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Friday, 13 February 2015
CLYDE & CO TANZANIA - A NEW MICROFINANCE LAW FOR TANZANIA?
Recent World Bank statistics show that just 17% of the adult population has access to formal financial services (or 22% if unregulated providers are included), compared to Kenya’s 42% and Rwanda’s 33%. Existing regulation is insufficient to address the complex needs of the sector and does not cover all providers. To address this problem, the Bank of Tanzania (BOT) is looking to reform the legal and regulatory framework governing microfinance activities. This month’s briefing will highlight some of the strengths and weaknesses of this framework and explore ways in which it can be improved.
WHAT YOU DID NOT KNOW ABOUT VALENTINE'S DAY IN AFRICA
It’s that time of the year again. Little teddy bears smile out from shop windows, florists go on overdrive and women all over Africa are going on diets to prepare themselves for the onslaught of chocolates that will come their way in a few days. Valentine’s day is around the corner and the retail world is gearing up for the extravaganza that is sure to ensue.
Apart from the fact that Valentine’s Day is like Christmas for every material girl in the world, here are some fun facts about it, as per a survey from Kaymu, Africa’s #1 online shopping community, conducted across 500 participants from its consumer base.
40% of women would break up with their boyfriend if they didn’t get them a present on Valentine’s Day. 40% also stated that they would buy presents for their friends as well as their Valentine.
70% of the participants would spend $50 or lower on their Valentine’s Day present and date, 20% would spend between $50 and $100 and 10% would spend over $100.
Interestingly enough, 50% of those surveyed were open to shopping for their Valentine’s Day present online and 50% were not.
TELEPHONE ETIQUETTE AND CUSTOMER SERVICE WORKSHOP
The proposed training plan is as follows:
Training Duration: 2 full days (8hrs each)
Date: 2nd & 3rd April, 2015
The training venue proposed is: Holiday Inn Dar Es Salaam City Center
Overview
Poor telephone handling and customer service can be very expensive for your company, both in lost image and lost money.
This course will provide participants with the telephone techniques and skills to confidently answer telephone calls; constructively respond to customer telephone enquiries and handle customer objections or complaints and also helping participants maintaining customer loyalty, striving to offer exceptional customer service, which in return will result in more business.
This course is essential for all staff because everyone in the company has the chance to make a positive 'First Impression'.
Target Audience
This training program is ideal for those who are the first point of contact for their customers and suppliers and who are responsible for answering the telephone and making calls on behalf of their organization i.e. frontline coordinators, bank customer service representatives, call center representatives, receptionist, Personal Assistant(PA)…etc Anyone in a customer related role who wishes to learn new skills and understand the concepts of customer service and Telephone etiquettes that will enable them to perform more effectively in their role.
Course Objectives
Training Duration: 2 full days (8hrs each)
Date: 2nd & 3rd April, 2015
The training venue proposed is: Holiday Inn Dar Es Salaam City Center
Overview
Poor telephone handling and customer service can be very expensive for your company, both in lost image and lost money.
This course will provide participants with the telephone techniques and skills to confidently answer telephone calls; constructively respond to customer telephone enquiries and handle customer objections or complaints and also helping participants maintaining customer loyalty, striving to offer exceptional customer service, which in return will result in more business.
This course is essential for all staff because everyone in the company has the chance to make a positive 'First Impression'.
Target Audience
This training program is ideal for those who are the first point of contact for their customers and suppliers and who are responsible for answering the telephone and making calls on behalf of their organization i.e. frontline coordinators, bank customer service representatives, call center representatives, receptionist, Personal Assistant(PA)…etc Anyone in a customer related role who wishes to learn new skills and understand the concepts of customer service and Telephone etiquettes that will enable them to perform more effectively in their role.
Course Objectives
HSBC SCANDAL: TREASURY COMMITTEE TO INVESTIGATE
The UK's Treasury Committee is to examine allegations that HSBC's Swiss private bank helped clients evade tax.
Whistleblower Herve Falciani has said the UK government should have known about the scandal in 2010.
Committee chairman Andrew Tyrie said the committee was concerned about the allegations and had decided to take oral evidence from both HSBC and HMRC.
Meanwhile, the BBC understands the Treasury is preparing legislation to tighten the tax evasion laws.
BBC business editor Kamal Ahmed has been told that it is preparing legislation to tighten the rules on undeclared income held in offshore accounts.
Thursday, 12 February 2015
MAGUFULI AMSHUKURU BALOZI WA JAPAN NCHINI KUCHANGIA MIRADI YA MAENDELEO
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| Balozi Okada na Mkurugenzi Dkt. Kidanto wakibadilishana hati za mikataba hiyo. |
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| Mkuu wa wilaya ya Chato, Bw. Rodrick Mpogolo akizungumza kwenye hafla hiyo ambapo pia alimshukuru Balozi Mh. Masaki Okada kwa kutengeneza ajira wilayani kwake kupitia msaada huo. |
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| Pichani juu na chini ni baadhi ya wageni waalikwa na waandishi wa habari waliohudhuria hafla hiyo fupi iliyofanyika nyumbani kwa Balozi Mh. Masaki Okada jana jijini Dar. |
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Balozi wa Japan nchini, Mh. Masaki Okada katika picha ya pamoja na Mbunge wa Chato ambaye pia ni Waziri wa Ujenzi, Dk. John Magufuli pamoja na viongozi wa halmashauri ya Chato. (Picha zote na Zainul Mzige wa modewjiblog).
Na modewjiblog team
Waziri wa Ujenzi Dk. John Magufuli ameishukuru Japan kupitia Balozi wake alioko nchini kwa kusaidia miradi inayochangia maendeleo ya moja kwa moja hususani afya, elimu na maji.
Dk. Magufuli alisema hayo jana katika makazi ya Balozi wa Japan Nchini, Masaki Okada yaliyopo Masaki Jijini Dar es Salaam wakati wa kutiliana na saini za mkataba wa fedha za ruzuku zitakazoenda kusaidia maendeleo kwa jamii ikiwemo Jimbo la Chato na Hospitali ya Taifa ya Muhimbili.
Katika hafla hiyo, Dk. Magufuli aliambatana na viongozi mbalimbali akiwemo Mkuu wa Wilaya na Mkurugenzi wa Wilaya ya Chato, pamoja na Wakurugenzi wa Hospitali ya Taifa ya Muhimbili akiwemo Mkurugenzi wa zamani wa hospitali hiyo Dk. Marina Njelekela pamoja na wa sasa Dk. Hussein Kidanto.
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RBS, BARCLAYS AND LLOYDS DOWNGRADED OVER FEARS GOVERNMENT WILL NOT HELP THEM IN NEXT CRISIS
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| RBS saw its rating cut to BBB- from BBB+ |
The trio were among six European banks to have their ratings cut by S&P following a new EU law that will force any lender that requires financial help to slash its liabilities by 8pc. Member states had to adhere to the new rules by January 1, 2015.
S&P said it was unsure how the EU legislation may operate "in practice, certainly while banks remain in a transitional phase of building buffers of loss-absorbing debt instruments".
As a result it cut Barclays to BBB from A-, RBS to BBB- from BBB+ and Lloyds to BBB from A-. Standard Chartered, HSBC and Credit Suisse were also hit by downgrades.
USD 1.5 MILLION TANZANIA TOURISM RE-BRANDING PROJECT UNDERWAY
Tanzania’s Natural Resources and Tourism Minister Lazaro Nyalandu has announced a USD 1.5 million tourism rebranding project to film and produce television commercials that will air worldwide via partners including CNN and the BBC.
According to Hon. Nyalandu, the US-based Pursuit Production is currently filming tourist attractions in Zanzibar, the Serengeti, Mount Kilimanjaro and the Ngorongoro Crater, among others.
“I am optimistic that the advertisements would boost tourist arrivals,” he said and went on to indicate that once filming has been completed, President Kikwete would preview the advertisements before the scheduled launch next month.
The tourism sector currently represents nearly 3.4% of the total GDP of Tanzania and employs approximately 500,000 Tanzanians.
TANZANIA INFLATION DECREASES TO 4% IN JANUARY 2015
According to The National Bureau of Statistics of Tanzania the Annual Headline Inflation Rate for the month of January 2015 decreased to 4.0% from 4.8% in December 2014.
Food and Non-alcoholic Beverages Inflation Rate has decreased to 4.9% in January 2015 from 5.7% recorded in December 2014.
In addition, the 12 month index change for non food products has decreased to 2.7% in January 2015 from 3.6% recorded in December 2014.
In addition, the 12 month index change for non food products has decreased to 2.7% in January 2015 from 3.6% recorded in December 2014.
The Annual Inflation Rate which excludes food and energy for the month of January 2015 has decreased to 2.8% from 3.1% that was recorded in December 2014.
HOW TANZANIA IS USING SOLAR TO SPREAD ACCESS TO POWER
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| A prototype sun tracking solar panel made by Concentrix Solar collects energy. |
“I don’t dare to go to bed before getting it done. If I did, I would rather stay at home because my teacher would be mad at me and hit me hard as if she was killing a snake,” said Mjungu, as the lamp, made from a used cooking oil tin, cast scary shadows on the sitting room walls.
For years, 14-year-old Mjungu, a pupil at Usinge primary school in remote Tura village in Tanzania’s Tabora region, has been trying to convince her mother to buy a Chinese-made solar lamp, which would not emit smoke that makes her cough.
Her mother says pupils have long survived studying by firelight or even moonlight, and “circumstances are such that I cannot afford any other kind of lamp.”
HSBC FILES RAISE QUESTIONS ABOUT OVERSIGHT OF SENIOR BANKERS PAST AND PRESENT
Apart from Stephen Green there are five other former senior bankers caught up in the scandal that has engulfed HSBC, one of the world’s biggest banks, following the leak of its Swiss operation’s secret customer list.
Sir John Bond, Stuart Gulliver, Clive Bannister, Chris Meares and Peter Braunwalder were involved in either acquiring, overseeing or managing HSBC’s Swiss bank, which helped clients conceal assets from taxman.
HSBC’s present leaders now describe the Swiss bank as an operation with “compliance and control failures”, where individuals “took advantage of bank secrecy to hold undeclared accounts”, and which took on “high-risk” customers.
Four of them have since left HSBC, and none want to talk about it. Confronted with the evidence of misconduct at the Swiss subsidiary, each has remained silent.
EX-HSBC BOSS STEPHEN GREEN: THE ETHICAL BANKER WITH QUESTIONS TO ANSWER
It was an image he actively encouraged. An ordained Church of England minister, Lord Green published a book in 2009 entitled Good Value: Reflections on Money, Morality and an Uncertain World. It preached that business leaders should behave not just legally but ethically, going beyond “what you can get away with”.
Today, Green faces awkward questions over the culture of lax controls and failures in compliance at HSBC’s Swiss bank. The Geneva subsidiary that routinely allowed clients to withdraw very large sums of cash and that colluded with some to conceal undeclared “black” accounts was created on Green’s watch.
BARCLAYS PLANS TO RAISE JUNIOR BANKER PAY TO HELP RETAIN TALENT
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| A Barclays Plc bank branch in London. |
Some Barclays junior employees are set to receive an increase of 20 percent to 40 percent in salary and bonuses, said two people familiar with the plans, who asked not to be identified because the move isn’t public. The decision has prompted mid-level employees to express their unhappiness about the shrinking compensation gap with their juniors, they said.
European lenders are seeking to attract more junior bankers to an industry that’s been hurt by scandals tied to misconduct, with regulators increasing scrutiny and banning bonuses of more than twice fixed pay across the region. In the U.S., banks have been cutting work hours and improving conditions to stem a loss of talent to the less-regulated private-equity and hedge-fund industries.
STANDARD CHARTERED WEIGHS STARTING JAPAN DESK IN DUBAI
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Yasunori Takeuchi, chief executive officer
for Japan at Standard Chartered Plc.
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The bank may also increase staff in Singapore to service Japanese customers that want to boost operations in Southeast Asia, Yasunori Takeuchi, chief executive officer for Japan, said in an interview.
The move would help to bolster the London-based bank’s Japanese business, which employs just 170 workers out of Standard Chartered’s more than 86,000 staff members. The company closed its Japan wealth-management business in 2012 and is preparing to eliminate thousands of jobs worldwide as part of its cost-cutting drive.
“Japan is still small among our 70 global locations, but it’s strategically important because we connect Japanese companies with Asia, the Middle East and Africa,” Takeuchi, 53, said in his first interview since taking the post in January, replacing Christopher Knight. “It’s a market where we can dig up clients.”
HOW SECRET SWISS BANK ACCOUNTS ACTUALLY WORK
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| Newly leaked HSBC documents named musicians David Bowie (pictured), Phil Collins and Tina Turner as being tied to Swiss bank accounts. |
UBS finally confirmed that it is under investigation by the US authorities, again, for helping rich Americans to evade taxes. It already stumped up £512 million in 2009 to settle a tax evasion probe.
Meanwhile, HSBC is suffering from a serious financial data dump by whistleblower Herve Falciani, which resulted in the leakage of thousands of clients bank account details and millions of pounds recuperated in tax.
So how does the Swiss banking system work?
How to get a bank account
Setting up a secret Swiss and Luxembourg based bank account isn’t as tricky as you may think. As with all bank accounts, you fill in forms and provide identification.
However, as one former private banker detailed, the level of scrutiny over identification over the last decade and significantly changed.
"In the late '90s it took only a couple of sheets of A4 to register a new account," Jay Vaananen, who anonymously wrote about the secretive world of private banking for years, told Business Insider UK.
Wednesday, 11 February 2015
DKT. REGINALD MENGI KUMZAWADIA MILIONI 10 MSHINDI WA WAZO LA BIASHARA LA 3N
Mwenyekiti Mtendaji wa makampuni ya IPP, Dk. Reginald Mengi.
Mshindi wa Januari 2015 wa shindano la wazo la biashara 3N anatarajiwa kutangazwa siku ya Alhamisi ya Februari 12 kuanzia saa tano asubuhi jijini Dar es salaam.
Kwa mujibu wa Dk. Reginald Mengi kupitia kurasa wake wa twitter, alitangazia umma kuwa Shindano hilo jipya lijulikanalo kwa kifupi -3N, ikiwa ni kifupisho cha ‘Nitabuni wazo la biashara, Nitatekeleza, na Nitafanikiwa’, ambapo mshindi wa kwanza wa mwezi Januari anatarajiwa kutangazwa siku hiyo ya alhamisi Februari 12.
Dk. Mengi aliweka ujumbe huo twittter : “Kutokana na sababu zisizozuilika mshindi wa Januari wa shindano la 3N atatangazwa Februari 12 saa 5 asubuhi. Samahani kwa usumbufu wowote”.
THE LAST LIMO BAJAJ OF 'TUTOKE NA SERENGETI' CAMPAIGN GOES TO MWANZA REGION
The 6th and last Limo Bajaj of 'Tutoke na Serengeti' campaign will this round go to Mwanza region as a result of Mr. Ramadhan Abubakar’s victory in the ongoing campaign. Abubakar was announced as the Limo Bajaj winner, following his active participation since the beginning of the campaign that saw him announced as the 6th winner of the big prize.
While on the phone Abubakar (28) who is a local electrician and resident of Nyamagana district Mwanza region expressed his joy after being told that SBL has rewarded him a brand new Limo Bajaj in Tutoke na Serengeti campaign. “God is good,…He replied, Thank you so much Mr. for giving me this good news, It is a huge surprise…I didn’t expect this at all”.
MKAZI WA MWANZA ASHINDA BAJAJI YA SITA YA PROMOSHENI YA 'TUTOKE NA SERENGETI'
Bajaji ya sita ya kampeni ya Tutoke na Serengeti, safari hii itaelekea mkoani Mwanza baada ya bwana Ramadhan Abubakar kutangazwa kuwa mshindi wa Limo Bajaji, kufuatia ushiriki wake yakinifu tangu kuanza kwa kampeni hii.
Akiongea kwa njia ya simu, Abubakar (28) ambaye ni fundi umeme na mkazi wa Nyamagana, Mwanza alielezea furaha yake baada ya kuelezwa na SBL kwamba ameshinda Limo Bajaji mpya katika kampeni ya Tutoke na Serengeti…. “Aisee Mungu ni Mwema,…alitahamaki,… asante sana kwa kunipa habari hii njema sikutarajia kushinda kabisa.”
Akiongea kwa njia ya simu, Abubakar (28) ambaye ni fundi umeme na mkazi wa Nyamagana, Mwanza alielezea furaha yake baada ya kuelezwa na SBL kwamba ameshinda Limo Bajaji mpya katika kampeni ya Tutoke na Serengeti…. “Aisee Mungu ni Mwema,…alitahamaki,… asante sana kwa kunipa habari hii njema sikutarajia kushinda kabisa.”
FIRST NATIONAL BANK TANZANIA SPONSORS TRAINING OF PETROLEUM IMPORTATION COORDINATORS
Picture courtesy of First National Bank
"HATUA JITHAMINI" PRIMARY CHILDREN'S TV SHOW LAUNCHED IN DAR ES SALAAM
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| Children from different primary schools at the launch of Hatua Jithamini Show which will be aired on Star TV every Saturday at 7.30 pm to 8pm and TV1 at 11.30am. |
Education is a human right and it is also the gateway for children to realize their full potential in societies, and break the cycle of poverty. Nonetheless, many factors contribute to limiting the quality of the education that children receive, and hence their learning, that is, lack of textbooks, poor school infrastructure (overcrowded classes, absent children and teachers, poor use of classroom time), parents unable to monitor homework, developmental delays due to lack of early childhood interventions, inappropriate or insufficient learner assessment and limited teacher skills.
CLYDE & CO TANZANIA - MINING BRIEFING, FEBRUARY 2015
In this month’s mining briefing we have provided an overview of the mineral rights available in Tanzania. This briefing will specifically focus on the various categories of mineral rights.
Legal basis
Legal basis
The Mining Act, 2010 (the MA) together with a number of subsidiary pieces of legislation govern the mining industry in Tanzania.
Categories of mineral rights
Part IV of the MA categorises licences into the following divisions:
a) Division A
i) a prospecting licence
ii) a gemstone prospecting licence
iii) a retention licence
CLYDE & CO TANZANIA - ENERGY UPDATE, FEBRUARY 2015
Tanzanian energy developments
In this month’s energy briefing, we summarise the latest industry developments as well as the country’s political developments with a special focus on the Ministry of Energy and Minerals (MEM).
Political developments
Several politicians within the energy sector may be liable to criminal penalties in connection with the Tegeta Escrow Account scandal – in which an estimated $200 million was misappropriated.
In reaction to the scandal Tanzanian opposition parties have required a review of all arrangements involving government contracts including a demand that all production sharing agreements in the oil and gas sector be made publicly available. International investors are withholding up to $490 million in economic support until the government addresses the matter.
On 24 January 2015 the Minister for Energy and Minerals, Professor Sospeter Muhongo, resigned from his position in light of allegations of his involvement in the scandal. Professor Muhongo is one of four high profile government officials that have stepped down due to the corruption scandal to date. Others include the former Attorney General, (retired) Judge Frederick Werema, the former Minister for Lands, Housing and Human Settlements Development, Professor Anna Tibaijuka, and the former Permanent Secretary of MEM, Mr. Eliakim Maswi who is currently suspended from his position.
CLYDE & CO TANZANIA - PROJECTS & CONSTRUCTION UPDATE, FEBRUARY 2015
As attention turns to Tanzania’s trade and energy opportunities, the spotlight has fallen upon the nation’s infrastructure and whether it can keep up with economic growth. In our previous projects and construction updaters we have reported on the capabilities and issues of the Tanzanian railway and port sectors; we now address the aviation sector.
In the past the East African aviation sector has recorded low flying levels. The position is compounded by a low percentage of intra-African flight routes. Local airlines have blamed multiple and uneven taxes levied on the sector for the high cost and low level of air travel in the region. In Tanzania, however, a surge in aviation related construction combined with rising demand for air travel is attracting international investors and developers.
Key legislation and regulation
Civil Aviation Act, Cap 80 R.E. 2006
The Civil Aviation Act, Cap 80 R.E. 2006 (the Act) empowers the Minister for Transport to give effect to the Chicago Convention and to regulate the use of aircraft by establishing licensing authorities and a system of licensing.
WAZIRI WA USHIRIKIANO WA AFRIKA MASHARIKI, HARRISON MWAKYEMBE AZUNGUMZIA KENYA KUZUIA MAGARI YA TANZANIA
JAMHURI YA MUUNGANO WA TANZANIA
WIZARA YA USHIRIKIANO WA AFRIKA MASHARIKI
TAARIFA KWA VYOMBO
VYA HABARI
UAMUZI WA SERIKALI YA
KENYA KUZUIA MAGARI YA KITALII YALIYOSAJILIWA TANZANIA KUINGIA UWANJA WA NDEGE
WA KIMATAIFA WA JOMO KENYATTA KWA AJILI YA KUCHUKUA NA KUSHUSHA WATALII
Tarehe 22 Desemba, 2014, Serikali ya Jamhuri ya Kenya ilitoa amri ya kuzuia magari ya kitalii yenye usajili wa Tanzania kwenda kuchukua na kushusha watalii wanaotumia uwanja wa ndege wa kimataifa wa Jomo Kenyatta wakiwa njiani kuja kutembelea vivutio vya utalii katika Jamhuri ya Muungano ya Tanzania. Baada ya uamuzi huu wa Serikali ya Kenya, Waziri wa Maliasii na Utalii Mhe. Lazaro Nyalandu alifanya majadiliano na Waziri wa masuala ya utalii wa Serikali ya Kenya siku ya tarehe 16, Januari, 2015 ili kutafuta ufumbuzi wa kadhia hii. Matokeo ya mkutano wa Mawaziri hawa yalikuwa ni kusitishwa kwa muda katazo lililotolewa na Serikali ya Kenya kwa makubaliano kuwa yafanyike mazungumzo baina ya pande hizi mbili ndani ya kipindi cha wiki tatu kuanzia tarehe 16 Januari, 2015 ili kurekebisha Mkataba wa Ushirikiano katika sekta ya utalii wa mwaka 1985 kati ya nchi zetu mbili.
RAIS JAKAYA KIKWETE AFUNGUA JENGO LA NSSF LA KITEGA UCHUMI MOSHI
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| NSSF Kilimanjaro Commercial Complex mjini Moshi, Mkoani Kilimanjaro. |
CRDB BANK AND HERITAGE INSURANCE EMERGE WINNERS IN THE BEST BOARD LEADERSHIP AWARDS 2014
CRDB Bank and Heritage Insurance emerged winners in the Best Board Leadership Award 2014.
CRDB Bank and Heritage Insurance emerged victors during the inaugural Best Board Leadership Award 2014 in the financial sector at a colourful event held at Serena Hotel in Dar es Salaam recently.
CRDB edged out Exim Bank which finished second and Tanzania Postal Bank (TPB) which settled for the third slot to claim the coveted prize in the banking sector.
CRDB Bank and Heritage Insurance emerged victors during the inaugural Best Board Leadership Award 2014 in the financial sector at a colourful event held at Serena Hotel in Dar es Salaam recently.
CRDB edged out Exim Bank which finished second and Tanzania Postal Bank (TPB) which settled for the third slot to claim the coveted prize in the banking sector.
CITIBANK PICKS ANOTHER KENYAN CEO FOR ITS ZAMBIAN BUSINESS
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| Martin Mugambi |
Citibank has appointed a Kenyan, Martin Mugambi, to head its Zambian business, taking over from yet another Kenyan who held the position until last year.
Ms Joyce-Ann Wainaina, the previous Zambia CEO, was appointed the regional CEO of Citibank East Africa based in Nairobi in July last year.
Mr Mugambi previously worked as the managing director and head of corporate finance in Citi’s sub-Saharan Africa (SSA) Corporate and Investment Banking (CIB) business based out of Johannesburg.
His position as the head of corporate finance saw him engage clients in international and domestic corporate-finance products in 35 countries where Citi has presence.
“Zambia is a country with enormous potential and I am looking forward to continuing the strong and trusted partnership that Citi has had in Zambia with our regulators, customers, employees and other stakeholders. I am privileged to be inheriting a strong business with good leadership and a first class team,” said Mr Mugambi.
Tuesday, 10 February 2015
EXIM BANK TANZANIA HIGHLIGHTS POTENCIAL OPPORTUNITIES FOR THE PRIVATE SECTOR EMANATING FROM GAS DISCOVERY IN TANZANIA
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| Exim Bank CEO, Dinesh Arora. |
Exim Bank Tanzania has called upon the public to make use of the current gas discovery in Tanzania since it has the potential to alter the structure of prevailing economy and create the new economy based on natural gas which will have an impact on all sectors including Banking and Trading.
The call was made by Exim Bank Chief Executive Officer (CEO) Mr. Dinesh Arora during a cocktail party staged by the bank for its corporate clients held in Dar es Salaam recently.
Further, Mr. Arora mentioned that there is lot of new opportunities for the private sector in medium to long term on account of support and ancillary services to gas industry such as logistics and transportation, equipment maintenance, specialized equipment manufacturing, fabrication and construction, environmental services, and Vocational Training.
“Exim Bank Tanzania also believes that going forward; the demand for housing, recreation facilities, hospitality, education and health services will increase. The key for private sector would be fostering linkages with gas industry and identifying and tapping potential opportunity,’’ he mentioned.
A MASSIVE LEAK HAS EXPOSED SHADY DEALINGS BY HSBC’S SWISS BANKING ARM
HSBC’s Swiss banking arm helped wealthy customers dodge taxes and conceal millions of dollars of assets, doling out bundles of untraceable cash and advising clients on how to circumvent domestic tax authorities, according to a huge cache of leaked secret bank account files.
The files — obtained through an international collaboration of news outlets, including the Guardian, the French daily Le Monde, BBC Panorama and the Washington-based International Consortium of Investigative Journalists — reveal that HSBC’s Swiss private bank:
- Routinely allowed clients to withdraw bricks of cash, often in foreign currencies of little use in Switzerland.
- Aggressively marketed schemes likely to enable wealthy clients to avoid European taxes.
- Colluded with some clients to conceal undeclared “black” accounts from their domestic tax authorities.
- Provided accounts to international criminals, corrupt businessmen and other high-risk individuals.
The HSBC files, which cover the period 2005-2007, amount to the biggest banking leak in history, shedding light on some 30,000 accounts holding almost $120bn (£78bn) of assets.
LEAKED HSBC DOCUMENTS SHED LIGHT ON SWISS BANKING INDUSTRY
The documents were downloaded by a former computer security expert at the giant bank HSBC, and they were released over the weekend by the International Consortium of Investigative Journalists.
The documents contain records of some 30,000 accounts kept at HSBC's Swiss subsidiary between 2005 and 2007. The accounts contained almost $120 billion and were tied to politicians, royalty, designers and sports figures in every part of the world. They were also tied to corrupt businessmen, dictators, arms industry officials and high-end criminals.
Monday, 9 February 2015
MOBLE MONEY - AFRICA: MULTI-BANKS INTEROPERABLE AND AGENT NETWORK SHARING MOBILE MONEY GO LIVE IN ETHIOPIA
The HelloCash mobile money platform will provide financial services to all Ethiopians.
ADDIS ABABA, Ethiopia, February 9, 2015/ -- Lion International Bank and Somali Micro Finance in partnership with BelCash Technology Solution PLC (http://www.belcash.com) launched the official pilot of the HelloCash mobile money services.
BelCash Technology Solution PLC is an Ethiopian based technology service provider for financial industry.
The HelloCash mobile money platform will provide financial services to all Ethiopians. The HelloCash service enable existing and potential customers of Lion International Bank and Somali Micro Finance to carry out transactions in four key areas of financial transactions: Deposit, Withdraw, Transfer and make payments.
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