Revealed: Who got paid the Sh201bn escrow cash

[n00b]

The $122 million (Sh201 billion), which was at the escrow account held at Bank of Tanzania (BoT), was transferred to Pan Africa Power Solutions (Tanzania) Ltd (PAP) account between November 28 and December 8, last year, The Citizen can reveal today.

This revelation comes at a time when Standard Chartered Bank, Hong Kong (SCB – HK), through its lawyers, has given Tanzania Electric Supply Company (Tanesco) a 30-day ultimatum to re-deposit the money into the account or else face legal consequences.

An escrow account is a financial instrument held by a third party on behalf of other two parties in a transaction. The funds are held by this kind of account until it receives the appropriate written or oral instructions or until obligations have been fulfilled.

Contrary to claims by the ministry of Energy and Minerals that the escrow monies were paid to Independent Power Tanzania Ltd (IPTL), The Citizen has reliably established that the $122 million was actually paid to PAP.

PAP is the company that has acquired IPTL by using the escrow funds in a deal that has been queried by some legal experts, who are wondering how a once liquidated company became the assignee, and assigned its shares to a new investor.

According to details gathered by The Citizen, which are also corroborated by official correspondence from the BoT to the Treasury, the agreement to release the escrow billions was signed on October 27, 2013.

In a letter dated December 19, 2013, BoT deputy governor responsible for administration and internal controls, Mr Juma Reli, wrote: “Invoking the provisions of Articles 7.7 of the Agreement, GOT and IPTL executed an agreement for delivery of the escrow funds to IPTL…the agreement for delivery was signed on October 27, 2013, pursuant to which the bank was instructed to release the escrow fund.

In a letter directed to the permanent secretary of the ministry of Finance, Dr Servacius Likwelile, Mr Reli, further writes: “The funds together with un-matured investments in treasury bills were dully transferred to IPTL on November 28, 2013 and December 5, 2013.”

“In view of the foregoing, we hereby request you to order the closure of the escrow account…simultaneously we wish to kindly inform you that with effect from December 5, 2013 when the last transfer was effected, the Bank has been duly discharged from its role and obligations as an escrow agent with respect to Power Purchase Agreement between IPTL and Tanesco.”

Though the BoT says it transferred the escrow funds to IPTL, the affidavit sworn by James Rugemalira, managing director of VIP Engineering and Marketing Ltd, served at the High Court on January 8, this year, state that the money was paid to PAP.

VIP Engineering and Marketing Ltd was a Tanzania company that owned 30 per cent shares in IPTL until it allegedly sold its stakes to PAP at the cost of $65 million (Sh129 billion)—the income he described last week as “just few cents for tobacco.”

Just a day after the BoT letter, the government chief legal counsel, Attorney General Justice Frederick Werema, wrote to Hunton and Williams LLP, a US law firm representing Tanesco, stating: “This letter (BoT letter) is instructive…it may be helpful to any measures that you may wish to pursue on behalf of your client.”

Ministry’s contradictory versionIn another development, the ministry of Energy and Minerals issued two conflicting communications last week, in a bid to defend what transpired between IPTL, Tanesco and Pan Africa Power Solutions (PAP).

Last week, the director of Communication at the ministry, Ms Badra Masoud, issued a clarification advert after our sister paper, Mwananchi, published a story saying Tanesco was on the brink of bankrupt, following the judgment delivered by the Washington-based tribunal, International Centre for Settlement of Investment Disputes (ICSID) tribunal.

In the advert, the ministry says following the order by ICSID tribunal, Tanesco was in the process of initiating discussions with Standard Chartered Bank, Hong Kong (SCB-HK) to find an applicable formula to recalculate capacity charges as well as power tariff.

It is hence obvious that the government and Tanesco understand the involvement of SCB-HK in the multi-billion power deal that has made the headlines in the country for 19 years. The advert confirms that the government fully understands the jurisdiction of the ICSID tribunal.

But, on Friday, the minister for Energy and Minerals, Prof Sospeter Muhongo, posed a question to Mwananchi newspaper: “Are we governed by US laws?

Prof Muhongo either believes ICSID operates according to US laws or has no jurisdiction over the government of Tanzania. The minister seemed to contradict an announcement from his ministry, which confirms and recognises the jurisdiction of ICSID tribunal.

Investigation by The Citizen has also established that on February 13, 2014, the permanent secretary in the ministry of Energy and Minerals, Mr Eliakim Maswi’ trashed SCB-HK demands, saying the bank wasn’t party to the long-standing dispute between IPTL and Tanesco.

In his later dated February 13, this year with reference number CBD.88/417/01/25, directed to Mr Joseph Casson of SCB-HK, Mr Maswi writes: “We have carefully studied the contents of the letters…it surprises to see that the SCB-HK, which neither a party to the Power Purchase Agreement (PPA) nor to the Implementation Agreement (IA) alleges the breach by the government of Tanzania or Tanesco.”

Mr Maswi further writes: “The GOT believes that SCB (HK) is quite aware that it lacks locus standi to claim, pursue, and or require a part or parties to the said agreement to undertake any associated requirements as it is not a party to the agreements.”

The letter, which was also copied to AG concludes: “In view of the above, the GoT does not see a necessity to meet and discuss any steps in relation to the alleged defaults for mitigation purposes and its subsequently discourages SCB (HK) from raising any matter against the GOT in relation to the PPA and IA.”

It is not clear why Mr Maswi chose to respond to a letter that was directly directed to Tanesco and simply copied to the ministry of Energy and Minerals.

But as both the minister and permanent secretary claim that SCB-HK is not an interested party to the IPTL-Tanesco dispute, the statement from the same ministry and available documents obtained by The Citizen proves the opposite.

Who is scb-hk in this dispute?

To finance its power project in Tanzania in 1995, IPTL borrowed heavily from Malaysian lenders. Its loan was originally subscribed with a consortium of Malaysian lenders who in 2005 sold the loan to SCB HK.

According to details gathered by The Citizen, the financial assumptions were that the projected cost was $163.5 million; the debt/equity ratio was at 70 per cent senior debt and 30 per cent equity; the amortisation for the 70 per cent senior debt was at 7 years (later changed to 8 years in 1998) and the internal rate of return on equity was 23 per cent (later corrected to 22.31 per cent by agreement of the parties after the ICSID 1 award).

Presently, SCB-HK, is the senior debt lender to IPTL, whereby it is owed $145 million (Sh234.465 billion). SCB-HK subsequently held a number of settlement and restructuring discussions with Tanesco and its counsel, Mkono & Co and Hunton & Williams.

The discussions focussed on ways to restructure the project and facilitate the settlement of creditors’ claims from the Tegeta escrow account and future operating cash flows.

On February 14, this year, ICSID ruled: “The present case, SCB HK is entitled to recover the tariff payments due during the period when the plant was being operated by the provisional liquidator, which will include capacity charges and bonus payments, less the amount that covered the operation and maintenance of the plant that was expenses not incurred by IPTL in whose shoes the bank stands.”

SCB-HK lawyer warn

Amid claims by the ministry that no breach has been committed with regard to escrow account, the lawyers representing SCB-HK, have warned that following the transfer of funds from the BoT to PAP, the state-owned power utility is indeed in default of its obligation.

In a letter written to Tanesco and copied to the ministry of Energy and Minerals, SCB-HK lawyer, Mathew Weiniger writes: “We have seen the affidavit sworn by James Burchard Rugemalira served by VIP on January 8, 2014 in proceeding in the High Court of Tanzania…If Mr Rugemalira’s evidence is correct, it would appear that the funds formerly held in escrow account for Tanesco’s payments obligations under the PPA have been released to a third party, Pan Africa Power Solutions (T) Ltd.”

Mr Weiniger further writes: “Accordingly, Tanesco is currently in default of its obligations under articles 6.6 and 6.8 (b) of the Power Purchase Agreement (PPA)…on behalf of SCB (Hong Kong) Ltd as assignee of the PPA, we hereby demand that Tanesco provides security for its payments obligations as soon as possible within 30 days by providing a letter of credit, or making payment into escrow in an amount equivalent to at least 2 months capacity charges and energy payments.”

 

[Toosweet]

Wakati akichangia makadirio ya Ofisi ya Waziri Mlkuu,Mbunge wa Kigoma Kusini Mh.David Kafulila aliliambia Bunge juu ya kucotwa kwa fedha zilizokuwa kwenye akaunti ya Escrow iliyokuwa ikitunza fedha zaserikali na IPTL,Kampuni iliyokuwa ikiiuzia Umeme TANESCO kwa bei ya ajabu.TANESCO na IPTL walikuwa na kesi ambayo ilikuwa haijatolewa uamuzi.
Kuna kashfa nyingi za wizi wa mabilioni ya shilingi:EPA,DEEP GREEN,KAGODA,Rada na nyingine zinazohusu wizi wa fedha za miradi ya Halmashauri zilizo chini ya Ofisi wa Waziri Mkuu.Hakuna wezi wanaokamatwa wala kuchukuliwa hatua.Kwa nini?Wezi hawajulikani.Hawajulikani kwa sababu TAKUKURU ni moja ya Taasisi dhaifu zisizoweza kukamata wezi wakubwa ila wadogowadogo.Tanzania ni nchi pekee Duniani ambapo kuiba fedha za serikali ni sifa,ukiiba unaheshimiwa na kuogopwa.Fedha zilizoibiwa Escrow ni nyingi.Nina wasiwasi kama serikali ina nia kweli ya kukamata wezi.Kwa nini kuunda Tume wakati wezi wamebainishwa?

 

[jogi]

tukumbushe majina ya hao wezi, manake wengine hatujayasikia bado.

 

[Mzanzibar Halisi]

Hao tabia zao zilezile hata uwaseme vipi wizi kwao ni jadi.kina Lowassa mpk leo bado wapo na wanataka urais wakati tunajuwa kama alikuwa mwizi wa Richmond.nchi hii pasua kichwa tayari tushaliwa kilichobaki ni maelezo baada ya habari Mungu peke yake ndie atalipa ili kwa sisi Wananchi kazi bure hata kifo cha mgimwa tunahisi hizi bil 200 ndio sasa ya kutolewa uhai wake CCM wezi sana bora tubadilishe upepo kwenye uchaguzi ujao na tena tunataka tume huru ya uchaguzi maana mtatumaliza kwa wezi wenu hata mlitaka kutuibia kwenye line za simu 1000 kila mwezi tumechoka CCM ukoo wa panya huu kila mtu mwizi mmezidi michepuko hamuwezi kubaki njia kuu.

 

[FRANCIS DA DON]

Nasikia eti kuna billioni 200 za akunti ya escrow sijui zimeibiwa.., sasa ambacho sielewi hao APA wamezichota kivipi.., walivunja benki kuu na magobole wakaiba au wamefanyaje fanyaje manake sielewi alafu kila mtu anaongelea juu juu tuu.., em' tueleweshane kiundani basi..

 

[duanzi]

zimeyeyuka kama ndege ya malaysia

 

[BONGOLALA]

CCM imechukua pesa za Tanesco zilizokuwa BOT kwa ajili ya kuilipa kampuni ya IPTL.CCM ikala deal na mmoja wa mbia wa IPTL VIP ya mzee wa Heineken bila kumshirikisha mbia mkuu kampuni ya malaysia wakachota pesa.Sasa mbia mkuu kaja juu na bado ana kesi na Tanesco.Na hiyo VIP imeshauza hisa zake kwa PAP

 

[BONGOLALA]

zimeyeyuka kama ndege ya malaysia

Hayo ndiyo huwa majibu rahisi kwa wana ccm ktk mambo ya msingi matokeo wananchi wanazidi kuwa masikini

 

[mtafitimakini]

Chezea CCM wewe

 

[Voli kitoki]

Mbona ni vijisenti tu hivyo?

 

[bitimkongwe]

Alivyojisemea mzee wa Heineken hizo ni hela za ugoro.

 

[FRANCIS DA DON]

Alivyojisemea mzee wa Heineken hizo ni hela za ugoro.

Alaaa..! kumbe ndio yule mbwa wa vijipesa vya ugoro..??!!

 

[bitimkongwe]

Francis Da Don usimseme mzee wa watu namna hiyo siyo vizuri, inawezekana watoto wake wamo humu hawatajisikia vizuri.

Lakini kwa suali lako ndiyo hivyo vijihela vya ugoro vimetokea kwenye hiyo escrow account.

 

[Chivundu]

Muulize mwigulu ndiye signatory.

 

[FRANCIS DA DON]

Francis Da Don usimseme mzee wa watu namna hiyo siyo vizuri, inawezekana watoto wake wamo humu hawatajisikia vizuri.

Lakini kwa suali lako ndiyo hivyo vijihela vya ugoro vimetokea kwenye hiyo escrow account.

Mbona unaleta utetezi wa ki-mbwa kabisa!!.., yaan watu wengine wanakufa kwa kukosa elfu 10 ya kununua dawa ya malaria.., halafu anakuja mbwa anasema bilioni 200 walizoiba ni vijipesa vya UGORO...???!! YAANI UGOROOO..??!!!! UGORROOOO.., yaani hata sio sigara bali UGOROOOO!! Bilioni 200 ni pesa ya UGOROOO.., utasema huyo sio mbwaa........???!!!!!!!!!!!!

 

[jme]

KASHFA ya ufisadi wa dola za Marekani milioni 122 (sawa na sh. bilioni 200) katika akaunti ya Escrow ya Benki Kuu ya Tanzania (BoT), imewaweka njia panda vigogo wa Serikali wanaotuhumiwa kuhusika kufuja fedha hizo, na sasa baadhi yao wamefikia hatua ya kutajana kama njia ya kukwepa mkono wa sheria.

Hatua hiyo, inatokana na mataifa makubwa yanayoifadhili Tanzania hususani katika sekta ya nishati ikiwemo serikali ya Uingereza, kufuatilia sakata hilo kwa ukaribu ili kuhakikisha ukweli unapatikana.

Katika kujaribu kuvuruga mjadala wa kashfa hiyo, wiki iliyopita ulisambazwa ujumbe mfupi wa maandishi kwenye simu za baadhi ya wabunge, ikimtuhumu mbunge wa Musoma mjini, Nimrodi Mkono (CCM) na Balozi wa Uingereza hapa nchini kuwa wanatembeza rushwa kwa wabunge ili wasiipitishe bajeti ya Wizara ya Nishati na Madini.

Hata hivyo, ujumbe huo ambao baadhi ya wabunge walidai kutumiwa na Waziri wa Nishati, Prof. Sospeter Muhongo, uliibua mgongano makali huku akitakiwa kuthibitisha tuhuma hizo kwa madai kwamba imekuwa kawaida yake kuzua uongo wa tuhuma za rushwa kila wizara yake inapobamwa.

Nao Ubalozi wa Uingereza nchini, umekanusha vikali tuhuma za kuhusishwa na mkakati wa kuwahonga wabunge ili wakwamishe bajeti, ukisema hauna sababu ya kufanya hivyo, japo wanafuatilia kwa umakini kashfa hiyo ili kuhakikisha ukweli unawekwa wazi.

Katika mbinyo huo, Tanzania Daima limedokezwa kuwa, tayari baadhi ya vigogo wanaotuhumiwa wameanza kujinasua huku kila mmoja akimnyooshea kidole mwenzake, akidai ndiye alihusika.
"Hali imekuwa tete, kila mmoja anajaribu kujinasua. Yuko waziri ameamua kumtosa katibu mkuu wake akidai ndiye alihusika kwa kushirikiana na ofisi ya mtuhumiwa mwingine (anamtaja) na kwamba yeye anaonewa kwa kuingizwa katika tuhuma hizo.

"Pia kuna kigogo mwingine ambaye katika kutaka kuzima sakata hili ameamua kutembeza fedha kwenye baadhi ya vyombo vya habari ili viache kabisa kuandika habari inayohusiana na kashfa hii au visafishe wizara yake,"kilidokeza chanzo hicho.

Pia kashfa hiyo inadaiwa kuitikisa zaidi Wizara ya Nishati na Madini ambapo baadhi ya watu wasiofahamika kutoka ndani ya wizara hiyo, wamekuwa wakisambaza ujumbe kwenye mitandao ya kijamii, wakidai Mwenyekiti Mtendaji wa IPP, Regnald Mengi na Mkono ndio wanaeneza kashfa hiyo kwa lengo la kuwachafua Waziri Sospeter Muhongo na Katibu mkuu wake, Eliakim Maswi.

Kashfa hiyo iliibuliwa bungeni na mbunge wa Kigoma Kusini, David Kafulila (NCCR-Mageuzi), akiwataja vigogo sita wa serikali wakiwemo mawaziri kadhaa aliyodai wamehusika na ufisadi wa fedha hizo zilizokuwa zimewekwa katika akaunti ya Baraza la Usuluhishi la Migogoro ya Kibiashara (Escrow) BoT.

Kafulila aliwataja Waziri Muhongo, Maswi, Waziri wa Fedha Saada Mkuya, Gavana wa Benki Kuu ya Tanzania, Prof. Beno Ndullu, Mwanasheria Mkuu wa Serikali, Frederick Werema na Mkurugenzi Mkuu wa Tanesco, Mhandisi Felchesmi Mramba.

Licha ya Waziri Mkuu, Mizengo Pinda kuagiza Mdhibiti na Mkaguzi Mkuu wa Hesabu za Serikali (CAG) na Taasisi ya Kuzuia na Kupambana na Rushwa (Takukuru) kuchunguza suala hilo, Kafulila na wadau wengine wanataka iundwe Kamati Teule ya Bunge kwa kuwa linagusa mamlaka kubwa katika dola.

Ujumbe ambao unasambazwa kwenye simu za wabunge sasa unasomeka hivi; "Mhe Spika wa Bunge la Jamhuri ya Tanzania. Sisi wabunge waadilifu tunakiri kwamba mhe Mkono ametufuata na kutupatia fedha kila mmoja milioni 3 ili tukwamishe Bajeti ya Wizara ya Nishati na Madini. Yupo hapa Dodoma anagawa fedha.

"Ametueleza kwamba tukifanikiwa, Balozi wa Uingereza atatuongezea sh milioni 5 kila mmoja. Balozi anapigania kesi ya IPTL na Standard Chartered ya UK. Mwanasheia wa Benki hiyo ni rafiki wa mhe Mkono. Waadilifu".

Tayari Mkono amekiri kuwa amelalamika kwa Spika wa Bunge, Anne Makinda na kwamba amemwachia ashughulikie suala hilo.

Serikali ya Uingereza nayo kupitia kwa Balozi wake hapa nchini inafuatilia kwa ukaribu sakata hilo ambapo imetishia kusitisha msaada wa Euro milioni 71 kwa Tanzania ambao unalenga kuinua sekta ya umeme hadi ukweli uwekwe wazi.

Ni wazi kuwa Prof. Muhongo atakuwa kwenye mgogoro mkubwa na Bunge kwani itakumbuka kuwa Julai 28 mwaka 2012, wakati akihitimisha mjadala wa bajeti ya wizara yake, aliwatuhumu baadhi ya wabunge kuwa walihongwa na makampuni ya mafuta ili kukwamisha bajeti yake.

Waziri Muhongo alitoa tuhuma hizo baada ya kubanwa pamoja na Katibu Mkuu wake, wakituhumiwa kutoa zabuni kinyemera kwa Kampuni ya Puma Energy ya kuiuzia Tanesco mafuta mazito.

Prof. Muhongo alidai kuwa Tanesco ilinunua misumari kwa pauni 50,000 badala ya spea. Kwamba baadhi ya wabunge wakiwamo wale wajumbe wa Kamati ya Kudumu ya Bunge ya Nishati na Madini wanafanya biashara na Tanesco, ambapo kampuni ya mbunge mmoja ililiuzia shirika hilo mataili mabovu.

Hata hivyo, Kamati ya Haki, Maadili na Madaraka ya Bunge iliyochunguza tuhuma hizo, ilithibitisha kwamba hakukuwa na jambo kama hilo isipokuwa Waziri Muhongo alisema uongo.
Kashfa hiyo ya Escrow huenda ikakipa taabu na hata kuking'oa madarakani Chama Cha Mapinduzi (CCM) kama ilivyotokea kwa chama tawala cha KANU cha nchini Kenya mwaka 2002.
Mmiliki wa Kampuni ya PAP inayodai kuinunua Kampuni ya IPTL yenye mgogoro na Tanesco, Habinder Singh Sethi anatajwa kuhusika katika kashfa kubwa ya ufisadi nchini Kenya ya Goldenberg, uliogharimu takribani dola milioni 600.

Ufisadi huo pia ulihusisha mahakama, watendaji, viongozi na wanasiasa wakubwa nchini humo, ikiwemo familia ya aliyekuwa Rais wa wakati huo, Daniel Arap Moi.
Akaunti hiyo ilifunguliwa mwaka 2004 kutokana na mgogoro wa kibiashara kati ya IPTL na Tanesco ambapo Tanesco ilipeleka shauri hilo kulalamikia gharama kubwa wanazotozwa na IPTL.

PAP inadai kuinunua IPTL kutoka kwa Merchar iliyokuwa ikimiliki asilimia 70 ya hisa na VIP iliyokuwa na umiliki wa asilimia 30.


chanzo: Tanzania daima

 

[OLESAIDIMU]

Ni mwanzo mzuri

 

[Tetty]

Wache wale ila kitu kimoja tu wakumbuke,wakitumbukizwa kwenye lile shimo hawaendi nazo,zinabaki wadudu wanazigombea.

 

[Communist]

Mbona msururu wa majina ni mrefu sana. Hao waliotajwa ni kondoo wa sadaka.

 

[Zogwale]

Mobutu Seseseko aliiba weee, utajiri weeee madhahabu weeee. Aliifanya Mungu mtu wa mali na fedha ila alikufa na kuzikwa mithili ya mbwa pendwa!!!! Tuishi kwa kujifunza kupitia kwa wenzetu. Tanzania jua iko siku hawatakubali kuona haya yakitendeka, kila mtu ataungama kwa wakati wake. Iko siku mabadiliko ya kweli yatatokea.