Tanzania Mining Laws Under Scrutiny
CEO of Centurion Law Group NJ Ayuk was interviewed by CNBC Africa about the new mining laws in Tanzania. Among other things, the laws will give the governments the rights to renegotiate all current contracts and stipulates dispute resolution must take place in Tanzania.
“Does this legislation actually stifle growth in that sector? Does it stifle development and does it really, really ensure that investors can continuing investors in Tanzania?” Ayuk asks in the interview. “Because the issue here is that most of those investing, they are not Tanzanians. They are foreign investors. So you have to create incentives for them to continue putting money into the country while protecting the nationals of the country and ensuring that governments gets its fair share.”
Watch the interview here.