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Management of TANESCO
Management of TANESCO
Tanzania Electric Supply Company Limited (TANESCO) is established under the Companies
Act, No.12 / 2002. This is a company limited by shares and the only shareholder is the
Government of the United Republic of Tanzania owning 100% shares. Therefore this is not like
other companies, being owned by the Government by 100%, it is also a Public Corporation,
governed under the Public Corporation Act, No. 2/1992 and its regulations.
Board of Directors
There are nine (9) Directors as provided for under Article 93 of the Company's Articles of
Association.
Board Chairman is appointed by the President of the United Republic of Tanzania while other
eight Directors are appointed by the Minister for Energy and Minerals. Out of eight Directors,
one represents the Shareholder (Treasury Registrar), one represents the Ministry of Energy and
Minerals while others are from private sector, independent businessmen and professionals.
Under the modern Corporate Governance much emphasis is put on combination of Members of
the Board, this has been taken care of in TANESCO more than 50% of the Board Members are
non- governmental officials. The following are the major responsibilities of the Board of Directors
derived from;
Memorandum and Articles of Association (MEMARTS)
i.
ii.
Board of directors has powers to appoint other officers on salary basis and on the terms
and conditions that deems fit
Board of Directors has powers to exercise supervision on the appointed management
The following are the Key Performance Indicators (KPI) of the Board of Directors derived from
The Minister and Permanent Secretary of Energy and Minerals directives during the
inauguration of the Board in 2011.
OBJECTIVE
TARGET
2.
Promote infrastructural
Corporate
governance
Management
and
Financial
and performance
4.
Financial status.
Infrastructure improvement
Customer Care
10
To reform the PMU for efficiency and value for money procurements
11
Succession Plan
12
Organizational structure
13