COAST REGION: THE government yesterday urged companies to ensure they align their strategic and business plans with the country’s long-term plan as stipulated in the National Development Vision 2050.
Minister of State in the President’s Office (Planning and Investment), Prof Kitila Mkumbo (pictured) made the reminder yesterday in Kibaha, Coast Region, when addressing the Board Directors Forum for Companies with Government Minority Shareholders, 2025.
The forum, organised by the Office of Treasury Registrar (OTR) had a theme: “Leveraging technology for Enhanced Performance.”
“Align your business strategies, strategic plans with the national direction regarding our economic agenda,” Prof Mkumbo said.
Among others, the 2050 NDV insists on making vibrant and competitive private sector.
He said: “Very few of you are competitive, not only internationally but also regionally. We must invest more to ensure our entities become globally competitive.”
He stated that as Tanzania envisions to become a leader in agricultural products by 2050, there is need for public institutions to aim high.
“If the private sector performs profitably, why not public entities,” he said.
In total, there are 56 government companies under the Office of Treasury Registrar. The discussion should also focus on discussing how to ensure all public entities contribute dividend accordingly.
During the forum he also officially launched the new board directors’ guideline for minority interest companies.
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Earlier, the Permanent Secretary in the President’s Office (Planning and Investment), Dr Tausi Kida expressed optimism that the forum would significantly enhance institutional performance.
Dr Kida highlighted that the government, through the Planning Commission, is in the process of drafting the National Development Vision.
The vision is focused on creating an enabling environment for investment and trade, which is crucial for achieving the country’s goal of reaching a middle-income economy and delivering tangible benefits to individual citizens.
On his part the Treasury Registrar (TR) Nehemiah Mchechu informed that the 56 institutions operate across various sectors, including mining, finance, agriculture, logistics and infrastructure.
“During this forum, we will discuss strategies, share experiences and review the achievements of these institutions,” Mr Mchechu said.
He added that last year, 17 institutions paid dividends, an increase from 15 the previous year.
“We will continue adopting best practices from the private sector to enhance efficiency in public institutions,” he added.
OTR Director of Performance, Monitoring and Evaluation, Ms Lightness Mauki, highlighted that the government has invested 2.8tri/- in commercial public companies.
“This is a significant investment and these companies have continued to provide dividends to the government. Last year, they contributed 195bn/-, up from 58bn/- four years ago, marking an increase of over 230 per cent. This growth represents a 50 per cent annual increase, which is a remarkable contribution,” she said.
Speaking on behalf of other participants, NMB Chief Executive Officer Ms Ruth Zaipuna commended the government for fostering an enabling environment that drives creativity and innovation in institutions.
