CAREER OPPORTUNITIES (CLUSTER HEADS) - EXIM BANK TANZANIA

Exim Bank (Tanzania) Limited is one of the fastest growing regional bankS and one that is offering a wide spectrum of banking products and services. Exim Bank (Tanzania) Limited promotes equal employment opportunities and provides a conducive and challenging work environment for existing and potential employees to fully realize their potential. The bank now wishes to recruit qualified and highly motivated Cluster Heads.

Position; Cluster Heads

Reporting to; Head- Retail

Location; Various

PURPOSE OF JOB

The purpose of the role to meet branch Retail and SME Financial Targets through a World class Sales and Service Management system and within established product programs through the branch.

In concert with Central Operations Unit to operate and maintain a smooth running and operationally efficient branch, that conform to the financial institutions and BOT regulations, rules and guidelines issued from time to time. This will include servicing corporate customers.

  

CAREER OPPORTUNITIES (BRANCH MANAGERS) - EXIM BANK TANZANIA

Exim Bank (Tanzania) Limited is one of the fastest growing regional banks and one that is offering a wide spectrum of banking products and services. Exim Bank (Tanzania) Limited promotes equal employment opportunities and provides a conducive and challenging work environment for existing and potential employees to fully realize their potential. The bank now wishes to recruit qualified and highly motivated branch managers. 

Position; Branch Managers

Reporting to; Head of Retail Banking

Location; Various

PURPOSE OF JOB

To meet the branch retail and SME financial targets through a world class sales and service management system and within established product programs through the branch.

To work closely with central operations unit to operate and maintain the smooth running and operationally efficiency of the branch, that conform to the financial institutions and BOT regulations, rules and guidelines issued from time to time. This will include servicing corporate customers.

CAREER OPPORTUNITIES - ADVANS BANK TANZANIA

Advans Bank Tanzania, a commercial bank licensed by Bank of Tanzania, offers career 

opportunities to highly skilled and motivated professionals. The institution is part of an international network of financial institutions worldwide (www.advansgroup.com) which provides adapted financial services to micro, small and medium-sized enterprises. The Bank would like to invite suitable candidates to apply for the position of Senior Database Administrator. 

SENIOR DATABASE ADMINISTRATOR - ref DBA/ADVTAN/IT/MAY2014 

REPORTING TO: IT MANAGER 

Key responsibilities: 

• Day to day database administration tasks including, creating, modification and developing new core banking system (ORBIT) reports, modification of data quality check files, extraction of information to operations and Bank of Tanzania credit reference and end of day (EOD) backup. 
• Creation of various reports e.g. birt reports, SQL extract.
• Help the bank by providing innovative ideas which can improve and support business development. 
• Help desk support in branches and head office in various applications operating within the bank. 
• Periodic visits to branches and solve various IT issues. 
• Creation of new products/features and setup of items the in core banking system. 
• Monitoring closely all e-banking channels including ATM applications, mobile banking and agency banking applications. 
• Managing database administrators in the team. 

EXCLUSIVE INTERVIEW BETWEEN PRESIDENT JAKAYA KIKWETE AND TANZANIAINVEST

President Jakaya Kikwete in an exclusive interview with Eric Tirabassi of TanzaniaInvest

TanzaniaInvest had the pleasure to conduct an exclusive interview with H.E. Dr. Jakaya Kikwete, President of the United Republic of Tanzania. In the interview TanzaniaInvest and President Kikwete discuss the current state of the economy and the government forecasts for the coming years, the investment opportunities available, the upcoming oil & gas industry and the government commitment to reach the country’s 2025 vision to take Tanzanians out of poverty and become a Middle Income Country.

TanzaniaInvest: Tanzania is a brilliant example of a developing country experiencing sustained economic growth, with GDP growth consistently averaging 7% for the last ten years. How do you explain these impressive macroeconomic performances? Will such strong growth continue?

Jakaya Kikwete: When you look at the Tanzanian economy, having been in situations where at some point we had negative growth and difficulties, certainly the strong macroeconomic performances we witness now are a function of the implementation of economic reforms and sound economic policies that were introduced in the second half of the 1990’s, aimed at bringing our macroeconomic indicators back on track.

However I believe we should be able to do much more. 7% GDP growth is not adequate at our level of development meaning our level of poverty. Being a Least Developed Country (LDC) we want to move people out of poverty and for that we need a higher growth rate.

We were almost there and then the global economic crunch hit us in 2009 when our GDP growth rate went down to 6%, although expectation were 5%, which is proof of the level or resilience that the Tanzanian economy has reached.

We expect a GDP growth rate of 7.2% this year [2014] and if everything goes well we will reach 8-10% in the medium term.

We expect a GDP growth rate of 7.2% this year [2014] and if everything goes well we will reach 8-10% in the medium term. 

TI: Within this growth vision, which roles are Foreign Direct Investments (FDIs) expected to play?

JK: FDIs have a critical role because where there is no investment there is no growth. That’s why we are very keen on receiving constant inflows on investments, both international and local.

As a poor country obviously there is not much investment available locally therefore we look at attracting more FDIs and we have been successful in doing so. In 2005 we received USD 150 million worth of FDIs while in 2013 we received USD 1.7 billion.

Click here for the full exclusive interview courtesy of TanzaniaIvest

DAR ES SALAAM STOCK EXCHANGE MARKET REPORT AS AT FRIDAY, 16 MAY 2014

In the Friday, 16th May 2014 trading session, Dar es Salaam Stock Exchange (DSE) recorded a total turnover of TZS 386.64 million from 131,129 shares traded in 44 deals in comparison  to the previous session which recorded a turnover of TZS 149.43 million from 171,405 shares traded in 50 deals. Meanwhile on the  Government Bond Market Board, a 5 year 9.18% bond with face value of 3 billion was traded at TZS 82.400% in 1 deal and a ten 11.44% bond with face value of 7.6 billion was traded at TZS 86.200% in 1 deal. 

The CRDB Bank counter had 52,900 shares traded at weighted average price of TZS 325 ex dividend per share in 14 deals. The NMG counter had 2,200 shares traded at weighted average price of TZS 3,100 per share in 11 deals. The National Microfinance Bank (NMB) counter had 45,600 shares traded at a weighted average price of TZS 2,980 cum dividend per share in 8 deals. The Tanzania Breweries Limited (TBL) counter had 25,029 shares traded at a weighted average price of TZS 8,140 per share in 8 deals. The Tanzania Cigarette Company (TCC) counter had 500 shares traded at weighted average price of TZS 10,000 per share in 1 deal. The Tanzania Portland Cement (TWIGA) counter had 300 shares traded at weighted average price of TZS 2,460 per share in 2 deals. Foreign investors generated a total turnover of TZS 59.20 million from the purchase of 4,600 NMB shares. On pre-arranged crossing board, the TBL counter had 22,000 shares traded at TZS 8,300 per share in 1 deal.

When the session was closed the CRDB counter had 478,500 shares on bid at prices ranging from TZS 320 to TZS 300 ex dividend per share and 86,700 shares on offer at TZS 325 ex dividend per share. The Dar es Salaam Community Bank (DCB) counter had 89,100 shares on offer at TZS 480 and TZS 490 cum dividend per share. The NMB counter had 29,300 shares on bid at TZS 2,980 and TZS 2,960 cum dividend per share and 400 shares on offer at TZS 3,000 cum dividend per share. The TWIGA cement counter had 16,600 shares on offer at TZS 2,460 and TZS 2,660 per share. The TBL counter had 78,900 shares on bid at TZS 8,120 and TZS 8,100 per share and 400 shares on offer at TZS 8,140 per share. The TCC counter had 200 shares on bid at TZS 10,000 per share. The Tanga Cement (SIMBA) counter had 26,500 shares on offer at TZS 2,420 ex dividend per share. The Tanzania Oxygen Limited (TOL) counter had 37,500 shares on bid at TZS 400 and TZS 450 per share. The Tanzania Tea Packers Limited (TATEPA) counter had 50,400 shares on offer at TZS 650 per share. The SWISSPORT counter had 5,500 shares on bid at TZS 2,700 and TZS 2,600 ex dividend per share. The MAENDELEO Bank counter had 20,300 shares on offer at TZS 600 per share. The Precision Ai (PAL) counter had 169,700 shares on offer at prices ranging from TZS 400 to TZS 495 per share. The KA counter had 1,100 shares on offer at TZS 990 per share.

Click here for the full market report

Click here to see the domestic companies listed on the Dar es Salaam Stock Exchange

HEAD OF BARCLAYS INVESTMENT BANKING IN ASIA TO STEP DOWN

LONDON — The head of investment banking for Asia at the British lender Barclays is stepping down as the bank prepares to radically reshape its business.

The executive, Matthew Ginsburg, who joined the bank in September 2009, is looking at other senior roles internally, according to a person familiar with the matter.

Mr. Ginsburg, a Boston native, is likely to pursue a position outside Asia, where he has spent the bulk of his career, said the person, who was not authorized to discuss the matter publicly. Mr. Ginsburg was the head of investment banking for the Asia-Pacific region at Morgan Stanley before joining Barclays.

Barclays declined to comment Thursday.

Andrew Jones, co-chief executive for the Asia-Pacific region, will assume the role as interim head of investment banking for Asia Pacific until a permanent successor is named, according to an internal memo reviewed by The New York Times.

SMEs TO BENEFIT FROM STANDARD CHARTERED LENDING DRIVE

Standard Chartered Bank Tanzania has commenced a campaign to empower small and medium-sized entrepreneurs (SMEs) to promote the country’s economy.

The campaign, which will run up to the end of July this year, will see the Bank’s SME customers enjoying reduced rates to key transactions within the SME sector.

In a press release issued by the Bank, the bank’s Head of the SME segment, Amin Merchant, said customers will benefit from reduced charges on telegraphic transfers, popularly known as TTs, as well as a fifty per cent reduction on payroll services.

He also added that another significant feature of the campaign is that the Bank’s customers will not be charged monthly maintenance fees for the duration of the campaign. ‘This exciting campaign is part of Standard Chartered Banks Global digitisation agenda’, said Mr. Merchant in the press release.

Mr. Merchant explained that Straight2Bank and digitisation is the future of banking.

AGRICULTURE DOMINATES CRDB BANK PORTFOLIO

CRDB Bank Managing Director, Dr. Charles Kimei

Despite the deliberate measures to reduce exposure to the agricultural sector, the sector continued to dominate the CRDB bank credit portfolio accounting for 20% of the total loan portfolio. According to the CRDB Bank Managing Director, Dr. Charles Kimei, loans and advances extended to the agricultural sector continued to be high compared to other sectors like trading, transport, manufacturing, hospitality and individual.

“For example, loans and advances to agriculture in the year ended 31st December 2013 amounted to TZS 378 billion, which is 20% of the total loan portfolio,” he told shareholders in the just ended CRDB Annual General Meeting (AGM) held in Arusha.

Dr. Kimei told reporters in a separate interview that the bank recognises the significance of agriculture to the economy, particularly its contribution to poverty alleviation and thus would continue extending loans and advances to the sector.

AKIBA COMMECIAL BANK SET TO OPEN BRANCH IN MWANZA

Akiba Commercial Bank (ACB) plans to open a branch in Mwanza region this year, bringing to 17 the number of branches in the country.

Speaking in Dar es Salaam, ACB Head of Marketing and Communication, Mr. Fredrick Archard, said that the opening of Mwanza branch is the continuation of the bank’s expansion strategy.

“Many financial institutions in the country have been struggling to expand the scope of their services inline with the government’s goal of financial inclusion.

That is why Akiba Commercial Bank is now opening more branches in the country to ensure many people in need of financial services are served,” he said.

WELCOME TO M-PAWA. PAPERLESS BANKING BROUGHT TO YOU BY COMMERCIAL BANK OF AFRICA AND VODACOM

Welcome to M-Pawa
This is a revolutionary banking product from Commercial Bank of Africa (CBA) and Vodacom that allows you to save money through your phone, earn interest from your savings and eventually get micro loans when you need them. M-Pawa is here as a reliable friend who will give you a helping hand to move forward and see your plan through in life. With M-Pawa you will be able to open and operate a savings account on your mobile phone, via M-Pesa without having to visit the bank or fill out any forms.

• You will save as little as TZS 1 and earn interest on the savings balance. Interest is calculated daily and paid out at the end of each calendar quarter.
• M-Pawa enables you to access micro loans from a minimum of TZS 1,000 anytime and receive the loan instantly via your M-Pesa account.
• You will be able to move money between your M-Pawa saving account and M-Pesa  account free of charge.
• There is no minimum balance on M-Pawa.
• M-Pawa is simple, reliable, instant and convenient.
• There are no ledger fees.

If you believe that access to formal banking services shouldn't be a hassle, then M-Pawa is for you.

What are the requirements for accessing the M-Pawa service?

In order to access the M-Pawa service, you need to;

• Be a registered and active Vodacom Tanzania customer.
• Have an active M-Pesa account.
• Have any of the following identification documents :- Tanzanian passport, National ID, Voters ID, Driving license, Company ID or Local Government letter.

Click here for Frequently Asked Questions (FAQ)

Click here for Terms & Conditions

EXIM BANK’S FIRST QUARTER PRETAX PROFIT UP BY 42%

Exim Bank Tanzania Chief Finance Officer, Mr. Selemani Ponda (Centre) briefs journalists at a news conference to announce the bank’s financial results for the first quarter of 2014 in Dar es Salaam yesterday. Looking on is Head of Treasury, Mr. George Shumbusho (first left) and Seniour Finance Manager, Mr Issa Hamisi (first right).

EXIM Bank Group 1st quarter (Q1) 2014 pretax profit rose by 42% to TZS 6.4 billion from the same period last year as per recently published results.

“We are pleased to report good results to start the year,” said Selemani Ponda, Exim Bank Chief Finance Officer. “Strong top-line revenue growth reflects the success of the Bank’s highly diversified income streams. We continue to improve upon operational efficiency to optimize our customers’ satisfaction. “Our Bank is continuing to move in the right direction. We are making progress towards fulfilling our ambitions. Our Q1 results show that we have had an encouraging start to the year,” he added.

Net interest income, grew by 27% from the same period in 2013 to TZS 12.5 billion. Fees and commission income increased by 37.4% from the same period in 2013, to TZS 8 billion, driven by volume growth on foreign exchange trading activities and trade finance products following the implementation of 3-year strategy plan.

PRESIDENT JAKAYA KIKWETE LAUNCHES VODACOM AND COMMERCIAL BANK OF AFRICA'S M-PAWA SERVICE

Vodacom Tanzania Managing Director, Rene Meza welcomes President Jakaya Kikwete to Mlimani City Hall, where the launch of M-Pawa took place. Looking on is Commercial Bank of Africa Board Chairman, Ndewirwa Kitomari and Vodacom Tanzania Board Chaiperson, Ambassador Mwanaidi Maajar.

 President Jakaya Kikwete (3rd left) together with (from left), CBA Board Chairman, Ndewirwa Kitomari, Vodacom Tanzania Board Chairperson, Ambassador Mwanaidi Maajar, Vodacom Tanzania Managing Director, Rene Meza, Minister of Communication, Science and Technology, Professor Makame Mbarawa, CBA Group Chairman Desterio Oyatsi and CBA Group Vice Chairman, Muhoho Kenyatta soon after the President launched the M-Pawa service in Dar es Salaam yesterday.

 Invited guests follow proceedings at the launch of the M-Pawa service.

 President Jakaya Kikwete (2nd right) sharing a light moment with the Minister of Communication, Science and Technology, Professor Makame Mbarawa and Vodacom Tanzania Managing Director, Rene Meza.

Artists performing during the launch of the M-Pawa service.

Vodacom M-Pesa subscribers can now save and borrow money using their mobile phones.

What’s more, the subscribers will also earn interest on their M-Pesa savings account in a new product by the company that will entrench its position as the market leader.

Through the facility called M-Pawa, Vodacom’s customers will be able to borrow from Commercial Bank of Africa (CBA) for a first in Tanzania’s vibrant telecommunication sector.

President Jakaya Kikwete launched the initiative yesterday at a colourful ceremony in Dar es Salaam. He said M-Pawa will accelerate access to financial services, particularly credit to common Tanzanians.

ACCESS BANK SUPPORTS DAR SCHOOL

Access Bank Senior Marketing Officer, Jonas Muganyizi (right) hands over a computer set to representatives of Azania Secondary School students during an event to handover 10 computers in Dar es Salaam yesterday. Looking on is the school's Headmaster, Mr. Bernard Ngozie.

Access Bank has provided 10 sets of computers worth over TZS 2 million to Azania Secondary School in Dar es Salaam, as part of a programme to promote the application of Information Communication Technology (ICT) in secondary schools in the country.

The school had 25 computers to be shared between more than 2,000 students and 115 teachers. The Deputy Headmaster for Azania Secondary School, Ms. Elizabeth Ngoda, said that as the world moves into the 21st century, technology has become more and more important to the society.

“Computers are very important tools which people need to assist them in their daily lives. Though we have been able to purchase a few computers for our students, they are not enough as the number of students increases each year,” she said.

EXCLUSIVE INTERVIEW WITH MIZINGA MELU, MANAGING DIRECTOR OF NATIONAL BANK OF COMMERCE (NBC)

Mizinga Melu, Managing Director, National Bank of Commerce

TanzaniaInvest recently conducted an exclusive interview with Mizinga Melu, Managing Director of National Bank of Commerce (NBC), the longest serving bank in Tanzania. TanzaniaInvest and Mizinga discussed the Tanzanian banking sector, NBC's focus and positioning, innovation and development, corporate responsibility and Foreign Direct Investment (FDI).

To access the full exclusive interview courtesy of TanzaniaInvest, click here

CAREER OPPORTUNITIES - DIAMOND TRUST BANK (DTB)

Established over 68 years ago as a finance house, Diamond Trust Bank has today grown into a leading commercial bank offering a wide spectrum of banking services. Through its affiliation in Uganda, Kenya and Burundi, DTB has a regional presence that none of the peer banks can boast of and has been ranked among the top 10 successful banks in Tanzania.

DTB has 19 branches in Tanzania, and expects to open new branches in Dar es Salaam, Mwanza and Mtwara and is therefore looking for competent and qualified individuals to fill in the following positions;

1. Head of Internal Audit - Head Office, Dar es Salaam
2. Deputy Head of Finance - Head Office, Dar es Salaam
3. Deputy Head of Risk - Head Office, Dar es Salaam
4. Manager, Sales & Marketing - Head Office, Dar es Salaam
5. IT Risk Manager - Head Office, Dar es Salaam
6. Assistant Manager / Officer Internal Audit - Head Office, Dar es Salaam
7. Human Resources Officer - Head Office, Dar es Salaam
8. Branch Managers (new branches in Dar es Salaam, Mwanza and Mtwara)
9. Officers, Branch Banking (new branches in Dar es Salaam, Mwanza and Mtwara)

Detailed job specifications can be obtained as follows;

• Daily News newspaper dated Monday, 12th May 2014
• The Guardian newspaper dated Wednesday, 14th May 2014

If you meet the requirements, e-mail your CV and covering letter to recruitment@diamondtrust.co.tz by Saturday, 24th May 2014.

Tel: +255 22 211 4891/2

Fax: +255 22 212 4244

MORTGAGE LOAN UPDATE - CRDB BANK DISBURSES MORTGAGE LOANS WORTH TZS 1.4 BILLION

CRDB Bank has disbursed 31 mortgage loans worth TZS 1.4 billion since the introduction of the product about a year ago, which is a sign of the fast growing housing sector in the country.

Presenting the bank’s financial statements to about 29,466 shareholders during the Annual General Meeting (AGM) held last Saturday in Arusha, CRDB’s Managing Director Dr. Charles Kimei said a total of 59 mortgage loan application were received in the year ended 31st December 2013 with a total value of TZS 7.8 billion.

“This is a positive growth and the focus of the bank is to become the market leader in the mortgage loan-book value as well as number of customers,” noted Dr. Kimei, adding that, “It is an opportunity for Tanzanians, especially the youth to own homes and avoid the inconveniences caused by renting houses.”

He said the bank introduced the mortgage loan product branded as “Jijenge” in 2013 offering loans for home acquisitions.

It has a long term loan repayment period of up to 20 years offered for the acquisition of residential properties through home purchase, construction or refurbishment.

With the Jijenge product, he said CRDB believes that problems of how to source long term finances for construction, purchasing and renovation of houses will soon become history.

It is estimated that at present individuals take up to 10 years to put up a simple family house due to regulations associated with what it takes to get a mortgage.

Jijenge product attracts an interest rate of 18% as well as 1% insurance cover for the mortgage loan.

Dr Kimei added that Jijenge is progressively bringing about peace of mind to would be builders when it comes to constructing and owning a home.

The package also caters for a loan to rehabilitate and renovate a house.

The eligibility for the mortgage loans is spread to workers, entrepreneurs, farmers and fishermen with the interest rate being easily recouped through the appreciation of the value for the house as time goes.

Statistics from the National Housing Corporation (NHC) show that the current demand for homes in the country stands at 3 million units.

The demand is increasing at an average of 200,000 units a year but only 15,000 houses are constructed annually.

NOTICE OF THE 14TH ANNUAL GENERAL MEETING OF THE MEMBERS OF NATIONAL MICROFINANCE BANK (NMB) PLC

Notice is hereby given that the 14th Annual General Meeting of NMB shareholders will be held at the Julius Nyerere International Convention Centre in Dar es Salaam on Saturday, 7th June 2014 at 10:00 a.m. The agenda will be as follows:

1. Notice and quorum
2. Adoption of the agenda
3. Confirmation of the minutes of the 13th annual general meeting held on 1st June 2013
4. Matters arising from the previous minutes
5. To receive, consider and adopt the Directors' report and audited financial statements for the year ended 31st December 2013
6. Dividend declaration for the financial year 2013
7. To receive and approve the proposal for Directors' remuneration
8. Resignation and appointment of Directors
9. To receive and approve appointment of external auditors for the financial year 2014
10. Any other business

Important notes

1. Members wishing to attend the meeting must come with one of the following; a copy of his/her depository receipt, passport, voters ID card or bank card.
2. A member entitled to attend and vote at the meeting is entitled to appoint a proxy to attend and vote on his/her behalf in accordance with the provisions of the Articles of the Company. The proxy form must be submitted at the registered office of the company not later than 10:00 a.m. on Friday, 6th June 2014.
3. Members wishing to attend the meeting will have to attend at their own cost. Copies of the annual report and proxy forms will be available in NMB branches.
4. Directors propose payment of TZS 90 per share amounting to TZS 45 billion out of 2013 profit. In 2012, a dividend payment of TZS 68 per share, amounting to TZS 34 billion was approved and paid.

Date of announcement of results - 9th May 2014

Shares trading cum div - 9th May 2014

Last day of trading cum-dividend - 28th May 2014

Shares start trading ex-div - 29th May 2014

Register Closing Date (Books Closure Date) - 2nd June 2014

Payment of dividend - on or about 18th June 2014

By order of the Board

Lilian R. Komwihangiro

Company Secretary

9th May 2014 

CRDB BANK SHAREHOLDERS DIVIDEND INCREASES BY 2%

CRDB Bank shareholders approved a dividend payment of TZS 14 per share proposed by the board during the Annual General meeting (AGM) held in Arusha over the weekend, which is 2% from 2012 dividends.

The shareholders also retained PricewaterhouseCoopers as the bank’s auditors for the financial year 2014. This follows the bank’s impressive performance in the year ended 31st December 2013 after posting a TZS 122.7 bilion pre-tax profit, which is a 13% increase compared to TZS 108 billion posted in the year ended 31st December 2012.

CRDB Bank Board Chairman, Mr. Martin Mmari, attributed the growth in profit to the revival of foreign exchange related income to its normal trend, growth in net interest income and fees and commissions coupled with strong costs management.

“We are focused on ensuring high shareholders returns as reflected by earnings per share and partly by the dividend paid per share. We recommended a TZS 14 per share and I am happy to note that the same has been approved by the shareholders,” said Mr. Mmari.

BUSINESS AT DAR ES SALAAM STOCK EXCHANGE PICKS UP

Turnover at the Dar es Salaam Stock Exchange (DSE) rose by 21.32% to TZS 913 million, from TZS 789 million with a boost from the National Microfinance Bank (NMB) and CRDB Bank activities that contributed 35% of the week’s value.

A significant market recovery is expected in the coming weeks, particularly from the banking, finance and investment sector.

According to weekly wrap-ups produced by Zan Securities Limited, the DSE all share index went down by 12.27 points or 0.6% and closed at 2,028.41 points while the local shares index (TSI) ended in the green by 0.32%.

The banking, finance and investment sectors gained 25.71 points or 0.94% to close at 2,773.99 while Commercial Services index and Industrial and Allied index remained flat during the week.

DSE market capitalisation decreased by 0.42% to 17,955.00, inversely, domestic market capitalization went up by 0.32%.

CRDB BANK SET TO OPEN NEW BRANCHES IN DRC

CRDB Bank is set to venture into the Democratic Republic of Congo (DRC) by opening a branch in some of the country's cities. According to Dr. Charles Kimei, Managing Director of CRDB BANK, CRDB intends to start with the establishment of a branch at Kivu and later on another one at Goma, to tap into the movement of traders who commute between the two towns and linking to Tanzania via Burundi and Zambia.

"There is money there but no banks and business men and women want financial services to aid and ease their transactions as well as to protect their hard earned cash" stated Dr. Kimei while speaking to the media over the weekend. 

EXIM BANK SUPPORTS MWANANYAMALA HOSPITAL MATERNITY WARD

Exim Bank Tanzania Assistant Marketing Manager Anita Goshashy (third left) hands over mattresses to Mwananyamala Hospital Chief Medical, Dr. Sophinias Ngonyani (Second left). Looking on are other Exim Bank Tanzania staff. Exim Bank donated 60 mattresses to a maternity ward at Mwananyamala Hospital in Dar es Salaam over the weekend to mark Mother's Day. 

Exim Bank Tanzania marked mother’s day by donating 60 mattresses to a maternity ward at Mwananyamala Hospital in Dar es Salaam to show its respect to all mothers and also to complement efforts to improve maternal health in the country.

So far, Mananyamala Hospital which is a major referral hospital in Dar es Salaam serves an average of 3,100 expectant mothers every month, while it has only 136 beds and beddings for the maternity ward.

Speaking during the handover ceremony held at the hospital premises over the weekend, Exim Bank Assistant Marketing Manager Anita Goshashy said the donation is part of   an implementation of their Corporate Social Responsibility (CSR) activities to the community.

DCB COMMERCIAL BANK PLC ANNUAL GENERAL MEETING

NOTICE OF THE 12TH ANNUAL GENERAL MEETING

Notice is hereby given that the 12th Annual General Meeting of the Shareholders of DCB Commercial Bank Plc will be held on 24th May 2014 at Diamond Jubilee Hall, Upanga, Dar es Salaam at 9:00 a.m.

1. Members wishing to attend the meeting will do so at their own costs and must come with a copy of his/her depository receipt together with a voter's card, employment card or passport for identification purposes. Copies of the annual report and proxy forms will be available at the Head Office situated at DCB House, Magomeni and in its branches as well as to Licensed Dealing Members of the Dar es Salaam Stock Exchange (Stock Brokers) from 15th May 2014.
2. A member who is entitled to attend and vote at the meeting and is unable to attend, can appoint a proxy to attend and vote on his/her behalf by submitting his/her name to the Company Secretary at the registered office of the bank not later than 14:00 hours on Thursday 22nd May 2014. In case of a corporate entity, the proxy must be under its common seal.
3. Subject to Bank of Tanzania clearance and shareholder's approval, the Board of Directors recommend a dividend payment for the year ended 31st December 2013 of TZS 27 per share, to be paid to the shareholders in line with the company policy of paying 50% profit after tax on dividend.
4. Shareholder's proposals should be submitted to the Bank's Head Office no later than 14:00 hours on Wednesday, 21st May 2014. 
5. DCB shares will be traded as follows;

• Starting date of trading cum-div - 30th April 2014
• Last day of trading cum-div - 20th May 2014
• Starting date of trading ex-div - 21st May 2014
• Register closing date - 23rd May 2014
• Payment of dividend - from 16th June 2014

BY ORDER OF THE BOARD

Caroline Mmasi Mduma (Mrs)

Company Secretary

WOMEN'S BANK DISHES OUT TZS 20 BILLION LOANS

Tanzania Women's Bank (TWB) has dished out over TZS 20 billion to women entrepreneurs and the youth in order to enable them expand their business ventures. The Bank's Managing Director, Ms. Margaret Chacha told a new conference in Dar es Salaam over the weekend that in less than 4 years since the bank was established, TWB has reached out to more women entrepreneurs and the youth.

"Our loans to these entrepreneurs have been very instrumental in expanding their businesses and the loan repayment is encouraging", Ms. Chacha explained. She said the bank has realised that empowering women entrepreneurs and the youth goes a long way in contributing to socio-economic development and growth.

"It is the bank's conviction that women and the youth are good contributors to the economy", she said, adding that the two groups consist of the majority of the population and therefore needed strong support to turn around the economy.

According to Ms. Chacha, TZS 17.6 billion was released to entrepreneurs in Dar es Salaam, TZS 1.3 billion in Dodoma and TZS 686 million in Mwanza.

"Since we are currently spreading our wings upcountry, the bank has also dished out TZS 178 million to entrepreneurs in Mbeya and TZS 366 million to entrepreneurs in Ruvuma region", she noted. 

CAREER OPPORTUNITIES

BARCLAYS BANK TANZANIA

Role: Head of Risk
Grade: Vice President
Division: Risk
Location: Dar es Salaam

Employment nature:
Contract of unspecified period of time (previously referred to as permanent contract)

Barclays Bank Tanzania seeks to recruit an experienced professional Head of Risk reporting to the Managing Director. The job holder will be a member of the Country Management Committee (CMC), over seeing the risk function and actively participating in defining strategic objectives to support the business. The incumbent will also participate in business planning and setting the direction of the business in line with Group strategy.

Job Purpose

• Risk representative on CMC and other Committees. 
• Chair of Horizontal Review Forum or similar, and member of the Risk Controls Committee and the Country Watch list & Impaired Debt Committee ensuring robust oversight, reporting and effective management and control of principal risks.
• To drive significant change initiatives supporting the One Risk and One Africa strategy, ensuring effective communication and management of key stakeholders.  
• Working to ensure that the country strategic objectives are delivered within the risk appetite framework set by the Barclays Africa - Executive and Group Risk.
• Accountable for ensuring the right people, processes, policies, systems are in place to achieve cost effective and efficient risk management within the country that is aligned to strategic objectives and Group Risk Target Operating Model. 

BANK OF AFRICA LOWERS INTEREST RATES ON HOME LOANS

In a bid to facilitate many Tanzanians to own houses, Bank of Africa Tanzania Limited (BOA) has reduced its interest rates on home loans from 18% to 16% per annum. However, this offer is only valid for 6 months.

A Senior Marketing Officer with the bank, Solomon Haule told journalists in Dar es Salaam recently that the offer seeks to help many more people to access home loans from BOA and ultimately own houses. "The offer will last for 6 months" said Haule. The bank has also increased the repayment period from from 15 to 20 years. Haule further mentioned that in order for one to be eligible for a home loan from BOA, he/she should have a monthly salary of TZS 1.4 million or married couples with a combined monthly salary of TZS 2 million.

Haule mentioned that a home loans from BOA can assist a people to buy low cost houses being built by various institutions such as National Housing Corporation (NHC), National Social Security Fund (NSSF) and Parastatal Sector Pension Fund (PSPF). "People can also buy houses from individuals", said Haule.

JUST IN: LAWRENCE MAFURU JOINS CRDB BANK BOARD

Mr. Lawrence Nyasebwa Mafuru has been appointed to join CRDB Bank as an Independent Director. He will therefore be sitting in CRDB Bank Board Meetings as a Board Member.

Mr. Mafuru served as National Bank of Commerce Managing Director from June 2010 until December 2012. He also served as Tanzania Bankers Association Chairman from January 2010 until December 2012.

Mr. Mafuru now works in the President's Delivery Bureau (PDB) under the Big Results Now (BRN) initiative as the Director of Resource Mobilisation and Economic Sectors Division.

BARCLAYS DASHES ITS GLOBAL DREAMS

Barclays's headquarters in London. The bank said it would focus on less-risky activities as it trims its operations across the world.

U.K. Lender to Cut Investment Bank Nearly in Half, Retrench in Western Europe.

LONDON — Barclays BARC.LN -0.88% PLC, abandoning its ambitions to be an elite global bank, said it would cut its investment bank nearly in half and exit retail-banking businesses in Western Europe.

The U.K. lender said it would cut 7,000 jobs at its investment bank by 2016, part of efforts to trim 19,000 positions across all the bank's divisions over the next three years.

The bank faces many of the same difficulties that are casting a shadow over much of the global investment-banking landscape. Some, like Barclays, which have been especially reliant on revenue from fixed-income, currencies and commodities trading, have seen profits fall sharply as clients have pulled back from bond trading because of persistently low and stable interest rates. A wave of investment-banking scandals also has pushed up compliance costs and changed the economics of the business.