Agony of investor as bank auctions Sh5 billion hotel

paschal nakuelewa ila kuna walakini. mimi taaluma yangu ni Real Estate Investment. tatizo la awamu iliyopita ushauri wa kitaalamu ulidharaulika sana. nakumbuka 2012 nilifanya presentation ya project appraisal ya shirika moja la mafao lililowekeza majengo kubwa ya biashara Moshi na arusha. payback period ya Moshi ilikuwa 89 years na Arusha moja 68 na jingine 62. nikareccomend waachane nazo. walinichukia wakakasirika na sikufanya nao kazi tena. repoti ya juzi ya CAG ameyataja majengo hayo kuwa non performing investments. wawekezaji wengi waliwekeza hivyo kiujanja ujanja. we must come to equilibrium.
Fisi,unajua kwanini walikuchukia?Kuna real estate ndiko kwenye upigaji rahisi sana wa mbumba.
 
Uwekezaji wa ujenzi umefeli au umefelishwa, sasa mbona bado mnawekeza majengo huko Dodoma?

Proverbs 20:
18. Get good advice and you will succeed, don't go charging into battle without a plan.

28. A king will remain in power as long as his rule is honest, just and fair.

Ni kuulize haya majengo ya umma na ya watu binafsi yaliyo jengwa DSM kama yalivyo sasa kungekuwa na anticipation ya serikali kuhamia Dodoma kwa staili hii tuliyoioana bado uwekezaji wake ungefanyika? Kweli kuhamia kulikuwepo tangu enzi za mwalimu lakini kwa mwenendo wa serikali ulivyo kuwa nani alitrajia hiki tukishudiacho katika kuhama?

Je kodi ya serikali ambayo ingepata kutokana na biashara ya pango katika majengo haya yatakayo pungukiwa wapangaji itaongezeka au itapungua? Dodoma itaweza kufidia hiyo kodi itakayo pungua au ndio ina endekuitafuna kodi zaidi katika uwekezaji unaofanyika?

Provebs 20:

30. Sometimes it takes a painful experience to make us change our ways.

Maumivu ya serikali kuhamia Dodoma tuliyastahili kama taifa zama hizi?

Na washawasha!










Hayo maujenzi sijui vipi. Ndo bei za ujenzi, nyumba na viwanja zikawa zinapaa kila kukicha. Tulikuwa kama tuko newyork au London. Maisha yakuigiza kabisa yale.

Waliokuwa wanakimbilia kila MTU mijengo na mahoteli ya thamani kubwa Kwa kipato cha wateja wapi? Au kutegemea mazungu ya unga?

Mauwekezaji kwenye ujenzi yalikuwa ya gharama sana na kila mmoja alikuwa anakimbilia huko Kwa sababu zake kuanzia watu binafsi mpaka taasisi za umma.

Unajenga jengo la bilioni 5 wateja wenyewe WA vipato vya laki 5 Kwa mwezi. Utapata wapi wateja kufanya marejesho na kupata faida baada ya kutoa garama za uendeshaji?

Ukisikia kuiga biashara ndo huku. Watu walijua kipindi cha kuhonga semina za serikali zikafanyikie hotelini kwao kitaendelea milele

Bora hata bosi slim angekuwa amefungua kiwanda cha uzalishaji. Uwekezaji kwenye maujenzi ulikuwa wazi ungefeli tu. Lilikuwa suala la muda
Sema imetokea haraka zaidi
 
Before bor



Before you invest anywhere, you have to check the stability of the country and spending power of the people. Tanzania has been operating on false economy especially during Kikwete administration. Some investors were impressed by few people spending creating money circulation in the county, Most money spent by people during Kikwete administration was money stolen from the government in way of tenda or tax avoidance.

People were building hotels, expensive properties, and bank were giving loans without assessing the business and the economy. Property in Tanzania, especially in big cities they were overtaking western countries where spending power is several times better than that of Tanzania,
Saying that there is still a chance to invest in Tanzania and make a living. Low cost housing that is what ordinary Tanzanians wants, and not big hotels, luxtury housing expensive than their earning. Most of big hotels survivei' by used to accommodate unnesseary government.


Yah una kapoint flani hapo...unakuta mtu ni mtumishi ni mtumishi tena senior...ukiangalia kwa DSA ainayopewa akiiwa jijini na akikaa hoteli ya 50.000 basi hata kazi zitakwama....hio hotel ya 50.000 tena iliyopo sinza yenyewe inanuka mkojo so haifanani na value ya hio hela.....ilistahili mtumidhi huyu alale chumba cha 120.000 but kwa kulipa hiyo 50000.nahisi gharama zilipaishwa kuliko wateja husika ambao ni wananchi katika context ya nchi husika.
 
Mapovu ya nini mkuu ? Hali ya uchumi wa nchi ndio hiyo sasa .

Kuna tajiri mwenzangu mmoja hotel yake ina vyumba 40 , lakini kila siku anapata wageni watano tu , tofauti kabisa na mwaka juzi , uzuri ni kwamba hadaiwi hata thumni ya madafu .
Tajiri mwenzako yupi we nyumbuz wa mamvi tu
 
UKwa maelezo hayahaya uliyotoa kukosoa uwekezaji wa huko Bagamoyo hebu linganisha na uwekezaji wa kuhamia Dodoma. Makosa si yaleyale yanayo jirudia?

Fedha zinazo tumiwa kama uwekezaji wa makao makuu zingetumika kurekebisha mapungufu yaliyo DSM si tunge save na kubakia na vijichenchi.

Nani alikuambia uwejezaji wa bandari ni wa muda mfupi? Na lile eneo la uwekezaji hasa viwanda ambalo lilikuwa liende sambamba na bandari mtalifanyia nini? Halafu kila siku tuna ambiwa awamu ya viwanda huku vinapigwa mateke.

Na washawasha!



Unapofanya investment kubwa ni lazima uangalie mbali, haswa factors muhimu za uchumi na sio utashi wa siasa wa muda mfupi. Hebu tuangalie hawa watu waliokimbilia kuwekeza Bagamoyo kitu gani kiliwahakikishia kuwa walikuwa wanafanya uwekezaji utakaolipa? Wengi wao waliamini kuwa Banadari mpya ingejengwa Bagamoyo na waliamini hivyo sio kwa sababu za kiuchumi la hasha ila kwa sababu zilizoshabihiana na siasa kuwa kwavile rais wa wakati ule Kikwete alikuwa anatoka huko basi huo mradi ungetekelezwa!! Ukiangalia kiuchumi utaona kuwa kujenga bandali mpya Bagamoyo wakati bandari ya Dar haikuwa inatumika optimally ni wastage of resources; rationally badala ya kujenge bandali mpya iliyo karibu na Dar resources hizo zitumike kuboresha na kupanua bandari zilizopo ! Huo nadhani ndio msimamo wa economists ambao ni pragmatists na wazalendo tofauti na wale wachumia tumboni!!

Miradi mingi ya watu binafsi na ya serikali ilikuwa inaanzishwa huko Bagamoyo kwa sababu ya kujipendekeza tu kwa aliyekuwa Rais wa wakati ule; kwa mfano ujenzi wa campus ya IFM kule Msata sijui kama hata inapangiwa fungu kwenye bajeti na mwishowe nduguze Kikwete ambao waliuza mashamba yao kwa IFM watarudi mashambani mwao na hakuna atakaye waondoa tena [ strange enough makaburi ya babu zake Kikwete yako within the campus compound]. Miradi hii ambayo haikufanyiwa proper econimic appraissal mwisho wake ndio huo kutoendelea kutekelezwa na kupotea kwa rasilimali nyingi zilizotumika awali katika matayarisho yake.
 
Thanks, anashinda humu usikute saa hizi anasoma, na next hotuba atasema sifanyi kama alivyojibu lile swali la humu jf lililouliza anayejua anatupeleka wapi, akatoa assurance ya yeye ni dereva bingwa tutafika tuu salama!.

Paskali


Mkuu Paskali, labda tu nikutoe mashaka. Pengine? Mengi aliyosema Kimweri ni sahihi japo kuna marekebisho ya hapa na pale, kwa maoni yangu. Ndiyo maana nimetanguliza "pengine".

Mosi, suala la wageni kuishi nchini bila vibali na kudorora kwa soko la nyumba japo ni kweli lakini haliwezi, na lisingepaswa kuwa suala la msingi katika kupanga ukuaji wa uchumi wa nchi. Raisi ni kiongozi wa mambo yote, uchumi ni moja ya mambo hayo, lakini pia kuna masuala ya usalama wa nchi, amani na hata muelekeo wa nchi. Mathalani, kama wageni hao walikuwa majambazi au magaidi au wenye-kujishughulisha na biashara haram, tulipaswa kuwaacha tu maadamu wamepanga majumba Masaki na Mikocheni na hivyo kuwaondoa nchini uchumi utadorora! Ninarudia: sina maana wageni wote walioishi nchini bila vibali walikuwa magaidi au wafanya biashara haramu, ila kimsingi hili ni moja ya masuala ambayo raisi na wasaidizi wake, pamoja na wasaidizi wa uchumi, walipaswa kuangalia -na waliliangalia, na kuona kwamba kiusalama hatuwezi kuishi na watu ambao hawakuwana vibali vya kuishi nchini. Hata huo uchumi ili ukue unahitaji usalama na amani nchini. Sidhani kama kuna nchi uchumi unakuwa katika mazingira ambayo watu wameishi tu bila kujua nani anafanya nini wapi na kwa shughuli gani.

Ukirejea mada-asili ya yule "mwekezaji wa Bagamoyo", hayo ndiyo baadhi ya matokeo yake, kwani walikuja wajanja-wajanja na kwa kutumia uhuni-uhuni kwenye mabenki wakachukua mikopo wakitarajia kwamba wataendelea kunyonya-nyonya kwa sababu hatukuwa na mipango au usimamizi thabiti wa sheria za uwekezaji, sheria za uhamiaji na usimamizi wa raslimali za nchi. Hivi fikiria tu, ingekuwaje tuchukue mikopo kama nchi kujenga bandari Bagamoyo ilhali hii ya Dar-Es-salaam imetushinda kuiendesha! Sababu zipi za kimsingi, kwa sababu tu Kiongozi mshkaji-wetu ametoka Bagamoyo? Huu ni uchumi ambao, sina neno la Kiswahili, wanauita Potemkin Economies. Uchumi, aidha uwekezaji, wa majukwaani kuonyesha show kama ya Gombesugu. Bagamoyo pazuri sana na kuna historia kubwa, ya Utumwa, lakini Bagamoyo kwa sasa hivi kama bandari haikuwa na hadhi ya nchi kuchukua mabilioni ya dollar kujenga bandari nyingine na hivyo kutuletea wawekezaji kama huyo Slim Slim! Ule ulikuwa ni uhuni na, nimeishiwa tena maneno ya Kiswahili, speculation. Hivyo, haya sasa ndiyo matokeo yake, na dawa ya mkopo lipa deni!

Pili, masuala yote mengine aliyoongea Kimweri ni sahihi japo kinadharia zaidi. Laiti kama ingekuwa rahisi kama Kimweri anavyodurusi, basi ninadhani nchi zote zingekuwa zinanunua hizo "formula" madukani ili kutanzua matatizo yao ya kiuchumi. Kwa kifupi: kununua ndege na kuwekeza kwenye reli ($1B alizozungumzia Kimweri) sidhani kama ilikuwa sahihi, hapa ninakubaliana na Kimweri, mosi, kwa sababu serikali haijatatua matatizo yaliyopelekea kufa kwa ndege za awali tulizokuwanazo au reli ambazo ama tujirithi kwa wakoloni au tuliyozawadiwa na Mwenyekiti Mao Tse-Tung. Matatizo ambayo hayakutokana na ukosefu wa reli au ndege, kwani tulikuwanavyo vyote (ironically) bali uongozi mbovu na usimamizi mbaya ikiwamo wizi, rushwa na ubadhirifu mambo ambayo uongozi huu unajaribu kuyarekebisha (more ironies!). Vipaumbele, kwa maoni yangu -na ndiyo maana nimetanguliza kuunga mkono hoja ya Kimweri, siyo kutumia pesa ambazo hatuna na aidha kuzitoa katika mzunguko (hizo $1B), kwa kuwekeza kwenye sekta ambazo uwezo wa kuzisimamia hatuna! Uamuzi wa Awamu hii kufanya hili ulikuwa wa kisiasa zaidi kuliko kiuchumi. Serikali haina uwezo au utaalamu wa kuendesha biashara ya ndege au reli. Tulishindwa huko nyuma na nina hakika tutashindwa tena mbele ya safari. Biashara siyo fani ya serikali hata siku moja.

Tatu, mdororo wa uchumi tunaopitia sasa hivi ni matokeo ya mipango hafifu na uhuni-uhuni uliotangua katika Awamu ya Nne, iliyopita. Japo kwa kiasi fulani, kama nilivyoaarifu hapo juu, kuna makosa ya kiufundi na vipaumbele, katika Awamu hii. Shurti ningepewa maoni kuchagua, ninadhani sasa hivi, japo tunaumia, tupo mahala pazuri zaidi kuliko awali. Uchumi sio kama chumvi ukiweka inakolea hapo hapo, ni masuala magumu na ya kimsingi ambayo yanahitaji kujiangalia kiundani na kupanga kwa kutazama uwezo, usalama, raslimali na manufaa ya nchi, majirani zetu na dunia kwa ujumla. Awali ilikuwa ni ahadi ahadi kwa wadau na washkaji njooni -watu wa diaspora! -tuwekeze mahoteli ya kufanyia warsha na makongamano! Hivi kweli, tena kwa haraka-haraka, kama kila hoteli iliyojengwa Bagamoyo ingekuwa na kumbi saba kama alivyojinasibu "muwekezaji" Slim Silim (conference facilities!), warsha na kongamano ngapi zingehitajika kumpatia faida na kulipa mikopo ya benki aliyochukua? Hapa tunazungumzia hoteli moja tu Bagamoyo, zidisha mara tano au sita hivi hapo-hapo Bagamoyo, kabla ya kwenda miji na mikoa mingine. Huo haukuwa uchumi, ulikuwa ni uchumi hewa na uwekezaji hewa. Potemkin Economies, apropos.

Mwisho, ninakubaliana nawe kwamba Raisi anahitaji washauri thabiti, wasiokuwa waoga kumwambia haya. Ninadhani nia njema na dhamira njema pia isipokuwa kukurupuka-rupuka ndiyo kunaharibu Awamu hii.
 
This is normal when Government shifts policies. So there is nothing queer man. Umsipende utajiri bil kusoma economics. Ungejua ABC za economics of the firm vis-à-vis government policy, demand, supply or technology usingekuwa unalalamika. Ni kawaida. tafuta wachumi wakusaidie coping stretegies au kuchagua the most yielding investment of the time.
Kwa taarifa yako Magufuli hana mipango yoyote ya kiuchumi , fanya utafiti , haya mambo yanatokea kwa bahati mbaya tu , s kwa sababu kuna mipango yoyote ile.

Halafu kuwa mwangalifu sana unapoweka maandiko hapa , kudhani unafahamu kuliko wengine ni dalili ya kichaa , mimi ni mfanyabiashara wa Kimataifa , hata hivi vidola kidogo mnavyoingiza humu nchini ni kwa ajili yetu , hakuna Tajiri Mbumbumbu , na hasa mfanyabiashara wa juu kabisa wa kimataifa kama mimi .

NB : mimi si mnunua vitenge China , na export bidhaa ulaya .
 
Pamoja na kuwa lengo mojawapo la hii habari pengine la weza kuwa kutuchafua huko nje na kwa wawekezaji bado ukweli utabaki palepale.

Natumia maneno yako, "uhuni uhuni" wa ahadi za serikali hasa ya awamu ya 4 kuifanya bagamoyo kuwa eneo la uwekezaji umefanya baadhi ya wananchi kupoteza raslimali zao na kuwa ingiza katika matatizo tena makubwa sana.

Kwa mfano bandari ya bagamoyo wengine tungependa kusikia serikali ya sasa imekaa mezani na China na wakaweka makubaliano ambayo ni win-win situation. Maana faida ya hii bandari ni kubwa kwa taifa. SGR inayo jengwa sasa itahitaji mizigo mingi na China ndio wauzaji wa kubwa wa bidhaa kwetu na nchi zinazo tuzunguka. Na china wangehakikisha bidhaa zinazotoka kwao zinafikia kwenye bandari hii wenye maslahi nayo.

Lakini lile eneo la uwekezaji jirani na bandari hii lingepata wawekezaji wengi na kwa wepesi kuliko hali ilivyo sasa. Wakati wa kampeni tukiambiwa mwambao wote wa bahari hakuna kiwanda cha kusindika samaki, hili lingekuwa eneo mwafaka kwa uwekezaji huo.

Lakini kama maamuzi yatafanyika kwa kuangalia ndugu wa mh Kikwete waliuza nini IFM? Hakika hatutafika huko matarajio na matamanio ya wengi yalipo. Hivi Dodoma hamna ndg wa viongozi ambao ardhi yao itatwaliwa na uwekezaji wa makao makuu?

Na elewa hekima ya Sulemani

Proverbs 20:

2. Fear an angry King as you would a growling lion, making him angry is suicide.

Sisi tunao mpenda mh Rais tutaongea ukweli hata kama unauma. Tuna amini Mungu hakumfanya kuwa Rais kwa makosa. Mh JPM ana nia nzuri/njema sana na sisi wananchi na nchi yetu. Tumsaidie kutimiza dhamira yake nzuri, ili siku moja Mungu akampe na kacheo huko mbinguni kwa kuwatumikia watu wake hapa Tanzania vizuri.

Na washawasha!




Mkuu Paskali, labda tu nikutoe mashaka. Pengine? Mengi aliyosema Kimweri ni sahihi japo kuna marekebisho ya hapa na pale, kwa maoni yangu. Ndiyo maana nimetanguliza "pengine".

Mosi, suala la wageni kuishi nchini bila vibali na kudorora kwa soko la nyumba japo ni kweli lakini haliwezi, na lisingepaswa kuwa suala la msingi katika kupanga ukuaji wa uchumi wa nchi. Raisi ni kiongozi wa mambo yote, uchumi ni moja ya mambo hayo, lakini pia kuna masuala ya usalama wa nchi, amani na hata muelekeo wa nchi. Mathalani, kama wageni hao walikuwa majambazi au magaidi au wenye-kujishughulisha na biashara haram, tulipaswa kuwaacha tu maadamu wamepanga majumba Masaki na Mikocheni na hivyo kuwaondoa nchini uchumi utadorora! Ninarudia: sina maana wageni wote walioishi nchini bila vibali walikuwa magaidi au wafanya biashara haramu, ila kimsingi hili ni moja ya masuala ambayo raisi na wasaidizi wake, pamoja na wasaidizi wa uchumi, walipaswa kuangalia -na waliliangalia, na kuona kwamba kiusalama hatuwezi kuishi na watu ambao hawakuwana vibali vya kuishi nchini. Hata huo uchumi ili ukue unahitaji usalama na amani nchini. Sidhani kama kuna nchi uchumi unakuwa katika mazingira ambayo watu wameishi tu bila kujua nani anafanya nini wapi na kwa shughuli gani.

Ukirejea mada-asili ya yule "mwekezaji wa Bagamoyo", hayo ndiyo baadhi ya matokeo yake, kwani walikuja wajanja-wajanja na kwa kutumia uhuni-uhuni kwenye mabenki wakachukua mikopo wakitarajia kwamba wataendelea kunyonya-nyonya kwa sababu hatukuwa na mipango au usimamizi thabiti wa sheria za uwekezaji, sheria za uhamiaji na usimamizi wa raslimali za nchi. Hivi fikiria tu, ingekuwaje tuchukue mikopo kama nchi kujenga bandari Bagamoyo ilhali hii ya Dar-Es-salaam imetushinda kuiendesha! Sababu zipi za kimsingi, kwa sababu tu Kiongozi mshkaji-wetu ametoka Bagamoyo? Huu ni uchumi ambao, sina neno la Kiswahili, wanauita Potemkin Economies. Uchumi, aidha uwekezaji, wa majukwaani kuonyesha show kama ya Gombesugu. Bagamoyo pazuri sana na kuna historia kubwa, ya Utumwa, lakini Bagamoyo kwa sasa hivi kama bandari haikuwa na hadhi ya nchi kuchukua mabilioni ya dollar kujenga bandari nyingine na hivyo kutuletea wawekezaji kama huyo Slim Slim! Ule ulikuwa ni uhuni na, nimeishiwa tena maneno ya Kiswahili, speculation. Hivyo, haya sasa ndiyo matokeo yake, na dawa ya mkopo lipa deni!

Pili, masuala yote mengine aliyoongea Kimweri ni sahihi japo kinadharia zaidi. Laiti kama ingekuwa rahisi kama Kimweri anavyodurusi, basi ninadhani nchi zote zingekuwa zinanunua hizo "formula" madukani ili kutanzua matatizo yao ya kiuchumi. Kwa kifupi: kununua ndege na kuwekeza kwenye reli ($1B alizozungumzia Kimweri) sidhani kama ilikuwa sahihi, hapa ninakubaliana na Kimweri, mosi, kwa sababu serikali haijatatua matatizo yaliyopelekea kufa kwa ndege za awali tulizokuwanazo au reli ambazo ama tujirithi kwa wakoloni au tuliyozawadiwa na Mwenyekiti Mao Tse-Tung. Matatizo ambayo hayakutokana na ukosefu wa reli au ndege, kwani tulikuwanavyo vyote (ironically) bali uongozi mbovu na usimamizi mbaya ikiwamo wizi, rushwa na ubadhirifu mambo ambayo uongozi huu unajaribu kuyarekebisha (more ironies!). Vipaumbele, kwa maoni yangu -na ndiyo maana nimetanguliza kuunga mkono hoja ya Kimweri, siyo kutumia pesa ambazo hatuna na aidha kuzitoa katika mzunguko (hizo $1B), kwa kuwekeza kwenye sekta ambazo uwezo wa kuzisimamia hatuna! Uamuzi wa Awamu hii kufanya hili ulikuwa wa kisiasa zaidi kuliko kiuchumi. Serikali haina uwezo au utaalamu wa kuendesha biashara ya ndege au reli. Tulishindwa huko nyuma na nina hakika tutashindwa tena mbele ya safari. Biashara siyo fani ya serikali hata siku moja.

Tatu, mdororo wa uchumi tunaopitia sasa hivi ni matokeo ya mipango hafifu na uhuni-uhuni uliotangua katika Awamu ya Nne, iliyopita. Japo kwa kiasi fulani, kama nilivyoaarifu hapo juu, kuna makosa ya kiufundi na vipaumbele, katika Awamu hii. Shurti ningepewa maoni kuchagua, ninadhani sasa hivi, japo tunaumia, tupo mahala pazuri zaidi kuliko awali. Uchumi sio kama chumvi ukiweka inakolea hapo hapo, ni masuala magumu na ya kimsingi ambayo yanahitaji kujiangalia kiundani na kupanga kwa kutazama uwezo, usalama, raslimali na manufaa ya nchi, majirani zetu na dunia kwa ujumla. Awali ilikuwa ni ahadi ahadi kwa wadau na washkaji njooni -watu wa diaspora! -tuwekeze mahoteli ya kufanyia warsha na makongamano! Hivi kweli, tena kwa haraka-haraka, kama kila hoteli iliyojengwa Bagamoyo ingekuwa na kumbi saba kama alivyojinasibu "muwekezaji" Slim Silim (conference facilities!), warsha na kongamano ngapi zingehitajika kumpatia faida na kulipa mikopo ya benki aliyochukua? Hapa tunazungumzia hoteli moja tu Bagamoyo, zidisha mara tano au sita hivi hapo-hapo Bagamoyo, kabla ya kwenda miji na mikoa mingine. Huo haukuwa uchumi, ulikuwa ni uchumi hewa na uwekezaji hewa. Potemkin Economies, apropos.

Mwisho, ninakubaliana nawe kwamba Raisi anahitaji washauri thabiti, wasiokuwa waoga kumwambia haya. Ninadhani nia njema na dhamira njema pia isipokuwa kukurupuka-rupuka ndiyo kunaharibu Awamu hii.
 
Wednesday, April 19, 2017
Agony of investor as bank auctions Sh5 billion hotel



pic+agony+of+investor.jpg

BAGAMOYO SPECIAL ECONOMIC ZONE PLAN : An aerial view of the investment plan for the new Bagamoyo City whose realisation is now in doubt as government has not shown clear intent of implementation. The delay has impcted negatively on other businesses. PHOTO|FILE


In Summary



    • The Exim Bank is auctioning Mr Slim’s luxury hotel and conference facility in Bagamoyo over his failure to repay a debt amounting to Sh900 million. The bank is asking for a reserve price of Sh2.5bn for the hotel, which Mr Slim contends is valued at about Sh5 billion. The hotel will be sold on Saturday.
  • The Bagamoyo resident’s prayer is that the hotel is sold for its true value so that he may recover some of his lifetime investment he made to establish the property.

By Alex Malanga @ChiefMalanga amalanga@tz.nationmedia.com
Dar es Salaam. For Mr Slim Slim, the next few days will be life-changing as he stands to lose an investment he set up using money he saved for over 25 years working as an expatriate in Norway.

The Exim Bank is auctioning Mr Slim’s luxury hotel and conference facility in Bagamoyo over his failure to repay a debt amounting to Sh900 million. The bank is asking for a reserve price of Sh2.5bn for the hotel, which Mr Slim contends is valued at about Sh5 billion. The hotel will be sold on Saturday.

The Bagamoyo resident’s prayer is that the hotel is sold for its true value so that he may recover some of his lifetime investment he made to establish the property.

“I also hope that the Bank of Tanzania can intervene to save investors like me from the torment that we are facing due to failed promises by the government to put in place a conducive climate to do business as promised,” he said.

Called Green Park Village, Mr Slim’s property was the dream that he carried back home after deciding to leave Norway. “I sold everything I owned in Norway and decided to come back to my country after a plea by the government for Tanzanians in the diaspora to take part in our country’s development,” he told The Citizen in an interview yesterday in Dar es Salaam.

Mr Slim is, however, not alone as several such investments in the hospitality and real estate are currently going through a rough patch in the wake of a financial crunch in the market.

Alongside the Green Park Village, Exim Bank is today also expected to auction Peninsula Apartments in Msasani for $5.2 million or Sh11.4 billion. The Citizen couldn’t immediately establish the amount that the apartment owners owe the bank. Financial institutions in the country are said to be sagging under huge non-performing loans from individuals and companies. Most banks are also not lending to bail out investors such as Mr Slim over market unpredictability even though BoT has recently taken policy measures to unlock an estimated Sh500 billion for the banks to extend credit facility to their clients.

A spokesperson at Exim Bank confirmed the lender has indeed advertised for the auctioning of the two properties after owners failed to clear their debts as agreed.

Yesterday Mr Slim, who was born in Bagamoyo 50 years ago, said he owes the bank Sh920 million for the facility located in Old Bagamoyo Town. He said he borrowed $400,000 at an interest rate of 10 per cent from the bank three years ago and failed to pay off the debt when it came due last year.

“The chunk of money that I owe the bank is not that far huge... it’s only a mere 20 per cent of the value of the property.” noted Mr Slim.

As of 2015, according to the bank’s valuation records, the value of Mr Slim’s property stood at Sh4.6 billion.

Many investors, according to Mr Slim, ran into trouble due to the unfriendly environment for investment in the country.

They include, lack of incentives, delay in completion of construction of Bagamoyo Port and Special Economic Zone in Bagamoyo, He said his investment was tied to the establishment of the port.

“I am now hurting for the sacrifice I made seven years back selling all my properties in Norway on an understanding that the investment environment in my country was attractive,” noted Mr Slim.

The man who worked and lived in Norway for 25 years lamented that the diaspora were told by the government that the Bagamoyo Port would be ready in five years but has since evaporated.

“I was optimistic that with the completion of the port I stood the chance to offer services to expatriates, importers and other users of the port.”

His investment of 20 luxury hotel rooms, seven conference facilities and two recreational centres have now turned into a source of nightmare for him.

“It is unimaginable that the property, of which I own 80 per cent, is to be auctioned just because of a mere 20 per cent owed to the bank,” he lamented, adding that he blames the government, not the bank, for his bad situation.

He said if the government was supportive to investors, it would request the Exim Bank to give him and others a grace period of at least a year to clear their debts. He also pointed an accusing finger at banks in Tanzania for their failure to refinance traders like him, saying he has requested for refinancing of the project from almost all banks in the country to no avail.

Mr Slim is also worried about a syndicate that, he claims, colludes to sell investors’ properties at throwaway prices. “I earnestly feel the central bank should have intervened in cases such as mine so that I don’t lose all the family’s lifetime savings,” he says, adding:

“This will be the fifth time my property comes up for auctioning but no credible buyers turned up during the auction… this is because investors don’t have courage to invest anymore,” he said.

He cautioned that if the government doesn’t improve the investment climate, it will scare away more other potential investors.

He said last year alone, there were five hotels he knew that closed due to poor business performance attributed to unfriendly environment for investment. He said there are 150 more hotels that have indicated they wanted to sell out of the local market.

“I am discouraged too; I neither have any other businesses nor business idea in mind to substitute my current business.” notes Mr Slim, a former employee of a construction company in Norway.

Reached for comment, Peninsula Apartments administration declined to comment on the sale of the beach front property.
KUKOPA HARUSI,KULIPA MATANGA ! UKIKOPA LAZIMA ULIPE, LONG STORIES DONT HELP !
 
“I am now hurting for the sacrifice I made seven years back selling all my properties in Norway on an understanding that the investment environment in my country was attractive,”
.Pole sana Mr.Slim,nimeumia sana!,mungu akutie nguvu na usikate tamaa.Huyo aliyekupa hicho kinacho potea ndio atakuonyesha njia nyingine ya kukipata tena hata zaidi ya hicho.God bless you Mr.Slim.
 
Inawezekana hali ya kenya haitokani na aina ya uongozi,sisi tumejitakia wenyewe,kipindi hiki kenya inaelekea kwenye uchaguzi,mara nyingi uwekezaji hupungua,sisi tumeuvuruga uchumi wenyewe na tulitakiwa tu take advantage ya matatizo ya kenya(japo ni uongo,kenya haina matatizo)
Siyo matatizo, haya mambo hayapo isolated. Banks za East Africa, hata Africa especially ndogo zimeathirika katika kipindi cha mwaka 2016/17.
Pia lazima uwe unaona mbali, ukikosea umekosea mzimamzima. Ndiyo maana ni bora ufungue hoteli wakati Bandari na Industrial complex imefunguliwa na siyo vice versa.
 
Back
Top Bottom