Bi. Senti 50
JF-Expert Member
- Apr 17, 2007
- 287
- 14
mheshimiwa mwenye kigoda, unaweza kuunganisha hii na ile mada ya "Mkapa"?
Mkapa linked to 340bn/- deal
-Ex-presidents son serves on Kiwira power company as director
-There is concern project could be another IPTL-like quagmire
THISDAY REPORTER
Dar es Salaam
THE family of former President Benjamin Mkapa has now been linked to the controversial $271.8m (approx. 340bn/-) Kiwira coal-fired power project, which government insiders say could very well turn out to be yet another expensive trap for the countrys economy.
It has now been revealed that the ex-presidents son, Nicholas Mkapa, is among the registered directors of Kiwira Coal Mine Limited (KCML).
According to official government records, the former presidents son was appointed company director on June 6, 2005, just a few months before Mkapa retired from office at the end of his second and final term.
The appointment of Nicholas Mkapa as company director came four days after Kiwiras board declared to issue 90,000 shares of 1,000/- each to the Treasury Registrar.
The government owns 30 per cent of the shares in Kiwira Coal Mine with the remaining majority shares being held by private investors.
Other records at the Business Registration and Licensing Authority (BRELA) show that Nicholas was appointed company director on the same day with Joseph Mbuna, Wilfred Malekia, Evans Mapundi and Omari Chambo, who represent government interests in the company.
The new directors replaced John Mwakipesile, Peter Gembe, Hellen Katala, Rumisha Kimambo and Asumpta Ndimbo who also resigned on the same day. Our sources say, Ms Mbuna is also closely related to the Mkapa family.
In the same month of the appointment of the ex-presidents son (June 2005), the company resolved to increase its share capital from just 120m/- to 1bn/-, thus creating 880,000 new shares.
It was resolved that the companys authorized share capital be increased from 120,000,000/- to 1,000,000,000/- by creation of 880,000 new shares. The new shares should rank parri passu with the existing shares of the company, asserted part of Kiwira companys extra-ordinary resolution papers officially filed with the government.
In the new twist of events, Kiwira Coal Mine Limited then sold 700,000 of its shares to an obscure privately-owned firm known as Tan Power Resources Company Limited.
Nicholas Mkapa was not immediately available to explain his role in Kiwira company, but THISDAY would continue to seek his comments on the matter.
Our sources say top government officials might have wielded more clout than was necessary to get the Tanzania Electric Supply Company (TANESCO) to enter into the contract with the pending Kiwira coal-fired power project in Mbeya Region.
There are now emerging reports suggesting that a big hand in government exerted undue pressure through the Ministry of Energy and Minerals for TANESCO officials to sign the contract.
At the time of the signing of the deal, TANESCO was under the management of South Africas NetGroup Solutions, which is said to have fiercely opposed some of the key contractual terms of the agreement.
Experts within the state-run power utility are now hinting strongly at supposedly serious discrepancies in the contract signed in March last year with Kiwira.
Apart from the official 20-year power purchase agreement (PPA), other pertaining documents signed by the three parties to the contract � the government, TANESCO, and Kiwira Coal Power Ltd - included a formal agreement of intent, a transmission facilities transfer agreement (TFT), and an implementation agreement.
Our sources have now disclosed that the PPAs content details give the owners of Kiwira Coal Power Ltd complete discretion to calculate future power tariffs at will - based on their own computations of final construction and production costs.
This, the sources hasten to note, could very well lead to a fall-out even worse than the infamous Independent Power Tanzania Limited (IPTL) affair of 1995, for which TANESCO is still having to pay through its nose.
- Ex-presidents son serves on Kiwira power company as director
- There is concern project could be another IPTL-like quagmire
THISDAY REPORTER
Dar es Salaam
THE family of former President Benjamin Mkapa has now been linked to the controversial $271.8m (approx. 340bn/-) Kiwira coal-fired power project, which government insiders say could very well turn out to be yet another expensive trap for the countrys economy.
It has now been revealed that the ex-presidents son, Nicholas Mkapa, is among the registered directors of Kiwira Coal Mine Limited (KCML).
According to official government records, the former presidents son was appointed company director on June 6, 2005, just a few months before Mkapa retired from office at the end of his second and final term.
The appointment of Nicholas Mkapa as company director came four days after Kiwiras board declared to issue 90,000 shares of 1,000/- each to the Treasury Registrar.
The government owns 30 per cent of the shares in Kiwira Coal Mine with the remaining majority shares being held by private investors.
Other records at the Business Registration and Licensing Authority (BRELA) show that Nicholas was appointed company director on the same day with Joseph Mbuna, Wilfred Malekia, Evans Mapundi and Omari Chambo, who represent government interests in the company.
The new directors replaced John Mwakipesile, Peter Gembe, Hellen Katala, Rumisha Kimambo and Asumpta Ndimbo who also resigned on the same day. Our sources say, Ms Mbuna is also closely related to the Mkapa family.
In the same month of the appointment of the ex-presidents son (June 2005), the company resolved to increase its share capital from just 120m/- to 1bn/-, thus creating 880,000 new shares.
It was resolved that the companys authorized share capital be increased from 120,000,000/- to 1,000,000,000/- by creation of 880,000 new shares. The new shares should rank parri passu with the existing shares of the company, asserted part of Kiwira companys extra-ordinary resolution papers officially filed with the government.
In the new twist of events, Kiwira Coal Mine Limited then sold 700,000 of its shares to an obscure privately-owned firm known as Tan Power Resources Company Limited.
Nicholas Mkapa was not immediately available to explain his role in Kiwira company, but THISDAY would continue to seek his comments on the matter.
Our sources say top government officials might have wielded more clout than was necessary to get the Tanzania Electric Supply Company (TANESCO) to enter into the contract with the pending Kiwira coal-fired power project in Mbeya Region.
There are now emerging reports suggesting that a big hand in government exerted undue pressure through the Ministry of Energy and Minerals for TANESCO officials to sign the contract.
At the time of the signing of the deal, TANESCO was under the management of South Africas NetGroup Solutions, which is said to have fiercely opposed some of the key contractual terms of the agreement.
Experts within the state-run power utility are now hinting strongly at supposedly serious discrepancies in the contract signed in March last year with Kiwira.
Apart from the official 20-year power purchase agreement (PPA), other pertaining documents signed by the three parties to the contract the government, TANESCO, and Kiwira Coal Power Ltd - included a formal agreement of intent, a transmission facilities transfer agreement (TFT), and an implementation agreement.
Our sources have now disclosed that the PPAs content details give the owners of Kiwira Coal Power Ltd complete discretion to calculate future power tariffs at will - based on their own computations of final construction and production costs.
This, the sources hasten to note, could very well lead to a fall-out even worse than the infamous Independent Power Tanzania Limited (IPTL) affair of 1995, for which TANESCO is still having to pay through its nose.
Muungwana naye mahesabu yake ni hayo hayo!! Sasa unategemea nini??