Corporate Governance

/Corporate Governance

Corporate Governance

Tanzania Petroleum [Local Content Regulation] Requirements: How Effective Is this Regulatory Tool?

Local Content (LC) is defined as the quantum of composite value added to, or created in, the economy of Tanzania through deliberate utilization of Tanzanian human and material resources and services in petroleum operations in order to stimulate the development of capabilities indigenous of Tanzania and to encourage local investment and participation1.It can also be [...]

Right of Occupancy in Tanzania

The historical background of land tenure, or ownership, in Tanzania can literally be divided into three eras, namely the pre-colonial, colonial and postcolonial eras. During all periods, land has been managed administratively and through various forms of legal tenure systems. Below is a brief history of our country’s land tenure systems.  It’s our hope that [...]

What Foreigners Need to Know

 The Legal Framework When The Land Act No. 4 of 1999 came into force on the 1st of May 2001, it restricted the foreign ownership of land in Tanzania. In terms of GN No. 485 of 2001, foreigners are only entitled to own land in Tanzania for investment. However, Tanzania nevertheless encourages foreign investments in [...]

Duties of a Company Secretary in Tanzania

In Tanzania, The Companies Act No.12 of 2002 is the law that stipulates the provisions regarding regulation and the control of companies. When companies are incorporated, they come into existence for a particular purpose.  This purpose is executed and carried out by individuals, as mandated under The Companies Act, who carry out these activities in [...]