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Tuesday, 30 June 2015

VIBE, TANZANIA'S NO. 1 ENTERTAINMENT MAGAZINE IS NOW FREE!!!


A prominent entertainment monthly magazine, The Vibe, which is published by ABC Bros has been re-launched will now be distributed free to the readers. 

This will make it Tanzania’s No. 1 FREE entertainment youth magazine.

The magazine Editor in Chief, Allan Rwechungura reiterated that since the magazine was launched, it has achieved all its objectives and is now the leading entertainment magazine in Tanzania. “On behalf of the Vibe Magazine team, I deeply appreciate your support and its great to know that we can always count on you”, he said.

Rwechungura said from this month, Vibe Magazine will be distributed free of charge to its readers and advertisers, which means there will be an increase in the readership and thus more exposure for advertisers. “We promise to bring more news on entertainment, sports as well as other issues relevant to entrepreneurship skills targeting to empower and educate Tanzanian youth. I hope our readers will enjoy more”, said Rwechungura.

He said the magazine will be distributed in prime locations around the country, in saloons/barbershops, in colleges and universities as well as remote areas to enable many as many readers as possible to get entertainment news. Vibe magazine will also be available online.

NJOO SABASABA UJUE UMOJA WA MATAIFA, MIAKA 70 YA KUTETEA USTAWI WA DUNIA

Muonekano wa nje wa Banda la Shirika la Umoja wa Mataifa (UN), Tanzania lililopo ndani ya Karume Hall wanaoshiriki katika Maonesho ya 39 ya Biashara ya Kimataifa ya Dar es Salaam ya sabasaba yaliyoanza kurindima jana kwenye katika viwanja vya Mwalimu J.K. Nyerere, barabara ya Kilwa, jijini Dar.(Picha zote na Zainul Mzige wa modewjiblog).
Modewji blog team, Sabasaba

Shirika la Umoja wa Mataifa (UN), Tanzania wapo katika maonyesho ya 39 ya Biashara ya Kimataifa ya Dar-es-salaam yaliyoanza kurindima mapema jana.

UN Tanzania ambao wapo katika banda la Karume ndani ya mabanda hayo ya Sabasaba, kutoa elimu inayolenga kuionyesha jamii mafanikio, changamoto na fursa zilizopo katika Umoja wa Mataifa ambapo mwaka huu unafikisha miaka 70 tangu shirika hilo lianzishwe.

“Huu ni mwaka muhimu sana kwani safari ya Umoja wa Mataifa ilianza mwaka 1945, hadi kufikia sasa kuwa umefikia wapi, tupo wapi na tunaelekea wapi katika kushughulikia changamoto za kidunia ikiwemo Amani na usalama, changamoto za maendeleo, changamoto za mabadiliko ya tabia nchi, na changamoto zingine”, alieleza Afisa Habari wa kituo cha Habari cha Umoja wa Mataifa (UNIC), Usia Nkhoma Ledama.

KONGAMANO LA SDG’s LAFANYIKA KWA MAFANIKIO DODOMA

Mkurugenzi Mtendaji mpya wa Taasisi Huru ya Utafiti wa Uchumi na Jamii (ESRF), Dk. Tausi Kida, akitoa maelezo ya kongamano kabla ya kumkaribisha mgeni rasmi kulifungua kongamano kubwa la siku mbili la kujadili namna taifa linavyojiandaa kutekeleza malengo mapya ya Maendeleo endelevu (SDGs) limefanyika mwishoni mwa wiki mjini Dodoma ambalo liliandaliwa na taasisi yake.

Na Mwandishi wetu, Dodoma

KONGAMANO kubwa la siku mbili la kujadili namna taifa linavyojiandaa kutekeleza malengo mapya ya Maendeleo endelevu (SDGs) limefanyika mwishoni mwa wiki mjini Dodoma.

Kongamano hilo lililoandaliwa na Taasisi ya Utafiti ya Masuala ya Uchumi na jamii (ESRF) limelenga kuwakutanisha wataalamu kutoka Tanzania Bara na Visiwani kujadili namna ya kupata fedha za kutekeleza malengo hayo baada ya kumalizika kwa malengo ya maendeleo ya millennia (MDG’s) baadae mwaka huu.

MO ASSURANCE YAJIPANGA KUTOA HUDUMA BORA KWA WATANZANIA MAONYESHO YA SABASABA

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Meneja mwendeshaji wa Kampuni ya bima ya MO (MO ASSURANCE), Ravinshankar Venkatrama (wa pili kushoto) akiwa na timu ya wafanyakazi wa kampuni hiyo watakaokua wanatoa huduma katika Banda la MO ASSURANCE lilipo ndani ya mabanda ya MeTL Group kwenye maonyesho ya 39 ya Biashara ya Kimataifa ya Dar-es-salaam yaliyoanza kurindima jana kwenye mabanda ya Sabasaba katika viwanja vya Mwalimu J.K. Nyerere, barabara ya Kilwa, jijini Dar es Salaam. Kutoka kulia ni Afisa wa kampuni ya MO ASSURANCE, Mariot Ndomba, Ofisa Mtendaji Masoko wa Kampuni ya bima ya MO (MO ASSURANCE), Tawheeda Isaack pamoja na Meneja masoko msaidizi wa kampuni ya MO ASSURANCE, Esther Moringi.

MO Assurance kampuni ya bima inayohudumia nchi nzima kwa kutoa huduma mbalimbali za bima za majanga ikiwemo ajali ya moto, bima ya wizi, bima za ajali mbalimbali.

“MO Assurance tunapatikana ndani ya jengo la CRDB gorofa ya nane, mtaa wa Azikiwe ambapo tunatoa huduma mbalimbali za bima.” alibainisha meneja masoko msaidizi, Esther Moringi.

Aidha, kwa sasa MO Assurance yenye kauli mbiu ya ‘Amani zaidi, Uhakika zaidi’ ina matawi sehemu mbalimbali nchini ikiwemo Mwanza, Singida, Arusha na kwingineko. Pia kwa sasa ni miongoni mwa makampuni ya bima nchini yaliyofanikiwa ikiwemo kutoa huduma kwa wateja wa aina tofauti wakiwemo wa ndani na nje wanaoishi nchini.

Kampuni ya MO Assurance ni kampuni Mama ya MeTL Group ambapo unaweza kuwasiliana nao kupitia barua pepe: infomoa@moassurance.co.tz ama kutembelea mtandao wao kupitia : moassurance.co.tz

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Kutoka kushoto ni Meneja mwendeshaji wa Kampuni ya bima ya MO (MO ASSURANCE), Ravinshankar Venkatrama, Meneja masoko msaidizi wa kampuni ya mo ASSURANCE, Esther Moringi, Afisa wa MO ASSURANCE, Mariot Ndomba pamoja na Ofisa Mtendaji Masoko wa Kampuni ya bima ya MO (MO ASSURANCE), Tawheeda Isaack katika picha ya pamoja wakiwa tayari kutoa huduma kwa wateja mbalimbali watakaotembelea katika Banda la MeTL Group lililopo kwenye maonyesho ya 39 ya Biashara ya Kimataifa ya Dar-es-salaam yaliyoanza kurindima jana kwenye mabanda ya SabaSaba katika viwanja vya Mwalimu J.K. Nyerere, barabara ya Kilwa, jijini Dar es Salaam.

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Ofisa Mtendaji Masoko wa Kampuni ya bima ya MO (MO ASSURANCE), Tawheeda Isaack akipiga 'selfie' na wafanyakazi wenzake.

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Ofisa Mtendaji wa Masoko wa Kampuni ya bima ya MO (MO ASSURANCE), Tawheeda Isaack katika picha ya pamoja na mbunifu wa mavazi nchini, Ally Rehmtulah alipotembelea banda la MO ASSURANCE.

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Muonekano wa nje wa banda la kampuni ya MO ASSURANCE ndani ya maonyesho ya 39 ya biashara ya kimataifa yalioanza kurindima katika viwanja vya Sabasaba katika barabara ya Kilwa, jijini Dar es Salaam.

TWIGA CEMENT WATOA SOMO KWA WATENGENEZA MATOFALI

Mkurugenzi wa Biashara wa Kampuni ya Saruji ya Twiga (TPCC), Simon Delens (kushoto), akizungumza katika semina ya utengenezaji wa matofali iliyoandaliwa na kampuni hiyo ambapo zaidi ya watengeneza matofali 200 walifundishwa jinsi ya utengenezaji bora wa tofali, masuala ya afya na usalama kazini na biashara ya bidhaa hiyo. Semina hiyo ilifanyika jijini Dar es Salaam mwishoni mwa wiki. Wengine kushoto kwake ni Mhandisi Emmanuel Owoya na Meneja Usambazaji, Tumaini Joseph.
Mkurugenzi wa Biashara wa Kampuni ya Saruji ya Twiga (TPCC), Simon Delens (kulia), akizungumza katika semina ya utengenezaji wa matofali iliyoandaliwa na kampuni hiyo ambapo zaidi ya watengeneza matofali 200 walifundishwa jinsi ya utengenezaji bora wa tofali, masuala ya afya na usalama kazini na biashara ya bidhaa hiyo. Semina hiyo ilifanyika jijini Dar es Salaam mwishoni mwa wiki.
Ofisa Uhusiano wa Kampuni ya Twiga Cement, Martha Haule (kulia) akizungumza katika semina hiyo.
Meneja Usambazaji wa Kampuni ya Saruji ya Twiga (TPCC), Tumaini Joseph (wa pili kushoto) akikabidhi cheti kwa mmoja wa washiriki wa semina ya utengenezaji wa matofali, Ramadhani Msati (kulia) iliyoandaliwa na kampuni hiyo ambapo zaidi ya watengeneza matofali 200 walifundishwa jinsi ya utengenezaji bora wa tofali, masuala ya afya na usalama kazini na biashara ya bidhaa hiyo. Semina hiyo ilifanyika jijini Dar es Salaam. Wengine kutoka kushoto ni, Meneja Afya na Usalama wa TPCC, Alfred Antony na Mhandisi Emmanuel Owoya wa Twiga Cement.

MAABARA YA MAFUNZO ITEMBEAYO YAZINDULIWA RASMI

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Mganga Mkuu Wizara ya Afya na Ustawi wa jamiii, Dk. Magreth Mhando akisoma hotuba ya uzinduzi wa maabara itembeayo kwa ajili ya mafunzo ya upasuaji. Kulia ni Naibu Balozi wa Ireland nchini, Maire Matthews na kushoto ni Mkurugenzi wa ECSA anayeshughulikia Afya ya jamii Prof Yoswa Dambisya.

Na Mwandishi wetu

Mganga Mkuu wa Wizara ya Afya na Ustawi wa Jamii, Dk. Magreth Mhando mwishoni mwa juma alizindua maabara ya upasuaji ya mafunzo inayotembea iliyotolewa kwa chuo kitembeacho cha COSECSA na serikali ya Ireland.

Alifanyakazi hivyo kwa niaba ya Waziri wa Afya na Ustawi wa jamii, Dk Seif Rashid.

Maabara hiyo ambayo ni mradi wa majaribio wa chuo hicho wenye lengo la kufundisha wapasuaji pale walipo imegharimu dola za Marekani 100,000.

AVIATION: THE NEXT INFRASTRUCTURE GROWTH FRONTIER FOR AFRICA

The air transport industry in Africa is on the resurgence and aviation is, “The next infrastructure growth frontier for Africa”. This was the message at the International Air Transport Association (IATA) Aviation Day for Africa and the Middle East held at Intercontinental Hotel in Nairobi, Kenya, on June 23-24, 2015 under the theme, “Connecting Africa: The Linkage of Regulation, Capacity and Infrastructure”.

This gathering covered Africa and the Middle East with a focus on Africa and there will be a follow-up event in Abu Dhabi in October 2015 with a focus on the Middle East and Africa. Participants included aviation and airline industry leaders and experts as well as representatives from the African Civil Aviation Commission (AFCAC), African Airlines Association (AFRAA) and the International Civil Aviation Organization (ICAO).

FASTJET ANNOUNCES NEW ROUTE LINKING TANZANIA AND MALAWI


Low-cost airline expands its pan-African network with a new, direct international route between commercial centres of Dar es Salaam and Lilongwe

30 June 2015 – fastjet Tanzania has announced that flights on its newest and sixth international route will commence on 27th July 2015 between Dar es Salaam, Tanzania and Lilongwe, Malawi.

Services between Dar es Salaam’s Julius Nyerere International Airport and Malawi’s Lilongwe International Airport will initially operate twice a week on Mondays and Fridays, using fastjet’s modern Airbus A319 jet aircraft with seating for up to 156 passengers. More capacity is expected to be added by fastjet to this route as demand increases for its safe, quick, affordable and on-time service.

Flights will depart Dar es Salaam at 10h25 and land in Lilongwe at 11h05, with a flight time of 1 hours 40 minutes. The return flight to Dar es Salaam departs at 11h40, landing at 14h20 (all local times).

Tickets for flights on the direct route are on sale immediately, with fares starting from US$50 one-way, excluding airport and government taxes with the fastjet promise that the earlier the booking is made, the lower the fare.

FACEBOOK OPENS FIRST AFRICAN OFFICE IN JOHANNESBURG

Nunu Ntshingila-Njeke, Head of Africa, Facebook.
JOHANNESBURG, South-Africa, June 29, 2015/ – Facebook (NASDAQ:FB) has opened its first office in Africa to further the company’s commitment to help businesses connect with people and grow locally and regionally. Based in Melrose Arch, Johannesburg, Facebook's newest business office will be headed by Ogilvy veteran, Nunu Ntshingila, the company's new Head of Africa.

Facebook is already an important part of how people and business connect in Africa. This office will support the significant growth in businesses and people using Facebook -- Facebook’s active user population in Africa has grown 20% to 120 million in June 2015 from 100 million in September 2014. More than 80% of these people access Facebook from their mobile phones.

“We are inspired by the incredible ways people and businesses in Africa use Facebook to connect. This momentum in Africa comes on top of strong advertiser partnerships and excellent adoption of our products across all regions. In Q1 2015, 52% of our total ad revenue came from outside the US and Canada. But we’re just getting started,” says Nicola Mendelsohn, VP, EMEA, Facebook.

GREECE WILL DEFAULT

According to a report from The Wall Street Journal on Monday afternoon, Greece will not pay the €1.55 billion (about $1.73 billion) due to the International Monetary Fund on Tuesday.

The Wall Street Journal is citing a Greek government official.

This is, however, an expected move given the turn things took over the weekend.

Earlier on Monday, Business Insider's Lianna Brinded reported that markets were preparing for a Greek default, with analysts at Barclays writing "it is almost certain the Greek government will be unable to make the 30 June IMF Payment."

(As the FT and others have noted, the missed payment to the IMF is not technically considered a default but instead makes Greece "in arrears" to the IMF, but this is legalese. It is a missed debt payment.)

Talks between Greece and its creditors broke down over the weekend, and Greek Prime Minister Alexis Tsipras called a referendum on the issue scheduled for next Sunday.

PUBLIC TRANSPORTATION IS FREE IN ATHENS THIS WEEK BECAUSE ITS SO HARD TO GET CASH

Dimitrios Zaroulas commutes to work in a tram
in an Athens suburb.
As the Greek bailout crisis worsens, the government just announced that public transportation in Athens will be free this week, the UK paper the Times reports.

Greece's banks have shut, possibly for the full week, and it's increasingly difficult for the Greek population to get cash.

Greece's transportation minister, Christos Spirtzis, has announced that buses, trams, trolley-buses, and the Athens metro will not require fares until next week. The Times reports that fares are usually about €1.20 ($1.33), and the decision will cost the government about €4 million ($4.44 million) this week.

The decision only covers greater Athens, where about 40% of Greece's population lives. The government cannot waive fares in its next-largest city, Thessaloniki, because its transportation system is not fully run by the government, according to the Times.

Business Insider

UK BANKS LOSE GROUND TO GLOBAL RIVALS

Britain’s scandal-hit banks are losing their position in world markets, with all but two tumbling down global rankings as Chinese rivals surge ahead.

HSBC, the UK’s only player inside the world’s top 10, slumped from fifth to ninth position, according to an annual ranking of the world’s top 1,000 banks by The Banker. The bank has faced a torrid year marked by a tax evasion scandal at its Swiss banking arm exposed by the Guardian and other publications.

In 2008, HSBC led the rankings, which are based on capital strength.

Royal Bank of Scotland (RBS) has fallen even further down world rankings. The world’s third largest bank in 2008, the Edinburgh-based bank slipped from 15th to 18th position this year. Barclays slid from 12th to 13th place as, like RBS, it restructured and slimmed down in the wake of the financial crisis.

Brian Caplen, editor of The Banker, said: “At one time several UK banks were among a handful of truly global players. But since the financial crisis they have reduced their scope and are focusing on a fewer areas in a bid to restore profitability. We may have seen the end of the UK-based global bank.”

The Banker global rankings.
The Banker global rankings. Source: /The Banker Photograph: The Banker

ANTI-AUSTERITY PROTESTS IN GREECE AS BANK SHUTDOWN BITES

A protester holds a banner in Greek colors in front of the parliament building during an anti-austerity rally in Athens, Greece, June 29, 2015.
Tens of thousands of Greeks rallied on Monday to back their leftwing government's rejection of a tough international bailout after a clash with foreign lenders pushed Greece close to financial chaos and forced a shutdown of its banking system.

With a popular referendum on the bailout planned for Sunday, Prime Minister Alexis Tsipras put his own position on the line, saying he would respect the result of the vote but would not lead a government to administer "austerity in perpetuity."

"If the Greek people want to have a humiliated prime minister, there are a lot of them out there. It won't be me," he said in an interview on Greek state television as one of the biggest rallies seen in Athens in years was taking place.

The show of defiance came at the end of a day that started with stunned Greeks waking up to face shuttered banks, long supermarket lines and overwhelming uncertainty over Greece's future in the euro zone.

'BREXIT' WOULD BE DISASTER FOR UK FINANCIAL SECTOR - INDUSTRY GROUP

The British Union flag and European Union flag are seen hanging outside Europe House in central London June 9, 2015.
A British exit from the European Union would be disastrous for the UK financial industry and could prompt companies to leave the country, the sector's main lobby group said on Tuesday.

TheCityUK also said the British government should hold the referendum on whether to leave the bloc next year, rather than wait until 2017, so companies who are drawing up contingency plans could make investment decisions as early as possible.

The group represents Britain's financial industry, widely known as "the City". Its warning about a possible British exit from the EU is one of the strongest yet from a sector which accounts for 12 percent of the national economy.

GOLDMAN SACHS EYES TILT TO EU IF UK BACKS 'BREXIT' - PAPER

A man leaves a taxi outside the Goldman Sachs offices in central London October 15, 2009.
Goldman Sachs (GS.N) would shift resources towards locations in continental Europe and away from Britain should the country's voters choose to end the country's membership of the EU, a senior executive told the Frankfurter Allgemeine Sonntagszeitung.

"We would not completely leave Britain but we would certainly strengthen our presence in other locations within the EU," Richard Gnodde, co-chief executive officer of Goldman Sachs International and co-head of the Investment Banking Division was quoted as saying in an interview.

British Prime Minister David Cameron, who won an unexpectedly decisive victory in a general election last month, has promised to renegotiate Britain's membership of the EU and hold a referendum on membership by the end of 2017.

Sunday, 28 June 2015

SERENGETI NATIONAL PARK VOTED AFRICA'S BEST SAFARI PARK BY INDUSTRY EXPERTS AND SAFARI-GOERS


SafariBookings.com has published the definitive list of Africa’s best safari parks. The in-depth study analyzed more than 3,000 reviews from safari tourists and industry experts alike. After careful consideration, Serengeti National Park in Tanzania was rated the best safari park of Africa.

In total 3,008 reviews were collected via the SafariBookings website. The 2,234 user reviews were contributed by safari tourists from 63 countries. To complement these user reviews, reputable guidebook authors (working for Lonely Planet, Rough Guides, Frommer’s, Bradt and Footprint) teamed up in the SafariBookings Expert Panel and wrote another 774 expert reviews.

The analysis of these reviews resulted in the list of Africa’s top 50 safari parks. With an average rating of 4.89 out of 5, Serengeti came out first and was crowned Africa’s Best Safari Park.

It is important to note that the reviewers who have been on multiple safaris rated the Serengeti 16% higher than any other park. The guidebook authors from the Expert Panel also rated the Serengeti highest. These veterans tend to be more critical in their reviews because they can compare the Serengeti to a host of parks they’ve visited in various countries. Regardless, the Serengeti came out on top, justifying its first place all the more.


FINALLY, EA REGION IS OFFICIALLY A COMMON MARKET

Kenya, Uganda and Tanzania currencies. The Common
Market Protocol paves the way for exchange of labour
and services among the EAC partners.
The East African Community will formally become a Common Market on July 1 despite the aspirations of free movement of goods, services and labour being far from being achieved.

The Common Market Protocol, ratified in 2010, had a five-year transition period, which the business community says focused more on regulatory reforms as non-tariff barriers and national considerations that are frustrating efforts that would bring home the benefits of integration to the citizens of the five member states.

East African Business Council chairman Denis Karera said administrative barriers across the region have held back progress on the exchange of services and labour.

“Very little has been achieved since the protocol came into effect five years ago. The bigger challenge is that not all the partner states are committed to fully implementing it,” said Mr Karera.

WHO'S THE BEST CEO IN BANKING? HINT: IT'S NOT JAMIE DIMON


Bankers aren’t a modest bunch. To help them determine who really has bragging rights as the industry’s top dog, we crunched the numbers. (Hint: It’s not Jamie Dimon.)

To start, we narrowed the field to the leaders of the 16 biggest¹ global banks. Because this is a test of managerial prowess, we excluded firms owned or controlled by governments and those whose CEOs have been in charge less than three years. Then we plugged their names into everybody’s favorite equalizer: a tournament bracket.

In the first round, the CEOs competed on the most-watched measure of profitability: return on equity.

Friday, 26 June 2015

INFORMAL SECTOR NEXT TARGET IN UGANDA TAX DRIVE

New policy measures aimed at collecting more taxes from Uganda’s informal sector could steer the country closer to the targeted 16 per cent tax-to-GDP ratio by the end of 2018.

Under the new tax mobilisation initiatives, a person seeking a licence or any form of authorisation from a statutory authority, local government or regulatory body is required to produce a Tax Identification Number (Tin) . Through this measure, many small enterprises are bound to be absorbed into the revenue base.

The introduction of a broader but higher threshold for presumptive tax — an income tax assessment tool applied to taxpayers who lack comprehensive financial records — is anticipated to generate substantial revenues from large informal businesses and small enterprises such as retail shops, workshops, restaurants and motor vehicle garages.

This threshold was raised from Ush50 million ($15,411) to Ush150 million ($46,233) effective July 1, an adjustment inspired by the growth registered by informal enterprises.

TANZANIA, MOZAMBIQUE TO PRODUCE GRAPHITE

Tanzania and Mozambique are seeking to become graphite producers to meet the growing global demand for the commodity.

Private firms from both countries are either exploring licensed tenements to quantify resources or moving projects with vast deposits to pre-production stage.

Consulting firm Stormcrow Capital Ltd said the graphite market can handle at least 300,000 tonnes of new production by 2020. A tonne of high quality graphite is predicted to cost $6,175 in five years.

Dominant player

China has dominated global output, producing about 70 per cent of the world’s graphite, but this is expected to decrease as the country curtails production due to environmental concerns.

Demand is being driven by increased use of graphite in the making of lithium-ion batteries, lubricants, steel, iron and brake linings among other items. Lithium-ion batteries are preferred for use in electric vehicles.

CHINA SOUTHERN'S NEW NAIROBI - GUANGZHOU ROUTE UNLIKELY TO HURT KENYA AIRWAYS

China Southern Airlines, which begins commercial operations on the Nairobi-Guangzhou route on August 5, will become the second airline after Kenya Airways to offer direct flights to the Chinese mainland from the Kenyan capital.

Uganda and Tanzania will, however, be the Chinese carrier’s focus for passengers on the three flights a week schedule, with Kigali and Bujumbura playing a peripheral role because of the small number of travellers from these countries.

The additional capacity of 654 seats a week is more likely to affect gulf carriers Emirates and Qatar, whose one-way trip to Guangzhou out of Uganda takes more than 24 hours.

But while the flights add capacity and choice to the route, this is likely to have minimal impact on fares because the Chinese major will be depending on Kenya Airways for onward links to Entebbe and Dar es Salaam.

Both Kenya Airways and China Southern are members of the SkyTeam alliance, which limits the scope of competition against each other.

Thursday, 25 June 2015

BRITAIN JUST GAVE THE GREEN LIGHT TO A BANK WITH NO BRANCHES AND NO WEBSITE — JUST AN APP

Atom Bank CEO Mark Mullen.
Atom Bank, a mobile-first challenger bank, just won a banking licence to operate in the UK and plans to launch later this year.

Unlike traditional banks — and even some challengers — Atom Bank won't have any branches or even a website initially, operating purely though a mobile app.

Customers will be able to open accounts and carry out all their banking activity just from their smartphone. The 1-year-old startup said it wants to "set new standards for the banking sector" when it comes to technology. The company plans to use 3D visualisations and gaming technology for its app, and plans to integrate cutting edge biometric security.

CEO Mark Mullen says: "We’ve set about designing a banking app that’s in tune with how people think about their money. Taking an app-based approach allows us to use all the features of your mobile device to provide a slick and highly personalised experience. It will offer total control and transparency with a depth that is beyond anything else on offer in the market today."

Wednesday, 24 June 2015

BOB DIAMOND HAS A RIVAL AS CORTINA EYES AFRICA BANK DEALS

Spanish billionaire Alberto Cortina.
Ex-Barclays Plc Chief Executive Officer Robert Diamond has a rival: Spanish billionaire Alberto Cortina, who is building a banking presence in West Africa to take advantage of demand from sovereign and corporate clients.

Cortina is conducting due diligence on a retail bank in Senegal after his Banque de Dakar investment bank started operations in the West African nation this month, he said in an interview in Madrid. He’s also planning to set up an investment banking unit in Ivory Coast to the East by the end of the year.

Africa is attracting investor interest as growth outstrips that of many developed countries. Diamond and Ugandan entrepreneur Ashish Thakkar set up Atlas Mara Ltd. to acquire African financial service companies and is in talks to invest in Banque Populaire du Rwanda. David Bonderman’s TPG Capital is also looking at deals, and said last week it partnered with billionaire philanthropist Mo Ibrahim’s Satya Capital to invest in African healthcare, consumer and financial services.

“We want to create a financial institution for Africa,” Cortina said. “Senegal has a history of political stability.”

'BUSINESS AS USUAL' FOR CITY BANKS IF UK LEFT THE EUROPEAN UNION

Brexit could damage the status of the City of London.
The City of London has “nothing to fear” from life outside the European Union and international banks would have no reason to leave Britain, a report has found.

The report, written by senior business figures and published by the Business for Britain campaign group, challenged claims that leaving the EU would be harmful to the UK’s large financial services sector.

“Britain and its financial services industry have nothing to fear from separating from the EU’s institutions,” it concludes.

• Grand bargain emerging on Europe
• How Europe is planning to deal with a Brexit


The Telegraph is this week publishing extracts from the 1,000-page document. The editorial board that produced the report was chaired by Jon Moynihan, the former executive chairman at PA Consulting Group. Other members include Andrew Allum of LEK Consulting, Luke Johnson, a leading venture capitalist, and Helena Morrissey, one of the City’s most prominent fund managers.

It comes as David Cameron prepares for an EU summit in Brussels where he will start formal negotiations for changes in Britain's EU membership terms. The Prime Minister will put his new deal to the British electorate in a referendum by the end of 2017.

WILLIE LATEGAN TO LEAVE BARCLAYS AFRICA AFTER 20 YEARS WITH THE GROUP

Willie Lategan.
JOHANNESBURG – Willie Lategan, chief executive of wealth, investment management and insurance (WIMI) at Barclays Africa will leave the group at the end of September after 20 years of service, the banking firm said on Tuesday.

“This step follows very careful consideration of my personal and professional goals,” Lategan said in a statement. “I have enjoyed working at Absa and Barclays Africa and will always treasure the many good memories from my years in the organisation,” he said.

Lategan joined Absa as an actuary in 1995, serving in managerial positions in Absa Life and Financial Services. He was appointed to the executive committee in 2007.

“The Executive Committee of Barclays Africa Group and I would like to thank Willie for the significant contribution that he has made to the Group as a member of our Exco and for his relentless commitment to transforming WIMI into the solid franchise that it is today,” said Barclays Africa group chief executive, Maria Ramos. “Willie has played a key role in leading the Pan African expansion of WIMI and his loyalty and leadership will be sorely missed,” Ramos said.

TANESCO TO RECEIVE US$ 38M TO IMPROVE POWER SUPPLY

The Tanzania Electricity Supply Company (TANESCO) which is Tanzania’s main electricity generating company has been given US$ 38m by the Japan International Cooperation Agency (JICA) to help in improving power generation in the country.

The funds will be used in the installation of two new transformers, construction of new control buildings and setting up of associated indoor equipment. It will also help in the building of new sub-stations, expansion of existing sub-stations and the construction of new interconnections to boost Tanzania electricity generation.

The Commissioner of Minerals, Mr. Paul Masanja confirmed the reports and said that the project will enhance reliability and quality in the supply of power in Tanzania, also the number of people accessing power will go up resulting to economic growth and poverty reduction in the region.

Business in Tanzania has negatively been affected for long now due to unreliable power supply and that is why this project is really exciting and promising to the residents.

US$ 16M CAMP OPENS UP IN MAASAI MARA NATIONAL RESERVE


The Maasai Mara National Reserve which is a large game reserve in Narok County, Kenya commonly known for its wild beast migration is home to a newly opened US$ 16m luxury camp.

The luxury camp in Maasai Mara which is christened as Angama Mara has just been opened and is projected to benefit highly from the tourism industry in Kenya targeting the tourists who visit the country mostly during the wild beast migration.

According to reports, the Masai Mara saw an increase in the number of visitors last year to 166,000 up from 103,800 in 2013, a positive indicator for camp and hotel owners at a time when tourist numbers have been falling.

FIGHTING HIV AND AIDS IN TANZANIA - FUNDRAISING FOR A GREATER CAUSE

Mr. Tenga Tenga, PR and Communication Manager, Geita Gold Mine (GGM) (right) joined by Ms. Fatma Fernandes, Managing Director, Abel & Fernandes Communications (left) at the Kili Challenge Aution in Geita during the fundraising for GGM Kili Challenge against HIV and AIDS in Tanzania.
GGM employees showing support at GGM Kili Challenge Auction in Geita for the fundraising against HIV and AIDS in Tanzania.
Attendees from various public and private sectors in support of GGM Kili Challenge Auction in Geita for the fundraising against HIV and AIDS in Tanzania.
More attendees from various public and private sectors in support of GGM Kili Challenge Auction in Geita for the fundraising against HIV and AIDS in Tanzania.
The ambassador of GGM Kili Challenge, Lady Jay Dee was also present during the GGM Kili Challenge Auction in Geita for the fundraising against HIV and AIDS in Tanzania.
Mr. Terry Mulpeter, Managing Director, Geita Gold Mine (GGM) adorned in African attire representing and showing support during the GGM Kili Challenge Auction in Geita for the fundraising against HIV and AIDS in Tanzania.
Attendees from various public and private sector in support of GGM Kili Challenge Auction in Geita for the fundraising against HIV and AIDS in Tanzania.

CLYDE & CO TANZANIA UPDATER - PETROLEUM ACT BILL SUPPLEMENT 2015

Tuesday, 23 June 2015

AfDB, IMF EAST AFRITAC AND WORLD BANK WORKING TOGETHER WITH EAST AFRICAN COMMUNITY TO SUPPORT EFFORTS TO PRODUCE BETTER PUBLIC DEBT STATISTICS



As part of the African Development Bank’s ongoing efforts at improving data quality, management and dissemination support to statistical development in Africa, the AfDB took part in a joint workshop on public sector debt statistics, with the World Bank and the IMF East AFRITAC (AFE) in Zanzibar during June 8-19, 2015 with 30 officials from seven East African countries.

Addressing a strong demand for debt data improvements in the region, the workshop assisted the EAC Partner States to meet the fiscal and debt data requirements associated with the East African Community Monetary Union (EAMU) protocol. The workshop focused on compilation, dissemination and harmonization of public sector debt statistics in East Africa. The first week of the workshop comprised training in the IMF debt statistics methodology, followed by hands-on training on the open data platform provided by AfDB experts.