Brief Note

October 2017

Survey of Companies with Foreign Liabilities in Tanzania

In this month's industry update, we note that the Bank of Tanzania (BoT) has issued
on 23rd October, 2017 a press release notice (the Press Release) stating that a survey
of companies with foreign liabilities in Tanzania will be conducted by the BoT together
with the National Bureau of Statistics and the Tanzania Investment Centre. The
proposed survey on foreign liabilities usually takes place annually and this year it will
take place during the months of November 2017 to March 2018.

The foreign liabilities survey will allow the three The Press Release encourages the
public institutions to collect data which will Targeted Respondents to cooperate
help: and participate fully in the proposed
survey as this is a legal requirement,
- determine the impact of foreign private and information collated from the
investments on the Tanzanian economy; survey shall be used for statistical
- update the country's Balance of Payments purposes only.
and International Investment Position; and
Clyde & Co is happy to respond to
- allow the relevant Tanzanian public questions or discuss with you further
institutions to formulate necessary the requirements of the proposed
macroeconomic policies. survey of companies with foreign
liabilities in Tanzania should you
The Press Release indicates that there are require assistance.
targeted respondents (Targeted Respondents)
that must comply with the proposed survey which Contact details:
will cover data for the periods 2015 and 2016.
Peter Kasanda
Unfortunately, the Press Release does not Partner
specifically identify the Targeted Respondents that T: +255 768 98 3000
must comply with the survey. However, it is safe to E: peter.kasanda@clydeco.com
conclude that the Targeted Respondents may be
any person, company or establishment which has Michaela Marandu
acquired or to some degree is linked commercially Senior Associate
to arrangements which involve foreign liabilities e.g. T: +255 768 98 3000
E:michaela.marandu@clydeco.com
foreign loans to Tanzanian companies extended by
foreign entities or foreign shareholders the Tenda Msinjili
Targeted Respondents in this case would be the Senior Associate
Tanzanian companies. T: +255 768 98 3000
E: tenda.msinjili@clydeco.com