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