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Wednesday, 20 September 2017

TIB CORPORATE STARTS ISSUING UNSECURED BID BOND

TIB Corporate bank has started issuing bid bond guarantees that does not require applicants to provide any form of security in effort to support development sectors.

The bank said in a statement issued in Dar es Salaam yesterday that the facility is issued within a day upon bank receipt of the customer application. “TIB Corporate bank unsecured bid bond eliminates the security challenges to the applicants hence enabling them to tender for as many works as possible,” the bank said.

VODACOM TANZANIA TO DISTRIBUTE SH6BN TO M-PESA USERS

Vodacom M-Commerce director Sitoyo Lopokoiyit. 

In Summary

  • This is another round of distribution of earnings from M-Pesa Trust accounts covering the period between April 1 and June 30, 2017, the company said in a statement released on Wednesday September 20.
Dar es Salaam. Users of Vodacom Tanzania’s M-Pesa will share Sh6 billion that the mobile operator is distributing as a bonus during the second quarter.
This is another round of distribution of earnings from M-Pesa Trust accounts covering the period between April 1 and June 30, 2017, the company said in a statement released on Wednesday September 20.
The distribution will benefit seven million active M-Pesa users country wide, according to Vodacom.
The quarterly exercise will see M-Pesa customers, agents, super agents, banks, businesses and merchants receiving their share of the bonus earned as a benefit from using the service.

UK-BASED FUND EYES TANZANIAN BANK, INSURANCE FIRM

Dar es Salaam. UK-based investment fund - Old Mutual Group PLC – is targeting to acquire an indirect control in Ecobank Tanzania Limited and UAP Insurance Tanzania Limited as part of the fund’s internal reorganization.
Tanzania Fair Competition Commission (FCC) said it’s now investigating the intended deal whose price was not disclosed before approving the acquisition as required by the local rules.
“FCC has received a merger notification to the effect that Old Mutual PLC, as a result of its internal reorganisation, will acquire indirect control of Ecobank and UAP Insurance,” said FCC in a public notice published on its website.

ECOBANK TANZANIA UNVEILS TWO DIGITAL PAYMENT SYSTEMS

Ecobank Tanzania Managing Director Mwanaiba Mzee addresses the media in Dar es Salaam after the launch of Masterpass and M-Visa for easier retail payment. She is flanked by the bank’s head of commercial Banking Respige Kimati (right) and head of personal banking Ndabu Lilian Swere. PHOTO|CITIZEN CORRESPONDENT 

In Summary

  • Services will improve financial inclusion
Dar es Salaam. Ecobank Tanzania has unveiled two digital payment solutions on Wednesday, September 20, 2017 aimed at easing retail payment.
Using the platforms known as Masterpass and M-Visa which are available in the Ecobank Mobile Application, the bank says it will help to promote financial inclusion among Tanzanians.
Speaking to journalists today, Ecobank's managing director Ms Mwanahiba Mzee said the new banking services will guarantee safety and easy financial transactions.

VODACOM TANZANIA PLC BOARD MEMBERSHIP POSITION

FAST TRACK BANKING CAREER OPPORTUNITY

PRUDENTIAL CAPITAL MARKET UPDATE AS AT 19 SEPT. 2017

CEOrt's ALI MUFURUKI OFF TO ITALY FOR BELLAGIO CENTRE RESIDENCY PROGRAM


In Summary

  • This was announced on Monday, September 18 by the organisation through a statement availed to The Citizen.
  • The Rockefeller Foundation Bellagio Center Residency Program, according to the statement, offers academics, artists, thought leaders, policymakers and practitioners, with various opportunities.
Dar es Salaam - The CEO Roundtable of Tanzania (CEOrt) chairman, Ali Mufuruki has commenced a one month long leave in order to participate in the Bellagio Centre Residency Program in Bellagio, Italy.

The Rockefeller Foundation Bellagio Centre Residency Program offers academics, artists, thought leaders, policy makers and practitioners with various opportunities.

Mr. Mufuruki is among 15 policy residents from all over the world, who have been selected by the Bellagio Centre to participate in this years Policy Residency Program.

PETRA'S WILLIAMSON MINE RESTARTS OPERATIONS


Petra Diamonds has resumed operations at its Williamson mine after a four-day stoppage, it said yesterday, adding that its full-year production target remains unchanged.

The London-listed miner halted operations at the mine last week after the Tanzania government seized a consignment of diamonds and questioned Petra personnel as part of a crackdown on the mining sector.

Petra is keeping a close eye on developments at Williamson, CEO Johan Dippenaar said on Monday after the company posted a 4 percent drop in core profit, sending its shares down 7 percent to 78 pence by 1050 GMT.

However, the company said its forecast includes the Tanzanian mine in normal operation. “We are watching things on a week to week basis,” Dippenaar said on a conference call. “But we won’t allow the mine to endanger the rest of the group.”

Petra also said it was expecting delays in receiving VAT re funds from the totalling $15.8 million because of the current operating environment. Changes made in July to Tanzania’s law on VAT rebates could result in costs at Williamson rising 10 per cent above guidance, Petra warned.

JOB CUTS LOOM IN SAMSUNG NAIROBI OFFICE SHAKE-UP


18th September 2017 - South Korean electronics giant Samsung has downgraded its Nairobi regional office in a major operational shake-up that is likely to result in loss of jobs, joining a host of other multinationals that made similar moves.

The Seoul-based firm said the changes, which come barely two years after it sent home 26 executives from the Nairobi office, are meant to cut costs and improve efficiency across its African market.

The shake-up will see Samsung East Africa’s chief executive and chief finance officer relocate to the company’s South Africa offices, according to sources familiar with the matter.

“By centralising operations and resources, we plan to introduce greater levels of efficiency, and this strategic move will also enable us to focus more significantly on product, sales and marketing functions,” Samsung said in response to our queries.

“We’re unable to provide further details on how many jobs will be affected. Our primary objective is to prevent job losses as we strategically align the business operations.”

SOUTH AFRICA TAX SERVICE TO TAKE LEGAL ACTION AGAINST KPMG


PRETORIA, Sept 18 (Reuters) - South Africa's Revenue Service (SARS) will launch legal proceedings against KPMG due to reputational damage caused by the auditor releasing details of a confidential report it produced for the tax agency, commissioner Tom Moyane said on Monday.

Moyane told a televised news conference that SARS would report KPMG to Finance Minister Malusi Gigaba with a view to blacklisting the auditor for its "unethical" and "unlawful" behavior.

KPMG cleared out its South African leadership en masse on Friday after damning findings from an internal investigation into work done for businessmen friends of President Jacob Zuma.

Reuters

Tuesday, 19 September 2017

EVICTEE COMPLAINTS BLAMED ON UNJUST HOPES


Unjustifiably high expectations are the reason behind complaints by people evicted to pave the way for execution of development projects, the government explained yesterday.

Acting Permanent Secretary in the Ministry of Lands, Housing and Human Settlements Development, Dr Moses Kusiluka, said many evictees were nursing high compensation expectations as a result of increased awareness or wealth pursuit.

Dr Kusiluka was speaking to the ‘Daily News’ ahead of compensation to people who will vacate their lands for the construction of the Hoima-Tanga oil pipeline.

The 1,445-kilometre pipeline from Uganda to Tanzania will stretch through Tanzania’s eight regions - Kigoma, Geita, Shinyanga, Tabora, Singida, Dodoma, Manyara and Tanga.

STATE INJECTS 85BN/- IN RURAL COMMUNICATION, BENEFITS 3,000 VILLAGES

Minister for Works, Transport and Communication, Prof Makame Mbarawa, peruses a document at a base station as a Tanzania Telecommunications Limited (TTCL) official, Mr Thomas Damian (holding microphone) makes clarifications, shortly after the minister inaugurated Nongwa’s TTCL’s telecom tower, located in Bahi District, Dodoma Region, on Sunday. Looking on (left) is Universal Communications Service Access Fund (UCSAF) Chief Executive Officer Eng Peter Ulanga and financiers of the countrywide telecom towers project. Right is District Commissioner Elizabeth Kitundu.
About three million Tanzanians in rural areas have accessed communication services under the Universal Communication Service Access Fund (UCSAF).

According to Works, Transport and Communication Minister, Professor Makame Mbarawa, the government has so far spent over 85bn/- to provide rural dwellers in 3,000 villages with communication services.

The minister was speaking here after a two-day working tour of Dodoma and Morogoro regions to launch the rural telecommunication projects under the joint execution by UCSAF and Viettel Tanzania Limited. Viettel Tanzania, trading as Halotel, is a mobile communications company that provides voice, messaging, data and converged services in the country.

Viettel Global, the state-owned investment firm from Vietnam owns Halotel, which has invested in Telecommunications market in several countries. During the tour, the minister was accompanied by UCSAF Chief Executive Officer, Engineer Peter Ulanga and UCSAF Board Chairman, Dr Joseph Kilongola, among others.

EAST AFRICAN COMMUNITY EYES 30,000 KM ROADS


...member states seek to ease people, goods movements under reliable network
East African Community (EAC) member states envisage upgrading their 30,000-kilometre road network to bitumen standards in the coming 33 years.

At an average rate of 900 kilometres per year, the region’s entire road network will be covered by 2050 as provided for in the EAC Vision 2050.

Decent road infrastructure is among the development milestones detailed in the Vision 2050, which prioritises improved road networks to support industrialisation drive and ease movements of both people and goods.

“The EAC Partner States have agreed on ten transit transport corridors which constitute EAC Road Network, including twelve feeder corridors,” reads the EAC Vision document, maintaining that the infrastructure vision under the Road Transport Sub-sector will be achieved through developing the EAC Corridors.

It’s envisioned that 2050, the level of services along the main transport corridors will have improved substantially, reaching categories B and A, from the current average regional levels of C, D and E.

PASSENGERS TO FLY FREE IN QATAR AIRWAYS’ NEW GLOBAL PROMO

In Summary

  • Dubbed ‘Global Travel Boutique’, the promotion offers passengers from around the world fare deductions on flights in both Economy and Business Class as well as the opportunity to win once-in-a-lifetime Mega prizes which gives them a chance to fly free to any of the airline’s destination for one year, Qatar Airways said in a statement this morning.
Passengers with Qatar Airways may chance to fly for free if they win in the airline’s new promotional drive, the company has announced.
Dubbed ‘Global Travel Boutique’, the promotion offers passengers from around the world fare deductions on flights in both Economy and Business Class as well as the opportunity to win once-in-a-lifetime Mega prizes which gives them a chance to fly free to any of the airline’s destination for one year, Qatar Airways said in a statement this morning.

MAENDELEO BANK SEEKS SH11BN IN IPO

In Summary

The bank officially launched an initial public offering (IPO) yesterday in which it will sell a total of 17,612,417 ordinary shares at a price of Sh600/share, with the city-based Smart Stock Brokers as its lead broker.

Dar es Salaam. Maendeleo Bank Public Limited Company is seeking Sh10.567 billion as it endeavours to transform its status from a regional bank into a commercial one.
The bank officially launched an initial public offering (IPO) yesterday in which it will sell a total of 17,612,417 ordinary shares at a price of Sh600/share, with the city-based Smart Stock Brokers as its lead broker.
By raising the cash, Maendeleo Bank – which trades as MBL – will also move from the DSE’s Enterprise Growth Market Segment (EGMS) to the Main Investment Market Segment, the bank said in a statement yesterday.

WHY ACACIA SACKINGS MAY COST BANKS TENS OF BILLIONS


Sources within the Tanzania Mines, Energy, Construction and Allied Workers Union (Tamico) branch at the mine said most of the workers who had been laid off took loans from various banks and financial institutions.

Banks face an uphill task of recovering an estimated Sh30 billion in loans following the sacking of 2,000 workers at Bulyanhulu gold mine in Shinyanga Region.

Sources within the Tanzania Mines, Energy, Construction and Allied Workers Union (Tamico) branch at the mine said most of the workers who had been laid off took loans from various banks and financial institutions.

Bulyanhulu Mine spokesperson Asa Mwaipopo confirmed at the weekend that 1,200 and 800 direct and indirect jobs, respectively, had been cut at Bulyanhulu mine, one of three gold mines operated by the firm.

EAST AFRICA CURRENCIES FLUCTUATE SLIGHTLY

THE East African currencies have shown strong level of stability fluctuating either side insignificantly against US dollar in the first half of this month.

According to the central banks foreign exchange reports, the highest depreciated currency was Burundian franc, followed by Rwandan franc also loss less than two units and the Tanzania shilling by less than one unit.
The Ugandan shilling was the best after appreciated by almost three units while the Kenyan shilling was the second best after maintained its position despite market uncertainty pushed by drought and fresh presidential election called by the Supreme Court after nullifying the August 8.
Burundi’s franc on sliding mode Bank of Republic of Burundi (BRB) yesterday forex statement showed that the franc lost less than three units to settle at 1,761.56 yesterday from 1,751.00 at beginning of the month.

BANK, REAL ESTATE FIRM PARTNER ON MORTGAGE FINANCING

PEOPLE’s Bank of Zanzibar (PBZ) customers can now smile following a contract signed between PBZ and the ‘CPS Live Limited’ on house mortgage. The signed deal enables PBZ’s depositors to rent or own a house.

CPS Live Limited is currently constructing modern houses at Fumba costal village in Zanzibar. Speaking during a press conference, the PBZ’s managing director, Mr Juma Ameir Hafidh and his CPS counterpart, Mr Sebastian Dietzold told journalists that the project aims at enabling bank employees and customers to live and own modern houses while paying gradually.
“We are doing this to enable people to live in a better place while paying gradually,” said Mr Hafidh. The CPS boss, Mr Dietzold said at least 80 per cent of houses that were built in the first phase at Fumba has been sold.

TANZANIA BREWERIES EMERGES TOP TRADING AT DSE

TANZANIA Breweries Limited (TBL) emerged the top trading equity at the Dar es Salaam Stock Exchange (DSE) last week at 95 per cent of the market share.

During the period under review, the counter transacted 352,078 shares at a price of 13,300/- per share. According to Zan Securities Limited weekly wrap-ups, the Dar es Salaam Stock Exchange (DSE) equity market decreased by 36 per cent after closing at a turnover of 5.46bn/- compared to 8.52bn/-posted of the preceding period.

The top losers for the week was Vodacom that depreciated in value by 14.44 percent, closing at 770/- per share. The counter moved 704,920 shares during the week. Total market capitalisation decreased 2.36 per cent to 20.17tri/- from 20.66tri/- while domestic market capitalisation closed the week at 9.64tr/- after registering a decline of 3.59 percent.

Zan Securities analysts said the market turnover is to be moderate with improved price change in the coming weeks. It is good time for investors to turn the market volatility to their advantage.

PRUDENTIAL CAPITAL MARKET UPDATE AS AT 18 SEPT. 2017

ETIHAD AVIATION GROUP SUPPORTS EDUCATION FOR SYRIAN CHILDREN IN JORDAN TO CELEBRATE YEAR OF GIVING

Etihad Aviation Group staff during their visit to the UAE-Jordan Camp.
  • Visit to UAE-Jordan Camp part of group’s ongoing 2017 Year of Giving initiatives
  • Donation of education supplies to benefit more than 2,500 children living in the camp
  • Third year that group has partnered with Emirates Red Crescent to support camp’s activities 
Abu Dhabi, UAE - Etihad Aviation Group (EAG) has donated school supplies to help thousands of Syrian refugee children at the UAE-Jordan, Mrajeeb Al Fhood refugee camp in Jordan pursue their studies.

A senior delegation visited the camp to present the donation, headed by Khaled Al Mehairbi, Etihad Airways Senior Vice President of Abu Dhabi Hub and attended by His Excellency Hamad Al Shamsi, EAG Board Member and ‎.

The donation to Emirates Red Crescent, comprising more than 2,500 school bags and stationery sets, will benefit children between 5 and 12 years old, some of whom are starting school for the first time this year. Etihad Aviation Group made the donation through a series of fundraisers and volunteer events in Abu Dhabi, including its sixth Annual Ramadan Charity Football Tournament.

Monday, 18 September 2017

BRAZIL CANCELS $203M TANZANIA DEBT

Tanzania’s Ambassador to Brazil, Emmanuel Nchimbi.
Brazil has officially cancelled 203 million US dollars debt owed by Tanzania accrued from a loan secured from the South American economic power house in 1979 for construction of Morogoro-Dodoma road.

Tanzania’s Ambassador to Brazil, Emmanuel Nchimbi and a senior officer in Brazil National Treasury, Dr Sonia Portella signed agreement for cancelling the debt at an event held at Tanzania’s Embassy in Brazil capital city of Brasilia, according to a statement issued yesterday.

A leader of Brazil government delegation at the event, a senior Officer from the Ministry of Finance, Guilheme Laux, declared opening of doors of trade and finance relations between Brazil and Tanzania that were closed because of the outstanding debt.

He said Brazil firms were allowed to secure loans for implementing investment projects in Tanzania and Tanzania’s government could now begin discussions for new development projects with Brazil.

JOB VACANCIES - TIB RASILIMALI LIMITED

PRUDENTIAL CAPITAL MARKET UPDATE AS AT 15 SEPT. 2017

Saturday, 16 September 2017

G-NAKO AWASHIRIKISHA WASHINDI WA MWAGIKA CHALLENGE KWENYE VIDEO YAKE MPYA


Shindano la “Mwagika Challenge” lililoendeshwa na kampuni ya bia ya Tanzania Breweries Limited (TBL) kupitia bia yake ya Kilimanjaro Premium Lager hivi karibuni limefikia tamati ambapo Iddi Kidungwa, Michael Mwalembe na Nasma Msangi wakiibuka washindi. 

Washindi hao wanatarajiwa kuonekana kwenya video mpya ya msanii mkubwa wa bongo Fleva, G-Nako Warawara
‘Mwagika Challenge’ iliyokuwa na lengo la kuwapa fursa vijana kuonesha vipaji vyao pia liliungwa mkono na mastaa kama Shettah na Shilole waliokuwa mstari wa mbele kuhimiza mashabiki kushiriki shindano hilo pia ni miongoni mwa wasanii watakaonekana kwenye video hiyo.


Friday, 15 September 2017

TIGO AWARDS WINNERS OF ‘PURCHASE PHONE AND WIN’ PROMOTION

Tigo Communications Manager, Woinde Shisael, addresses a media conference before she hands out four motorbikes and four LED flat screen televisions to the winners of a promotion dubbed 'buy tecno R6, S1 and win' during a function in Dar es Salaam today. 
Tigo Communications Manager, Woinde Shisael (right), hands over a key of a Hero motorbike to Pius Kavike who emerged one among eight winners of Tigo promotion dubbed ‘Buy tecno R6, S1 and Win’ at a function in Dar es Salaam today. Four winners rode away with one motorbike each while four winners each received an LED flat screen television.

Customers win 4 motorcycles and 4 flat screen LED TV’s in weekly draw

Dar es Salaam,  September 15th, 2017- Leading digital lifestyle company Tigo Tanzania has today handed out two motorcycles and two flat screen LED television sets to the weekly  winners of its ‘Purchase Tecno S1 and Tecno R6 phones from any Tigo shop and win’ promotion that is ongoing across the country.  

Speaking at the handover ceremony at the Tigo offices in Dar es Salaam today, Tigo’s Corporate Communications Manager Woinde Shisael announced the winners of the motorcycle prizes as Tumaini Massra and Pius Kivike of Dar es Salaam, Restituta Gervas of Mwanza and Moses William from Sumbawanga. The winners of the flat screen LED TV sets were Bahati Sambayukma of Dar es Salaam, Venanty Ndunguru of Mtwara, Jackson Mwenga of Mbeya and Amuri Kalinga of Iringa.

NEW ECOBANK BOSS: NON-PERFORMING LOANS WILL DECLINE

The new Ecobank Tanzania managing director, Ms Mwanahiba Mzee speaks to the Mwananchi Communications Limited managing director, Mr Francis Nanai (left) and MCL executive editor, Mr Bakari Machumu at MCL offices today.

In Summary

Speaking when she visited Mwananchi Communications Limited (MCL) offices this morning, Ms Mzee said clients’ ability to repay the loans was improving and that by next year, everything will be fine again.


Dar es Salaam. The new Ecobank Tanzania managing director, Ms Mwanahiba Mzee, has said that the high levels of Non Performing Loans (NPLs) in commercial banks will become a thing of the past next year.

Speaking when she visited Mwananchi Communications Limited (MCL) offices this morning, Ms Mzee said clients’ ability to repay the loans was improving and that by next year, everything will be fine again.

This comes against the backdrop of poor performance of commercial banks last year as they grappled with high NPL levels, precipitated by clients’ failure to repay them in the wake of a change in the management of the economy.

HOW STANBIC IS CHANGING THE RULES OF FUND RAISING




Tom Bisonga, Head of Corporate Investment Banking and Desideria Mwegelo, Head of Marketing and Corporate Affairs at Stanbic Bank Tanzania, handing over a cheque at last year's Charity Goat Race.
What does a bank, goats, drinks, good food and charity have in common?

Not much, you may think. But in case you missed it, goats will race at The Green grounds on Kenyatta Drive in the city for the annual Dar es Salaam Charity Goat Races. This Saturday, the races will reach their climax after a 16-year run as the social event of the year.

Stanbic Bank has sponsored the event over the years that has grown leaps and bounds in supporting special groups, vulnerable children and charity organizations in the country.

The Goat Races are a fun family event, attracting thousands from across the country. The bank’s true blues race will also battle it out in a competitive finale.

KIPANYA AMEAMUA KUISHI MAISHA BILA MAWASILIANO YA WASIWASI


BENKI YA EXIM YATOA MAGODORO NA VITANDA 50 YENYE THAMANI YA MILIONI 20 KWA HOSPITALI YA MNAZI MMOJA, ZANZIBAR




13 Septemba 2017, Zanzibar - Benki ya Exim Tanzania imekabidhi vitanda na magodoro 50 yenye thamani ya TZS 20M / - kwa Hospitali ya Mnazi Mmoja iliyoko Unguja Zanzibar, kama sehemu ya kampeni yake yenye lengo la kusherehekea miaka 20 ya kutumikia jamii.

Benki ya Exim Tanzania iliadhimisha miaka 20 ya huduma, mwezi wa Agosti mwaka huu, kwa kuzindua mradi wa mwaka mzima unaoitwa “miaka 20 ya kujali jamii” ambao Benki hiyo itawekeza shilingi milioni 200 katika sekta ya afya Tanzania. Mradi huu unalenga kusaidia upungufu wa vitanda katika hospitali nchini - hivyo benki ya Exim itatoa magodoro and vitanda 500 katika hospitali za serikali katika mikoa 13 nchini.

Hospitali ya Mnazi Mmoja, ni hospitali ya pili kupokea mchango huu, baada ya Hospitali ya Temeke Dar es Salaam mwezi uliopita. Tukio lilifanyika kwenye hospitali hiyo na mgeni rasmi alikwa Mhesimiwa Balozi Seif Ali Iddi, Makamu wa Pili wa Rais wa Serikali ya Mapinduzi ya Zanzibar.

Akizungumza katika hafla hiyo, Mkuu wa Hazina wa benki ya Exim, Bwana Arafat Haji alisema, “ Mwaka huu benki ya Exim imefikia hatua muhimu sana. Tunasheherekea miaka 20 ya uvumbuzi na kujitolea kwa jamii. Kwa miaka mingi benki ya Exim imewekeza kwa kiasi kikubwa katika sekta ya afya, mazingira na elimu nchini. Tunatambua juhudi za serikali katika kuboresha huduma za afya hivyo basi tumejitolea mwaka huu mzima kuwekeza katika hospitali za serikali katika maeneo mbalimbali nchini.”

EXIM BANK TANZANIA DONTES 50 BEDS AND MATTRESSES WORTH TZS 20M /- TO MNAZI MOJA HOSPITAL IN ZANZIBAR




13th September 2017, Dar es Salaam - Exim Bank Tanzania has donated 50 beds and mattresses worth TZS 20M/- to Mnazi Mmoja Hospital in Unguja Zanzibar, in its ongoing year-long corporate social campaign aimed at celebrating 20 years of serving the Tanzanian community..

In an attempt to address the chronic bed capacity problem plaguing the nation, Exim Bank launched the campaign dubbed “20 years of taking care of the community” last month during the banks 20th anniversary. In total, the bank is investing TZS 200M/- into the Tanzanian health care by donating 500 mattresses and beds to public hospitals in 13 regions across the country.

Mnazi Mmoja Hospital in Zanzibar is the second hospital to receive this donation, after Temeke Hospital in Dar es Salaam last month. The event was held at the hospital grounds and was honoured by the presence of Honorable Ambassador Seif Ali Iddi, the Second Vice President of the Revolutionary Government of Zanzibar.

Speaking at the ceremony, Arafat Haji, Exim Bank Treasury Head said, “This year Exim Bank has reached a significant milestone. We are celebrating two decades of innovation and commitment to our community. For years, Exim Bank has invested heavily in the health, environment and education sector in Tanzania. We are recognizant of the government’s commitment in improving the health care sector, therefore we have dedicated this entire year to invest in public hospitals across the country”.

PRUDENTIAL CAPITAL MARKET UPDATE AS AT 14 SEPT. 2017

Thursday, 14 September 2017

VODACOM BOSS EXPLAINS WHY COMPANIES ARE NOT DOING VERY WELL AT DAR BOURSE

Vodacom Tanzania managing director, Mr Ian Ferrao 
Dar es Salaam. The awareness of stock market operations is still low among Tanzanians, a business leader has said, noting that the situation is adversely impacting on the performance of various equities at the Dar es Salaam Stock Exchange (DSE).

Speaking to The Citizen on sidelines of a meeting the monthly gathering for members of Chief Executive Officers roundtable (CEOrt), the Vodacom Tanzania managing director, Mr Ian Ferrao said what is happening at the stock market is largely a reflection of a lack of awareness about the subject.

The company – which was listed on the DSE on August 15 after undertaking a Sh475 billion Initial Public Offering (IPO) – has seen its share price going down from Sh850 during the initial share sale to Sh770 as of yesterday.

APPLE LAUNCHES $999 IPHONE X IN BID TO REGAIN INNOVATION LEAD

CUPERTINO, Calif. (Reuters) - Apple Inc on Tuesday rolled out its much-anticipated iPhone X, a glass and stainless steel device with an edge-to-edge display that Chief Executive Tim Cook called “the biggest leap forward since the original iPhone.”

The launch contained few surprises, with leaked details on the phone and other products including an updated Apple Watch proving largely accurate. But the iPhone X’s $999 price still raised eyebrows, and its Nov. 3 ship date prompted questions about possible supply constraints ahead of the holiday season.

Investors and fans have viewed the 10th-anniversary iPhone launch as an opportunity for Apple to refresh a smartphone lineup that had lagged the competition in new features. Last year the company’s revenue declined when many consumers rejected the iPhone 7 as being too similar to the iPhone 6.

The new Apple Watch for the first time will be able to make calls and access the internet without the customer carrying an iPhone -- a major upgrade that one analyst predicted would more than double watch sales.

BOA LAUNCHES NEW BANKING APP

In Summary

Known as "Swahiba Mobile", the App gives customers a single view platform for all interaction with the services offered by the bank, according to managing director, Mr Ammish Owush –Amoah.

Dar es Salaam. Bank of Africa Tanzania (BoA) has launched a new banking App that will allow customers to make financial transactions through mobile phone for free.

Known as "Swahiba Mobile", the App gives customers a single view platform for all interaction with the services offered by the bank, according to managing director, Mr Ammish Owush –Amoah.

TIGO BIASHARA YAKUTANA NA WAFANYABIASHARA WAKUBWA KUZINDUA BIDHAA MPYA NA HUDUMA ZA KIPEKEE KUONGEZA UFANISI, UKUAJI NA FAIDA KWA BIASHARA

Kaimu Meneja Mkuu wa Tigo, Simon Karikari akielezea jambo katika mkutano na waandishi wa habari katika uzinduzi wa huduma mpya za Tigo Business zinazowasadia wafanyabiasahra kuongeza ufanisi wa kazi zao. Kulia ni Afisa Mkuu wa Biashara wa Tigo, Hugh Sonn.
Afisa Mkuu wa Biashara wa Tigo, Hugh Sonn akifafanua jambo katika mkutano na waandishi wa habari kuzindua huduma mpya za Tigo Business zinazowasaidia wafanyabiashara kurahisisha mawasiliano na kuongeza ufanisi wa biashara zao. Kushoto ni Kaimu Mkurugenzi Mkuu wa Tigo, Simon Karikari.
Meneja wa Biashara wa Tigo, David Sekwao akifafanua jambo katika mkutano na waandishi wa habari kuzindua huduma mpya za Tigo Business zinazowasaidia wafanyabiashara kurahisisha mawasiliano na kuongeza ufanisi wa biashara zao. Kulia ni Mkuu wa Mauzo wa Tigo, Kadambara Maita.

PRUDENTIAL CAPITAL MARKET UPDATE AS AT 13 SEPT. 2017

STANDARD BANK HANDS OVER REINS TO FIRST SOLE BLACK CEO

Standard Bank sole CEO Sim Tshabalala.
Johannesburg - Standard Bank [JSE:SBK] appointed Sim Tshabalala as sole chief executive officer (CEO), ending a dual role he shared with Ben Kruger, and making him the first black person to lead Africa’s largest lender independently.

Kruger, 58, will step down as joint-CEO immediately and continue as an executive director, reporting to Tshabalala, 49, Johannesburg-based Standard Bank said in a statement on Tuesday.

The joint leadership structure was necessary as part of the company’s management succession plan when it was introduced in 2013, the lender said.

Tshabalala becomes the only black person to lead one of South Africa’s biggest banks since Sizwe Nxasana retired as the head of FirstRand [JSE:FSR] in March 2015.

President Jacob Zuma has criticised lenders, including Barclays Africa [JSE:BGA], for doing too little to boost black participation in their companies since apartheid ended in 1994. In the past decade, all but Nedbank’s [JSE:NED] board regressed on racial diversity.