DStv YATOA SHUKRANI KWA WATEJA WAKE

Ndugu mteja tunapenda kutoa shukrani zetu za dhati kwa kuendelea kubaki nasi.

Katika kurudisha shukurani zetu tunaendelea na kampeni iitwayo Tupo Nawe.

Lipia kifurushi cha DStv sasa, na upandishwe cha juu yake bila malipo ya ziada, ambayo ni sawa na punguzo la 35%, ikiwa ni shukrani kutoka DStv kwako wewe Mteja Wetu!

#TupoNawe

GLOBAL FINANCE NAMES ECOBANK MOST INNOVATIVE BANK IN AFRICA

Lomé, Togo- May 26, 2020 - Global Finance has named Ecobank as the most innovative bank in Africa. The announcement was made at the eighth Global Finance annual awards, the Innovators 2020, honoring entities that regularly identify new paths and design new tools in finance. Categories in the award include Top Innovations in Corporate Finance, Payments, Trade Finance, Cash Management, Islamic Finance, with Winners selected from different regions of the world. The classes of award comprised Most Innovative Banks in Africa, Asia-Pacific, Central & Eastern Europe, Latin America, Middle East, North America and Western Europe; The Most Innovative Fintech Companies inAsia-Pacific, Central & Eastern Europe, North America and Western Europe; and The Best Financial Innovation Labs

At the virtual awards announcement, Anita Hawser, European Editor at Global Finance and Lead, Global Finance Awards evaluation team, noted that companies recognized at the Innovators 2020 significantly stood apart. She said the review panel looked at innovation in the context of product or process innovation, as they were ultimately more concerned with the impact of innovation in terms of creating value for customers or addressing a specific need, like speeding up lending or credit review process for small businesses; enabling companies to deposit cheques remotely and not having to visit the branches.

NATIONAL HEALTH INSURANCE FUND (NHIF) GOES DIGITAL

National Health Insurance Fund (NHIF) Director, General Bernard Konga.

Dar es Salaam, Thursday 28th May 2020 - The National Health Insurance Fund (NHIF) Director, General Bernard Konga has announced that the Fund is finalizing the digital payment system solution that will reduce the Medical Services Providers' settlement claims from 45 to 14 days.

Speaking at an online CRDB Bank webinar branded "Afya Forum," that brought together all key players of the Tanzania Health sector, Konga who is an economist by Profession, revealed that NHIF had embarked on a digital transformation journey that will not only exterminate the delayed payment agonies but also increase efficiency through timely payments and subsequently maximize customer satisfaction.

“We understand your concerns on delayed payments for insurance claims”, said Konga who was speaking from his office in Dodoma, when answering to a question from one of the participants. "Let me assure you that the Government is working tirelessly to get to the bottom of this setback. I am pleased to announce that we are finalizing an online claims settlement platform, that will allow us to reimburse all claims within ten to fourteen days," said Konga.

NHIF, which now caters for more than 4 million members, was established in year 2001 with the primary objective of ensuring that the majority of Tanzanians have access to health services through the provision of affordable and reliable health insurance services.

HABARI NJEMA KUTO BENKI YA NMB

COVID-19 AND SOCIALISING: HOW DIGITAL COMMUNICATIONS CAME TO THE RESCUE

COVID-19 has had a dramatic impact on people’s day-to-day lives, causing many social, travel and school disruptions.

One obvious change to everyday routines is social distancing, leading to restrictions on social gatherings and even halting people’s travel plans.

As such, it is likely that many people have tried to adapt their ways of socialising in an effort to stay connected while reducing in-person contact.

Fortunately, digital communications – such as video calls or social media – provide useful ways for staying connected during these times. Scheduling regular catch ups has provided many with a sense of normality and something to look forward to. During this time, Tanzania’s telcos have worked hard to support their customers who rely on digital communications to stay connected.

One such example is that of Tigo – one of the Tanzania’s main telecoms operators. Tigo’s Home Internet offers customers fast and reliable connectivity for all their internet needs.

STANBIC BANK TANZANIA ENTREPRENEURSHIP CHALLENGE

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CRDB BANK HEALTH SECTOR LOAN PORTFOLIO INCREASES TO TSHS 78 BILLION

CRDB Bank Managing Diretor, Abdulmajid Nsekela.

CRDB Bank has already dished out TShs. 78 billion in loans to the health sector in a bid to ease financial constraints and smoothen investments and operations of hospitals countrywide. The Bank has been issuing loans to the health sector for sometime and already over 100 hospitals have accesses over TShs. 78 billion to-date.

The Bank said during the first of its king Virtual Afya Forum that was attended by over 500 stakeholders online to talk and iron out financial issues in the health sector.

Opening the Forum, the Deputy Minister for Health, Dr. Godwin Mollel said the Bank's initiative eyed to address financial challenges and increase investments in the health sector in general.

Continue Reading >>>

WIKIENDI HII, DStv WANAKULETEA TAMASHA MAALUM LINALOTAMBULIKA KAMA COVID-19 HOPE FOR AFRICA

Wikiendi hii, DStv wanakuletea Tamasha maalum linalotambulika Kama COVID-19 Hope for Africa. 

Kipindi hiki ambacho Ulimwengu mzima unapitia Janga la COVID-19, DStv wamekuandalia Tamasha Maalum la matumaini litakalosindikizwa na wasanii mbali mbali kutoka Afrika yetu ikiwemo Tanzania ambapo muigizaji kutoka Tasnia ya Filamu Tanzania Wema Sepetu pamoja na Mwana Muziki Nandy ndio watakao tuwakilisha. 

Usipitwe na Tamasha hili litakalorushwa LIVE siku ya Jumapili saa 3 usiku, kupitia DStv pekee chaneli 154, Africa Magic Family inayopatikana kwenye kifurushi cha DStv Bomba TShs.19, 000 tu.

#OneAfricaGlobal and #HopeForAfrica

NMB BANK AND SAVINGS AT THE FRONTIER PARTNER UP TO OFFER DIGITAL TRANSACTION AND SAVING SOLUTION TO FINANCIALLY EXCLUDED GROUPS

NMB Bank has teamed up with Savings at the Frontier (SatF), a partnership between Mastercard Foundation and Oxford Policy Management, to introduce a unique financial inclusion model aimed at serving thousands of savings and loans groups in the country. Through the partnership, NMB and SatF aim to provide financial solutions to over 28,000 financially excluded groups across the country.

The newly introduced model allows groups and group members to use the bank’s digital advantage which gives them room to self-open group and individual accounts through their mobile phones, manage members’ activities without a physical visit to branches, safely and securely save their excess funds while taking advantage of the growing network of banking agents and mobile money integration.

The new model is an enhancement of the ‘NMB Pamoja Account’ which targets Village Savings and Loans Associations (VSLAs), Savings and Internal Lending Communities (SILC), Village Community Banks (VICOBA), Community Based Savings Groups (CBSG), Community Based Organizations (CBO), Family and Friends Groups, and links them to the bank with the widest branch network in the country.

NMB’s Acting Managing Director - Ruth Zaipuna (Left) and the Bank’s NMB Chief Retail Officer - Filbert Mponzi (Right) in a jovial mood moments after the official launch of NMB Pamoja Account. Others in the picture are Ms. Zaina Mikidadi (centre) a customer, (From left) the Bank’s Acting Chief Financial Officer - Benedicto Baragomwa, The Bank’s NMB Chief Wholesale Banking - Alfred Shao and the Bank’s NMB Acting Chief Human Resources Officer- Emmanuel Akonaay.

Speaking at the launch, The NMB Bank’s Acting Managing Director – Ruth Zaipuna said: “Our goal is to bridge the gap between the supply of formal financial services and informal savings groups by improving access to financial services. This is an enhancement of the current groups saving product named NMB Pamoja Account for affordable, convenient and easy to access banking services.”

Extending NMB’s commitment to financial inclusion, NMB Pamoja is fully integrated with the NMB Chap Chap account, allowing groups and members to seamlessly transfer funds between groups and individual accounts with zero fees. The platform, which is safer and more convenient, is allowing thousands of savings group members to access formal financial services for the first time.

Other features that increase simplicity and convenience include: being able to make contributions, check balances, view mini-statements, open a group account via USSD (*150*68#), all with no monthly maintenance fee or account operational fee as well as attractive annual interest rates.

BENKI YA NMB NA SATF ZAZINDUA UTOAJI WA HUDUMA ZA KIDIJITALI KWA VIKUNDI VYA KUWEKA NA KUKOPA

Kaimu Mkurugenzi Mtendaji wa Benki ya NMB, Ruth Zaipuna (kushoto) na Afisa Mkuu wa Wateja Binafsi na Biashara Ndogo na za Kati wa NMB, Filbert Mponzi (kulia) wakiwa wameshika alama ya uzinduzi rasmi wa akaunti ya NMB Pamoja. Katikati ni Mteja wa NMB Bi. Zaina Mikidadi, kutoka kushoto ni Kaimu Afisa Mkuu wa Fedha wa NMB, Benedicto Baragomwa, Afisa Mkuu wa Wateja Wakubwa wa Serikali wa NMB, Alfred Shao na Kaimu Afisa Mkuu Rasilimali Watu, Emmanuel Akonaay.

Benki ya NMB na kampuni ya Savings at the Frontier (SatF) wamezindua huduma mahsusi kwa vikundi vya kuweka na kukopa nchini. Kwa ushirikiano huo, NMB na SatF zinakusudia kuwafikia zaidi ya vikundi 28,000 na wanachama wake walio nje ya mfumo rasmi na kuwaunganisha kwenye huduma za kifedha.

Mfumo huo mpya utatoa nafasi kwa vikundi vya kuweka na kukopa pamoja na wanachama wao kutumia huduma za kidijitali za NMB zitakazowawezesha kufungua akaunti binafsi, kufungua akaunti za vikundi na kuweza kuzihudumia kupitia simu ya mkononi. Njia hii itawafanya wakidhi mahitaji ya wanachama bila kulazimika kukutana au kwenda tawi la benki na hivyo kutunza fedha kwa njia salama na ya uhakika.

Mfumo huu ni maboresho ya huduma ya ‘NMB Pamoja Account’ ambayo ni mahsusi kwa ajili ya Vyama vya Kuweka na Kukopa Vijijini (VSLA), Vyama vya Kijamii vya Akiba (SILC), Benki za Kijamii Vijijini (VICOBA), Vikundi vya Kijamii vya Akiba (CBSG), Mashirika ya Kijamii (CBO), Makundi ya Familia na Marafiki na kuyaunganisha na benki yenye mtandao mpana zaidi nchini.

Akizungumza kwenye uzinduzi wa NMB Pamoja Account, Kaimu Mkurugenzi wa Benki ya NMB, Ruth Zaipuna alisema: “Lengo letu ni kuziba pengo lililopo kati ya taasisi za fedha na makundi yasiyo rasmi ya kuweka akiba na kukopa kwa kuyasogezea huduma za kibenki karibu yao. Huduma hii ambayo ni nyongeza kwenye NMB Pamoja Account, ni nafuu, inapatikana kila mahali na wakati wowote na ni rahisi kuitumia.”

AFRICA BEYOND COVID-19: PRESIDENT GEORGE WEAH, US SENATOR CHRIS COONS, TONY ELUMELU AND OTHER GLOBAL LEADERS AT THE 2ND UBA AFRICA DAY CONVERSATIONS URGE GOVERNMENT AND PRIVATE SECTOR COLLABORATION

Group Chairman, UBA Plc, Tony O. Elumelu.

• Demand a new deal in and for Africa

• Advocate speedy implementation of AFCFTA

• Call for Increased Investment in Digital Connectivity

Lagos - United Bank for Africa (UBA) celebrated Africa Day 2020, by bringing together global leaders at the 2nd UBA Africa Day Conversations, screened live across the continent. UBA helps set the debate around African economic development through its series of “Africa Conversations”. This year, the focus was on the Sustainable Development Goals (SDGs) and the Covid-19 pandemic. Leaders emphasised the need for meaningful collaboration between governments and the private sector, as a requirement for the quick recovery of the economy of the African continent post Covid-19.

The panel included the President of Liberia, H.E George Weah; United States Senator Chris Coons; the President & Chairman of the Board of Directors of the African Export–Import Bank (AFREXIMBANK), Professor Benedict Okey Oramah; President, International Committee of the Red Cross (ICRC), Peter Maurer; and was moderated by the Group Chairman, UBA Plc, Tony O. Elumelu.

Other leading voices contributing were the Founder, Africa CEO Forum, Amir Ben Yahmed; the Secretary-General of the African Caribbean and Pacific Group of States (ACP), H.E George Chikoti; Administrator, United Nations Development Program (UNDP), Achim Steiner and Donald Kaberuka, the former President of the African Union.

Elumelu spoke on the need to mobilise quickly and explained the necessity to identify a more fundamental solution to Africa’s challenges. “This is the time for us to deal with the situation, this is not the time for finger pointing, but for collaborative efforts by governments and organisations, to fight the pandemic globally. There is need to flatten the curve, we need global co-operation to stem global depression. Africa requires a large stimulus package, and we need long-term solutions to prevent a cycle of debt.”

ANGLOGOLD ASHANTI MARKS AFRICA DAY AND EFFORTS TO FIGHT COVID-19

AngloGold Ashanti joins over 1.2 billion Africans across the continent and in the diaspora in marking Africa Day at a time when the African Union (AU) is spearheading several initiatives aimed to combat the spread of COVID-19 and ensure Africa’s economic resilience.

The theme for this year’s Africa Day, “Silencing the Guns; creating a conducive environment for Africa's development” provides the relevant frame work to all stakeholders including governments, the private sector, civil society and academia to join forces in the fight against the pandemic, ensuring that livelihoods are protected and keeping economic activity alive.

According to the Chief Operating Officer for Africa, Sicelo Ntuli, the theme is in pursuance of the aspirations of Agenda 2063, which provides a developmental framework towards a continent that is integrated, prosperous and peaceful.

“Other flagship projects include the Africa Continental Free Trade Area (AfCFTA), which has come into force and which aims to boost intra-African trade.

TAMTHILIA YA SLAY QUEEN NDANI YA DStv KILA JUMATANO - IJUMAA SAA 3:30 USIKU

Ni Jumatano nyingine ambapo Tamthilia yako pendwa ya Slay Queen imezidi kuwa 🔥🔥.

Agness ameamua kumwambia Derick ukweli, huku Julieth akianza maisha mapya ya ajira, je nini kuendelea?

Fuatilia uhondo wa Tamthilia hii kila Jumatano - Ijumaa saa 3:30 usiku kupitia chaneli @maishamagicbongo 160 ndani ya DStv pekee!

Jiunge sasa na DStv kwa TShs. 99,000/= kwa kupiga 0659 070707.

#MMBSlayQueen

#TupoNawe

MTV BASE NA DStv WANAKULETEA AFRICA DAY CONCERT LIVE

MTV Base na DStv wanakuletea Africa Day Concert LIVE kutokea sebuleni kwako. Sheherekea siku ya Mwafrika kwa kuangalia perfomance kibao kutoka kwa wasanii mbali mbali Afrika huku Tanzania ikiwakilishwa na @diamondplatnumz @officialnandy na wengine kibao. 

Ni siku ya Jumatatu, tarehe 25 Mei 2020 kuanzia saa 4 usiku LIVE chaneli namba 322 MTV Base ndani ya DStv pekee. Kifurushi cha Bomba kwa TShs. 19,000 tu!

#StaySafe Tune in to the #AfricaDay Benefit Concert.

#ThereForYou

CRDB BANK PRESENTS - AFYA FORUM, WEDNESDAY, MAY 27

OPTIMISM AS TOURIST GROUP JETS INTO KILIMANJARO INTERNATIONAL AIRPORT

Dodoma - Hardly three days after the Tanzania Government announced its decision to reopen its airspace for international flights, the first charter plane with Greek tourists landed at Kilimanjaro International Airport in Arusha yesterday.

The Minister for Works, Transport and Communications, Engineer Isack Kamwelwe told reporters in Dodoma yesterday that the plane landed at 9 a.m. for a tourism mission in the Northern Circuit.

He further said that starting next Monday, more international commercial flights are scheduled to land at a number of airports in the country.

Continue Reading >>>

STANBIC BANK TANZANIA PROVIDES DEBT RELIEF TO OVER 265 CLIENTS

Stanbic Bank Tanzania Head of Personal and Business Banking, Brian Ndadzungira.

DAR ES SALAAM, Wednesday, 20 May 2020 - In light of the growing economic impact attributed to the outbreak of the Coronavirus (COVID-19), Stanbic Bank Tanzania has announced debt relief for its clients by providing them with a 3-6-months payment holiday. The relief began in April 2020 for the tourism sector and has now expanded to the energy, transport and SME sector.

The initiative is part of the bank’s continued effort to support its customers by empowering them with effective measures that will provide a cushion from the economic impact of the Coronavirus outbreak.

Stanbic Bank Head of Personal and Business Banking, Brian Ndadzungira said the bank recognizes the importance of its customers to continue to operate amid COVID-19. “We understand that due to measures taken by countries in the region and the rest of the world to combat the spread of Coronavirus, businesses in Tanzania have also been affected. The bank will alleviate some of the financial impacts facing our customers by putting in place measures that will offer relief during these challenging times. This will not only assist our clients with managing their loan repayments but also enable them to honour payments to their staff and suppliers.”

So far, the bank has provided relief to over 265 clients within their portfolio, with exposures over TZS 37 billion. Additionally, the bank continues to provide financial advisory to its clients to ensure that they have an effective business continuity strategy. “We are urging all customers who are facing financial difficulty resulting from Covid-19 to contact us immediately because together we can find a workable solution,” added Ndadzungira.

NEW CISI DEAL WITH TANZANIA INSTITUTE OF BANKERS TO ENHANCE GLOBAL PROFESSIONAL STANDARDS

The Chartered Institute for Securities & Investment (CISI) and the Tanzania Institute of Bankers (TIOB) have signed an MoU with the aim of advancing professional standards in the Tanzanian banking sector.

The collaboration will ensure that the following CISI qualifications will be offered to TIOB students and members:

• International Certificate in Wealth & Investment Management
• Global Financial Compliance
• Risk in Financial Services 
• Operational Risk
• Managing Operational Risk in Financial Institutions 

In addition, candidates will also receive 12 months Student CISI membership which includes access to the full range of CISI member benefits. These include over 500 videos on the CISI TV channel, over 180 e-learning modules or “Professional Refreshers” to update sector knowledge, 1,300 articles in the exclusive member magazine The Reviewand opportunities to attend CPD events.

Damas Mugashe TIOB Director of Finance and Business Development said: “TIOB is committed to partnership engagements at local and international level as part of fulfilling its strategic objectives 2020-2022. Running joint professional programs with The Chartered Institute for Securities and Investment (CISI) will benefit both Institutes by bringing international professionally recognized accredited programs to its members in Tanzania. This will also market some of the CISI programs locally and contribute to its growth. TIOB believes that its members, having acquired those qualifications will enhance their professional careers and better serve the financial Sector in Tanzania, and will be part of the larger international network of professionals. Moreover, TIOB believes that this partnership will contribute to accelerate its transformation agenda and will enhance cooperation between the two entities”.

LIPIA KIFURUSHI CHA DStv SASA, NA UPANDISHWE CHA JUU YAKE BILA MALIPO YA ZIADA!

Tupo Nawe!

Lipia kifurushi cha DStv sasa, na upandishwe cha juu yake bila malipo ya ziada, ambayo ni sawa na punguzo la 35% , ikiwa ni shukrani yao DStv kwako wewe Mteja wao!

Kwa nini upitwe na mambo mazuri kama haya? Jiunge sasa na DStv kwa kupiga 0659 070707.

#ThereForYou

NMB BANK OFFERS DEBT RELIEF TO EASE CUSTOMERS' BURDEN AMID COVID-19

NMB Bank Acting Managing Director, Ruth Zaipuna.

• Case by Case Relief for Personal and SME/MSME Customers

• Customer Tailored solutions for Corporate Clients

Dar es Salaam, May 21, 2020: NMB Bank Plc has announced relief measures for its Personal, Micro, Small and Medium Enterprise clients, and to corporate customers in sectors whose income and cash flows have been adversely affected by the Covid-19 Pandemic. This is Bank’s effort to offer financial reprieve to sectors that may have been directly or indirectly impacted by the economic consequences of COVID-19 pandemic.

A total of 412 SME/MSME Customers have already received the much-needed relief packages from NMB Bank ranging from payment holidays to extension of loan repayment periods to help them cushion the impact of COVID–19 on their businesses.

NMB Bank Acting Managing Director, Ruth Zaipuna, said the impact that the COVID-19 pandemic has had on both individuals and businesses has been relatively small compared to countries that went to partial or complete lockdowns, but nevertheless, actions by other countries may have impacted global supply chains and hence impacting some of our clients.

“As a Bank, we recognize that this is a difficult time for some of our customers and businesses whose financial means are being negatively affected. After careful consideration, the various measures we are implementing are proportionate to the economic impact of these entities and individuals. Today, we continue to remind our clients of the need to continue engagements with the Bank in order to access and take appropriate interventions where justified,” said Zaipuna.

BENKI YA NMB YATANGAZA HATUA ZA KUWAPUNGUZIA MZIGO WATEJA WAKE KUTOKANA NA JANGA LA COVID-19

Kaimu Mkurugenzi Mtendaji wa Benki ya NMB, Ruth Zaipuna.

• Hatua kuchukuliwa kulingana na mahitaji ya Wateja wa Biashara Ndogondogo na za Kati 

• Suluhisho pia kutolewa kwa Wateja Wakubwa

Dar es Salaam, Mei 21, 2020: Benki ya NMB Plc imetangaza unafuu wa ulipaji mikopo kwa Wateja wa Biashara ndogo na za kati (SME/MSME) na wakubwa ili kuwasaidia kukabiliana na madhara yaliyotokana na janga la COVID-19 kwenye biashara zao. Hii ni jitihada ya benki katika kutoa ahueni kwa wateja wake hususani sekta zilizoathiriwa zaidi na janga la COVID-19.

Takribani wateja 412 biashara ndogo na za kati wameshapata ahueni hii kwa kupitia likizo ya marejesho ya mikopo yao na wengine wakiongezewa muda wa kulipa mikopo hiyo ili kuwasaidia kukabiliana na madhara yaliyoletwa na COVID–19 katika biashara zao.

Kaimu Mkurugenzi Mtendaji wa Benki ya NMB, Ruth Zaipuna alisema athari ambazo zimetokana na janga la COVID-19 kwa watu wa kawaida na wafanya biashara zimekuwa si kubwa sana ukilinganisha na nchi ambazo zilifunga shughuli zote na watu kujifungia ndani. Hata hivyo, uamuzi wa nchi nyingine kujifungia umeleta mtikisiko katika biashara duniani na hivyo kuathiri baadhi ya wateja wetu wa hapa nchini.

"Kama Benki, tunatambua kuwa huu ni wakati mgumu kwa wateja wetu ambao biashara zao zimeathirika kutokana na mtikisiko huu kutoka nje, tumedhamiria kutoa ahueni kutokana na mahitaji ya wateja na ukubwa wa athari, hii ni kwa sababu si biashara zote na wateja wote wameathirika kwa kiwango sawa, mkazo ni katika biashara zilizoathirika zaidi na COVID-19," aliongeza.

"Tunapenda kuwahakikishia wateja wetu kuwa hawako peke yao kwenye safari hii. Milango yetu ipo wazi na tupo tayari kuwasaidia katika nyakati hizi zisizo na uhakika za janga la COVID-19. Mara zote lengo letu ni kuhakikisha ukuaji wa uchumi wa nchi yetu. Njia pekee tunayoweza kufanya hilo ni kuhakikisha kuwa ukuaji wa wateja wetu ni endelevu, hivyo umuhimu wa kuwapunguzia mzigo huu katika kipindi hiki”.

EMPLOYMENT OPPORTUNITY AT DCB COMMERCIAL BANK PLC

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TONY ELUMELU SAYS COVID-19 PRESENTS AN OPPORTUNITY TO RESET AFRICA

Chairman of the United Bank for Africa (UBA) Plc, Tony Elumelu.

• Advocates Martial Plan to Boost Electricity And Ease Debt Burden

• Wants Youths Prioritised as SMEs are Empowered

The Chairman of the United Bank for Africa (UBA) Plc, Tony Elumelu, has stated that the Coronavirus Pandemic currently ravaging the world presents an opportunity to reset the African continent so that Africans can be empowered to become more productive and self reliant. He said this recently at the high-level Roundtable discussions made up of African leaders including Dr. Ngozi Okonjo - Iweala, the Special Envoy of the African Union on Covid-19 and Tidjane Thiam who is also a Covid-19 Special Envoy responsible for mobilising international economic support for Africa.

During the session titled ‘Resilient World: An African call for a new world order’, Elumelu stated “I see this pandemic as an opportunity to reset Africa.’ Whilst pointing out that Africa as a continent has all it takes to emerge into a strong digital economy, the UBA Group Chairman advocated a martial plan that will galvanise the entire continent and make Africa less dependent on the ‘circularity of debt’ from developed nations, which according to him, has been a major setback for decades.

He said, “I feel that as we engage the rest of the world in providing relief, we need to look for a more fundamental solution to Africa’s challenges. I have often argued for a martial plan overtime. We need to mobilise everyone. If we have a martial plan that mobilises resources to address particular issues, then we can mitigate against this constant begging for assistance.”

CLYDE & CO UPDATER; COVID-19 TANZANIA - UPDATE ON THE POLICY MEASURES INTRODUCED BY THE BANK OF TANZANIA

In light of the recent COVID-19 pandemic, the Bank of Tanzania (the BoT) has taken steps to introduce policy measures to safeguard the stability of the financial sector. In this article, we outline the policy measures which the Monetary Policy Committee of the BoT have recently approved to maintain stability in the financial sector and to ensure there is guidance in relation to increased non-cash transactions.

The policy measures that have been approved by the Governor of the the BoT are set out below:

1. Statutory Minimum Reserves (SMR)

The BoT intends to lower the SMR requirement from 7% to 6%. Pursuant to the BoT Act 2006, the BoT may require banks or financial institutions to maintain minimum cash balances with the BoT as reserves against the deposit and other liabilities of the banks and financial institutions and may, in that respect, prescribe the currency or the currencies in which such balances shall be held. According to the Press Statement, this policy measure will come into effect on 8 June 2020 and is expected to provide additional liquidity to banks. This policy measure has often been taken by the BoT in the past given prevailing economic conditions and has proven effective to spur economic growth in the market.

2. Discount Rate

In anticipation that banks may require additional funding from the BoT in light of COVID-19 the BoT has reduced the discount rate from 7% to 5%. The discount rate is the rate at which the BoT lends to banks. According to the Press Statement, this policy measure came into effect on 12 May 2020 and will enable banks to borrow additional funds from the BoT at a lower discount rate to then lend to their customers at a lower rate.

3. Haircuts on Government Securities

In relation to government securities, the BoT has reduced haircuts on treasury bills from 10 percent to 5 percent and on treasury bonds from 40% to 20% marking a significant change which has been made in the expectation that it would increase the ability of commercial banks to borrow from the BoT with less collateral than before. Haircuts are the difference between the current market value of an asset and the amount that can be used as collateral for a loan. A higher haircut means that if there is a drop in the market value of the collateral, the lender is still able to recover the amount that has been maintained as collateral. According to the Press Statement this policy measure came into effect on 12 May 2020.

Continue Reading >>>

UHONDO WA TAMTHILIA YAKO PENDWA SLAY QUEEN NDANI YA DStv KILA SIKU, JUMATANO - IJUMAA SAA 3:30 USIKU

Uhondo wa Tamthilia yako pendwa Slay Queen unaendelea huku mambo yakizidi kuwa 🔥🔥. Nini kuendelea baada ya Mzee Kasongo kuzama kwenye penzi la mwanafunzi wa Chuo Julieth?

Usikose kutazama Tamthilia hii ya Slay Queen kila siku za Jumatano - Ijumaa saa 3:30 usiku kupitia chaneli ya @maishamagicbongo 160 ndani DStv pekee.

Jiunge sasa na DStv kwa sh TShs. 99,000/= tu kwa kupiga 0659 070707.

#MMBSlayQueen

#TupoNawe

COVID-19: COMPANIES MUST ENACT NEW POLICIES TO SLOW THE SPREAD AND PROTECT WORKERS

The outbreak of COVID-19 has prompted many industries to adapt how they conduct business operations.

In an effort to slow the spread of the virus and protect workers, many industries have sought to enact new policies. In Tanzania, the country’s civil aviation authority suspended all international flights. Meanwhile, decisions were made to temporarily close schools and pause sporting events to prevent large public gatherings.

Elsewhere, it is likely that some of the country’s larger companies have looked to cancel face-to-face meetings, postpone conferences, reduce international travel and – where possible – use digital technology – to maintain routine business activity.

Going forward, many of these companies are likely to have to consider these steps when planning business operations in the coming weeks and months. The preparatory work surrounding an initial public offering (IPO) is a good example of where companies may choose to postpone activities.

It is important to remember that IPOs require a great deal of in-person meetings, audits and presentations. It therefore might be wise for the IPO to be delayed until a time when it is safer and easier to do so.

One of the country’s largest telcos – Tigo Tanzania – was preparing for its IPO. In these times, however, it might be wise to postpone such a move, to help encourage social distancing, reduce unnecessary travel and help minimize the spread of COVID-19.

By pausing non-essential activities, companies can wait and prepare for the right window of opportunity, knowing they are poised to resume at a time when is best suited for all.

Majura Kidato
Dar es Salaam
20.05.2020

BENKI YA COMMERCIAL BANK OF AFRICA (CBA) YATOA MSAADA WA MATANKI YA MAJI KWA HOSPITALI ZA UMMA JIJINI DAR ES SALAAM

Mwakilishi kutoka kitengo cha Ugavi wa Hospitali ya Mwananyamala, Hiltruda Patrick (kushoto) akipokea matanki ya maji kutoka kwa Geofrey Kivamba wa Brandmiles kwa niaba ya Benki ya Commercial Bank of Africa (CBA) Tanzania ikiwa ni sehemu ya msaada wa matanki nane ya maji yasiyo na mkono kwa hospitali nne zilizochaguliwa jijini Dar es salaam ili kukabiliana na mahitaji yanayoongezeka ya kusafisha mikono ambayo ni hatua muhimu katika kupambana na COVID-19. Katikati ni Mfamasia wa hospitali hiyo, Simon Mbise.

15 Mei 2020, Dar es Salaam - Benki ya Commercial Bank of Africa (CBA) Tanzania imetoa msaada wa matanki nane ya maji yasiyo na mkono kwa hospitali nne zilizochaguliwa jijini Dar es salaam kukabiliana na mahitaji yanayoongezeka ya kusafisha mikono ambayo ni hatua muhimu katika kupambana na COVID-19.

Akikabidhi mchango huo Afisa Mtendaji Mkuu wa CBA, Gift Shoko amesema msaada huo ni sehemu ya hatua zilizochukuliwa na CBA kuunga mkono juhudi za serikali katika kupambana na kusambaa kwa COVID-19 nchini Tanzania.

"Commercial Bank of Africa (Tanzania) imejitolea kusaidia hospitali ziweze kutoa vifaa sahihi kwa watu wanaotembelea hospitali hizo ili kuwawezesha kutekeleza utaratibu wa kunawa mikono kwa sababu ni silaha muhimu ya kupambana na virusi vya corona. Mara baada ya kutambua kuwepo kwa ongezeko la mahitaji ya vifaa vya kunawia mikono, benki ya CBA ilianza kufanya mchakato wa kupata matanki kwaajili ya kuhifadhia maji katika kusaidia upatikanaji wa vifaa vya kunawia mikono katika hospitali ambako ndio sehemu muhimu kwaajili ya ustawi wa jamii ya Dar es salaam." Alifafanua bwana Shoko

"Kama tunavyofahamu, maambukizi ya virusi vya corona yanaweza kutokea kwa kugusa sehemu iliyoguswa na mtu mwenye virusi, hivyo tumehakikisha kwamba matanki ya maji yamewekewa kifaa cha kufungulia maji kwa kukanyaga kwa mguu ili kumlinda zaidi mtumiaji.

Hospitali ambazo zimenufaika na msaada huo ni pamoja na Amana, Sinza, Mwananyamala na Lugalo.

Hospitali hizi zinahudumia idadi kubwa ya watu kila siku, hivyo tuliamua kuanza na hizi. Ni matumaini yetu kwamba tutaweza kuzifikia hospitali nyingi zaidi katika siku zijazo" Alieleza zaidi bwana Shoko.

LETSCHEGO BANK TANZANIA EXTENDS THREE-MONTH LOAN REPAYMENT HOLIDAY TO ITS CUSTOMERS TO HELP THEM CUSHION THE IMPACT OF COVID-19

Letshego Bank CEO, Andrew Tarimo.

Letschego Bank Tanzania has extended a three-month loan repayment holiday to its customers to help them cushion the impact of the disruption caused by COVID-19, a severe flu related pandemic that continues to wreak havoc to businesses and life patterns globally.

Briefing the media in Dar es Salaam about the decision yesterday, The Chief Executive Officer (CEO), Andrew Tarimo said:

“COVID-19 is a global crisis that has hit businesses hard without it being the fault of the business community. It is therefore our obligation to ensure we continue to coexist with our partners during this difficult time of doing business.”

He said the relief was effective from April 1, this year and will run for three months, meaning up to the end of June. 

The CEO further called on their customers to contact Bank officials for assessment and restructuring of their loan portfolios.

He explained furthermore that the hardest hit were SMEs in the tourism, education and travel sectors as well as the hospitality industry.

“As a Bank, we felt that we needed to deliver this benefit in order to allow businesses to continue operating efficiently,” Tarimo added.

The Bank CEO reiterated that Letshego Bank Tanzania was committed to continue providing retail and business financial services through physical presence, strategic
alliances and digital platforms.

He explained that their customers can still apply for loans through their Call Centre, WhatsApp for business and Web applications, the Bank has a presence on Instagram and Facebook. The same platforms also have more information on the Bank’s business continuity programmes during this challenging period.

BANKERS CLOSELY MONITOR COVID-19 IMPACT

Tanzania Bankers Association Chairman, Abdulmajid Nsekela.

Tanzania Bankers Association (TBA) has has said it is keen to maintain close engagements with the Central Bank to check the adverse impact of coronavirus in the Financial Sector.

The umbrella body for Bankers, according to the statement, has already set in motion internal mechanisms to help its members rollout changes in line with the announced measures.

The TBA Chair, Abdulmajid Nsekela said the Association is closely working with the Bank of Tanzania (BOT) to ensure its members remain appraised on the policy changes during this unprecedented period.

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STANDARD CHARTERED BANK BECOMES THE FIRST BANK TO ANNOUNCE COVID-19 RELIEF MEASURES FOR ITS CLIENTS

Ajmair Riaz, Country Head of Retail Banking, Standard Chartered Bank Tanzania.

Monday 18 May 2020 – Standard Chartered Bank Tanzania has become the first Bank in Tanzania to announce relief measures for its Individual and Business Clients whose income and cash flows have been affected by the COVID-19 pandemic.

In a statement issued by the Bank, Mr. Ajmair Riaz, the Bank’s Country Head of Retail Banking, said that his team has been working very closely with the Bank’s clients in the Individual and Business segments to understand the financial challenges that they are facing during this unprecedented time.

“During this unprecedented period, we understand the challenges that prevail including from a financial aspect. In this regard, we have been reaching out to our clients to discuss how the pandemic is affecting them and the various challenges that they are facing.

We have, therefore, based on discussions with our various clients, decided to take proactive actions to introduce relief measures that will ease the financial burden for our Individual and Business Clients whose income and cash flows have been impacted by the COVID-19 pandemic.” Mr. Riaz said.

Mr. Riaz added that his Bank has looked into a number of options for supporting its clients and had narrowed down to two effective measures which comprise of either a payment holiday or tenor extension for loan repayments.

He highlighted that these options are open to Individual clients who have Personal Loans or Mortgages with the Bank, as well as Business Clients, mainly in the SME sector, who have taken loans from the Bank. He also added that the relief measures which will be granted to the Bank’s clients, will be based on a criteria that will consider financial impact arising from cases such as unpaid leave, salary reduction, job loss, infected customers, loss of business and other reasons that the Bank may find reasonable during this unprecedented time.

APRIL 2020 PROGRESS VIDEO STANDARD GAUGE RAILWAY LINE FROM MOROGORO TO MAKUTUPORA

TIMIZA AKIBA’S GROWTH DEMONSTRATES HOW REWARDING SAVING CAN BE FOR ALL TANZANIANS

Dar es Salaam, Tanzania - With total savings growing by more than 30% in the last three months alone, Timiza Akiba is proving to be a safe and accessible option to help Tanzanians save their hard-earned cash –simply, safely and easily, using their mobile phones.

Launched just under two years ago, through a partnership with Airtel, Letshego Bank Tanzania and financial technology company JUMO, Timiza Akiba is Tanzania’s first fee-free, interest-bearing mobile money savings account. With the initial aim to drive a savings culture among the people of Tanzania and help them reach their business or personal financial goals, the dynamic partnership is showing signs of sustained success.

Timiza Akiba allows Airtel customers to set up a savings account and save any amount from TSH 100 up to TSH 5 Million directly from their mobile phones, without having to handle cash or travel to a bank. The funds are managed by Letshego Bank Tanzania and those customers who manage to avoid spending their savings, receive a monthly sum as a reward for their commitment towards reaching their financial buffer, or goal. Timiza Akiba’s reward is calculated as a percentage of total savings on a balance of any size, and supports national government mandates to encourage and support the growth and development of the local savings culture. Withdrawals are, however, accessible and available at any time with no transaction costs, in the event of an unexpected expense or emergency. Timiza Akiba is available to all Airtel Tanzania customers, and accessible via Airtel’s Money Menu, simply by dialling *150*60#, then selecting 6, 1 and 3.

WAZIRI MKUU AKAGUA UJENZI WA RELI YA KISASA (SGR)

Waziri Mkuu Kassim Majaliwa, akifafanuliwa jambo na Makamu Mwenyekiti wa Kampuni ya Yapi Markezi, Ardem Arioglu, akiwa ndani ya treni inayotumia umeme, wakati alipokagua mradi wa reli ya kisasa ya SGR, May 14, 2020.

Waziri Mkuu Kassim Majaliwa, akifafanuliwa jambo na Mkurugenzi Mtendaji wa Shirika la Reli Tanzania (TRL), Masanja Kadogosa, ndani ya treni inayotumia umeme, wakati alipokagua mradi wa reli ya kisasa ya SGR, May 14, 2020.

Waziri Mkuu Kassim Majaliwa, akizungumza na baadhi ya Mawaziri na Viongozi wa Shirika la Reli Tanzania (TRL), ndani ya treni inayotumia umeme, wakati alipokagua mradi wa reli ya kisasa ya SGR.

Waziri Mkuu Kassim Majaliwa, akizungumza na baadhi ya Mawaziri na Viongozi wa Shirika la Reli Tanzania (TRL), ndani ya treni inayotumia umeme, wakati alipokagua mradi wa reli ya kisasa ya SGR.

Waziri Mkuu Kassim Majaliwa, akiangalia mandhari ya nje, wakati akiwa ndani ya treni inayotumia umeme, alipokagua mradi wa reli ya kisasa ya SGR. 

Waziri Mkuu Kassim Majaliwa, akishuka, ndani ya treni inayotumia umeme, wakatialipokagua mradi wa reli ya kisasa ya SGR.

• Asema umetoa ajira zaidi ya 18,000; utapunguza muda wa safari
• Asema nguzo za umeme 154 kati ya 160 zimeshasimikwa

Waziri Mkuu, Kassim Majaliwa amekagua ujenzi wa reli ya kisasa (SGR) na kusema kuwa mradi huo umesaidia kupungua tatizo la ajira kwa kuajiri wafanyakazi 18,700.

“Kukamilika kwa awamu ya kwanza ya mradi huu, kumesaidia kupunguza ukosefu wa ajira kwa kutoa ajira 7,400 kwa kipande cha Dar hadi Morogoro. Kipande cha Morogoro hadi Singida kimetoa ajira 6,300 wakati mradi wa umeme kutoka Bwawa la Mwalimu Nyerere nao pia umetoa ajira 5,000,” amesema Waziri Mkuu

Waziri Mkuu amesema hayo Alhamisi, Mei 14, 2020 baada ya kutembelea mradi huo na kuzungumza na wananchi aliowakuta kwenye stesheni ya Soga, iliyoko wilayani Kibaha, mkoani Pwani.

Amesema faida nyingine ya mradi huo katika awamu yake ya kwanza, ni kupunguzwa kwa muda wa safari kati ya Dar es Salaam na Morogoro. Amewataka wananchi hao wawe walinzi wa mradi huo kwa sababu utakapokamilika utawanufaisha na wao pia.

Reli hiyo itakuwa na vituo sita vya Dar es Salaam, Pugu, Soga, Ruvu, Ngerengere na Morogoro, huku vituo vya Dar es Salaam na Morogoro vikiwa ndiyo vituo vikuu. “Kwenye vituo vya kushusha abiria vya reli hii, kutakuwa na huduma za kibenki na maduka, kwa hiyo wananchi hata kama hamsafiri, mtaweza kupata huduma na mahitaji yenu kutokea hapo,” amesema.