Mining – Local Content Regulations 2018 have been published. They are detailed and concise in their scope and application but are materially unclear in some aspects. As regards foreign service providers please note for instance: Regulation 8(6): A non-indigenous Tanzanian company which intends to provide goods or services to a contractor, a subcontractor, licensee, the Corporation or … Read more
BRELA is improving its online registration system (see BRELA notice January 2018) and has now given further notice that a company formed before 1 February 2018 must go online to verify its information (see Daily News Article 23 March 2018 and Mwananchi 26 March 2018) in the next 6 months by, we believe, 1 August 2018. NB … Read more
Notice has been issued to encourage compliance to register and use .tz domain names Tanzania. Failure to comply will attract fine and/or imprisonment as stipulated under Electronic and Postal Communications Act.
Deposit Insurance Board has announced that reimbursement of insured deposits of FBME Bank Ltd (under liquidation) to depositors will commence on 1 November 2017.
Bank of Tanzania (BOT) in collaboration with Tanzania Investment Centre (TIC), and National Bureau of Statistics (NBS) is conducting a survey of establishments with foreign liabilities in Tanzania. The survey will be implemented during November 2017 to March, 2018 and will cover data for 2015 and 2016. During the survey, a team of researchers from … Read more
It is reported that the Deputy Minister for Mineral and Energy, Dr Medard Kalemani said at a sideline of the Oil and Gas Conference in Dar es Salaam: He continued:
Fair Competition Commission (FCC) published a second notice in October 2015 that: With effect from 1 January 2016, all “standard form contracts” should be registered with the FCC and are subject for review. All standard form contracts in use, should also be submitted for registration and review by the FCC. We understand the FCC position … Read more
By Fair Competition (Threshold for Notification of a Merger) (Amendment) Order 2017 the threshold for notification of a merger has been increased from TZS 800,000,000 (about USD 360,000) to TZS 3,500,000,000 (about USD 1,500,000). “Merger” means an acquisition of shares, business or other assets, whether inside or outside Tanzania, resulting in the change of control of … Read more
The High Court has supported a 2015 award for Coast Textiles Limited against FBME in the order of TZS 92 billion (about USD 41 million). See newspaper article 5 June 2017.
Notice to Depositors dated 12 May 2017 is given that: Deposit Insurance Board (DIB) has commenced the process of stocktaking and verification of assets and liabilities of the said FBME Bank (Under Liquidation) (FBME). Depositors of FBME will be notified by DIB of the Pay-out Plan of their protected deposits in accordance with the law upon … Read more