Some entities face deregistration as Samia orders assessment

President Samia Suluhu Hassan has directed the Treasury Registrar (TR), Nehemia Mchechu to assess performance of all public entities.

For entities which will be found unproductive, according to the Head of State, will face deregistration.

The President issued the directive at Mlimani City Hall in Dar es Salam on Saturday before NMB Bank issued a dividend to the Government.

During the NMB Bank’s 25th anniversary, the lender handed over a total of 45.5bn/- dividend to the State.

President Samia reminded that entities were established purposely to boost government’s revenues and not otherwise.

“There are those that I will deregister, help and to some I will give guidelines on how to make profits,” the President said as she directed heads of those entities to assess themselves.

“I don’t want to see entities deteriorating while head walking majestically with nice suits in the streets. We will not go together,” the President insisted.

On his part, Finance and Planning Minister, Dr Mwigulu Nchemba applauded the NMB Bank for supporting the government stating that the received dividend will be injected in various projects as per a 2023/24 budget.

“I am going to start the fiscal year well,” said Dr Mwigulu after realizing that the government will receive the said amount as dividend from the lender.

Earlier, the NMB’s Chief Executive Officer, Ruth Zaipuna said in the period of 25 years, the bank revenue has climbed to 1.2tri/-, up from 14bn/- recorded in 1999.

“In 1999, NMB Bank’s revenue stood at 14bn/-. 25 years later, the lender’s revenue climbed to 1.2tri/-,” said CEO Zaipuna, at the NMB 25th anniversary held in Dar es Salaam.

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