Simba SC, FCC to discuss outfit's investment

20Apr 2021
Ismail Tano
Dar es Salaam
The Guardian
Simba SC, FCC to discuss outfit's investment

MINISTER for Information, Culture, Arts and Sports, Innocent Bashungwa, has announced that Simba SC was yesterday expected to hold talks with Fair Competition Commission (FCC) to discuss the future of investment in the side.

The minister's statement came shortly after he answered a question by Mlalo Constituency's Member of Parliament, Rashid Abdallah, on the issue, during a  Parliament session.

Recently, Simba SC's Board of Directors' Chairman, Mohamed Dewji, posted a message on his social media account expressing his displeasure with the FCC for delaying the investment process at Simba.

Bashungwa said that the government has looked into the issue, so, it will do all it can to complete the matter as soon as possible and see to it Simba enter into a better system of operational change.

"The government has looked into this matter and we will work on it so that Simba can achieve it, so on Monday Simba will sit down with the FCC to continue seeing how they will achieve the transformation,'' he disclosed.

The government noted the obstacles that have emerged in the process were to be dealt with yesterday when the FCC held talks with Simba SC.

Dewji last week pointed out through his social network page that he was not happy with the FCC, claiming that his club's leadership and the commission was delaying the investment.

The club's operational transformational process gives the investor 49% of the shares and 51% of the shares to members of the club through the FCC.

The FCC initially issued Simba SC a 21-day notice of the process.

Although the FCC has previously reported that one of issues it needs in the process is clarification on the exact amount that the investor Dewji should invest to overcome the confusion.

The statement, which came from the commission's director, stated that despite a number of unresolved issues, the commission sought clarification on the actual amount that the investor should invest as the terms of the previous agreement are different from those stated in the media.

Later Simba made it clear that the amount in the agreement is 19.6bn/- while noting that the investor has decided to pay more than the amount specified in the agreement to reach 20bn/-.

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