Speaker demands explanations on share-listing delays
DODOMA: NATIONAL Assembly Speaker Mussa Azzan Zungu has directed the Tanzania Communications Regulatory Authority (TCRA) and the Capital Markets and Securities Authority (CMSA) to appear before the Parliamentary Budget Committee and explain delays in enforcing legal requirements that could significantly boost government revenue. Issuing the Speaker’s guidance during budget deliberations in the National Assembly yesterday, Zungu expressed concern that several telecommunication
The Tanzanian National Assembly Speaker has requested the TCRA and CMSA to clarify delays in enforcing share-listing rules. The Speaker highlighted that only Vodacom has complied with the requirement to list 25% of its shares on the stock market. Amendments to the EPOCA law mandated this action for mobile network operators between 2016 and 2018. The Speaker questioned why TCRA and CMSA have not taken action against non-compliant companies. He emphasized the impact on government revenue and national economic interests. The Speaker also noted that similar mechanisms in neighboring countries generate significant income. Delays in implementing PPP projects were also raised as a concern. The Speaker ordered both institutions to explain their inaction to the Budget Committee.
The issue affects government revenue and economic development in Tanzania.
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