Magufuli reveals ‘strange’ conditions set by investors for African countries – VIDEO
Tanzania President John Pombe Magufuli has lifted the lid on some of the strange conditions given to African leaders by investors while negotiating development projects.
The no-nonsense leader spoke while addressing stakeholders in Dar es Salaam. He said that some of these conditions could only appeal to a “madman”.
He cited an example where some lobbyists recently tried to convince him to approve a contract to expand the Port at Dar es Salaam.
“Some of the conditions set by these investors could only be agreed upon by mtu wa kichaa (a madman),” he explained.
“Imagine someone telling you that I will build you a port but on a condition you will not be allowed to construct or develop any other port in the country for a specified period.”
That’s not all, the president added.
“That investor also demands you will also not be allowed to collect revenue (at the port they have constructed), not even TRA (Tanzania Revenue Authority) will be allowed within the premises of that investment,” he explained.
“Further, you will have to guarantee them they will manage that port for 35 years. You will also have to separately settle for a lease agreement, which is different from the laws of the land for 99-years. You should also give them the mandate to transform that place as if it is their own land. While all this is happening, you need to be compensating them for the work they did to build that port. I am revealing some of these strange conditions because people have been coming here and taking advantage of Tanzania and Tanzanians. We are supposed to change.”
Magufuli’s sentiments come amid fears the Kenya government might have sold itself cheaply to the Chinese during negotiations to build the Standard Gauge Railway and other projects.