How Tanzania government rescued struggling Udart
Published by
The Citizen

Dar es Salaam. UDA Rapid Transit (Udart) managing director John Nguya has described the government decision to increase its stake in the bus operator was crucial considering the financial situation the company was facing.In 2019, the government increased stake in Udart from 51 percent to 85 percent in a move to retake firms that it said were controversially privatised.Mr Nguya said the bus company, which is the operator of the country’s rapid transit since 2016, faced financial challenges following floods that damaged its buses.He said, due to few buses being in operation, daily revenue from f…

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HEDGE accordingly