Local Contractors Face Payment Delays Compared to Foreign Firms

TLDR

• Marwa expressed hope that by 2050, local contractors would be executing at least 80 per cent of the value of public projects, enabling more resources to circulate within the domestic economy while equipping Tanzanian.
• Speaking during the launch of the Vision 2050 implementation instruments and a special public-private dialogue chaired by President Samia Suluhu Hassan, Tanzania United Contractors and Allied Services Association.
• The chairman stated that records from the Contractors Registration Board (CRB) show that of about 12,400 registered contractors, approximately 98 per cent are Tanzanians, while foreign firms account for only two per.
• He, however, noted that the two per cent of foreign contractors execute more than 70 per cent of projects by value, leaving the vast majority of local contractors to compete for the remaining share.
• Foreign contractors are paid on time because of contractual arrangements, while local contractors often experience delays in payment.