By Our Correspondent - Dar es Salaam
Tanzania Telecommunications Corporation (TTCL) has achieved a historic milestone after receiving a Special Award from the President of the United Republic of Tanzania, Samia Suluhu Hassan, in recognition of its remarkable turnaround to profitability following years of financial challenges.
TTCL recorded a net profit of TSh22.9 billion in the last financial year and paid a TSh1.6 billion dividend to the Government, marking the first time in many years that the state-owned telecommunications company has generated profits and delivered returns to its shareholder. The achievement earned the corporation special recognition during the Public Institutions Performance Awards Ceremony held at the State House in Dar es Salaam.
Speaking during the ceremony, Nehemia Mchechu, the Registrar of the Treasury, said TTCL had successfully reversed a TSh18 billion loss recorded in the previous financial year into a TSh22.9 billion profit, describing the transformation as one of the most significant success stories among Tanzania's public institutions.
Mchechu noted that TTCL's ability to pay a TSh1.6 billion dividend demonstrates that strategic government investments in public enterprises are yielding tangible results through sound governance, efficient business management, and strengthened accountability.
He further stated that the growing dividend contributions from state-owned institutions reflect the success of ongoing operational and strategic reforms under the Sixth Phase Government.
According to him, public institutions play a vital role in boosting government revenue, stimulating economic growth, and accelerating the implementation of Tanzania's Development Vision 2050.
Presenting the award, President Samia congratulated TTCL for returning to profitability and resuming dividend payments to the Government, describing the achievement as clear evidence of improved leadership, prudent resource management, and enhanced institutional efficiency.
The President urged public institutions to continue investing in technology, innovation, and modern management systems to strengthen competitiveness, attract investment, and make an even greater contribution to the country's economic development.
She also emphasized the importance of accountability, prudent utilization of public resources, and results-oriented performance to ensure that government investments continue to deliver sustainable benefits to Tanzanians.
TTCL's remarkable turnaround has been driven by a series of strategic reforms aimed at strengthening business performance, improving service delivery, enhancing resource management, investing in modern telecommunications technologies, and fostering a culture of accountability across the organization.
Receiving the President's Special Award marks a major milestone in TTCL's transformation journey. The company's return to profitability, its contribution of dividends to the Government, and its continued commitment to improving services underscore its ambition to become a competitive, sustainable, and nationally significant telecommunications provider.
The achievement also aligns with this year's theme, "Results-Oriented Investment: The Foundation of a Competitive Economy and Sustainable Development Towards Tanzania's Development Vision 2050," further positioning TTCL among Tanzania's best-performing public institutions and highlighting the positive impact of government reforms and strategic public investment.
Presenting the award, President Samia congratulated TTCL for returning to profitability and resuming dividend payments to the Government, describing the achievement as clear evidence of improved leadership, prudent resource management, and enhanced institutional efficiency.
The President urged public institutions to continue investing in technology, innovation, and modern management systems to strengthen competitiveness, attract investment, and make an even greater contribution to the country's economic development.
She also emphasized the importance of accountability, prudent utilization of public resources, and results-oriented performance to ensure that government investments continue to deliver sustainable benefits to Tanzanians.
TTCL's remarkable turnaround has been driven by a series of strategic reforms aimed at strengthening business performance, improving service delivery, enhancing resource management, investing in modern telecommunications technologies, and fostering a culture of accountability across the organization.
Receiving the President's Special Award marks a major milestone in TTCL's transformation journey. The company's return to profitability, its contribution of dividends to the Government, and its continued commitment to improving services underscore its ambition to become a competitive, sustainable, and nationally significant telecommunications provider.
The achievement also aligns with this year's theme, "Results-Oriented Investment: The Foundation of a Competitive Economy and Sustainable Development Towards Tanzania's Development Vision 2050," further positioning TTCL among Tanzania's best-performing public institutions and highlighting the positive impact of government reforms and strategic public investment.
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