Joseph Isangura
Tanzania’s President, Samia Suluhu Hassan, has called on senior executives of public institutions and agencies to provide honest assessments, particularly when advising on investments in potentially non-profitable areas.
Speaking at a working session for board chairpersons and chief executives of public institutions and agencies in Arusha on Wednesday, August 28, 2024, President Samia emphasized the need for thorough research and verification before committing funds. This approach is intended to minimize potential losses from government investments and safeguard public resources.
President Samia cited the failed Mkulazi project in Morogoro as an example of inadequate scrutiny. She criticized Masha Mshomba, the former Director General of the National Social Security Fund (NSSF), for proceeding with the investment without proper feasibility studies.
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“When Mshomba invested in Mkulazi One, despite acknowledging the project’s size, he failed to recognize its risks. If something doesn’t benefit you, investing simply because it was the ‘right time’ is unacceptable. I told him that if he sees a project is not profitable, he should advise me honestly to avoid losses,” President Samia asserted.
She also highlighted other instances where political motives led to poor investment decisions, referencing Ubungo Plaza as an example. Initially, Ubungo Plaza was used for numerous meetings, but now, it is barely utilized. “I am not hesitant to point out these issues. Ubungo Plaza was meant to be a significant asset, but its current underutilization is a clear sign of failed investments,” she remarked.
