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.
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Tanzania: Samia Hands Over NBC’s 354m/ – Crop Insurance Compensation to Farmers Affected By Hailstorms
President Samia Suluhu Hassan, has handed over a cheque of 354m/- from the National Bank of Commerce (NBC) as compensation to tobacco farmers, who were affected by hailstorms during the previous farming season in various regions across the country.
Handing over the cheque in Dodoma, the compensation is part of the crop insurance service provided by NBC in collaboration with the National Insurance Corporation (NIC).
Furthermore, President Samia has also handed over health insurance coverage to members of the Lindi Mwambao Cooperative Union based in Lindi Region, through the Farmers’ Health Insurance service provided by the bank in partnership with Assurance Insurance Company.
While visiting the bank’s pavilion at the Nanenane Agricultural Exhibition and being received and briefed by the bank’s Managing Director, Mr. Theobald Sabi, she said: “This crop insurance is one of the crucial solutions in ensuring farmers have a reliable income, without fear of challenges such as natural disasters, including hailstorms.
“I call upon all farmers in the country to make the best use of this important opportunity by accessing these kinds of insurance services. I also highly commend NBC and all the stakeholders participating in this programme.”
Elaborating further on the crop insurance service, the Minister of Agriculture, Hussein Bashe, stated that it will help to recover the loss farmers incurred, especially in various calamities beyond their control.
Citing them as floods, fires, and hailstorms, which have significantly affected the well-being of farmers and caused some to be reluctant to invest in the crucial sector, Mr Bashe added: “However, our President, this step by NBC is just the beginning, as this is the second year since they started offering this service, and the results are already visible.
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“As the government, we promise to continue supporting the wider implementation of this service, with the goal of ensuring that this crop insurance service reaches more farmers.”
ALSO READ: NBC participates in TFF 2023/24 awards, promises to enhance competition
On his part, Mr Sabi said that the farmers who benefited from the compensations are from 23 primary cooperative unions in the regions of Shinyanga, Geita, Tabora, Mbeya, Katavi, and Kigoma.
He added: “In addition to these insurance services, as a bank, through this exhibition, we have continued with our programme of providing financial education and various banking opportunities to farmers, alongside offering them various loans, including loans for agricultural equipment, particularly tractors, to eligible farmers.:
At the NBC booth, President Samia also had the opportunity to be briefed on the various services offered by the bank to the farmers namely crop insurance and health insurance services.
There, the President had the chance to speak with some of the beneficiaries of the services, including the Vice-Chairman of the Lindi Mwambao Primary Cooperative Union, Mr. Hassan Mnumbe, whose union has been provided with a health insurance card from the bank.
Source: allafrica.com
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The Tanzanian central government is planning to boost its security presence in the Zanzibar archipelago. A commission tasked with auditing the country’s security forces was appointed in July by President Samia Suluhu Hassan. It says it is concerned about the situation in the country’s Indian Ocean islands that are under the control of the semi-autonomous Zanzibar local government.Continue Reading
Zanzibar airport operators decry job losses over Dubai deal
Tanzania air operators say over 600 workers are set to lose their jobs after the semi-autonomous government of Zanzibar awarded a Dubai-based company exclusive rights to handle ground services at a refurbished airport.
The Tanzania Air Operators Association (Taoa) said in a statement that the contract awarded to Dnata, which is registered at the London Stock Exchange, was in breach of the law banning any company from having exclusive rights to ground-handling services at major airports.Continue Reading
