Dar es Salaam—The Business Registrations and Licensing Agency (BRELA) has canceled the registration of 11 companies that violated registration requirements by operating outside the objectives outlined in their constitutions.
The companies include LBL Mtwara Media Company Limited, LBL Morogoro Media Company Limited, LBL Geita Advertising Media Limited, LBL Mbeya Media Limited, LBL Future Vision Advertising Agency Company Limited, and LBL Mbezi Advertising Media Company Limited.
Others are LBL Ubungo Media Limited, LBL Mabibo Media Company Limited, LBL Mbagala Media Company Limited, LBL Gongolamboto Media Advertising Company Limited, and LBL Dar es Salaam Kigamboni Advertising Company.
This decisive action was announced on Wednesday, March 5, 2025, in Dar es Salaam by BRELA’s Director General, Godfrey Nyaisa, who emphasized the importance of compliance with legal standards in business operations.
The cancellation comes amidst a growing trend of companies and projects promising significant profits in a short time, often leading to the rise of pyramid schemes.
“These schemes pose a risk to the financial stability of citizens, as they lure individuals into investing in economically unrealistic ventures, ultimately resulting in the loss of their capital,” underscored Mr Nyaisa.
In addition to the cancellation of these registrations, BRELA urged the public to remain vigilant and report any businesses operating outside the law.
Such businesses can disrupt fair competition and erode investor confidence in the local market, leading to broader economic challenges.
A strong framework for business management is essential to ensure that the private sector contributes effectively to sustainable economic growth.
Economists emphasize that a stable business and investment environment is crucial for attracting both domestic and foreign investment.
Regulatory measures like these reflect the government’s commitment to improving the business landscape, preventing fraud, and fostering transparency in economic activities.
For the future of Tanzania’s economy, it is vital for all stakeholders to collaborate in ensuring that businesses adhere to the established laws and guidelines.
This collaboration will help promote development and national prosperity, leading to a more financially literate community and greater investor confidence.
Ultimately, the country stands to benefit from sustainable economic growth characterized by equity and efficiency.
