The Government of Tanzania, the Department for International Development, the UK’s Serious Fraud Office and BAE Systems have now signed a Memorandum of Understanding enabling the payment of £29.5 million, plus accrued interest to educational projects in Tanzania.

The payment follows the settlement agreed between BAE Systems and the SFO.

Following the conclusion of the settlement agreement, Dick Olver, BAE Systems Chairman commented:

“We are glad to finally be able to make the payment to the Government of Tanzania and bring this matter to a close. We are grateful to DFID for their work in agreeing the Memorandum of Understanding with the Government of Tanzania.”

Press contacts:

Stephen Bethel
BAE Systems
01252 383074
07793 426328

Leonie Foster
BAE Systems
01252 383777/07540 630168