ARUSHA: THE Tanzanian government has issued eight strategic directives aimed at improving the...
performance of companies in which it holds minority shares, as part of efforts to achieve a high middle-income economy under the National Development Vision 2050.The plan seeks to grow Tanzania’s economy from the current 85bn US dollars to 1tri US dollars by 2050, a goal that requires high efficiency in public investment, especially in these companies.
While opening a three-day conference for Directors of Companies with Minority Government Shares taking place in Arusha under the theme “From Routine Oversight to Forward-Looking Strategic Leadership,” the Minister of Finance, Ambassador Khamis Mussa Omar, said the directives are intended to strengthen company operations through transparency, efficiency, and profitability, while ensuring they contribute fully to economic transformation.
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He emphasized that boards of directors and management must align their strategies with national development priorities and global economic trends. He also instructed companies to adopt technology to enhance transparency, build public trust, and improve governance systems, while stressing the importance of forward-looking leadership in identifying risks and opportunities early..
He further stated that through Vision 2050, the government aims to increase the contribution of non-tax revenue from 3 percent to 10 percent within five years, equivalent to 5tri/- annually. However, he stressed that achieving this requires a shift in mindset and working approaches toward leadership that embraces innovation, foresight, and adaptability.
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