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Debt collectors zero in on Manji

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by deny_all, Nov 13, 2008.

  1. deny_all

    deny_all JF-Expert Member

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    Nov 13, 2008
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    Debt collectors zero in on Manji


    A DEBT collector hired by the government to recover more than 180bn/- from the Commodity Import Support (CIS) scam has confirmed that prominent businessman Yusuf Manji is among the biggest debtors on the list.

    Debt collectors have thus far established that the chief executive officer of Quality Group Limited is behind a string of companies that benefited from the CIS funds, but held back in repaying the money to the government.

    As a one-week ultimatum given to the CIS debtors to pay up has formally expired, it has emerged that Manji has already returned some of the funds but is yet to clear his 'massive' debt.

    Ibrahimu Msolopa, the Executive Director of Msolopa Investment Company Limited, a debt collection agency commissioned by the Ministry of Finance and Economic Affairs to recover the CIS funds, confirmed to THISDAY that Manji was among the high-profile debtors on the list.

    He revealed that the controversial businessman has paid some of the debts, but was yet to settle the full amount of money he received from the CIS fund, which amounts to billions of shillings.

    ''Manji took many loans from CIS -- both small and large -- through his various companies. However, only a few of his companies have so far paid the debts, while others are continuing to pay up,'' he explained.

    According to THISDAY investigations, Yusuf Manji, who is strongly linked to the import support scam is believed to have pocketed tens of billions of shillings out of the CIS scheme.

    Msolopa could not immediately confirm Manji's total debt to the CIS fund, but said his debt collectors were continuing to recover more funds from the businessman.

    He explained that Manji and other debtors who were yet to settle their debts after the expiry of the set deadline would be given a grace period to pay up if they demonstrate a willingness to do so.

    However, he revealed that debtors who fail to settle their debts would be named and shamed publicly and ultimately dragged to court.

    It is understood that some of the company owners on the list had disputed the debts and were reluctant to settle their long overdue debts.

    Msolopa said some company owners simply disowned the debts, while others claimed they did not recall the money owed.

    A number of businessmen demanded clarifications from debt collectors as to when they actually went to take loans from the CIS funds, and ultimately agreed to pay the debts after being shown documentary evidence.

    ''Other debtors have been trying to disown the debts, claiming that they have inherited the debts from former shareholders of their companies thus showing some difficulties in accepting the liability,'' he said.

    He insisted that all individuals who fail to settle their debts would be publicly named.

    ''We will publicize the names of the defaulters then discuss with the Ministry of Finance and Economic Affairs further steps to be taken, including legal action,'' he added.

    He explained that officials from his debt collection agency were making visits to companies that have failed to settle their debts so far to discuss the way forward.

    After a much-publicised crackdown on corruption at the Bank of Tanzania (BoT), the government has appeared ready to shift its focus onto the long-standing import support scheme scandal, where around 16.6 billion Japanese yen (approx. 180bn/-) mysteriously disappeared.

    Official records from the Ministry of Finance indicate that a total of 916 companies countrywide are on the debtors' list.

    It has been confirmed that several companies on this list are owned by Manji, who appears to have already started to pay his debts.

    Well-placed sources have told THISDAY that the Prevention and Combating of Corruption Bureau (PCCB), the office of the Director of Criminal Investigations (DCI), and other law enforcement agencies have long been trailing the import support scam.

    In particular, the PCCB investigation on the CIS scandal was reported to have reached an advanced stage, but it remains uncertain if the government's corruption watchdog plans to pursue criminal proceedings against some well-known suspects.

    Insiders say apart from Manji, the names of various well-known businessmen and politicians - both past and present - are among those featured on the list of debtors.

    Under the CIS scheme, beneficiaries were supposed to provide 30 per cent of the requested funds known as 'cash cover.'

    It is understood that some of the listed debtors were basically duped by a notorious businessman into borrowing CIS funds they thought they would never have to repay.

    The scheme was initially administered by the Ministry of Finance, but from September 2002 it was moved to the Tanzania Investment Bank (TIB), ostensibly for better management of the funds.

    source: This Day.

    Swali: Watalipa na 'interest' au 'only basic amount borrowed' tu? Hii hela wamekaa nayo karibu miaka 20 na wamefaidika nayo kwa kiasi kubwa wakilipa tu the 'basic amount borrowed' itakuwa 'unfair' kwetu.
     
  2. Kigogo

    Kigogo JF-Expert Member

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    Nov 13, 2008
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    i sometimes get frustrated with this game between KULIKONI and THISDAY Vs Manji...I must critisize this because there are so many thing to write for poor Tanzanian rather than these stories.Kama anadaiwa then what?nani hadaiwi katika biashara..Nikiona KULIKONI na THISDAY najisikia kutapika ..Upuuzi mtupu..Mbona hawaandiki jinsi akina mama waja wazito wanavyopata tabu ya kutembea kilometa 30 kwenda kujifungua??why kila siku haya...
     
  3. DDT

    DDT Member

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    Nov 13, 2008
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    Mkuu Kigogo
    That's why kuna Gozi Mwanaspoti, Ijumaa, Kiu, Nipashe, Kulikoni, Raia Mwema, Dimba, Rai, MAjira, Alnuur name them all. There must be a diverse source of information. Kwani unataka tujirudishe enzi ya Uhuru na Mzalendo? Think hard mkuu, hulazimishwi kuyasoma wala kununua...we tapika tu wengine wanenepe...
     
  4. Zogwale

    Zogwale JF-Expert Member

    #4
    Nov 13, 2008
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    Big up Kulikoni and This Day!!! Haya magazeti yanafanya kazi nzuri sana. Kigogo kumbuka kuwa ili kuwe na huduma nzuri za hospital na akina mama na watoto wafurahie ni lazima kuwe na fedha zenye kazi kibao ikiwemo ununuzi wa dawa, vifaa, malazi, mishahara you name all. Sasa pesa za Manji alichukua nyingi hivyo unajua zimetusaidia kiasi gani hapa Tz??? Unajua main bank account ya Manji iko nchi gani? Do you think kuna multiplier effect kwa uchumi? Kama ipo ni ndogo sana. Manji hana huruma na Tanzania, wamejipatia mihela ya CIS bwerere na ni kwa sababu pengine liwekewa kifua na bigshot au pia alitumia part of it to win more CIS funds!!!

    Manji hana uchungu na mateso ya watanzania wenzangu. Unafahamu hata kule Quality group hataki kabisa ule ujuzi wake uenee kwa watanzania?? Kuna the only Tz ambaye anafanya technical work there and is highly protected asitoe siri za yanayotokea!!!!

    Hizi pesa za CIS na nyinginezo wangepewa wazalendo yaani wenye nchi si wale wanaojidai Watanzania ili wapate ujanja wa kula kweney Bakuli la rasilimali zetu.

    On the other hand, Serikali yetu imewalea hawa watu design ya Manji kwani ni hao wanakuwa na mijipesa haramu ya kuchangia michezo na uchaguzi!!!! Wewe unafikiri kwa nini wahindi wengi wanachangia sana baadhi ya mambo? Kwanza wanaangalia uongozi wa juu kwa wakati huo upepo unaelekea wapi. Kwa mfano wa sasa upepo upo kuendeleza soka badala ya maisha bora kwa mtanzania. Ndiyo maana unaona hata Vilman wa Serengete EPA victim bado anapeta kwa kuwa anachangia michezo na yule PR Manager wake anaweza kumtengenezea jezi za michezo through her PR and Printing company!!!!!!

    Kwanini tusione wakisema tuchangie tujenge hospital kijijini huko ili basi wamama na watoto wafaidi ili basi magazeti kama Kulikoni na Thisday na mengineyo including electronic media waripoti kwenye Taarifa zao? Nataka nikuambie haya magazeti yameshaandika masuala ya Community health in vain hakuna kinachotekelezwa. Hata mimi sinunui gazeti linaloandika Vommunity health maana hakuna cha maana hapo zaidi ya kunipa majonzi jinsi ambavyo akina mama wanafuata huduma za afya mbali na wengine wanafia njiani kwa kukosa huduma za kujifungua.


    Kama wewe Rais wangu Mtukufu na Mheshimiwa unanisikia naomba kuwa ageuke nyuma atizame ahadi zake kwa wananchi kuhusu uchumi wao na huduma za jamii. Then fedha ya EPA na CIS aone namna ambavyo atazigawa kwa sector zote muhimu na si kilimo tu ambacho hakitabiriki.

    Nawailisha wakuu.
     
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