Kachanchabuseta
JF-Expert Member
- Mar 8, 2010
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New revelation: Dowans in huge debt
-Controversial turbines named as collateral for massive loans from Barclays, Stanbic banks
THISDAY REPORTER
Dar es Salaam
THE controversial Dowans Tanzania Limited company is carrying a massive debt resulting from loans received from various commercial banks to the total amount of $75m (over 100bn/-), THISDAY can reveal today.
Our investigations have established that the loans were secured by registered company assets including the 100-megawatt power generation turbines that the state-run Tanzania Electric Supply Company (TANESCO) has been trying to purchase through its parent government ministry.
Documents seen by THISDAY show that during 2007, Dowans was awarded several loans worth a total of $55m from Barclays Bank alone, and another $20m from Stanbic Bank.
In May 2007, a debenture in favour of Stanbic Bank Tanzania Limited was taken out, under which all present and future assets of Dowans Tanzania Ltd - both movable and immovable were placed under mortgage for the loan.
A month later (June 2007), Dowans initially secured a loan of $20m from Barclays Banks Mauritius branch, and five months later, landed another credit line of $5m - this time from Barclays Bank Tanzania Limited.
Again, the company put up its registered assets as collateral.
Yet another certificate of indebtedness shows that Dowans secured another loan of $30m from Barclays Bank in November 2007.
It could not be immediately established if either the TANESCO Managing Director Dr Idris Rashidi or the Minister for Energy and Minerals, William Ngeleja, were aware of these debts when vigorously pursuing their bid to pave the way for a government purchase of the companys used turbines at an astronomical price of $60m (approx. 90bn/-).
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Hii benki ya Baclays Bank managing director wake ni Rished Bade ambaye anatoka Arusha na wana undugu na Idrisa Rashid managing director wa Tanesco.Huyu Rashid Bade walikuwa wote benki kuu ya Tanzania wakati Idrisa Rashid akiwa gavana wa Benki kuu.Hivyo kama mikopo ilichukuliwa Baclays twaweza unganisha dots.Pia ile mipesa ya EPA na Richmond iliyopitia CRDB kwa managing director Kimei haikuwa bahati mbaya.Kimei alikuwa ni mkurugenzi benki kuu wakati Idrisa Rashid alipokuwa gavana wa benki kuu.Kwa hiyo Idrisa Rashid,Rished Bade na Kimei wanafahamiana sana tu na kwa karibu wakiwa benki kuu na baada ya kutoka benki kuu inaelekea wameendeleza mtandao fulani wa kuliza nchi.
Kiufupi twaweza kusema unapoongelea ufisadi na connection na benki kuu Rished bade,Idrisa na Kimei wako connected Kiuhalifu unaohusu ndani na nje ya benki kuu kupitia EPA,Richmond,Dowans.Maana mapesa yaliibwa benki kuu yakaenda CRDB mengine yakaibwa kupitia Richmond yakaenda CRDB na mengine yakakopwa Baclays sijui yalienda wapi kama mmiliki anakana kuwa hakukopa labda yalifanyiwa money laundering kupitia benki fulani yakayeyukia kule kunakofanana na wanakoficha pesa akina chenge na wengineo.
Tafakari.........................