Magufuli gets it right with Acacia/ Barrick Gold

[gout]

• Tweet

Way to go in negotiations for the resource rich but dirty poor Mwafrika nations. In the long term seems Magufuli will get Tanzania on steroids.
That is good money - short of dividends Treasury gets from Safaricom.

The tax deal includes the payment of $300 million to settle outstanding tax and other disputes, the lifting of a concentrate export ban, and the sharing of future economic benefits from mines on a 50-50 basis, Barrick said in a statement on Sunday.

https://www.reuters.com/article/us-barrick-gold-tanzania/barrick-gold-reaches-deal-with-tanzania-over-acacia-mining-idUSKBN1WZ0DL

[RV Pundit]

He has scared investment..no serious investors will risk his money in place the president wants play the nationalism Messiah.Natural gas deal gone.That was the game changer.Oil pipeline not happening.Economy is in doldrums despite the cooking

[RVtitem]

Magufuli has done massive effort to reform Tanzania mining sector. In his own words, it's better if there are no deals at all, than to settle for sloppy deals that benefit a few elite and outsiders.

His reforms not only cover big corporations but also go as far as taking care of small miners who are now reaping big from new set up of well controlled mineral markets at district level.

[RV Pundit]

Magufuli has done massive effort to reform Tanzania mining sector. In his own words, it's better if there are no deals at all, than to settle for sloppy deals that benefit a few elite and outsiders.

His reforms not only cover big corporations but also go as far as taking care of small miners who are now reaping big from new set up of well controlled mineral markets at district level.

why are both imf & wb crying the economy is bad and magufool is cooking national accounts..amnesty international and human rights watch crying about democracy & human rights abuses.Magufool is a leader iuto darkness..there is capital flight and fdi is drying up as he digs in.What he cannot cook is detoriating TZ shillings against the dollar

[Nefertiti]

Magufuli has done massive effort to reform Tanzania mining sector. In his own words, it's better if there are no deals at all, than to settle for sloppy deals that benefit a few elite and outsiders.

His reforms not only cover big corporations but also go as far as taking care of small miners who are now reaping big from new set up of well controlled mineral markets at district level.

why are both imf & wb crying the economy is bad and magufool is cooking national accounts..amnesty international and human rights watch crying about democracy & human rights abuses.Magufool is a leader iuto darkness..there is capital flight and fdi is drying up as he digs in.What he cannot cook is detoriating TZ shillings against the dollar

Kenya should be milking this FDI

[gout]

Jubilee makes the human rights record for Magufuli saintly. Guys have run out the civil society out of town since ICC, crazy Mau evictions, electoral killings, Miguna deportation, Wanjigi axe break ins, buying off/threatening opposition leader and now even crazier strangling of the judiciary!! They have made a colonel into a parrot. 

[Kim Jong-Un's Pajama Pants]

Way to go in negotiations for the resource rich but dirty poor Mwafrika nations. In the long term seems Magufuli will get Tanzania on steroids.
That is good money - short of dividends Treasury gets from Safaricom.

The tax deal includes the payment of $300 million to settle outstanding tax and other disputes, the lifting of a concentrate export ban, and the sharing of future economic benefits from mines on a 50-50 basis, Barrick said in a statement on Sunday.

https://www.reuters.com/article/us-barrick-gold-tanzania/barrick-gold-reaches-deal-with-tanzania-over-acacia-mining-idUSKBN1WZ0DL

Magufuli's ideas come from a good place.  But  governance by drama is not the same thing as effective governance.  But maybe he has to do that because entrenched interests can easily fight back.

[RVtitem]

This video gives a general idea of the mining sector change