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Tanzania’s new Telecom Bill shocks investors

   

25-Feb-2010

   

Tanzania’s Parliament has passed a controversial telecoms bill that makes it mandatory for mobile companies to be listed on the Dar es Salaam Stock Exchange. The bill has been labelled retrogressive by critics. "It takes the country back to the era of nationalisation when individuals were forced to sell their companies or shares to the government," said the legal and regulatory affairs head of Vodacom Tanzania, Godwin Ngwilimi. During the debate on the bill, MPs criticised mobile phone companies for treating customers unfairly and denying the government billions of shillings in taxes.

   

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