TANZANIA STANDARD BANK INVESTIGATION

17.03.2016

PRESS RELEASE

PETITITON TO DEMAND INVESTIGATIONS AGAINST STANDARD BANK UK

Today we, more that 2000 Tanzanians in the Diaspora representing all Tanzanians inside and outside the country, submitted our petition demanding reopening of the investigations against Standard Bank alleged involvement in bribery in Tanzania’s $600 sovereign bonds.

We urge Serious Fraud Office to reopen the investigation into Standard Bank and its role in alleged bribery relating to a $600 million bonds for our country, Tanzania. We deserve to know the full truth about corruption that affects our country.

The $600 million bond that Standard Bank raised for the government of Tanzania has saddled our country with a significant debt. There has been suggestions that the bond, the mandate for which was given to Standard Bank without any competitive bidding ,was not a good deal for Tanzania and that we are paying a significantly higher interest rate than we might otherwise have done with with a more competitive bond. There has been little transparency over what the money raised by the bond was used for and whether it was used for public good or for the private gain of Government Officials.

We are deeply concerned at recent claims made by one of the Standard Bank employees In Tanzania who is alleged by Standard Bank and your office to have committed bribery,that standard Bank misrepresented the truth and supressed material fatcs about its involvement in order to get the deferred prosecution Agreement by the Serious Fraud Office.This is not the first time the SFO has entered into an agreement with a company in relation to corruption in Tanzania that has left us with a bitter taste in our mouth. In 2010,the settlement with BAE systems over alleged corruption in a radar deal left many Tanzanians feeling that the war on corruption is merely words. Those in the UK who commit or are complicit in corruption appear to us untouchable.

Under the DPA, Standard Bank was required to state that it had not provided the SFOwith misleading o incomplete information and that it would notify the SFOif it becames aware of further relevant material. We are very sure the Bank suppressed information with material facts in order to avoid bigger penalty.As a result we request reopening of the investigations.

We urge Justice Leveson to recall a DPA signed between SFO and Standard Bank so that the bank be tried for bribery and Tanzanians escape this odious debt which causes massive pressure on expenditure for social services including education and health

YOU CAN VIEW OUR PETITION at www.change.org

Should you need more information please do not hesitate to contact me

Ayoub Mzee

NEWDEAL AFARICA

TEL +447556130219