UNITED BANK FOR AFRICA AWARDS BEST EMPLOYEE OF THE QUARTER

Relationship Manager Nicholaus Shimba (right) receiving his certificate from the COO Mr. Chris Byaruhanga (left) in recognition of his significant performance in the second quarter.

Relationship Manager Nicholaus Shimba giving a word of thanks after receiving his certificate in recognition of his significant performance in the second quarter.

Relationship Manager Nicholaus Shimba giving a word of thanks after receiving his certificate in recognition of his significant performance in the second quarter.

One of the staff taking an autograph enjoying the moment with the winner of the employee of the quarter Nicholaus Shimba (right)

A cross section of employees enthusiastically listening to the speech of the MC of the day M/S Queen Odunga the Customer Service Quality Officer not in pictures as she announces the employee of the second quarter.

BARCLAYS BANK TANZANIA LAUNCHES VISA PLATINUM US DOLLAR DEBIT CARDS

Barclays Bank Product Manager, Valence Luteganya (L), launches the Barclays Visa Platinum US Dollar Debit card in Dar es Salaam yesterday. With him is Barclays Retail Director, Mr Kumaran Pather.

NAIROBI TERMED 'HUB OF IMPACT INVESTMENT' AS REGION ATTRACTS $9 BILLION

East Africa is fast becoming a hotspot for impact investing that promotes not just profits but also sound environmental and social principles.

In the past five years, about $9.3 billion in impact investment funds has flowed into the region, according to the latest report produced by the UK Department for International Development (DfID), the Global Impact Investing Network (GIIN) and Open Capital Advisors.

Nairobi is identified as the hub of the funding and headquarters of the managers handling the deals, with about half of the $9.3 billion being invested in the country. Uganda and Tanzania received 13 per cent and 12 per cent of the total investments respectively.

“Nairobi is the physical hub for impact investing in the region, where 48 impact investors have local offices, and is often the first port of call for impact investors operating in the region,” says the report.

HOPES HIGH AS UGANDA TARGETS ANOTHER 8 BILLION BARRELS IN OIL-RICH AREA

Tullow workers at a rig in Buliisa in western Uganda. The government estimates there are undiscovered oil deposits of 8 billion barrels.

As Uganda inches closer to announcing new exploration and production licences that will pump fresh energy into its oil and gas sector, it estimates the amount of its undiscovered deposits at over 8 billion barrels.

According to a senior official at the Ministry of Energy and Mineral Development, this would increase the country’s volume of oil from 6.5 billion barrels to over 15 billion barrels.

This would push Uganda’s discovery ratings above most oil producing countries. Currently, its recoverable volumes of 1.4 billion barrels place it just outside the top 10 African countries that have the biggest reserves.

COURT HALTS KENYA REVENUE AUTHORITY'S NEW CLEARANCE SOFTWARE

The High Court in Nairobi has stopped the purchase of an electronic Customs clearance software by the Kenya Revenue Authority in a landmark case experts say will guide public agencies in outsourcing contracts to third parties who fund projects.

In its July 28 ruling, the court ordered KRA and its procuring agent TradeMark East Africa not to install the $8.2 million Integrated Customs Management System (iCMS) until a dispute filed by the losing bidder, Webb Fontaine Group, is determined. The tender was won by Bulls Ms.

ICMS was to replace the Simba System, which cannot be interfaced with those of other revenue bodies in East Africa.

OIL FIRMS IN SOMALIA PROVED OVER GRAFT CLAIMS

Britain’s Serious Fraud Office (SFO) has launched investigations into oil firms operating in Somalia over corruption allegations.

The SFO is investigating Soma Oil & Gas Holdings Ltd, Soma Oil & Gas Exploration Ltd, and Soma Management Ltd over payment of about $600,000 to the Somalia Ministry of Petroleum and Mineral Resources under the capacity building agreement.

The money is alleged to have been used to bribe senior government officials.

The independent government department responsible for investigating and prosecuting serious and complex fraud, bribery and corruption, said it is seeking information from whistleblowers with insider information.

“We welcome anyone with inside information... We can be contacted through our secure reporting channel, which can be accessed via the SFO website,” it said.

US AGENCY GIVES $0.8M TO LAKE VICTORIA SOLAR PROJECT

The United States Trade and Development Agency (USTDA) has given Rex Energy a grant of $818,000 to develop a 2MW solar mini-grid project for Tanzania’s Lake Victoria islands as part of the Power Africa project, which is aimed at increasing access to clean energy in sub-Saharan Africa.

The USTDA said the project will help to power 5,900 households and businesses in the Lake Victoria region.

USTDA director Leocadia Zak said the agency supports President Obama’s Power Africa initiative, which seeks to increase energy access and promote private sector investment in sub-Saharan Africa.

Rex Energy managing director Francis Kibhisa said the mini-grid system holds the key to rural electrification in Tanzania and the USTDA grant will help deliver pre-paid solar energy to the marginalised rural majority.

PRESS RELEASE: SUBMISSION OF TAX CLEARANCE CERTIFICATE AS A REQUIREMENT FOR ISSUANCE OF BUSINESS LICENCE

BARCLAYS BANK TANZANIA CONDUCTS TRAINING FOR ITS CORPORATE CLIENTS ON RISK MANAGEMENT

A South African based derivatives and financial risk specialist, Mr. Peter Skerritt (R) giving a lesson on financial risk management during a one week training organised by Barclays Bank Tanzania for its Corporate Clients in Dar es Salaam. The training aims in empowering them to protect their business when the country is experiencing fluctuation of the shilling against foreign currencies in the market.

Barclays Bank Tanzania hosts a one week training for its Corporate Clients on risk management, deliverance, foreign exchanges rates, corporate cash flow and their understanding on local and international market with the aims of empowering them to protect their business when the country is experiencing fluctuation of the shilling against foreign currencies in the market.

Speaking to reporters in Dar es Salaam, Barclays Bank Tanzania Head of Trading and Treasury Execution, Mr. Idd Davis said that the bank is conducting a one week training to its corporate customers to make them understand the market and protect their business against shilling depreciation.

TIB DEVELOPMENT BANK APPOINTS JAFFER S. MACHANO AS DEPUTY MANAGING DIRECTOR

TANZANIA'S MAJOR BANK'S POST GOOD Q2 RESULTS

Large banks continued to make impressive profits in this year’s second quarter, with some capitalizing heavily on the shilling fluctuation.

However, on the other hand, Barclays Bank and National Bank of Commerce (NBC) registered losses as a result of bad loans.

The figures for second quarter for Barclays and NBC show that the two banks NPLs are hovering around 10 per cent which is twice the industrial rate threshold.

So far, CRDB bank tops all the banks in term of profitability in the second quarter after posting a group pre-tax profit increase by almost 60 per cent to 37.9bn/-.

M-PAWA EDUCATION DRIVE TO BENEFIT MILLIONS

M-PAWA which Vodacom Tanzania and Commercial Bank of Africa (CBA Tanzania) co-launched last year has gained immense popularity in the country, boasting of two million customers, currently.

The customers benefit from the saving and borrowing products that M-Pawa offers. ‘M-Pawa Tumekufikia’ was launched to reach Tanzanians in rural and urban areas by educating them and ensuring that no Tanzanian is left out in reaping the benefits of this revolutionary service that has so far empowered many people.

Atuza Geoffrey, a resident of Mbagala Chamazi, is among millions of M-Pawa customers that has testimony on life changing power of the service and how it has helped her during emergencies and even for investments.

‘Whenever I have emergencies, M-Pawa has been my savior, I simply borrow from M-Pawa and repay after some time. Today I can borrow 65,000/- anytime and this amount continues to grow with my usage of the service," she said.

EUROMONEY MAGAZINE CROWNS NMB BEST BANK FOR THREE YEARS IN A ROW

NMB Bank Managing Director, Ms. Ineke Bussemaker, displays Euromoney's international award for excellence which the bank won for the third time in recognition of its efficiency, innovations and customer care services.

National Microfinance Bank (NMB) has been recognised by Euromoney, the global financial markets magazine as the best bank locally and internationally for three years in a row.

The Dar es Salaam Stock Exchange (DSE) listed bank has won the global prize after registering significant achievements within its operating environments.

The NMB counter had 59,840 shares traded at weighted average price of 2,870/- per share in 12 deals.

The NMB Managing Director, Ms Ineke Bussemaker, said in Dar es Salaam that the decision on the winners, depending on the number of submissions received globally, is done by the panel of distinguished local and international judges from various professional backgrounds.

BANK PUBLIC RELATIONS OFFICER IN DOCK OVER 1BN/- MONEY LAUNDERING, FRAUD

KCB Bank Public Relations Officer, Hassan Jumanne Pindo, appeared before the Kisutu Resident Magistrates' Court in Dar es Salaam charged with money laundering and obtaining about 1bn/-by false pretences.

Before Senior Resident Magistrate Emilius Mchuru, the accused denied the charges. He was ordered to be remand as the offences he is facing, in particular that of money laundering, is not bailable.

The case has been set for mention on August 17, as investigations have not been completed.

Prosecuting, Senior State Attorney Christopher Msigwa told the court that the accused committed the offence on June 29, this year, at the bank’s headquarters and Oysterbay Branch in the city.

It is alleged that on the said date at the bank’s headquarters, with intent to defraud, the accused forged an invoice dated March 15, 2015, purporting to show that Zenj Motors Company Limited supplied two units of motor vehicles, made Foton Auman, both valued at 193,600 US dollars.

LADY JAYDEE APPOINTED GGM KILI CHALLENGE AMBASSADOR

Judith Wambura alias Lady Jaydee.

Tanzania Commission for AIDS (TACAIDS) has appointed renowned songbird Judith Wambura alias Lady Jaydee, as the GGM Kili Challenge Goodwill Ambassador 2015, to raise awareness on the HIV and AIDS pandemic.

TACAIDS Executive Chairperson Fatma Mrisho told a joint press conference with AngloGold Ashanti Geita Gold Mine (GGM) in Dar es Salaam yesterday that the musician would use her influence to attract more individuals and companies to contribute to the initiatives.

“Our Goodwill Ambassador will do everything from raising awareness via word of mouth and social media and collaborate with our Kili Challenge team in hosting events to attract more participation in the Kili Challenge,” she said.

TAMASHA LA NHC FAMILY DAY LAFANYIKA KUNDUCHI BEACH HOTEL

Mkurugenzi wa Rasilimaliwatu wa Shirika la Nyumba la Taifa, James Rhombo akimkabidhi kombe la ushindi wa kuvuta kamba kapteni wa timu ya kuvuta kamba ya NHC Kinondoni baada ya kuibuka mabigwa katika Bonanza la michezo ya Familia lililofanyika Kunduchi Beach Wet and wild.

Kikosi cha wasimamizi wa michezo ya Bonanza hilo la familia la NHC kikiwa katika picha ya pamoja na Mkurugenzi wa Rasilimaliwatu wa Shirika la Nyumba la Taifa, James Rhombo na Mkuu wa Kitengo cha Mawasiliano kwa Umma na Huduma kwa Jamii cha Shirika la Nyumba la Taifa, Susan Omari.

Daktari akitoa somo katika Bonanza hilo.

Kikosi cha timu ya mpira wa miguu cha mojawapo ya timu zilizochuana katika Bonanza hilo kikiwa katika picha ya pamoja.

Penati.

Wakiwa katika mazoezi ya pamoja kupasha misuli. Shirika la Nyumba la Taifa linayo Gym maalumu kwa wafanyakazi yenye vifaa vya kutosha vya kisasa kwaajili ya wafanyakazi kujiweka sawa kiafya.

Wafanyakazi wakiendelea na michezo ya Volleyball.

Mkuu wa Kitengo cha Huduma na Mawasiliano wa NHC, Bi Susan Omari akipata maelezo kutoka kwa baadhi ya wafanyakazi wa shirika hilo waliokuwa wakisimamia michezo mbalimbali wakati wa tamasha la NHC Family Day lililofanyika kwenye hoteli ya Kunduchi Beach mwishoni mwa wiki likishirikisha wafanyakazi wa shirika hilo jijini Dar es salaam na familia zao na kufahamiana ikiwani pamoja na kubadilishana mawazo.

EOI - TANZANIA - DESIGN & SUPERVISION OF CONSTRUCTION FOR THE CARDIOVASCULAR

DIAMOND TRUST BANK NEW MWANZA BRANCH NOW OPEN

TANZANIA BREWERIES, CRDB BANK TOP TRADING AT DAR BOURSE

Tanzania Breweries Limited (TBL) and CRDB Bank Plc have for the second week emerged the most traded equities at the Dar es Salaam Stock Exchange (DSE) after contributing 84.19 per cent and 10.05 per cent respectively, of the total turnover.

Also, Tanzania Breweries Limited, the country’s largest brewery firm emerged as the top gainer dominating the price movement within local listed companies.

According to the Zan Securities Limited Weekly Wrap-ups, TBL experienced a 3.38 per cent price increase per share or 490/- closing at 5,000/- per share.

For cross-listed companies, East African Breweries Limited (EABL) dominated the price movement. EABL experiences a 20/- or 0.33 per cent price increase per share, closing at 6,020/-.

Despite the outstanding performance of some counters, the equity market experienced a significant decrease in total turnover, closing at 2.86bn/-, which is 49 per cent lower compared 5.58bn/- of the preceding week.

EAST AFRICAN BREWERIES TO DEFEND TANZANIA INVESTMENT

Kenya's East African Breweries Limited (EABL) said last week it would try to convince government authorities not to revoke its acquisition of a controlling stake in Tanzania’s second-largest brewery.

Tanzania’s Fair Competition Commission (FCC) said early this month that it wants to revoke EABL’s 51 per cent stake in Serengeti Breweries, acquired five years ago, accusing the Kenyan company of not meeting some conditions.

EABL, which is controlled by Britain’s Diageo, paid 60 million US dollars for its stake in Serengeti, giving it a 28 per cent share in a market offering high growth potential. But the FCC has accused EABL of not making good on pledges made when it obtained permission for the deal. EABL has denied the accusation.

The FCC said in a statement on June 29 an investigation into the merger revealed that the “performance of SBL was not as per expectations of the Commission.”

It said it had approved the merger in 2010 under the condition that EABL would enable Serengeti to achieve “potential growth that is well beyond the level it was able to achieve previously.”

MAENDELEO BANK PLC POSTS FIRST PROFIT

Maendeleo Bank plc has posted its first pre-tax profit of 208m/- some two years since it officially opened business in Dar es Salaam, thanks to revenue from loans.

The bank established by the Evangelical Lutheran Church of Tanzania (ELCT), Eastern and Coastal Diocese and listed at Dar es Salaam Stock Exchange (DSE)’s alternative market in 2013, projected to make a first profit in its third year.

However, it beat the deadline by a year. The bank attributed the profit to net interest income that jumped from 474m/- last June to 1.08bn/- in June, this year.

DANGOTE CEMENT REPORTS PROFIT JUMP ON AFRICAN GROWTH, AS IT INVESTS IN 16 ECONOMIES IN CONTINENT

Aliko Dangote: Investments in rest of Africa helped off-set sluggish growth in Nigerian market.

DANGOTE Cement Plc, Africa’s biggest producer of the building material, said first-half profit rose 28% as the benefits of expansion helped make up for “uncertainties” in its home market of Nigeria.

Net income was 121.8 billion naira ($614 million) in the six months through June, compared with 95.4 billion naira in the same period a year earlier, the Lagos-based company said in an e-mailed statement.

Sales gained 16% to 242 billion naira. The company has 40 million metric tons of installed capacity across three cement plants in Nigeria, an import terminal in Ghana and factories that have recently opened in Ethiopia, Zambia, South Africa, Senegal and Cameroon, it said.

STRATEGIC PARTNER MAY BE KENYA AIRWAY'S ONLY WAY OUT OF ITS FINANCIAL TAILSPIN

With Kenya’s national flag carrier Kenya Airways (KQ) having plunged deeply into debt, authorities in Nairobi may have no option but to bring in a strategic partner with the financial muscle and capacity to finance both the company’s long-term obligations and its 10-year strategic plan.

The airline on Thursday announced it had made a loss of $251.1 million, which it attributed to competition from Middle East carriers, hedging losses and high operating costs. Last year, KQ posted $28.9 million in losses.

READ: Qatar, Turkish cause waves in regional airline market

Airline industry experts now suggest that, considering the financial health of the global airline industry, the best prospect for Kenya is likely to be a partnership with the rich Gulf airlines — Emirates, Qatar Airlines or Etihad — keen to establish a foothold in East Africa’s most profitable transport hub and the lucrative connections and links it has with other transport hubs in Asia.

KUPIGWA MARUFUKU UFUNGAJI NA MATUMIZI YA VYOMBO VINAVYOZUIA MAWASILIANO (SIGNAL JAMMERS)

TCRA YAPATA MKURUGENZI MPYA

TANZANIA COMMUNICATIONS REGULATORY AUTHORITY GETS A NEW DIRECTOR GENERAL

FACEBOOK IS CELEBRATING THE ONE-YEAR ANNIVERSARY OF THE INTRODUCTION OF THE INTERNET.ORG APP

Chris Daniels, Vice President of Internet.org.

One year in: How Facebook’s Internet.org Free Basic Services are bringing people online

Facebook is celebrating the one-year anniversary of the introduction of the Internet.org app by hosting a Developer Day at iHub in Nairobi, Kenya on Monday, 27 July

NAIROBI, Kenya, July 27, 2015/ --

• Internet.org brings new users onto mobile networks on average over 50% faster after launching free basic services

• More than half of the people who come online through Internet.org are paying for data and accessing the internet within the first month

• Internet.org users accessed health services more than a million times just in the past month

MSIMU MPYA WA KANDANDA NDANI YA DSTV KUTIMUA VUMBI WIKI HII

Meneja Uhusiano wa Kampuni ya Multichoice Tanzania, Barbara Kambogi, akizungumza na waandishi wa habari (hawapo pichani) wakati wa utambulisho wa msimu mpya wa kandanda kwa wateja wa DStv jana jijini Dar es Salaam. Kushoto ni Afisa Masoko wa Multichoice Tanzania, Furaha Samalu na kulia ni Meneja Mwendeshaji wa Multichoice Tanzania, Ronald Baraka Shelukindo.(Picha zote na Zainul Mzige wa modewjiblog).

Meneja Uendeshaji wa Multichoice Tanzania, Ronald Baraka Shelukindo, akijibu maswali ya waandishi wa habari (hawapo pichani) kuhusiana na huduma za DStv. Kushoto ni Meneja Uhusiano wa Kampuni ya Multichoice Tanzania, Barbara Kambogi.

Afisa Masoko wa Multichoice Tanzania, Furaha Samalu, akielezea huduma za kuunganishwa kwa wateja wapya wa DStv, ambapo ving'amuzi pamoja na dishi vinapatikana kwa gharama nafuu kabisa ya Sh.99,000/- kwa mawakala wote wa DStv nchini.

AfDB PRESIDENT DONALD KABERUKA PAYS FAREWELL VISIT TO TUNISIA, REITERATES THE BANK'S CONTINUED SUPPORT TO THE COUNTRY

The President of the African Development Bank, (AfDB), Donald Kaberuka whose mandate ends on 31 August 2015, paid a farewell visit to Tunisia’s President Béji Caïd Essebsi on Friday. He expressed the Bank’s gratitude to the Tunisian government and people for the hospitality the Bank received during its relocation to Tunis from 2003 to 2014.

"We are very grateful for what Tunisia has done for the African Development Bank," he said.

The Tunisian President in turn thanked Kaberuka for his visit and paid tribute to the AfDB's unwavering support to his country. President Essebsi also expressed his best wishes for the Bank's success and emphasized the crucial role it plays in promoting the development of the continent.

VOLKSWAGEN HAS OVERTAKEN TOYOTA TO BECOME THE WORLD'S BIGGEST CARMAKER

Michael Horn poses for a photo during the New York International Auto Show in New York.

MUNICH/TOKYO (Reuters) - Volkswagen overtook Toyota as the world's largest carmaker by sales in the first half year, achieving its long-held ambition three years ahead of target.

But staying on top will be a challenge for the German maker of the Golf and Polo, as deliveries are falling in China, destination of a third of its global sales, making it overly reliant on relatively stagnant western European demand.

"The hunt for scale only makes sense if it boosts synergies, something VW hasn't really been able to achieve," said Stefan Bratzel, head of the Center of Automotive Management think-tank. "Dependence on China is VW's weak spot and managing such a large group inevitably poses problems."

NMB HEAD OFFICE RELOCATION - PUBLIC ANNOUNCEMENT

FORMER GHANAIAN PRESIDENT, HON. JERRY RAWLINGS MEETS ECO BANK TANZANIA STAFF

Former Ghanaian President Hon. Jerry John Rawlings listens carefully as he gets a brief from the Ghanaian ambassador to Tanzania, Dr. Ken Kwaku related to the performance of Eco bank in Ghana and Africa at large, where they also discussed on how to maintain the good relationship that exists between Ghana and Tanzania and how to expand the scope of business between Ghana and Tanzania. (In the middle) is Ghanaian ambassador to Kenya Hon. Karim. The conference was organized by Eco bank Tanzania at Serena Hotel in Dar es Salaam.

(First right) is the Director General of Eco bank Tanzania Mr. Enoch Osei-Safo with the bank staff members, Eco bank customers and invited guests carefully listening to former President of Ghana Hon. Jerry John Rawlings speaking about the relationship and strategies of expanding the business scope between Ghana and Tanzania through Eco bank. The conference was organized by Eco bank Tanzania and held at Serena Hotel in Dar es Salaam.

Former President of Ghana, Hon. Jerry John Rawlings speaks during a conference which gathered Eco bank staff members in Tanzania, Ghanaian citizens living in Tanzania, Eco bank customers and invited guests in Dar es Salaam, talking about the strategies on how to maintain the good relationship that exists between Ghana and Tanzania and how to expand the scope of business between Ghana and Tanzania. The conference was organized by Eco bank Tanzania at Serena Hotel in Dar es Salaam.

Former President of Ghana, Hon. Jerry John Rawlings speaks during a conference which gathered Eco bank staff members in Tanzania, Ghanaian citizens living in Tanzania, Eco bank customers and invited guests in Dar es Salaam, talking about the strategies on how to maintain the good relationship that exists between Ghana and Tanzania and how to expand the scope of business between Ghana and Tanzania. The conference was organized by Eco bank Tanzania at Serena Hotel in Dar es Salaam.

Former President of Ghana, Hon. Jerry John Rawlings speaks during a conference which gathered Eco bank staff members in Tanzania, Ghanaian citizens living in Tanzania, Eco bank customers and invited guests in Dar es Salaam, talking about the strategies on how to maintain the good relationship that exists between Ghana and Tanzania and how to expand the scope of business between Ghana and Tanzania. The conference was organized by Eco bank Tanzania at Serena Hotel in Dar es Salaam.

Eco bank Tanzania staff listening to Former President of Ghana Hon. Jerry John Rawlings who was speaking to the Tanzania Eco bank staff members, Ghanaian citizens living in Tanzania, Eco bank customers and invited guests in Dar es Salaam, talking about the strategies on how to maintain the good relationship that exists between Ghana and Tanzania and how to expand the scope of business between Ghana and Tanzania. The conference was organized by Eco bank Tanzania at Serena Hotel in Dar es Salaam.

Tanzania Ecobank staff in the picture together with the former President of Ghana, Hon. Jerry John Rawlings (middle) immediately after finishing the conference that brought together Tanzania Ecobank staff members, Ghanaian citizens living in Tanzania, Ecobank customers and invited guests in Dar es Salaam, talking about the strategies on how to maintain the good relationship that exists between Ghana and Tanzania and how to expand the scope of business between Ghana and Tanzania. The conference was organized by Eco bank Tanzania at Serena Hotel in Dar es Salaam.

AUSTRALIAN INVESTORS EYE TANZANIA'S GAS INDUSTRY

Several Australian companies have shown interest to invest in the country's natural gas industry, says the Tanzania Investment Centre (TIC).

The Mtwara Gas Pipeline is expected to be inaugurated later this month and the facility will enable the country to produce 2800MW of power by 2016.

East Africa is now a new oil and gas frontier after a string of hydrocarbon discoveries, which producers hope to exploit to supply energy-hungry Asian markets. Tanzania estimates it has more than 55 trillion cubic feet (tcf) of natural gas.