THE public is advised to disregard false information circulating on social media claiming that the Tanzania Electric Supply Company Limited (TANESCO) has lost a case in the United States and has been ordered to pay compensation of TZS 320 Billion.
THE FACTS:No such ruling has been issued by the World Bank tribunal-ICSID (International Centre for Settlement of Investment Disputes) at the end of last week.
The claim that TANESCO was ordered to pay Standard Chartered Bank Hong Kong (SCB HK) USD 148.40 million plus interest is FALSE.
The false report also claims that SCB HK bought the IPTL loan from Malaysia’s Danaharta Bank for USD 76.1 million.
Members of the public are urged to ignore this information which is being spread on various platforms with the intention to mislead the public.
For verified updates, follow official channels of TANESCO and the Ministry of Energy.