· Airtel Tanzania Plc has paid Sh32.9 billion as dividend to the Tanzanian government
· Out of the Sh32.9 billion, Sh18.9 billion was in the form of a dividend. Sh14 billion was termed as ‘the firm’s contribution to Tanzania’s development endeavours’.
Airtel Tanzania Plc has paid Sh32.9 billion as dividend to the Tanzanian government, as per the agreement between the government and Bharti Airtel. Out of the Sh32.9 billion, Sh18.9 billion was in the form of a dividend. Sh14 billion was termed as ‘the firm’s contribution to Tanzania’s development endeavours’.
Bharti Airtel last year, entered into an agreement with the Tanzanian government to pay the former Sh60 billion over a period of five years to settle an ownership dispute. The payments were in accordance with the deal in which Bharti agreed to reduce its stake in Airtel Tanzania to 51 percent from 60 percent leading to the state’s ownership of the company to 49 percent .Bharti Airtel chairman Sunil Mittal announced in June last year that Airtel would pay the Sh1 billion every month for sixty months starting April 2019.Additionally, the company would also pay the government a special dividend at end of 2019.The agreement also provided for writing off a debt of $407 million which Tanzania owed Airtel – and that the state would appoint the its chairman.
As on March 2020, according to the data given by Tanzania Communications Regulatory Authority (TCRA), Airtel had a total of 13.4 million voice subscribers indicating that Airtel had a 27 percent share of the market. Tanzania has eight telecom players for 48.939 million active Sim cards.
