TANZANIA: THE Minority Interests (MIs) Forum for Board Directors of companies where the government holds minority interests has emerged as a vital platform for enhancing corporate governance and collaboration among Tanzania’s minority interest companies.
Following the successful inaugural forum in 2024, the second iteration, held from March 26 to 28, 2025, at the Mwalimu Nyerere Leadership School in Kibaha, Pwani Region, continued the momentum by focusing on leveraging technology to enhance decision-making and operational efficiency.
With prominent leaders such as Chief Secretary Ambassador Dr Moses Kusiluka and Minister of State in the President’s Office (Planning and Investment) Prof Kitila Mkumbo, participating in the ceremonies, the forum underscores its commitment to addressing the unique challenges faced by directors representing the government on the boards of minority interest companies, distinct from other directors.
The Forum, organised by the Office of the Treasury Registrar (OTR), serves as a response to the historical neglect of these companies in favour of state-owned enterprises (SOEs), recognising their crucial role in Tanzania’s economic landscape.
Context and significance
The forum was launched to ensure that government representatives on the boards of minority interest companies can effectively fulfil their responsibilities while voicing the challenges they encounter.
This initiative arose from concerns about misalignment between the OTR and these government representatives, often exacerbated by an exclusive focus on SOEs.
The forum aims to foster collaboration and promote a shared understanding of governance issues, ensuring all sectors of the economy are represented in discussions about national growth.
The first forum set the stage with themes of economic patriotism and governance, while the 2025 forum shifted its emphasis toward the transformative potential of technology.
By aligning with President Samia Suluhu Hassan’s 4R initiative of Reconciliation, Resilience, Reforms and Rebuilding-the forum aimed to equip directors to meet the challenges and seize the opportunities of the digital age. Technology plays a critical role in the Reforms and Rebuilding aspects of this initiative.
The OTR recognises this opportunity for CEOs and their directors to adopt technological advancements, ensuring they lead with a vision aligned with these innovations.
The technological imperative
Tanzania’s technology sector is poised for significant growth, projected to contribute 4.5 per cent to GDP by 2025 and create around 215,000 jobs.
This makes it essential for minority interest companies to adopt tech-driven solutions that address emerging challenges and improve efficiency.
The 2025 forum aimed to facilitate discussions on technologies such as artificial intelligence, data analytics and blockchain, emphasising their role in enhancing decisionmaking and operational performance.
This focus on technology reflects the recognition that organisations must evolve to remain competitive in today’s fast-paced business environment.
The MIF encourages government representatives on these boards to embrace these advancements, ensuring they are equipped to lead with a vision that leverages technological innovation.
Commitment from the Treasury Registrar
During the forum, Treasury Registrar Mr Nehemiah Mchechu emphasised the importance of government representatives on the boards of companies with minority shares.
He urged them to proudly represent Tanzania and honour their positions to ensure the government benefits from its investments in these companies.
Mr Mchechu highlighted the significant financial commitment made by the government, noting that a total investment of Tsh 86.3 trillion has been allocated to institutions overseen by the OTR.
Of this, Tsh 2.9 trillion has been invested in companies with minority government shares, while Tsh 83.4 trillion has gone to institutions where the government holds 100 per cent ownership.
“You are the government’s eyes, so you should not take your positions lightly; otherwise, you will not be serving the government and all Tanzanians properly,” Mr Mchechu warned the directors.
He added, “You must be dedicated and if you feel you cannot fulfil this role due to time constraints, it is better to step aside for someone else.”
During the closing of this year’s forum, Chief Secretary Ambassador Kusiluka commended the Treasury Registrar and his team for successfully organising the event, emphasising its importance in driving national development.
“I especially commend the Treasury Registrar for effectively managing public institutions and these companies to ensure they contribute to Tanzania’s economy by improving revenue collection,” he stated.
Ambassador Kusiluka acknowledged that such meetings will occur annually to reinforce the responsibilities of government representatives on the boards in enhancing government investment efficiency.
“Let us use these precious opportunities to increase efforts, improve the efficiency of the companies we manage, boost contributions to the government’s Consolidated Fund and foster overall economic growth,” he urged.
He stressed the importance of valuing the roles assigned to directors, saying, “You need to fulfil your duties effectively.”
Speaking during the opening ceremony of the 2025 Forum, Prof Mkumbo praised the OTR for ensuring that minority interest companies receive the attention they deserve.
He highlighted that the mandate of the OTR is pivotal in managing government investments prudently, ensuring they deliver returns and contribute to economic growth.
Prof Mkumbo noted that as directors and CEOs, their leadership and strategic direction are crucial in ensuring that the companies they oversee operate efficiently and generate value for all stakeholders.
Objectives and expected outcomes
The 2025 Forum aimed to equip government representatives on the boards with valuable insights into emerging technologies, enhancing their strategic oversight.
By fostering an understanding of how to align technology with organisational strategy, the forum encouraged these directors to adopt tech solutions that lead to measurable performance improvements.
A significant focus was placed on examining the implications of technology on governance, with discussions centred around setting realistic key performance indicators (KPIs) to measure the success of digital transformations.
Additionally, the forum emphasised promoting ethical considerations and fostering a culture of innovation and responsible governance among directors.
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Ultimately, the expected outcomes included increased digital literacy across directorship levels, ensuring leaders stay informed about technological trends and their business implications.
By leveraging predictive analytics, participants were encouraged to optimise resource allocation and enhance productivity while adapting governance policies to th
