Ex-Home Affairs minister appointed fastjet Tanzania’s first executive chair
What you need to know:
- Fastjet Tanzania has appointed Mr Lawrence Masha as its first executive chairman effective Tuesday as the firm hopes to tap into his vast experience in various fields to grow and detach itself from its mother airline.
Dar es Salaam. Fastjet Tanzania has appointed Lawrence Masha as the first executive chairman of the airline effective Tuesday, November 6 as part of firm’s plans to detach itself from the mother company, Fastjet Plc.
This was revealed by Fastjet Tanzania general manager Derrick Luembe on Tuesday in a statement availed to The Citizen.
“Mr Masha will be working closely with the company’s management team to oversee the smooth operation of the airline and the management buyout which is currently in progress,” he said.
Mr Masha’s tasks include pursuing potential local investors to purchase all equity in fastjet Airlines Limited held by fastjet Plc and to become a wholly-owned Tanzanian airline.
The plan by Fastjet Tanzania to purchase all stake from the mother company came out a month after the later had on September this year announced that it had set to stop all funding to fastjet Tanzania with immediate effect.
“We are optimistic, with the experience that Mr Masha has accumulated from various fields, we stand a chance to attain our set goals,” noted Mr Luembe.
Mr Masha, who is one of the shareholders of Fastjet Tanzania, is also the chairman of Board of Tanga Cement Limited and Ecoprotection Limited.
He is also a member of the Board of the Newforest Company and managing partner of Gabriel and Co. Attorneys.
“As a former minister for Home Affairs, deputy minister for the then ministry of Energy and Minerals and managing director of Tanzania Oxygen Limited , the board has confidence that under his stewardship the airline will grow stronger,” said Mr Luembe.
Speaking recently during its award-winning six-year history, Mr Luembe said Fastjet Airlines Limited has during the period carried more than 2.5 million passengers in Tanzania alone.
