TANZANIA FINANCIAL SERVICES EXPO 2016

AIRTEL, PUMA ENERGY PARTNER TO LAUNCH DIGITAL PAYMENT FOR FUEL

(Left to right) Puma Energy Tanzania General Manager Phillippe Corsaletti and Airtel Tanzania Managing Director Suni Colaso display the type of cards that will be used to purchase fuel digitally at the 46 Puma filling stations in Tanzania during a press conference held in Dar es salaam recently.

Motorists filling their cars at Ouma Energy fuel stations now do not need to walk with cash to pay for a service as they can do so digitally.

This comes after the company teamed up with Airtel Tanzania in coming up with a new product dubbed 'Airtel Money Tap Tap card' which enables car owners to make digital payment for the service.

Puma Energy Tanzania Managing Director Phillipe Corsaletti, said during the launching that the card would be used at all of their 46 filling stations countrywide.

"Under this system, all customers registered in the Airtel Money service would be able to make such payments at our petrol stations instead of using cash," he said.

NEW FUEL BULK PROCUREMENT SYSTEM LAUNCHED

Petroleum Bulk Procurement Agency (PBPA) has rolled-out cargo by cargo tender system of fuel importation for November delivery that witnessed falling costs.

This is a single product tendering system where petroleum products importers bid to supply Diesel, petrol and Jet fuel and kerosine separately.

The PBPA Acting Executive Director, Mr Michael Mjinja, said in Dar es Salaam yesterday that in just the first day of the tendering system, figures put forward by bidders are down compared to the old system.

“It is very much encouraging for the country when looking at the tendering numbers put forward by importers particularly tender winners,” he said in his closing remarks after the tender committee chairman Mr Ali Ahmed declared the successful bidders of cargo by cargo.

FOREIGN CURRENCY EXCHANGE RATES, COURTESY OF NMB

WORLD BANK REAPPOINTS KIM TO FIVE-YEAR TERM AS PRESIDENT

World Bank President, Jim Yong Kim. 

The World Bank on Tuesday reappointed Jim Yong Kim to a five-year term as president of the multilateral development lender after the nomination period closed without any challengers coming forward.

Kim, an American citizen, was unanimously chosen by the bank's executive directors for a term that begins on July 1, 2017, the World Bank said in a statement.

Reuters

PROF. ANNA TIBAIJUKA DECLINES 210M/- KHALIFA AWARD

Prof. Anna Tibaijuka.

Once bitten, twice shy. The saying could well be applied to Muleba South constituency Member of Parliament, Prof Anna Tibaijuka, as she has refused to receive 100,000 US dollars (over 210m/-) as part of the Khalifa Sustainable Development Award, fearing to go against the country’s public servants ethics code.

The cash, together with a trophy, being an award from His Highness Prince Khalifa bin Salman Al Khalifa, were last week bestowed upon Prof Tibaijuka, a former UN-HABITAT boss, for her efforts to champion the Sustainable Development Goals (SDGs).

The award dubbed ‘His Royal Highness H.R.H Prince Khalifa bin Salman Al Khalifa Award for Sustainable Development,’ is given to individuals or institutions who are actively involved in actualising the Sustainable Development Goals and is meant to motivate them to commit extra efforts at national, regional and international levels to achieve the award’s noble humanitarian goals.

PRIME MINISTER OFFICIALLY MOVES TO DODOMA TODAY

Prime Minister, Mr Kassim Majaliwa.

The Prime Minister, Mr Kassim Majaliwa, will today shift to Dodoma officially as part of implementation of the government’s decision to move to the country’s capital.

In his keynote address to the CCM National Congress after he was elected the party’s National Chairman, President John Magufuli had told delegates that before the end of his first term in office, the entire government would have been moved from Dar es Salaam to Dodoma.

Dodoma Regional Commissioner (RC), Mr Jordan Rugimbana, told reporters here yesterday that the premier is expected to arrive today afternoon. “This is the implementation of the promise he (Mr Majaliwa) made during National Heroes Day on July 25,” said the RC.

Mr Rugimbana told reporters that on Saturday, Mr Majaliwa will start a two-day official tour to inspect preparations for the Dodoma Municipality to assume its status as the new capital. “He will inspect buildings to house government offices, health facilities, the Mzakwe water source and the Dodoma and Industrial Area,” he said.

NIGERIAN FIRM EYES 1.4TRN/- POWER PROJECT IN DAR ES SALAAM

Egbin Power Plc Chief Executive Officer, Mr Dallas Peavey.

A Nigerian company, Egbin Power Plc, has expressed interest to invest 630 million US Dollars (about 1.4trn/-) in construction of a natural gas fired power plant in Tanzania.

The major boost to the country’s power generation is the newest public-private partnership project expected to turn around the energy sector in the East African nation.

Speaking to Tanzanian journalists on a five-day tour of Nigeria yesterday, the firm’s Chief Executive Officer, Mr Dallas Peavey, said the construction of the plant is expected to commence anytime after the company, under Sahara Group, has inked the investment pact with the host government.

“We plan to set-up two plants, each generating 450 MW....all we are awaiting now are the government approval and Tanesco’s (Tanzania Electric Supply Company) proposal,” he stated.

GDP ON RECORD 7.9 PC GROWTH

NBS Director General, Albina Chuwa.

Gross Domestic Product grew by 7.9 per cent in the second quarter of 2016, beating by far the 5.8 per cent rate recorded in the corresponding period last year.

The National Bureau of Statistics (NBS), in its quarterly economic estimates released in Dar es Salaam yesterday, put the country’s GDP at constant prices in absolute terms for the period at 11.7trn/- compared to 10.9trn/- of last year.

NBS Director General, Albina Chuwa, told reporters that the projected annual GDP at constant prices is estimated at 47.2tri/- in 2016, up from the actual 44.1trn/- in 2015.

Besides the quarterly GDPs, the statistics body has the mandate to compile semiannual and annual GDPs, as well. According to Dr Chuwa, the annual GDP report would be released on December 30, 2016.

RWANDAIR YASHUSHA NDEGE MOJA MPYA KATI YA NNE WALIZOAGIZA

Shirika la ndege la RwandAir limepokea ndege yake mpya aina ya Airbus A330 jana nchini Rwanda yenye uwezo wa kubeba abiria 276. Ndege hiyo mpya inakuwa ndege ya kwanza kufika Kigali ikiwa ni miongoni mwa ndege mpya nne zilizoagizwa. Mwisho mwa mwaka huu ndege hizo zitaanza kuruka kutokea mjini Kigali kuelekea nchi za India na China zikiwa ni safari mpya kwa Shirika hilo la RwandAir. Meneja mkazi wa Shirika hilo hapa nchini, Ibrahim Bukenya amesema mafanikio hayo ni kwa ushirikiano wa wasafiri na washiriki wao kwenye biashara.

ATCL OUT TO RECAPTURE MARKET SHARE LOST TO RIVALS

Revived Air Tanzania Company Limited, with brand new two Bombardier Q400NG turboprop aircrafts, will fly to twelve destinations and offer business class travel to passengers as it seeks to recapture its market share.

Speaking during the inauguration of the two aircraft in Dar es Salaam yesterday, the Minister for Works, Transport and Communication, Prof Makame Mbarawa, said ATCL would be flying to Zanzibar, Mwanza, Dodoma and Arusha, and Kilimanjaro.

Other destinations would be Bukoba, Kigoma, Tabora, Mbeya, Mtwara, he said adding it would also be flying to the Comoro. The two aircraft bought by the government from Bombardier Inc., a Canadian multinational aerospace and transportation company, for the ailing national carrier, were inaugurated by President John Magufuli yesterday.

FSDT LAUNCHES REGIONAL BUSINESS CASE SESSIONS IN MWANZA

FSDT Executive Director, Sosthenes Kewe, speaking during the launch of the regional business case sessions in Mwanza recently. The sessions are part of the continued deliberate efforts to develop the inclusive insurance Market in Tanzania.

Themed ‘Insurance for everyone’, the launch of the Regional Business Case sessions is part of the continued deliberate efforts to develop the Inclusive Insurance Market in Tanzania

DAR ES SALAAM, September 27 2016-The Financial Sector Deepening Trust (FSDT), in partnership with the Tanzania Insurance Regulatory Authority (TIRA) has launched Regional Business Case sessions in Mwanza.The Business Case Sessions aim at bridging the gap between the insurance industry and the rural informal segment of the country’s economy.

Themed ‘Insurance for everyone’, the launch of the Regional Business Case sessions is part of the continued deliberate efforts to develop the Inclusive Insurance Market in Tanzania. The Mwanza sessions have attracted various players in the insurance sector and will kick-start a series of many other similar sessions throughout the country.

The FSDT Executive Director, Sosthenes Kewe said, “the Regional Business Case sessions have been conceptualized to extend the sensitization of the micro insurance business case beyond Dar es Salaam, but more importantly, to stimulate micro insurance demand as well as distribution partnerships in the regions.”

FOREIGN CURRENCY EXCHANGE RATES, COURTESY OF NMB

INDISCIPLINE, CORRUPTION MESSED UP AIR TANZANIA

President John Magufuli yesterday cited unprofessionalism as the major shortfall that sent the once-vibrant national airline to its knees.

Dr Magufuli charged that Air Tanzania Company Limited (ATCL) had been operating in a ‘business as usual’ style without observing professionalism. Speaking at the Julius Nyerere International Airport (JNIA), Dr Magufuli said the national flag carrier's employees went to the extent of operating without even having a manual.

The president said despite treating the firm as the national carrier, ATCL leaders and directors awarded themselves hefty allowance of 50,000/- whenever they visited the company’s daily operations at JNIA and people could visit the airport for as much as three times a day just to maximise the amount receivable.

"It lacked leaders who could make decisions and there were acts of vandalising the company ... there was a system of paying themselves an extra travel allowances and the notorious stations were Comoro, Mwanza, Mtwara and Dar es Salaam,’’ he added.

BRITONS GIVE 6BN/-TO RESTORE LEARNING INFRASTRUCTURE IN KAGERA

The High Commissioner of the United Kingdom to Tanzania, Ms. Sarah  Cooke, presents her credentials to President John Magufuli at State House in Dar es Salaam yesterday. After presenting her credentials, Ms. Cooke announced aid from UK amounting to TShs. 6.3bn/- to restore learning infrastructure in the quake hit Kagera Region.

In a goodwill gesture to ensure students resume classes, UK Department for International Development (DFID) yesterday donated 6.3bn/- to restore learning infrastructure in the quake hit Kagera Region.

The generous contribution is for rebuilding, upgrading and equipping the schools, which were badly damaged by a recent earthquake that also claimed 17 lives and destroyed houses, rendering hundreds of people homeless.

The new British High Commissioner to Tanzania, Ms Sarah Cooke, announced the aid at State House in Dar es Salaam yesterday after she presented her credentials to President John Magufuli.

Education, Science, Technology and Vocational Training Minister, Prof Joyce Ndalichako, addressing reporters in the city shortly after receiving the aid on behalf of the government, said the funds will be spent on rebuilding schools and teachers' houses.

KENYA SUSPENDS VAT ON FUEL

Motorists have been handed a two-year relief with the deferment of value added tax (VAT) on petroleum products, which pushes forward fuel price increases to September 2018 at the earliest. 

Motorists have been handed a two-year relief with the deferment of value added tax (VAT) on petroleum products, which pushes forward fuel price increases to September 2018 at the earliest.

The Finance Act 2016 assented to a week ago extended the exemption of the 16 per cent tax offering relief to motorists who had feared the new levy would once again push petrol prices above Sh100 per litre.

Treasury Secretary Henry Rotich had in his June 8 budget speech indicated that the tax would be deferred for one year but this has now been extended to two years.

PRESIDENT MAGUFULI OFFICIALLY WELCOMES TWO BOMBARDIER Q400NG AIRCRAFT

The president waves to the public who attended the inauguration ceremony.

The arrival of the second Bombardier Q400NG in Dar es Salaam went almost unnoticed, completing the first order for new aircraft Tanzania has placed in decades. A few months ago, after an expeditious review of the national airline’s operations and needs to facilitate a revival, had the Tanzanian government ordered two of the most advanced turboprop aircraft on the market, the Bombardier Q400NextGen.

The two 76 seater aircraft with a single cabin all economy layout will be deployed primarily for domestic services across the sprawling East African nation to allow Air Tanzania not only to increase frequencies on key routes out of Dar es Salaam but also to resume services to a number of other airports to which the airline had to halt operations due to lack of serviceable aircraft.

AIR TANZANIA HEADS TO PROSPERITY

President John Magufuli cuts a ribbon to inaugurate two newly purchased aircraft at Julius Nyerere International Airport (JNIA) in Dar es Salaam yesterday. He is flanked by senior government officials.

President John Magufuli, First Lady, Janeth Magufuli and senior government officials aboard one of the newly purchased aircraft.

President John Magufuli waves to members of the general public who attended the inauguration ceremony.

• Magufuli promises two brand new, long range planes 

Plans are well underway for the government to purchase two more new aircrafts to revamp the ailing national flag carrier, Air Tanzania Company Limited (ATCL).

President John Magufuli affirmed in Dar es Salaam yesterday that already the government has allocated adequate money to buy a 160-seater aircraft and another plane with capacity to carry over 240 passengers.

“If we purchase the aircraft that carries 240 passengers, customers will be assured of direct flights from Dar es Salaam to China or US and our tourists from China, US, Russia, Germany and other countries will comfortably arrive in our country,’’ he said.

Dr Magufuli was speaking at the Julius Nyerere International Airport (JNIA) at the official launch of the two new aircrafts that have just arrived from Canada. The government procured the two brand new Bombardier Q400 NextGen aircrafts from Canada at a cost of 46.6 million US dollars (over 90bn/-).

SSRA YAWATOA HOFU WANANCHI KUHUSU MIFUKO YA HIFADHI YA JAMII NCHINI

 Mkurugenzi wa Huduma za Sheria wa Mamlaka ya Usimamizi na Udhibiti wa Sekta ya Mifuko ya Hifadhi ya Jamii (SSRA), Onorius Njole (kushoto), akitoa ufafanuzi mbalimbali kwenye semina ya siku moja ya wanahabari kuhusu mifuko ya jamii Dar es Salaam leo. Kulia ni Mkuu wa Idara ya Uhusiano na Uhamasishaji, SSRA, Sarah Kibonde.

 Mkurugenzi wa Tafiti, Sera na Tathmini wa SSRA, Ansgar Mushi akitoa mada katika warsha hiyo.

 Waandishi wa habari wakiwa katika semina hiyo.

AfDB PRESIDENT ADESINA CONCLUDES FIRST OFFICIAL VISIT TO NIGERIA

Akinwumi Adesina, President of the African Development Bank Group, completed a three-day official visit to Nigeria on Wednesday, reaffirming the Bank's strong partnership with one of his biggest shareholders and clients, as the country struggles with the impact of an economic recession.

"We are not fair-weather friends. We will stand by Nigeria," Adesina told his interlocutors. He also reassured the country that Nigeria is "not falling apart". The budget deficit remains modest; and the debt is not out of control. "Nigeria is not in a debt crisis," Adesina told the stakeholders he met during his visit.

The Bank Chief met with President Muhammadu Buhari, Vice-President Yemi Osinbajo, Finance Minister Kemi Adeosun, and Central Bank Governor Godwin Emefiele. He also met with the Government's economic team, and representatives of the private sector, as well as donors and young entrepreneurs.

DSE WEEKLY MARKET TURNOVER & CAPITALIZATION

DSE Market Turnover for Week Ending 23rd September, 2016

The week ending Friday 23rd September, 2016 recorded a weekly market turnover of TZS 16.2 Billion, up more than 9 times from last week's market turnover of TZS 1.7 Billion.

The volume of shares traded also increased 14 times from the previous week and closed this week at 4.8 million shares traded. The market leaders in volume traded were CRDB at 72%, TBL at 24% and DSE at 2% of total volume of shares traded (i.e. of the 4.8 million shares traded).

DSE Market Capitalization for Week Ending 23rd September, 2016

Friday 23rd September saw the DSE Total Market Cap up 3.9% at TZS 21.6 Trillion compared to the previous Friday recorded cap of TZS 20.8 Trillion. However the domestic market capitalization experienced a 0.5% decrease at TZS 8.1 Trillion, down from TZS 8.2 Trillion the previous week.

The drop in domestic market cap was contributed to by the Industrial & Allied and the Banking & Finance Sectors, where TBL sustained a 0.39% drop on its share price and lowered the IA sector's index by 13 points and DSE and CRDB sustained respective losses of 3.7% and 3.45% on their share prices and lowered the BI sector index by 34 points. The TSI responded by dropping 19.90 points equivalent to a drop of 0.5% compared to the previous week's averages.

Top Winners

Company	Previous Week	This Week	% Change
ACA	12,950	14,210	9.73%
EABL	5,450	5,840	7.16%
KCB	570	590	3.51%

Top Losers

Company	Previous Week	This Week	% Change
USL	80	70	-12.50%
NMG	2,550	2,380	-6.67%
DSE	1,350	1,300	-3.70%

PRESS RELEASE - NEW DAR ES SALAAM STOCK EXCHANGE BOARD OF DIRECTORS ELECTED

TWIGA CEMENT FAMILY FUN DAY 2016

Twiga Cement Managing Director, Mr. Alfonso Velez (kicking the ball) during the company’s Family Fun Day held at Ledger Bahari Beach over the weekend. Others in the picture are Twiga Cement employees and family members.

Twiga Cement Managing Director, Mr. Alfonso Velez (right) poses with an employee, Mr. Justine Mkude, Head of Transport, after winning in a family game during the company’s Family Day held at Ledger Bahari Beach over the weekend.

STANBIC BANK SUPPORTS PURCHASE OF SCHOOL DESKS

(Left to right) is the South African High Commissioner in Tanzania, H.E. Thami Mseleku, Deputy Minister in the President's Office, Regional Administration and Local Government Hon. Said Jafo and the Head of Personal and Business Banking for Stanbic Bank, Hentie Stemmet. This was during an event held recently, whereby Stanbic Bank Tanzania made a donation of TZS 44 million towards the purchase of school desks for Kongwa district in Dodoma region. 

AfDB APPROVES US $310 MILLION TRADE FACILITATION LOAN FOR ECOBANK TRANSNATIONAL INCORPORATED

The Board of Directors of the African Development Bank (AfDB) approved on Wednesday, September 21, 2016, in Abidjan, a US $310 million trade finance loan for Ecobank Transnational Incorporated, parent company of the Ecobank Group. Through this facility the AfDB will provide critical trade finance funding to support economies in which Ecobank is present.

The intervention comes at a time of falling commodity prices which have caused shortages in foreign exchange supply and led to unmet demand for trade finance instruments to support ongoing structural changes in the respective economies in Sub-Saharan Africa. Through the Ecobank branch network across Sub-Saharan Africa, the project will mainly support small and medium enterprises and local companies involved in import export activity.

The project will help address critical market demand for trade finance and dollar liquidity by supporting vital economic sectors such as agri-business, chemicals, construction, engineering, food processing, manufacturing and non-traditional exports. It will foster financial sector development, provide a platform to support intra-Africa and regional trade and support financing of medium term infrastructure projects, creating robust industries and employment opportunities for youth. It will enhance support to local enterprises in Sub-Saharan Africa, whose trading activities are being constrained by shortages in dollar funding. When fully utilised, including roll-overs, the interventions are expected to facilitate circa US $2 billion of trade over a three and a half-year period.

PRECISION AIR RETURNS TO HAHAYA, COMOROS

Tanzania’s leading Domestic Airline Precision Air has resumed its operations to HAHAYA Comoros today 27th of September 2016. The flight departed from Dar Es Salaam at 10:00am and arrived in the Comoros at 11:50am.

Precision Air suspended its flights to HAHAYA earlier in 2014 and announced to resume the flights early in August this year.

Commenting on the resumption Precision Air’s Commercial Director Mr. Robert Owusu said Precision Air is set to offer reliable air services between Tanzania and Comoro that will speed up trade and movement between the two countries.

‘Our flights will operate every Tuesday, Thursday and Saturday, these frequencies are designed to cater for traders, government officials and leisure travel. Based on the market dynamics we will add more frequency later.’ Mr Owusu added.

NDEGE YA PILI YA BOMBARDIER Q-400 YAWASILI JIJINI DAR ES SALAAM

Ndege ya pili ya Bombadier Q400 iliyonunuliwa na serikali kwa ajili ya Shirika la Ndege la Taifa (ATCL) ikitua katika uwanja wa ndege wa kimataifa wa Julius Nyerere jijini Dar es salaam leo Septemba 27, 2017 ikitokea Canada ilikotengenezwa. Sherehe za uzinduzi rasmi wa ndege hizo umepangwa kuganyika kesho Jumatano Septemba 28, 2016 hapo hapo uwanjani.

 

Ndege ya pili ya Bombadier Q400 iliyonunuliwa na serikali kwa ajili ya Shirika la Ndege la Taifa (ATCL) ikipata Saluti ya maji (Water Canon Salutation) mara tu baada ya kutua katika uwanja wa ndege wa kimataifa wa Julius Nyerere jijini Dar es salaam leo Septemba 27, 2017 ikitokea Canada ilikotengenezwa. Sherehe za uzinduzi rasmi wa ndege hizo umepangwa kuganyika kesho Jumatano Septemba 28, 2016 hapo hapo uwanjani.

NHC YAKABIDHI MASHINE ZA KUFYATULIA TOFALI KWA VIAJANA BUKOBA

Mkuu wa Mkoa wa Kagera Meja Jenerali Mstaafu Salum Kijuu (kushoto) akimkabidhi tofali Afisa Miradi wa Kikundi cha vijana cha Tuinuane cha Bukoba Mjini Christopher Vincent wakati wa makabidhiano ya mashine za kufyatulia matofali iliyotolewa na Shirika la Nyumba la Taifa (NHC) yenye ubora unaofaa kujengea katika mazingira ya Bukoba kulingana na asili ya udongo na miamba ya mkoa wa Kagera.

Mkuu wa Kitengo cha Mawasiliano na huduma kwa jamii Shirika la Nyumba la Taifa (NHC) Bi.Susan Omari (kulia) akitoa maelezo kwa Mkuu wa Mkoa wa Kagera Meja Jenerali Mstaafu Salum Kijuu (kushoto) wakati wa kukabidhi mashine za kuengenezea matofali ya kisasa kwa vijana wa kikundi cha Tuinuane cha Bukoba Mjini yanayoendana na hali ya udongo na miamba ya mkoa wa Kagera leo mjini Bukoba. 

Mkuu wa Kitengo cha Mawasiliano na huduma kwa jamii Shirika la Nyumba la Taifa (NHC) Bi.Susan Omari (kulia) akitoa maelezo kwa vijana wa kikundi cha Tuinuane cha Bukoba Mjini yanayoendana na hali ya udongo na miamba ya mkoa wa Kagera leo mjini Bukoba.

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.

The deal to re-buy the stake, worth $7 million according to reports last year, comes after almost six years of negotiations, which have stalled on numerous occasions because of price.

Tanzania is a highly competitive market, with seven operators competing for market share, as mobile smartphone penetration continues to grow. Mobile subscribers in the country rose by 25 per cent last year alone, to hit 39.8 million, according to figures from industry regulator TCRA.

TTCL is one of the smallest mobile operators with just over 181,000 connections, significantly behind market leader Vodacom Tanzania (12.4 million) and Bharti Airtel Tanzania (11.3 million connections), the Indian company’s main operations in the country.

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.

His new directive came after he had visited the port today upon discovering that only two out of four scanning machines were functioning.

The functional two machines, however, have no capacity of handling all goods imported into country through the port, a situation suggesting poor control of cheats by the business people.

Meanwhile, Dr Magufuli directed the TPA management in collaboration with the responsible ministry to hold talks with the Tanzania International Container Terminal Services Ltd (TICTS) with the view to review the contract the company entered with the government in order to make the country benefit more from the deal.

Daily News

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.

The new kits were launched at a colourful children’s tea party hosted by the airline at its state-of-the-art Innovation Training Academy in Abu Dhabi.

NMB YAENDELEA KUTOA ELIMU KUPITIA MKUTANO MKUU WA ALAT MJINI MUSOMA

Waziri wa Nchi Ofisi ya Rais TAMISEMI, George Simbachawene akisalimiana na meneja wa NMB tawi la Musoma, Sebastian Kayanga alipokuwa anaingia kwenye ukumbi wa Mikutano wa Mwembeni Complex kwa ajili ya ufunguzi rasmi wa Mkutano wa mwaka wa ALAT Taifa. NMB imedhamini mkutano wa ALAT Taifa kwa shilingi Milioni 206 ikiwa ni gharama za mkutano na zawadi kwa ajili ya Meya bora wa Mwaka. Pichani kulia ni Kaimu Meneja wa NMB Kanda ya ziwa, Amos Mubusi.

Kupitia mkutano huo NMB imeelezea jinsi ilivyounganisha mfumo wake wa kibenki na mfumo wa serikali za mitaa (LGRCIS) kufanikisha ukusanyaji mapato ya kwa wakati na bila kupotea na kuandaa vituo vya makusanyo ya fedha kusaidia serikali katika makusano.Akitoa mada kwenye mkutano huo ulioingia siku ya 2 hii leo,Afisa Mkaguzi Mkuu wa ndani wa (NMB) Augustino Mbogella,amesema licha ya kusaidia serikali katika suala zima la ukusanyaji wa mapato, benki hiyo pia imesaidia miradi ya maendeleo ya jamii ikilenga zaidi katika utoaji wa misaada katika sekta ya elimu na afya.

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.

It is also another thorn in the PP's side after repeated failed attempts to form a government following two inconclusive elections, due to a lack of support that is in large part due to corruption scandals sullying the party.

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

Centum Investment chief executive James Mworia.

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.

George Guvamatanga, managing director of Barclays Zimbabwe, which is owned by UK bank Barclays, said what kept him awake was if “correspondent banks severed relationships with Zimbabwean banks as a result of the strict know-your-customer and customer due diligence requirements that banks regulated in the US and UK are required to adhere to”.

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.

Mr Kikwete has been honoured for his contribution in the provision of basic health services, especially for mother and child health and the fight against malaria, through the national campaign dubbed ‘Malaria Haikubaliki,’which involved distribution of free treated mosquito nets, nutrition and vaccination campaigns.

DR. CHARLES 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.

In 2014, former president Jakaya Kikwete also received similar award for statesmanship from the Group. Burkina Faso President Roch Marc Christian Kaboré was among the dignitaries witnessing the award giving ceremony.

The African Leadership magazine is published by African Leadership, UK.

The magazine focuses on bringing the best of Africa to a global audience, telling the African story from an African perspective; while evolving solutions to peculiar challenges being faced by the continent today.

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.

“Twiga Bancorp has decided to open the new branch at Kariakoo as a number of customers who benefit from our loan scheme keep increasing at the area,” said the Twiga Bancorp CEO.

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.

Also in investment banks, research teams, regulators, socially responsible companies, and sovereign wealth and pension fund investors. CMSA beat nine other capital market regulators in the continent include from South Africa, Uganda, Kenya, Ghana, Nigeria, Botswana and Namibia.

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 and Ms. 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.

During her speech Ms Hae Myung Rhee, Chairwoman of the Korean Association in Tanzania, thanked Etihad Airways for being the official airline sponsors of the event which was attended by leading local dignitaries, businessmen, and around 250 members of the local Korean community in Tanzania.