PRECISION AIR RELAUNCHES ITS ENTEBBE ROUTE

• Precision Air affirms 01st of July launch date for Entebbe

Precision Air’s Commercial Director Mr. Robert Owusu yesterday reaffirmed to this correspondent that the long awaited inaugural flights from Dar es Salaam and Kilimanjaro to Entebbe were on course to launch in six days time.He stated that the decision to relaunch flights to Entebbe came after a detailed market study which revealed that there was growing demand for flights between Tanzania and Uganda.

Precision Air halted Entebbe flights in 2013 after which Fastjet entered the route but also withdrew in December last year following a fleet rationalization exercise with left them with no aircraft to remain on the route. Precision Air subsequently decided to step into the gap using their ATR72 aircraft which is more economical to operate on relatively short regional routes.

ETIHAD AIRWAYS AND CHINA SOUTHERN AIRLINES ANNOUNCE CODESHARE PARTNERSHIP

Etihad Airways, the national airline of the United Arab Emirates, and China Southern Airlines, Asia’s largest airline, have announced a new codeshare partnership, which comes into effect on 22 June 2017. This increases the number of codeshare agreements operated by the Abu Dhabi-based airline to 53. 

Under the agreement, China Southern Airlines will put its 'CZ' code on Etihad Airways’ daily services between Beijing (PEK)/Shanghai (PVG)/Chengdu (CTU) and Abu Dhabi.

The codeshare partnership will give China Southern guests the opportunity to book codeshare flights to and from Abu Dhabi, and connect onto Etihad’s network of over 100 destinations worldwide.

Mohammad Al Bulooki, Etihad Airways’ Executive Vice President Commercial, said: “The codeshare partnership with China Southern Airlines is a significant milestone in the airlines’ network development strategy and a key component of its footprint in the China market. This is a further example of our strategy of working with partners to extend our reach, and provide business and leisure travellers with more options.

“China is one of the fastest growing travel markets in the world, and one of the most competitive. By partnering with China Southern Airlines, each airline can use its strengths to benefit the other and offer more choice with enhanced connectivity to all guests, while experiencing the world-class services and products offered by both airlines.

TIGO TANZANIA INVESTS $70 MILLION TO EXPAND NETWORK

Jerome Albou, Chief Technical and IT Officer, Tigo Tanzania

In Summary

Last year, the company, which is the second largest in Tanzania in terms of subscriptions invested $75 million (over Sh160 billion) and managed to add new 535 sites with 3G technology and upgraded 408 towers of 3G into 4G, it said on Thursday.

Dar es Salaam. Tigo Tanzania is investing $70 million (over Sh150 billion) in 2017 as the mobile operator is expanding network to tap the potential of growing demand for data services in the country.

Last year, the company, which is the second largest in Tanzania in terms of subscriptions invested $75 million (over Sh160 billion) and managed to add new 535 sites with 3G technology and upgraded 408 towers of 3G into 4G, it said on Thursday.

JPM CLOSES DEBATE ON TEEN MOTHERS

Opening the 64-kilometre Msata-Bagamoyo road during the final leg of his three-day tour of Coast Region, Dr Magufuli said the idea of allowing teen mothers back to school was a foreign concept “championed by NGOs and other people who do not wish the country well”.

Dar es Salaam. The debate is closed. Schoolgirls who become pregnant will not be allowed back into public schools after giving birth, President John Magufuli said on Thursday.

Opening the 64-kilometre Msata-Bagamoyo road during the final leg of his three-day tour of Coast Region, Dr Magufuli said the idea of allowing teen mothers back to school was a foreign concept “championed by NGOs and other people who do not wish the country well”.

“There are many alternatives for teen mothers in life. They can join vocational training colleges or seek loans and become small entrepreneurs,” he said amid cheers.

The government has been under pressure in recent months from some MPs and activists to let teen mothers to resume their studies after giving birth.

ETIHAD AIRWAYS INTRODUCES NEW CHANGES TO GROUND AND INFLIGHT SERVICES

Etihad Airways is introducing a series of changes designed to offer increased value and flexibility based on customer feedback.

The airline is to amend its chauffeur policy following a review of usage by premium guests across all major markets. The complimentary chauffeur service will be retained at Etihad Airways’ Abu Dhabi hub and replaced with a paid option at specially negotiated rates in all other cities. The changes will be implemented from 3 July 2017.

As part of the initiative to improve the value proposition for travellers, the airline will also extend the paid airport transfer option to all guests across all cabins and allow Etihad Guest members to accrue miles on their chauffeur bookings.

Guests travelling in The Residence onboard the flagship Airbus A380 fleet will continue to receive complimentary chauffeur services at all A380 destinations – Abu Dhabi, London, Paris, Sydney and New York.

First and Business Class tickets issued prior to 3 July 2017 will not be affected by these changes and will receive complimentary chauffeur service across destinations where the service is currently offered.

TANAPA NA TBC YATILIANA SAINI KUANZISHA CHANELI MAALUM YA UTALII NCHINI

Wakuu hao wa mashirika wakitiliana saini mikataba hiyo mapema jana nchini

Wakuu hao wakionesha kwa waandishi wa habari (hawapo pichani baada ya kumalizika kwa utilianaji wa saini mikataba hiyo mapema jana nchini.

Shirika la Hifadhi za Taifa Tanzania (TANAPA), Mamlaka ya Hifadhi ya Ngorongoro (NCAA), Bodi ya Utalii Tanzania (TTB) pamoja na Shirika la Utangazaji la Taifa (TBC) kwa pamoja leo wamesaini makubaliano ya kuanzishwa kwa Chaneli maalum ya Utalii itakayohusika na kutangaza vivutio vya utalii vilivyopo nchini kwa soko la ndani na nje ya nchi.

UBER CEO TRAVIS KALANICK RESIGNS UNDER INVESTOR PRESSURE

Uber Technologies Inc CEO, Travis Kalanick

Uber Technologies Inc Chief Executive Travis Kalanick, co-founder of one of the most influential technology companies of its generation, resigned on Tuesday under pressure from investors after a string of setbacks.

Kalanick's departure caps a tumultuous period for the world's largest ride-services company that has revolutionized the taxi industry and challenged transportation regulations worldwide.

The resignation sent shockwaves through Silicon Valley and leaves Uber's board of directors with the problem of finding a dynamic leader who also has a steady hand needed to heal Uber after a bruising six months.

"The person who still best personifies Uber's potential is the person who left Tuesday night," said Bradley Tusk, an Uber investor and adviser. "But it's not like he really could stay without it being brutally bad for the company."

Kalanick's pugnacious style largely defined Uber's approach and helped it become a transportation colossus valued at $68 billion, the largest private firm backed by venture capitalists in the world.

WATER BILL DODGERS FACE JPM WRATH

President John Pombe Magufuli is joined by the Indian High Commissioner(Third Left) Sandeep Arya in cutting a ribbon while launching a multi billion project for the expansion of the Upper Ruvu Water treatment Plant in Kibaha District, Coast Region yesterday.

• President orders immediate payment of water debts
• Dawasco, Dawasa directed to put their house in order

IN what can be termed as a replica of a directive he issued to the Tanzania Electric Supply Company Limited (TANESCO) three months ago, President John Magufuli has ordered the Dar es Salaam Water and Sewerage Company (Dawasco) to disconnect water from all government institutions with outstanding bills amounting to 40bn/-.

In the same vein, the President directed Dawasco to seal loopholes that result in loss of water, denying availability of the precious liquid to people, revenue loss, and insisted on equal performance between Dawasco and the Dar es Salaam Water and Sewerage Authority (Dawasa).

Addressing a well-attended rally in Mlandizi on his second leg of a three-day working tour of the Coast Region, Dr Magufuli remarked: “I am always very open, all long-term defaulters should no longer be tolerated, even if it is my office - State House, disconnect them.’’

He spoke few minutes before inaugurating a multi-billion project for expansion of the Upper Ruvu Water Treatment Plant.

MOBILE MONEY TRANSFER IN EAST AFRICAN STATE INCREASE BY 13.9% – BOT

From the month of July to April 2017, 1,444.6 million transactions worth TZS 49,997.1 billion took place in the mobile transfer money for East Africa state Tanzania. The results were carried out by the Central Bank (BOT) in its Monthly Economic Review of May 2017.

This is 13.9% more than TZS 43,867.9 billion that were transacted via 1,217.70 million transactions during the similar period of the preceding year.

BOT explains that the interoperability among the four major mobile payment services providers has substantially contributed to the increase in transactions across network operators and therefore reducing the cost of mobile financial services.

The number of registered active users of mobile phone financial services was above 17.3 million by the end of April 2017. Meanwhile, the retail payment systems such as the usage of card payments, automated teller machines and point of sale (POS) increased slightly.

GOVERNMENT CLEARS AIR ON TAX EXEMPTION POLICY

THE government has issued tax exemptions worth 11.8trl/- in the period of 10 years, which is an average of 1.18tril/- per year.

Deputy Minister for Finance and Planning, Dr Ashatu Kijaji, told Parliament yesterday that the exemptions were offered to attract investors and boost growth of various companies in the country.

The Deputy Minister was responding to Ole MP (CUF), Mr Juma Omar who wanted to know the revenue that the government has not collected in the period of 10 years, basing on tax exemption policy.

According to Mr Juma, the International Monetary Fund (IMF) records show that Tanzania loses between 1.2bn and 2.2bn US dollars, which is equivalent to between 2.2trl/- and 4.4trl/- annually.

SKYTRAX HAT-TRICK FOR ETIHAD AIRWAYS FIRST CLASS

Linda Celestino, Etihad Airways Vice President Guest Experience Delivery, receives the Skytrax World Airline Awards for World’s Best First Class Airline, World’s Best First Class Onboard Catering and World’s Best First Class Airline Seat.

• Airline wins three major awards for its industry-leading First Class at the annual World Airline Awards

Etihad Airways has once again been presented with three coveted awards for the World’s Best First Class, Best First Class Onboard Catering, and Best First Class Airline Seat at the annual Skytrax World Airline Awards. The event was held at the Musee de l’Air et de l’Espace, as part of the bi-annual Paris Airshow.

The prestigious World Airline Awards are widely considered to be a global benchmark of airline excellence. Winners are chosen based on the votes and findings of a ten month survey of over 19 million air travellers from 105 countries. The survey covers over 325 airlines, from the largest international airlines to smaller domestic carriers, measuring quality standards for 41 KPIs across front-line product and service factors in the airport and onboard environments.

JOB VACANCY ANNOUNCEMENTS - TIB DEVELOPMENT BANK

TIB Development Bank Limited, the premier national Development Financial Institution, aims to focus on national projects towards the attainment of the Tanzanian Development Vision 2025. 

The bank’s mandate is to support the Government in achieving rapid economic growth through the development of industries, infrastructure, social services and the oil and gas sector. 

In this regard, activities of TIB have specifically expanded and the bank now invites applications from suitable, qualified and skilled persons to the following available vacancies;

1. Deputy Managing Director
2. Director, Strategic Planning and Corporate Affairs
3. Director, Development Financing
4. Director, Portfolio Management
5. Director, Managed Funds
6. Director, Legal Services and Secretary to the Board
7. Director, Funds Mobilization
8. Chief Internal Auditor
9. Head, Risk and Compliance
10. Director of Finance
11. Director, Human Resources and Administration
12. Director, Information and Communication Technology
13. Head, Procurement Management Unit
14. Zonal Managers - 4 Posts (Arusha, Dar es Salaam, Mbeya and Mwanza)
15. Manager, Payments and Data Assurance
16. Principal Officer, Board and Management Secretariat
17. Principal Officer, Litigation and Advisory Services
18. Senior Legal Officer - Securities and Documentation
19. Senior Systems Auditor
20. Senior Internal Auditor
21. Senior Programmer Cum Business Analyst
22. Senior ICT Security Officer
23. Senior Finance Officer
24. Senior Officer, Business Development
25. Senior Records Management Officer
26. Legal Officer (2 vacancies)
27. Finance Officer (2 vacancies)

REMUNERATION

TIB Development Bank Limited is an equal opportunity employer. The bank offers an attractive remuneration package, career development opportunities and an excellent working environment.

MODE OF APPLICATION Qualifying candidates should apply in writing to or lodge their applications at the address below, enclosing:-

 

1. An application letter.
2. Comprehensive curriculum Vitae.
3. Copies of relevant certificates and awards.
4. Contact address including telephone number(s) and/or email address(s) if available. 

5. Names and full addresses of three referees.

Closing Date is 29th June 2017.

Managing Director
TIB Development Bank
Building No. 3; Mlimani City Office Park, Sam Nujoma Road, Ubungo
P.O.BOX 9373
Dar es Salaam
Tel. 2411101-9/ 2411100
Email: md@tib.co.tz Website: www.tib.co.tz

CLICK HERE TO VIEW THE DETAILED JOB SPECIFICATIONS

EFFORTS TO REVIVE DEFUNCT TYRE FACTORY IN PROGRESS

Minister for Industry, Trade and Investment, Mr Charles Mwijage.

The government is assessing the cost of reviving the General Tyre East Africa Limited Arusha that will be used as a guide for negotiation with investors who are ready to run the business.

Minister for Industry, Trade and Investment, Mr Charles Mwijage said on Tuesday that the once lucrative industry is now 100 per cent government property after it acquired 26 per cent shares from Continental AG.

Mr Mwijage said after acquiring the 26 per cent, the government now fully owns the firm and that it is putting things in order before handing it to a serious and capable investor.

“We are now conducting studies by assessing costs of purchasing new and modern machines before handing it over to a new investor,” he said.

BUDGET SAILS THROUGH AS OPPOSITION LEGISLATORS ROASTED OVER 'NO VOTE'

Members of Parliament (MPs) overwhelmingly endorsed the 2017/18 national budget here last evening, with repeated calls from CCM legislators to deny development funds to constituencies whose representatives objected it.

Out of 355 votes cast, 260 voters said Yes and 95 said No, with all opposition legislators voting for the negative, save for Magdalena Sakaya (Kaliua --CUF) and Maftaha Nachuma (Mtwara Urban -- CUF).

“If you have refused the budget, it literally means your people have no problem and you don’t need development funds,” said Joseph Kasheku (Geita Rural --CCM).

Minister of State in the Prime Minister’s Office, Policy, Parliamentary Affairs, Labour, Employment, Youth and Disabled Jenister Mhagama queried the logic behind opposition MPs who have rejected the budget to subject the government to questions about development.

Other legislators who showed concern over execution of development projects in areas whose MPs have rejected the budget were Hawa Ghasia (Mtwara Rural — CCM) and Amina Mollel (Special Seats —CCM).

Their move was supported by the Speaker of the National Assembly, Mr Job Ndugai. The budget was endorsedwith Finance and Planning Minister Philip Mpango obliging to almost all legislators’ demands.

Winding up the heated debate on the budget proposals, Dr Mpango announced the abolition of Value Added Tax (VAT) on hunting fees, licences and permits with the view of promoting business in the sector.

GRAND PROJECTS FLAG PRESIDENT JOHN MAGUFULI'S COAST REGION VISIT

• Plans afoot to build ambitious Stieglers Gorge hydroelectric project

On his first leg of a three-day working tour of the Coast Region, President John Magufuli has outlined the ambitious projects, among them, plans to build a grand Stieglers Gorge hydroelectric project on south eastern Tanzania’s Rufiji River.

The President yet again warned local and international investors as well as public officials who were stealing the country’s resources that he will deal with them squarely, in his self-declared war against them.

Addressing a mammoth rally at the Bwawani grounds in Kibaha ON Tuesday, Dr Magufuli laid down plans for implementation of projects including the Ruvu dry port, health, energy, roads, water, railway projects among others.

He said that although the government was currently working on the expansion of the Kinyerezi I, II and III projects, the Tanzanian government in collaboration with the Ethiopian counterpart was putting measures in place to implement the Stieglers Gorge hydroelectric project.

The project follows an agreement entered on March 31, 2017 between Dr Magufuli and the Ethiopian Prime Minister, Hailemariam Desalegn, when he came to Tanzania for a two-day State visit.

RAIS DKT. JOHN POMBE MAGUFULI AKUTANA NA RAIS MSTAAFU WA NIGERIA MHE. OLUSEGUN OBASANJO IKULU DAR ES SALAAM JUNE 20, 2017

Rais wa Jamhuri ya Muungano wa Tanzania Dkt John Pombe Magufuli akimlaki Rais Mstaafu wa Nigeria Mhe. Olusegun Obasanjo aliyemtembelea Ikulu jijini Dar es salaam Juni 20, 2017.

Rais wa Jamhuri ya Muungano wa Tanzania Dkt John Pombe Magufuli akiwa katika mazungumzo na Rais Mstaafu wa Nigeria Mhe. Olusegun Obasanjo aliyemtembelea Ikulu jijini Dar es salaam Juni 20, 2017.

Ikulu Blog

FORMER NIGERIAN PRESIDENT, OLUSEGUN OBASANJO VISITS PRESIDENT JOHN MAGUFULI

President John Magufuli in a conversation with the former President of Nigeria, Olusegun Obasanjo, who visited him at State House in Dar es Salaam on Tuesday.

Former Nigeria President Olusegun Obasanjo has congratulated President John Magufuli for being an exemplary African leader in defending the country’s interests from investments.

According to a press statement issued on Tuesday by the Directorate of Presidential Communications, the former Nigerian president said Magufuli also deserved praise for throwing his weight in properly supervising the country’s economy.

Obasanjo, one of Africa’s respected persons, issued his congratulatory message when he met and held talks with President Magufuli yesterday at State House in Dar es Salaam.

The former president hailed President Magufuli for his efforts to attract Foreign Direct Investments (FDIs) by inviting investors and businesspersons from all corners of the world but with a strict sense of ensuring that both parties benefit.

WAKAZI WA PWANI WAIFURAHIA HUDUMA YA UKARIMU YA VODACOM

Wakazi wa kanda ya Pwani wameipokea kwa furaha kubwa huduma mpya ya Ukarimu inayotolewa na Vodacom Tanzania wakati huu wa msimu wa mwezi mtukufu wa Ramadhani inayolenga kutoa ushirika na utoaji.

Ukarimu huu wa Vodacom unakwenda sambamba na kuwapatia wateja kifurushi kinachowawezesha kupata Qaswida, Mawaidha, Hadith, Facebook yenye picha na kuzungumza usiku wanaposubiri daku BURE kabisa. Ili mteja aweze kunufaika na bando hili la Ukarimu anatakiwa kupiga *149*01# kisha kuchagua aina ya bando kulingana na uwezo wake wa kifedha. Lipo bando linalodumu kwa muda wa saa 24 na linalodumu kwa siku saba.

Kwa kiasi cha shilingi 1000, mteja atapata dakika 150 Vodacom kwenda Vodacom, dakika 10 kwenda mitandao yote, ujumbe mfupi wa maandishi wa maandhishi bila kikomo, simu kupitia mtandao pamoja na ujumbe wa didi bure

JPM WARNS INSECURITY IN COAST HURTING INVESTOR CONFIDENCE

In Summary

Dr Magufuli spoke on the security situation in the Coast Region for the first time as he began his three day tour of the region.

He told the residents of Kibaha Town that people living in areas marred by insecurity are to blame if the pace at which factories are constructed in their areas remains low.

Dar es Salaam. President John Magufuli warned yesterday that reports of insecurity in Kibiti, Mkuranga and Rufiji districts in Coast Region would affect investors’ confidence and forestall the government’s drive towards industrialisation in the areas.

Dr Magufuli spoke on the security situation in the Coast Region for the first time as he began his three day tour of the region.

He told the residents of Kibaha Town that people living in areas marred by insecurity are to blame if the pace at which factories are constructed in their areas remains low.

The President was responding to an earlier report by Regional Commissioner Evarist Ndikilo who indicated that until now, there was a total of 371 factories in his region; 89 out of which are mid-sized. However, Mr Ndikilo said Mkuranga and Kibiti districts were still lagging behind in the drive towards industrialisation due to poor road infrastructure and shortage of power.

GOVERNMENT ACTS TO OPEN UP DAR ES SALAAM STOCK EXCHANGE TO FOREIGNERS

    

     
Dodoma. The government has advanced a proposal that seeks to ensure investors from East Africa and beyond as well as Tanzanians in diaspora are able to take part in the impending initial public offerings (IPOs).

Winding up the debate on the Sh31.7 trillion budget for the Financial Year 2017/18 in Parliament yesterday, the Finance and Planning Minister, Dr Philip Mpango informed the House that the government would amend the Electronic and Postal Communications Act (Epoca) 2010 with a view to allowing investors across the East African Community member states, Tanzanians in diaspora and foreign investors to take part in pending IPOs for telecommunications firms, including those for Airtel Tanzania and Tigo.

Going by Epoca 2010, telecommunication firms are required to offload 25 per cent of their shares for the public through the Dar es Salaam Stock Exchange (DSE).

In this regard, Vodacom Tanzania became the first telecommunications firm to issue an IPO early this year in which it sought to raise Sh476 billion by selling 560 million shares at Sh850 each.

STANBIC HOSTS AN IFTAR GATHERING FOR ITS CLIENTS

Stanbic Bank Executive Head of Corporate and Investment Banking, Thomas Bisonga (left) shares a light moment with Sheikh Muhamad Ally (centre) from the National Muslim Council of Tanzania (BAKWATA) during an Iftar gathering hosted by the bank to celebrate the holy month of Ramadan with its clients in Dar es Salaam over the weekend.  Looking on is Ramadhani Dume a Muezzin from Masjid Farouq. 

Stanbic Bank Head of Channels, Musa Kitoi addressing invited guests during an Iftar gathering hosted by the bank to celebrate the holy month of Ramadan with its clients in Dar es Salaam over the weekend.  

VODACOM PRIMARY OFFER RESULTS OUT THIS WEEK

The results of Vodacom Tanzania initial public offer (IPO) are expected to be issued this week, the Capital Market and Securities Authority (CMSA) said on Monday.

The CMSA said the results, which will pave way for Vodacom listing, took longer than expected due to the size of IPO—476bn/- the largest in history of Dar es Salaam Stock Exchange (DSE).

The Authority Principal Public Relations Manager, Mr Charles Shirima, told 'Daily News' that the announcement would know to the public late this week. “The authority failed to complete the allotment in time due to the size of the IPO, but this week information will be out,” Mr Shirima said.

Vodacom, the giant telco, IPO ended some four weeks ago but the authority took longer than expected to issue the final results of subscription level. The South African-based firm was expected to list its shares on May 16, but this was postponed to June 13 and this has been missed also.

UGANDA CENTRAL BANK CUTS LENDING RATE TO 10 PERCENT

KAMPALA, June 19 (Reuters) - Uganda's central bank lowered its key lending rate to 10.0 percent on Monday from 11.0 percent, saying a stable exchange rate for the shilling and subdued domestic demand had contributed to an easing of core inflationary pressures.

Bank of Uganda Governor Emmanuel Tumusiime-Mutebile told a news conference the economy expanded by 3.9 percent in 2016/17 (July-June), down from a growth rate of 4.7 percent in the previous year, due to drought and slow implementation of public investment projects.

Reuters

SAFARI COM ANNOUNCES NEW BRAND IDENTITY DUBBED #TWAWEZA

Safaricom Limited (Stock; SCOM), Kenya’s largest company has announced the repositioning of the Safaricom brand from a telecommunications brand to a digital lifestyle enabler through a new brand campaign titled Twaweza: A Kiswahili name which means; when we come together, great things happen.

The company said the new brand position seeks to connect Kenyans to each other and also connect them to knowledge and information in a bid to democratize technology to bring out the best of their trademark resourcefulness, creativity and enterprising spirit.

The Safaricom network currently covers over 70 per cent of the country and has over 28 million subscribers providing over 200,000 touch points for its customers and offering over 100 different products under its portfolio.

ESCROW MONSTER RESURFACES

Businessmen James Rugemalira and Harbinger Singh Sethi (second and third left respectively) in a police vehicle at Kisutu Resident Magistrate's court compound in Dar es Salaam on Monday. They are facing charges related to economic sabotage and occasioning huge financial loss to the government. 

• Businessmen Rugemalira and Singh Sethi appear in court, facing six counts, including economic sabotage

Arraignment of the two alleged key players in the infamous 306bn/- Tegeta escrow account scandal at the Kisutu Resident Court on Monday, resonates with eight of the resolutions reached by the National Assembly way back November 2014.

The two, the Director of VIP Engineering and Marketing Mr James Rugemalira and Mr Harbinder Singh Sethi of Pan Africa Power Solutions Tanzania Limited (PAP), appeared at the court on Monday facing six counts of economic sabotage and occasioning a loss to the government of US $ 22.1 million dollars and 309bn/-.

State Attorney Paul Kadushi read the charges against them after which they were remanded since the lower court has no jurisdiction to prosecute such charges unless they get an approval from the Director of Public Prosecutions.

Resident Magistrate Huruma Shaidi explained further that economic sabotage crimes can only be heard at the High Court but that the DPP can in some instances issue an approval for the lower court to hear the charges.

DAR BOURSE’S TURNOVER INCREASES BY SH49BN

In Summary

The firm accounted for 98 per cent of the turnover while foreign investors bought Sh49.43 billion shares. The brewer’s share price appreciated by 11.82 per cent to Sh12,300.

Dar es Salaam. Trading jumped at the Dar es Salaam Stock Exchange (DSE) as foreign investors flocked to the Tanzania Breweries Ltd (TBL) counter, which dominated the market last week.

The weekly turnover jumped to Sh50.48 billion last week from Sh1.2 billion the previous week.

TBL accounted for 98 per cent of the turnover while foreign investors purchased Sh49.43 billion shares.

The market is recovering from weak performance it has been recording since the end of last year.

“Year-end is always a low season for the stock market but this time the trend has been extended through May due to the fact that many were focusing on the Vodacom Tanzania initial public offering.

STAGE SET TO RENEGOTIATE MINING DEALS

AS the dust is settling after the government agreed to resolve its dispute with Acacia Mining through discussion, the stage is now set for renegotiation of the mining deals that have been denying the country of its fair share from its mineral resources.

Acacia Mining which operates three mines in northwest Tanzania—Bulyanhulu, Buzwagi and North Mara, is being accused of operating illegally and cheating the country of tens of billions of dollars by understating by more than 10 times the gold and copper concentrate levels in its mineral exports.

Following a release of reports by two Presidential committees that investigated mineral exports by Acacia Mining, the head of Barrick Gold, Acacia’s largest shareholder John Thornton, flew in to meet President John Magufuli where they agreed to negotiate a resolution for the escalating dispute over Acacia Mining operations in Tanzania.

The context of the dispute is increasingly typical of Africa’s mining industry. The government is seeking more tax revenue from a foreign mining firm that was initially wooed into the country by generous tax concessions.

ZANTEL HOSTS A SPECIAL EVENING IFTAR FOR ITS STAFF AND PARTNERS IN DAR ES SALAAM.

Zantel’s HR personnel Maryam Khatri, (left) serves various Zantel staff during an evening Iftar organized by the copany for its staff and partners in Dar es Salaam yesterday. 

Zantel’s Head of HR department Joanitha Mrengo (second left) serves Zantel Chief Executive Officer, Benoit Janin (first right) during an evening Iftar organized by Zantel for its staff and partners in Dar es Salaam yesterday. Looking on (left) is Zantel’s HR personnel Maryam Khatri.

HUU NI ZAIDI YA UKARIMU KUTOKA KWA VODACOM TANZANIA FOUNDATION

Baadhi ya wanafunzi wa shule ya sekondari Marwa iliyoko Mikindani Mtwara wakijiandaa kupata futari mwishoni mwa juma. Vodacom pia wamekuwa wakitangaza maeneo ambayo yatafuatia kuturishwa katika muendelezo wa kampeni ya Ukarimu.

Watoto wanaolelewa katika kituo cha kulea yatima cha Mwinyi Baraka cha Misugusugu Kibaha mkoani Pwani, wakimsikiliza Glori Mtui ambaye ni mfanya kazi wa Vodacom Tanzania PLC wakati wakati wa futari iliyoandalia na Vodacom Tanzania Foundation kwa watoto hao kwa ajili ya mfungo wa mwezi mtukufu wa Ramadhani.

Kampeni ya Ukarimu wa Vodacom imendeelea kuwafikia watanzania maeneo mbalimbali nchini Tanzania na kuwafuturisha katika mfungo huu wa mwezi mtukufu wa Ramadhani ambapo kampeni hiyo ina lengo la ukarimu, ushirika na utoaji katika mwezi huu mtukufu wa Ramadhan na katika maisha ya kila siku.

NEW ERA FOR VENTURE CAPITAL INDUSTRY IN TANZANIA AS TANZANIA VENTURE CAPITAL NETWORK (TVCN) IS LAUNCHED

Salum Awadh, Founder of Tanzania Venture Capital Network (TVCN).

Tanzania still lags behind in Africa and in East Africa in particular in promoting PE and VC deals. Data indicates that for the period between 2010 to 2016, a total of 167 deals were completed in East Africa, with the total value USD 1.4 billion. Out of that, Tanzania only accounted for 10% of the total deals, and 6% of the total deals value.

Despite the low uptake of PE and VC industry in Tanzania, the country offers massive potential for development of this type of financing, but requires multi-stakeholder efforts.

Tanzania Venture Capital Network (TVCN) is a proposed not-for-profit project to be established under SSC Consulting.

SSC Consulting, a boutique advisory firm offering services in business development, finance, investment, and transactional services (visit www.ssc.co.tz) We also offer intermediary services for PE and VC firms, and we help local companies raise capital in both debt and equity, locally and internationally. We have so far helped our clients raise more than USD 400m, mostly debt.