Lake Trading are a family company
In our survey on Tanzania in our April edition, pages 28-32, we incorrectly referred to Lake Trading Co Ltd and Kibaha Tannery as being members of another group when, in fact, Lake Trading are a 100% privately owned company and they in turn wholly own Kibaha Tannery.
According to Abubakar Albaiti, managing director of Lake Trading Co Ltd, Lake Trading were created in 1970 by his father, Shariff Albaiti,who at that time had just completed a 20 year career as branch manager for the old East African Trading Company Ltd who closed their activities in Tanzania in 1969. Since that time, Lake Trading have been involved in the hides and skins trade.
Kibaha Tannery was built by Lake Trading Co in the late nineties and was operational in 2000. Currently all the trading and the tannery are managed by three brothers, Alawi, Hussein and Abubakar.
We apologise sincerely for any confusion this may have caused and wish Lake Trading and Kibaha every success with their business.
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