The Parliament of Tanzania has published a new bill on 15th September 2017 to establish a state-owned Tanzania Telecommunications Corporation that will replace the current Tanzania Telecommunication Company Limited (TTCL).
The Tanzania Telecommunications Corporation Bill, 2017 indicates that functions of the new company shall be, among others, to build, operate and maintain the telecommunications infrastructure and networks, operate telecommunications services, and promote local and foreign investments in telecommunications services.
The state-owned corporation will also carry out financial payment system in relation to telecommunications services.
TTCL PESA, the mobile money service currently provided by TTCL, will continue to operate and will become a subsidiary of the new corporation.
The new corporation should attain a real rate of return on the capital employed of at least 5%.
TTCL was partially privatized in 2001, but in 2016 the government repurchased the stocks to regain 100 percent ownership.
According to the website of the Parliament of Tanzania, a date for a second reading on the bill has not yet been established.