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2007 Assessment

Tanzania: Integrity Indicators Scorecard

Tanzania: Integrity Scorecard Report > Sub-Category: State-Owned Enterprises
Indicators		Score
64	In law, is there an agency or equivalent mechanism overseeing state-owned companies?	100
65	Is the agency or equivalent mechanism overseeing state-owned companies effective?	50
66	Can citizens access the financial records of state-owned companies?	80

Indicator and sub-Indicator Details

In law, is there an agency or equivalent mechanism overseeing state-owned companies?

64: In law, is there an agency or equivalent mechanism overseeing state-owned companies?

Score:

YES

Comments:

References: Capital Markets and Securities Authority Act 1994 as amended in 1997 [ LINK ]

Is the agency or equivalent mechanism overseeing state-owned companies effective?

65a: In law, the agency or equivalent mechanism overseeing state-owned companies is protected from political interference.

Score:

YES

Comments:

References: Capital Markets and Securities Authority Act 1994, as amended in 1997 [ LINK ]

65b: In practice, the agency or equivalent mechanism overseeing state-owned companies has a professional, full-time staff.

Score:

100

Comments:

References: Brian Cooksey Sept. 20, 2007 Dar es Salaam, Tanzania

65c: In practice, the agency or equivalent mechanism overseeing state-owned companies receives regular funding.

Score:

100

Comments:

References: Brian Cooksey Sept. 20, 2007 Dar es Salaam, Tanzania

65d: In practice, when necessary, the agency or equivalent mechanism overseeing state-owned companies independently initiates investigations.

Score:

100

Comments:

References: Brian Cooksey Sept. 20, 2007 Dar es Salaam, Tanzania

65e: In practice, when necessary, the agency or equivalent mechanism overseeing state-owned companies imposes penalties on offenders.

Score:

100

Comments: The authority cannot impose penalties. Court action is necessary for this.

References: Brian Cooksey Sept. 20, 2007 Dar es Salaam, Tanzania

Can citizens access the financial records of state-owned companies?

66a: In law, citizens can access the financial records of state-owned companies.

Score:

YES

Comments:

References: Public Corporation Act Chapter 257 Section 38

Capital Markets and Securities Act Chapter 79 through prospectus

66b: In practice, the financial records of state-owned companies are regularly updated.

Score:

100

Comments:

References: Brian Cooksey Sept. 20, 2007 Dar es Salaam, Tanzania

66c: In practice, the financial records of state-owned companies are audited according to international accounting standards.

Score:

100

Comments:

References: Brian Cooksey Sept. 20, 2007 Dar es Salaam, Tanzania

66d: In practice, citizens can access the financial records of state-owned companies within a reasonable time period.

Score:

100

Comments:

References: Brian Cooksey Sept. 20, 2007 Dar es Salaam, Tanzania

Peer Review Comments: Officialdoms normally are skeptical about queries from journalists about information that is not readily available in companies' financial reports. Only the basic details are provided. It would take time and require special permission to access the complete financial data of state companies.

66e: In practice, citizens can access the financial records of state-owned companies at a reasonable cost.

Score:

100

Comments: Some companies publish their financial records in the press.

References: Brian Cooksey Sept. 20, 2007 Dar es Salaam, Tanzania