Tanzania: Why Vodacom Tanzania Lost Sh30 Billion

Dar es Salaam — Vodacom Tanzania Plc shareholders will not receive a dividend this year after the company announced a net loss of Sh30 billion for the year to March 31, 2021, primarily on account of recalculated taxes.

"Following the net loss after tax for the year, the board of directors has decided not to recommend dividends in relation to the financial year ended March 31, 2021," the company announced in its preliminary financial results. However, the company's managing director, Mr Hisham Hendi, says looking forward, the firm's cost management programme and proactive measures to drive digital and financial growth will improve the profitability of the Group in the new financial year.

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