Tanzania hands Acacia Mining $190bn bill for ''unpaid taxes''

I’ve read extensively, okay let me rephrase, I’ve read a book on these mining companies. Most are Canadian and UK. They are very unfair to the host country. They write their own agreements with the host country because ‘they have expertise’ and of course have clause about ease of doing business, employment etc to sugar coat rape.

Sankara said it and now Magufuli. They killed Col. Gaddafi. If we all decided to do the same?

3 Likes

sahi ni wakati wa kucheza chini. kujijenga before kuattack.

1 Like

Magufuli is trying to get someone to pay his country the rightful worth of their resources. Some ninja somewhere think it is being silly. :D:D:D MwAfrika alirogwa antidote ikakosa kutengezwa.
WHile it is difficult to achieve, at least a negotiation can yield something better for TZ. Hehehehehehe. Binadamu hasaidiki

10 Likes

Ooh how I wanted you to come : jambo tena.

1 First of all ulilenga swali I asked you in a thread if you will vote for ruto 2022.
2 Second please can you go to government website and provide me with the financial statements of this company since they are mining Public resources ,then their revenue has to be made public right ? Because the land belongs to Kenyans so Kenyans have a right to see how much was raped from their land …nangoja

1 Like

Quid pro quo???

for those in the know, would it not be easier if they mined the minerals themselves and sold the same to the west, if its easier to take your produce directly to the market why not cut out the middle guys.

2 Likes

Jambo:
1 will you vote for ruto in 2022
2 umeoga Leo
3 sielewi unamaanisha nini
4 nangoja haya majibu.
5:D:D

Problem is the miners operate a cartel like . Zimbabwe has a lot of copper , there is demand for copper but no one wants their copper apart from CHINA. It’s cartels who operate these markets . As usual Africa is always culprits

1 Like

We were having a conversation with an Ethiopian guy and as i told him about our oil, he told me they also have but the reason it isn’t exploited is because the companies coming want to be getting 60% na govt 40%, but Ethiopians want they drill, pay themselves for a period of time then bolt out na ju wanataka kukamua watu till kingdom come. They are shown middle finger and they are told mafuta hayataoza ikikosa kuchimbwa

2 Likes

I answered your first question kitambo sana. As for you second, go bring the data.

1 Like

I’ll stand by second one , you protecting what’s going on sir, I searched and I didn’t find anything which validates my points that these people are only paying royalties no taxes . And if you have a point that they are paying taxes ,then substantiate it sir by bringing proof . Nangoja

1 Like

Am not protecting anyone, and nowhere did I say they are paying taxes or not. You should go back to my Sportpesa comment and read it sloowly.

What we need is a strong profitable (local) private sector not a strong profitable (international) private sector. Most of the profit made by local private businesses is invested back into the Kenyan economy, the foreign private companies only siphon money out of the country. A good example of the effect the growth of a local company has on the economy is the growth of Equity Bank that revolutionized the banking sector in Kenya. Since our independence we`ve had major international banks such as Barclays, Standard Chartered etc, the only thing they have ever done with their profits in Kenya is build more branches and a few pr projects.

4 Likes

When Equity invests in Uganda, SS, TZ etc… where do they bring back the profits to?

3 Likes

Lack of capacity and technical know how.

You doing deflection tactics my old friend but isorait.

2 Likes

Bro hapana, I think now you are going off the rail. You want to tell me the mother company sees nothing of the dividends that come from Ss ,ug and the rest?

1 Like

We should have done the same with our oil. it is an irony that Nigeria exports crude oil and imports back refined petroleum.

2 Likes

Perfect, so we are in agreement the profits return back to the mother company, and by extension, country of origin, right?

1 Like

If they have the capacity and technical capacity or efficiency more than what is available locally then I don’t see what can stop them.
But do you honestly expect a local Tanzanian mining firm to have better state of the art technology than US firms?
No, never.

1 Like