Zawadi B Lupelo
JF-Expert Member
- Jul 19, 2015
- 2,549
- 3,722
Nadhani hiki ndicho anachokiongelea Rais Magufuli!Hi All
I am very skeptical with some articles trying to portray Completely the truth of the Matter as this of TTCL, Its actually a scandal but the figures are not right. The truth of the Matters in a nutshell are:
Actual Selling price: $ 120 mil.
Initial Pay: $60 Mil
Final Pay: $ 5 Mil
Total Amount Paid: $ 65 Mil
Reason for underpayment: Audited account revealed that TTCL was a loss making Company and hence a review of Account was to be made which adjusted the value to that final figure. Big short who were behing that: Chenge who was then Minister of Infrastructure(During the selling was the Attoney General who participated in drafting the selling Contract), Sumaye (PM Then), etc.(the buyer MSI-Detecon Consortium 65% Government 35%)
During selling TTCL had a mobile license which was transfered to Celtel(which become 100% owned by TTCL ) and became operational 2003 by using the money paid during purchase as the government had no capital to inject in the mobile roll out, 2005 MSI-DETECON Consortium split, became MSI International only as Manager and brought an Idea of Separating TTCL and Celtel without thinking of paying back the government capital. The Celtel Int. 60% Government 40 %.
Since then I am very sure whether the government has ever received its divident, the 60% as has been changing hand to new investors while the government remain with 40% at stake. It has moved from Celtel to ZAIN now AIRTEL.
Whoever has got different facts whether from TTCL, Government should come up to construe mine.
Thanks
wbr.