United Republic of Tanzania
Foreign investors allowed to participate in telecoms initial public offerings
22 Jun 2017
On 22 June 2017, the National Assembly passed the Finance Act 2017, which makes amendments, among others, to the Electronic and Postal Communications Act 2010. The new law allows foreign investors to acquire shares in the 25 per cent listed paid-up capital of a telecommunication company. Previously, the Finance Act 2016 required telecommunication companies to offload 25 per cent of their shares to Tanzanians only via Initial Public Offerings (IPOs).
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Type:
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Entry and establishment (Ownership and control)
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Industry:
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Services (Telecommunications)
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Sources:
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Gazette of the United Republic of Tanzania, The Finance Act, 2017, http://www.mof.go.tz/docs/THE%20FINANCE%20ACT,%202017%20CHAPA%20Final.pdf, 30 Jun 2017
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The Economist Intelligence Unit, Tanzania: Foreign investors allowed to participate in telecoms IPOs, http://viewswire.eiu.com/index.asp?layout=VWArticleVW3&article_id=385619822®ion_id=430000443&refm=vwReg&page_title=Latest+regional+analysis, 26 Jun 2017
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Allafrica, Tanzania: Govt Amends Law to Allow Access to Initial Public Offerings, http://allafrica.com/stories/201706230264.html, 23 Jun 2017
