main navigation menu
World Bank building

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

Young woman bending down to tending to her outside chores

Explore different types of political risk insurance guarantees provided to investors and lenders.

Hyundai building

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

Stay Connected
x
Tanzania

Zanzibar Telecom Limited (Zantel)

$3.2 million
Telecommunications
Project Brief
Not Active

Project Facts

Project Facts

Project Facts

Tanzania
Project ID
3230
Guarantee Holder
Kintbury Investments Limited
Meeco International Company Limited
Investor Country
Liechtenstein
United Kingdom
Project Type
Non-SIP
Fiscal Year
1999

MIGA issued guarantees totaling $3.2 million for equity investments by Kintbury Investments Limited of the United Kingdom, and Meeco International Company Limited of Lichtenstein, in the establishment of a telephone network in Tanzania. The Agency covers Kintbury's and Meeco's investments against the risks of transfer restriction, expropriation, and war and civil disturbance.

Zantel will independently provide for the supply, installation, civil works and commissioning of state-of-the-art telecommunications services. It will be independent from Tanzania's state telephone company and the country's two main mobile telephone service providers. The main objective of granting two licenses-basic services and cellular-to Zantel is to increase Zanzibar's telephone penetration ratio from 0.6 telephones to 4.5 telephones per 100 people.

It is estimated that local companies and service providers will benefit from $2.5 million of project contracts, while on-going procurement is estimated at $500,000 per year. Over each of the first five years of operation, the project is expected to generate almost $5 million in government revenues and have a net positive impact on the country's foreign exchange.