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Sunday, 30 September 2018
Sunday, 23 September 2018
TALLEST SKYSCRAPER IN AFRICA TO BE CONSTRUCTED IN MALINDI, KENYA
The Palm Exotica upon completion will tower a height of 370 metres, and will be a 61-storey building. It was designed by Italian architect Lorenzo Pagnini and is said to be a mixed used development.
The building’s developers are investors from New York, South Africa and Italian billionaire Franco Rosco who viewed the to tower as an additional to the coastal town’s clout as a luxury tourism hub.
The Palm Exotica
The mixed use development will feature tastefully furnished residential suites, eclectic restaurants and a vibrant 24-hour casino, a good feature for coastal entertainment.
Each intuitively designed floor plan, from studios, Presidential suites, exclusive Sky Apartments and Penthouse apartments are fitted with modern appliances and tasteful furniture. Floor-to-ceiling windows and expansive balconies will have uninterrupted views of the vibrant blues of the Indian Ocean and emerald tropical treetops.
Residents will also be spoilt for choice from a host of offerings including a casino, nightclub, retail mall, theatre and cinema, state-of-the-art fitness centre, wellness spa and children’s play area as well as a 5-star hotel and its lavish facilities.
Furthermore, the tower will give its companions uninterrupted views of vivid ocean colours and the picturesque Watamu panorama.
Construction Review
AGA KHAN NOW AWARDED FRANCE’S HIGHEST HONOUR
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| His Highness The Aga Khan after receiving an award from the French government, recognising his efforts to improve the lives of the most vulnerable around the world. |
The award is in recognition of the Aga Khan’s Diamond Jubilee, commemorating 60 years as Imam (spiritual leader) of the world’s Shia Ismaili Muslim community.
Presenting the award on behalf of President Emmanuel Macron on September 19, France’s Minister for Europe and Foreign Affairs, Jean-Yves Le Drian, praised His Highness’s commitment to the cause of peace, pluralism and development.
“France wishes to warmly express its gratitude by elevating you to the dignity of the Grand Cross in the order of the Legion of Honour. On behalf of the president of the republic, and by virtue of the powers conferred upon me, we bestow you the dignity of the Grand Cross of the Legion of Honour,” said Mr Le Drian.
The award ceremony was followed by a dinner hosted by the French government in honour of the Aga Khan. In attendance were government officials and leading members of French social, economic and cultural civil society organisations.
Members of His Highness’s family — his brother Prince Amyn, his son Prince Rahim and his daughter Princess Zahra — were also in attendance together with senior leaders from the Aga Khan Development Network and the Ismaili community.
TANZANIA'S TAZARA FLYOVER DONE, NOW IN USE
The completion of the Tanzania-Zambia Railway Authority (Tazara) overpass in Dar es Salaam comes as a relief to motorists, who previously had to endure many hours in traffic.
Constructed at the junction of the busy Mandela Expressway and Julius Nyerere Road in the commercial capital, the flyover — funded by the government of Japan through the Japan International Co-operation Agency (Jica) — is expected to be officially inaugurated by President John Magufuli in October, according to government spokesperson Hassan Abbas.
During peak hours, motorists using the road would wait for hours due to traffic congestion at the busy junction, which is a key link from the central business district to the airport, the Dar es Salaam port and densely populated residential areas.
Construction of the flyover started in October 2016 at an estimated cost of $45 million.
The road, which is expected to eventually reduce traffic jams by 80 per cent, consists of four lanes and a 425-metre bridge. It is also expected to increase productivity by reducing the time people spend on the road.
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ZIARA YA MJUKUU WA MALKIA WA UINGEREZA NCHINI, PRINCE WILLIAM
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| Prince William. |
“Prince” William atakapowasili nchini pamoja na mambo mengine atafanya mazungumzo na Rais wa Jamhuri ya Muungano wa Tanzania, Mhe. Dkt. John Pombe Joseph Magufuli. Aidha, atatembelea kikosi cha Maji cha Jeshi la Polisi; Bandari ya Dar es Salaam; Jengo la Wizara ya Maliasili na Utalii (Mpingo House); Hifadhi ya Taifa ya Mkomazi iliyopo mkoani Tanga na Chuo cha Usimamizi wa Wanyamapori cha Mweka kilichopo mkoani Kilimanjaro.
“Prince” William ni mmoja wa wanaharakati duniani wanaopinga biashara haramu ya bidhaa za wanyamapori na Uingereza imekuwa ikisifu juhudi zinazochukuliwa na Serikali ya Tanzania katika kupambana na vitendo vya ujangili.
“Prince” William ataondoka nchini tarehe 29 Septemba 2018 kuelekea nchini Kenya.
Imetolewa na:
Kitengo cha Mawasiliano ya Serikali,
Wizara ya Mambo ya Nje na Ushirikiano wa Afrika Mashariki,
Dar es Salaam, 21 Septemba 2018
BARCLAYS BANK ENGAGED TO RAISE AWARENESS ON BREAST CANCER
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| Barclays Bank Tanzania Head of Marketing and Corporate Relations, Aron Luhanga ( right), speaks to staff during an in-house seminar the bank organized in partnership with the Tanzania Breast Cancer Foundation (TBCF) to equip workers with the basics of breast cancer in Dar es Salaam on Friday this last week. |
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| Barclays Bank Tanzania Citizenship Manager, Hellen Siria (right), addresses the bank’s staff in Dar es Salaam on Friday last week at a workshop set up by the bank in collaboration with the Tanzania Breast Cancer Foundation (TBCF) aiming at drilling workers on the fundamentals of breast cancer. |
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| Program Coordinator at the Tanzania Breast Cancer Foundation, (TBCF), Kisa Mwakatobe (right), speaks during a seminar organized by Barclays in collaboration with the foundation to train the bank’s staff on the essentials of breast cancer on Friday last week in Dar es Salaam. |
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| One of the instructors at the seminar from Tanzania Breast Cancer Foundation (TBCF), Gloria Kida (right), narrates her past experience as a cancer patient including the treatment course she went through. |
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| A cross-section of Barclay’s Bank staff who attended the seminar on the fundamentals of breast cancer in Dar es Salaam. |
Friday, 21 September 2018
UBA LAUNCHES MOBILE APP TO EASE BANKING TRANSACTIONS
United Bank for Africa (UBA) today has launched a chat bank 'Leo' on the WhatsApp platform to ease banking transactions.
With Leo on WhatsApp, customers who are users and lovers of the app can perform basic banking services including checking their balances on the go, transferring funds, paying bills, among other services.UBA Executive Director, East and Southern Africa, Mr Emeke E. Iweriebor said customers could use their Facebook Messenger and WhatsApp applications to conduct banking transactions on their mobile devices.
Thursday, 20 September 2018
MARSH AND ATI ARRANGE INNOVATIVE BANK SURETY SOLUTION FOR TANZANIAN HIGH-SPEED RAIL PROJECT
Dar es Salaam, 20th September, 2018 – Marsh, a global leader in insurance broking and risk management solutions, has provided a US$95 million innovative bank surety solution to Yapı Merkezi Construction and Industry Inc. (Yapı Merkezi), to support the construction of a new high-speed electric railway line in Tanzania.
The solution was structured in collaboration with the African Trade Insurance Agency (ATI), a multilateral pan-African investment insurer, and is backed by ATI’s treaty reinsurers (led by Munich Re) and a consortium of facultative reinsurers Trust Re (lead facultative reinsurer), BarentsRe, AfricaRe, and ZepRe.
Yapı Merkezi was awarded the contract to design and build the new US$1.25 billion, 300km (including 95km sidings/passing loops), high-speed electric railway line by Tanzanian state-run railway firm RAHCO: Reli Assets Holding Company (currently TRC: Tanzania Railways Corporation).
The line from Dar es Salaam to Morogoro will replace the century-old track and will have the capacity to transport 17 million tonnes of cargo each year.
To help enable Yapı Merkezi to comply with project requirements to use local Tanzanian banks, Marsh’s Global Bank Surety Syndication team, headed by Manuel López, structured an innovative solution that guarantees Yapı Merkezi’s contractual performance-related obligations and the repayment of advance payments.
Wednesday, 19 September 2018
TIGO AND CLOUDS LAUNCH "TIGO FIESTA 2018 - VIBE KAMA LOTE" FESTIVAL
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| Tigo’s Head of Marketing Services, William Mpinga (right) briefs journalists in Dar es Salaam at the launch of the Tigo Fiesta 2018 – Vibe Kama Lote festival that is expected to give local artists the opportunity to perform in 15 regions of the country, starting in Morogoro on 29th September. Flanking him are BASATA Executive Secretary, Godfrey Mngereza (left) and Tigo Fiesta 2018 Organizing Committee Secretary, Gardner Habash (center). |
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| BASATA Executive Secretary, Godfrey Mngereza (left) briefs journalists about the Tigo Fiesta 2018 – Vibe Kama Lote festival receiving all necessary approvals from BASATA. Tigo Fiesta 2018 is expected to give local artists the opportunity to perform in 15 regions of the country, starting in Morogoro on 29th September. Flanking him are Tigo’s Head of Marketing Services, William Mpinga (right) and Tigo Fiesta 2018 Organizing Committee Secretary, Gardner Habash (center). |
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| Tigo Fiesta 2018 Organizing Committee Secretary, Gardner Habash (center) briefs journalists about preparations for the Tigo Fiesta 2018 – Vibe Kama Lote festival that is expected to give local artists the opportunity to perform in 15 regions of the country, starting in Morogoro on 29th September. Flanking him are Tigo’s Head of Marketing Services, William Mpinga (right) and BASATA Executive Secretary, Godfrey Mngereza (left). |
TANZANIA TO SWITCH TO NATURAL GAS-POWERED BUSES
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| Rapid transit bus in Dar es Salaam. The project, one of its kind in East Africa, is expected to transform mobility and accessibility in the city. |
The Tanzania Petroleum Development Corporation (TPDC) acting director-general, Mr Kapuulya Musomba, says the entire project will see at least 800 buses switch to natural gas.
“The University of Dar es Salaam and Dar es Salaam Institute of Technology are ready to install the natural gas systems on the vehicles,” he said.
Dar es Salaam Rapid Transit (Dart) chief executive, Mr Ronald Lwakatare, said the system is available to all including private transport operators.
To install the system, a vehicle owner requires between Tsh1.6 million ($700) and Tsh2 million ($875) depending on the size of the vehicle.
“Experts have told us that the use of natural gas would save between 30 to 50 per cent of what one spends on fuel. We therefore agreed that all Dart buses should use natural gas. This will also help cut fares significantly,” Mr Musomba said.
Dart project
Mr Musomba also said that the Dart phase two project is underway.
Phase two runs on the southeast part of the city, a total of 19.3km. It includes procurement of buses and the fare collection system. More than 100 trunk buses with a capacity of 140 passengers will provide both normal (stopping at all stations) and express services (stopping only at connector stations).
Inaugurated in 2015, the first phase of the project comprises 25km of special roads connecting the suburbs to the central business district.
The entire project has six phases which, upon completion in 2035, will benefit 90 per cent of Dar es Salaam residents.
THE AFRICAN DEVELOPMENT BANK AND MCB GROUP LAUNCH AFRICAN DOMESTIC BOND FUND
The ADBF arose out of the Bank’s African Financial Markets Initiative (AFMI), which aims to strengthen African economies by reducing their dependency on foreign currency denominated debt, increasing the range of available financing options, and acting as a catalyst for regional market integration. The Bank is acting as an anchor investor of ADBF, to which it has committed USD$ 25 million.
ADBF will track the performance of the AfDB/AFMISM Bloomberg® African Bond Index 25% Capped, an index that comprises African local currency sovereign bonds of eight African markets, namely: Botswana, Egypt, Kenya, Namibia, Nigeria, South Africa, Ghana and Zambia. It is intended that sovereign bonds of other countries will be included in the index over time.
MCB Investment Management Co Ltd (MCBIM), a subsidiary of MCB Capital Markets, has been appointed as Fund Manager for the ADBF. MCBIM pioneered investing in the pan African fixed income asset class in 2014, when it launched the MCB Africa Bond Fund, an actively managed mutual fund focused on African fixed income. This fund has consistently outperformed its benchmark.
MCBIM’s Fixed Income team is led by Abhimanyu Yadav, who has had a key role in positioning MCBIM as a leading Africa focused asset manager, having worked in various roles in the asset management industry in Asia, Europe, North America and Africa.
“THE STATUS QUO MUST CHANGE.” - ADESINA TELLS FINDEV CANADA CONFERENCE IN MONTREAL
“No country can possibly move forward in the 21st century if it leaves half of its talent on the sidelines,” African Development President, Akinwumi Adesina told delegates at the launch of FinDev Canada, in Montreal, while making the Bank’s case for supporting women.
FinDev Canada is a subsidiary of Export Development Canada (EDC), the country’s export credit agency. Launched six months ago, FinDev’s mandate is to support the growth and sustainability of businesses in developing markets.
According to Honourable Marie-Claude Bibeau, Minister of International Development, “With its universities, international organizations and multicultural population, Montreal is the ideal home for FinDev Canada. From its Montreal base I am confident it will play a critical role in advancing our country’s international development agenda by offering a blend of public and private capital and building partnerships with businesses in developing countries, especially those operated by women and youth.”
Adesina gave the keynote address at the inaugural conference.
“All of us in this room understand the need to support women instinctively. Many of us have come from places – and have family in places – where the labor of women is absolutely essential to holding communities together. And yet so often, their labor is not even fully recognized. And all too often, women are denied their fair share of wages for equal work,” he said.
According to Adesina, the challenge was not just in Africa or even in North America. “In every society, this challenge represents a truly foolish squandering of resources.”
TIGO NA CLOUDS WAZINDUA MSIMU WA TIGO FIESTA 2018 – VIBE KAMA LOTE
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| Mkuu wa Huduma za Masoko wa Tigo, William Mpinga (kulia) akizungumza na waandishi wa habari jana jijini Dar Es salaam katika uzinduzi wa msimu mpya wa Tigo Fiesta 2018 – Vibe Kama Lote unaotarajiwa kuwapa fursa wasanii wa nyumbani kutoa burudani za muziki katika mikoa 15 nchini, kuanzia Morogoro tarehe 29 Septemba. Pamoja naye ni Katibu Mtendaji wa Baraza la Sanaa la Taifa (BASATA), Godfrey Mngereza (kushoto) pamoja na Katibu Mkuu Mtendaji wa Kamati ya Maandalizi ya Tigo Fiesta 2018, Gardner Habash (katikati). |
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| Katibu Mtendaji wa Baraza la Sanaa la Taifa (BASATA), Godfrey Mngereza (kushoto) akizungumza na waandishi wa habari jana kuhusu msimu mpya wa Tigo Fiesta 2018 – Vibe Kama Lote kupata vibali kutoka kwa baraza hilo. Tigo Fiesta 2018 inatarajiwa kuwapa fursa wasanii wa nyumbani kutoa burudani za muziki katika mikoa 15 nchini, kuanzia Morogoro tarehe 29 Septemba. Pamoja naye ni Katibu Mkuu Mtendaji wa Kamati ya Maandalizi ya Tigo Fiesta 2018, Gardner Habash (katikati) na Mkuu wa Huduma za Masoko wa Tigo, William Mpinga (kulia). |
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| Katibu Mkuu Mtendaji wa Kamati ya Maandalizi ya Tigo Fiesta 2018, Gardner Habash (katikati) akizungumza na waandishi wa habari leo kuhusu maandalizi ya msimu mpya wa Tigo Fiesta 2018 – Vibe Kama Lote unaotarajiwa kuwapa fursa wasanii wa nyumbani kutoa burudani za muziki katika mikoa 15 ya nchi, kuanzia Morogoro tarehe 29 Septemba. Pamoja naye ni Katibu Mkuu Mtendaji wa Kamati ya Maandalizi ya Tigo Fiesta 2018, Gardner Habash (katikati) na Mkuu wa Huduma za Masoko wa Tigo, William Mpinga (kulia). |
BANCABC TANZANIA PARTNERS WITH MASTERCARD AND VODACOM TO INTRODUCE ONLINE PAYMENT SOLUTIONS
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| Mkuu wa Kitengo cha Hazina BancABC Tanzania Barton Mwasamengo akiongea na waandishi wa Habari jijini Dar es Salaam mwishoni mwa wiki baada ya kuzindua huduma ya Vodacom MasterCard Virtual card. Huduma ya Vodacom Virtual Card ni maalum kwa kulipia huduma na bidhaa kwa kupitia M-Pesa kwa njia ya mtandao na itatumika ndani na nje ya nchi ikiwa ni ushirikiano baina ya BancABC, Vodacom Tanzania na MasterCard. |
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| Mkuu wa Kitengo cha Hazina BancABC Tanzania Barton Mwasamengo (kushoto), Raghav Prasad Rais wa MasterCard Ukanda wa Sub African Sahara (kati kati) na Hisham Hendi Kaimu Mkurugenzi Vodacom Tanzania (kulia) wakipiga makofi baada ya kuzindua kuzindua huduma ya Vodacom MasterCard Virtual card jijini Dar es Salaam mwishoni mwa wiki. Huduma ya Vodacom Virtual Card ni maalum kwa kulipia huduma na bidhaa kwa kupitia M-Pesa kwa njia ya mtandao na itatumika ndani na nje ya nchi ikiwa ni ushirikiano baina ya BancABC, Vodacom Tanzania na MasterCard. |
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| Mkuu wa Kitengo cha Hazina BancABC Tanzania Barton Mwasamengo (kushoto), Raghav Prasad Rais wa MasterCard Ukanda wa Sub African Sahara (kati kati) na Hisham Hendi Kaimu Mkurugenzi Vodacom Tanzania (kulia) wakishikana mikono baada ya kuzindua kuzindua huduma ya Vodacom MasterCard Virtual card jijini Dar es Salaam mwishoni mwa wiki. Huduma ya Vodacom Virtual Card ni maalum kwa kulipia huduma na bidhaa kwa kupitia M-Pesa kwa njia ya mtandao na itatumika ndani na nje ya nchi ikiwa ni ushirikiano baina ya BancABC, Vodacom Tanzania na MasterCard. |
BancABC Tanzania, which is part of Atlas Mara a London listed entity, has made yet another step ahead of the market by partnering with MasterCard and Vodacom Tanzania through M-Pesa service to introduce online payment solutions – The Vodacom MasterCard Virtual card for both local and international purchases. The service will enable local businesses and merchants to accept interoperable digital payments, many for the first time. Consumers are now able to make quick, easy and secure payments with their mobile money wallets at any time.
The virtual card will allow M-Pesa mobile wallet holders to make payments on any local or international website or app so long as MasterCard is accepted for payment without the need for a bank account or credit card. Customers can request the virtual card from the M-Pesa USSD menu or soon on the M-Pesa app and top the card up via the wallet. Once the card is topped up with funds, the virtual card is ready for use.
Speaking in Dar es Salaam during the launch of the Vodacom MasterCard Virtual card, the BancABC Tanzania Head of Treasury Barton Mwasamengo said currently we are living in a world where payments are processed every fraction of a second, financial institutions are increasingly challenged to improve the profitability of today’s business whilst they accommodate a steady stream of new transactions, channels and technologies. Due to that factor, BancABC is striving to expand the various channels of its transactions processing systems to new levels by collaborating with other partners in the market to increase its penetration with an objective of taping into the unbanked, Mwasamengo said.
Tuesday, 18 September 2018
TANZANIA CITES BIAS AS IT CHANGES LAWS GOVERNING ARBITRATION
The key highlight of the bill is withdrawing the country from international arbitration bodies.
This means that investors in Tanzania can only seek recourse over disputes such as cancellation of licences, breach of contract, confiscation, expropriation, nationalisation and/or deprivation through local courts.
This is designed to end suits by foreign investors before international arbitration bodies.
The move comes in the wake of Tanzania’s recent loss of an appeal before Washington-based International Centre for Settlement of Investment Disputes (ICSID), where the Tanzania Electric Supply Company was ordered to pay Standard Chartered Bank $148.4 million for a breach of a power contract.
Mr Kilangi told Parliament that international bodies are biased, forcing the government to use its own courts, which are fair.
Although some legislators opposed the amendment on the basis that it was impinging upon the rights and freedoms of investors seeking redress for claims of contractual breaches by the government in neutral courts outside the country, its passing means that Tanzania is determined to push ahead with laws that give the government tighter control.
UBALOZI WA TANZANIA NCHINI INDIA WATANGAZA KUANZA RASMI KWA SAFARI ZA AIR TANZANIA NCHINI HUMO
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| Mhe. Balozi Luvanda akitangaza rasmi kuanza kwa safari za Shirika la Ndege la Tanzania nchini India huku picha ya Ndege ya Shirika hilo aina ya Dreamliner ikionekana. Naye Mkurugenzi wa Bodi ya Utalii nchini (TTB), Bi. Devotha Mdachi ambaye yupo nchini India kushiriki maonesho hayo aliyoshiriki kuandaa anaonekana akichukua kumbukumbu ya tukio hilo. |
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| Mkurugenzi wa Bodi ya Utalii Tanzania (TTB), Bibi Devotha Mdachi naye akizungumza wakati wa maonesho yaliyoandaliwa na Ubalozi wa Tanzania nchini India kwa kushirikiana na Bodi hiyo. |
Maonesho hayo ambayo yatafanyika kwenye miji mikubwa mitatau ya India yaani New Delhi, Ahmedabad na Mumbai yanalenga kutangaza vivutio mbalimbali vya utalii vilivyopo nnchini.
Akizungumza wakati wa maonesho hayo yaliyofanyika katika Hoteli ya Roseate, Aerocity jijini New Delhi, Balozi wa Tanzania nchini India, Mhe. Baraka Luvanda alisema kuwa anaona fahari kubwa kushiriki maonesho hayo muhimu kwa Tanzania na India na alitumia fursa hiyo kutangaza rasmi kuanza wa safari za kwanza za ndege ya shirika la ndege la Tanzania mjini Mumbai.
Balozi Luvanda alisema kuwa safari za ndege hiyo nchini India ni fahari kubwa kwa Tanzania kutokana na ukweli kwamba nchi hizi mbili zina mahusiano ya kihistoria kwani mbali na kuunganishwa na Bahari ya Hindi, Tanzania na India ni marafiki na zimekuwa zikishirikiana katika Nyanja mbalimbali zikiwemo biashara, utamaduni na mawasiliano ya mtu mmoja mmoja.
Mhe. Balozi Luvanda alisisitiza kuwa, safari za ndege ya Shirika la Ndege la Tanzania nchini India hususan katika mji wa Mumbai zitaimarisha sekta ya utalii nchini kwa kuongeza idadai ya watalii kutoka nchini humo ambao kwa sasa takribani watalii 40,000 kutoka nchini humo wanatembelea Tanzania kwa mwaka. Pia zitarahisha safari za wanafunzi wa kitanzania wanaosoma kwenye vyuo vikuu mbalimbali vya India ambao idadi yao imeongezeka na kufikia 2500 kwa mwaka.
WAZIRI MAHIGA AFUNGUA RASMI OFISI ZA UWAKILISHI WA UBALOZI WA UJERUMANI JIJINI DODOMA
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| Mhe. Waziri Mahiga kwa pamoja na Balozi Waechter wakifungua kitambaa kuashiria kuwa Ofisi Ndogo za Uwakilishi wa Ubalozi wa Ujerumani zimefunguliwa rasmi jijini Dodoma. |
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| Mhe. Balozi Waechter akizungumza ambapo alisema wamefungua Ofisi hizo ili kuendelea kuimarisha ushirikiano uliopo katika nyanja mbalimbali kati ya Tanzania na Ujerumani. |
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| Mhe. Waziri Mahiga akiwa katika picha na Mhe. Balozi Waechter pamoja na viongozi wengine walioshiriki hafla hiyo. |
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| Awali Mhe. Waziri Mahiga alisaini Kitabu cha Wageni mara baada ya kuwasili kwenye Ofisi Ndogo za Uwakilishi wa Ubalozi wa Ujerumani zilizopo jijini Dodoma. Kushoto ni Balozi wa Ujerumani nchini, Mhe. Detlef Waechter. Wa pili kulia ni Mkuu wa Mkoa wa Dodoma, Mhe. Dkt. Binilith Mahenge na kulia ni Kaimu Mkurugenzi wa Idara ya Ulaya na Amerika katika Wizara ya Mambo ya Nje na Ushirikiano wa Afrika Mashariki, Bw. Jestas Nyamanga. |
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| Picha ya pamoja na wafanyakazi wa Ubalozi wa Ujerumani nchini. |
Monday, 17 September 2018
AFRICAN DEVELOPMENT BANK PRESIDENT ADESINA TO EMBARK ON FOUR-DAY WORKING VISIT TO CANADA TO STRENGTHEN BILATERAL TIES
Other senior members of the delegation include Stella Kilonzo, Senior Director of the Africa Investment Forum; Vanessa Moungar, Director for Gender, Women and Civil Society; and Timothy Turner, Group Chief Risk Officer.
During his visit, President Adesina will hold several meetings with Canadian government officials including International Development Minister, Marie-Claude Bibeau; Finance Minister, Bill Morneau and International Trade Diversification Minister, Jim Carr. The following areas of common interest: innovative finance, gender and climate change, renewable energy are expected to top discussions.
On Monday, 17 September, President Adesina will deliver a keynote address at the launch of FinDev on the theme: “What could women do with $3Billion?” FinDev is a subsidiary of Export Development Canada (EDC), the country’s export credit agency, which opened for business in January 2018 with a mandate to support the growth and sustainability of businesses in developing markets.
ZAMBIA DEFENDS TIES WITH CHINA AMID DEBT-ASSET SWAP CLAIMS
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| Zambian President Edgar Lungu. |
“Our friendship with China is mutual and no amount of malicious propaganda will deter us from the opportunities that lie in what we share," he told MPs in Parliament on Friday.
"I urge everyone to remain focused and not be moved by the ongoing mischaracterised information suggesting that our friendship with China suggest colonialism," he said, adding that "China has never been known for such!”
On Thursday, Finance Minister Margaret Mwanakwate dismissed media reports that Zambia was offering its electricity firm, broadcaster, and the Kenneth Kaunda International Airport to China as security against loans.
“The Zambian Government has not offered any state-owned enterprise to any lender as collateral for any borrowing,” Ms Mwanakatwe said.
She also dismissed claims that the government was exploring debt/asset swap options.
VOLUNTEERS TEAM UP TO MARK WORLD CLEANUP DAY IN DAR ES SALAAM
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| Volunteers clean up Coco Beach area in Dar es Salaam as part of celebrations in marking the World Cleanup Day held over the weekend under the theme “Let’s Do It”, which focuses on improving waste management in the communities. |
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| Kinondoni District Commissioner, Daniel Chongolo speaks to Environmental Activists at Coco Beach in Dar es Salaam over the weekend. |
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| Environmental Activists from Ferry Market, Kigamboni pick up trash during the World Cleanup Day which was held over weekend under the theme “Let’s Do It” which focuses on improving waste management in the communities. |
VODACOM M-PESA 10 YEAR ANNIVERSARY CELEBRATIONS COME TO A CLIMATIC END
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| Vodacom Tanzania M-commerce Director Ashtush Tiwary (right) hands over keys to the final M-pesa car to Lucy Sarah Ismail (second right) during the campaign climax event in Dar es Salaam over the weekend. Looking on is Vodacom Corporate Affairs Director, Rosalynn Mworia (second left) and the Network Director, Alec Mulonga (first left). The campaign ran for 10 weeks, saw a total of 10 M-pesa customers walking home with brand new cars and other 120 winners winning a total of 120 million. |
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| Vodacom Tanzania Corporate Affair Director, Rosalynn Mworia ignites the engine for Lucy Sarah Ismail, the 10th winner of the M-pesa car handed over to her during the campaign's climax event in Dar es Salaam over the weekend. The campaign ran for 10 weeks, saw a total number of 10 M-pesa customers walking home with brand new cars and other 120 winners winning a total of 120 million. |
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| Vodacom Tanzania Corporate Affair Director, Rosalynn Mworia (centre), hands over car keys and registration papers to Lucy Sarah Ismail (left) the 10th winner of the Mpesa in Dar es Salaam over the weekend. Looking on is Vodacom M-Commerce Director, Ashtush Tiwary (right). |
The ten-week long host of festivities in appreciation of the over 8.2 million M-Pesa customers observed the journey of the mobile money platform from its humble beginnings as a gateway for money transfers to a robust ecosystem of services including payment for utilities, mobile banking, savings and loans and a secure platform for international transactions. In fact, nowadays, any vendor or service provider not accepting M-Pesa will be left behind.
Speaking at the final handover ceremony, the Acting Managing Director, Hisham Hendi reflected on the evolution of the mobile money platform in Tanzania; “technology has remarkably advanced the capabilities of M-Pesa allowing 55% of the population access to financial services. We recognize this significant milestone in the history of our company and the contribution of our customers, wakalasand other partners in the success of M-Pesa in Tanzania – the best is yet to come.’
Thursday, 13 September 2018
FIVE TOP KENYAN BANKS FINED $3.92M FOR HANDLING STOLEN YOUTH FUNDS
The banking regulator said Wednesday that it had concluded its first phase of investigations of the banks that were used by persons suspected of transacting illegally with the NYS.
"The investigations prioritised banks that handled the largest flows, namely; Standard Chartered Bank Kenya Ltd, Equity Bank Kenya Ltd, KCB Bank Kenya Ltd, Co-operative Bank of Kenya Ltd, and Diamond Trust Bank Kenya Ltd," said CBK in a statement.
The lenders were found to have violated the anti-money laundering and combating financing of terrorism laws and regulations by failing to report large cash transactions, failure to undertake adequate customer due diligence, lack of supporting documentation for large transactions, and lapses in reporting of suspicious transaction reports to the Financial Reporting Centre.
Each of the five banks has been penalised based on the extent of violations, which will see KCB Group pay the largest fine of Ksh149.5 million ($1.5 million). Equity has been fined Ksh89.5 million ($895,000), StanChart will pay Ksh77.5 million ($775,000), DTB Ksh56 million ($560,000) and Co-op Bank Ksh20 million ($200,000).
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