Dismiss Notice
You are browsing this site as a guest. It takes 2 minutes to CREATE AN ACCOUNT and less than 1 minute to LOGIN

Tanzania sells its stake in disputed Embassy Hotel

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by BAK, Oct 19, 2008.

  1. BAK

    BAK JF-Expert Member

    #1
    Oct 19, 2008
    Joined: Feb 11, 2007
    Messages: 50,013
    Likes Received: 9,667
    Trophy Points: 280
    Tanzania sells its stake in disputed Embassy Hotel

    [​IMG]
    The Embassy Hotel in Dar es Salaam. Before privatisation, Tanzania had 15 hotels and game lodges under the state-owned Tanzania Tourist Corporation. Photo/LEONARD MAGOMBA

    By WILFRED EDWIN and JOSEPH MWAMUNYANGE
    THE EAST AFRICAN

    Posted Sunday, October 19 2008 at 09:48

    One of the most problematic privatisation transactions in Tanzania - the sale of the once-famous Hotel Embassy - is set to be concluded as it emerges that the hotel that has not been operational for almost five years, has at last been offloaded to a third party.

    The EastAfrican has learnt that the government has sold off its shares in the Dar hotel to Messrs Karmali Juma, a joint venture partner in the hotel.

    The development now sets the stage for another round of litigation between workers who were declared redundant and the new owners of the former state-owned hotel.

    Jointly owned by three investors, Hotel Embassy has not been operating due to a protracted court case between workers who were declared redundant and the owners.

    The matter is still pending at the High Court.

    Investigations by The EastAfrican have revealed that the government has sold off its 40 per cent shares to Karmali Juma & Sons at a price of $538,640.

    In the previous shareholding structure, Karmali Juma's interests in the company were represented by K.J Motors.

    Both the government and K.J Motors owned a 40 per cent stake in the hotel, with Kibo Hotels owning another 20 per cent.

    Joseph Mapunda, public and regulatory manager for the Consolidated Holdings Corporation, which oversees privatised public enterprises, told The EastAfrican that the sale agreement would soon be signed off, declining to disclose a clear time frame.

    The estimated current value of the hotel stands at $1.3 million, taking into account the location and the assets.

    When the deal is finally concluded, Karmali Juma & Sons will now assume a majority 80 per cent share.

    In the first ruling of the battle before the Industrial Court, the workers won the first round, with the court ordering the employer to pay arrears, including for the period when the hotel had remained closed.

    However, the employer disputed this and appealed at the High Court challenging the ruling of the Industrial Court.

    With the parties deadlocked, the workers have been lodging suits and counter-suits with little success. At one stage, the workers were appealing against what the courts had awarded them, insisting that the amount be revised upwards.

    This came at a time when their employer had said he was willing to withdraw the case and settle matters with the former employees.

    At one point, a senior retired trade unionist is said to have tried to broker informal negotiations between the parties.

    Before privatisation, Tanzania had 15 hotels and game lodges under the state-owned Tanzania Tourist Corporation, which accounted for two-thirds of the country's tourist-class accommodation.

    The game lodges - which included Novotel Mount Meru, Lake Manyara Hotel, Ngorongoro Wildlife Lodge, Seronera Wildlife Lodge, Lobo Wildlife Lodge, Mikumi Wildlife Lodge and Mafia Island Lodge - had a total bed capacity of 1,500.

    The first six lodges were awarded to Mauritius-based Hotels and Lodges Ltd, which placed a top bid of $28 million, ahead of other leading international hotel groups, whereas Mikumi Wildlife Lodge was awarded to a local investment firm before it was gutted by fire.

    Most of the state-owned hotels were operated under the government-owned National Development Corporation in co-operation with private investors. This was mainly through equity fund and loans.

    The first state-owned hotel to be opened in the country was Kilimanjaro Hotel (now Kilimanjaro Hotel Kempinski), which commenced operations in 1965.

    Other hotels that were owned by the government but are now in private hands were Bahari Beach Hotel, Kunduchi Beach Hotel, New Africa Hotel, all in Dar es Salaam, and Tanzania Wild Safaris Ltd and a beach hotel in Zanzibar.
     
  2. bokassa

    bokassa JF-Expert Member

    #2
    Oct 19, 2008
    Joined: May 19, 2007
    Messages: 403
    Likes Received: 0
    Trophy Points: 0
    Wajameni Hivi Mount Meru hotel nayo ishasukumwa??

    Nilipita arusha last summer nikaona wameizungushia mabati!!!!!
     
  3. Rev. Kishoka

    Rev. Kishoka JF-Expert Member

    #3
    Oct 19, 2008
    Joined: Mar 7, 2006
    Messages: 4,396
    Likes Received: 16
    Trophy Points: 135
    Ama kweli umasikini wa kufikiri na uvivu wa kufanya kazi unatufanya tugawe mali kwa bei rahisi kila siku. Anza madini, mashamba, hoteli, mashirika mwisho Ikulu!
     
  4. Nkamangi

    Nkamangi JF-Expert Member

    #4
    Oct 19, 2008
    Joined: Mar 17, 2008
    Messages: 642
    Likes Received: 2
    Trophy Points: 0
    imeuziwa mfanyabiashara wa mererani eti, ahem! katokea mbulu...see where i'm getting at?
     
  5. M

    Mama JF-Expert Member

    #5
    Oct 19, 2008
    Joined: Mar 24, 2008
    Messages: 2,858
    Likes Received: 14
    Trophy Points: 0
    kwani wa mererani hafai nunua hiyo hotel, na akitokea mbulu kuna ubaya gani?
     
  6. Nkamangi

    Nkamangi JF-Expert Member

    #6
    Oct 19, 2008
    Joined: Mar 17, 2008
    Messages: 642
    Likes Received: 2
    Trophy Points: 0
    mama read between the lines...
     
  7. M

    Mama JF-Expert Member

    #7
    Oct 19, 2008
    Joined: Mar 24, 2008
    Messages: 2,858
    Likes Received: 14
    Trophy Points: 0
    i have read
     
  8. Nkamangi

    Nkamangi JF-Expert Member

    #8
    Oct 19, 2008
    Joined: Mar 17, 2008
    Messages: 642
    Likes Received: 2
    Trophy Points: 0
    look/think harder, you've got to think this one out for yourself, or wait for others to spell it out for you. I have nutting against wambulu, trust me
     
  9. M

    Mama JF-Expert Member

    #9
    Oct 19, 2008
    Joined: Mar 24, 2008
    Messages: 2,858
    Likes Received: 14
    Trophy Points: 0
    thank you.....
     
  10. M

    Mkandara Verified User

    #10
    Oct 20, 2008
    Joined: Mar 3, 2006
    Messages: 15,419
    Likes Received: 76
    Trophy Points: 145
    Nilivyosikia mimi Mh. Mramba ndiye mmiliki wa Hotel hiyo!..
     
  11. BAK

    BAK JF-Expert Member

    #11
    Oct 20, 2008
    Joined: Feb 11, 2007
    Messages: 50,013
    Likes Received: 9,667
    Trophy Points: 280
    Nami nimeshasikia hivyo, yeye naona aliamua kukwapua Hotel hiyo na mume mwenziye fisadi Mkapa akaamua kukwapua Kiwira. Nina wasiwasi kwamba katika wamiliki wapya wa haya mahoteli ya kitalii yaliyokuwa chini ya TTC, wengi ni vibosile wa juu wa sirikali, iko siku yatakuja kufichuka.
     
  12. u

    uporoto01 JF-Expert Member

    #12
    Oct 20, 2008
    Joined: May 23, 2008
    Messages: 4,746
    Likes Received: 9
    Trophy Points: 135
    Naona tumeibiwa tena,kwenye mazungumzo na rafiki yangu mmoja anaefanya kazi na real estate agents aliwahi kuniambia kuwa kiwanja kile pekee kinaweza kuuzwa kwa 1.5 mpaka 2million dollars.Mimi niliwahi kuwa dalali wa kiwanja kimoja mandela road kigageuzwa kituo cha mafuta na mnunuzi alitoa 500milioni[$450,000].Sasa hichi cha CBD[central business district] chenye ghorofa sijui 6 kina thamani ya 1 bilion?
     
  13. MAMA POROJO

    MAMA POROJO JF-Expert Member

    #13
    Oct 20, 2008
    Joined: Nov 22, 2007
    Messages: 4,971
    Likes Received: 11
    Trophy Points: 135
    Bahari Beach Hotel ipo taabani, baada ya mwekezaji wa Lyibia aliyeinunua kushindwa kuiendesha hotel hiyo kwa zaidi ya miaka 12 iliyopita. Mameneja wote zaidi ya sita walioletwa hapo kutoka Lyibia kwa ajili ya kuijenga upya wametoweka na mabilioni ya fedha wanazopewa kukarabati hotel hiyo, sasa hivi hotel inatisha kwa kuzungukwa na vichaka na uharibifu uliofanyika ndani ya hotel. Mwekezaji huyo wa Libya aliipata hotel hiyo baada ya kupigiwa chapuo na Mama Majid aliyepata baadaye kuwa waziri wa utalii. Alitoa ahadi nyingi kwa serikali enzi za mzee ruksa moja wapo ni kukarabati na kujenga barabara inayotoka hotelini kupitia mtoni hadi mbuyuni barabara ya bagamoyo, wakati huo barabara hiyo ilikuwa haipitiki, lakini hakuwa na uwezo huo wa kuijenga barabara hadi serikali ilipoamua kuitengeneza yenyewe barabara hiyo.
     
  14. N

    Njimba Nsalilwe JF-Expert Member

    #14
    Oct 20, 2008
    Joined: Mar 23, 2008
    Messages: 251
    Likes Received: 0
    Trophy Points: 0
    Lagatega

    Inaonyesha watu wetu hawajui residual value za nyumba na kwamba location, accessibility,nk peke yake inatosha kupandisha bei.

    Kwa mfano angalia bei ya soko ya nyumba TZ hapa:

    Houses and apartments for sale in Tanzania

    Utagundua kuwa hiyo bei wanayotaja ni ya nyumba ya kawaida kabisa na iliyo nje ya mji.

    Lakini jamani nani anafanya valuation ya hizi nyumba za serikali? Wamesoma hawa au ndio ufisadi unawafanya wayakane yale waliyosoma?

    Nina imani wangeiuza kwa mnada au kutangaza watu wajiue wenyewe bei isingekuwa hiyo.

    Hii ni hatari sana! Halafu mnunuzi ni wale wale!

    Njimba
     
  15. Deshbhakt

    Deshbhakt Senior Member

    #15
    Nov 11, 2008
    Joined: Jan 22, 2008
    Messages: 161
    Likes Received: 0
    Trophy Points: 33
    The owners of Kibo hotel has been buying parastatals left,right and centre and todate many remain a white ghost. His aquistion of Moshi hotel too sparked off a debate due the subsquent delays in renovations of the hotel as he claimed that he had bought a fishing company in Mwanza from where he would have used the profits to renovate the Moshi hotel but 'sadly' when he actually took over the fishing company,the trawlers were run down beyond redemption.But in reality they would aquire one company,mortage the same with a bank and buy another one and other projects and end up simply having many aquisitions but no actual operations were intiated!

    Impala hotel than 'took'over moshi hotel and kibo hotel filed a case and ahem.lost!(another long story)

    So really it is perhaps better if indeed the new investor does renovate and start the hotel asap rather than it remains closed for more years...
     
  16. N

    Nyauba JF-Expert Member

    #16
    Nov 11, 2008
    Joined: Jul 10, 2008
    Messages: 1,099
    Likes Received: 2
    Trophy Points: 133
    Tatizo letu hatupendi UWAJIBIKAJI jamani. yaani hoteli zotee hizo tulishindwa kuzisimamia.
    wenzetu kenya wao chuo cha utaliii mapema halafu wakawa very SERIOUS KWA KAZI.
    JAMANI TUANZISHE UMOJA WETU JF AS INVESTMENT CLUB TUSHIRIKI KUNUNUA MASHIRIKA YALIYOPO NA KUWEKEZA TUWE MFANO.
     
  17. M

    Morani75 JF-Expert Member

    #17
    Nov 11, 2008
    Joined: Mar 1, 2007
    Messages: 619
    Likes Received: 2
    Trophy Points: 0
    Duh, unajua sidhani kama kuna kitu kimebaki manake tatizo sio nani amenunua bali imeuzwajeuzwaje!!???!!??

    Mungu Ibariki Tanzania na watu wake!!!!!!!
     
Loading...