Govt to repossess stake in Airtel soon!

THE government is finalising the procedures to repossess 35 per cent stake of the Tanzania Telecommunication Company Limited (TTCL) from Bharti Airtel. The government is the majority shareholder with 65 per cent of the shares.

Repossession of the 35 per cent stake from the Airtel will enable the government own 100 per cent of the shares. TTCL Chief Executive Officer Dr Kamugisha Kazaura said in Dar es Salaam that 100 per cent ownership of the telecom firm is important to realise the country’s huge potential as Information and Communication Technology (ICT) hub in the region.

“TTCL is currently doing huge connectivity business within and outside the country. With government assurance in guarantee in accessing finance from lenders, the telecom firm will flourish without the partner investor,” he said.

In the long run and after restructuring the company, he said the telecom firm is planning to offload some of its shares to the public to give citizens an opportunity to own it. “Citizens should feel the sense of ownership of their telecom firm and benefit from its growth,” he said.He said some of the institutions served by TTCL in terms of connectivity include NMB, CRDB, NBC, Barclays bank, Exim Bank, KCB, Akiba Commercial Bank, Tanzania Revenue Authority (TRA), and Tanzania Ports Authority (TPA).

Others are the parliament, National Audit Office, Ministries like Energy and Minerals, Finance and Economic Affairs, Health and Social Welfare, Regional Administration and Local government, Tanzania Commission for Universities.

He said also that TTCL provide bandwidth to five countries namely Rwanda (1.2 GBPs), Zambia, Uganda, Burundi and Malawi. Similarly, in implementing connection to the rural areas, Dr Kazaura said already 20 wards are connected and before year end 110 more wards will be linked with the cost efficient technology network.

/Daily News.