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WELCOME to the divestiture of ... |
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Tanzania Telecommunication Company Ltd |
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Tanzania Telecommunications Company Ltd (TTCL) was
formed out of the former Tanzania Posts and Telecommunications Corporation
in 1994. It is wholly owned
by the Government of Tanzania, and is governed by statute – the Tanzania
Telecommunications Act of 1993. It
is the owner and operator of the public switched telephone network in
mainland Tanzania and on Zanzibar. As
at February 1999 it had an exchange capacity of 192,365 lines and 126,515
connected direct exchange lines (DELs).
It has a workforce of under 4,000.
In 1998 its revenues were approximately US$ 112 million, its
earnings before interest, tax and depreciation were approximately US$ 32
million, and following a major capital restructuring it has a ‘clean’
balance sheet. The
Telecommunications Sector:
The National Telecommunications Policy of October 1997 sets out the
Government’s vision, objectives and target for the telecommunications
sector in Tanzania. The
Government’s vision for this sector is for the accelerated development
of an efficient telecommunication s network that can provide a national
info-communication infrastructure and access to present day
telecommunication technologies by all sectors of the economy and all
segments of the population, including universal access. The policy objective is to ensure that telecommunication services are
provided in a liberalized and competitive manner. Specific objectives are: ·
To ensure provision of
adequate, sustainable and efficient telecommunication service in all
sectors of the economy;
·
To put in place a reliable
telecommunications infrastructure and ensure service inter-connectivity
nationally and internationally.
The overall target for the sector is to achieve a telephone density of 6
telephones per 100 population
by 2020. Teledensity in 1997 was estimated as 0.32 telephones per 100
inhabitants. The sector is regulated by an independent regulator,
the Tanzania Communications Commission (TCC).
The main operator is TTCL which operates fixed line basic telephony
services enjoying a monopoly on mainland Tanzania, and a duopoly on
Zanzibar. ZANTEL has the
second fixed line voice licence for Zanzibar. The
cellular/mobile telecommunications segment of the market is fully
competitive. There are three
cellular operators, Mobitel, which used to have TTCL as one of its
shareholders, Tritel, and Plantel/Vodacom
(Tanzania) Ltd. Zantel has
been issued a mobile licence. TTCL received one on privatization and is
scheduled to become operational in late 2001. TCC has issued three data services licences to SITA
Group, Wilken Afsat Tanzanian Ltd and Datel Tanzania Ltd.
It has also issued three licences for radio paging services.
The licensees are TTCL, Adesemi (T) Ltd and Call Systems, but only
the last one is operational as at May 2001.
There are about twenty or so internet service providers. Partial
Privatisation of TTCL:
The
Government has sold 35% of an enlarged share capital of TTCL to a
strategic partner/investor. The
strategic partner was identified though a competitive international tender
as the consortium of MSI of
the Netherlands and Detecon of Germany.
The sale took the form of purchase of new shares, and the proceeds
remained within TTCL. The
strategic partner took over Board and management control on 23 February
2001. This means that the
strategic partner has a veto over major Board decisions, it has the right
to appoint the senior management, to set the annual business plan and to
control all capital expenditure decisions. As
part of the privatisation process TCC granted five new licences to TTCL
for basic public fixed line telecommunications services, mobile
telecommunications, radio paging, data services and ISP services.
In return TTCL in the last year disengaged from its joint ventures
in Mobitel (cellular) and Datel (data services).
The basic licence gives TTCL an exclusivity period of four years
and an obligation to have 800,100 connections by the end of the
exclusivity. Further Privatisation of TTCL: The Government also intends to sell 29% of the total
shares in TTCL in the following manner: ·
14% to international financial institutions; ·
10% to national financial institutions; ·
5% to TTCL employees. The Government will retain 36% stake until TTCL goes
onto the Stock Exchange and an initial public offering (IPO) is carried
out. Sale of Government shares in the former TTCL Joint
Ventures:
As part of the privatisation process for TTCL, the TTCL shareholding in
its four joint ventures was transferred to the Treasury Registrar.
The Government intends to sell these shareholdings in the following
joint ventures: 1.
‘Mobitel’ - MIC (Tanzania) Limited, a joint venture with Millicom
International Cellular SA whose business is the provision of cellular
telephony. 2.
‘Datel’ – Datel Tanzania Limited, a joint venture with Nexus
International whose business is the provision of data services. 3.
Teleshop Company Limited, a joint venture with Tansoft Systems Limited
whose business is selling telecommunications equipment in retail outlets. 4.
International House Property Limited, a joint venture with Mitsubishi,
Murray and Roberts and other, whose business was the development and
ownership of prestigious office facilities for rental. PSRC is in the process of carrying out preparatory activities for
implementing the Government’s strategy for the further privatisation of
TTCL and its former joint ventures. Details
of the process for the transactions and the timing will be added to the
website in due course. |