Tanzania: TTCL needs USD 50m to regenerate

Mergers, Acquisitions and Financial Results

The Tanzania Telecommunications Company Limited (TTCL) needs over USD 50 million to improve its services; company’s chief executive officer Said Amir Said has said.

He revealed this in Dar es Salaam at a function where TTCL signed a business contract with Maxcom Africa for the latter to sell TTCL vouchers through its agents scattered through out the country.

Explaining, Said said the company was currently operating independently and had started making profit. He said a strategic plan prepared by the company showed that it would start operating effectively in 2013.

“We are now doing well using available resources. We have invested a lot. We are in a process of getting the required capital to improve our services and ensure profit realization,” he noted.

Explaining, he said Tanzanians will be able to but TTCL vouchers whenever they are in the country in fast and efficient electronic mode. He said that credit vouchers will also be available at other selling points.

For his part, Maxcom Africa deputy director-general Ahmed Salim Lossari said that under the deal it signed with TTCL, the latter’s customers would be able to buy vouchers from its 1,300 agents located in all regions.