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Another Rites deal in the making

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by Geza Ulole, Jan 20, 2011.

  1. G

    Geza Ulole JF-Expert Member

    #1
    Jan 20, 2011
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    Tanzania Telecom in 3rd sale attempt

    Monday, 17 January 2011 07:07 James Mwakisyala
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    DAR ES SALAAM, TANZANIA - The publicly-owned Tanzania Telecommunications Limited (TTCL) is seeking a US$214.67 million credit facility, as it plans to enter into the third privatization attempt.
    Reports from the TTCL workers' union revealed last week that an unnamed Vietnamese firm has shown interest in buying the country's telecoms back bone firm.
    This will be the third privatization attempt after the first two that ended miserably for Tanzania as the two firms failed to meet agreed terms and scope of work and business targets.
    The unconfirmed reports come in the wake of the TTCL's attempts to recapitalize by seeking a Government loan guarantee for US$214.67 million (Tshs 322 billion) to keep it financially afloat and competitive in a tough telecommunications atmosphere.
    Junus Ndaro, the Secretary General of TEWUTA - a workers' union, said in Dar es Salaam last week that TTCL needs an immediate recapitalization fund of Tshs70 billion ($46.67 million).
    TTCL finds itself in a pathetic situation partly because its major customers, the Government and some of its institutions, have failed to settle huge outstanding telephone bills that amount to millions of dollars, and the competition against four (major) mobile operators is mounting.
    The firm, twice privatized to foreign firms, is now operated by Tanzanian staff and management, but stiff competition and an inadequate entrepreneurship has tended to drag it down. Whilst competing telecommunications firms change with the times to cope with customers' demands and appetites, TTCL has been slow to respond appropriately.
    TTCL, retrenched over 500 staff in 2007 to cut operational costs and to hire new blood to boost business, has had to hire a large number of untrained staff, and those trained in-house have apparently been migrating to the competition. If the intimated sale proposal to a Vietnamese company succeeds, it will be the third foreign firm take over TTCL in the last 10 years.
    TTCL first went into an 'unsatisfactory' partnership with a joint venture of millionaire Mo Ibrahim's MSI of the Netherlands and Detecon of Germany.
    In that deal the joint investors held 35% shares in TTCL, but had total management powers. The investors failed to deliver on their promises to expand land lines whist they focused on the previously registered TTCL's Celtel mobile phones company.
    The joint investors instead arranged to have 60% in Celtel and the Tanzania Government agreed to take 40%. A few years later Celtel was sold to Zain, and resold to an Indian firm and renamed Airtel.
    Following the failed Government-MSI joint venture, the Government once again entertained foreign interests by hiring a Canadian telecoms management company. It too failed to run TTCL.
    That was when the Government decided to give Tanzanian employees total control of firm.
    Some observers see the failures were due to incompetent examination of the foreign investors/partners by Tanzanian authorities.
    They propose that instead of engaging a foreign management company, it should hire, from the open market, suitable managers.
    TTCL inherited a countrywide telecommunications network from the former East African Posts and Telecommunications Corporation that collapsed in 1977 during the fall of the former East African Community.
    The national firm was then split into the TTCL (telecommunications), the Postal services and the Tanzania Postal Bank.
    Tanzania Telecom in 3rd sale attempt

    NOTE:
    Ukiona kampuni inabinafsishwa halafu wawekezaji wanakuwa nchi kutoka SE Asian countries jua ni brifcase company na ni deal mtengenezaji wake akiwa na harufu ya wakina RA! maana wakati wenzetu (Ug and Ke) wameuza makampuni yao kwa kampuni ya Orange of France sie tunataka kuuzia watu wa Vietnam! We real have dirty and sick minds
     
  2. Abdulhalim

    Abdulhalim JF-Expert Member

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    Hii nchi bana..aarrgghh.
     
  3. Nyambala

    Nyambala JF-Expert Member

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    Kuna wakati huwa nafeel kukata tamaa kufuatilia mambo ya Tz...... it's just pathetic!
     
  4. Chapakazi

    Chapakazi JF-Expert Member

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    Nadhani kilichobaki ni kujichanga tununue! We have more power than we think. That is our only hope...
     
  5. Abdulhalim

    Abdulhalim JF-Expert Member

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    Mi nashangaa kitu kimoja, kama kila kitu wawekezaji ndio wanafaa kwanini tusiwekeze kuanzia Ikulu mpaka huko kwene halmashauri. We have to make a decision kama hakuna maendeleo na utatuzi ni uwekezaji basi tuanze kwanza uwekezaji wa rasilimali watu hususan viongozi wenye fikra zenye akili maana nadhani huko ndiko tatizo linapoanzia.
     
  6. Abdulhalim

    Abdulhalim JF-Expert Member

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    Ya nyuma ya pazia yanaweza kukusononesha, TTCL nadhani ni Tanesco na TRL nyingine. Wanene washaigeuza goldmine yao, ndio maana inayumba left & right.
     
  7. Nyambala

    Nyambala JF-Expert Member

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    Kinachonichekesha ni pale ambapo hatuelezwi ni kwa nini the previous JV's or mergers hazikufanikiwa. Na nnini kitazuia yaliyotokea kwenye hizo zingine yasitokee kwenye hili. Na kama kuna uzembe je hatua gani zimechukuliwa?
     
  8. Steve Dii

    Steve Dii JF-Expert Member

    #8
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    Waliowahi kufungwa kwa kuua mashirika ya umma na kampuni mbalimbali hapa Bongo hakuna (kama wapo watajeni tafadhali). Yaani kila leo hii ni kutafuta investor wapya na sababu nyingine kibao ili mradi tu kufukia mashimo ya kutowajibika, lakini wanaotufikisha kwenye hali hiyo hawawajibishwi... grrrrrrr :((
     
  9. Nyambala

    Nyambala JF-Expert Member

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    Yaani utafikiri nchi ndiyo inapata uhuru sasa, au ndiyo imetoka vitani kwa hiyo mnaanza mambo from square one.
     
  10. Abdulhalim

    Abdulhalim JF-Expert Member

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    Afadhali tungekuwa tumetokea vitani, kaka. Maana ukitoka vitani unajua the storm is over..lakini hali ilivo sasa..mmmhh. Tunaelekea kwene 'deterioration to static'
     
  11. Baba_Enock

    Baba_Enock JF-Expert Member

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    Kila baada ya Miaka Mitano tutakuwa tunasikia haya haya - Nchi haina "VISION" kwahiyo kila anayechukua Uongozi, be it Waziri, PS, CEO, basi anaanza upya!

    It is totally a "Banana Republic"! khaaaa!
     
  12. Nyambala

    Nyambala JF-Expert Member

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    Hivi, is there one thing, just one thing we can say we are good at?
     
  13. The Finest

    The Finest JF-Expert Member

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    be the hot dog supplier not the hot dog stand .......sasa ttcl ni hot dog stand
     
  14. Abdulhalim

    Abdulhalim JF-Expert Member

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    None, as i can remember.
     
  15. Steve Dii

    Steve Dii JF-Expert Member

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    Yes.... coping with mismanagement and at the protection of culprits.
     
  16. The Finest

    The Finest JF-Expert Member

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    We are good at talking and making promises
     
  17. G

    Gad ONEYA JF-Expert Member

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    Yeah. We are good at bullying anything we want to!
     
  18. Nyambala

    Nyambala JF-Expert Member

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    Yea I guess kwa hili tunaweza hata kupewa award!
     
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