Tanzanian government achieves full control of TTCL

2 Feb 2015

Bharti Airtel has finally agreed to sell its 35% stake in Tanzania Telecommunication Company Limited (TTCL) to the Tanzanian government, it has been reported. The Tanzania Daily News notes that the shares will be sold for TZS14.0 billion (USD7.7 million), bringing the company under full state control for the first time since its part-privatisation back in February 2001.

January Makamba, deputy minister for communication, science and technology, noted that the government will now be better placed to invest in developing the company’s fixed line and CDMA mobile operations, also noting that despite media claims to the contrary, TTCL is not going bankrupt; Makamba stated that the telco’s revenue increased from TZS80 billion in 2010 to TZS93 billion in 2013.

As previously reported by TeleGeography’s CommsUpdate, Bharti Airtel rejected a TZS5 billion offer from the government in November last year, with the Indian firm said to be holding out for TZS21.5 billion at that time.

Tanzania, Bharti Airtel, Tanzania Telecommunication Corporation