Zitto amtwanga barua Balozi Mwapachu

[Josephine]

Hii barua inamaanisha kuwa sisi Watanzania tukiongozwa na Zitto Kabwe tunamuomba Balozi Mwapachu atufanyie ihsani kwa kufanya makusudi kupunguza mapato ya mwajiri wake au kubadili mikakati ya kampui ili Tanzania tufaidie?
Kwa nini nchi nzima itegemee hisani ya mtu mmoja kufaidia rasilimali zake badala ya kutumika sheria?






Zitto anasema "this isn't the spirit behind the Mining act.....and ABG was supposed to..." Is "the spirit" legally binding? or are we waiting for the goodwill of the people of ABG to get into the spirit and uphold our own law?
And when he went "I think", does it mean he is not confident of what he is saying that's why he didn't (couldn't) elaborate on the law which brings the 15% supposition he made?




And now he is teaching ABG to do their job so as not to face the wrath of the government but it gets me to wonder, if the government has a right why doesn't it go and take it so we can all stop relying on the goodwill of the Balozi?

naugana na wewe kwa uliyonena

 

[marejesho]

[I doubt if Zitto is 100% clean QUOTE]

Luke 18:19b
Hakuna aliye mwema ila mmoja, naye ndiye MUNGU

 

[arabianfalcon]

I doubt if Zitto is 100% clean

Choyo hakijengi unajengine au ni hilo tuu?

 

[laun]

I doubt if Zitto is 100% clean

Tukisubiri kujikosoa makosa yetu yote kabla ya kuwakosoa wengine ,sote tusingeongea kabisa.

 

[Chakunyuma]

tutaibiwa mpaka tutakapoamua kuchukua hatua.

 

[Ndinani]

Ndugu zangu hizi hisa za Barrick ni za institutional investors na sio sisi makabwela; kabwela ukinunua hizi hisa itakula kwako kwa sababu kwa muda mrefu sasa policy ya Barrick gold ilikuwa HEDGING which means faida ya bei nzuri ya dhahabu hawapati hawa watakaoinvest sasa bali wale walionunua hiyo dhahabu awali kwa bei ya chini na sasa wanafaidi kuuza dhahabu kwa bei ya JUU!! For long term investors pengine inaweza kulipa baada ya miaka fulani!! Small investors keep away from Barrick!!Whoever thinks Juma Mwapachu is in the Barrick Gold board to safeguard our national interests should have his head examined!!

 

[Bajabiri]

Sijaona tija toka kwa minin kampaniz

 

[Ben Saanane]

I doubt if Zitto is 100% clean

Hallucination?

 

[Wanji]

I doubt if Zitto is 100% clean

Are you 100% clean?

 

[mgomba101]

cha msingi ni kufanya kama botswana kufuta leseni zote za madini na waanze upya kuomba leseni.then tuanzishe regulator wa kusupervise na ku audit financial statements za haya makampuni ya madini.zito atuambie mapendekezo yote ya kamati ya bomani yalifanyiwa kazi,kwa sababu ile kamati ilitumia fedha nyingi za walipa kodi wa nchii hii kulipana posho.

 

[mgomba101]

naungana na wewe,,this is not a final solutions for our mining sector,we must establish a rugulator to supervise and regulate this sensitive sector for our economy,kamati ya jaji bomani ilitumia fedha nyingi za walipa kodi wa nchii hii kulipana posho,zito atuambie alipata posho kiasi gani kwenye ile tume??

 

[Kiraka]

inahusiana vipi na habari hii?????

Ndumu kaka!!!

 

[Ndachuwa]

The way I understand how double taxation works is that if corporate tax of Tanzania is higher than that of UK; ABG would have paid corporate tax in Tanzania only. On the other hand if our corporate tax is less than UK; in UK corporate tax would be calculated using UK rate but the liability to be paid in UK will be tax calculated using UK rate less tax paid in Tanzania.

What I dont understand is how three individual companies will end up in taxable losses in Tanzania BUT when consolidated in UK end up with huge profit that warrant payment of dividends. I would expect TRA to go further by re-consolidating individual companies making up ABG and compare with annual report found in LSE.

 

[Borakufa]

Tutapiga kelele hapa lakini kama hatutumia forum hii kwa kuchukua hatua tunapoteza muda tu!! wachache wetu tunafahamu kila kibaya kinachafanyika kila kukicha ni ajabu tunaleta thread muhimu hapa tunabaki kuchaingia tu na kuonyesha hisia zetu halafu basiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii!
Tutaliwa mpaka tukome! we must wake up bana hii forum iwe ni tunafanya nini si kupiga kelele ala!:embarassed2:

 

[Adrian Stepp]

Zitto ni PR wa Barrick siku nyingi. Anajitahidi watz tuwapende mbona hajaandika barua kulaani mauwaji yanayofanywa na BARRICK.? Anaonyesha turnover, je? Zitto kwani haonyeshi kodi wamelipa sh. Ngap? Ok jimbon kwa Zitto Barrick wamechangia miradi mingap? Na kwanini iwe kigoma ambako hakuna hata mgodi. Well, damu za watz zinazomwagwa na Barrick Zitto hautatoka. Binafsi sitoweza kununua hisa ya kampuni madini ya damu, chini ya mgondi kuna watanzania wenzetu walizikwa hai. Barua hii ya Zitto ni mkakati wa kuisafisha bariki.

si kweli, PR wa Barrick ni Teweli Teweli kabla ya Teweli ambae amekaa Barrick for almost 4 years now alikua ni Sauda Simba Kilumanga, sasa huo u PR kauanza lini?? sema zitto ni mtu wa karibu sana na barrick na hata alipokua kwenye kamati ya rais alikua analipwa pesa ya siku na barrick (sijui kulikua na uhusiano upi) na niliwahi mshuhudia akilamba mil.1 kwenye bata hivi hvi mwanza huko na akmpigia PR wa barrick akataka aongezwe pesa. .

 

[Nyunyu]

Dear Balozi,

I send my congratulatory message following the bold step by the Country’s leading exporter to trade its shares at Dar Bourse(DSE). It is an opportunity for Tanzanians to own part of this lucrative business and individually benefit from it. I have some issues that I would like to raise for your attention. I am using the opportunity in your capacity as Board of ABG to air my concerns. I understand that crosslisting of ABG shares at DSE has been a dream of many Tanzanians working with the company. I personally in 2009 intervened and asked BoT to relax the capital account and allow Tanzanians to buy ABG shares during its IPO in London. Crosslisting is thus welcome and encouraged. Below is a list of issues (which makes me have genuine reservations) about the move.

1. In 2010 (from its prospectus) ABG had a turn over of $975m, EBITDA of $419m and a Net Income of $218m. As a result of that performance it declared dividend of $3.7 per share. I later learnt that ABG posted an incmoe tax expense of $86,471,000. However TRA did not receive this revenue as a corporate tax from ABG, thus this was definately not paid at source due to a fact that ABG resides in London. You will take a strong note that WHILE all ABG operations are in Tanzania,it is Her Majesty(HM) Revenue collecting its corporate tax. ABG has designed Tanzania (Dar) as a logistics Office while J’burg is largely procurement office and London HQ. This structural design is one of the ways Multi National Corporations(MNCs) use to minimise tax payments to developing countries. The source – Domicile method is used by many tax avoiders and it is really causing alot of stress to governments in LDCs. You will as well note that while ABG declares profit in London, pays dividends and even corporate tax at domicile, no single ABG subsidiary in Tanzania declared profit and paid corporate tax in 2010. Bulyanhulu Goldmine (Kahama Mining ltd), NorthMara Goldmine ltd and Pangea Minerals (owning Tulawaka and Buzwagi) all didn’t pay corporate tax in Tanzania in 2010, but ABG posted an income tax expense as shown above. From my knowledge of International Taxation, it seems ABG is enjoying a Double Taxation Treaty (DTT) between Tanzania and UK which is unfair in all measures. I am kindly asking you Balozi to consider this matter and raise it in your Board meetings so that ABG either relocate to Tanzania as its HQ or subscribe to a system whereby it pays its corporate tax at source rather than at domicile (with 5 officials only).
2. I read from The Citizen and DailyNews that you raised the issue of wider benefits and that ABG brought back to Tanzania more that $540m as wages and salaries and other costs. I totally agree with your views of gross benefits (jobs, skills transfer etc) and looking at things in a bigger picture rather than just Government Take Statistic (Royalties, Taxes and other fees). However we must balance the two as the Government has a duty to provide for its citizens including the companies themeselves. These are Public goods like Defence, Law and order as well as infrastructural development, and Merit goods like Health, Education and even social security. Therefore focus on Government Take statistic is as crucial as Gross benefits. I understand that ABG is one of the largest contributor to NSSF. But we shouldnt close our eyes on the importance of government Revenue. I kindly ask you to understand when some of us repeatedly raise this issue. It doesnt mean i belittle the bigger picture NO as i am big fun of linkages approach of looking at mining sector and its contribution to our economy.
3. From 7th December, ABG will start trading at DSE as a crosslisted company. 24% of the shares of ABG held by individuals and institutions will be traded locally, ofcourse at LSE prices. This doesnt mean Tanzanians will be buying some slice of ABG from itself but from investors owning the shares now. This isnt the spirit behind the Mining Act 2010 which aim at having part of the company to be owned by Tanzanians. I think ABG was supposed to sell atleast 10% of its shares to Tanzanians (reducing the shareholding of BarrickGold Corporation from 76% to 66%). You might argue that the market wouldnt absorb this amount but ABG could do a private placement to Tanzania’s institutional investors like Pension Funds and even Unit Trust of Tanzania. Let Tanzanians buy the shares traded at LSE as they wish (ofcourse we are a free market country) but strategic shares sell to Tanzanian institutions (on behalf of the people) shall be explored. I kindly ask that ABG does this for its gesture to be meaningful. I will be shocked and saddened if Pension Funds will buy ABG shares to be crosslisted. I think ABG should engage our institutional investors through a private placement of 10% from shares held by BarrickGold Corporation in addition to crosslisting. This is good for ABG as i must remind you that according to the Mining Act 2010 the Government has the right to own up to 15% of each company and for ABG it will be a big trouble as the government will treat all subsidiaries separately and not as ABG. In real sense there is no ABG in Tanzania but Bulyanhulu Goldmine ltd, NorthMara Goldmine ltd and Pangea Minerals ltd. A strategic private placement by ABG to institutional invetors will place it on upperhand when the government decides to enforce the new law and this will be very soon.

I have written to you believing You are one of the Tanzanians highly trusted and with credibility to effect changes to our country. I hope you will take note of my views, weigh them and take forward the ones you think are relevant. We must together answer this paradox: A Rich Country with Poor People. It is very clear to me that mining sector will not alone end all poverty we have in Tanzania, but its contribution to poverty reduction is massive.


Zitto

CHANZO: An Open letter to Balozi Mwapachu on ABG crosslisting « Zitto na Demokrasia

Katika nchi zilizokuwa makini, huwa wanapeleka watu wao nje kusoma in good business schools!! Ikiwezekana wana-lobby na kazi nzuri ambayo itawawezesha kuelewa haya mambo ki undani halafu wanatrudi kwao kulinda na kujenga nchi!!!

Haya yalikuwa ni mambo ambayo yalipaswa kuwa-ear marked kwenye mkataba right kabla hatujafika huku!!! Sisi kila kiyu ni suprise tu, kila kitu hatukujua kama itakuwa hivi.....

Thank you Zitto for this! KAzi iliyobaki ni kuwaanika tu mchana kweupe!!

 

[Nyunyu]

Zitto ni PR wa Barrick siku nyingi. Anajitahidi watz tuwapende mbona hajaandika barua kulaani mauwaji yanayofanywa na BARRICK.? Anaonyesha turnover, je? Zitto kwani haonyeshi kodi wamelipa sh. Ngap? Ok jimbon kwa Zitto Barrick wamechangia miradi mingap? Na kwanini iwe kigoma ambako hakuna hata mgodi. Well, damu za watz zinazomwagwa na Barrick Zitto hautatoka. Binafsi sitoweza kununua hisa ya kampuni madini ya damu, chini ya mgondi kuna watanzania wenzetu walizikwa hai. Barua hii ya Zitto ni mkakati wa kuisafisha bariki.

Read between the lines!! Its all there!! Kuwa PR wa Barrick imekujaje....!!!! Mbona kawaanika sana tu hapa.......
Phyuuuu...........

 

[AMARIDONG]

Zitto ni kiatu cha tajiri,

yuko kazini

 

[Makupa]

Zitto, jungle of all trades master of NONE

 

[Mkandara]

Yote tisa kumi namtaka rais kama Kagame au Chavez basi.. haya mashirika wezi tu hawawezi kukubaliana mahala ambapo itapunguza profit margin zao..They careless about us, it's all about them and thier their interests comes first..Hata tukiwabembeleza vipi sana sana watatuita sisi ndio waroho na tuna wivu wa utajiri wao.