Submit reports of Airtel transactions, regulator directs banks
What you need to know:
According to the BoT’s Directorate of Banking Supervision has stated that such bank statements were expected to have been submitted to the regulator on December 29.
Dar es Salaam. The Bank of Tanzania (BoT) has directed lenders who have been doing business with Celtel, Zain Tanzania and Airtel Tanzania to submit statements of their transactions of between January 1, 2000 to December 27, 2017.
According to the BoT’s Directorate of Banking Supervision has stated that such bank statements were expected to have been submitted to the regulator on December 29.
The documents should have account details, read a statement by BoT’s Kened Nyoni and Thomas Mongella.
Recently President John Magufuli directed Finance and Planning minister Philip Mpango to probe the ownership of Airtel Tanzania.
Tanzania Telecommunications Company Limited (TTCL) has already declared its intention to claim a full ownership of Airtel which had earlier trading as Celtel and Zain.
TTCL board chairman Omar Nundu and CEO Waziri Kindamba said the company had officially embarked on a “war to recover the firm’s lost shares”.
“We understand that it will not be an easy ride but we believe we have all the facts and evidence to support our claims,” said Mr Nundu.
The board is on the spotlight for approving the transfer of TTCL’s 10.25 million shares to Mobile Systems International, which boosted its stake to 60 per cent against 40 per cent of the government.
Mr Nundu said the company was seeking to retain its ownership lost in 2005.
According to latest figures from the Tanzania Communications Regulatory Authority, TTCL has a mere one per cent subscription share in a market where seven operators scramble for 40 million active subscriber identification module cards.
