TTCL TO INJECT SH40 BILLION IN ‘HOME’ INTERNET ROLLOUT

TTCL Chief Executive Officer, Waziri Kindamba

Dar es Salaam. TTCL Corporation plans to invest over Sh40 billion in project to rollout its internet service across all major cities in the country, the company has said.

The corporation is currently rolling out its ‘Fiber Connect Bundle’ to clients’ houses in a three-month pilot project that started earlier this month (February), according to the corporation’s chief executive office, Mr Waziri Kindamba.

“This is one of our massive investment projects that are geared towards ensuring that we become a profitable entity,” he said.

DTB TO ISSUE LOANS IN 5 DAYS

A maximum of Sh500 million will be issued to an eligible applicant through DTB’s “Chakarika 2 Campaign”, according to bank’s chief executive officer Viju Cherian

Dar es Salaam. Diamond Trust Bank (DTB) Tanzania plans to issue credit to small and medium enterprises (SMEs) within five days as it launches a new promotional campaign.

A maximum of Sh500 million will be issued to an eligible applicant through DTB’s “Chakarika 2 Campaign”, according to bank’s chief executive officer Viju Cherian.

PRUDENTIAL CAPITAL MARKET UPDATE AS AT 28 FEB. 2018

PRUDENTIAL CAPITAL MARKET UPDATE AS AT 27 FEB. 2018

FAIR COMPETITION COMMISSION NOTICE - IN THE MATTER OF THE NOTIFICATION OF A MERGER BY BANK OF AFRICA GROUP S.A. TO ACQUIRE SHARES IN BANK OF AFRICA TANZANIA LTD

TANZANIA INTERNET USERS HIT 23 MILLION; 82 PER CENT GO ONLINE VIA PHONES

A person browsing on the internet. The number of internet users in Tanzania rose by 16 per cent at the end of 2017 to 23 million, with the majority of those using their handsets to go online.

The number of internet users in Tanzania rose by 16 per cent at the end of 2017 to 23 million, with the majority of those using their handsets to go online, the telecom industry regulator has said.

Mobile phone use has surged in Tanzania and other African countries over the past decade, helped by the launch of cheaper smartphones and data services.

Around 19 million internet users in Tanzania accessed the world wide web last year through their mobile phones, up from 18 million in 2016, the state-run Tanzania Communications Regulatory Authority (TCRA) said in a report.

Internet penetration in the nation of around 52 million people ticked up to 45 per cent in 2017 from 40 per cent a year before, according to the regulator.

Tanzania, the region’s third-biggest economy, had 40.08 million mobile phone subscribers last year, down slightly from 40.17 million a year earlier.

USERS TO BUY GOOGLE APPS THROUGH M-PESA

A Safaricom customer uses M-Pesa to make a transaction. Online purchase of mobile phone applications using the M-Pesa platform will make up for the low usage of credit cards in East Africa for online transactions.

Technology giant Google has enabled M-Pesa Express on the Google Play Store, allowing payments for apps via mobile money instead of credit cards.

The move, a first in the world, will now make it easier for people with access to M-Pesa to make purchases on Google.

Most smartphone owners in the region are reluctant to buy items online because they lack credit cards.

Data from the Central Bank of Kenya shows that credit card transactions stood at 130,372 as at December last year.

The M-Pesa Express payment option has been available to users since Monday and it makes Google Play among a few global e-commerce sites that have adapted to using mobile money.

The lack of a widely accessible alternative payment option has remained a barrier for the region’s citizens looking to buy goods and services from e-commerce platforms that only accept card payments.

KENYA, TANZANIA AGREE TO SETTLE TRADE ROWS

East African Community presidents - South Sudan's Salva Kiir (in black hat), Uganda's Yoweri Museveni (in white shirt) and Kenya's Uhuru Kenyatta shaking hands with John Magufuli of Tanzania - enjoy a light moment in Kampala, Uganda on February 23, 2018.

President Uhuru Kenyatta and President John Pombe Magufuli have directed their ministers to meet quickly to resolve “small vexing” differences between Kenya and Tanzania.

The two met at Lake Victoria Resort of Munyonyo in the outskirts of the Ugandan capital Kampala on Friday, on the margins of a summit of the East African Community.

Kenya and Tanzania have been at odds over various trade and bilateral issues.

However, President Magufuli affirmed that as leaders, he and President Kenyatta had no issues.

“We only have small issues relating to businesses and traders between Kenya and Tanzania. We want ministers from the two countries to meet urgently and resolve these issues,” President Magufuli said.

Urgent attention

“These are small matters that should be resolved quickly. As leaders, we don’t have a problem. We are okay,” he added.

TOUGH TIMES AHEAD AS VODAFONE FILES FOR BANKRUPTCY IN UGANDA

Vodafone Uganda has filed a petition for insolvency as it attempt to revive its business.

British telco Vodafone’s two-year attempt to break into the competitive Ugandan market has proved difficult, and pushed the firm to court to seek bankruptcy protection.

The High Court Civil Division in Kampala issued a protective order on February 15, enabling the ailing company to explore options for business recovery. The same order confirmed the appointment of Donald Nyakairu as the company’s provisional administrator.

Vodafone Group Plc is one of the world’s leading telecommunications groups, with a significant presence in Europe, the Middle East, Africa and Asia-Pacific through the company’s subsidiaries, joint ventures, associated undertakings and investments.

In Kenya, the company last year sold the bulk of its stake in Safaricom to its majority-owned South African subsidiary, Vodacom Group Plc.

BARCLAYS OFFERS A CORPORATE PAYROLL SOLUTION THROUGH ITS NEW PREPAID CARD

Barclays Bank Tanzania Product Development Manager - Retail and Business Banking, Erica Mwaipopo (right) and the Bank’s Marketing and Corporate Relations Executive, Nasikiwa Berya (left), display a dummy of the just launched Barclays prepaid card at a function held in Dar es Salaam yesterday.​ The card offers solutions for Corporate payroll.

26 February, 2018, Dar es Salaam – Barclays Bank Tanzania Corporate clients can now eliminate the hassle of making cash payments to their employees through the Barclays Prepaid Card Corporate payroll solution.

Speaking during the announcement, the Barclays Product Development Manager – Retail and Business Banking, Erica Mwaipopo said “This new product will enable employers to pay their employees (who don’t even need a bank account) their salaries/wages, expenses and allowances. Furthermore, the card can be used like a normal Visa debit card allowing the employees to use it to pay for shopping, meals and hotel stays, or to withdraw cash from ATMs”.

In recent years, Barclays was awarded the VISA Agile Award which recognizes the best acquiring bank in Tanzania. The award showcases the bank’s commitment to providing card payment solutions for all Tanzanian’s.

VACANCY ANNOUNCEMENTS AT NATIONAL BANK OF COMMERCE (NBC)

PRUDENTIAL CAPITAL MARKET UPDATE AS AT 26 FEB. 2018

PAN AFRICAN ENERGY TANZANIA RESPONDS TO COMMENTS MADE BY THE ACTING MANAGING DIRECTOR OF TANZANIA PETROLEUM DEVELOPMENT CORPORATION

MPANGO GRACES LAUNCH OF ECONOMISTS SOCIETY

Minister for Finance and Planning Dr Philip Mpango speaks during a meeting with private sector stakeholders recently.

Dar es Salaam. The Economic Society of Tanzania (EST) has been reminded that economists have a huge role to play in order to keep country’s economy stable.

The minister for Finance and Planning, Dr Philip Mpango made this remark on Friday last week when launching the society.

He said EST will bring together members and affiliates of the economics profession in academic research institutes, the public and private sectors, and provide a platform for discussions on issues that may help the country’s economy.

“If macro economics are not treated appropriately, they could bring adverse effects, therefore the economists should ensure that inflation rates remain at single digit, shilling and economy remain stable,” he said

MAGUFULI, UHURU KEEN ON ENDING TRADE DISPUTE

Dar es Salaam. President John Magufuli and his Kenyan counterpart Uhuru Kenyatta have instructed their ministers to work on the challenges that sparked a trade war between the two neighbours.

The Heads of States issued the directive after their talks in Kampala last week.

They were attending the East African Community (EAC) Heads of State summit in Uganda.

According to a statement by the Presidential Directorate of Communications, Dr Magufuli and Mr Kenyatta said they were committed to having all the trade barriers between Kenya and Tanzania removed in the greater interest of their nations.

“There are some minor issues that emerge in between, and we need the ministers to urgently address them.

These minor issues don’t have to reach our offices,” President Magufuli said.

CRDB BANK PLC BOARD MEMBER VACANCIES

BENKI YA CRDB YAZINDUA TEMBOCARD CREDIT CARDS

Mkurugenzi Mtendaji wa Benki ya CRDB akionyesha kadi mpya za TemboCard World Reward na Tembocard Gold Credit zilizozinduliwa February 21, 2018 makao makuu ya Benki hiyo jijini Dar es Salaam.

Mkurugenzi Mtendaji wa Benki ya CRDB, Dkt. Charles Kimei (katikati) akizungumza wakati wa uzinduzi wa kadi mpya (TemboCard Word Rewards na TemboCard Gold Credit) uliofanyika makao makuu ya Benki hiyo jijini Dar es Salaam, Februari 21, 2018. Kushoto ni Mkurugenzi wa Huduma Mbadala wa Benki ya CRDB, Philip Alfred na kulia ni Mkurugenzi wa Masoko wa Benki ya CRDB Tully Mwambapa.

Dar Es Salaam Tanzania, February 21, 2018 – Benki ya CRDB kwa kushirikiana MasterCard International wamezindua rasmi kadi mbili zenye mfumo wa “Credit-Card” zijulikanazo kama “TemboCard World Rewards na TemboCard Gold Credit-Card, katika hafla iliyofanyika Makao makuu ya Benki hiyo.

Akizungumza katika uzinduzi huo Mkurugenzi Mtendaji wa Benki ya CRDB Dkt. Charles Kimei alisema kadi hizo zenye mfumo wa “Credit-Card” ni za kwanza kuingizwa sokoni na Benki ya CRDB. “Credit-Card ni mfumo maalum wa kadi za kibenki ambapo mteja anaweza kutumia kadi yake kufanya manunuzi au malipo kwa kiwango cha fedha zaidi ya zile alizonazo kwenye akaunti yake” alisema Dkt. Kimei.

Akizungumzia juu ya faida ya kadi hizo Dkt. Kimei alisema zinamuongezea mteja uwezo wa kufanya manunuzi pasipo kuwa na wasiwasi wakutokuwa na fedha za kutosha katika akaunti yake. “Kadi hizi zitamuwezesha mteja kupata mkopo wa muda mfupi na hivyo kumuwezesha kutimiza malengo yake” alisema Dkt. Kimei

Dkt. Kimei alisema TemboCard World Rewards ni maalum kwa ajili ya wateja wakubwa, ambapo mteja atapata mkopo wa hadi shilingi milioni 50, huku muda wa kurudisha mkopo ukifika hadi siku 50. TemboCard Gold Credit Card yenyewe ni maalum kwa ajili ya wateja wa kati na wajasiriamali, ambapo mkopo wao unaenda hadi shilingi milioni 20, na muda wa kurudisha mkopo ukiwa ni siku 45.

CRDB BANK TO PROVIDE LOANS TO CUSTOMERS USING TEMBOCARD

CRDB Bank Managing Director, Dr Charles Kimei displays the newly introduced credit cards.

CRDB Bank’s TemboCard has broken its own record and become the first credit card in the country's history.

TemboCard, introduced 16 years ago as a debit card to facilitate financial inclusion while reducing queuing for bank service, has been upgraded to credit facility that can advance interest-free loan of up to 50m/-.

The Bank Managing Director, Dr Charles Kimei, said they teamed up with MasterCard International to launch the first credit card to enable customers to borrow money hassle free.

“This is a truly credit card in the country. The credit attracts no interest for the first 30 days," he told reporters in Dar es Salaam recently, adding the 30 days would be a grace period and after that it will attract an interest of five per cent,” Dr Kimei told journalists. The credit card comes in two platforms namely TemboCard World Rewards and Tembo- Card Gold Credit card.

However a customer can have both debit and credit cards. The Gold Card enables customer to get the loans of up to 30m/- while World Reward goes up 50m/-. However, not all customers who are eligible to have the credit card will have the maximum limit. Other will fall as low as 1.0m/- depending on customer’s behaviour. “The limit to borrow depends a lot on the customer account behaviour analysis,” Dr Kimei said.

IN "TOUGH BUT HOPEFUL" BUDGET, SOUTH AFRICA RAISES VAT FOR THE FIRST TIME IN 25 YEARS

* VAT to rise to 15 pct from 14 pct

* GDP growth seen picking up in next 3 years

* Ramaphosa faces uphill task to revive economy

* But opposition says budget is an assault on the poor (Adds Gigaba interview)

CAPE TOWN, Feb 21 (Reuters) - South Africa’s new leadership announced on Wednesday it was taking the politically risky step of raising value-added tax for the first time in 25 years, part of efforts to cut the deficit and stabilise debt under new President Cyril Ramaphosa.

The government of Africa’s most industrialised country has to plug a revenue hole in its budget and repair its economy after nine years of mismanagement under the scandal-plagued Jacob Zuma.

The move to raise VAT to 15 percent from 14 starting in April is expected to generate an additional 23 billion rand ($2 billion) of revenue in 2018/19.

But with the VAT rate unchanged since 1993 the move was likely to prove unpopular ahead of a national election next year.

“This is a tough, but hopeful budget,” Finance Minister Malusi Gigaba said, acknowledging the reality in his budget speech to parliament on Wednesday.

TAARIFA KWA UMMA KUTOKA BENKI KUU YA TANZANIA

MAGUFULI'S DOS AND DONT'S TIPS... STRESSES JUDICIOUS FINANCIAL EXPENDITURE, CAUTIONS ON DONOR DEPENDENCY

President John Magufuli yesterday volunteered tips to fellow East African Heads of State, saying unless governments in the region cultivated a judicious financial expenditure culture, donor dependency would never end.

Speaking during the 19th EAC Heads of State summit and retreat in the Ugandan capital Kampala, he outlined key factors that should be borne in mind for the best way forward, and to avoid being taken for a ride.

Execution of infrastructure development projects and health sector financing by the bloc, were among areas on which he lay much emphasis. The President said the governments must craft good strategies for effective revenue collection, and ensure that every cent was spent judiciously.

He advised stakeholders in the EAC integration project, including the Secretariat and leaders, to focus more attention on results oriented actions instead of wasting much valuable time at political platforms.

Citing experiences from the home front, he explained that effective revenue collection strategies had enabled the government to raise funds for the execution of various projects, including the Standard Gauge Railway (SGR) from Dar es Salaam to Mwanza and the Stiegler’s Gorge power generation plant. “I already have the funds for Stiegler’s power project.

PRUDENTIAL CAPITAL MARKET UPDATE AS AT 23 FEB. 2018

TELECOMS MARKET POSITIONS REMAIN UNCHANGED

TELECOM shares in market remain largely unchanged in the second half of last year, as seven mobile operators continued to scramble for a share from 40 million subscribers, according to Tanzania Communications Regulatory Authority (TCRA) data.

The TCRA statistics for the last quarter of 2017 showed Vodacom remained Tanzania's largest mobile operator with 32 per cent of market share from its 12,866,059 subscribers as at December, last year.

Vodacom's mobile money service, M-Pesa continued to lead in the market with 37 per cent share from 8,085,684 users. It is trailed by Tigo as the second largest mobile operator holding 28 per cent of the market share from its 11,062,852 subscribers.

Tigo mobile money service ranks second in market with 31 per cent share from 6,863,349 users. Airtel is the third largest operator with a market share of 27 per cent from 10,855,955 subscribers.

HALOPESA SUBSCRIBERS DOUBLE IN THREE MONTHS

Halotel Tanzania Public Limited Company put on a spirited growth momentum during the last quarter of 2017 to grasp a double-digit market share, latest figures show.

Latest figures, published by Tanzania Communications Regulatory Authority (TCRA), show that Halotel’s voice subscriber numbers notched nearly 4 million as of December 2017 in a competitive market where seven players scrambled for a share of 40 million Subscriber Identification Module (SIM) cards.

That was a comfortable leap from 3.7 subscribers that the two-year old telecommunication firm held as of September 2017.

With the 3.8 million subscribers, Halotel’s market share reached a double-digit level of 10 per cent from nine per cent in 2017.

This means that the two-year old company has been able to leapfrog some of the players who have been in the market for over ten years.

Similarly, the company managed to raise its share of mobile money to four per cent during the last quarter of 2017, jumping from a mere two per cent as of September 2017.

It had a total of 1 Million subscribers on its Halo Pesa platform, up from six hundred thousand active subscribers in January this year.

ETIHAD AIRWAYS ADDS SECOND DAILY FLIGHT TO ROME

Etihad Airways Cabin Crew.

Abu Dhabi, UNITED ARAB EMIRATES – Etihad Airways, the national airline of the United Arab Emirates (UAE), today announced the addition of a second daily direct flight from its Abu Dhabi hub to Rome, effective 25 March 2018. The new service will take the total number of Etihad Airways’ flights on the route to 14 a week.

The additional frequencies will be introduced in phases, beginning 25 March 2018, with five extra weekly flights, rising to a twice-a-day service from 1 May 2018.

The double-daily schedule will provide greater choice to local passengers travelling between the capital cities of the UAE and Italy, and further increase connectivity to and from both countries.

The new early morning departure from Abu Dhabi and midday return service from Rome will offer links to popular cities across Australia, China, Japan and Korea.

PRESIDENT JOHN MAGUFULI LANDS IN UGANDA FOR EAC HEADS OF STATE MEETING

President Yoweri Museveni of Uganda welcomes his Tanzanian counterpart, President John Magufuli, shortly after his arrival at Entebbe State House in Uganda on Wednesday.

President John Magufuli arrived in Uganda on Wednesday ahead of the 19th East African Community (EAC) Heads of State meeting.

The Head of State met his Ugandan counterpart, Yoweri Museveni who is also the EAC Chairperson at the Entebbe State House.

According to a statement released by the Directorate of Presidential Communications, the 19th EAC Summit is scheduled to take place tomorrow in Kampala, Uganda.

At Entebbe International Airport, Dr Magufuli was received by Uganda Minister for Foreign Affairs Sam Kutesa.

He later headed to State House where he met his host, President Museveni.

RAIS WA JAMHURI YA MUUNGANO WA TANZANIA MHE. DKT. MAGUFULI AHUDHURIA MKUTANO MAALUM WA WAKUU WA NCHI ZA JUMUIYA YA AFRIKA MASHARIKI (EAC) UNAOFANYIKA KAMPALA NCHINI UGANDA. FEBRUARI 22, 2018.

Rais wa Jamhuri ya Muungano wa Tanzania Dkt. John Pombe Magufuli akihutubia katika Mkutano Maalum wa Wakuu wa nchi za Jumuiya ya Afrika Mashariki (EAC) unaofanyika Kampala nchini Uganda. Februari 22, 2018. 

Rais wa Jamhuri ya Muungano wa Tanzania Dkt. John Pombe Magufuli akiwa amesimama pamoja na Mwenyekiti wa Jumuiya ya Afrika Mashariki Rais wa Uganda Yoweri Museveni wa nne kutoka kulia, Rais wa Kenya Uhuru Kenyatta pamoja na Rais wa Sudani ya Kusini Salva Kiir wakati Wimbo wa Jumuiya ya Afrika Mashariki ulipokuwa ukipigwa katika ukumbi wa mkutano uliopo katika eneo la Munyonyo Kampala nchini Uganda. Februari 22, 2018.

Rais wa Jamhuri ya Muungano wa Tanzania Dkt. John Pombe Magufuli akiwa amekaa pamoja na Mwenyekiti wa Jumuiya ya Afrika Mashariki Rais wa Uganda Yoweri Museveni wanne kutoka kulia, Rais wa Kenya Uhuru Kenyatta pamoja na Rais wa Sudani ya Kusini Salva Kiir wakati wa mkutano huo Maalumu wa Wakuu wa nchi za Jumuiya ya Afrika Mashariki unao endelea jijini Kampala. Februari 22,2018.

Mwenyekiti wa Jumuiya ya Afrika Mashariki Rais wa Uganda Yoweri Museveni akifungua Mkutano huo maalum wa Wakuu wa nchi za Jumuiya ya Afrika Mashariki Kampala nchini Uganda. Februari 22, 2018.

Mwenyekiti wa Jumuiya ya Afrika Mashariki Rais wa Uganda Yoweri Museveni katika picha na Rais wa Jamhuri ya Muungano wa Tanzania Dkt. John Pombe Magufuli, Rais wa Kenya Uhuru Kenyatta, pamoja na Rais wa Sudan ya Kusini Salva Kiir mara baada ya Mkutano Maalum wa 19 wa Jumuiya hiyo uliofanyika Kampala nchini Uganda. Februari 22, 2018. 

Rais wa Jamhuri ya Muungano wa Tanzania Dkt. John Pombe Magufuli akisalimiana na Rais wa Sudan ya Kusini Salva Kiir kabla ya kuanza kwa mkutano wa Jumuiya ya Afrika Mashariki. Februari 22, 2018.

Rais wa Jamhuri ya Muungano wa Tanzania Dkt. John Pombe Magufuli akifurahia jambo na Rais wa Kenya Uhuru Kenyatta mara baada ya kupiga picha ya pamoja katika eneo la Munyonyo Kampala nchini Uganda. Februari 22, 2018.

BOFYA HAPA KWA PICHA ZAIDI

RAIS WA JAMHURI YA MUUNGANO WA TANZANIA MHE. DKT. JOHN POMBE MAGUFULI AWASILI NCHINI UGANDA NA KUFANYA MAZUNGUMZO NA MWENYEJI WAKE RAIS WA UGANDA YOWERI MUSEVENI KATIKA IKULU YA ENTEBBE NCHINI UGANDA. FEBRUARI 21, 2018.

Rais wa Jamhuri ya Muungano wa Tanzania Mheshimiwa Dkt. John Pombe Magufuli akisalimiana na mwenyeji wake Rais wa Uganda Mheshimiwa Yoweri Museveni mara baada ya kuwasili katika Ikulu ya Entebbe nchini Uganda. Februari 21, 2018.

Rais wa Jamhuri ya Muungano wa Tanzania Mheshimiwa Dkt. John Pombe Magufuli akiwa katika picha ya pamoja na mwenyeji wake Rais wa Uganda Mheshimiwa Yoweri Museveni mara baada ya kuwasili katika Ikulu ya Entebbe nchini Uganda. Februari 21, 2018. 

Rais wa Jamhuri ya Muungano wa Tanzania Mheshimiwa Dkt. John Pombe Magufuli akiwasili katika Uwanja wa Ndege wa Entebbe nchini Uganda ambapo pamoja na mambo mengine atahudhuria vikao vya Wakuu wa nchi za Jumuiya ya Afrika Mashariki vitakavyoanza kesho jijini Kampala nchini Uganda. Februari 21, 2018.

Rais wa Jamhuri ya Muungano wa Tanzania Mheshimiwa Dkt. John Pombe Magufuli akiwa na ujumbe wake katika Mazungumzo na Rais wa Uganda Mheshimiwa Yoweri Museveni katika Ikulu ya Entebbe nchini Uganda. Februari 21, 2018.

BOFYA HAPA KWA PICHA ZAIDI

FIRST NATIONAL BANK HOSTS ANNUAL ECONOMIC FORUM

First National Bank Tanzania Chief Executive Officer, Warren Adams speaks to invited guests in Dar es salaam during its annual economic breakfast meeting on Economic and Financial Markets Outlook for Tanzania. 

The event moderator, Neville Mandimika, Africa Analyst at Rand Merchant Bank of South Africa speaks during the annual economic breakfast meeting, which brought together stakeholders from various sectors. The event that was hosted by First National Bank Tanzania.

22 January 2018, Dar es Salaam - First National Bank Tanzania held its annual economic breakfast meeting in Tanzania today bringing together stakeholders from various sectors. Themed “Economic and Financial Market outlook for Tanzania in 2018 and Beyond” the forum has predicted a solid economic growth for Tanzania in 2018 and 2019.

The event moderator Neville Mandimika, Africa Analyst at Rand Merchant Bank of South Africa said Tanzania is one of the 10 fastest growing economies in sub Saharan Africa that are expected to have solid economic growth driven by agriculture, construction and consumer sectors.

The projected growth is attributed to continued easing of monetary policies, fiscal reforms, adding that economic growth continues to mend while dependence on external funding continues to remain low. “The ongoing fiscal reforms are expected to increase revenue and help Tanzania to finance and solidify economic growth,” he said.

Mandimika said Tanzania is making its way forward in the face of changes in the regulatory developments such as the banning of coal imports, mandatory requirement for foreign firms to list shares at the Dar es salaam Stock Exchange, ban of unprocessed mineral exports and review of existing contracts.

CRDB UPGRADES TEMBOCARD TO CREDIT CARD

Dar es Salaam. CRDB Bank has upgraded its TemboCard into a credit facility that can be used to advance a loan of up to Sh50 million.

The bank introduced its TemboCard system 16 years ago.

The bank’s managing director, Dr Charles Kimei, said in Dar es Salaam on Wednesday that CRDB cooperated with MasterCard International to launch the credit card that will enable customers to borrow virtually hassle-free.

“This is truly Tanzania’s credit card. It attracts no interest for the first 30 days… Should the credit cross the grace period, it will start attracting an interest of five per cent from the 31st day from when the credit was taken,” Dr Kimei explained.

In fact, the bank has launched two types of credit cards: the ‘TemboCard World Rewards,’ and the TemboCard Gold Credit card. The former allows the holder to take a credit of up to Sh50 million, while credit on the latter has a ceiling of Sh30 million.

Customers are free to go for both types – depending on their financial position and needs.

MADEREVA DAR WAFURAHIA KUJIUNGA TAXIFY

Bajaji ni usafiri rahisi unaoweza kutumiwa na watu wenye vipato vya aina zote duniani.

Sababu kubwa ya usafiri huu kutumiwa na watu wengi ni gharama zake kuonekana kuwa ndogo na humpatia mtumiaji urahisi wa kufika sehemu anayoihitaji kwa haraka tofauti na gari.

Licha ya kuwa watu wengi wanaogopa kuzitumia kutokana na sababu za kiusalama na uendeshaji wa madereva wanavyo jipenyeza katikati ya magari kwenye barabara kubwa, lakini ni msaada mkubwa kwa wakazi waishio Jijini Dar es Salaam, jiji lenye msongamano mkubwa wa magari.

Kadhia hiyo ndiyo imeufanya usafiri huo kuwa maarufu kwa watu wengi na wa rika zote hasa wanapopata dharula, hulazimika kuacha usafiri wao au usafiri wa umma ili waweze kufika kwa haraka sehemu wanazohitajika.

Changamoto hiyo ya foleni imetumiwa kama fursa kwa Kampuni ya Taxify ambayo imezindua huduma mpya ya ‘Taxify Bajaji’ kwa lengo la kuwarahisishia wakazi wa Jiji la Dar es salaam kufurahia huduma za usafirishaji wa gharama nafuu na haraka.

TRA ACCUSED OF BEING SLACK

In Summary

The Kenya Revenue Authority (KRA) said on Wednesday that it had intercepted 32,255.50 grammes of gold bars worth KSh100 million (Sh2 billion) at the Jomo Kenyatta International Airport in Nairobi.

Dar es Salaam. The seizure yesterday by Kenyan authorities of undeclared gold from Tanzania whose value was estimated at Sh2 billion has raised concerns over the continued laxity in mineral export processes in Tanzania, thus exposing Customs.

The Kenya Revenue Authority (KRA) said on Wednesday that it had intercepted 32,255.50 grammes of gold bars worth KSh100 million (Sh2 billion) at the Jomo Kenyatta International Airport in Nairobi.

The consignment was being transported to Dubai, and a Tanzanian national, whose identity was not revealed immediately, was arrested over the matter.

“The suspect was intercepted following an intelligence alert.

He arrived at JKIA at 1505hrs on Friday, February 16, on-board PrecisionAir from Mwanza via Kilimanjaro International Airport (KIA), heading for Dubai aboard a Kenya Airways flight,” a statement issued yesterday by the KRA said.

PRUDENTIAL CAPITAL MARKET UPDATE AS AT 22 FEB. 2018

REAL ESTATE INVESTMENT - EMPOWERING YOUNG PEOPLE TO CLIMB THE HOUSING LADDER

By Dr. Fred Msemwa

Empowering the people to have access and ultimately own decent homes ought to be a business, not only for those entrusted with developing housing policies, but also prospective home buyers and other key stakeholders including developers, municipals and other parties involved in the housing ecosystems.

Some countries have gone further and have solid plans to help their people to access and ultimately own decent housing. As it is the case for all dreams, individuals and even nations must have goals that will make them perform activities and initiatives that slowly and day by day make them realise their dreams.

Helping the younger generation to have access to decent homes and making them start climbing the housing ladder need to be a business of both the youngsters themselves and relevant property market players. Ideally, the business of providing affordable homes is not and should not be a charitable undertaking.

To simplify this argument, let us start by exploring the rationale for helping the younger generation to enter and start climbing the housing ladder-according to the English dictionary, a housing ladder refers to a series of stages in owning a house, which one starts by buying a smaller house or an apartment and then lives in it for sometime given the income bracket at that time and then buys a bigger or more expensive house when there is enough money and need to do so.

SAUDI WOMEN NO LONGER NEED MALE PERMISSION TO START BUSINESS

A major step of granting women in Saudi Arabia the right start their own businesses without the approval of a male relative has been announced by the kingdom’s Ministry of Commerce and Investment.

“No need for a guardian’s permission. Saudi women are free to start their own business freely,” the ministry’s spokesperson Abdul Rahman Al-Hussein tweeted. He also used a hashtag which translates from Arabic as “No Need.”

Women in Saudi Arabia have traditionally been banned from working outside the home but rules have been relaxed in recent years. To start their own businesses, travel or enroll in classes, they had to ask permission from a male “guardian” – a husband, father or brother.

Hiring women is now a key part of Saudi Arabia's plan to overhaul the oil-dependent economy, known as Vision 2030. The reform also aims to raise the proportion of Saudi women that are active in the workforce from 22 percent to 30 percent. Female unemployment in the kingdom stands at around 33 percent, compared to an overall rate of 12 percent.

SOUTH AFRICA'S RAMAPHOSA TO SCREEN OFFICIALS' LIFESTYLES AS HE PICKS GOVERNMENT

South African President Cyril Ramaphosa speaks in parliament in Cape Town, South Africa, February 20, 2018.

CAPE TOWN (Reuters) - South Africa’s new President Cyril Ramaphosa, acting on a pledge to fight corruption, said on Tuesday he planned to screen the lifestyles of future government officials as he mulled the make-up of a new cabinet.

Ramaphosa, who was sworn in on Thursday after his scandal-plagued predecessor, Jacob Zuma, reluctantly resigned, told parliament he was working on a new government team and would announce changes at a later date.

It was not clear whether this heralded a purge of Zuma cronies from the cabinet.

Speculation though mounted about whether Finance Minister Malusi Gigaba would keep his job - something of interest for investors eying fresh opportunity with Zuma’s departure - though Gigaba was slated to deliver a key budget speech on Wednesday.

Zuma resigned on orders of the ruling African National Congress (ANC) after nine years in office blighted by corruption, economic mismanagement and disputed appointments which have badly hurt Africa’s most industrialized economy.

KONGAMANO LA WADAU WA SEKTA BINAFSI KUHUSU FURSA ZA KIBIASHARA ZILIZOPO KWENYE MRADI WA BOMBA LA MAFUTA

Baraza la Taifa la Uwezeshaji Wananchi Kiuchumi (NEEC) linatarajia kuendesha kongamano la Kitaifa ili kunadi fursa za kibiashara zilizopo katika mradi wa ujenzi wa bomba la mafuta kutoka Hoima nchini Uganda hadi Mkoani Tanga.

Kongamano hilo litashirikisha wadau mbalimbali kutoka taasisi za umma na sekta binafsi linatarajiwa kufanyika Februali 23 mwaka huu katika ukumbi wa Benki kuu ya Tanzania uliopo jijini Dar es salaam.

Katika tukio hilo, mgeni rasmi atakuwa Waziri wa Nchi ofisi ya Waziri Mkuu, Sera, Bunge, Kazi, Vijana na Watu wenye Ulemavu Mheshimiwa Jenista Mhagama(MB).

Lengo la kufanyika kwa Kongamano hilo ni kujadiliana na makampuni binafsi ya Watanzania kuhusiana na fursa za kibiashara zitakazotolewa kwenye mradi wa bomba la mafuta sambamba na kupeana maarifa ya kupata zabuni ili kuunga mkono maendeleo ya Taifa kwa ujumla wake.

Wakati wa majadiliano kutakuwepo na wawasilisha mada kutoka Baraza la Taifa la Uwezeshaji Wananchi Kiuchumi(NEEC),Wizara ya Nishati na Madini,Mamlaka ya udhibiti wa huduma za nishati na maji (EWURA),Shirika la Viwango Tanzania (TBS),Mamlaka ya Bima (TIRA) na wawakilishi wa wawekezaji wa mradi wa Bomba la Mafuta.

Mradi wa Bomba la Mafuta hapa nchini unatarajiwa kufungua fursa mbambali za Kiuchumi kwa makampuni ya Watanzania ambao watanufaika na zabuni zitakazotolewa wakati wa ujenzi wa bomba hilo.

Mapendekezo ya kufanyika kwa kongamano hili yanaangazia ushirikishwaji wa wananchi katika miradi mikubwa ya maendeleo na kuwaonyesha fursa wanazoweza kunufaika nazo. 

SPECIAL BODY TO OVERSEE ENVISIONED VAST BEACH INVESTMENTS

Prime Minister, Kassim Majaliwa.

Mwanza - The government plans introducing special authority to oversee tangible investments in all beach areas countrywide.

Prime Minister Kassim Majaliwa said here on Tuesday that the envisaged body will ensure that regions with beaches use them to attract tourists for forex earnings and economic gains. “I have already instructed the Ministry of Natural Resources and Tourism to start preparations to establish this important authority to oversee investments and sustainable development of our beaches and rivers for tourism purposes,” said the Premier.

Addressing civil servants of Nyamagana and Ilemela municipalities, Mr Majaliwa challenged employees in the public sector to work hard to help the government to achieve its goal to bring development to the people.

Unlike other districts where the premier was compelled to institute disciplinary measures against public servants over misbehaviours and indiscipline, scandal free Nyamagana and Ilemela municipal officers were commended for doing their jobs well. Mr Majaliwa said Mwanza City still had a long way to go to accomplish the government’s ambitious programmes, citing the state backed industrialisation drive and land formalisation, among others. He ordered formation of land registries in every municipality to guarantee availability of reliable statistics and boost revenue collection.

COURT SUMMONS BRITON OVER CONTROVERSIAL TIGO SHARE SALE

The Court of Appeal has summoned a Briton, James Russell Bell to the hearing of application on controversial sale of MIC Tanzania Limited’s 13bn/- shares to Golden Globe International Services Limited.

There are claims of forgery in the sale transaction of the 34,479 shares and the court warned in its notice yesterday that if James Bell will not show up to the hearing session on March 6, the application for revision will be heard and decided exparte, in his absence.

“If no appearance is made on your behalf, by yourself, your pleaders or by someone by law authorised to act for you in this revision, it will be heard and decided exparte,” reads the notice signed by Court of Appeal Deputy Registrar Eddie Fussi.

According to the notice, the purpose of the hearing of the application called on court’s “suo mottu” (own motion) is to examine the correctness, legality or propriety of the proceedings, judgment and decree issued by the High Court’s District Registrar Pamela Mazengo on November 10 and 13, 2014.

The applicant is Millicom (Tanzania) NV, while the respondents are Golden Globe International Services Limited, James Bell and Quality Group Limited. The application hearing follows the complaint by Millicom (Tanzania) NV to Chief Justice on case proceedings.

There have been claims regarding the transfer of Tigo shares, with Millicom (Tanzania) NV, a limited liability company registered under the laws of Curacao, claiming to be the majority shareholder of MIC Tanzania Limited, a company registered in the United Republic of Tanzania. The source of the dispute can be traced way back in 2002 when James Bell filed a Civil Case No. 306/2002 against MIC UFA Ltd, Millicom International Cellular SA and MIC Tanzania Limited. In the case, Millicom NV was not a party. The plaintiff in the proceedings managed to get a default judgment against MIC UFA Limited and Millicom International Cellular SA only in March 2005.