Kitomari Banking & Finance Blog
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.
Friday 17 May 2024
TRADEMARK AFRICA & FOUNDATION FOR CIVIL SOCIETY LAUNCH A TZS 2.3 BILLION PROJECT
Dar es Salaam Tanzania, 17 May 2024: The Foundation for Civil Society (FCS) and TradeMark Africa have today sealed a grant agreement to launch a project dubbed Private Sector and CSOs for Inclusive and Greening Trade that will drive sustainable economic growth and inclusive trade practices, addressing the significant systemic challenges in Tanzania’s trade sector.
Funded by the Foreign, Commonwealth & Development Office (FCDO), Ireland, and Norway, the TZS 2.3billion ($ 900,000), the project seeks to integrate the strengths of private sectors and civil society organisations to promote green economic growth.
Many women in Tanzania, remain in the informal trading sector facing top barriers such as limited access to finance, and inadequate training in trade-related skills. This initiative aims to dismantle these barriers, creating a trading environment that is inclusive and fosters prosperity for all.
The project, which starts immediately, is designed to leverage the unique strengths of the private sector alongside civil society organisations to enhance trade practices that are both inclusive and environmentally sustainable. Over the next 18 months, FCS will implement strategic interventions across multiple trade sectors, focusing on reducing environmental impact and promoting inclusivity in economic benefits.
Speaking during the signing ceremony, TMA Tanzania Country Director Mr. Elibariki Shammy said, “This project is central to our strategic objectives to stimulate trade growth while ensuring that it's sustainable and inclusive. We believe that through strategic collaborations like this, we can make a significant impact on Tanzania’s trade landscape. Empowering women is not just a moral imperative but a developmental one. Integrating women into trade boosts economic diversity and lifts entire communities. Through this partnership, we aim to develop a trade ecosystem that is inclusive and robust enough to withstand the pressures of global trade demands."
TANGA UWASA WATER BOND OPENS DOORS FOR SUBNATIONAL INSTRUMENTS
Dodoma: Tanga UWASA Water Bond worth 53.12bn/- has been listed at the Dar es Salaam Stock Exchange (DSE) marking a milestone in the history of alternative project financing in the country worth emulating.
The first-ever subnational bond in the history of the country was slightly oversubscribed and managed to raise 54.72bn/- which was 103 per cent of its total target.
The bond fund will be used to boost water availability in Tanga, the first municipality in the country.
The Minister for Works, Mr. Innocent Bashungwa, said during the listing ceremony held in Dodoma that Tanga UWASA Water Bond stands as an example for other government entities to borrow a leaf in efforts to complement the government’s conventional budget framework and foster Local Government Authorities (LGAs) reliance.
“This listing event is clear evidence that the country’s capital markets have muscles to finance projects,” Mr. Bashungwa said.
The funds from the bond besides improving Tanga water infrastructures will increase water accessibility by almost two times the present capacity, from 30,000 cubic metres per day to 60,000 cubic metres per day meeting the city’s present water demand.
Furthermore, he said the bond paved the way for other ministries to apply a similar approach to obtaining project funds apart from relying on the central government funds, which are limited.
Mr. Bashungwa said so far the Ministry of Works is preparing an infrastructure bond which will also be utilized to fund various transport infrastructure projects, including road construction.
Statistics showed that 65 per cent of the bond was purchased by local investors and the remaining 35 per cent by foreigners.
TANGA UWASA YAORODHESHWA SOKO LA HISA LA DAR ES SALAAM (DSE)
Dodoma: Waziri wa Fedha, Mhe. Dkt. Mwigulu Lameck Nchemba (Mb), amezielekeza Taasisi za Serikali kutumia utaratibu wa Ugharamiaji wa Miradi ya Maendeleo kwa kutumia njia mbadala (Alternative Project Financing) badala ya kutegemea Bajeti ya Serikali pekee.
Agizo hilo limetolewa kwa niaba yake na Waziri wa Ujenzi, Mhe. Innocent Bashungwa, wakati wa hafla ya kuorodheshwa kwa Hatifungani ya Mamlaka ya Maji na Usafi wa Mazingira Tanga (Tanga UWASA) kwenye Soko la Hisa la Dar es Salaam (DSE) iliyofanyika katika Ukumbi wa Mikutano wa Wizara ya Fedha, jijini Dodoma.
Mhe. Bashungwa alisema kuwa kugharamia miradi ya maendeleo kwa njia mbadala kutaiwezesha Serikali kujielekeza katika maeneo mengi zaidi na kuboresha maisha ya watanzania.
“Fedha zote zilizohitajika kwa ajili ya utekelezaji wa Mradi wa Tanga UWASA hivi sasa zimepatikana, Wizara ya Fedha itaendelea kufuatilia kwa karibu kuhakikisha kuwa mradi huu unatekelezwa kwa mafanikio kama ilivyopangwa”, alisema Mhe. Bashungwa.
Alisema kuwa Hatifungani hiyo ina thamani ya shilingi bilioni 53.1 ikiwa ni ya kwanza kutolewa na Taasisi ya Serikali kwa utaratibu wa ugharamiaji wa miradi ya maendeleo kwa njia mbadala (APF).
Mhe. Bashungwa alisema kuwa kwa kuzingatia taarifa iliyotolewa tarehe 30 Aprili, 2024 na Tanga UWASA na kuidhinishwa na Mamlaka ya Masoko ya Mitaji na Dhamana (CMSA) inaonyesha jumla ya shilingi bilioni 54.72, zimekusanywa ikiwa ni juu ya lengo la kukusanya shilingi bilioni 53.12 sawa na ufanisi wa asimilia 103, ambapo fedha hizo zitawezesha kuboresha miundombinu ya maji na kuongeza uzalishaji maji mara mbili ya uwezo uliopo sasa wa lita za ujazo 30,000 hadi lita za ujazo 60,000 na kuhakikisha upatikanaji wa maji ya kutosha ili kukidhi mahitaji ya sasa na yajayo.
MAKONDA AIPONGEZA CRDB MSAADA WA PIKIPIKI KWA JESHI LA POLISI ARUSHA
Makonda amesema sekta ya utalii ina umuhimu mkubwa katika uchumi na maendeleo ya wananchi nchini kwani ndiyo inayoongoza kwa kuliingizia taifa fedha nyingi za kigeni, ikiwa ya pili kwa kuchangia kwenye Pato la Taifa, na ya tatu kwa kutoa ajira.
Mwaka 2020, sekta ya utalii ilichangia asilimia 10.6 kwenye pato la taifa ila kiasi hichi kilishuka hadi asilimia 5.7 mwaka 2021 kutokana na athari za UVIKO-19 hivyo kuilazimu Serikali kuchukua hatua za makusudi kuifufua kwa kufuata taratibu za Shirika la Afya Duniani (WHO) na kufanya matangazo kimataifa kwa Rais Samia Suluhu Hassan mwenyewe kurekodi filamu ya ‘The Royal Tour.’
CRDB YAWAKARIBISHA WANAHISA KWENYE MKUTANO MKUU WA 29
Arusha 16 Mei 2024 - Benki ya CRDB inatarajia kufanya Mkutano Mkuu wa 29 wa Wanahisa siku ya Jumamosi tarehe Mei 18 kuanzia saa 2 asubuhi katika Kituo cha Kimataifa cha Mikutano cha Arusha (AICC). Taarifa hiyo imetolewa leo katika mkutano na waandishi wa habari uliofanyika Hoteli ya Gran Melia ambapo Benki ya CRDB pia ilizindua Ripoti yake ya Mwaka na Ripoti ya Uendelevu kwa mwaka 2023.
Mkutano huo unafanyika kufuatana na Sheria ya Makampuni namba 212 ya mwaka 2002, ambapo kila mwaka Benki ya CRDB imekuwa ikiandaa mkutano huo unaowapa Wanahisa fursa ya kujadili masuala mbalimbali ikiwa ni pamoja na kupitisha au kuidhinisha maamuzi mbalimbali yenye maslahi kwa Benki.
Dkt. Laay alisema kupitia mtandaoni Wanahisa wataweza kujiunga kuanzia saa 2:00 asubuhi kupitia link https://escrowagm.com/crdb/login.aspx au kupitia SimBanking App, ambapo imewekwa sehemu ya ya kujisajili kushiriki Mkutano Mkuu.
“Tumeweka muongozo wa jinsi ya kushiriki mkutano mkuu kwa njia ya mtandao kupitia tovuti yetu ya www.crdbbank.co.tz, mitandao yetu ya kijamii, lakini pia maelekezo yametumwa kwa ujumbe mfupi kwa Wanahisa,” alisema Dkt. Laay huku akiwahakikishia kuwa Benki hiyo vizuri katika kuhakikisha wanashiriki bila chanagamoto yoyote.
Mwenyekiti wa Bodi ya Wakurugenzi ya Benki ya CRDB, alisema pendekeo hilo la ongezeko la gawio kwa hisa linatokana na Benki ya CRDB kuendelea kupata matokeo mazuri sokoni ambapo mwaka wa fedha ulioisha ilipata faida baada ya kodi ya Shilingi 423 bilioni ukilinganisha na Shilingi 351 bilioni mwaka 2022.
Dkt. Laay amesema Semina hiyo ambayo pia itaambatana na maonyesho ya wanufaika wa programu ya IMBEJU itafunguliwa na Rais wa Serikali ya Mapinduzi Zanzibar, Dkt. Hussein Ali Mwinyi.
Nsekela alitumia fursa hiyo pia kuwahamasisha wanahisa wa Benki ya CRDB kujitokeza kwa wingi kwani ushiriki wao utaiwezesha Bodi na Menejiment kupata maoni yao ya namna bora ya kuboresha utendaji wetu.
FROM SMARTPHONES TO TVs: THE IMPORTANCE OF DATA SECURITY IN EVERY DEVICE
Dar es Salaam: Who would have thought that there would come a day when data protection for your smartphone would be applied the same to your TV?
Yes, your TV also needs protection for your personal information. Advancements in Information and Communication Technology (ICT) have led to the integration of different digital devices connected by the Internet of Things (IoT). For example, now someone can manage and monitor the usage patterns of various home appliances at home such as televisions, washing machines, ovens, and air conditioners from anywhere and at any time with the assistance of features such as Map View which is available through the SmartThings app on Android and iOS mobile devices.
This integration requires users of these devices to input their personal information to connect and be able to manage them conveniently from anywhere. Thus, people surrender their personal information such as names, phone numbers, emails, and passwords.
However, this is another benefit derived from the advancements in technology and communication. But how do we protect ourselves from the risks that come with these changes? Most people assume that because a television is a device we use and leave at home or in our workplaces, it's not at risk of being exposed to cybercrime.
The truth is, that we should be careful and ensure the security of our personal information on all technological and communication devices we use.
In acknowledging this, Samsung introduced the Knox in 2013 to protect its operating systems and electronic devices.
Thursday 16 May 2024
DKT. NCHEMBA AFANYA MAZUNGUMZO NA MKURUGENZI WA ECOBANK
Waziri wa Fedha, Mhe. Dkt. Mwigulu Lameck Nchemba (Mb), akizungumza na ujumbe wa Ecobank Tanzania (hawapo pichani) ulioongozwa na Mkurugenzi Mkuu wa Benki hiyo, Bw. Charles Asiedu, jijini Dodoma. |
SAMSUNG ELECTRONICS NAMED NO.1 IN GLOBAL OLED MONITOR MARKET
- Company achieves 34.7% of global OLED monitor market share within just one year of its first OLED monitor launch.
- Company maintains leadership in overall global gaming monitor market for fifth consecutive year, based on total revenue.
According to the International Data Corporation (IDC), Samsung Electronics has taken the top position in the global OLED monitor market by capturing 34.7% of market share based on total revenue and the top position in market share based on sales volume with 28.3% of OLED monitors sold in 2023.
“The OLED monitor market is highly competitive, so reaching the top spot requires unparalleled innovation and product quality,” said Hoon Chung, Executive Vice President of Visual Display Business at Samsung Electronics. “This achievement speaks to our drive for excellence and understanding of consumer needs, the key factors in producing outstanding OLED monitors for performance-demanding gamers around the globe.”
Samsung has also maintained its leadership in the overall global gaming monitor market for the fifth consecutive year, recording a market share of 20.8% in terms of total revenue.
NMB UNVEILS PENSION SOLUTION FOR SELF-EMPLOYED TANZANIANS
NMB Bank has debuted a special savings and retirement service package for self-employed Tanzanians that guarantees them a secure financial future.
Trading as NMB Jiwekee, the novel solution unveiled on Monday in Dar es Salaam is expected to benefit many people in the informal sector where pension uptake is still very limited.
Retail Banking Chief Filbert Mponzi said the innovation has many benefits, including life insurance coverage that has indemnity of up to TZS 50 million.
“NMB Bank has had similar solutions to support Tanzanians and help our customers but this one is a bit different because it has a long term added value advantage,” Mr Mponzi noted.
He added that eligibility to join the service requires only commitment of the percentage to be deducted from whatever amount is deposited in the customer’s account.
And that is between one and 100 percent, the consumer banking expert explained, noting that the savings that are supposedly not to be withdrawn for at least five years will earn an annual interest rate of five percent.
“Preparing people for a prosperous and financially secure life after retirement by making savings from current earnings is what the NMB Jiwekee service is all about,” Mr Mponzi stated.
According to him, the retirement solution principally targets those not formally employed and whose futures are not secured by the national social security system.
Wednesday 15 May 2024
NMB YAZINDUA RASMI 'NMB JIWEKEE' - HIFADHI PESA KIDIJITALI
Kwa mara ya kwanza nchini, tumezindua rasmi NMB Jiwekee, yenye lengo la kuhifadhi pesa kidijitali kwa ajili ya maisha ya baadae.
Kupitia NMB Jiwekee, mteja ataweza:
- Kuweka kati ya asilimia 1-100 ya kipato kinachoingia kwenye akaunti yake na anaweza kubadilisha muda wowote
- Kuhifadhi hela kwenye NMB Jiwekee kuanzia miaka 5 na kuendelea
- Kuvuna riba shindani na ataipata kila baada ya miezi mitatu
- Kusitisha uchangiaji kwa muda kutokana na mahitaji, bila ya kutoa pesa zake kwenye NMB Jiwekee, na ataweza kuendeleza uchangiaji wakati wowote kupitia NMB Mkononi
- Hakuna kiingilio wala makato
- Kuweka amana katika NMB Jiwekee kupitia mitandao ya simu, benki zingine na mifumo yetu yote
- Kuangalia salio na taarifa za michango yako kupitia NMB Mkononi
Pia, mahojiano yaliongozwa na @millardayo huku mada za utunzaji pesa zikitolewa na @lamataleah pamoja na @masoudkipanya.
NMB YAZINDUA AKAUNTI YA UWEKAJI KIFUTA JASHO KIDIJITALI KWA WAJASIRIAMALI
Tuesday 14 May 2024
EXIM BANK, CHAMA CHA MSALABA MWEKUNDU WAPANDA MITI NA KUCHANGISHA DAMU
Dodoma, 11 Mei 2024: Exim Bank imeshirikiana na Chama cha Msalaba Mwekundu Tanzania (TRCS) pamoja na Mpango wa Damu Salama Tanzania (NTBS) kupanda miti na kuendesha zoezi la uchangiaji damu katika maadhimisho ya Siku ya Msalaba Mwekundu Duniani yaliyofanyika jijini Dodoma ambapo Mgeni Rasmi alikuwa Dkt Dotto Biteko, Naibu Waziri Mkuu na Waziri wa Nishati.
NMB FIRST TANZANIAN BANK TO LIST AT LONDON STOCK EXCHANGE
- NMB marks another milestone as the first corporate bond from Tanzania to be listed at London stock exchange
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