TTCL weighed down with Sh403 billion debt

Thursday October 21 2021

Dar es Salaam. The Parliamentary Accounts Committee (PAC) has on Thursday, October 21, said the Tanzania Telecommunications Corporation (TTCL) is heavily indebted to the tune of Sh403 billion while its operating capital stands at Sh243 billion.
The Vice Chairman of the committee, Japhet Hasunga said this on Wednesday, October 20, 2021 after reviewing the report of the Controller and Auditor General (CAG) for the year 2019/20 where he said they have noticed there are indicators that the corporation is not doing well because it has capital negative of Sh132 billion.
"That is an indication that that all is not well. The corporation has been paying taxes but their income is not included in the books, “said Hasunga.
He said that the company that deals with the National ICT Backbone and the data center that the committee has seen fit to sit with the Government to explain why the revenue of these companies is not included in TTCL books as required by law.
Also, he said they have noticed that the agency's market share has not stabilized compared to their commercial rivals.
 To save TTCL, Hasunga said the government should increase capital or allow the corporation to raise capital from other sources.