TANZANIA: PRES MAGUFULI WANTS STATE-OWNED ENTERPRISES TO PAY DIVIDENDS TO GOVERNMENT

DAR ES SALAAM-- Tanzanian President John Magufuli has urged all state-owned enterprises to pay their dividends to the government, so as to support the country's efforts to improve the economy.

President Magufuli made the call while launching the video conference service for Tanzania Telecommunications Company Limited (TTCL) at Julius Nyerere International Convention Center in Dar es Salaam.

He explained that there are about 90 companies and institutions eligible to pay dividends to the government, but only less than 50 of them pay government dues. Magufuli also said that in 2015/16 only 25 companies paid dividends totaling 249.3bn/- to the government, while 38 companies paid 667bn/- for the year 2016/17.

If companies faithfully pay their dividends, we'll increase our revenues, hence carry out developmental projects and improve social services, he added.

He further ordered Treasury Registrar, Mr Athumani Mbuttuka to follow-up on all eligible companies and institutions that don't pay dividends and ensure they do so.

President Magufuli received 1.5 bn/- as dividend from TTCL and acclaimed it for increasing its customer base from 247,000 to 800,000 as of last year.

Source: NAM NEWS NETWORK