"NMB's involvement is not just during the Zanzibar Revolution celebrations; they are at the forefront of promoting the development of the islands and their residents in many areas, including sports. They have been a consistent sponsor of the Mapinduzi Cup for several years, helping to increase employment through sports," she noted.
Kitomari Banking & Finance Blog is a premier site for banking, finance, business, economic, investment and stock market news as well as selected informative articles from Tanzania, East Africa and the rest of the World. We operate 24 hours a day, 365 days a year with complete context, perspective and precision.
Tuesday, 31 December 2024
NMB SPONSORS MAPINDUZI CUP 2025 & NATIONAL EXERCISE DAY IN ZANZIBAR
"NMB's involvement is not just during the Zanzibar Revolution celebrations; they are at the forefront of promoting the development of the islands and their residents in many areas, including sports. They have been a consistent sponsor of the Mapinduzi Cup for several years, helping to increase employment through sports," she noted.
NMB YADHAMINI KOMBE LA MAPINDUZI 2025, YAFADHILI SIKU YA MAZOEZI KITAIFA ZANZIBAR
"Wazanzibar wengi wanahudumiwa na NMB na uwingi wao unalenga kuiwezesha benki kukuza pato lao ili nao wanufaike na mchango wa maendeleo ya Zanzibar na watu wake. Tunawapongeza kwa kufadhili Siku ya Mazoezi Kitaifa, lakini pia kwa udhamini wenu mnono katika Kombe la Mapinduzi 2025."
100 NMB CUSTOMERS WIN 10M/- CASH PRIZES IN ‘MASTABATA LA KIBABE’ 7th DRAW
DAKTARI DAR AJISHINDIA MILIONI 100/- ZA FAINALI NMB BONGE LA MPANGO
“Wakati tukiwahakikishia wateja wa NMB muendelezo bora wa huduma bora na rafiki kwao, sisi tunaamini kwamba kila Mtanzania anapaswa kuwa na akaunti NMB, Benki Bora kwa miaka 11 mfululizo katika miaka 12 iliyopita,” alisema Mponzi huku akiinadi Akaunti ya Wekeza yenye riba hadi asilimia 12 kwa mwaka.
DAR RESIDENT WINS 100M/- NMB GRAND PRIZE IN ‘BONGE LA MPANGO’ FINAL DRAW
“I am glad to announce that our ‘Bonge la Mpango’ campaign has finally come to an end today. All Tanzanians had a chance to participate and win fabulous prizes including smart televisions, washing machines, gas cookers, refrigerators, power tillers, three-wheeler sand cash prizes ranging from 100,000/- to 5m/-, during weekly and monthly draws” he said.
VODACOM YAWAJENGEA WANAFUNZI WA KIKE UWEZO KUPITIA 'CODE LIKE A GIRL'
NBC BANK UNVEILS TZS 27.2 BILLION TO EMPOWER TANZANIA'S SME SECTOR
NBC Bank Managing Director, Theobald Sabi. |
Dar es Salaam, December 2024: The National Bank of Commerce (NBC) has officially launched Series 1 of its second tranche of the NBC Twiga bond, valued at TZS 27.2 billion, marking a significant initiative aimed at strengthening the small and medium-sized enterprises (SMEs) throughout Tanzania.
The strategic move underscores NBC's dedication to enhancing financial access and promoting economic development in the country.
According to a statement issued by the bank recently, the five-year bond has been listed on the Dar es Salaam Stock Exchange (DSE), reinforcing its commitment to supporting micro, small, and medium enterprises (MSMEs).
“The funds raised through the NBC Twiga bond will be directed towards providing essential financing to MSMEs, which are recognized as the cornerstone of the Tanzanian economy,” noted Theobald Sabi, Managing Director of NBC, in the statement.
He emphasized that by enhancing access to necessary funding, the bank is poised to unlock significant growth potential for the enterprises, thereby stimulating overall economic progression in Tanzania.
“Interest payments will be made semi-annually over the bond's duration, concluding in October 2029. Notably, earnings from this bond are exempt from withholding tax deductions, enhancing its appeal to both local and international investors,’’ he added.
Addressing the bond's potential impact, Mr. Sabi expressed enthusiasm for its role in bolstering the SME sector. “This five-year bond will not only strengthen the SME sector—which employs the majority of the country’s population—but will also expand access to finance and unlock new growth opportunities," he affirmed.
Thursday, 26 December 2024
Monday, 23 December 2024
Friday, 20 December 2024
DKT. NCHEMBA ATETA NA SAUDI FUND SAUDI ARABIA
Waziri wa Fedha, Mhe. Dkt. Mwigulu Nchemba (Mb), ameushukuru Mfuko wa Maendeleo wa Saudi Arabia (Sadi Fund for Development-SFD), kwa mchango wake katuika maendeleo ya Tanzania kupitia ufadhili wa miradi mbalimbali ya maendeleo katika sekta za maji, afya, nishati na ujenzi wa miundombinu ya barabasra.
Dkt. Nchemba ametoa shukrani hizo alipo kutana na kufanya mazungumzo na Mkurugenzi Mtendaji wa Saudi Fund, Bw. Sultan Al-Mashard, Kando ya Mkutano wa Jukwaa la Biashara na Uwekezaji, lililofanyika Mjini Riyadh nchini Saudi Arabia.
Dkt. Nchemba aliyeambatana na Mawaziri wenzake wawili katika kikao hicho, akiwemo Waziri wa Viwanda na Biashara, Mhe. Dkt. Selemani Jafo na Waziri wa Nchi, Ofisi ya Rais, Fedha na Mipango Zanzibar, Mhe. Dkt. Saada Mkuya Salum, alisema kuwa ushirikiano wa Saudi Arabia na Tanzania uliodumu kwa zaidi ya miaka 40 sasa, umekuwa wa mfano.
Aliitaja baadhi ya miradi iliyoleta mageuzi makubwa katika jamii ya Tanzania kuwa ni pamoja na ukarabati wa Mradi wa Maji mkoani Mara (Usd 15m), Ujenzi wa Mradi wa Maji wa Same-Mwanga-Korogwe (Usd 25m), na ujenzi wa Barabara za Vijijini Awamu ya Pili-Zanzibar (Usd 11.4m).
Dkt. Nchemba ametoa shukrani hizo alipo kutana na kufanya mazungumzo na Mkurugenzi Mtendaji wa Saudi Fund, Bw. Sultan Al-Mashard, Kando ya Mkutano wa Jukwaa la Biashara na Uwekezaji, lililofanyika Mjini Riyadh nchini Saudi Arabia.
Dkt. Nchemba aliyeambatana na Mawaziri wenzake wawili katika kikao hicho, akiwemo Waziri wa Viwanda na Biashara, Mhe. Dkt. Selemani Jafo na Waziri wa Nchi, Ofisi ya Rais, Fedha na Mipango Zanzibar, Mhe. Dkt. Saada Mkuya Salum, alisema kuwa ushirikiano wa Saudi Arabia na Tanzania uliodumu kwa zaidi ya miaka 40 sasa, umekuwa wa mfano.
Aliitaja baadhi ya miradi iliyoleta mageuzi makubwa katika jamii ya Tanzania kuwa ni pamoja na ukarabati wa Mradi wa Maji mkoani Mara (Usd 15m), Ujenzi wa Mradi wa Maji wa Same-Mwanga-Korogwe (Usd 25m), na ujenzi wa Barabara za Vijijini Awamu ya Pili-Zanzibar (Usd 11.4m).
TANZANIA PORTS AUTHORITY SEES SURGE IN REVENUES
Following the ongoing upgrade of the Dar es Salaam Port by DP World, the Tanzania Revenue Authority (TRA) has been collecting an average of 1tri/- per month since September this year, compared to 850bn/- during the corresponding period before the private investor took over operations.
Government Chief Spokesperson and the Permanent Secretary for the Ministry of Information, Culture, Arts and Sports Mr Gerson Msigwa unveiled the remarkable progress on Thursday in a press conference, underlining the DP World commitment to advancing efficiency through, among others, installation of modern cargo handling equipment and Information Communication Technology (ICT) systems for monitoring daily operations.
He hinted that the current government’s goal is to collect 1.5tri/- per month in the near future with the long-term target being bigger than the envisioned goal.
The private investor has integrated the Tanzania Customs Integrated System (TANCIS) with the Tanzania Electronic Single Window System (TeSWS), cutting time spent by customers to unload their cargo under several fragmented electronic systems.
He said the improved efficiency, which substantially reduced the Dar es Salaam Port’s turnaround time to seven days from an average 48 days, has resulted in the unprecedented increase in revenue collection.
He said such cut in the port’s turnaround time has significantly reduced the number of ships waiting to be handled from an average of 35 vessels per month in September 2023 to 15 ships in September 2024.
“The ongoing upgrade of the Dar es Salaam Port under the investment of the DP World and alongside other companies depicts significant economic benefits including a big boost in trade while improving the investment atmosphere in the country,” Mr Msigwa said.
NCBA BANK SPONSORS LINA PG TOUR TO HONOR GOLFING ICON LINA NKYA
The Lina PG Tour, established in memory of Lina Nkya following her passing in 2021, brings together professional and amateur golfers in a Pro-Am format. Known as the "Mother Golfer," Nkya dedicated her life to promoting women’s golf, leaving a legacy that continues to inspire generations. The tour serves as a platform to honor her work, celebrate golfing talent, and foster inclusivity in the sport.
The Lina PG Tour sponsorship is the latest in a series of impactful golfing initiatives spearheaded by NCBA Bank Tanzania in 2024. Earlier this year, the bank hosted the NCBA Golf Series, a flagship event that has become East Africa’s most celebrated golfing tournament. The series brought together participants from Tanzania, Kenya, Uganda, and Rwanda, culminating in a grand finale in Nairobi. Tanzanian representatives, including Earnest Sengue, Stephen Chuwalo, and Lawrence Ogutu Opondo, showcased their talent at the finals with full sponsorship from NCBA Bank.
In addition, the NCBA Junior Golf Series saw over 80 young golfers from across Tanzania participate, underscoring the bank’s commitment to nurturing grassroots talent. The series featured juniors from Lugalo, Morogoro, Arusha, TPC Moshi, Zanzibar, and Dar es Salaam Gymkhana, offering a platform to foster the next generation of golfing champions.
Speaking on the Lina PG Tour sponsorship, NCBA Tanzania’s Managing Director, Mr. Claver Serumaga, remarked:
“Lina Nkya’s dedication to advancing women’s golf left an indelible mark on the sport. Through the Lina PG Tour, we honor her incredible legacy and reaffirm our commitment to supporting initiatives that inspire and empower communities. At NCBA, we believe that sports have the power to transform lives, and we are proud to be part of this significant event.”
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