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TANZANIA FINANCIAL SERVICES EXPO. 10-11 NOVEMBER 2016

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Tuesday, 27 September 2016

TANZANIAN GOVERNMENT REGAINS FULL OWNERSHIP OF TTCL

The Tanzanian government regained full ownership of Tanzania Telecommunications Corp (TTCL) after reportedly completing its deal to buy back a 35 per cent stake in the operator from Bharti Airtel.
The deal, first announced in May 2015, sees the state take full control of the country’s oldest operator and largest fixed line player, in a move intended to revitalize it with new funds.

TPA ORDERED TO PROCURE FOUR SCANNING MACHINES

PRESIDENT John Magufuli has issued a two-month ultimatum to Tanzania Ports Authority (TPA) to purchase four cargo scanning machines at Dar es Salaam Port.

ETIHAD AIRWAYS LAUNCHES NEW CHILDREN’S ACTIVITY PACKS FOR YOUNG EXPLORERS

Children enjoying the activities at the Etihad Explorers tea party and children’s activity kit launch event, held at Etihad Airways’ Innovation Training Academy in Abu Dhabi.
With millions of families planning and looking forward to their next holiday or trip abroad, Etihad Airways has introduced a new range of ‘Etihad Explorers’ children’s activity packs and a Flying Nanny Kit, to keep its younger guests occupied while onboard. Etihad Explorers is the airline’s new children’s brand and will feature on activity packs and meal items, and aims to instill a sense of excitement and anticipation during their journey. 

TANZANIA FINANCIAL SERVICES EXPO 2016


Monday, 26 September 2016

EX-IMF BOSS RATO ON TRIAL OVER BANKERS’ LUXURY SPREES

Former IMF chief Rodrigo Rato stands a trial today accused of overseeing a "corrupt system" that helped him and other executives misuse funds.

MADRID,Former IMF chief Rodrigo Rato stands trial Monday accused of overseeing a "corrupt system" that helped him and other executives misuse funds on hotels, parties and luxury shopping when he was a Spanish bank boss.
Uncovered in 2013 by a journalist who saw a hacked email alluding to "black credit cards," the case threatens to land the former economy minister and onetime star of the ruling conservative Popular Party (PP) in jail and with a hefty fine.

CENTUM'S MWORIA TOPS LIST OF KENYA'S BEST PAID EXECUTIVES

Centum Investment chief executive James Mworia. PHOTO | FILE 
Centum Investment chief executive James Mworia is corporate Kenya’s best paid manager with an annual compensation of Sh201.1 million or Sh16.7 million per month, according to the latest financial reports.
The pay, which incorporates a performance bonus, places Mr Mworia ahead of his peers, who lead Kenya’s five largest companies by market capitalisation at the Nairobi Securities Exchange, including telecoms operator Safaricom andEast African Breweries Limited(EABL).

ZAMBABWE BANKING CRISIS DEEPENS

CABS clients wait to make cash withdrawals at corner Fourth Street and Central Avenue in Harare
Zimbabwean companies face increasing problems in making international payments and getting their hands on foreign currency.

This is owing to the termination of correspondent-bank arrangements by international finance institutions, including Germany’s Commerzbank.
The country’s bankers, who are already battling cash shortages, are worried that international banks based in the UK and the US could intensify the severance of ties.

Saturday, 24 September 2016

KIKWETE HONOURED FOR PROTECTING VULNERABLE GROUPS

RETIRED President Jakaya Kikwete in a jovial mood after receiving an award for political leadership and protection of vulnerable groups, including women and children, presented to him by the Executive Director of SpeakUpAfrica, Ms Kate Campana, at a function held in New York City, United States, on Thursday. The award has been given in appreciation of the former president’s contribution to the provision of basic health services, especially in mother-child health and fight against malaria. (Photo by a Correspondent)

FORMER President Jakaya Kikwete has been awarded for his excellence political leadership and protection of vulnerable groups especially women and children.
A New York-based organisation, Speak Up Africa, conferred the award on Mr Kikwete here on Thursday during the inaugural benefit and the organisation’s fifth anniversary dinner.

KIMEI RECEIVES AFRICAN LEADERSHIP AWARD

CRDB’s Bank Managing Director, Dr Charles Kimei, has won an African Leadership Award 2016 in recognition of his economic development role.
The award was presented to Dr Kimei by Malawi’s President Peter Mutharika in New York on Thursday, September 22. During the event, President Mutharika also received the African Leadership award from the African Leadership Magazine Group in recognition for his statesmanship.

Friday, 23 September 2016

TWIGA BANCORP TO OPEN BRANCH AT KARIAKOO

TWIGA Bancorp will next week open a new branch at Kariakoo to bring to six the number of its branches in Dar es Salaam, as it seeks to tap into market opportunities in the bustling business area of the city.
The bank’s Chief Executive Officer (CEO) Mr Cosmas Kimario, said in the city yesterday that the new branch would facilitate service to its customers, largely traders at Kariakoo market.
He said the decision by the public financial institution to open the new branch was to heed to the directive by the government to expand its service.

CMSA IS THE BEST CAPITAL MARKET REGULATOR IN AFRICA

TANZANIA’S Capital Markets and Securities Authority (CMSA) has won the ‘’Most Innovative Capital Markets Regulator in Africa’’ award for the year 2016.
The award was conferred by Africa Investor, an investment and communications group, in New York on 19th September 2016. While Dar es Salaam Stock Exchange (DSE) scooped the Best African Listing Award in 2016.
The awards, which were launched in 2007 and linked to the Africa investor (Ai) Index Series, are Pan-African awards designed to recognize Africa’s best performing regulators, stock exchanges, and listed companies.

ETIHAD AIRWAYS CELEBRATES THE KOREAN FESTIVAL, ‘CHUSEOK’ IN TANZANIA


(Left to right) Grace Kijo Etihad Airways’ Marketing in Tanzania, Ambassador of the Republic of Korea to Tanzania H.E Song Geum-Young and Ms Hae Myung Rhee, Chairwoman of the Korean Association congratulate Miss Heejin Hwangon winning one of three ticket prizes to Korea.
Grace Kijo Etihad Airways’ Marketing Coordinator in Tanzania receives an award on behalf of the airline in recognition of the airline’s support to the Korean Community Association’s ‘Chuseok’ festival in Tanzania.
(Left to right) Grace Kijo, Etihad Airways’ Marketing Coordinator, and Ambassador of the Republic of Korea to Tanzania, H.E Song Geum-Young,congratulate Miss Heejin Hwang (right) on winning one of three round-trip ticket prizes to Korea. The other two winners during the Korean ‘Chuseok’ festival held in Dar es Salaam over the weekend were Ms. YoungMi Choi andMs. Sunmi Oh.

Dar es salaam, Tanzania. Etihad Airways, the national airline of the United Arab Emirates joined with the Korean Community Association in Tanzania in celebrating ‘Chuseok’, the traditional Korean Thanksgiving festival, by donating threeround-trip tickets from Dar es Salaam to Incheon-South Korea.

Thursday, 22 September 2016

COURT ORDERS BOT GOVERNOR TO EXPLAIN PAYMENT OF 92BN/-

BOT Governor, Prof Benno Ndulu.
The High Court has ordered the Governor of the Bank of Tanzania (BoT) and Statutory Manager with FBME Bank Limited to give accounts how the decree for payments of over 92bn/-given in favour of Coast Textiles Limited was implemented.

According to the order issued by Deputy Registrar Projest Kahyoza, the BoT Governor, Professor Benno Ndulu and Statutory Manager Lawrence Mafuru, who is currently the Treasury Registrar, risk being taken to prison as civil prisoners if they will not give sufficient explanations on execution of the decree.

The execution of the decree originates from a civil case that was decided against FBME Bank Limited after selling property, including a plant owned by Coast Textiles Limited, which was later transferred to Five Star Investment Limited following a dispute relating to overdraft facility.

Records show that the Bank of Tanzania, who was not part to the original proceedings, is linked in the matter after taking over the management of FBME Bank Limited, having being implicated with money laundering crimes in Cyprus in order to protect Tanzanian customers.

The court had ordered the two senior government officials to appear before it to show cause on the satisfaction of the decree in question on September 16, this year, but the session was halted temporarily following an ex-parte ruling given by Judge Ama Munisi.

LATEST EDITION OUT NOW WITH A COLLECTION OF OVER 150 PROPERTIES


EXIM BANK DONATES TSHS. 10M FOR KAGERA EARTHQUARE VICTIMS

Prime Minister, Kasim Majaliwa receives dummy cheque worth TZS 10 million from Exim Bank Head of Treasury, George Shumbusho (third right), in support of relief efforts for Kagera earthquake victims. Others in the picture are Exim Bank officials.

TANZANIA INSURANCE EXPO 2016


TANZANIA LENDERS EXPO 2016


PAYMENTS EAST AFRICA 2016 ON 27-28 SEPTEMBER, RADISSON BLU HOTEL, NAIROBI, KENYA

Banks and telcoms worldwide are rethinking their current business models
NAIROBI, Kenya, September 21, 2016/ -- Banks and telcoms worldwide are rethinking their current business models and sources of revenue in light of Fintech competitors and revolutionary technology.

East Africa is a hub for such innovations and Payments East Africa (https://goo.gl/9v2RKw) is at the epicentre of this opportunity.

Nairobi is the place to be for the second annual Payments East Africa. Last year’s disruptions are this year’s tools to hold onto your customers and keep your brand alive.

Joseph Ridley, General Manger, Terrapinn, said:

“We’ve had a great response and feedback these past few weeks from banks wanting to learn more about how digital can help them become more cost effective and operationally efficient whilst maintaining margins (in lite of the recent capping of interest rates by the Central Bank). The reality is that the industry knows that technology can be a great differentiator in what is a very competitive market place as consumer expectations evolve on a daily basis”

Learn how banks can save billions by integrating blockchain security. How telcoms attract millions of customers through mobile financial services. How central banks’ regulations can boost financial inclusion and expand card portfolios.

Learn from and network with…
  • Abdi Mohammed, Managing Director, Barclays Bank Tanzania (Tanzania)
  • Avi Mitra, Chief Information Officer, Kenya Commercial Bank
  • Chris Kabagambe, Managing Director, Top Finance Bank (Uganda)
  • Jeremy Awori, Chief Executive Officer, Barclays Bank Kenya (Kenya)
  • Mathias Katamba, Managing Director, Housing Finance Bank (Uganda)
  • Melika Bedri, Vice President - Information Systems, Commercial Bank of Ethiopia
  • Peter Gitau, Chief Information Officer, Standard Chartered Bank (Kenya)
  • Roland Coulon, Chief Executive Officer, Access Bank (Tanzania)
  • Simon Njuguna, Chief Information Officer, CFC Stanbic Bank (Kenya)
  • Wilfred Musau, Chief Executive Officer, National Bank of Kenya (Kenya)
  • Patrick Wanjohi, Financial Services – MPESA, Safaricom (Kenya)
  • Alix Murphy, Senior Mobile Analyst, WorldRemit (UK)

BENKI YA NBC YAZIDI KUWAWEZESHA VIJANA KIUCHUMI

Meneja Huduma za Jamii wa NBC, Irene Peter (kulia), akizungumza
na baadhi ya vijana wanaosoma katika Chuo cha Ufundi cha Future World kuhusu masuala ya ujasiriamali na elimu ya kifedha chuoni hapo, Gongo la Mboto, nje kidogo ya Jiji la Dar es Salaam Hhivi karibuni. Mafunzo hayo yaliyodhaminiwa na benki hiyo ni moja kati ya mipango ya NBC yakuwawezesha vijana na elimu ya kifedha.
Mkuu wa Huduma za Kibenki za Taasisi wa NBC, Noelina Kivaria
(kushoto), akitoa maelezo kuhusu masuala ya elimu ya kifedha chuoni hapo, Gongo la Mboto, nje kidogo ya Jiji la Dar es Salaam mwishoni mwa wiki. Mafunzo hayo yaliyodhaminiwa na benki hiyo ni moja kati ya mipango ya NBC yakuwawezesha vijana na elimu ya kifedha.
Mkuu wa Kitengo cha Sekta ya Umma na Taasisi za Fedha wa NBC,
Linley Kapya (kulia), akitoa maelezo kuhusu masuala ya elimu ya
kifedha chuoni hapo, Gongo la Mboto, nje kidogo ya Jiji la Dar es
Salaam mwishoni mwa wiki. Mafunzo hayo yaliyodhaminiwa na benki hiyo ni moja kati ya mipango ya NBC yakuwawezesha vijana na elimu ya kifedha.

Wednesday, 21 September 2016

LUFHANSA, AIR CHINA SIGN ROUTE JOINT VENTURE DEAL

Lufthansa (LHAG.DE) has signed a route sharing deal with China's flagship carrier Air China (601111.SS)(0753.HK), capping off two years of talks that will boost Germany's biggest airline's access to the world's fastest growing aviation market.

The deal, which began with the signing of an accord in July 2014, will see the companies share revenue by allowing them to sell each other's tickets on some routes. It represents the closest agreement such carriers can enter short of a full-scale merger.

NBC SENIOR MANAGERS MEET BARCLAYS AFRICA CHIEFS IN DAR SALAAM

NBC Managing Director, Edward Marks (left) shares a light moment with Barclays Africa Group Limited Deputy Chief Executive Officer, Peter Matlare, who was on a working visit to Tanzania. He met with NBC senior managers at a function held in Dar es salaam recently.
NBC Managing Director, Edward Marks, addresses the bank's senior managers during a meeting with Barclays Africa Group Limited Deputy Chief Executive Officer, Peter Matlare (not in picture) at a brief occasion held in Dar es Salaam recently.
Barclays Africa Group Ltd Deputy Chief Executive Officer, Peter Matlare, addresses NBC senior managers in Dar es salaam during his working visit to Tanzania recently.
Chief Executive Barclays Africa Regional Management, Mizinga Melu (left) shares a light moment with Edward Mwaluko, NBC Relationship Manager after a meeting between Barclays Africa Group Limited Deputy Chief Executive Officer, Peter Matlare (not in picture) and NBC Tanzania senior managers at a brief ocassion held in Dar es salaam recently. Others from left;-NBC Head of Compliance and Regulatory Affairs, Sarah Laiser Sumaye, and NBC Head of Governance and Control, Herbert Liwali.

AFRICA VENTURE CAPITAL EXPO 2016


DAR SKIES NOTCH A PLUS AS FIRST 'BOMBARDIER' JETS IN AMIDST POMP

THE first of the two Air Tanzania Company Limited (ATCL) planes purchased by the government landed at the Julius Nyerere International Airport (JNIA) today afternoon from Canada.

The Bombardier Q400 NetGen landed at 12.15pm and received the customary salute of water being sprayed over the new airplane, which will be operating commercially for the first time in the country.

After receiving the water reception salute, the plane was taxied to the Ukonga Military Airwing for parking.

TANGA CEMENT PLC LAUNCHES A NEW PRODUCT – MKOMBOZI CEMENT – 32.5N

Tanga Cement PLC National Sales Manager, Leslie Massawe (second right), and some of TCPLC senior officials, displaying a bag of the just launched Mkombozi cement in Dar es Salaam yesterday. Others from left; Export Manager, Dhruv Sikh, Business Analyst, Godsave Robinson, Commercial Manager, Mattheus Roos and company’s Communications and External Affairs Manager, Mtanga Noor.

Tanga cement public limited company (TCPLC), one of the leading cement producer in East Africa, has launched a premium quality cement product, MKOMBOZI -‘SIMENTI YA MWENDOKASI’ which will facilitates rapid development of housing and infrastructure projects. 

With the consumption of cement per capita in Tanzania estimated to be below 70 kgs per person compared to the global average of 513 kgs per person (June 2015, source - bloomberg): there is still huge demand for cement to cater for the increasing  infrastructure projects in the country.

Tuesday, 20 September 2016

JACQUELINE MENGI AFANYA UZINDUZI WA DUKA LA SAMANI “AMORETTE”

Mrembo wa taji la Miss Tanzania 2000, Bi. Jacqueline Mengi akizungumza na wageni walikwa pamoja na waandishi wa habari (hawapo pichani) wakati wa uzinduzi wa duka lake la samani za ndani "Amorette" lililopo katika jengo la Village Walk gorofa ya kwanza karibu na Sea Cliff Hotel, Masaki jijini Dar es Salaam.
Alhamisi ya Septemba, 15 inaingia katika historia ya mjasiriamali, Jacqueline Mengi kwa kufanya uzinduzi wa duka la samani za ndani la Molocaho Amorette likiwa na vitu ambavyo ni vya pekee kutokana na aina ya malighafi ambayo wametumia kutengeneza.

Akizungumzia duka hilo, Bi. Mengi alisema kuwa ilikuwa ni ndoto yake ya muda mrefu ya kutaka siku moja kuwa na duka kama hilo ambalo litakuwa na samani ambazo ni ngumu kuzipata sehemu nyingine kutokana na kutengenezwa tofauti na samani nyingi ambazo zinapatikana madukani.

"Siamini kama ndoto yangu imetia, kwa kipindi cha miaka iliyopita kuna vitu nilikuwa nikitamani kuwa navyo nyumbani lakini sikuweza kuvipata nilipokuwa nikitafuta na hapo ndipo ndoto za kuwa na duka zilipoanzia,

"Nilikuwa nataka kitu cha tofauti ambacho ni ngumu kukikuta sehemu nyingine kutokana na kuwa na ubunifu wa kipekee ambao utawavutia wateja wa ndani ya nchi na nje ya nchi na ninaamini watafurahia," alisema Bi. Mengi.

Aidha Bi. Mengi alisema kuwa bidhaa ambazo zitakuwa zikipatikana katika duka la Molocaho - Amorette zimetengenezwa na malighafi kutoka Tanzania kama mbao za Mninga na hivyo kuwataka Watanzania kuwa wazalendo kwa kutumia bidaa ambayo imetengenezwa na malighafi za Tanzania.

Mmoja wa wageni waliohudhuria halfa ya uzinduzi, Faraja Nyalandu alisema kuwa kwa kijana kama Jacqueline Mengi kuwa na duka kama hilo ni hatua kubwa ambayo vijana wengi wanatamani kuifikia, kumpongeza kwa juhudi alizozifanya lakini pia kutoa ushauri kwa wengine ambao wanataka kufanikiwa.

"Kwanza nimpongeze Jacqueline amefanya uthubutu na amefanikiwa kuwa na kitu kama hiki, juhudi yake inaonyesha kuwa kila mtu tu anaweza kufanikiwa kama akiongeza juhudi katika jambo analotaka kulifanya," alisema Bi. Nyalandu.

Duka hilo la kisasa na la aina yake linapatikana Masaki karibu na hoteli ya Sea Cliff kwenye jengo la "Village Walk" gorofa ya kwanza.


Muonekano wa nje utaokutambulisha hili ndio duka la "Amorette".
Bi. Jacqueline Mengi akikata utepe kuzindua duka lake hilo.

TPSF & PIETRO FIORENTINI ENTER PARTNERSHIP TO ORGANIZE PRIVATE SECTOR WORKSHOP ON UGANDA-TANZANIA CRUDE OIL PIPELINE PROJECT

The Deputy Director of The Tanzania Private Sector Foundation (TPSF) (left), Mr Louis P. Accaro speaks to the media on the partnership between TPSF and Pietro Fiorentini to organize private sector workshop on Uganda-Tanzania Crude Oil Pipeline Project on 16th September 2016. The workshop will be held at the Dar es Salaam Serena Hotel on Tuesday, 27th September 2016. At the center is the Director of Pietro Fiorentini (TZ), Mr. Abdulsamad Abdulrahim flanked by the Sales Area Manager, Pietro Fiorentini (Italy), Mr. Davide Moiraghi.
The Director of Pietro Fiorentini (TZ), Mr. Abdulsamad Abdulrahim (Centre) speaks to the media on the partnership between Pietro Fiorentini and Pietro Fiorentini to organize private sector workshop on Uganda-Tanzania Crude Oil Pipeline Project on 16th September 2016. The workshop will be held at the Dar es Salaam Serena Hotel on Tuesday, 27th September 2016. On his right and left are the Deputy Director of TPSF, Mr. Louis Accaro and The Area Sales Manager, Pietro Fiorentini (Italy), Mr. Davide Moiraghi respectively.

Dar es Salaam, September 16th 2016: The Tanzania Private Sector Foundation (TPSF) has partnered with Pietro Fiorentini to organize a big workshop private sector workshop in which the technical pipeline team, along with the Senior Management of TOTAL will make a detailed presentation of the Uganda-Tanzania Crude Oil Pipeline Project, that will include the introduction of the project and the potential opportunities that are likely to be tapped by local and international companies. The Technical and Senior Management team will explain how the local workforce will be engaged, what the expected procurement packages entail and the extent to which procurement will be local. Technical and commercial experts who will oversee the entire value chain during this workshop will accompany the TOTAL Senior Management.

The Government of the Republic of Uganda has decided to export its crude oil through a pipeline to be constructed from Hoima District in the South Western Uganda to the port of Tanga in the North Eastern Tanzania.

The crude oil pipeline which will be constructed by Total E&P (French multinational integrated oil and Gas Company and one of the seven "Super Major" oil companies in the world) will cross the Tanzania-Uganda border through several regions of Tanzania from Kagera region down to the Port of Tanga.

WAZIRI MAHIGA APOKEA NAKALA ZA HATI ZA UTAMBULISHO ZA BALOZI MTEULE WA UINGEREZA NCHINI

Waziri wa Mambo ya Nje na Ushirikiano wa Afrika Mashariki, Dkt. Augustine Mahiga akipokea Nakala za Hati za Utambulisho kutoka kwa Balozi Mteule wa Uingereza Mhe. Sarah Cooke na kufanya mazungumzo naye. Mazungumzo yao yalijikita katika kuimarishaushirikiano kati ya Tanzania na Uingereza katika nyanja mbalimbali za maendeleo. Tukio hilo lilifanyika Wizarani tarehe 16 Septemba, 2016.
Dkt. Mahiga akizungumza na Balozi Mteule wa Uingereza nchini, Mhe. Cooke mara baada ya kupokea Nakala zake.

FLIGHTLINK WINS TOP 100 MID-SIZED COMPANIES AWARD

Flightlink's Flight Operations Manager, Jameel Kassam (centre in cream suit) posses for a souvenir photo after his company was declared the winner of the Top 100 mid-sized companies awards 2016/17, which took over the weekend in Dar es Salaam. Bank M were the main sponsors of the event. On his right is the Chief Guest Ministery of Industry, Trade and Investment Permanent Secretary, Dr. Adelhelm Meru. Others are KPMG partner Ketan Shah (second left), Bank M CEO Designate Jacqueline woiso, Mr. Leonard Mususa (third right) and other winners.
Flightlink Ltd won the Tanzania Top 100 Mid-Sized Companies award 2016/17. The winners were announced during the prestigious corporate event which took place on Friday night at the Mlimani City hall and being sponsored by Bank M.

Top 100 Mid-Sized Companies awards is the survey which celebrates business success among the country’s Mid-Sized Companies as well as entrepreneurs for contributing to the employment generation and growth of the Tanzanian economy in general. The survey, which is a brainchild of KPMG and The Citizen ranked Tanzania’s business with a turnover of between TZS 1bill and TZS 20bill, based on profitability, revenue growth, return on equity and level of indebtness, among other performance indicators. The award recognizes the agency’s contribution to the market and the country’s economy. Bank M has been sponsoring this initiative for a third year in a row.

PAUL MASHAURI KUTOA MIKOPO KWA WAJASIRIAMALI, LENGO KUZALISHA AJIRA MILIONI 3 HADI 2020


Mkurugenzi wa Kampuni ya HiTECH International, Paul Mashauri akizungumza na wakazi wa Kawe kuhusu kampeni ya VIWANDA NI FURSA
Katika kuunga mkono jitihada za Rais Magufuli za kuifanya Tanzania inakuwa nchi ya viwanda, Mkurugenzi wa Kampuni ya HiTECH International, Paul Mashauri ameanzisha kampeni mpya ya VIWANDA NI FURSA ambayo itatoa elimu kwa wananchi pamoja na kutoa mikopo ya mashine za viwanda vidogo vidogo kwa wajasiliamali.

Akielezea kampeni hiyo wakati akifanya semina kwa wakazi wa Kawe, Mashauri alisema kuwa ameanzisha kampeni hiyo ili kutoa elimu kwa wananchi lakini pia kuwapa mikopo ya mashine kwani watu wengi wanatamani kufanya biashara lakini wamekuwa wakishindwa kutokana na kukosa mtaji wa kufanya biashara.

MIKONO SPEAKERS INTERNATIONAL TO DONATE 10% OF ITS PROFITS TO KAGERA EARTHQUAKE VICTIMS AND NGO'S

Mikono Speakers International Chief Executive Officer, Deogratius Kilawe (centre) speaks to reporters at a press conference recently.