Browsing: TDFL

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 …