Tanzania's planning minister is threatening to shut down or merge public companies that keep performing like garbage despite getting massive government investments. Prof Kitila Mkumbo told reporters that only 91 out of 308 state-owned entities actually turn a profit, and the rest are basically dead weight, sucking up resources without delivering dividends. The Treasury Registrar pulled in about 1 trillion shillings last year, but officials think they can hit 2 trillion if underperformers either step up or get axed.
The government dumped 92.3 trillion shillings into these enterprises and wants actual returns for taxpayers. Mkumbo said they're pushing a new Public Investment Act through parliament to force efficiency upgrades across the board, plus they want transparent hiring for executives and board members instead of the usual patronage nonsense.
The government dumped 92.3 trillion shillings into these enterprises and wants actual returns for taxpayers. Mkumbo said they're pushing a new Public Investment Act through parliament to force efficiency upgrades across the board, plus they want transparent hiring for executives and board members instead of the usual patronage nonsense.
