Lowassa issues industry warning

Chadema presidential candidate, Mr Edward Lowassa, addresses a crowd during a political rally in Dar es Salaam, Tanzania, on August 29, 2015. Mr Lowassa says that his government will nationalise dormant industries if he will win the General Election in October. PHOTO | DANIEL HAYDUK | AFP

What you need to know:

  • Addressing thousands of wananchi, Mr Lowassa reiterated that his presidency will transform Tanzania into a people driven economy at a “supersonic speed.”
  • According to him his government will abandon the tendency of handing over all resources to foreign investors by making sure that locals have a stake of at least 30 per cent at each investment contract.

GEITA, TANZANIA

Chadema presidential candidate Mr Edward Lowassa says that his government will nationalise dormant industries, which were privatised by the ruling party in the past if he will win the General Election next month.

Addressing thousands of wananchi, Mr Lowassa reiterated that his presidency will transform Tanzania into a people driven economy at a “supersonic speed.”

The former premier who is standing on a ticket backed by a coalition of four opposition parties however said the move would not suggest a policy to frustrate foreign investors.

“I want the world to understand that we will not be the first government to nationalise dormant industries as many countries have done so and reaped the fruits,” said Mr Lowassa amid wild cheers from his supporters at the rally held at Chato, the home area of CCM’s rival for the presidency Dr John Magufuli.

I WILL NOT LET YOU DOWN
He told the residents to have faith in him and promised not to let them down.

“I am humbled by your reception because I did not expect this huge turnout. All I can say is to rest assured that my presidency would put your interests first of anything. I will make sure that Tanzania realises its dream of a better life for all,” Mr Lowassa said.

The former premier, who defected from the ruling party to launch his bid on the opposition ticket, assured small scale miners and those who live near mining sites that his government will protect their interests.

According to him his government will abandon the tendency of handing over all resources to foreign investors by making sure that locals have a stake of at least 30 per cent at each investment contract.

IDEALS QUESTIONED
Addressing the crowd at Stand Mpya grounds in Chato, the former Prime Minister Mr Fredrick Sumaye, who defended Mr Lowassa against corruption allegation, faulted CCM presidential candidate over his promise to fight graft.

According to him, Dr Magufuli lacks moral authority to make such kind of promise because he has failed to fight corruption in the Works Ministry which he has been heading.

“Kikwete administration owe contractors who implemented various roads projects, more than Sh1.4 trillion out of which Sh900 billion is a penalty for outstanding arrears; why did Magufuli’s ministry sign those contract while he knew that the government didn’t have money to honour them,” Mr Sumaye queried.