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Browsing: Songas
Songas –Tanzania’s leading gas-to-power company announced the appointment of Anael Samuel as the new Managing Director of the company with immediate effect.
The Tanzanian national takes over from Nigel Whittaker who was recently appointed as the company’s board Chairperson.
Under his new role, Anael will lead the company to continue its excellent operational performance and availability and continue to work on its plans to invest over USD65 million (approximately TZS126 billion) to expand its generation capacity at the Songas Ubungo Power Plant from the current 180 MW to 245MW.
Read Also: Tanzania: GE upgrades gas turbines at Songas Ubungo Power Plant
Anael joined Songas in April 2014 as Chief Financial Officer responsible for managing all financial planning, reporting and management of risk for the company. Prior to joining Songas, he held senior roles at Intra Energy Tanzania Limited, Tanga Cement and Unilever. Anael holds an MBA qualification from the University …
Songas limited has paid the government TZS8.8 billion in dividends as a result of its shareholding in the Tanzanian gas-to-power company.
Songas is a strategic partner with the Government in meeting the growing demand for energy and includes ownership by Tanzanian sector entities, Tanzania Petroleum Development Corporation (TPDC), Tanzania Electric Supply Company Limited (TANESCO) and Tanzania Development Finance Company Limited (TDFL) as well as Globeleq, a leading independent power producer solely focused in Africa.
Songas Chief Financial Officer, Anael Samuel said TANESCO will receive about TZS2.2billion while TPDC will receive an estimated TZS6.6billion, both amounts will be subjected to withholding tax. The amounts are determined by each entity’s shareholding in Songas.
Additionally, the government also benefits from its 32% shareholding in TDFL, which receives about TZS 1.8 billion in dividends and also through the Tanzanian Revenue Authority from the withholding tax on dividends.
Since 2012 the company has paid TZS121.6 …