Wednesday, August 13, 2008
The Tanzanian government has indicated its readiness to re-posses all privatised public companies underperforming in the country. Government findings revealed that most of these firms were "under performing or had been vandalized and abandoned". The government believes foreign companies who bought the companies are to be blamed despite public knowledge of unnecessary bureaucracies which scare private investors from financing projects.
So, Tanzania's Consolidated Holding Corporation, the agency mandated to oversee privatization has been monitoring companies to make sure the new owners respect laid down regulations before purchasing them.