The East African Gateway Limited will acquire the entire issued ordinary share capital in the Tanzania International Container Terminal Services Limited (Ticts)
In a significant move aimed at boosting port efficiency and stimulating economic growth, the Tanzanian government is set to make strategic changes in its port sector. The Fair Competition Commission (FCC) in Tanzania has issued a public notice detailing the intention of East African Gateway Limited, a subsidiary of Adani, to acquire the entire issued ordinary share capital in the Tanzania International Container Terminal Services Limited (Ticts), reported bnnbreaking.com.
The acquisition, if successful, could have far-reaching implications for the port sector and beyond. The FCC is currently investigating to evaluate the potential impact of this acquisition on competition. The findings of this investigation will be instrumental in deciding the future course of action.
This acquisition is seen as a strategic move to bolster Tanzania’s economic growth through enhanced port operations
East African Gateway Limited, based in the United Arab Emirates, is poised to establish its foothold in Tanzania, while its parent company, AIPH, is already a significant player in Tanzania’s port sector, controlling four container handling berths at the Dar es Salaam Port. This acquisition is seen as a strategic move to bolster Tanzania’s economic growth through enhanced port operations.
Ticts, a veteran operating at the port for 22 years, was recently asked by Tanzanian authorities to renew its contract. This move, combined with the potential acquisition by East African Gateway Limited, signals a broader strategy by the Tanzanian government to enhance the competitiveness of its ports, especially concerning Kenya’s Port Mombasa.
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