17 May 2018

Tanzania: JPM Sets Deadline for Suma JKT Loan Defaulters

Dar es Salaam — President John Magufuli has given public and private institutions 30 days to settle their debts, which stands at Sh38.3 billion, with Suma JKT.

The President issued the directive during a ceremony to launch Suma JKT investment centre at JKT Mgulani on Thursday, May 17, 2018.

According to Dr Magufuli, some public and private institutions, which borrowed tractors, have yet to pay Suma JKT some Sh38 billion.

He added that there are some other public and private institution, which owe Suma JKT Sh3 million over unpaid security services bills, through its Suma JKT guard.

"Public and private institutions borrowed tractors from Suma JKT amounting to Sh40 billion, but only Sh2 billion has so far been repaid," said the President.

Upon the expiry of the 30-day ultimatum, the Dr Magufuli directed security and defence organs through the TPDF military police to take action against the defaulters.

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