Africa-Press – Tanzania. A mining firm, Barrick-Twiga, is among the contributors of 1.028tril/- in dividend payout Tanzania earned in 2024/25, after it poured in over 90bn/-.
The gold mining firm is in the category of companies in which the government holds shares.
The partnership between Barrick Gold Corporation and the government of Tanzania through Twiga Minerals Corporation continues to demonstrate a win-win situation after the Tanzanian government received 93.6bn/- in dividend payout.
Barrick-Twiga was also awarded first place in the category of companies in which the government holds shares for this year.
Speaking on this success, the firm’s Country Manager,Dr. Melkiory Ngido said, besides paying substantial dividends, the firm has also contributed to government revenue through various levies in mining activity, and boosted the national economy.
In addition to dividend contributions, the firm’s investments in Tanzania continue to improve citizens’ lives through community development projects funded via Corporate Social Responsibility (CSR) from the North Mara and Bulyanhulu mines.
On his part, addressing invited dignitaries on Dividend Day at the State House in Dar es Salaam on Tuesday, Treasury Registrar Nehemiah Mchechu said Twiga Minerals had continued recording impressive performance in the mining sector.
The theme of Dividend Day was “Recognising the growing role of public enterprises in strengthening fiscal sustainability and national self-reliance,” during whichthe dividend was collected together with contributions from government institutions and public enterprises. All these showed an upward trend.
Mr Mchechu said this year, they had collected Sh91.28 trillion in dividends, contributions, and revenue, which would be directed towards improving education, healthcare, infrastructure, and other key sectors in the country.
He explained that success in collecting dividends and contributions was due to the good work done by the management and boards of various public enterprises.
“Your Excellency, the boards and management of these institutions are truly implementing your vision and directives concerning the contributions of these enterprises by changing working culture and mindset, thereby improving productivity in their respective areas,” explained Mr Mchechu.
He emphasised that the vision and directives of President Dr Samia Suluhu Hassan to reform public institutions—both those fully owned and those partially owned by the government—aimed at increasing production efficiency and continued generating revenue and dividends for the government.
“It is crucial to ensure the seed of development that has been planted continues blossoming and bearing fruit for the greater good of our nation,” he added.
President Dr Samia Suluhu Hassan urged the Treasury Registrar to make an effort so that public institutions and enterprises continue contributing through dividends and payments to the government’s central fund.
“This 1.028 trillion collection is a positive step towards reducing dependency on foreign aid and beginning self-reliance,” said Dr Samia Suluhu Hassan.
She called on leaders of public institutions and enterprises to continue safeguarding capital and investments and minimise revenue losses to grow their incomes and increase dividend contributions to the government.
Barrick-Twiga was also ranked first for paying a dividend of 84bn/- to the government, while the previous year it ranked second with a dividend of 53.5bn/-
Non-tax revenue includes dividends from profitable state-owned firms, 15 per cent contributions from gross revenue surplus remittances and other statutory transfers, all of which are channeled through the government’s consolidated fund.
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