Tanzania: Samia Hassan Orders Treasury Registrar to Assess Institutions and Companies

28 August 2024
Tanzania Daily News (Dar es Salaam)
By Esther Takwa

President Samia Suluhu Hassan has instructed the Treasury Registrar, Nehemia Mchechu, to assess public organizations and companies in which the government holds significant shares but that are not profitable, with the aim of offloading them onto the market.

The Head of State made this statement during the opening of a three-day working session for board chairpersons and executives of public institutions, which took place at the Arusha International Conference Center (AICC) on Wednesday.

According to President Samia, the move is intended to make these organizations more effective and efficient in their operations, while also giving the government the freedom to hold them accountable if they make mistakes.

"I'm wondering, is there any need for the government to have equal shares in organizations that do business? Sometimes the government faces financial constraints, yet its money is tied up in organizations where we have large or equal shares.

So, I ask myself, why don't we just sell those shares and allow others to do business, while we retain a few, earn dividends, and ease this burden on the government?

"Sometimes these organizations make mistakes, and we, as the government, are reluctant to hold them accountable because we are part of them.

Now, let us separate ourselves from them so that we can have the liberty to question them. In the end, the government benefits, and so does the nation as a whole," she added.

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However, President Samia urged public organizations in the country to invest wisely in strategic areas, mentioning food security as one of the best areas to invest in.

Earlier, Treasury Registrar Mr. Mchechu stated that for the government to benefit from its shareholding, his office is currently conducting a thorough analysis of organizations in which the government has minimal shares to determine how much they are delivering and whether the government should continue investing in them or withdraw.

He added that within three months, they expect to complete their report.

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