Josephine Christopher is a senior business journalist for The Citizen and Mwananchi newspapers
Mwananchi Communications Limitted
Dar es Salaam. More than 150 board directors and chief executives are set to gather in Arusha next month to address what the Office of the Treasury Registrar (OTR) describes as a new phase of risk and opportunity for Tanzania’s state-linked commercial entities. Six strategic issues will dominate discussions at the Minority Interest Forum 2026, scheduled for March 16 to 18.
The forum comes as the government’s minority shareholdings in 56 companies have grown to Sh1.94 trillion, more than doubling from Sh821.51 billion in 2020, signalling a shift from routine oversight to deeper strategic engagement.
OTR director of public investments – commercial entities, Lightness Mauki, said the forum will focus on strengthening governance, enhancing financial resilience and preparing boards to navigate increasingly complex market conditions.
The first is governance effectiveness. OTR is calling for clearer accountability for government-appointed directors, stronger board evaluations, and strict adherence to shareholder agreements. While these companies operate commercially, the government remains a strategic investor and seeks sharper performance monitoring without interfering in daily management.
Second is financial sustainability. Although revenues across the 56 companies rose to Sh10.74 trillion in 2024 from Sh6.81 trillion in 2020, boards are expected to stress-test balance sheets and protect profitability amid tighter financing conditions and exchange-rate volatility. Dividends reached Sh266.52 billion in 2024.
Third, risk management in a volatile global environment will be key. Directors must prepare for geopolitical uncertainty, commodity price swings and supply-chain disruptions affecting sectors such as mining, energy and telecommunications.
Fourth is cybersecurity and digital transformation. As companies digitise operations, exposure to cyber threats grows. OTR wants boards to treat cybersecurity as a strategic risk requiring top-level oversight.
Fifth, alignment with Tanzania’s long-term development vision will be considered. Minority-interest companies contribute significantly to tax revenues, about Sh3.67 trillion in corporate income tax between 2020 and 2024, and operate in sectors critical to industrialisation and job creation.
Finally, the forum will focus on foresight leadership. Under the theme “From Oversight to Foresight,” boards are encouraged to adopt predictive, data-driven decision-making to anticipate risks and capital needs, positioning companies competitively before shocks occur.
Ms Mauki said the government does not intend to expand ownership but to protect and optimise the value of existing stakes. “Boards must be agile, informed and forward-looking to sustain these gains,” she said.
The forum comes as global capital becomes more selective and governance standards more exacting, marking a pivotal moment for Tanzania’s commercial investment management.
