No October Surprise Likely in Tanzania
Bracewell’s Adam Blythe spoke with Energy Voice reporter Ed Reed about Tanzania’s energy market ahead of that country’s presidential election. With President John Magufuli eager to retain power, there seems little prospect for political change and therefore little chance of improvements in the country’s approach to business.
“It seems unlikely that President Magufuli will change tack. His term has seen various laws passed which more strictly regulate how international companies may invest and participate in Tanzania’s natural resource industries and he has given no signal of pursuing any different approach,” said Blythe.
“Approvals for M&A transactions are often linked with resolving the applicability of taxes that the Tanzanian revenue authority may seek to apply to deals involving Tanzanian assets.”