Tanzania: Nicol Ltd Saga Takes New Turn

Dar es Salaam — The drama surrounding the National Investments Company Limited (Nicol) continues to rage as two rival parties refuse to budge, leaving shareholders uncertain about the future of their money.

Last week, Nicol interim board chairman Gideon Kaunda issued a statement to the effect that the board was contemplating to call an annual general meeting. This was after the High Court dismissed arguments put forward by Nicol chairman Felix Mosha and his allies and ruled in favour of the board in March.

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