2016-05-11 Panama Papers name 45 Tanzanian tycoons

The Citizen. Wednesday, May 11, 2016

Panama Papers name 45 Tanzanian tycoons

At least 45 Tanzanian businessmen emerged yesterday in the latest release of Panama papers that details the names of people and related companies with offshore accounts in territories that are known as tax havens.

The 45 are those shown in the papers as giving Tanzania as their home countries and include names of well known businessmen and some have been or continue to be politicians. Their details were captured in both the Panama and Offshore Leaks, the two sets of millions of documents stolen from the custodians of the information about the shadowy records of some of the world’s mighty leaders and business conglometarates.

There is nothing in these papers to suggest wrong doing by the named Tanzania individuals but the International Consortium of Investigative Journalists (ICIJ) who published the data, say the information would help expose the secret dealings of those who keep their moneies in the offshore accounts, usually in small countries known to shield business operations from tax responsibilities.