Josephine Christopher is a senior business journalist for The Citizen and Mwananchi newspapers
Mwananchi Communications Limitted
Dar es Salaam. The government has issued eight directives aimed at strengthening the performance of companies in which it holds minority stakes, as part of efforts to accelerate Tanzania’s transition to upper-middle-income status under the Vision 2050 development blueprint.
Speaking at the opening of the Minority Interest Directors Forum 2026 (MIF 2026) in Arusha on Monday, March 16, 2026, the Minister for Finance, Mr Khamis Mussa Omar, said the measures are designed to ensure such firms operate more strategically, transparently and profitably, while contributing meaningfully to national economic transformation.
At the forum organised by the Office of the Treasury Registrar (OTR), Mr Omar said boards and management must align corporate strategies with national development priorities and global economic trends to ensure investments respond to evolving markets and support inclusive growth.
He also urged firms to leverage technology to enhance transparency, strengthen governance systems and build public trust.
The directives further call for forward-looking governance that enables boards and executives to anticipate risks and respond to emerging opportunities in an increasingly competitive global economy.
The government is also encouraging stronger collaboration among companies to facilitate knowledge-sharing, unlock new opportunities and generate greater collective impact.
Mr Omar emphasised the importance of robust governance frameworks anchored in accountability, transparency and ethical leadership to ensure public investments deliver sustainable returns.
He said the companies must adopt performance-driven strategies to improve efficiency, boost profitability and deliver greater value to both shareholders and the government.
The minister also stressed the need to strengthen economic and competitive intelligence so that decision-making is guided by reliable market data, enabling firms to improve productivity and remain competitive in regional and international markets.
He further underscored the importance of constructive engagement between the government and the private sector, noting that strong partnerships are critical in unlocking investment opportunities and accelerating national development.
“This calls for a deliberate shift in mindsets and modes of operation—from traditional oversight to foresight-driven leadership that emphasises anticipation, agility and innovation,” he said.
“This should go hand in hand with optimisation of every investment in your companies to yield maximum financial and economic returns. Without such a shift, we will be unable to achieve the aspirations enshrined in Dira 2050.”
Mr Omar urged directors and executives to embrace forward-looking leadership and address challenges affecting the performance of their companies.
He also challenged leaders of minority interest firms to take full responsibility for improving performance and ensuring long-term sustainability.
“We must also aspire and work towards ensuring that more minority interest companies grow, evolve and, most importantly, generate sustainable financial returns for the benefit of shareholders, the government and the country at large,” he said.
Permanent Secretary in the President’s Office (Investment), Dr Fred Msemwa, reaffirmed the government’s commitment to improving the business environment to strengthen private sector participation.
“We will do whatever it takes, including reviewing legal and policy frameworks, as we recognise that the private sector is a key driver in enabling Tanzania to realise the goals of Dira 2050,” he said.
The Treasury Registrar, Mr Nehemiah Mchechu, said the forum—now in its third edition since its launch in 2024—has become an important platform for leaders of minority interest companies to reflect on governance, performance and their strategic role in Tanzania’s economic transformation.
“In today’s rapidly evolving economic and technological landscape, leadership can no longer be confined to overseeing the present—it must also anticipate the future,” he said.
Mr Mchechu added that effective governance in the modern era requires more than accountability and supervision.
“It calls for leaders who are strategic in outlook, agile in thought, innovative in action, and bold enough to prepare our institutions for opportunities that lie beyond the horizon,” he said.
