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Thursday, 31 March 2016

ETIHAD ENHANCES MAINTENANCE EFFICIENCY AND SAFETY WITH AUTOMATED TOOL CONTROL SYSTEM

An aircraft engineer accessing the new Automated Tool System in front of an Etihad Airways’ A330 aircraft undergoing routine maintenance.   
Standing alongside the new Automated Tool boxes in the hangar are (left to right) Isam Fares, Manager GSE, Tooling and Stores, Michael Adams, VP MRO Services, and Reinhard Luksch, Head of Logistics and Operations at Etihad Airways Engineering.   
Etihad Airways Engineering has enhanced its aircraft maintenance capability with a new Automated Tool Control (ATC) system which provides engineers with greater tool access, handling and traceability, and eliminates the risk of tools being lost in critical aircraft systems during maintenance.

Connected by Wi-Fi to a central server, and capable of providing an audit trail of the last 15,000 transactions, the automated system tracks the tools that are selected and is immediately able to identify any broken, lost or unreturned tools.

The toolbox can’t be opened until the engineers scan their badge against the reader mounted on the front of the box. The badge identifies the engineer as an authorised user and the box unlocks. Using the built-in touchscreen, the engineer confirms their job task (work order / task number) and job location.

The new system was successful trialled at Abu Dhabi International Airport in November 2015, and was rolled out across all Etihad Airways Engineering maintenance bays in January.

JAPAN, TANZANIA SEAL 117BN/ DEAL

The Permanent Secretary in the Ministry of Finance and Planning, Dr. Servacius Likwelile, exchanges documents with the Ambassador of Japan to Tanzania, Mr. Masaharu  Yoshida, for the disbursement of 116.4 billion in Dar es Salaam. 
Tanzania and Japan signed the Exchange of Notes (agreements) for a loan to support the co-financing for the “Business Environment for Jobs Development Policy Operation (DPO)’’ worth 6 billion Japanese Yen (116.4bn/-).

The Permanent Secretary (PS) in the Ministry of Finance and Planning, Dr Servacius Likwelile, said at the signing ceremony in Dar es Salaam that funds are aimed at supporting implementation of the government’s programme of increasing job creation for the private sector.

This is deemed possible by reducing the overall cost of doing business and creating an enabling environment for selected labour-intensive industries.

Dr Likwelile pointed out that the programme would support the three pillars, particularly in making the regulatory environment more business friendly, improving the functioning of factor markets for labour, land and capital and establishing enabling environment for competitive, job creating industries in particular for agribusiness and tourism.

TANZANIA SAYS "NOT SURPRISED" BY US AID CUT

Tanzanian president John Magufuli. Finance Minister Philip Mpango says that the government had anticipated the move and was prepared with alternative funding.
The Tanzanian government has said the decision by American agency Millennium Challenge Corporation (MCC) to cancel $472 million (about Tsh1 trillion) in funding to the country did not come as a surprise.

Finance Minister Philip Mpango told The Citizen yesterday that the government had anticipated the move and was prepared with alternative funding.

The MCC funding was meant to implement various development projects in energy, road and water sectors.

The MCC board of directors which sat in Washington on Monday voted to suspend the agency’s partnership with the government of Tanzania over the Zanzibar election and application of the Cybercrimes Act run counter to this commitment.

Dr Mpango said the State is currently focussed on sourcing funding for its projects from domestic sources.

Wednesday, 30 March 2016

CLYDE & CO FINANCE UPDATER - FOREIGN LOANS AND THE PROCESS OF OBTAINING A DEBT RECORD NUMBER FROM BANK OF TANZANIA

AFRICA'S YOUNGEST BILLIONAIRE WANTS TO TAKE ON COKE WITH 'MO COLA'


Mohammed Dewji has ambitious plans to take on big brands in Africa.

Top of his list of targets: Coca-Cola (KO), Red Bull and Fanta.

"We're taking on Coca Cola with our own brand called Mo Cola. We're fighting Red Bull with Mo Energy Drink, and like they have Fanta - we have our own brands," the CEO of MeTL Group told CNNMoney.

Coca-Cola has been in Africa for 88 years and is everywhere. But the 40-year old is undaunted.

Dewji's brand of the fizzy drink has taken 3.5% of his home market in Tanzania since launching two years ago.

"If I take it to 15% I will be in the money big time," he says.

Dewji isn't new to big challenges. He took his father's $30 million business and grew it to a pan-African conglomerate with revenues of $1.5 billion in 10 years.

The company group now spans 31 industries in 11 countries, including businesses in agriculture, manufacturing, consumer goods, finance, mobile telephony, real estate, oil and logistics.

ETIHAD AIRWAYS ATTRACTS RECORD PARTICIPATION AT “WALK FOR A CAUSE” EVENT

Etihad Airways' cabin crew with children at Al Mushrif Park.   
Etihad Airways' cabin crew with the crowd.   
Etihad Airways’ family with His Highness Sheikh Thiyab Bin Khalifa Bin Hamdan Al Nahyan.    
Etihad Airways’ flying nannies with happy children at Al Mushrif Park.   
Under the patronage of Her Highness Sheikha Shamsa bint Hamdan Bin Mohamed Al Nahyan, Honorary Chairperson of the Abu Dhabi Centre for Autism, Etihad Airways has hosted its fourth annual fundraising event ‘Walk for a Cause’.

More than 5,200 participants of all ages gathered at Al Mushrif Central Park in Abu Dhabi on Friday 18 March to take part in the event’s 30 minute walkathon.

All funds raised at the event will go towards the building a new rehabilitation centre in Abu Dhabi for the Emirates Autism Society, and the refurbishment of a school in India.

AfDB PRESIDENT ROUNDS UP ASIAN TOUR IN BEIJING WITH FIRM COMMITMENTS FOR SUPPORT


The President of the African Development Bank Group, Akinwumi Adesina, departed Beijing on Tuesday night at the end of a three-nation Asian tour, which took him and his delegation to Japan (March 24-26), Korea (March 26-28) and China (March 28-29).

These visits have focused on consultation with influential public and private entities in these three important non-regional members of the Bank Group on the Bank’s mission and future development programmes.

Being his first visit to these countries since he assumed office as the 8th elected President of the Group on September 1, 2015, Adesina used the opportunity to thank the governments for their support to the Bank. He also highlighted the areas where investment of public and private financing would result in win-win situations for both the Bank and its partners while accelerating Africa’s development.

EXIM BANK CUSTOMERS GUARANTEED WITH 4 HOURS TAT ON REMITTANCE TRANSACTIONS

Exim Bank Tanzania has guaranteed its customers with completion of remittance transactions within 4 hours instead of the previous duration of 12 hours delivery as part of the bank’s continuous service improvement.

"At Exim Bank, we always strive to offer smarter, faster and more secure ways to connect our customers to opportunities around the world. We now offer 4 hours same-day Remit service, customers are also assured that in case of breach of the timelines, service charges incurred for the particular remittance transaction would be refunded." Said Mr Tumaini Mwakafwaga, the bank’s Group-Head, centralized operations in Dar es Salaam yesterday.

Mr. Mwakafwaga however noted that the guarantee for the turnaround time (TAT) will apply only to applications which are compliant in terms of Clear Application Form (no ambiguities), supporting documents, and sufficient balance in their accounts.

According to Mr Mwakafwaga, for the past 1 month the TAT remittances have been meeting the 4 hrs with a breach of 2% on average, as promised to customers before. He added: “From the middle of this month our customers have constantly been notified in person concerning these changes through various means such as SMS and email.’’

Monday, 21 March 2016

ETIHAD AIRWAYS’ PRESIDENT AND CEO ADDRESSES GLOBAL CARGO CONFERENCE IN ABU DHABI

Etihad Airways’ President and CEO, James Hogan.
Etihad Airways’ President and Chief Executive Officer James Hogan gave the opening address to more than 1,200 delegates attending the World Cargo Alliance (WCA) Conference taking place at the Abu Dhabi National Exhibition Centre between March 10 and 13.

Mr Hogan spoke in depth about changes in the global cargo industry and how the Etihad Airways Partner alliance increases the airline’s strength and depth in cargo operations . By combining aircraft fleets and networks, Etihad Cargo is recognised as the fifth largest cargo operator in the world by working in close harmony with Jet Airways Cargo, airberlin Cargo, Air Serbia, Alitalia and Air Seychelles Cargo.

The Etihad Cargo division of Etihad Airways generates over US $1 billion in annual revenues and is one of the world’s most successful air cargo operations. It accounted for 88 per cent of cargo imports, exports and transfers at Abu Dhabi International Airport in 2015, a year in which it carried 592,090 tonnes of freight and mail, up four per cent on 2014.

Etihad Cargo currently operates a freighter fleet of four Boeing 777F, three Boeing 747s, and four Airbus A330s. An additional Boeing 777 freighter is due to arrive this month with a further Airbus A330 freighter scheduled to arrive in 2017.

Mr Hogan spoke about how the Middle East region continues to outperform global growth rates for cargo and plays an increasingly important role in the flow of world trade and goods, with its geographical importance enhanced as traffic shifts from traditional and established markets to emerging commercial centres in the Middle East, Asia, South America and Africa.

He said: “Our hub of, Abu Dhabi is at the crossroads of the world, and as a combination carrier, Etihad Airways is perfectly positioned to capitalise on the growing passenger traffic, and the increasing volumes of cargo and goods transported between expanding and emerging markets.”

FASTJET, NMB SIGN DEAL TO EASE FLIGHT TICKET PAYMENTS

National Microfinance Bank (NMB) Chief Executive Officer, Ineke Bussemaker (centre), exchanges a Memorandum of Understanding with fastjet General Manager, John Corse, after entering a business agreement with the bank. On the left is Acting Chief Retail Banking, Abdulmajid Nsekela. The event was held in Dar es Salaam over the weekend.
Tanzania's low-cost airline, Fastjet has signed a partnership agreement with the National Microfinance Bank (NMB) to enable bank customers and non-customers purchase their air tickets through bank branches and Mobile facilities.

Fastjet tickets are expected to be booked online or through sales shops but paid through NMB Mobile or at any NMB Branch countrywide. NMB has over 170 branches countrywide with over one million NMB Mobile users and with overall customer base of over 2 million customers.

Fastjet General Manager Mr John Course said Fastjet customers will from today enjoy the convenience of booking tickets online, via the call centre and at the sales shops and thereafter pay conveniently through NMB Mobile or at any NMB branches present countrywide.

“The fact that our customers will now be able to purchase for their tickets through NMB Mobile and NMB branches is yet another milestone that underscores our commitment to ensuring that Fastjet lives up to its promise of being an affordable airline that makes travel easy for its customers,” he said.

FOREIGN CURRENCY EXCHANGE RATES, COURTESY OF NMB


Thursday, 17 March 2016

TANZANIA MORTGAGE MARKET UPDATE AS AT 31 DEC. 2015

TIGO TANZANIA LAUNCHES INNOVATIVE NANO LENDING SCHEME FOR ITS CUSTOMERS


Tigo Nivushe poised to foster financial inclusion


DAR ES SALAAM, Tanzania, March 17, 2016
/ -- Leading digital lifestyle company, Tigo (www.Tigo.co.tz), announced today that it will launch an easy to access nano lending product to its stable of mobile financial services. This new product will not require collateral and offers immediate access to small loans to Tigo Pesa users.

Tigo Head of Mobile Financial Services, Ruan Sawnepoel, said in a statement to the press today that for the first time the nano loans product, called Tigo Nivushe will allow Tigo Pesa customers to build their own credit history and being open to any Tigo Pesa customer turns the typical lending models upside down. No security is required or taken and the loan product has been designed to be transparent and foster responsible lending.

Explaining the product’s flexibility, Swanepoel said Tigo Nivushe offers different lending periods with variable administrative costs based on the length of tenure. The loans – with an average of Tsh 10,000 (US$ 5) – are processed in real-time and funds transferred within minutes. As customers build up their credit history they are able to borrow higher amounts with lower administration fees. Loans are delivered directly to the mobile wallet so customers can immediately use the funds to pay bills, transfer to others, or cash out at the thousands of agents across the country, he noted.

NEW FREIGHTER ARRIVES IN ABU DHABI TO JOIN ETIHAD CARGO FLEET


Etihad Cargo has taken delivery of a new Boeing 777 freighter which will enable the freight arm of Etihad Airways to continue its expansion plans into 2016. The aircraft becomes the 11th freighter in the fleet and has already entered commercial service since 01st March 2016.

Etihad Cargo announced it would take delivery of the two additional aircraft at the Dubai Air Show last year, and they form part of the US$67 billion fleet order that was made in 2013 for 199 aircraft. The two additional freighter aircraft are valued at US$637 million at list prices and the second freighter is expected to arrive in Abu Dhabi in March.

Both new aircraft will come equipped with nine seats allowing Etihad Cargo to carry additional grooms as part of its Sky Stables programme, which supports high value equine movement. They will be the first aircraft in the Etihad Cargo fleet to be equipped in this way. Sky Stables is supervised by dedicated managers, supported by handling teams both in the air and on the ground, with horses currently being moved to destinations in Europe, Asia, Africa, Australia and the Americas.

Wednesday, 9 March 2016

NBC LAUNCHES THE THIRD PRIVATE BANKING SUITE / CENTRE IN MWANZA

Tanzania Revenue Authority (TRA) Mwanza Regional Manager, Elinser​ Nyange (centre) cuts a ribbon to officiate at the NBC Mwanza branch private banking suite launching ceremony in Mwanza recently. Left is the NBC Mwanza Branch Manager, Godhard Hunja and NBC Head of Affluent ​Banking​, Ashura Waziri. This is the third suite after Sea Cliff and Corporate branches all ​located in Dar es Salaam.
NBC, one the three largest commercial banks in Tanzania, has officially opened a new Private Banking suite in Mwanza with the aim of providing world class service to its high net worth customers.

The opening of the Mwanza Private Banking suite is the third suite after Sea Cliff and Corporate branches, all located in Dar es Salaam.

"The opening of the Private Banking suite in Mwanza reaffirms NBC’s commitment to provide world class service to our top end clients in the second largest city in Tanzania. As we know that Mwanza is a growing metropolitan city with a host of economic activities with a growing business community, and therefore this investment is truly justified” said Godhard Hunja, NBC Mwanza branch manager during the short opening ceremony.

NBC Private Banking is an exclusive well-designed banking service which provides NBC customers with access to a range of products tailored to suite customer’s unique needs in the Tanzania’s second most populated region. Some of products are; Personal Accounts, Savings Accounts, Fixed Deposits, Affluent Current Accounts, Foreign Currency Accounts, Cash Backed Overdrafts , Embedded Insurance Benefits and Vehicle Insurance.

FASTJET ANNOUNCES FLIGHTS LINKING VICTORIA FALLS AND JOHANNESBURG

Johannesburg, 8 March 2016 - fastjet, the low-cost pan-African airline, has announced that it will commence flights to Victoria Falls from Johannesburg on 25 March 2016 in response to strong passenger and tour operator demand from within the South African market.

Services between Johannesburg’s O.R. Tambo International Airport and Victoria Falls International Airport will operate using fastjet’s modern Airbus A319 jet aircraft with seating for up to 156 passengers.

Initially operating twice a week on Fridays and Sundays, fastjet’s flights will depart Victoria Falls at 12h40 and land in Johannesburg at 14h15, with a flight time of 1 hour 35 minutes. The return flight from Johannesburg departs at 14h55 and lands in Victoria Falls at 16h35.

Tickets for the Victoria Falls flights from Johannesburg are on sale immediately, with fastjet advising passengers to book early to take advantage of its lowest priced fares of R1,939 one-way, which includes all government and airport taxes.

To promote its newest international route, fastjet will provide a discount of R510 for any tickets booked before 25 March for travel from 25 March to 30 October 2016. To earn this discount customers will need to use the promo code JET30.

EXIM BANK NOW IN UGANDA

Exim Bank Tanzania Chief Financial Officer Mr Selemani Ponda (centre), stresses a point as he was addressing the press conference in Dar es Salaam recently. The bank announced having established its footprints now in Uganda, East Africa. Others are the bank's Marketing Manager Mr Abdulrahman Nkondo (left) and the bank's Senior Customer Service Manager, Mr Frank Matoro.
In yet another strategic smart move, Exim Bank Tanzania Limited (“Exim Bank”) announced having established its footprints now in Uganda, East Africa. The 1st Tanzanian Bank to be making a presence in Uganda. The bank having carried out a rigorous due diligence, acquired a majority stake in the erstwhile Imperial Bank Uganda Ltd.

The acquisition process was completed under purview and supervision of Bank of Uganda. Exim Bank holds 58.60% stake in the newly formed entity viz. ‘Exim Bank Uganda Ltd.’, while ‘Amazal Holdings’, the prestigious ‘Mukwano Group’ having diversified business interests within and outside Uganda, will hold 36.5 % share and the rest 4.9 % by Export Finance Ltd.

“I am happy and excited to announce that Exim Bank has established its foot prints in Uganda in partnership with one of the most eminent and largest business groups in the Country.” Said Mr Selemani Ponda, the Bank’s Chief Financial Officer as he was addressing the press conference in Dar es Salaam yesterday.

Sunday, 6 March 2016

GENERAL ELECTRIC'S CHAIRMAN HOLDS TALKS WITH AfDB FIRST VICE-PRESIDENT ON PARTNERSHIP OPPORTUNITIES IN THE REGION


The Global Chairman and CEO of General Electric (GE), Jeff Immelt, and the GE leadership team held a working session with senior African Development Bank leadership led by its Acting First Vice-President, Charles Boamah on Wednesday, March 2 in Abidjan.

Both parties discussed mutually beneficial opportunities that will broaden and deepen existing relationships. The GE Chairman said, “GE’s relationship with the African Development Bank is key for our strategy on the African continent. As you know Africa is one of the most promising growth regions for our business.”

Commenting on the outcome of the working session, Boamah commended the President of General Electric for the company’s significant and increasing investments in key sectors in African such as healthcare, infrastructure, energy, oil and gas. Private sector players like General Electric can play a critical role in bridging Africa’s infrastructure gap. “Africa’s development financing needs are huge and meeting them requires strategic partnerships with the private sector,” he said.

BRITISH DENTAL SECTOR COMPANIES VISIT TANZANIA TO SEE THE WORK OF A CHARITY BASED IN MWANZA


A group of industry leaders from the UK visited Tanzania at the end of February to see the work of Bridge2Aid.

The charity, based in Mwanza, works with volunteer dentists and dental nurses from the UK who teach emergency dental skills to rural Clinical Officers in Tanzania. Working within the national healthcare system, and with the support of the government, Bridge2Aid has now been working in Tanzania for over 10 years. Their strategy is to put skills into the hands of local health professionals so that dental pain relief is available to local communities for many years to come.

The delegates included directors from some of the UK’s largest dental companies (including Henry Schein, Quadralene, Oasis Dental Care, FMC & Straumann). All are supporters of the work of Bridge2Aid. During their trip they were accompanied by Bridge2Aid’s Patron, Professor David Homeli Mwakyusa, former Minister of Health. Their programme included visits to a rural clinic where Bridge2Aid are training, a meeting with government officials and a trip to Bridge2Aid’s social enterprise Hope Dental Centre in Mwanza. These visits aimed to help delegates appreciate the work of Bridge2Aid first hand, and to see how the people of Tanzania are benefiting.

THANDA ISLAND: A $10,000-A-NIGHT INDIAN OCEAN PARADISE IN TANZANIA


Opening in April 2016, Thanda Island is so remote and so well-assembled that it’s practically its own vacation nation. It is, first, an Indian Ocean island off the coast of Tanzania, about a forty-minute helicopter flight southeast of Dar es Salaam. At low tide it measures about twenty acres of forest and beach, and further insulates its guests in a cocoon of privacy by being in an aquatic Tanzanian game reserve.

The Thanda Island company, whose principals are Swedish entrepreneur Dan Olofsson and managing director Pierre Delvaux, are known for having developed the award-winning Thanda Private Game Reserve in South Africa. The island is the matching super-luxe offshore retreat, bookable year-round at $10,000 per night, with a minimum stay of a week.

You get a lot of bang for those bucks. The villa, a gracious Cape Cod-meets-the-Indian-Ocean-plantation house, sleeps ten in five suites, plus children. A further eight can sleep in two traditional banda-style bungalows. And then there’s staff, which includes the chef, and the housekeeping staff, childkeeping staff, and a couple of associates to assist with boating, picnicking, jet skis, and excursions to other islands. Thanda Island works as a stationary megayacht, minus the difficulties of a yacht. The Olofsson family books into the retreat as well, which is arguably the absolute best hostelry recommendation one could hope for.

BANK OF TANZANIA NOTICE TO THE GENERAL PUBLIC


PUBLIC NOTICE

On 1st March 2016, Barclays Bank Plc., of United Kingdom announced that it intends to sell its 62.3% shares in its subsidiary, Barclays Africa Group Limited over the next two years. Barclays Africa Group Limited is one of Africa's major financial services providers and has majority stakes in a number of banks across Africa including Tanzania.

In Tanzania, Barclays Africa Group Limited holds 100% ownership of Barclays Bank Tanzania Limited and is also a majority shareholder of the National Bank of Commerce Limited, owning 55% of the bank's equity.

The intention announced by Barclays Bank Plc., will not in any way affect operations of Barclays Bank Tanzania Limited nor the National Bank of Commerce Limited, rather changes are only expected at the Group level. Both banks are well capitalized and independently funded businesses.

Therefore, the Bank of Tanzania would like to assure the general public that these two institutions will continue with normal banking operations. Bank of Tanzania will ensure that any transaction of ownership in these two institutions is conducted in an orderly manner as per the provisions of the legal and regulatory requirements so as to preserve stability and soundness of the financial system.

BANK OF TANZANIA
MARCH 2016