DAR ES SALAAM, 27 October 2026 — JATU PLC, the agribusiness and network marketing company that was once the Dar es Salaam Stock Exchange’s first agri-based listing, has announced it is resuming operations after more than five years of suspension. The announcement comes about ten weeks after its founder and former chief executive, Peter Gasaya, was released from remand under a plea agreement with the Director of Public Prosecutions (DPP).
The company’s statement, however, gives no financial figures, no timeline and no detail of how members and shareholders who lost money will be treated. That leaves investors with as many questions as answers.
What the company announced
In a press release dated 27 October 2026, signed by Deogratius C. Bubelwa on behalf of the Board of Directors, JATU PLC said it was resuming operations following the conclusion of the legal proceedings and settlement matters that had suspended its business since 2021.
The company acknowledged that the suspension caused significant challenges and uncertainty for stakeholders. It thanked shareholders, employees, business partners, creditors, regulators and the public for their patience.
JATU said it would rebuild its operations progressively and on a sustainable basis, while strengthening its governance, management and operational systems. It has engaged SSC Capital as a consultant to support restructuring and business recovery, including strengthening its organisational, financial and operational framework. SSC Capital’s CEO, Salum Awadh, co-signed the release.
The company promised further details “in due course” on its operating structure, business activities, management arrangements, and investment and commercial programmes.
From DSE debut to suspension
JATU, short for Jenga Afya Tokomeza Umaskini (“Build Health, Eradicate Poverty”), grew out of a youth-led savings and credit cooperative (SACCOS) and was registered as a public company in October 2016. It promoted block farming, agro-processing and network marketing.
In November 2020 it listed on the DSE’s Enterprise Growth Market with 2,164,349 shares at TSh 420 each, becoming the first agri-based firm on the exchange. The share price climbed to TSh 1,200 within months. In June 2021, on guidance from the Capital Markets and Securities Authority (CMSA), the DSE suspended trading to accommodate an IPO of 15 million new shares and a share split.
Over the following year the company’s troubles deepened. Members in several regions complained publicly that they had lost money invested in JATU farming projects, and in August 2022 a government minister asked the Prevention and Combating of Corruption Bureau (PCCB) to investigate the company. That month, general manager Mohamed Issa Simbano was appointed acting CEO.
The case against Peter Gasaya
On 29 December 2022, Gasaya appeared at the Kisutu Resident Magistrate’s Court. Prosecutors alleged that between 1 January 2020 and 31 December 2021 he fraudulently obtained TSh 5,139,865,733 from JATU SACCOS. The allegation was that he claimed the money would be invested in farming to generate profit while knowing this was untrue.
In April 2023 the DPP withdrew that case, but Gasaya was immediately re-charged in an economic crimes case with two counts: obtaining the money by false pretences and money laundering. The laundering count related to the transfer of the funds from a JATU SACCOS bank account to a JATU PLC account.
Because economic crimes of this kind are not bailable at that level, Gasaya remained on remand while investigations continued. Court reports show he wrote to the DPP in April 2024 seeking to negotiate a plea. By November 2024 he had spent 690 days in custody. In February 2025 he asked the court to stop bringing him to hearings until the investigation was complete.
The plea deal and release
In August 2026, after roughly three years and eight months on remand, Gasaya was released along with co-accused Nicholaus Fuime, Esther Kiya and Mariam Mrutu. They and JATU PLC as a company reached a plea bargaining agreement with the DPP. According to local media reports, assets belonging to JATU PLC that had been held during the case were returned to JATU SACCOS, the complainant.
The full terms of the agreement have not been widely reported. Three other accused, Habiba Magero, Mariam Kusaja and Lucy Izengo, were not part of the deal and their case was set to continue.
The share price
JATU shares are trading well below their peak. The stock closed at TSh 200 on 23 October 2026, after falling 13% that week and nearly 15% the week before, down from TSh 270 at the start of October. That is less than half the 2020 listing price and about a sixth of the 2021 high.
Market commentators have described JATU as a speculative, illiquid counter, where small trades can move the price sharply. Its reaction to today’s announcement will be one of the first signals of how investors view the comeback.
What investors and members will be watching
The end of the legal case removes the biggest obstacle to JATU’s return, and engaging an outside adviser points to a structured process. But the announcement leaves key questions open:
- What is left in the company? The release contains no figures on assets, liabilities or cash. If significant assets were transferred to JATU SACCOS, the PLC’s balance sheet may be much smaller than shareholders expect.
- What about SACCOS members? Many people who say they lost money were cooperative members rather than PLC shareholders. The statement does not set out how their claims will be handled.
- Who will lead the company? The release does not mention Peter Gasaya or say whether he will have any future role.
- Where are the accounts? No financial results appear to have been published since the 2021 period.
- What do the regulators say? Any statement from CMSA or the DSE on the company’s status will be closely watched.
JATU says it is committed to transparency and will provide updates as the process moves forward. Whether the company can rebuild trust will depend on how much it discloses in the weeks ahead.
This article is for information only and is not investment advice.
Sources
- JATU PLC / SSC Capital press release, 27 October 2026
- Global Publishers – Gasaya and co-accused released (Aug 2026)
- Mwananchi – 690 days in custody (Nov 2024)
- Mwananchi – Court request (Feb 2025)
- The Citizen – Money laundering charges (Apr 2023)
- The Citizen – Jatu turns to outside consultants
- The Chanzo – Investors’ losses (Apr 2023)
- Daily News – DSE weekly report (Oct 2026)
- African Markets – JATU listing (2020)
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