Magufuli launches new bus stand in Msamvu

Dar es Salaam. Morogoro-based Msamvu Property Company Ltd is expected to collect revenue worth Sh3.1 billion by the end of current financial year 2017/18 from a new Msamvu modern bus terminal that was launched today.

The company’s board chairman Eliud Sanga revealed this on Sunday, May 6, at the official launching event that President Magufuli officiated. The phase of the construction started in 2008 and was completed in 2016.

Mr Sanga said the company is operating under a joint venture between Morogoro Municipal Council and LAPF Pension Fund, adding that the new bus terminal has a parking capacity of 110 small vehicles, motorcycle and upcountry buses at once.

Furthermore, Mr Sanga said that the construction has cost Sh16 billion during phase one. He also added that before the expansion the bus terminal was capacity to collect only Sh350, 000 per day. Now they collect Sh3 million per day.

“This bus terminal is very modern, equipped with all social services including waiting rooms, and access to financial services. We plan to expand more in coming days. As I said earlier we are a company and we pay tax to Tanzania Revenue Authority (TRA). Last year alone, we paid Sh152 million,” said the board chairman. Adding that the new bus stand has managed to create 176 employment.

He said under the joint venture, the LAPF owns 60 per cent while the municipal owns 40 per cent of the company. “The municipal has submitted their proposal to the board, requesting LAPF to sell its shares for 100 per cent ownership.”

Mr Sanga added that LAPF pension fund has agreed on this and the board is currently evaluating the matter.

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