Electricity Giant tops State-Owned Tanzanian firms steeped in Huge Debts
The top ten parastatals that are in deep debt
Despite a monopoly in the country’s power supplying sector, the Tanzania Electricity Supply Company, has the highest debt figure in the country, accounting for nearly 3 trillion.
According to the just released, Controller Audiot General Report, TANESCO has cumulative debts amounting to 2.88 trillion/- and counting.
The Public Service Social Security Fund is billed second on the highest debt listing, with 682.7 billion/- on its debit side.
Tanzania Ports Authority has 562.8 billion/- in debts. Strangely the TPA also enjoys monopoly in the shipping industry sector.
The Medical Supply Department is yet another derision in monopolic ventures of Tanzania, the MSD is anchored in debts amounting to 382 billion/-.
The Tanzania Telecommunications Corporation Limited is also deep in debt, with 345.9 billion/- in the red.
Air Tanzania Corporation is not only a loss making National Carrier but also staggering with debts amounting to 306.7 billion/-
The National Housing Corporation, according to the CAG report, is also housing a debt of 279.8 billion/- in its basement.
National Insurance Corporation, may also need to be insured out of its staggering debt of 278 billion/-
The National Social Security Fund, is also far from being secured financially with debts amounting to 239.5 billion/-.
Closing the top ten of highly indebted state-run corporations is the National Health Insurance Fund (NHF), with a rather unhealthy 177.4 billion/- in debts.