High Court Judge Victoria Makani

VELMA Law is delighted to announce that a founder partner Victoria Lyimo Makani has been appointed as a High Court Judge of Tanzania with immediate effect from Saturday, 26 July 2015. This is a wonderful achievement. VELMA Law is now adjusting to these new circumstances to ensure “business as usual” and we wish Victoria all … Read more

Non-Citizens (Employment Regulation) Act 2015

The new Non-Citizens (Employment Regulation) Act 2015 was passed by Parliament in February 2015, assented to by the President on 25 April 2015 and came into effect on 1 October 2015.

The Act applies to mainland Tanzania and its main objective is to simplify the application process and issuance of work permits, to create a more conducive environment for foreign investment and a good base for implementation of various regional agreements.

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Access to Information Bill 2015

The Access To Information Act, 2015 - Tanzania

The Access to Information Bill 2015 was presented to Parliament in February 2015 and awaits final approval (as at 2 June 2015).

The stated objects and reasons include to enhance access to information and promote transparency and accountability of public authorities and private bodies that are in possession of information which is of significant public interest.

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Single Borrower Limits

Banking and Financial Institutions (Credit Concentration and Other Exposure Limits) Regulations 2014 limit the total amount of credit accommodation which any bank or financial institution may, directly or indirectly, grant to any entity, and its related parties, to 25% when secured by collateral the value of which is at least 125% of the credit accommodation deemed by it … Read more