Tanzania: TTCL pays dividends yet ranks highest in accumulated land rent arrears

Tuesday June 11 2019

 

By The Citizen Reporter @TheCitizenTZ news@tz.nationmedia.com

Dodoma. Tanzania Telecommunications Corporation (TTCL) has of recent been in the news for a good reason, thanks to its dividend issuance to the government, its owner.

Unfortunately, the state-owned telecommunication firm ranks number one on the list of public and private institutions and companies as well as owners of industrial and commercial plots with highest amounts in accumulated land rents arrears. 

Speaking during a meeting with heads of the institutions here on Tuesday, June 11, 2019, the Minister for Land, Housing and Human Settlements Development, Mr William Lukuvi said TTCL has accumulated land rent arrears to the tune of Sh40 billion.

A total of 207 institutions have accumulated land rent arrears to the tune of Sh200 billion, with TTCL topping the list.

On Thursday, June 21, 2018, TTCL Corporation paid the government some Sh1.5 billion as dividend for the 2016/17 financial year.

Similarly, TTCL issued a Sh2.1 billion dividend to the government this year after making a profit of Sh8.3 billion during the 2017/18 financial year.