Dar es Salaam. The coming of Dovetel Limited, which traded as Sasatel, in 2008 was largely seen as the dawn of a cutthroat competition among operators.
But the company was short-lived after failing to effectively compete with established brands at that time which included Vodacom, Airtel (then known as Zain) and Tigo.
It died a natural death and now, the Registration, Insolvency and Trusteeship Agency (Rita) says it was finalising the liquidation of ‘Sasatel’ and Hydrox Industrial Services Limited after confirming that the duo were unable to operate and settle debts they owe.
The Rita Chief Executive Officer, Mr Frank Kanyusi, said in Dar es Salaam on Monday, July 8, 2024 that the move to liquidate the two firms was meant to protect the rights of shareholders, partners, creditors and employees as well as ensuring that all government taxes and dues were duly paid.
“The general public needs to understand that apart from registering births, deaths, marriages, divorces, and adoptions, Rita also oversees the insolvency of corporate bodies and even that [the insolvency] of individuals. We also register the boards of trustees, management of unclaimed property, drafting and safe keeping of wills, and the administration of estates,” Mr Kanyusi stressed.
In line with its mandate, he said Rita has been authorised by the Court to liquidate or rather privatise the two companies.
As such, he said, Rita has already issued notices to inform the public on sensitivity of the issue especially for those with interests in the two companies who are required to come forward and present their interests before the process was completed.
“The work of insolvency in the country is guided by various laws depending on the type of business being conducted by the company being liquidated,” he explained.
Mr Kanyusi said Rita was committed to fulfilling its responsibilities professionally in line with the key pillars of President Samia Suluhu Hassan’s administration of the 4Rs [Reconciliation, Reform, Resilience, and Rebuilding]
“The laws include the Insolvency Act Chapter 25, the Companies Act of 2012, the Banking and Financial Institutions Act Chapter 342, the Cooperative Societies Act Chapter 211, the Insurance Act 394, the Public Corporations Act, the Deeds of Arrangement Act, and the Trustees Incorporation Act Chapter 318,” he said.
Share this news
This Year's Most Read News Stories
How new crop insurance will change farmers’ fortunes
Initiative is a shot in the arm for agriculture, which is currently virtually uninsured with just 0.17 percent of all general insurance sales.Continue Reading
Zanzibar’s tourism body chairman Rahim Bhaloo resigns
Bhaloo, who is also Chairman of the Zanzibar Commission for Tourism (ZCT), cited pressing family issues as the reason for his departure.Continue Reading
Tanzania’s opposition party ACT Wazalendo honours veteran politician under new policy
Unguja. Opposition party ACT Wazalendo today officially bids farewell to its former Chairman, Juma Duni Haji, also known as Babu Duni, as part of a new policy designed to honor retired senior leaders at a ceremony held at Kiembesamaki, Zanzibar.
The initiative highlights the party’s commitment to recognizing and supporting individuals who have served with dedication and integrity.
Babu Duni, who stepped down earlier this year, was succeeded by Othman Masoud, now the First Vice President of Zanzibar.
The policy aims to provide ongoing respect and support to retired leaders, ensuring their continued recognition and contribution to the party’s development.
“Recognizing their significant contributions to the development and prosperity of the party, this policy ensures that retired leaders continue to be acknowledged and respected by both the party and the community,” the policy states.
To benefit from this policy, leaders must not have left or been expelled from the party. They must have served the party with honor and dedication. The national leadership committee will determine whether a leader has fulfilled these criteria.
The policy seeks to honor retired leaders, protect their dignity, acknowledge their contributions, leverage their ideas for the party’s growth, and support them to the best of the party’s ability.
In honoring these leaders, the party will provide a vehicle, the type of which will be determined by the national leadership committee. Additionally, they will receive a monthly allowance, with the amount also set by this committee.
Other benefits include health insurance. If a leader does not own a home, the party will cover their rent at a rate decided by the committee.
The leadership committee may also grant special recognition based on the leader’s contributions. Retired leaders will participate in decision-making meetings according to procedures outlined in the party’s constitution.
Depending on the party’s resources at the time, the policy may also apply to retired deputy chairpersons for both the mainland and Zanzibar, the Secretary-General, Deputy Secretary-General for both mainland and Zanzibar, and the party’s Attorney General.
Additionally, leaders, executives, or members with exceptional contributions to the party’s protection, advocacy, and defense may also benefit, as determined by the leadership committee.
Currently, those who are eligible for benefits under this policy include Juma Duni Haji (retired party Chairman) and Zitto Kabwe (retired party leader).Continue Reading
