"Swala launches 49bn/- trust for community development"

Swala Oil and Gas (Tanzania) plc has launched Swala Energy Trust Company Limited (the “Trust”).  The Trust will own 7.5 million shares in Swala and will invest profits from the gradual sale of the same to support and uplift the welfare of the communities where the oil and gas company operates...

These shares will be used to generate venture capital to finance community-oriented development projects in Swala’s areas of operations.  The trustees of the Trust will be entitled to sell up to 10 percent of the 7.5 million shares every year to support these investments, and will work closely with local and existing structures to run a variety of programs that will benefit local communities.