TTCL NEEDS 300BN/- CAPITAL INJECTION

TTCL Mwanza branch

TANZANIA Telecommunication Company Limited (TTCL) needs 300bn/- to install new and modern technology to increase efficiency and competitiveness in the market.

The TTCL Board Chairman Omary Nundu told the parliamentary committee for infrastructure in its one day tour at the National Data Centre that the funding was important to make the telecom firm profitable. “The funds will help in the replacement of outdated infrastructures for TTCL to implement smoothly its business transformation strategy,” he said.

The Chairman of the parliamentary committee for infrastructure, Prof Norman Sigala, called upon the government and all its institutions to pay their debt owed to TTCL amounting to 9bn/- for it to offer better telecom services in the country.

Also he encouraged public institutions to use the National Data Centre that has international standards assuring quality and safety of their data.

“TTCL will continue to flourish as the government and its institutions make more use of the TTCL services,” he said. Ms Rita Kabati, one of the members of the parliamentary committee said the process of repossessing all TTCL shares from BhartiAirtel should go together with increased investment as was done in Air Tanzania Company Limited (ATCL).

The TTCL Acting Chief Executive Officer Mr Waziri Kindamba the continual support from the parliamentary committee for infrastructures has helped in the repossession of TTCL shares and accessing 96.6bn/- loan after the government had permitted the telecom firm use its assets as collateral.

Source: Dailynews