MWALIMU COMMERCIAL BANK TO WIN MANY HEARTS

March 18, 2015. Mwalimu Commercial Bank, which is in the process of formation, is expected to bring about stiff competition in the country's banking industry because of the huge number of employees in the teaching fraternity.

The bank, expected to float its initial public offer (IPO) next Monday, is a threat to mainstream banks as it will accumulate a lot of deposits from some 200,000 members' salaries.

Zan Securities Chief Executive Officer, Mr Raphael Masumbuko, said the teachers' union has many clients who once the bank becomes operational will channel their salaries through the bank.

Mr Masumbuko also noted: "teachers are good borrowers thus posing a huge challenge to mainstream banks." Tanzania has over 50 banks but some of the biggest are NMB, CRDB, Standard Chartered, Exim, National Bank of Commerce (NBC) and Barclays.

TANZANIA GOVERNMENT TO ADDRESS MANUFACTURERS' TAX CONCERNS

Industry & Trade Minister, Dr Abdallah Kigoda.

March 18, 2015. The government has hinted on the possibility of reviewing excise duty in the forthcoming budget following the concerns expressed by some manufacturers that it was undermining their operations.

The Minister for Industry and Trade, Dr Abdallah Kigoda, said in an interview that one possible area was either to reduce the excise duty or leave as it is for one or two years to determine predictability of their business.

He said they had met with some manufacturers including representatives of Tanzania Breweries Limited (TBL) and Tanzania Cigarette Company (TCC) to discuss how the problem could be solved.

“Their concerns are genuine. We have asked them to give us their proposals but one of the possible areas is to either lower it in the next budget or leave it unchanged for one or two years to determine predictability,” he said.

WILDLIFE SAFARIS AND URANIUM ONE DONATE A PLANE TO FACILITATE AN ANTI-POACHING CAMPAIGN

Natural Resources and Tourism Minister, Lazaro Nyalandu shortly after alighting from a brand new anti-poaching, high-performance, ultra-light Nynja aircraft after launching it at Julius Nyerere International Airport (JNIA) in Dar es Salaam yesterday. The plane, donated by Wildlife Safaris and Uranium One, is expected to operate four days a week in the game-controlled areas.

REGIONAL INVESTMENT PROMOTION FORUM IN PIPELINE

Chief Executive Officer of the East African Unique Company Limited, Rodgers Mbaga (centre) speaks to reporters (not in the picture) in Dar es Salaam yesterday on investments promotion exhibition and conference to be held later this year. On the right is a representative of TanTrade, Steven Kobelo and on the left is Project Manager of the company, Tony Obura.

March 18, 2015. A Marketing communication consulting firm, the East African Unique Co. Ltd, has established local platform for investment promotion and exhibitions in the country.

The Tanzania Investments Promotion Exhibition & Conference (TIPEC) would on regular basis conduct breakfast briefing and other events to facilitate networking among various stakeholders.

TIPEC will in its operations work jointly with the Tanzania Private Sector Foundation (TPSF), Tanzania National Business Council (TNBC), Export Processing Zone Authority (EPZA), Tanzania Trade Development Authority (TANTRADE), Tanzania Chamber of Commerce, Industries and Agriculture (TCCIA) and Confederation of Tanzania Industries (CTI).

KAYMU.CO.TZ - FIVE MUST HAVES FOR EVERY GIRL

March 17, 2015. Dar-es-Salaam. A lady’s wardrobe is an extension of her personality. Stocked with everything from essentials to playful knick knacks, it is equipped with everything that a lady needs for her armor. Kaymu brings you some top picks which are absolute must-haves that every lady needs to have in her closet.

Red Lipstick

A rich red or burgundy shade of lipstick is something that you are most likely to find in any lady’s hand bag. Whether it is a casual brunch or a date after work, red lipstick can work wonders and change your look from casual to classy.

Pastel Shirt

A pastel or white shirt is one of those evergreen classics which will never go out of style. This too can be versatile and can help you work the look in an office environment or even a casual night out. Most women prefer a blouse which is slightly fitted because something that is too loose could make you look boxy and that’s definitely something you do not want!

BENKI YA UBA YAENDELEA NA UTARATIBU WA KUPIGA TIZI PAMOJA NA WATEJA WAO

Wafanyakazi wa Benki ya UBA (United Bank for Africa), wakishindana kuvuta kamba wakati wa mazoezi waliofanya jijini Dar es Salaam jumamosi kutokana na utaratibu waliojiwekea kwa kila baada ya miezi mitatu kufanya mazoezi pamoja na wateja wao.

Mwalimu wa mazoezi ya viungo kutoka Chama cha walimu wa mazoezi hayo, FIAT, Ray Mwamakula (kushoto) akiwaongoza wafanyakazi na wateja wa Benki ya UBA (United Bank for Africa), kufanya mazoezi Dar es Salaam jumamosi.

Mwalimu wa mazoezi ya viungo kutoka Chama cha walimu wa mazoezi hayo, FIAT, Ray Mwamakula (kushoto) akiwaongoza wafanyakazi wa Benki ya UBA (United Bank for Africa), kufanya mazoezi Dar es Salaam jumamosi.

ANGALIA SAFARI YA MABADILIKO KWA MATOKEO MAKUBWA SASA (BRN)

BENKI YA NMB YAUNGANISHA WAFANYABIASHARA WAKUBWA MKOANI MBEYA

Katika mwendelezo wa kuwa karibu na wateja wake benki ya NMB imezindua mtandao utakaowaunganisha wateja wake wakubwa ‘Executive Network’ kwa jiji la mbeya ikiwa na lengo la kuwafanya kufurahia zaidi huduma za kibenki kutoka NMB.

Uzinduzi huo uliofanyika mwishoni mwa wiki jijini Mbeya na kuwakutanisha wafanyabiashara zaidi ya 100 kutoka vitongoji mbali mbali ikiwemo Kyela, Mbozi, unduma, Mwanjelwa, Mbalizi Road na Usongwe waliopata fursa ya kuwa kwenye mtandao wa wafanya bishara wa NMB.

Mtandao huu unaounganisha wateja wakubwa wa NMB vile vile umezinduliwa katika mikoa mbalimbali ikiwemo; Arusha, Mwanza, Dar es Salaam na Mbeya ikiwa ya nne.

Afisa Mkuu wa Wateja Wakubwa na Serikali wa NMB, Richard Makungwa (pili kulia) pamoja na Given Ngajilo wa kampuni ya Tunhimbaghe Traders Ltd (mteja), wakifungua pazia kuashiria uzinduzi rasmi wa NMB Executive Network jijini mbeya huku wakishuhudia ni Mkuu wa kitengo cha wateja wakubwa wa NMB, Filbert Mponzi (kulia) na meneja wa NMB Nyanda za juu, Lucrecia Mkarie.

Maafisa wa NMB wakifurahi pamoja na mteja wao baada ya uzinduzi rasmi wa mtandao wa ‘NMB Executive Network’.

Sehemu ya wateja wakubwa wa NMB walioalikwa katika uzinduzi huo.

Mmoja wa wateja wakubwa wa NMB akiomba ufafanuzi juu ya huduma zitolewazo na benki hiyo wakati wa hafla iliyowakutanisha wateja wakubwa wa benki ya NMB.

Meneja Maendeleo ya Biashara wa NMB, Masato Wasira (kushoto) na Mtaalam Mwandamizi wa bidhaa za hazina kwa wateja wakubwa, Ronald Kato wakiwa pamoja na wateja wa NMB kutoka kampuni ya Sunshine Mining ya Chunya.

WAZIRI MKUU, MIZENGO PINDA AENDELEA NA ZIARA YAKE MJINI TOKYO, JAPAN

Waziri mkuu, Mizengo Pinda akimkabidhi zawadi ya vyakula vya Kitanzania vilivyosindikwa kitalaamu, Afisa Mtendaji Mkuu na mjumbe wa Bodi ya Wakurugenzi ya Kampuni ya Sumitomo ya Japan, Bw. Michihiko Kanegae baada ya mazungumzo yao kwenye hoteli ya New Otani, Tokyo, Machi 16, 2015. Kampuni hiyo inatarajiwa kuanza ujenzi wa mtambo wa kufua umeme kwa kutumia gesi katika eneo la Kinyerezi jijini Dar es salaam hivi karibuni. Kushoto ni Meneja Mkuu wa Masuala ya Miundombinu ya Umeme wa kampuni hiyo, Tsutomu Ben Akimoto.

Waziri Mkuu, Mizengo Pinda na ujumbe wake wakiagana na Afisa Mtendaji Mkuu na mjumbe wa Bodi ya Wakurugenzi ya Kampuni ya Sumitomo Corporation Corporation ya Japan, Bw. Michihiko Kanegae (wapili kushoto) baada ya mazungumzo yao kwenye hoteli ya New Otani, Tokyo, Machi 16, 2015. Kampuni hiyo inatarajiwa kuanza ujenzi wa mtambo wa kufua umeme kwa kutumia gesi katika eneo la Kinyrezi jijini Dar es salaam hivi karibuni. Wengine kutoka kushoto ni Balozi wa Tanzania nchini Japan aliyemaliza muda wake, Salome Sijaona, Waziri wa Nchi, Ofisi ya Makamu wa Pili wa Rais wa Zanzibar, Mohamed Abood Mohamed na Balozi mpya wa Tanzania nchini Japan, Batilda Burian.

Waziri Mkuu, Mizengo Pinda akipata Maelezo kutoka kwa Ofisa wa Ubalozi wa Japan nchini Tanzania, Noriko Tanaka kuhusu Treni inayofanyakazi bila dereva katika jiji la Tokyo wakati alipotembelea Ofisi za Kampuni inayoendesha treni za aina hiyo ili kujifunza namna ya kusafirisha abiria kwa njia ya reli katika majiji Machi 16, 2015.

Waziri Mkuu, Mizengo Pinda akipata maelezo kutoka kwa Mbunge na Naibu Waziri wa Uchumi, Biashara na Viwanda wa Japan, Bw. Shigeki Iwai kuhusu kipeperushi chenye picha zinazoonyesha kilimo cha chai kuzunguka mlima Fuji nchini Japan katika mazungumzo yao yaliyofanyika kwenye hoteli ya New Otani, Tokyo Machi 16, 2015. (Picha na Ofisi ya Waziri Mkuu).

UJUMBE KUTOKA KAMPUNI YA SURBANA - SINGAPORE WAMTEMBELEA WAZIRI WA ARDHI , NYUMBA NA MAENDELEO YA MAKAZI OFISINI KWAKE

Waziri wa Ardhi, Nyumba na Maendeleo ya Makazi, Mh. William Lukuvi akiwa na ujumbe wa Kampuni ya Surbana International Pty Ltd ya nchini Singapore ofisini kwake. Kampuni hiyo imeingia mkataba na Tanzania katika uandaaji wa mpango kabambe (Master plan) wa Jiji la Arusha.

Katibu mkuu, Wizara ya Ardhi, Nyumba na Maendeleo ya Makazi, akifafanua jambo katika kikao kifupi ofisini kwake, baina ya Waziri wa Wizara ya Ardhi, Nyumba na Maendeleo ya Makazi Mh. Willium Lukuvi, National Housing Coorporation na ujumbe wa Kampuni ya Surbana International Pty Ltd ya nchini Singapore.

Waziri wa Ardhi, Nyumba na Maendeleo ya Makazi, Mh. William Lukuvi akipokea zawadi ya picha, ambayo alipigwa alipokuwa ziarani Singapore, anayemkabidhi ni Mtendaji Mkuu wa kampuni ya Surbana International Pty Ltd, Pang Yee.

Naibu Waziri wa Ardhi, Nyumba na Maendeleo ya Makazi, Mh. Angela Kairuki akipokea zawadi ya picha ambayo alipigwa alipokuwa ziarani Singapore, anayemkabidhi ni Mtendaji Mkuu wa kampuni ya Surbana International Pty Ltd,Pang Yee.

Michuzi Blog

NIGERIANS ARE THE WORLD'S BIGGEST SPENDERS ON HEATHROW AIRPORT VIP SERVICES

VENTURES AFRICA – Nigerians have emerged top spenders in luxury retail and VIP services at Heathrow, Europe’s busiest airport by passenger traffic. Although over 70 percent of people in the West African nation live on less than $2 a day, according to the World Bank, its riches, concentrated in the hands of a few are freely spent on luxurious services abroad.

“Heathrow’s VIP Service was originally designed for dignitaries such as Heads of State but we recognised that the privacy and exclusivity that we offered is something that many passengers are looking for in their own lives. Making the service available to First Class and Business Class passengers, we now provide a quality experience that allows our passengers to enjoy a personalised service and we’re delighted to welcome many of these from Nigeria,” Jonathan Coen, Heathrow’s Retail Director said in a statement.

According to recent statistics from Heathrow, Nigerian travellers – who patronise this service – spend an average of £1,059 ($1,594) per visit on luxury retail.

KAYMU.CO.TZ - SHOPPING ONLINE SAVES TIME

Dar-es-salaam, March 17th 2015. "Dost thou love life? Then do not squander time, for that is the stuff life is made of." "Time is the most valuable thing a man can spend." "Be frugal of your time. It is one of the best jewels we have." Words from the likes of Benjamin Franklin, Laertes Diogenes and Sir Matthew Hale. Clearly, time is a very valuable commodity. So valuable, it is not to be misspent or wasted. With that being said, how then, can Tanzanians adjust their lives into saving time with every decision they make?

One of the things we emphasize on Kaymu.co.tz is the time-savings offered by our online marketplace. Through us, there is a high level of convenience: you manage to save the time you would have used to leave your house, go to market places and search for products you would desire to purchase and instead select the item online and have it delivered to you anywhere in Tanzania. We also save you from increased stress levels due to the ruthless sun and traffic jams. These are all in one way or another very time consuming.

SONGAS IS SUPPORTING STUDENT VOLUNTEERING AND EDUCATION IN RUFIJI AND KILWA DISTRICTS

SONGAS has sponsored READ International volunteers to carry out a library refurbishment at Kilwa Day and Mohoro Secondary Schools. The work began on 17 February and the 2 libraries were opened officially on the 11th and 12th March 2015.

The refurbishment of the 2 libraries was funded by SONGAS and was carried out by 9 READ International volunteers as part of the Library Refurbishment Programme. SONGAS has been operating in both Rufiji and Kilwa districts for the past 10 years, is a valued development stakeholder and is dedicated to support education projects. The READ volunteers spent 3 and half weeks at the school, sorting the books, referencing them, getting appropriate furniture made, painting and decorating the library room. They also ran different library activities to encourage students to get into the habit of reading and to train students how to use the different learning materials.

EXIM BANK TANZANIA OPENS FIFTH BRANCH IN COMOROS

The Governor of the Isles’ Central Bank Mr. Mze Abdou Mohamed Chanfiou (second left) cuts a ribbon to launch the fifth Exim Bank Comoros's branch, a subsidiary of Exim Bank (Tanzania) at Mitsamouili in Comoros recently. Witnessing are Exim Bank Country Head, Mr. Ganesh Kumar (first right) and Branch Manager, Mrs. Asmini Abdou (second right) and other representatives from the isles and the bank. (Photo by our correspondent).

By Our Correspondent, Comoros. EXIM Bank Tanzania has kept on strengthening its presence in the Comoros by opening its fifth branch at Mitsamiouli in Grand Comoros, in a move designed to take services closer to customers in the islands.

Exim Bank Comoros, a subsidiary of Exim Bank (Tanzania) has continued to strengthen its position as the fastest growing bank in the Union of Comoros.

Speaking during the branch’s inaugural ceremony held over the weekend, the Governor of the Central Bank of Comoros Mr. Mze Abdou Mohamed Chanfiou who was the chief guest commended the bank for its contribution in developing an effective, efficient and sustainable financial sector in the Union of Comoros.

JOHN McFARLANE: BARCLAYS BRACED FOR ‘MACK THE KNIFE’

John McFarlane

'Does he want to make the investment bank profitable or just run it down ?'

The Wall Street Journal reports that Barclays is bracing for the arrival of 'Mack the Knife'.

John McFarlane, a former Citigroup executive with a penchant for feng shui and playing the guitar, earned his nickname as a fearsome restructurer of ailing financial institutions in Asia, Australia and the U.K, often slicing investment-banking jobs along the way.

Next month he becomes chairman of Barclays.

Expectations are high. The silver-haired Scot could turbocharge Barclays’ shift away from investment banking, analysts say. 'The stock is rallying just because he is coming in', said Chirantan Barua, an analyst at Bernstein Research. 'But he faces a strategic dilemma: does he want to make the investment bank profitable or just run it down?'

GOVERNMENT PRAISES VODACOM'S KILIMO KLUB INITIATIVE

Deputy Agriculture Minister, Godfrey Zambi (L)
and Vodacom Managing Director, Rene Meza (R)
share a hearty moment shortly after the deputy
Minister opened a workshop on Kilimo klub
(Agriculture Club) yesterday.

March 16, 2015. VODACOM Tanzania has won government praise for innovative solutions in support of smallholder farmers to access financial services like M-Pesa and M-Pawa.

The initiative dubbed Kilimo Klub, is an exclusive service targeting smallholder farmers to access M-Pesa and get empowered fast and conveniently.

Deputy Minister for Agriculture, Food Security and Cooperatives, Mr Godfrey Zambi, told a news conference at Kilimo Klub Summit in Dar es Salaam that increased rate of mobile penetration was a big push to smallholder farmers in rural areas.

“We need more smallholder farmers and agriculture business that are an essential part of the value chain contributing to increased production and increase income,” he said. Most of the smallholder farmers lack knowledge and access to the market and have limited business skills.

TANZANIA LOTTERY TO CONTRIBUTE 1.8TRILLION/- TO GDP AFTER DEAL WITH SOUTH AFRICAN FIRM

Gaming Board director general Tarimba Abbas (R) and
chairman of Gidani International Limited and Murhandziwa
Limited, Prof Bongani Khumalo (L) signs documents.

March 16, 2015. After entering a pact with the South African’s lottery firm, Murhandziwa Limited to run the national lottery for five years, the Gaming Board of Tanzania has said it aims to raise 1.8trn/- up from 1.5trn/- currently contributed to the GDP.

Speaking at the signing ceremony for Murhandziwa Limited to run the lottery operations in Dar es Salaam at the weekend, the Gaming Board of Tanzania director general, Tarimba Abbas said apart from raising the money, the pact will help create new jobs for Tanzanians.

Tarimba also said that 4,000 to 7,000 employment opportunities will be raised through different agents that would be placed countrywide.
The GBT boss disclosed that this year’s lottery will be the first largest ever to be played in the country since the winners will take home 1bn/-.

BAGAMOYO PORT TO FUEL AFRICA'S ECONOMIC BOOM

March 16, 2015. The government plans to make the USD11bn Bagamoyo Mega port project, slated to have its foundation stone laid in July this year, the region's biggest port that will serve as the engine of Africa's economic boom.

The Chinese-backed project would dwarf Kenya's port at Mombasa, east Africa's trade gateway some 300 km (180 miles) to the north, and include an industrial zone and rail and road links to capitalise on growth in a region hoping to exploit new oil and gas finds.

"It will be the engine for economic activity not only for Bagamoyo but for the entire region," said district executive Ibrahim Matovu, speaking from offices overlooking beaches where ship-builders hammer out wooden dhows as they have for centuries.

DUTCH CONSTRUCTION FIRM TO REFURBISH KILIMANJARO INTERNATIONAL AIRPORT

March 16, 2015. A Dutch construction firm—Bam International has been awarded a Euro 37 million designs and construction contract for rehabilitation and extension of Kilimanjaro International Airport (KIA).

According to the contract, BAM is expected to complete the work for Kilimanjaro Airports Development Company (KADCO) in July, next year.
KADCO manages the KIA—the second largest airport in the country after the Julius Nyerere International Airport in the country’s commercial capital of Dar es Salaam.

KADCO Director of Operations and Technical Services, Christopher Mukoma told reporters here that the scope of work comprises the refurbishment of the 44-year-old terminal building, to enable it to handle as many passengers as possible.

MH. WILLIAM LUKUVI AWEKA JIWE LA MSINGI KATIKA NYUMBA ZINAZOJENGWA NA NHC ENEO LA BUSWELU, MWANZA

Watendaji mbalimbali wa NHC na Manispaa ya Ilemela wakimpokea Waziri wa Ardhi, Nyumba na Maendeleo ya Makazi Mh. William Vangimembe Lukuvi alipowasili kuweka jiwe la msingi katika mradi wa nyumba za gharama nafuu zinazojengwa na NHC eneo la Buswelu, Mwanza.

Kaimu Mkurugenzi wa Uendelezaji Miliki wa NHC, Bw. Haikamen Mlekio akitoa maelezo kwa Waziri wa Ardhi, Nyumba na Maendeleo ya Makazi Mh. William Vangimembe Lukuvi ya mradi wa nyumba za gharama nafuu unaotekelezwa na NHC eneo la Buswelu jijini Mwanza.

Waziri wa Ardhi, Nyumba na Maendeleo ya Makazi Mh. William Vangimembe Lukuvi akikagua nyumba za gharama nafuu zinazojengwa na NHC eneo la Buswelu Mwanza kabla ya kuweka jiwe la msingi mwishoni mwa wiki.

Mkurugenzi wa Uendelezaji Biashara wa NHC, Bw. David Shambwe akitoa maelezo kwa Waziri wa Ardhi, Nyumba na Maendeleo ya Makazi Mh. William Vangimembe Lukuvi ya mradi wa ujenzi wa nyumba za gharama nafuu zinazojengwa na NHC eneo la Buswelu Jijini Mwanza.

Waziri wa Ardhi, Nyumba na Maendeleo ya Makazi Mh. William Vangimembe Lukuvi akihutubia wananchi (hawapo pichani) waliohudhuria uwekaji wa jiwe la msingi katika mradi wa nyumba za gharama nafuu unaotekelezwa na NHC eneo la Buswelu Jijini Mwanza. Katika hotuba yake amesema Serikali inakusudia kuondoa kodi ya VAT kwenye uuzaji wa nyumba mpya zinazojengwa na NHC ili kuzifanya nyumba hizo kuwa nafuu.

Waziri wa Ardhi, Nyumba na Maendeleo ya Makazi Mh. William Vangimembe Lukuvi akiweka jiwe la msingi kwenye nyumba za gharama nafuu zinazojengwa na NHC eneo la Buswelu Jijini Mwanza. Kushoto kwake ni Mkurugenzi wa Uendelezaji Biashara wa NHC Bw. David Shambwe aliyemuakilisha Mkurugenzi Mkuu wa NHC.

Mafundi ujenzi nao walifurahia kwa kupata fursa ya kupiga picha ya pamoja na Waziri wa Ardhi, Nyumba na Maendeleo ya Makazi Mh. William Vangimembe Lukuvi alipokutana nao wakati wa uwekaji jiwe la msingi eneo la Buswelu.

WILLIAM LUKUVI LAUNCHES NATIONAL HOUSING CORPORATION'S HOUSE PROJECT IN MWANZA

The Minister for Lands, Housing and Human Settlement Development, William Lukuvi (right) launches phase one of the construction of quality and affordable houses in Buswelu on the outskirts of Mwanza. Looking on is NHC Director of Business Development, David Shambwe (left).

March 16, 2015. The Minister for Lands, Housing and Human Settlement Development, William Lukuvi has launched phase one of the construction of quality and affordable houses in Buswelu on the outskirts of Mwanza.

The first phase will see a total of 30 houses constructed under supervision from the National Housing Corporation (NHC).

Speaking to journalists at the launch over the weekend, Lukuvi said the total cost of the 30 houses is 1.8bn/-, which NHC has secured from financial institutions as a loan.

NOTICE TO NATIONAL MICROFINANCE BANK (NMB) CUSTOMERS

TANGA CEMENT PUBLIC LIMITED COMPANY NOTICE TO SHAREHOLDERS - DIVIDEND PAYMENT STOP NOTICE

BANK LOSES COURT BATTLE IN 787BN/- VIP LEGAL ATTACK

March 16, 2015. THE Standard Chartered Bank Group has suffered yet another defeat after the High Court refused to order local investment company, VIP Engineering and Marketing Limited, to provide further answers on interrogatories in the 787bn/- case involving Independent Power Tanzania Limited (IPTL).

Judge Salvatory Bongole ruled against Standard Chartered Bank PLC, Standard Chartered Bank (Hong Kong) Limited, Standard Chartered Bank (Tanzania) Limited and Joint liquidators of Mechmar Corporation (Malaysia) Berhad after considering arguments presented by the parties on the matter.

He held that the order given on January 27, this year, by the court in respect of other defendants in the matter, Wartsila Nederland BV and Wartsila Tanzania Limited, who had pressed for the same answers, also applied to the banks and the joint liquidators of Mechmar Corporation.

VP WOOS EGYPTIANS TO INVEST IN TANZANIA

Vice-President, Dr Gharib Bilal

THE Vice-President, Dr Gharib Bilal, has invited Egyptian business people to come and invest in the country as the country is the gateway to reach out over 400 million people market in eight landlocked countries.

Speaking here during a three-day Egypt Economic Development Conference (EEDC) attended by over 2,000 delegates from 112 different countries, Dr Bilal said that apart from numerous investment opportunities available, investing in the country gives other opportunities of reaching the market available in East Africa Community (EAC).

“Apart from a number of investment opportunities in our country, we also stand a better chance for more opportunities as the country is the gate way of more than eight landlocked countries,” he said.

Dr Bilal therefore invited Egyptian business people and other business persons who attended the conference to come and invest in the country as the government is fully committed to work with them as well as ensuring their safety.

TANZANIA: TREASURY BILLS YIELD DECLINE DESPITE DEMAND

March 16, 2015. INVESTORS’ appetite for the treasury bills remained impressive resulting into oversubscriptions.

According to the Bank of Tanzania (BoT) auction summary, yield rates across all tenors declined significantly, but did not discourage investors to scramble for the investment opportunity in the treasury bills.

For the 364 days offer yields declined to 10.33 per cent compared to 11.9 per cent of the previous session but investors appetite remained strong after attracting bids worth 102.69/- against 55bn/- offered to the market for bidding.

The 182 days tenor yields declined to 9.21 per cent compared to 11.45 per cent but the amount tendered overshoot to 219.06bn/- compared to 45bn/- that was put in the market for bidding.

WHY MV DAR PROJECT COULD FAIL BEFORE ITS OFFICIAL LAUNCH

Works minister John Magufuli (left) is escorted by Coast Regional Commissioner Evarist Ndikilo upon his arrival in Mbegani, Bagamoyo, aboard the MV Dar es Salaam during a trial run last month.

Dar es Salaam. March 16, 2015. The procurement of the MV Dar es Salaam-Bagamoyo is proving to be controversial following reports that the ferry does not meet specifications and standards for which it was ordered.

Details gathered by The Citizen also show that the Danish company contracted by the government to supply the vessel, JGH Marine, subcontracted Bangladeshi firm Western Marine Shipyard Limited, a fact authorities, however, said they were not aware of. The Citizen has learnt that the speed of the vessel has raised questions over the feasibility of the ferry being deployed for commercial and public transport service as intended. The ferry has reportedly been unable to reach a top speed of 20 knots as requested by the government and, instead, tops out at between 14 and 15 knots.

JUMA MWAPACHU APPOINTED AIRTEL BOARD CHAIRMAN

Mr Juma Mwapachu at a past event. He has been
appointed board chairman for Airtel Tanzania.

Dar es Salaam. March 16, 2015. Former East African Community secretary-general Juma Mwapachu is the new board chairman of Airtel Tanzania, Bharti Airtel announced in a statement yesterday. Mr Christian de Faria, Airtel Africa’s chief executive officer was also the chairman of Airtel Tanzania before Mr Mwapachu’s appointment.

Ambassador Mwapachu is the immediate former secretary general of the East African Community, a position he held between April 2006 and April 2011.

He is a law graduate of the University of Dar es Salaam. He also holds a Postgraduate Diploma in International Law, International Institutions and Diplomacy from the Indian Academy of International Law and Diplomacy, New Delhi, India. He holds two honorary degrees in literature and political sciences from the University of Dar es Salaam and the National University of Rwanda respectively.

BRITAIN'S PLAN TO JOIN CHINA'S 'WORLD BANK' ANGERS WASHINGTON

The $50bn (£33.6bn) Asian Infrastructure Investment Bank is seen as a potential rival to US-based institutions such as the World Bank

China and 20 other countries signed a memorandum of understanding to establish the Beijing-headquartered bank in October

March 12, 2015: Britain has announced plans to become the first major Western country to join a Chinese-led development bank, drawing a concerned response from the US.

The $50bn (£33.6bn) Asian Infrastructure Investment Bank (AIIB) has been feted by Beijing as a way of financing regional development, and is seen as a potential rival to US-based institutions such as the World Bank.

Chancellor George Osborne said Britain would join discussions with other founding members to set out the institution’s governance and accountability structures later this month, in a move to bolster relations with China.

MKAZI WA KOROGWE, TANGA AIBUKA MSHINDI WA MTOKO WA MBUGANI KWENYE FAINALI YA KAMPENI “TUTOKE NA SERENGETI”

Mmoja wa washindi wa shindano la Tutoke na Serengeti, Bw. Godfrey Mpiruka aliyeibuka na zawadi ya Limo Bajaji siku za nyuma akiteta jambo na afisa toka SBL wakati wa kuchezeshwa kwa droo ya mwisho ya shindano hilo, lililofanyika katika baa ya Hongera iliyopo-Kijitonyama jijini Dar es salaam.

Meneja chapa wa bia ya Serengeti Premium Lager, Bw. Rugambo Rodney (kulia) na msimamizi kutoka PWC, Golder Kamuzora, na Afisa mwandamizi toka bodi ya michezo ya kubahatisha (kushoto), Jehud Ngolo , wakifuatilia kwa karibu namba ya simu ya mshindi wa mwisho wa shindano la Tutoke na Serengeti, ambapo Bw. Robert Gabriel makazi wa Korogwe Tanga aliibuka mshindi.

Meneja chapa wa bia ya Serengeti Premium, Bw. Rugambo Rodney (wa pili kulia), akionyesha namba ya simu ya mshindi wa mwisho wa shindano la Tutoke na Serengeti, ambapo Bw. Robert Gabriel mkazi wa Korogwe, Tanga aliibuka mshindi. Msimamizi toka PWC, Golder Kamuzora (wa tatu kulia), Afisa mwandamizi toka bodi ya michezo ya kubahatisha, Bw. Jehud Ngolo (wa kwanza kushoto), Afisa Mauzo toka SBL, Anitha Moshi, (wa kwanza kulia). Droo hiyo iliyofanyika katika baa ya Hongera jijini Dar es salaam.

ORANGE AND AIRTEL JOIN FORCES TO ENABLE INTERNATIONAL MONEY TRANSFERS BETWEEN COTE D'IVOIRE AND BURKINA FASO

With “Orange Money International Transfer”, Orange Money customers can easily use their mobile phones to transfer electronic money in real-time

ABIDJAN, Côte d’Ivoire, March 13, 2015/ -- As of today, customers of Orange Money in Côte d’Ivoire can use their mobile phones to send money to customers of Airtel Money in Burkina Faso, and vice versa. This partnership between Orange (http://www.orange.com) and Airtel enables Orange customers, for the first time, to send and receive money to or from people based in a country outside the Group’s footprint. In addition, thanks to the interconnection between the two operators’ mobile money platforms, it is also the first time that people living in Burkina Faso will be able to send money to contacts in Côte d’Ivoire using their mobile phones.

This partnership builds on the existing “Orange Money International Transfer” offer, which enables Orange Money customers based in Senegal, Côte d’Ivoire and Mali to carry out cross-border money transfers. Since its introduction in July 2013, the service has been a considerable success with over 200,000 users to date.