FORBES - THE BEAUTY QUEEN FROM TANZANIA WHO IS BUILDING A FURNITURE EMPIRE

Jacqueline Ntuyabaliwe.

Weaving in and out of Dar es Salaam’s grating midday traffic in her chauffeured white Mercedes S550, Jacqueline Ntuyabaliwe, a svelte 38-year-old beauty, is transfixed by an image of a dining set on her phone. With a slim, elegant finger, she prods her cellphone screen to show me the picture she’s looking at.

“This is one of our pieces,” she says, pointing to the picture of a 5-piece dining set. It’s one of the items produced by Molocaho by Amorette, the furniture-manufacturing firm she recently founded. “This set was handcrafted from timber which was reclaimed from old cargo boats from the Indian Ocean along Tanzania’s coastline,” says the entrepreneur earnestly.

The dining furniture, she tells me, has been ordered by a family from Europe who recently visited her showroom in Dar es Salaam during a vacation a few weeks back, and she’s about to ship it over to her new European clients. But first, she’s rushing to her factory to inspect the set herself for the umpteenth and final time before it’s shipped off, to ensure the wood finishing is perfect.

Jacqueline Ntuyabaliwe, a self-acclaimed perfectionist, is a lady who pays great attention to detail. Despite her busy schedule (she is an African ambassador for WildAid and sits on a number of corporate boards; a mother to twin boys; wife to one of Africa’s most successful businessmen, and runs an education-focused charity), Ntuyabaliwe ensures she personally inspects every bit of furniture her company produces before it’s sold or exported.

“I love perfection!” exclaims the former Tanzanian beauty queen and musician, chopping the air for emphasis. “Everything we do at Molocaho has to be perfect,” she says. “We’re competing with the best from around the world and if we don’t put our best foot forward, we might as well just pack our bags and go home.”

FIRST NATIONAL BANK OPENS NEW BRANCH IN ARUSHA

The First National Bank Chief Executive Officer, Dave Aitken chats with the Deputy Minister of Finance, Dr. Ashatu Kijaji during the official opening of the FNB Arusha branch over the weekend. 

The Deputy Minister of Finance and Planning, Dr. Ashatu Kijaji cuts a ribbon to officially launch the First National Bank Branch in Arusha over the weekend. Looking on is the Arusha District Commissioner, Gabriel Daqqaro, FNB Chief Executive Officer, Dave Aitken and the Arusha City Mayor, Calist Bukhai. 

The FNB Arusha Branch Manager, Genevieve Massawe explains to the Deputy Minister of Finance and Planning, Dr. Ashatu Kijaji how to use the multifunction ATM machine which allows users to make cash deposits during the launch of FNB Arusha branch over the weekend. The most technologically advanced multifunction ATMs have been installed at the Arusha branch and will cater to the needs of both the retail and corporate segments. 

The FNB Customer and Sales Consultant, Cecyline Ayo, explains about various products and Services to the Deputy Minister of Finance and Planning, Dr. Ashatu Kijaji during the official opening of the FNB Arusha Branch over the weekend. 

The First National Bank Chief Executive Officer, Dave Aitken adjusts a microphone for Deputy Minister of Finance and Planning, Dr. Ashatu Kijaji during the official opening of FNB Arusha branch over the weekend. 

First National Bank Tanzania continues to expand its national footprint with the opening of a branch at PPF Plaza in Arusha to cater for the growing number of customers in the region.

Speaking at the opening, First National Bank Chief Executive Officer, Dave Aitken said the launch of FNB Arusha branch is specifically geared at easing access to FNB services and meeting the fast growing demands of banking and financial services in the northern circuit zone.

“Inauguration of the Arusha branch is a display of our continued investment and strategy of driving access to financial services in the country. It is also in the interest of the rapid growth of Arusha which plays an integral role in the economic growth of Tanzania.”

SAMSUNG WILL ANNOUNCE THE GALAXY S8 ON MARCH 29

Samsung's next major smartphone is coming in a little over a month.

On Sunday the company sent invitations to the press for an event in New York City where it will announce the Galaxy S8, its first major product since the Galaxy Note 7 debacle last year. The event takes place Wednesday, March 29.

Here's a look at the invitation, which teases the new phone:

samsung galaxy s8 invitation (Samsung)

There's a lot of pressure on Samsung to nail the Galaxy S8 launch following the embarrassing Galaxy Note 7 explosions last year. Samsung released the findings of an investigation last month that looked into what caused some Note 7s to overheat and explode. The company promised to perform rigorous battery tests on all future products.

We've already heard a bunch of rumors about the Galaxy S8. The phone is said to have a nearly borderless screen (the teaser image above appears to confirm that rumor) and no home button. It will also have a new digital assistant based on Viv, a startup founded by the makers of Siri that Samsung bought last year. We've rounded up the rest of the Galaxy S8 rumors for you right here.

ZANTEL EMPLOYEES DONATE BLOOD TO SUPPORT MEDICAL EMERGENCY CASES

ZANTEL has hosted a blood donation drive in an initiative for its employees to voluntarily donate blood needed for medical emergency cases every year.

The blood donation exercise is part of the company’s Corporate Social responsibility (CSR) and the continuation of their campaign dubbed ‘Shea upendo na uwapendao’ literally meaning spread love to your loved ones.

Speaking at the blood donation exercise held at the company’s headquarters in Dar es Salaam over the weekend, on behalf of Zantel’s Head of Human resources, Frank Jackson said that the initiative is conducted to assist in some of the challenges faced by patients who need blood transfusion in Tanzania with an overall purpose of saving as many lives as possible especially children under the age of five.

BARCLAYS AGREES TO PAY $988 MILLION TO SPLIT WITH BARCLAYS AFRICA

JOHANNESBURG (Reuters) - Barclays PLC has agreed to pay Barclays Africa 12.8 billion rand ($988 million) to fund investments required to separate it from its African unit, Barclays Africa said on Thursday.

Sealing the separation agreement terms paves the way for the British bank to reduce its stake to below 50 percent under a strategy which will see it focus on the United States and Britain.

Reuters

KCB TO SEND HOME KENYA STAFF AFTER RWANDA LAYOFFS

NAIROBI. KCB Group has confirmed plans to lay off an undisclosed number of staff in its Kenyan unit to cut expenses.

The lender said on Monday the redundancies had been occasioned by “fast evolving technology changes, and a dynamic regulatory regime”.
“KCB Bank has over the past two years been reviewing its operations in an effort to improve efficiency, serve our customers better, and meet the expectations of our shareholders,” said the bank in a statement.

“The review, which is an ongoing process that has seen us relook our workforce, has been done in keeping with the best business practice in an industry that is undergoing a major transformation driven by fast evolving technology changes, and a dynamic regulatory regime.” 

The NSE-listed bank, however, declined to disclose the number of staff to be affected by the looming retrenchment which has unsettled its workforce. This month KCB sent home 28 staff at its Rwandan subsidiary. 

BENKI YA STANDARD CHARTERED YAKABIDHI VIFAA VYA MICHEZO KWA COCA COLA, MWANANCHI

Mkuu wa Wateja Binafsi wa Benki ya Standard Chartered, Michael Shio (wa kwanza kulia) akimkabidhi Mhariri Mtendaji wa Mwananchi Communication Limited, Bakari Machumu (wa kwanza kushoto) vifaa vya michezo kwa ajili ya mashindano ya Kombe la Standard Chartered 2017 (Road to Anfield) ikiwa ni sehemu ya maadhimisho ya miaka 100 tangu benki hiyo kuanzishwa mwaka 1917 yanayotarajiwa kuanza kutimua vumbi Jumamosi hii jijini Dar es Salaam. Wanaoshuhudia tukio hilo ni Mkuu wa Mahusiano na Masoko wa Benki ya Standard Chartered, Juanita Mramba (wa pili kushoto) na Nahodha wa timu ya Mwananchi Communication Limited ambaye ni bingwa mtetezi Majuto Omary (wa pili kulia).

Mkuu wa Mahusiano na Masoko wa Benki ya Standard Chartered, Juanita Mramba (wa pili kushoto) akimkabidhi Mhariri Mtendaji wa Mwananchi Communication Limited, Bakari Machumu (wa kwanza kushoto) vifaa vya michezo kwa ajili ya mashindano ya Kombe la Standard Chartered 2017 (Road to Anfield) ikiwa ni sehemu ya maadhimisho ya miaka 100 tangu benki hiyo kuanzishwa mwaka 1917 yanayotarajiwa kuanza kutimua vumbi Jumamosi hii jijini Dar es Salaam. Wanaoshuhudia tukio hilo Mkuu wa Wateja Binafsi wa Benki ya Standard Chartered, Michael Shio (wa kwanza kulia) pamoja na kwa Nahodha wa timu ya Mwananchi Communication Limited, Majuto Omar (wa pili kulia) wakati wa halfa fupi ya makabidhiano hayo jijini Dar es Salaam.

Mkuu wa Mahusiano na Masoko wa Benki ya Standard Chartered, Juanita Mramba (wa kwanza kushoto) akimkabidhi Nahodha wa timu ya Mwananchi Communication Limited, Majuto Omar ( kulia) seti ya jezi kwenye hafla fupi ya makabidhiano iliyofanyika jijini Dar es Salaam. Anayeshuhudia tukio hilo ni Mkuu wa Wateja Binafsi wa Benki ya Standard Chartered, Michael Shio (katikati).

Mkuu wa Wateja Binafsi wa Benki ya Standard Chartered, Michael Shio (wa pili kulia) akimkabidhi vifaa vya michezo Mwenyekiti wa timu ya Coca cola, Samuel Mwakatumbula wa pili kutoka (wa pili kushoto) kwa ajili ya mashindano ya Kombe la Standard Chartered 2017 (Road to Anfield) ikiwa ni sehemu ya maadhimisho ya miaka 100 tangu benki hiyo kuanzishwa mwaka 1917 yanayotarajiwa kuanza kutimua vumbi jumamosi hii jijini Dar es Salaam. Wanaoshuhudia tukio hilo ni Mkuu wa Mahusiano na Masoko wa Benki ya Standard Chartered, Juanita Mramba (wa kwanza kushoto), Simon Masanja mchezaji wa timu ya Coca cola (wa kwanza kulia) na Salehe Omar mchezaji wa timu ya Coca cola (katikati).

Mkuu wa Mahusiano na Masoko wa Benki ya Standard Chartered, Juanita Mramba (kushoto) akimkabidhi mmoja wa wachezaji wa timu ya Coca cola, Simon Masanja (kulia) vifaa hivyo vya michezo kwa ajili ya mashindano ya Kombe la Standard Chartered 2017 (Road to Anfield) ikiwa ni sehemu ya maadhimisho ya miaka 100 tangu benki hiyo kuanzishwa mwaka 1917 yanayotarajiwa kuanza kutimua vumbi jumamosi hii jijini Dar es Salaam. Wanaoshuhudia tukio hilo ni Mkuu wa Wateja Binafsi wa Benki ya Standard Chartered, Michael Shio (wa pili kulia), Mwenyekiti wa timu ya Coca cola, Samuel Mwakatumbula wa pili kutoka (wa pili kushoto) na Salehe Omar mchezaji wa timu ya Coca cola (katikati).

Benki kongwe nchini Standard Chartered imekabidhi vifaa kwa timu za Mwananchi Communication Limited na Coca cola kwa ajili ya mashindano ya ya Kombe la Standard Chartered 2017 (Road to Anified) yaliyopangwa kufanyika Jumamosi, kwenye viwanja vya JMK Park Kidongo Chekundu.

Mbali ya kutafuta washindi wa kuiwakilisha Tanzania katika mashindano ya Afrika Mashariki, mashindano hayo pia ni sehemu ya maadhimisho ya miaka 100 tangu benki hiyo kuanzishwa mwaka 1917.

INTERVIEW WITH EDWARD MARKS, MANAGING DIRECTOR OF NATIONAL BANK OF COMMERCE (NBC)

TanzaniaInvest had the pleasure of interviewing Edward Marks, Managing Director of NBC Bank Tanzania, the oldest bank in the country and the 3rd largest by assets and market share. 

Barclays Africa Group Limited holds 55%, while The government of Tanzania holds 30%, and the remaining 15% is held by the International Finance Corporation (IFC), a member of the World Bank Group. 

Prior to his appointment in May 2015, Marks served as Managing Director of Barclays Bank Egypt where he led the bank through a difficult operating environment. 

In this exclusive interview Marks discusses the challenges and opportunities in the Tanzanian banking sector and the role and strategy of NBC. 

TanzaniaInvest (TI): There are approximately 53 banks, not including other financial institutions in Tanzania in spite of limited banking penetration. The sector is currently affected by credit squeeze and increased Non-Performing Loans (NPLs). What is your assessment of the situation and how has NBC been performing in the midst of the overlying situation? 

 Edward Marks (EM): As a bank, we were quite proactive in Quarter 1 2016 and as a result we had one of the best liquidity position in the market in Quarter 3 and Quarter 4. 

This is because we predicted the incoming liquidity challenge and we bought bulk deposits, which tightened our budget but provided us with extra liquidity; this allowed us to be able to lend and execute large deals in those challenging conditions.

Click here to access the complete article, courtesy of TanzaniaInvest

FB ATTORNEYS LEGAL UPDATE - MINISTRY TO CONDUCT VERIFICATION OF WORK PERMITS

FOR INDIA, STRONG GROWTH PERSISTS DESPITE NEW CHALLENGES

Women workers at an air conditioner plant in Gurgaon, India. Reforms that support more women working can strengthen India's ongoing recovery.

February 22, 2017

• India remains one of the fastest growing emerging market economies
• Due to recent cash shortages, growth is projected to slow temporarily this fiscal year
• Maintaining the reform momentum is key to stronger growth

India’s overall outlook remains positive, although growth will slow temporarily as a result of disruptions to consumption and business activity from the recent withdrawal of high-denomination banknotes from circulation.

But the nation's expansion will pick up again as economic reforms kick in, said the IMF in its latest assessment. Growth is expected at 6.6 percent in this fiscal year and at 7.2 percent in the following year.

Speaking to IMF News, IMF mission chief for India Paul Cashin discusses these and other challenges, and also highlights the opportunities for this vibrant economy moving forward.

STANBIC BANK TANZANIA LAUNCHES REVOLUTIONARY MOBILE PAYMENTS FOR CORPORATES

Stanbic Bank Tanzania Head of Transactional Products and Services, Charles Mhina (left) addressing a press conference to launch a new suite of payment solutions – Bulk Mobile Payment and Till to Bank - designed to make cash payments and collections more efficient for organizations in Dar es Salaam on Tuesday. Looking on is the bank’s Head of Client Access, Allen Chiombola.

Convenient, fast and secure online business banking solution

Stanbic Bank Tanzania has launched a new suite of mobile payments and collection solutions designed to make cash collections and payments more efficient for organizations, as part of its efforts to offer convenient and secure banking.

Speaking at the launch event in Dar es Salaam on Tuesday, the bank’s Head of Transactional Products and Services, Mr. Charles Mhina said the game changing payment and collection offerings – Mobile Bulk Payments and Till to Bank - will guarantee the bank’s clients across various sectors enhanced service delivery, reduction of high dependence on cash and provide merchants control over their collections.

Unveiling the first-in-the-market solution dubbed Mobile Bulk Payment, Mr. Mhina said the capability will allow organizations to make online payments from their Stanbic accounts to multiple mobile wallets including Tigo Pesa, Airtel Money, Ezypesa and Mpesa at a press of a button anytime, anywhere.

PTA BANK RE-BRANDS TO TRADE AND DEVELOPMENT BANK

WORLDREMIT SEES HUGE GROWTH IN MONEY TRANSFERS TO TANZANIA

Digital money transfer service hits 10,000 unique transactions per month

DAR ES SALAAM, Tanzania, February 20, 2017/ -- Digital money transfer service WorldRemit (www.WorldRemit.com/en/Cameroon) is consolidating its rapid expansion into Tanzania, supporting the growing demand for instant remittances to the country from over 4 million expatriates living abroad. Today WorldRemit is announcing: A new record of 10,000 unique transactions completed in the month of December 2016 alone; 150% YoY growth in 2016, driven primarily by the rapid expansion of Mobile Money accounts as the preferred receive method. WorldRemit customers can send money to Tanzania via Mobile Money to Tigo Pesa, Vodacom M-Pesa and Zantel Ezy Pesa Mobile Money accounts, as well as bank deposit and cash pick up. The biggest senders to Tanzania include migrants currently living in the UK, Sweden, Australia, Norway and Canada, amongst others.

VACANCY ANNOUNCEMENTS AT TRADE & DEVELOPMENT BANK (FORMERLY PTA BANK)

The Eastern and Southern African Trade and Development Bank, recently rebranded as Trade and Development Bank (formerly PTA Bank), is a specialized African multilateral financial institution serving most of the Eastern and Southern Africa. The Bank’s objective is to provide short, medium and long term financing to viable projects and trade finance activities in member states.

The Bank is looking for self-motivated and results oriented individuals to join a team committed to building a world class African financial institution. The Bank offers competitive tax free salaries and benefits commensurate with the standards of excellence that it expects. Interested and qualified candidates are therefore invited from nationals of member states to apply for the following positions;

• HEAD CREDIT RISK MANAGEMENT...Click Here
• SENIOR CREDIT SUPPORT OFFICER...Click here
• SENIOR INFORMATION SERVICES OFFICER...Click here
• CREDIT FINANCIAL ANALYST...Click here
• INVESTOR RELATIONS OFFICER...Click Here

BENKI YA NMB YAAHIDI KUBORESHA HUDUMA ZA KIJAMII ZANZIBAR

Mkurugenzi Mkuu wa Benki ya NMB nchini Tanzania, Bi. Ineke Bussemaker akiwa na mwenyeji wake Dk. Shein katika Ikulu ya Zanzibar hivi karibuni.

Rais wa Zanzibar na Mwenyekiti wa Baraza la Mapinduzi Dk. Ali Mohamed Shein ameeleza kuwa azma ya Benki ya NMB ya kuendelea kuziunga mkono juhudi za Serikali ya Mapinduzi ya Zanzibar katika kuimarisha miradi ya maendeleo katika jamii itasaidia kuimarisha uchumi na kuleta tija kwa wananchi wa Zanzibar.

Dk. Shein aliyasema hayo alipozungumza na Mkurugenzi Mkuu wa Benki ya NMB nchini Tanzania Bi Ineke Bussemaker alipofika Ikulu mjini Zanzibar. Katika maelezo yake, Dk. Shein alisema kuwa Benki ya NMB imekuwa na mchango mkubwa katika kuzisaidia sekta za maendeleo hapa nchini zikiwemo sekta ya afya, elimu na nyinginezo hatua ambayo ni muhimu katika kufikia malengo yaliyokusudiwa

SAMSUNG'S REPUTATION HAS CRASHED AFTER ITS NOTE 7 EXPLODING PHONE FIASCO

Samsung's reputation has taken a battering over the last year.

Its Galaxy Note 7 smartphone was a disaster of unprecedented proportions — the premium device wouldn't stop exploding, forcing Samsung to issue a global recall that cost it $5 billion (£4 billion) in losses and lost sales.

And now it's seeing the consequences with consumers.

Every year, Harris Poll ranks the reputation of the 100 most visible companies in the US — and this year, Samsung has dropped dramatically. In 2016, it was ranked seventh; today, it has dropped to 49th. (In 2015, it was ranked third.)

By any measure, the Note 7 has been a catastrophe for Samsung. Faulty batteries led to dozens of the devices malfunctioning, and even a recall and supposed fix couldn't solve the problem, leading the company to discontinue the device entirely.

Historically known for its premium, iPhone-rivalling Android phones, its exploding handsets have instead become the frequent butt of jokes after they hospitalised at least one person, and airlines issue constant warnings against using them on planes. It's clearly not a brand association that any company wants.

DAR ES SALAAM STOCK EXCHANGE MARKET CAPITALISATION FOR THE WEEK ENDING FEBRUARY 17, 2017

Friday 17^th February saw the DSE Total Market Cap increase by 5.2% at TZS 20 Trillion compared to the previous Friday recorded cap of TZS 19.0 Trillion. Domestic market capitalization remained at TZS 7.1 Trillion this week. This was also demonstrated by a 112-point increase equivalent to a 5.2% increase on the DSEI index which represents all shares listed on the DSE.

DSE Market Activity for Week Ending 17^th February, 2017

Bonds

The week ending Friday 17^th February recorded a weekly market turnover of TZS 3.98 Billion on its bond market activity, compare to the previous week where there was no bond trading activity. Three Government Bonds with a face value of TZS 5.15 Billion were bought and sold on the market.

Shares 

Market turnover on shares decreased from TZS 406 Million to TZS 228 Million this week. The volume of shares traded also decreased from 373,000 shares to 257,000 shares. The market leaders in contributing to equity market turnover were TBL at 33%, MCB at 20.3% and DSE at 18% of total equity market turnover (i.e. of the TZS 228 Million equity market turnover).

Top Winners

Company	Previous Week	This Week	% Change
ACA	12,700	14,920	17.48%
NMG	1,690	1,870	10.65%
JHL	10,320	10,520	1.94%

Top Losers

Company	Previous Week	This Week	% Change
DSE	1,060	1,000	-5.66%
EABL	4,860	4,850	-0.21%

BAN ON ‘VIROBA’ TO HELP STATE CONTROL RAMPANT TAX EVASION

PRODUCTION and packaging of alcoholic drinks in plastic sachets, viroba, are reportedly denying the government a whopping 600bn/- in revenues, annually, due to tax evasion.

Minister of State in Vice- President’s Office, Union Affairs and Environment, January Makamba, addressing reporters in Dar es Salaam yesterday, said the government has formed a national task-force to enforce the ban on sachet-packed liquor.

“The envisaged ban on alcohol in plastic sachets will as well enable the government to curb tax evasion...it’s estimated that about 600bn/- is lost through evasion due to production and packaging of the hard liquor in plastic sachets,” he explained.

Mr Makamba revealed further that the government was currently drafting regulations on the packaging of hard liquor, requiring producers, among others, to pack the drinks in returnable bottles of not less than 250 milligrams.

ZANZIBAR PRESIDENT, ALI MOHAMED SHEIN MEETS WITH NMB MANAGING DIRECTOR, INEKE BUSSEMAKER

Zanzibar President, Dr. Ali Mohamed Shein speaks to National Microfinance Bank (NMB) Managing Director, Ineke Bussemaker at Zanzibar State House recently. Dr. Shein lauded NMB for their contribution to the national development, particularlyin the sectors of education, health and agriculture.

PRESIDENT JOHN MAGUFULI MEETS WITH CHAIRMAN OF BHARTI ENTERPRISES, MR. SUNIL BHARTI MITTAL

President John Magufuli bids farewell to the Founder and Chairman of Bharti Enterprises, Mr. Sunil Bharti Mittal after a meeting at State House in Dar es Salaam recently, to dicsuss about Airtel business operations in Tanzania. The Government owns 40% shares of the Company. Mr. Mittal expressed willingness to list Airtel Tanzania onto the Dar es Salaam Stock exchange for Tanzanians to buy and own shares of the Company.

IPTL GIVEN 21 DAYS TO CHALLENGE QUEEN'S BENCH

The High Court’s Commercial Division has given 21 days the Independent Power Tanzania Limited (IPTL) to challenge enforcement of foreign judgment for payments of 168,800,063 US dollars in favour of Standard Chartered Bank Hong Kong Limited and Standard Chartered Bank Malaysia Berhard.

Judge Barke Sahel reached into such decision last week after allowing an application by the two banks for reciprocal enforcement of the judgment given in their favour by the High Court of Justice Queen’s Bench, Division Commercial Court of England, late last year.

In allowing the application, the judge was satisfied that the conditions set in the Reciprocal Enforcement of Foreign Judgment Act, have been met. She therefore registered the judgment and orders on the November 16, 2016 issued by the London Court.

PRIME MINISTER DENOUNCES DECEPTIVE LABELS

Prime Minister Kassim Majaliwa displays the Manyara manufactured Minjingu fertilizer bag whose label deceitfully presents the farming input as Kenyan. The vividly irked Premier ordered the Plant Management to apologise to President John Magufuli on behalf of Tanzanians for the misdeed. Looking on (left) is Agriculture, Livestock and Fisheries Minister, Charles Tizeba and Manyara Regional Commissioner, Joel Bendera.

Prime Minister Kassim Majaliwa on Sunday denounced the labelling of Minjingu fertilizer as foreign manufactured, directing the plant management to immediately write an apology letter to President John Magufuli. He ordered the manufacturers to forthwith start tagging the farm inputs as Tanzanian.

The Premier also directed the Minjingu Mines and Fertilizers to boost daily production of the farm input from 1,500 to 5,000 tonnes.

“Increased production is the only way to address the acute shortage of fertilizer in the country and control the prices,” charged the Premier, arguing that while a bag of domestically manufactured fertilizer sales at 55,000/-, imports go for as high as 65,000/- per bag.

NBC MALENGO ACCOUNT CAMPAIGN TWO WINNERS UNVEILED, EACH WON 2016 BRAND NEW TOYOTA HILUX DOUBLE CABIN

NBC Head of Retail Banking, Filbert Mponzi (centre), speaking in Dar es Salaam at the weekend, before the Malengo Savings Account campaign draw for two brand new Toyota Double Cabin Pick Up vehicles that NBC has given out as main prizes to their customers. The Malengo Savings Account campaign was held for three months and two eventual winners were announced through the draw. The winners are Dar es Salaam resident and businessman Aldo Aidan Nsuha and Mtwara resident Lawrence Cletus Njozi. He is flanked from left by Dorothea Mabonye, NBC Retail Liabilities Manager and from the right Alina Maria Kimaryo, NBC Marketing Manager.

NBC Head of Retail Banking, Filbert Mponzi (centre), speaking to the press (not in picture) in Dar es Salaam, during the NBC Malengo Savings Account campaign draw for two brand new Toyota Double Cabin Pick Up vehicles that NBC has given out as main prizes to their customers. The winners are Dar es Salaam resident and businessman Aldo Aidan Nsuha and Mtwara resident Lawrence Cletus Njozi. On the left is Dorothea Mabonye, NBC Retail Liabilities Manager and on the right is Maria Kimaryo, NBC Marketing Manager.

NBC Marketing Manager, Alina Maria Kimaryo (right), speaking to one of the Malengo Savings Account campaign winners of two brand new Toyota Double cabin pick up vehicles that were the main prizes during a draw that was held recently. The winners are Dar es Salaam resident and businessman Aldo Aidan Nsuha and Mtwara resident Lawrence Cletus Njozi. Looking on is Filbert Mponzi, NBC Head of Retail Banking and Dorothea Mabonye, NBC Retail Liabilities Manager. Standing in the background is Bakari Maggid,  Gaming Inspector from Gaming Board of Tanzania.

TRA REVENUE COLLECTION DECLINES IN JANUARY 2017

Revenue collection declined by 274bn/- in January from the amount collected in December last year.

Tanzania Revenue Authority (TRA) said in a statement that collections in January reached 1.14tri/- which is down from 1.414tri/- collected in December last year. No reason has been given for the decline in the collection. TRA said in a statement that revenue collections for January was 1.14tri/- , making the total collections for the first seven months of 2016/17 fiscal year to 8.41tri/-.

The authority had said in another statement in January that revenue collection had soared in the second half of last year to 7.27 trillion/-, up from 6.44 trillion/- in the corresponding period of the previous year. TRA is focused on collecting property tax by providing bills to landlords in different regions as well as increasing public education to all stakeholders, the statement said.

EXCITING JOB VACANCY - MANAGING DIRECTOR, MKOMBOZI COMMERCIAL BANK PLC

Kazi Services Limited is recruiting on behalf of Mkombozi Commercial Bank (MKCB).

POSITION: Managing Director
DUTY STATION: Dar es Salaam
REPORTS TO: The Board of Directors

POSITION OBJECTIVES, DUTIES AND RESPONSIBILITIES

Position Objectives

The Managing Director shall be the Chief Executive Officer, responsible for the day-to-day management of the Bank, for provision of a dynamic and strategic leadership, vision and direction of the bank, ensuring appropriate outreach, growth and profitability while providing high-quality and transformation services. He or She shall be appointed by the Board of Directors.

Duties and Responsibilities
The successful applicant will be responsible 'for, but not limited to the following duties:

• Provide leadership and direction in the provision of effective and efficient operations across the banks network;
• Formulating and recommending the Bank's vision, mission and strategic direction to Board of Directors.;
• Leading in the development, implementation and evaluation of the Bank's strategic plans in line with the bank's vision and mission and shareholder expectations;

ADESINA TO AMBASSADORS ACCREDITED IN IVORY COAST: “WE ARE STRONGER THAN EVER BEFORE”

In a major speech delivered before the diplomatic community in Abidjan, African Development Bank Group President Akinwumi Adesina stressed that the Bank is stronger than ever before. The lending and disbursements are at record levels, while the institution has made significant efficiency gains.

Adesina was addressing diplomats accredited to Côte d’Ivoire and whose countries are members of the Africa’s premier financial institution. The discussion took place in the context of the Bank’s annual Ambassadors’ Luncheon.

The leader of the AfDB gave an overview of the evolution of the Bank’s situation in 2016. “We are stronger than ever before. We have improved institutional efficiency, effectiveness and delivery,” he said. Looking at the Bank’s activities, he stated that the Bank achieved record levels of loans and disbursements.

Adesina stressed that now, more than ever, there are real reasons to be optimistic about the future of the continent. “I am proud to be ‘Africa’s Optimist-in-Chief,’” he said, “because my optimism comes from strong conviction that Africa, our continent, is facing the future with strength, conviction and confidence.

“Africa is dynamic and on the move,” the President of the AfDB said. “Economic projections show that growth will improve to 3.2% in 2017.”

THE AFRICAN DEVELOPMENT BANK APPROVES NEW US $28.2-MILLION FUNDING INJECTION IN SHELTER AFRIQUE

• African Development Bank supports the African housing sector through Shelter Afrique
• US $20-million loan approved, after a recent US $8.2-million equity injection
• Shareholders agree to pay up their share of capital commitments by the end of 2017

On February 1, 2017, the African Development Bank disbursed an equity investment of US $8.2 million in Shelter Afrique, a Development Finance Institution investing in affordable housing for Africa. It is owned by 44 African countries, together with the African Development Bank and African Reinsurance Corporation as shareholders. The Bank announced on February 14, 2017 that it is also arranging for an immediate loan of US $20 million to the company to consolidate the position of the housing specialist for 2017 and beyond.

“These new resources show that the African Development Bank is fully committed to the growth and development of Shelter Afrique, which plays a vital and unique role in the development of affordable housing across Africa. Affordable housing is a key issue at the heart of the High 5 priorities for our Bank, namely ‘Improve the quality of life for the people of Africa.’* At the same time, the African Development Bank takes issues of governance seriously. With the strong measures taken by Shelter Afrique to improve its governance and the support of its shareholders, the company can move to the next stage of its development,” said Gabriel Negatu, Director General at AfDB’s East Africa Regional Development and Business Delivery Office.

ZANTEL, BAKWATA INTRODUCE ‘ZANTEL MADRASA’ IN DAR

Zantel Chief Executive Officer Benoit Janin speaks during the launch of the network's new service dubbed 'Zantel Madrasa' in Dar es salaam today. The new service is launched in collaboration with BAKWATA to enable Muslim faithfuls to learn and receive Islamic teachings via their mobile phones. Looking on is Tanzania's Chief Mufti Aboubakar Zubeiry (centre) and BAKWATA's head of protocol Mohammed Nassor.

BAKWATA's Mufti Aboubakar Zubeiry speaks during the launch of the new service dubbed 'Zantel Madrasa' earlier in Dar es salaam today. The service can be accessed by Zantel network users and aims at enabling Muslim faithfuls to learn and receive Islamic teachings via their mobile phones. He is flanked by Zantel Chief Executive Officer Benoit Janin (centre) and Zantel's head of unit services and products Hamza Zuheri.

BAKWATA's Mufti Aboubakar Zubeiry and Zantel Chief Executive Officer Benoit Janin display fliers to signify the official launch of new service dubbed 'Zantel Madrasa' in Dar es salaam earlier today. The service is launched in collaboration with BAKWATA to enable Muslim faithfuls to learn and receive Islamic teachings via their mobile phones.

• Muslim faithfuls to now learn Islam via mobile phones

16^th February 2017, Dar es Salaam – Zantel in collaboration with BAKWATA has launched a new service dubbed ‘Zantel Madrasa’ that will enable Muslim faithfuls to learn and receive Islamic teachings via their mobile phones.

The service will also include a number of items like:-Hadith, Quran, Duah and other services that can be accessed via call (IVR/SMS/Mobile App and BAKWATA News.

Speaking during the launch of the new service in Dar es Salaam, Zantel Chief Executive Officer Benoit Janin said “We are very happy to launch ‘Zantel Madrasa’, a service that will connect a number of Muslims across the country and help them gain more knowledge about the religion in a very simplified manner.

BARCLAYS OPENS NEW BRANCH IN MOROGORO

Barclays Bank Tanzania acting Chairman Simon Mponji (right) opens a curtain to inaugurate the bank’s Morogoro Branch, located 200 kilometres from Dar es Salaam, at the weekend. Looking on from left are Barclays Tanzania managing director Abdi Mohamed and Barclays board member Dr Suleman Mohamed. PHOTO | COURTESY OF BARCLAYS.

In Summary

Going by the 2013 Finscope survey, it is only 13.9 per cent of adult Tanzanians who have accounts with various commercial banks while a majority of the population depends on non-bank formal financial services including mobile phone money facilities.

Morogoro. Barclays Bank Tanzania has opened a new branch at NHC Building in Morogoro as it brings its services closer to the people and get an increased share of the unbanked population of the country.

Going by the 2013 Finscope survey, it is only 13.9 per cent of adult Tanzanians who have accounts with various commercial banks while a majority of the population depends on non-bank formal financial services including mobile phone money facilities.

But armed with Sh32 billion in recent recapitalization, Barclays Bank Tanzania believes it has what it takes to expand and reach some of the unbanked segments of the population.