TANZANIA’S TRITEL SET TO GO BUST?
The first mobile company to introduce GSM technology to Tanzania, Tri Telecommunication Company Limited (Tritel) may close according to a report in Tanzania’s Guardian. According to the paper the ailing mobile company is left with about ten days to settle the bills short of which it will be forced to close its shop. The debts, which have resulted from failure by the company to settle various fees, charges and taxes, have been cited as the major reason behind its failure to remain in the market.
One of the major creditors of Tritel’s is the communication sector regulator, the Tanzania Communication Commission (TCC). Apparently, Tritel owes TCC billions of Tanzania shillings accrued from unsettled annual fees. Another major creditor is the Tanzania Telecommunication Company (TTCL). According to another source, Tritel has allegedly failed to settle a colossal amount of money owed to TTCL as interconnection charges. The Tanzania Revenue Authority (TRA) is allegedly another major creditor. Tritel has accumulated huge debts to TRA as a result of pending taxes. Creditors have resolved to give Tritel a two-week grace period, to settle the debts otherwise ‘face the consequences.’