RAIS KIKWETE AZUNGUMZA NA RAIS ZUMA NA RAIS KABILA, ZIMBABWE

Rais Dkt.Jakaya Mrisho Kikwete akizungumza na Rais Jackob Zuma wa Afrika ya Kusini pamoja na Rais Joseph Kabila wa Jamhuri ya Demokrasia ya Kongo (DRC) wakati wa dhifa ya kitaifa iliyoandaliwa na Rais Robert Mugabe wa Zimbabwe kwa ajili ya viongozi wa SADC wanaohudhuria mkutano wa 34 wa wakuu wa nchi za SADC unaofanyika katika mji wa Victoria Falls nchini Zimbabwe. (Picha na Freddy Maro).

Michuzi Blog

TANZANIA: BRN CHAMPIONS CHALLENGED TO DELIVER

Mr. Peniel Lyimo.

NEW members of staff employed to monitor implementation of the Big Results Now (BRN) Programme have been challenged to do away with the tendency of working in business as usual model.

The call was issued yesterday in Dar es Salaam by the Deputy Chief Executive Officer of the President's Delivery Bureau (PDB) which oversees the BRN Programme, Mr. Peniel Lyimo during the opening of the First Annual Strategic BRN Staff Retreat in Dar es Salaam.

The meeting which will include presentations on the one year of implementing the transformation Programme from the PDB CEO, Mr. Omari Issa and case studies on project implementation from Malaysia will also expose the champions to best ways to oversee the BRN.

BARCLAYS PAPER REVEALS EXTENT OF LEGAL BATTLES WORLDWIDE

A Barclays document sent to shareholders has laid bare the full extent of the bank's legal woes, ranging from continuing court tussles over rigging interest rates to allegations of ripping off its own clients.

As the bank battles to restore its tarnished reputation, the investor prospectus makes clear it faces multimillion-pound payouts and years of costly litigation.

Although the prospectus was published as part of a £60bn programme of bond sales, more than 10% of the 146-page document is devoted to "risk factors" – or wrongdoing, whether alleged or proven.

FIRST OPENLY GAY CEO WELCOMED ON NEW YORK STOCK EXCHANGE

'Leaders who feel comfortable being open about their sexual orientation are more productive and engaged'.

Wall Street executives voiced support for C1 Financial Chief Executive Officer Trevor Burgess, who Thursday became the first openly gay CEO of a bank traded on the New York Stock Exchange.

Bloomberg News reports that C1 Financial, based in St. Petersburg, Florida, priced its $44.7 million initial public offering this week. The firm was created in 2009 when Burgess, a former Morgan Stanley investment banker, and three other investors took over the Community Bank of Manatee, ultimately acquiring other lenders in the state.

FORBES: TANZANIAN TYCOON MOHAMMED DEWJI RAISES $260 MILLION FOR BUSINESS EXPANSION

Mo Dewji

Tanzanian business tycoon Mohammed ‘Mo’ Dewji has secured loans amounting to $260 million from a consortium of banks to support his METL conglomerate’s expansion activities across Africa.

Two weeks ago, Star Oils Limited, an energy distribution company owned by Dewji, and a subsidiary of METL Group, received a $60 million syndicated loan from Tanzania’s National Bank of Commerce, Barclays Bank of Mauritius and ABSA.
Star Oils owns and operates gas stations in the East African country, and is currently building a petroleum tank storage facility near the Dar es Salaam Port. When completed, the facility will have a storage capacity of 68 million liters, for the storage of gasoline (petrol), gas oil (diesel) and kerosene.

In an email statement, Dewji said the loan would help Star Oils to “boost its production and distribution capacity to fulfill demand in the East and Southern Africa market.”

INDIAN PREMIER SETS GOAL OF BANKING ACCESS FOR ALL

Prime Minister Narendra Modi speaking in New Delhi on Independence Day. His plan to make banking available to all households could help elevate them from poverty, he said.

NEW DELHI — In a speech meant to set a national agenda for his new government, Prime Minister Narendra Modi on Friday announced plans to make bank accounts available to every Indian family, a complex goal that, if successful, could allow the government to eventually convert subsidies for food, fuel and fertilizer into cash transfers.

Mr. Modi’s Independence Day speech came about two months after a landslide victory in parliamentary elections and amid daunting expectations that his Bharatiya Janata Party would return India to the path of economic growth and create jobs for the millions of young people who enter the labor market every year.

Mr. Modi, 63, departed from the formal style of his predecessors, speaking for more than an hour without notes and describing himself as a newcomer to the capital, “untouchable to the elite class of Delhi.” He also refused the screen of bulletproof glass that has been erected to protect previous prime ministers.

SIX JAILED 32 YEARS EACH FOR BANK RAID

The building in Moshi that houses the NBC Moshi branch, which was robbed of Sh5.3 billion in 2004.  Six people were yesterday jailed for 32 years each for the crime.

Moshi. Five Kenyans and a Tanzanian were yesterday jailed for 32 years each for robbing a bank in Moshi ten years ago.

The Moshi Resident Magistrate’s Court found the six guilty of robbing the Moshi branch of the National Bank of Commerce (NBC) of Sh5.3 billion on May 21, 2004.

Those jailed include Jumanne Kilongola, a Tanzanian bishop with the Christian Fellowship Assemblies of God.

TANZANIA: HOW CHINESE FIRMS WIN LUCRATIVE DEALS

In comparison, says Dr Lu, Tanzania government saved about $2.5 billion by hiring Chinese firms in road construction. Tanzania is presently one of China’s most favoured destinations in Africa as shown in newly released data of Beijing aid, loan and trade in the continent—which show that the country received $5.07 billion from China as loans, grant and aid between 2001 and 2012.

But, some analysts question whether roads built by Chinese cheaply have for money in terms of durability and quality. Not only that, but the so-called $600,000 price per kilometre is also not realistic, according to one prominent road engineering consultant who spoke to The Citizen yesterday.

The source who declined to be named because he is an interested party, who works very close with Tanzania National Road Agency (Tanroads), said: “The charges mentioned by Chinese Ambassador is out-dated…It was used a decade ago, but today, charges per kilometre of tarmac road is between $850,000 and $1 million, depending on the design and nature of the works.

STRONG LENDING DRIVES UP NATIONAL MICROFINANCE BANK (NMB) PROFIT

NMB Chief Executive Officer, Mark Wiessing

THE National Microfinance Bank (NMB) has posted net profit of 44.33bn/-during the quarter ended June this year, compared to 33.14bn/- registered in the corresponding period 2013, thanks to the increased lending activities issued to customers.

According to the NMB Bank financial report published yesterday in Dar es Salaam, the amount issued as loans, advances and overdrafts increased to 1.89tri/- from 1.72tri/- during the first quarter of 2014. Net interest income reached 97.99bn/- compared to 97.14bn/- of the previous quarter.

Apart from lending, which is the core business banking NMB Bank registered remarkable successes in foreign currency dealings and translation as well as fees and commission.

TANZANIA SETS UP SPECIAL UNIT TO SCRUTINISE GAS REVENUES AND WEALTH FUND

Dar es Salaam — Tanzania's government is forming a special unit to monitor its natural resource revenues from major gas discoveries that promise to lift the country from poverty and free it from dependency on foreign aid in the coming decades.

The east African nation has enough natural gas, more than 50.5 trillion cubic feet discovered so far, to provide energy independence and bring significant export revenues. But Tanzania lacks experience in exploiting oil and gas, so relies on contracts with foreign companies such as Statoil of Norway and ExxonMobile to develop its immense offshore finds.

At the same time, the country has a poor track record on corruption and has seen limited benefits from its wealth in gold, diamonds and uranium, raising considerable citizen concern over prospects for the millions of dollars in gas revenues expected to flow into the Tanzanian treasury.

STANDARD CHARTERED BANK OFFICIALS VISIT TANZANIA VICE PRESIDENT'S OFFICE

“Standard Chartered Bank’s Chief Executive Officer for the Eastern Africa region and Kenya, Lamin Manjang, (centre), speaks to the Hon. Vice President, Dr. Mohamed Gharib Bilal, when the Bank’s Officials visited him at his office earlier this week. Left is the Bank’s Chief Executive Officer for Tanzania, Liz Lloyd.

PRESIDENT JAKAYA KIKWETE CHALLENGES DIASPORA TO LOBBY FOR DUAL CITIZENSHIP

PRESIDENT Jakaya Kikwete has urged Tanzanians in the Diaspora to persuade and illustrate the significance of dual citizenship to members of the Constituent Assembly (CA) to ensure the issue is included in the ongoing debates for the envisaged new constitution.

The second draft of the constitution which is presently being debated by members of the CA in Dodoma did not contain the matter of dual citizenship.

"I don't have the authority to force it into the CA but it is your case and you can well present it to the members of the assembly for consideration in the new constitution," Mr Kikwete said.

TANZANIA: HIGH COURT CAN STOP IPTL CASE GOING TO ICJ

THE government will not be taken to the International Court of Justice (ICJ) if the High Court will invalidate a decision calling for recalculation of tariffs paid to Independent Power Tanzania Limited (IPTL).

This was said at the High Court in Dar es Salaam by advocate Joseph Makandege, for IPTL and Pan African Power Solution Limited (PAP), in his rejoinder submission to support an application for injunction, pending hearing and determination of a main case for 5.3tr/- claims.

The decision at hand was issued by the International Centre for Settlement of Investment Disputes (ICSID) early this year, requiring Tanzania Electric Supply Company (Tanesco) to sit with Standard Chartered Bank (Hong Kong) Limited (SCBH) to recalculate IPTL power tariffs.

WASHINDI WA SHINDANO LA UWEKEZAJI 'DSE SCHOLAR INVESTMENT CHALLENGE 2014' WAPATIKANA JIJINI DAR

Mshindi wakwanza wa shindano la uwekezaji “DSE Scholar Investment Challenge 2014” Laurent Dyanko kutoka chou kikuu cha kilimo, Sokoine University of Agriculture (SUA) akikabidhiwa zawadi wa shilingi milioni moja na cheti cha ushindi.

Mshindi wapili wa shindano la uwekezaji “DSE Scholar Investment Challenge 2014” George Firimini kutoka chuo cha usimaniza wa fedha, Institute of Finance Management (IFM) akikabidhiwa zawadi wa shilingi laki sita na cheti cha ushindi.

Mshindi watatu wa shindano la uwekezaji “DSE Scholar Investment Challenge 2014” Godlove Kellya kutoka chuo kikuu cha Dar es Salaam akikabidhiwa zawadi ya shilingi laki nne na cheti cha ushindi.

Washindi watatu bora shindano la uwekezaji “DSE Scholar Investment Challenge 2014” Laurent Dyanko, George Firmini na Godlove Kellya katika picha ya pamoja na mwakilishi kutoka benki ya NMB, Mkuu Wa Kitengo cha Njia za Huduma Mbadala, Bw, George Kivaria.

Afisa mtendaji mkuu wa Dar es Salaam Stock Exchange akiongea na wanafunzi walioshiriki katika shindano la uwekezaji “DSE Scholar Investment Challenge 2014” wakati wa hafla ya kuwatambua wanafunzi hamsini bora na uandaaji wa mchakato wa kutafuta washindi watatu bora wa shindano hilo. Katikati ni bwana George Kivaria  mwakilishi benki ya NMB (wadhamini wa mashindano) kushoto ni Sosthenes Kewe  Mkurugenzi wa taasisi ya uendelezaji wa huduma za fedha.

Michuzi Blog

BENKI YA DIAMOND TRUST (DTB) YATANGAZA MAFANIKIO YAKE MAKUBWA KWA NUSU MWAKA WA 2014

Afisa Mtendaji Mkuu wa Benki ya Diamond Trust (DTB), Bwa. Viju Cherian akizungumza mbele ya Waandishi wa Habari (hawapo pichani), jana ndani ya moja ya ukumbi wa mikutano Serena Hotel jijini Dar kuhusiana na ripoti ya nusu mwaka wa 2014 kuhusu utendaji wa benki hiyo kwa ongezeko kubwa la faida kabla yakodi (profit before Tax - PBT) ya sh. billioni 10.3 ikiwa ni  asilimia 38 ikilinganishwa na kipindi kama hicho mwaka 2013 sambamba na mafanikio makubwa iliyoyapata benki hiyo.

Bwa. Viju alisema kuwa mwaka 2014 unatoa matumaini ya kuwa mwaka mwingine mzuri kibiashara kwa DTB,alisema kuwa mafanikio yalipatikana katika maeneo yote muhimu ya urari wa mahesabu ya mwaka.''Benki yetu inajivunia kwa mara nyingine kupata faida kubwa ikilinganishwa na benki zingine shindani ikiwa na ongezeko la asilimia 44 katika biashara ya fedha za kigeni na ongezeko la asilimia 30 katika mikopo. Pichani shoto ni Mkuu wa kitengo cha Fedha na Utawawala Bwa. Joseph Mabusi pamoja na mwisho kulia ni Mkuu wa Kitengo cha Masoko Bwa. Sylvester Bahati.

Michuzi Blog

RAIS JAKAYA KIKWETE AFUNGUA MKUTANO WA KWANZA WA DIASPORA JIJINI DAR ES SALAAM

Mratibu wa Diaspora katika Ofisi ya Waziri Mkuu Bi. Suzan Mzee akitoa muhtasari wa mkutano wa Diaspora kabla ya kufunguliwa na Rais Jakaya Mrisho Kikwete katika ukumbi wa Serena Hotel jana Agosti 14, 2014. Anayeangalia mabango ni mjumbe wa kamati ya maandalizi Bw. Constantine Magavilla.

Waziri Mkuu Mhe Mizengo Pinda akimkaribisha Rais Jakaya Mrisho Kikwete kuhutubia na kufungua rasmi Mkutano wa Diaspora.

Sehemu ya wageni waalikwa akiwemo Balozi Mwanaidi Maajar ambaye anasifika kwa kusimamia mambo ya Diaspora.

Mratibu wa  Diaspora Zanzibar pamoja na wadau kutoka ughaibuni wakifuatilia.

Rais Jakaya Mrisho Kikwete akifungua Mkutano wa Diaspora katika ukumbi wa hoteli ya Serena jana.

Kwa picha zaidi, bofya hapa.

Michuzi Blog

FINCEN: SOME BANKS IN U.S. ARE BANKING LEGAL MARIJUANA SHOPS, MANY MORE CLOSING ACCOUNTS

More than 100 banks nationally say they are working with legal marijuana businesses and their affiliates, the first indication that federal guidance on how that relationship should operate is taking hold, a federal official said Tuesday.

Yet, while banks filed hundreds of reports this year between February and August with the federal Financial Crimes Enforcement Network indicating a banking relationship with cannabis-related businesses, nearly as many filed reports saying they had terminated one.

FinCEN director Jennifer Shasky Calvery told a Washington, D.C., conference on anti-money laundering that the reports — called suspicious activity reports and required by federal law — show that banks are banking with pot businesses.

STANDARD CHARTERED DIRECTOR SAYS BANKERS ARE BEING TREATED LIKE CRIMINALS

A senior executive at Standard Chartered bank has complained that bankers are being treated "like criminals" when money laundering rules are broken.

"Banks have been asked to play the role of policing anti-money laundering … [but when] we have a lapse we don't get treated like a policeman, we are treated like a criminal," Jaspal Bindra, who runs Standard Chartered's business in Asia, told Reuters.

The bank, listed in London but with extensive operations in emerging markets, was fined $667m (£395m) two years ago for lapses in its systems which allowed it to move billions of pounds to countries such as Iran and breach sanctions. On Wednesday, it revealed that the monitor imposed as part of this fine had uncovered new issues – which it claimed were of a less significant nature – that would likely lead to another fine for potential money laundering offences.

BNP PARIBAS CHAIRMAN MAY BE SET TO LEAVE

BNP Paribas Chairman Baudouin Prot may leave in the next few months and be succeeded by Jean Lemierre, a senior adviser at the French bank, Le Journal du Dimanche has reported, without saying where it got the information.

Bloomberg News has reported on Chairman Prot's possible departure, following an article published in Le Journal du Dimanche, a French weekly newspaper.

BNP Paribas last month posted its largest ever quarterly loss and replaced its compliance chief after a record fine for doing business with Sudan and other countries blacklisted by the U.S. BNP Paribas, based in Paris, was fined $8.97 billion after pleading guilty to criminal charges in the U.S. in June.

7 MISTAKES INTERNS MAKE THAT DRIVE BANKERS CRAZY!

As an intern, it's often the smallest details that can make or break your future in the industry.

Thousands of students apply for summer internships at banks every year.

Congratulations if you made the cut. Now you must cater to a very tough crowd - that’s impatient, demands perfection, and wants ruthless efficiency.

As an intern, it's often the smallest details that can make or break your future in the industry. Say something inappropriate in front of a client, leave the office earlier than your MD, or screw up the coffee for the entire trading floor, and it could be curtains.

Everyone’s keeping tabs on you - even if you don’t notice.

After all if you can't handle the simple and menial tasks, how can you be trusted with client projects ?

Here is a list of common blunders that interns make while on the job:

IT'S TIME FOR A WOMAN TO BE A CHAIRMAN OF BARCLAYS

Yes - it's time for a woman to be chairman of Barclays. And simply because she is a woman, it would make things at the bank better.

Rona Fairhead - the former Financial Times Group chief executive, is rumored to be on a shortlist to take over from Sir David Walker next year. She is a capable, dynamic executive, with a great pedigree. But it's the fact that she is a woman that's making me cheer from the side-lines. After all, few banks need more change than the beleaguered blue eagle. And though she may not thank me (as it's not popular to celebrate a person's success simply based on gender) - I can't resist the thought that it would be an absolute game-changer for the bank, the industry and many aspiring women packed into the marzipan layer of banking.

Women especially have not had enough role models at the top of the industry - and the few that have been prominent (there is just one at the top table) have not been diverse enough. That means those in my generation have seen only one type of successful female, which not everyone wants to emulate.

CANDIDATES EMERGE FOR BARCLAYS TOP JOB

An airport supremo and the former boss of the group behind the Financial Times are in the running to become the newchairman of Barclays, it has emerged.

The Daily Express reports that Sir Howard Davies and Rona Fairhead are said to be among candidates under consideration for the top job at Barclays, which has undergone an overhaul after banking scandals.

KENYA AIRWAYS DEAL WITH AIRTEL FOR OWN NETWORK , BETTER MOBILE-BASED PAYMENT SYSTEM

Passengers boarding a KQ plane at Entebbe International Airport in Uganda. Plans by Kenya Airways to start a mobile phone service could see it diversify revenue sources and get better margins from a mobile-based booking and paying system that would enable customers to buy tickets online.

IN SUMMARY

• Analysts see the entry of KQ in the mobile service sector as a long-term strategic investment that could offer long-term rewards, especially given the airline’s unique position due to its network and the number of customers it carries.

• Roaming as well as calls in Africa and between countries on the continent are some of the most expensive in the world.

• According to an analysis of the MVNO segment done by Deloitte, companies entering this segment need to add subscribers to their network faster while keeping the client acquisition  costs at a minimum.

Plans by Kenya Airways to start a mobile phone service could see it diversify revenue sources and get better margins from a mobile-based booking and paying system that would enable customers to buy tickets online.

Africa’s third largest airline by passenger numbers said on Thursday it had signed a partnership with Airtel that will allow it to set up mobile virtual network operations (MVNO), increasing its value proposition to clients through lower roaming charges and potential booking and payment of fares through handsets.

Under the terms of the deal, KQ will lease excess capacity on the Airtel network and resell it to its customers across the African markets where Airtel operates, with the airline targeting customers who normally use roaming services.

WAFANYAKAZI WA MABENKI MKOANI KILIMANJARO WATOANA JASHO KATIKA BONANZA LA BANKERS DAY 2014.

Wafanyakazi wa Benki mbalimbali mkoani Kilimanjaro wakitoana jasho katika mashindano ya mbio za mita 400.

Wafanyakazi wa Benki mbalimbali wakioneshana uwezo wa kusukuma Gogo katika Bonanza la Bankers Day lililofanyika katika uwanja wa Chuo kikuu cha Ushirika na Baiashara mjni Moshi.

Mmoja wa wafanyakazi wa Benki akionesha kuku baada ya kufanikiwa kumshika katika mashindano ya kukimbiza kuku.

Wengine walioneshana uwezo katika kukimbia huku wakiwa wamevaa gunia.

Kwa upande wa kamba mshindi hakuweza kupatikana kwa mara ya kwanza mchezo huo ulitoa Droo.

 Wengine walikuwa katika mashIndano ya kupuliza Puto.

Kwa picha zaidi, bofya hapa.

Busagaga's Orijino Blog

BANKERS IN KILIMANJARO SPICE UP MOSHI BONANZA

Moshi — MEMBERS of 16 banks in Kilimanjaro region entertained in a thrilling bonanza held at Ushirika Grounds in Moshi on Sunday, participating in different sports.

With family members watching delightedly as parents or partners competed to emerge victorious, the bankers showed unreserved skills in soccer, sprint, chicken chasing, basketball, sprinting in sacks, logs pushing and pulling rope.

In football, Akiba Commercial Bank (ACB) lost 2-0 to a Banks Combined team. The goals for the winners were scored by Godwin Elisante in the seventh minute while the second was slotted in by Winston Kiwenge three minutes after an hour mark.

TANZANIA NOW OFF THE GLOBAL DIRTY MONEY WATCHDOG HOOK

ONCE regarded as a place with laxity in controlling illicit money, Tanzania has been removed from the bad books of global dirty money watchdog, a Paris based Financial Action Task Force.

In its recent statement, FATF said Tanzania alongside other countries including East African Community neighbour, Kenya, have been dropped from a list of monitored countries.

The FATF identified jurisdictions which have strategic weaknesses in their anti-money laundering and counter terrorist financing (AML/CTF) framework. These countries have developed an action plan with the FATF to address these AML/CTF weaknesses.

TANZANIA: WORRIES ABOUND AS PETROL PRICES ARISE

FUEL prices that has a critical input into range of sectors and industries remains to be one of the major factors that drive up the cost of living affecting most Tanzanians whose incomes is full of uncertainty.

The prices for petroleum products have in the last 12 months increased, though at different levels but the incomes of most Tanzanians have either remained the same or dropped.

The monthly indicative prices of petroleum products published by the Energy and Water Utilities Regulatory Authority (EWURA) show that the retail petrol prices for August this year have changed to the highest of 2,266/- per litre in Dar es Salaam Region compared to 2,096 /- in 2013.

SH28 BILLION SET ASIDE FOR RING ROADS IN DAR - DR JOHN MAGUFULI

THE Minister for Works, Dr John Magufuli (centre) on a tour of roads under construction in Dar es Salaam on Monday. On the right is Japanese Ambassador, Masaki Okada, and on the left is Dar es Salaam Regional Commissioner, Said Meck Sadick.

THE Minister for Works, Dr John Magufuli, has said the 2014/15 financial year would see a total of 28bn/- being spent on the construction of 79.9 kilometre- long ring roads in Dar es Salaam.

He was speaking during a one-day visit to the roads under construction on Monday, where he highlighted the government's resolve to see the roads completed to ease traffic jams in the city.

"The money will be used in constructing to tarmac level all ring roads in the city; we want to see that within three years from now, there is no traffic jam in the city," Dr Magufuli commented.

SWALA OIL AND GAS DEBUT ON DAR ES SALAAM STOCK EXCHANGE

His Excellency the former President of the United Republic of Tanzania, Alhaji Ali Hassan Mwinyi, rings the bell to officiate the first trading day of Swala Oil & Gas Tanzania Plc on the Dar es Salaam Stock Exchange (DSE). With him is Swala CEO, Mr. David Mestres Ridge (left) and Swala Chairman, Mr. Ernest Massawe (right).

Swala Oil & Gas (Tanzania) Plc has listed on the Dar es Salaam Stock Exchange (DSE), becoming the first public owned oil and gas company in East Africa.

The company is the 20th to list on the DSE and the second to list under the Enterprise Growth Market (EGM), an equity market specifically intended for Small and Medium Enterprises (SMEs) and start-ups.

DAR ES SALAAM STOCK EXCHANGE TURNOVER DOWN 72%

The Dar es Salaam Stock Exchange (DSE) experienced a further drop in turnover last week by 72.4 per cent to 1.53bn/- from 5.54bn/- recorded in the previous session.

According to the weekly market report by the Tanzania Securities Limited (TSL), the volume of shares traded decreased by 85.4 per cent to 1,828,192 shares compared to 12,482,007 transacted in the previous market.

The DSE All Share Index gained 0.85 per cent to 2,398.44 points while the Tanzania Share Index (TSI) closed at 0.28 per cent up at 4,007.27 points supported by the gains on CRDB, NMB, DCB, TBL, Simba, Twiga and Swissport counters.