CRDB TO CROSS LIST ON NAIROBI BOURSE

CRDB Bank shareholders welcomed the decision to cross list the bank's shares on the Nairobi Stock exchange (NSE). A move that would expand the market for the bank's shares.

Speaking at the bank’s Annual General Meeting in Arusha yesterday, shareholders observed that by cross listing onto NSE, the volume of trading of the bank’s shares will go up and that would ultimately push up the share prices, as well as the returns to shareholders.

Mr. Iddi Rajabu Chongi from Moshi, Kilimanjaro Region said expanding wings to Nairobi’s bourse was an important step that would help in tapping the vast market opportunities available in the East African Region.

He, however, cautioned the bank's management to take all the necessary precautions to ensure there is a smooth entrance and growth. Mr. Laurean Malauri, a shareholder and stock broker said business at the Dar es Salaam bourse is small, thus the bank’s decision to cross list onto the Nairobi bourse.

WHAT I LEARNED FROM BILL GATES

BANKING & FINANCE UPDATE - REGISTRATION OF PRIVATE SECTOR FOREIGN LOANS WITH THE BANK OF TANZANIA

The Bank of Tanzania requires that all foreign loans from the private sector in Tanzania are registered with them. In this banking update, we look at what this registration means in practice.

Private Sector Foreign Loans (PSFL) can be defined as the total amount of arrears that is owed to foreign lenders from private sector businesses. These lenders may include commercial banks, citizens, governments or international financial institutions. The involvement of the private sector in economic activity through external borrowing has increased in Tanzania and the rising trend has been for companies to borrow money from foreign commercial banks and other financial institutions rather than from the more expensive domestic market.

Requirements / Procedure for Registration

Section 57 of the Bank of Tanzania Act, 2006 (BoT Act) authorises the Bank of Tanzania (BoT) to demand public offices, banks and financial institutions as well as private enterprises or any organization within Tanzania, to provide any information the Bank considers necessary for the collection of any monetary or financial statistics on the financial sector. Section 57 (4-5) of the BoT Act stipulates that should a public office, bank, private enterprise or financial institution fail to comply with the BoT request for such

financial records, they will be subject to punishment of different degrees

for every day of non-compliance with this order. These penalties are in the form of fines.

CRDB BANK INCREASES DIVIDENDS

As CRDB Bank kicks off the bank’s Annual General Meeting in Arusha today its management has announced that it has upped the dividend payments from the previous TZS 12 to TZS 14 per share.

The CRDB Bank Board Chairman, Mr Martin Mmari revealed that effective from this year, the bank has increased the share pay-out by TZS 2 in line with their new dividend policy, which stipulates a disbursement ratio of at least 35 per cent of the Bank’s annual net profit.

The Bank’s after tax profits is was TZS 84 billion an increase of TZS 3 billion from last year’s profits, a performance that resulted from growth of shareholders’ funds from TZS 317 billion in 2012 to TZS 376 billion by the end of 2013.

The growth is equivalent to an increase of 19% in the CRDB shareholders’ funds.

RAIS KIKWETE AMTEUA BWANA RISHED BADE KUWA KAMISHNA MKUU WA MAMLAKA YA MAPATO TANZANIA (TRA)

Rais wa Jamhuri ya Muungano wa Tanzania, Mheshimiwa Jakaya Mrisho Kikwete amemteua Bwana Rished Bade kuwa Kamishna Mkuu wa Mamlaka ya Mapato Tanzania (TRA).

Kulingana na Katibu Mkuu Kiongozi Balozi Ombeni Sefue, uteulzi huu umeanza tarehe 06 Mei, 2014.  Bwana Bade anachukua nafasi iliyoachwa wazi na Bwana Harry Kitilya ambaye alistaafu tarehe 14 Desemba, 2013.

Kabla ya uteuzi huo, Bwana Bade alikuwa Naibu Kamishna wa Mamlaka ya Mapato Tanzania tangu Septemba, 2012 na baadaye kukaimu nafasi ya Kamishna Mkuu wa Mamlaka ya Mapato Tanzania tangia Bwana Kitilya alipostaafu.

RISHED BADE APPOINTED NEW TRA COMMISSIONER GENERAL

President Jakaya Kikwete has appointed Rished Bade as the Commissioner General of Tanzania Revenue Authority (TRA). Bade who was TRA's Deputy Commissioner General, fills in the vacancy left by Harry Kitilya, who retired on 14th December 2013. Bade was the Acting Commissioner General since the retirement of Kitilya.

According to a statement issued by State House, the appointment is effective from 6th May 2014.

Before joining TRA in September 2012, Bade worked with Bank of Tanzania, Akiba Commercial Bank, African Banking Corporation, Barclays Bank as well as Tanzania Mortgage Refinance Company Limited (TMRC).  

CRDB TO CROSS-LIST ON NAIROBI BOURSE

CRDB Bank will soon be listing its equities on foreign bourses including Kenya's Nairobi Stock Exchange (NSE). The CRDB Bank Managing Director, Dr. Charles Kimei, told a news conference in Arusha yesterday that cross-listing on NSE would boost the value of the bank's shares.

Dr. Kimei was briefing the press on the preparations of the bank's annual conference for 2014, scheduled to start tomorrow, to be followed by shareholders Annual General Meeting (AGM) on Saturday.

Dr. Kimei said that the cross-listing was also being driven by the East African Community (EAC) integration and regional banks which are to play major roles, especially broadening labour and business relations.

The price of a CRDB Bank share has been going up recently, standing at TZS 330 per share, nearly double the amount at the initial public offer (IPO).

A PRESENTATION BY LIZ LLOYD, CEO OF STANDARD CHARTERED BANK TANZANIA

THE FUTURE OF BANKING: CHANGING OPPORTUNITIES

A PRESENTATION BY LIZ LLOYD, CEO OF STANDARD CHARTERED BANK TANZANIA LIMITED

WEDNESDAY 14 MAY, RESIDENCE OF THE BRITISH HIGH COMMISSIONER
SPONSORED BY STANDARD CHARTERED BANK TANZANIA LTD

Liz Lloyd was appointed Chief Executive Officer, Standard Chartered Bank Tanzania, in January 2013.

She is responsible for providing leadership for the bank in Tanzania. Prior to this, Liz was the Group

Head of Public Affairs for Standard Chartered Bank, a role in which she was responsible for

coordinating the Bank’s policies and positioning on all political and regulatory matters.

Before joining Standard Chartered Bank, Liz was a special adviser to the then Prime Minister, Rt.

Hon. Tony Blair, across a number of fields including Home Affairs, Africa and Climate Change. From

2005-2007 she was Deputy Chief of Staff at Rt Hon. Tony Blair’s office. She was awarded a CBE by HM Queen Elizabeth II in2008. Liz, who is married with two children, enjoys swimming and cycling (safely).

UKAT paid-up members who register to attend may bring a guest for a contribution of 20,000 TSh.

See flyer for booking details.

Places Limited. First come – first served.

UK Events Team

STANBIC BANK HOLDS DRAW FOR DEPOSITORS' CAMPAIGN

Stanbic Bank Tanzania Head of Personal and Business Banking, Paul Omara (second right) presses a laptop during the bank's grand draw of its campaign dubbed 'Switch' where a resident of Kahama township in Shinyanga, Frank Msilu won a brand new Volkswagen Amarok Highline MT worth TZS 82 million. A brief ceremony was held at the bank's headquarters in Dar es Salaam yesterday. From left are Ag. Head of Marketing and Communications, Desideria Mwegelo, Head of Personal Markets, Lilian Kitomari and Gaming Board of Tanzania Inspector, Abdallah Hemed.

Ag. Head of Marketing and Communications, Desideria Mwegelo making a point to journalists during the Stanbic Bank "Switch" campaign draw held yesterday at the Stanbic Bank Head office in Dar es Salaam. Looking on is Stanbic Bank Tanzania Head of Personal and Business Banking, Paul Omara and Abdallah Hemed from Tanzania Gaming Board. Frank Msilu from Kahama district won a brand new Volkswagen Amarok Highline MT worth TZS 82 million. 

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Stanbic Bank Tanzania, a member of Standard Bank Group, yesterday held a raffle for a draw of its campaign dubbed 'Switch'. The campaign aimed at encouraging depositors began on 28th January 2014 and attracted 1,296 participants.

The draw held at Stanbic Bank's Head Office in Dar es Salaam and supervised by the Tanzania Gaming Board saw one lucky customer winning a brand new Amarok Highline MT worth TZS 82 million. Stanbic Bank's Head of Personal and Business Banking, Mr. Paul Omara, told a news conference that "although we have picked the winner of our big prize today, we still encourage the public and our existing customers to open current accounts with us and continue enjoying more benefits.

The campaign, which runs until end of July 2014, aims at attracting individuals, middle and young professionals, business owners and corporates.

EXIM BANK SHOWCASES ITS MORTGAGE PRODUCT

Exim Bank Tanzania Retail Officer Ms Helen Moka (first left) shows Minister for Lands, Housing and Human Settlement Developments, Prof. Anna Tibaijuka, Exim Bank brochures with details on home loan products offered by the bank during the DarPropertyExpo Exhibition held at Diamond Jubilee Hall in Dar es Salaam over the weekend. Looking on (second left) is Exim Bank Marketing Executive Fatma Kilinda. 

Exim Bank Tanzania Retail Officer Ms Helen Moka (left) explains to customers on the features of home loan products offered by the bank, during the DarPropertyExpo Exhibition held at Diamond Jubilee Hall in Dar es Salaam over the weekend.

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In an effort to support mortgage finance in the country, Exim Bank Tanzania has embarked on a program to showcase its "NYUMBA YANGU" product in various exhibitions.

The awareness campaign aims at ensuring that many individuals get to understand the benefits of home loans to the county’s economic growth.  

Speaking during the DarPropertyExpo Exhibition held at Diamond Jubilee Hall in Dar es Salaam at recently, Exim Bank Tanzania Retail Officer Ms Helen Moka said her bank supports government’s efforts to help its citizens own homes in a stress free environment.

NMB YAZINDUA KAMPENI MPYA YA JIHUDUMIE

Benki ya NMB imezindua kampeni mpya ya Jihudumie yenye lengo la kuwezesha upatikanaji wa haraka wa huduma mbalimbali za benki hiyo. Akizindua kampeni hiyo jijini Dar es Salaam Afisa Mtendaji Mkuu wa NMB, Bw. Mark Wiessing alisema mbali ya upatikanaji wa huduma haraka, kampeni hiyo itawezesha huduma kupatikana muda wowote na mahali popote.

Sasa wateja wa NMB wanaweza kupata huduma bila kwenda katika tawi la NMB. “Tunapenda kuwafahamisha wateja wetu kwamba sasa wanaweza kupata huduma za kibenki kupitia simu za mkononi na njia nyingine mbadala kama mashine za ATM, huduma za benki kwa njia ya intaneti, PesaFasta na Akaunti ya Chap Chap,” alisema Wiessing.

kupitia kampeni hiyo, NMB imeweza kuzingatia mahitaji ya msingi ya wateja wake, ikiwemo uhakika wa huduma za kibenki na uwezo wa kuzipata wakati wowote na mahala popote.
“Kwa kubonyeza tu kitufe cha simu, fedha itaweza kutoka kwenye akaunti yako ya NMB kwenda mahala pengine popote kama vile kwenye malipo ya LUKU, kulipia muda wa maongezi wa simu na hata kuweza kutoa kiasi kinachofikia shilingi milioni moja kupitia mashine za ATM,” alisema.

Baada ya uzinduzi huo mwendelezo ulifanywa kwa matawi yote ya benki hiyo jijini Dar es Salaam, wateja wa benki hiyo walisifia kampeni hiyo, wakisema imelenga kuwapunguzia adha, usumbufu na kuokoa muda wa kupata huduma za kibenki.

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Afisa Mkuu wa Fedha wa benki ya NMB Bw. Waziri Barnabas (kushoto) akimpa maelekezo ya kutumia huduma ya kifedha ya Jihudumie Frances Mbena katika tawi la Kariakoo Dar es Salaam wakati wa uzinduzi wa huduma hiyo.

Afisa Mkuu Operesheni na Mawasiliano wa NMB Bw. Pete Novat (kulia) akimwelekeza mteja katika tawi la NMB Temeke jinsi ya kujisajili na huduma ya NMB mobile kupitia mashine ya ATM.

Afisa Mkuu wa Ukaguzi wa ndani wa benki ya NMB Bw. Augustino Mbogella (Kulia) akielimisha wateja katika tawi la NMB Sinza kuhusu huduma za jihudumie ambazo ni, NMB mobile, PesaFasta, NMB ATM, NMB ChapChap account, POS, NMB Tigo Pesa, NMB M-Pesa na NMB inakubalika hapa.

NMB BANK LAUNCHES SELF-SERVICE PRODUCT - 'JIHUDUMIE CAMPAIGN'

NMB Bank launched 'Jihudumie Campaign' geared at offering customers all services that are accessible through the bank's self-service channels.

With 'Jihudumie,' NMB customers will be offered with an instant account opening that will allow them to conveniently deposit and withdraw money through self-service channels.

The NMB Chief Executive Officer, Mr Mark Wiessing, said at the launch that, "We want to tell our customers that they can access banking services by themselves with the services associated with NMB mobile and other alternative channels like ATM's, internet banking, Pesa Fasta and Chap Chap account."

He added, "The 'Jihudumie campaign' will thus focus on educating and adding value towards NMB customers' needs."

KIMEI LAUNCHES A WELL IN IRAMBA DISTRICT

CRDB BANK Managing Director, Dr. Charles Kimei (centre) launches a well at Kinambeu Secondary School in Iramba District, Singida Region over the weekend. He is flanked by the Iramba District Commissioner, Mr. Yahaya Nawanda and Project Manager from an NGO (Nkwamira) Ms. Noreen Mazalla.

FinScope TANZANIA 2013

A peaceful revolution is taking place in Tanzania. For the first time people in rural as well as urban areas, women as well as men, the young and old, rich and poor - all can have access to financial services through their mobile phones. And they are – in their millions.

What do Tanzanians do with their hard-earned money? How do they save? Where do they choose to borrow from? Who do they turn to for credit? Do people in Kilimanjaro behave differently from those in Ruvuma?

The answers to all these questions can be found in the new FinScope Tanzania 2013 survey launched on 2nd April 2014, at the Bank of Tanzania. Measuring demand for and access to financial services of all kinds across every region of the Mainland and Zanzibar, the survey paints an intricate picture full of detail and some surprises.

NBC MANAGING DIRECTOR CALLS FOR PROMOTION OF WOMEN

In a strategy to continue creating equal opportunities, NBC's Managing Director, Mizinga Melu said the contribution of women to the country must now be valued significantly.

The MD said this at a symposium organised by women workers of Vodacom Tanzania as part of exchanging experiences and capacity building for female workers.

She told the participants that being a mother and a Managing Director, she was facing multiple challenges in terms of family and official responsibilities.

"The struggle of freeing women started a long time ago, and now we see the fruits. The challenge among many women now is carrying great responsibilities of the family, no matter the authority or responsibility a woman has at her work place. She will be responsible to ensure that the children have a shower, eat and go to school" said Mizinga.

"There are many women with these roles and still have continued to hold their positions and make a big difference in the community and within their families", she explained.

Mizinga commended NBC for efforts made by the company to provide opportunities for women who have enabled the firm to achieve great success.

Mizinga further more commended Vodacom Tanzania for its programmes in support of women such as fighting fistula. She said the firm had also made over 8,000 women access loans through the MWEI scheme.

TANZANIAN BANK REQUESTS PERMISSION TO GIVE LOANS VIA MOBILE PHONES

The Commercial Bank of Africa (CBA) had applied to the Bank of Tanzania (BOT) for permission to give small-scale loans via mobile platforms.

Based on its application, CBA is planning to initiate loans up to TZS 500,000 per applicant using Vodacom M-Pesa mobile money transfer service.

Assessment of applicants’ creditworthiness and financial situation would be done by the bank with the help of mobile service providers.

BOT Legal Counsel Mr George Sije commented: “We are working on the request. The central bank is also preparing guidelines for the lending services through mobile financial services”.

BOT Governor Professor Benno Ndulu mentioned that banks should embrace and adopt new products.

BENKI YA NBC YATOA ELIMU YA KIFEDHA KWA WATEJA MJINI MOROGORO NA KUFUNDISHA WATOTO KUSOMA JIJINI DAR

Mkuu wa Wilaya ya Morogoro, Said Amanzi (kushoto) akipokea kitabu chenye mafundisho ya kifedha yanayofuata maadili ya kiiislamu kutoka kwa Meneja Tawi wa Benki ya NBC Morogoro, James Ndimbo wakati wa semina iliyoandaliwa kwa wateja wanaotumia huduma za kibenki zinafuata misingi ya kiislamu (NBC Islamic Banking ), iliyofanyika mjini humo hivi karibuni. Anayeangalia ni Mwenyekiti wa Chama cha Wafanyabiashara wenye Viwanda na Kilimo (TCCIA) Mkoa wa Morogoro, Bachoo S. Bachoo.

Meneja wa Benki ya NBC Tawi la Industrial, Judith Motta, (kulia) akiwafundisha kusoma baadhi ya watoto wanaolelewa katika kituo cha Child in the Sun ikiwa ni sehemu ya mpango wa mameneja wa benki hiyo kanda ya Dar es Salaam hivi karibuni kujitolea muda wao kufundisha kwenye vituo mbalimbali vya watoto wanaoishi katika vituo vya watoto wenye mahitaji. Wanafunzi wapatao 27 katika kituo hiki kinachokusanya watoto toka mitaani na kuwalea chini ya uangalizi wenye maadili mzuri na mafunzo ya kazi za mikono hawajui kusoma wala kuandika.

Baadhi ya watoto wanaolelewa katika kituo cha Child in the Sun kilichopo Mbezi Makabe wakifanya mazoezi ya kusoma na kuandika baada ya kutoka madarasani walikkofundishwa na timu ya Mameneja wa matawi ya NBC yaliyoko Kanda ya Dar Salaam. Tathmini ya wiki ya tatu inaonyesha watoto wote wameshajua kusoma na kuandika na changamoto inayofuata ni kuunganisha maneno na kutunga tungo zenye kuleta maana.

DAR MICRO-LENDER LAUNCHES EDUCATION PROTECTION POLICY

Bayport Financial Services, a micro lending institution in Tanzania, has launched an Education Protection Policy aimed at securing the education of children in case their parents or guardians pass away. With a minimum payment of TZS 2,500 per month, the child's basic education costs are covered by up to TZS 3 million.

Speaking at the launch of the product recently, Bayport Marketing Manager, Ngula Cheyo said the company's aim was to come up with a product which was new in the industry and catered for the mass after seeing that there was a huge gap.  

BAYPORT YAZINDUA BIMA YA ELIMU

Bayport yazindua Bima Ya Elimu, kwenye hafla ndogo kwenye ofisi ya Wizara ya Maendeleo ya Jamii, Jinsia na Watoto. Kuanzia mkono wa kushoto katika picha ni Mhe. Sophia Simba (Waziri) akifutiwa na wawakilishi wa Bayport Financial Services Maneja Masoko Ngula Cheyo na Matthew Mbaga, Meneja wa Bima.

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Bayport Financial Services, ambayo ni moja kati ya wakopeshaji wakubwa kwa ajili ya wafanyakazi imezindua mpango wa bima kwa ajili ya elimu. Mfumo huo wa bima ni kwa ajili ya kuendeleza elimu kwa watoto pale ambapo wazazi wao wanafariki. Kwa kiwango cha chini cha TZS 2,500 kwa mwezi, bima hii ni nafuu kwa wafanyakazi wenye kipato cha chini na inamhakikishia mwanafunzi kupata mahitaji yake ya msingi katika elimu.

Akiongea katika ufunguzi wa huduma hii mpya jana, Meneja Masoko wa Bayport Financial Services, Ngula Cheyo aliwaeleza waandishi wa habari kwamba lengo la kubuni huduma hii ni kutokana na kuwepo kwa pengo kwenye soko la huduma ambayo inakidhi watu wenye kipato kidogo. ‘Kuwepo kwetu hapa Tanzania kwa muda mrefu kumetupa fursa ya kutambua kuwa huduma ya bima haiwafikii watu wengi na huduma hii ingewanufaisha watanzania wengi ambao wanajali watoto wao’, alisema Ngula.

Katika uzinduzi huo uliofanyika ofisini kwake, Waziri wa Maendeleo ya Jamii, jinsia na Watoto, Meshimiwa Sophia Simba, aliisifu kampuni ya Bayport Financial Services kwa kuzindua huduma hii ambayo itasaidia kupunguza mzigo kwa ndugu wa mfiwa na kuhakikisha motto anaendelea na elimu yake. ‘Elimu ni haki ya kila mtoto na huduma hii itapunguza wanafunzi ambao wanaacha shule kwa sababu ya kushindwa kulipa ada pindi wazazi au walezi wao kufariki. Elimu inasaidia watanzania wengi kujikomoa na umasikini na kusiwe na pingamizi yoyote kwa mtoto kutoipata,’ alisema Mheshimiwa Simba.

Wazazi na walezi wanauwezo wakuchagua jinsi ya kulipa na idadi ya wanafunzi wanaotaka kuwalipia bima hii. Bima hii inapatikana katika matawi yote ya Bayport ambayo yamesambaa katika mikoa yote hapa nchini. Matthew Mbaga ambaye ni Meneja wa Bima pia alieleza waandishi pia umuhimu na manufaa ya bima hii katika uzinduzi huo.

NMB DECLARED BEST BANK IN TANZANIA

The National Microfinance Bank (NMB) has been named the best bank in Tanzania in the East African Bank Awards for 2014.

In the awards ceremony held recently in Nairobi, Stanbic Bank won the runner up position for Tanzania and the young and fast upcoming Bank M was named the third best in the country.

Only four banks from Tanzania featured in the competition that was dominated by banks from Kenya, which scooped most of the awards.

The annual competition is organised by Think Business Limited of Kenya to enhance competition among banks with a view to promoting efficiency and expansion in provision of financial services in the region.

FBME was named the best bank for Tanzania in the category of customer satisfaction.