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Tuesday, 25 August 2015
EXIM BANK TANZANIA'S PROFIT SOARS BY 69%
Dar es Salaam, August 24, 2015 - EXIM Bank posted a pretax profit of TZS 12.79 Billion for the Quarter ended Jun 2015 as compared to TZS 7.56 Billion the previous quarter, depicting a 69% Quarter on Quarter (QoQ) growth.
“We are pleased to report good results for the second quarter of the 2015 financial year,” said Selemani Ponda, the Exim Bank Chief Finance Officer (CFO), speaking to journalists in Dar es Salaam.
The pre-tax profit for the cumulative period ended June 2015 was TZS 17.87 Billion, (28%) higher than TZS 13.96 Billion for the corresponding period in the previous year.
“We are pleased to report good results for the second quarter of the 2015 financial year,” said Selemani Ponda, the Exim Bank Chief Finance Officer (CFO), speaking to journalists in Dar es Salaam.
The pre-tax profit for the cumulative period ended June 2015 was TZS 17.87 Billion, (28%) higher than TZS 13.96 Billion for the corresponding period in the previous year.
Saturday, 22 August 2015
9 BILLION-DOLLAR MEGAPROJECTS THAT WILL CHANGE AFRICA
Wednesday, 19 August 2015
AfDB PRESIDENT KABERUKA RECEIVES BENIN'S HIGHEST HONOURS
African Development Bank President Donald Kaberuka was awarded on Monday, August 10 in Cotonou, Benin, the country’s highest honours, the title of Grand Officer in the National Order of Benin.
Kaberuka received the honours on the occasion of his last official visit to Benin as AfDB President. The award was in recognition of the important role played by Kaberuka at the head of the African Development Bank, in improving the lives of all Africans and the people of Benin in particular.
Benin’s President Boni Yayi saluted Kaberuka’s leadership and his vision, which he said permitted the Bank to position itself as one of Africa’s premier development institutions and a key player in the continent’s regional integration.
TANZANIA: POACHING THREATENS TOURISM INDUSTRY GROWTH
Poaching in Tanzania is threatening to undermine the East African nation’s growing tourism economy, one otherwise poised to add hundreds of thousands of jobs in the coming years.
Dr. Adelhelm Meru, permanent secretary of Tanzania’s Ministry of Natural Resources and Tourism, warns that poaching could affect as many as 3.8 million tourism-sector jobs across Africa, including guides, drivers, and hotel and restaurant staff.
All Africa reports:
Tanzania, like many African nations, has been hard hit by poaching over the past decade. Last year a survey revealed that the country had lost more than half its elephants, with populations declining from 110,000 in 2009 to fewer than 44,000. Tanzania's iconic giraffes, the country's national symbol, have also suffered, as has much of its other wildlife.
Dr. Adelhelm Meru, permanent secretary of Tanzania’s Ministry of Natural Resources and Tourism, warns that poaching could affect as many as 3.8 million tourism-sector jobs across Africa, including guides, drivers, and hotel and restaurant staff.
All Africa reports:
Tanzania, like many African nations, has been hard hit by poaching over the past decade. Last year a survey revealed that the country had lost more than half its elephants, with populations declining from 110,000 in 2009 to fewer than 44,000. Tanzania's iconic giraffes, the country's national symbol, have also suffered, as has much of its other wildlife.
KAMPUNI YA SWALA YAAHIDI MAKUBWA, MWAKA MMOJA BAADA YA KUINGIA KATIKA SOKO LA HISA
GLAMOUR AS EXIM BANK TANZANIA CELEBRATES 18TH ANNIVERSARY
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| Exim Bank Chief Executive Officer Dinesh Arora speaks during the 18th Anniversary Celebration of the bank in Dar es Salaam over the weekend. |
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| Exim Bank Tanzania staff in a cheery mood during a celebration event organized to mark the 18th anniversary of the bank in Dar es Salaam over the weekend. |
The bank, which is a local Tanzanian bank began operations on 15th August, 1997 with a single branch at Samora Avenue, in Dar es Salaam to date boasts of a network of 30 branches in Tanzania and 7 outside the country with the bank’s total assets crossing the Tshs 1.1 trillion milestones as at June this year. The bank has a total footprint of 57 ATM’s in Tanzania, over 250 points of sales and is present in 16 regions of the country serving over 180,000 customers.
Tuesday, 18 August 2015
WAZIRI MEMBE ATEMBELEA MABANDA YA MAONYESHO WAKATI WA KONGAMANO LA DIASPORA
| Waziri Membe akionyeshwa na Bw. Mataragio eneo bomba la gesi asilia lilipopita kwenye Mchoro wa Ramani ya Tanzania uliopo mbele yao. |
KONGAMANO LA DIASPORA NA WAJASIRIAMALI LAFANYIKA JIJINI DAR ES SALAAM
| Balozi wa Marekani nchini, mhe. Childress akichangia mada kuhusu mabadiliko ya kiuchumi Tanzania wakati wa Kongamano la Diaspora. |
| Bw. Miles nae akichangia wakati wa mjadala kuhusu mabadiliko ya kiuchumi nchini Tanzania na namna ya kuwashirikisha wafanyabiashara wadogo na wakati katika maendeleo ya nchi. |
| Balozi Mulamula akizungumza wakati wa mjadala huo. |
| Balozi wa China nchini, Mhe. Lu Youqing akiwasilisha mada kuhusu Mapinduzi ya Viwanda nchini na wajibu wa Diaspora katika ukuaji wa SME's. |
CONSTRUCTION OF POWER PROJECTS IN TANZANIA SET TO START
Construction of power projects in Tanzania is set to begin after 4 companies in the country were announced beneficiaries of US president Barrack Obama’s Power Africa initiative. The companies will eventually help in the expansion of renewable energy solution which targets rural areas.
The grants to construct the power projects in Tanzania which have been awarded by General Electric Africain conjunction with the US African Development Foundation (USADF) and the US Agency for International Development (USAID) will see each winner receive up to US$ 100,000.
Several small power projects in Tanzania are expected to especially connect rural areas with electricity and eventually boost their economy.
Monday, 17 August 2015
NO CONDUCTORS IN DAR'S BRT TRIALS. WITH A MONTH TO FULL LAUNCH, 400 DRIVERS NEEDED, ONLY 130 RECRUITED
Trial runs for the Dar es Salaam Bus Rapid Transit (BRT) begin today with two buses that will have a driver but no conductor and, instead, an electronic payment system being used.
Today’s trials will run along the Morogoro road running from Kimara to Kivukoni ahead of the planned full launch in early October.
Today’s launch, according to the Director of UDA Rapid Transit Company (UDART) Sabri Mabrouk, will go together with official opening of a special drivers’ training who will commandeer a fleet of 76 modern buses along the new BRT.
“The interim service begins today with two modern buses plying between Kimara and Kivukoni area,” he announced yesterday in the city.
TANZANIA'S TOP 100 MID-SIZED COMPANIES WINNERS REVEALED
The winners of the Tanzania Top 100 Mid-Sized Companies awards for year 2015/16 were finally revealed during the prestigious corporate event which took place last Friday at the Mlimani City Conference hall.
The Top 5 awards were scooped by Softnet Technologies Ltd, Morogoro Plastics Ltd, Kays Logistics Ltd, Abacus Pharma Ltd and Techno Brain Tanzania Ltd.
The Top 100 Mid-Sized Companies awards are presented to the Mid- sized companies which have successfully managed to achieve growth whilst adopting corporate governance in their business operations. The annual survey covers a broad range of factors including high level of growth in term of business turnover, profitability, operating costs, return on assets, creation of employment and compliance to business regulations including payment of government taxes.
The Top 5 awards were scooped by Softnet Technologies Ltd, Morogoro Plastics Ltd, Kays Logistics Ltd, Abacus Pharma Ltd and Techno Brain Tanzania Ltd.
The Top 100 Mid-Sized Companies awards are presented to the Mid- sized companies which have successfully managed to achieve growth whilst adopting corporate governance in their business operations. The annual survey covers a broad range of factors including high level of growth in term of business turnover, profitability, operating costs, return on assets, creation of employment and compliance to business regulations including payment of government taxes.
CRDB BANK RIGHTS ISSUE GETS IMPRESSIVE SUCCESS
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| CRDB Bank Managing Director, Dr Charles Kimei. |
The bank in June 26, staged the right issue in a bid to raise slightly over 150bn/- to finance the firm's expansion drive and meeting the regulator's minimum core capital requirement.
The bank's shareholders bought 70.5 per cent of the share at a price of 350/- a stock leaving the rest 29.5 per cent to underwriters.
The CRDB Bank Managing Director, Dr Charles Kimei, said the right offer exercise was successful as shareholders purchased 306,833,746 shares.
"We have reached our targeted goal by hundred per cent. This is a great success," Dr Kimei told a news conference. He added: "At the moment the bank has finalised listing of the said changes in shares on Dar es Salaam Stock Exchange (DSE) as per regulations."
The exercise of updating shareholding status at the bourse is expected to end on Wednesday. The underwriters -- CDC Group Plc, International Finance Corporation (IFC) and Africa Capitalisation Fund Ltd -- gave a 32/- per share for those who failed to buy thus maintained a 100 per cent subscription of 435.5 million shares.
DAR ES SALAAM STOCK EXCHANGE POSTS 28BN/- SUPERB TURNOVER
The Dar es Salaam Stock Exchange (DSE) equity market made a turnaround last week after registering superb turnover of 28.68bn/- compared to 1.67bn/- in the preceding session.
According to Zan Securities Limited Weekly Market Wrap-ups, the Tanzania Breweries Ltd (TBL) and CRDB Bank emerged as most traded equities after contributing 95.92 per cent and 1.55 per cent respectively.
Similarly, Tanzania Portland Cement Company (TPCC) and Tanzania Breweries Ltd (TBL) emerged as the top gainer dominating the price movement within local listed companies ending this week.
TPCC experienced a 390/- or 11.47 per cent increase per share, closing at 3,790/- per share. TBL experienced a 100/- or 0.67 per cent increase per share, closing at 15,100/- per share.
For the cross-listed companies, Acacia Mining (ACA) and Jubilee Holding Ltd (JHL) dominated the price movement. ACA experienced a 410/- or 5.29 per cent increase per share, closing at 8,160/- and JHL experienced a 200/- or 1.73 per cent increase per share, closing at 11,730/- per share.
According to Zan Securities Limited Weekly Market Wrap-ups, the Tanzania Breweries Ltd (TBL) and CRDB Bank emerged as most traded equities after contributing 95.92 per cent and 1.55 per cent respectively.
Similarly, Tanzania Portland Cement Company (TPCC) and Tanzania Breweries Ltd (TBL) emerged as the top gainer dominating the price movement within local listed companies ending this week.
TPCC experienced a 390/- or 11.47 per cent increase per share, closing at 3,790/- per share. TBL experienced a 100/- or 0.67 per cent increase per share, closing at 15,100/- per share.
For the cross-listed companies, Acacia Mining (ACA) and Jubilee Holding Ltd (JHL) dominated the price movement. ACA experienced a 410/- or 5.29 per cent increase per share, closing at 8,160/- and JHL experienced a 200/- or 1.73 per cent increase per share, closing at 11,730/- per share.
NATIONAL ECONOMIC EMPOWERMENT COUNCIL UPBEAT ON VILLAGE BANKS
Local entrepreneurs have been urged to join Village Community Banks (Vicoba) to attain sustainable development individually and that of the nation.
The Executive Secretary, National Economic Empowerment Council (NEEC), Ms Beng'i Issa, made the appeal in Dar es Salaam over the weekend at the inauguration of a special Tanzania Postal Bank (TPB) ATM card for members of Vicoba.
The ATM card to be used through the Postal Bank intends to facilitate and smoothen transactions by members of Vicoba throughout Tanzania.
The Executive Secretary, National Economic Empowerment Council (NEEC), Ms Beng'i Issa, made the appeal in Dar es Salaam over the weekend at the inauguration of a special Tanzania Postal Bank (TPB) ATM card for members of Vicoba.
The ATM card to be used through the Postal Bank intends to facilitate and smoothen transactions by members of Vicoba throughout Tanzania.
TRAINING FOR DAR RAPID BUS TRANSIT DRIVERS BEGINS
UDART Executive Chairman, Mr Robert Kisena, said that 130 qualified drivers have been recruited for training ahead of the inauguration of the service scheduled for early October.
He said training would be conducted by instructors from Vocational Education Training Authority (VETA) and a few Chinese experts. "We will start tomorrow (today) and we expect to recruit 300 drivers," Mr Kisena noted.
UDART Director, Mr Sabri Mabruk, said the firm would start with two buses for training, but more vehicles were expected in the country in a couple of weeks.
BUSINESSMEN GO TO COURT TO OPPOSE SELLING HOUSE TO SETTLE 900M/- LOAN
Two businessmen have rushed to the High Court’s Land Division to oppose the move by International Commercial Bank (Tanzania) Limited and three others of selling a house situated at Kariakoo Area in Dar es Salaam to recover 900m/- loan facility.
The businessmen, Mr Mudrik Rashid Khamis and Mr Edward Eugen Mushi, filed application for injunction last week under certificate of urgency, as the bank and three other respondents were intending to dispose of the premises situated on Plot Number 22 Block 5, whose owner is a deceased.
“May this honourable court be pleased to grant an order of temporary injunction restraining the respondents, their agents or anyone acting on their behalf from selling Plot No. 22, Block 5 in execution of the mortgaged transaction between the respondents,” reads part of the application.
Judge Gerald Ndika is set today to hear the application lodged by the two businessmen, through legal services of Makoa Law Chambers, Advocates.
Other respondents in the matter include Asia Hassan, V.D. Enterprises Company Limited and two businessmen Mitul Shah and Indumat Shah.
Mr Khamis and Mr Mushi, who are applicants in the matter, are seeking the injunction orders, pending determination of a main suit under which they are opposing the title deed of the plot in question which had been deposited in court as bail bond to be mortgaged to obtain the loan after being stolen.
The businessmen, Mr Mudrik Rashid Khamis and Mr Edward Eugen Mushi, filed application for injunction last week under certificate of urgency, as the bank and three other respondents were intending to dispose of the premises situated on Plot Number 22 Block 5, whose owner is a deceased.
“May this honourable court be pleased to grant an order of temporary injunction restraining the respondents, their agents or anyone acting on their behalf from selling Plot No. 22, Block 5 in execution of the mortgaged transaction between the respondents,” reads part of the application.
Judge Gerald Ndika is set today to hear the application lodged by the two businessmen, through legal services of Makoa Law Chambers, Advocates.
Other respondents in the matter include Asia Hassan, V.D. Enterprises Company Limited and two businessmen Mitul Shah and Indumat Shah.
Mr Khamis and Mr Mushi, who are applicants in the matter, are seeking the injunction orders, pending determination of a main suit under which they are opposing the title deed of the plot in question which had been deposited in court as bail bond to be mortgaged to obtain the loan after being stolen.
SADC SUMMIT SET TO DISCUSS REGION'S POLITICAL SITUATION
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| President Jakaya Kikwete. |
President Jakaya Kikwete is expected to address the summit and bid farewell to his counterparts on Tuesday.
Deputy Foreign Affairs and International Cooperation Minister, Dr Mahadhi Juma Maalim, told the ‘Daily News’ here that the SADC Ministerial Council had deliberated on the agendas that would be discussed by the Heads of State for further action.
“They will discuss political situation in member states, especially the recent elections in Lesotho and upcoming general elections in Tanzania and other member states.
They will also discuss defence and security, especially instability in the Democratic Republic of Congo (DRC), Lesotho and Madagascar”, Dr Mahadhi said.
MOBILE MONEY SUBSCRIBERS ON THE RISE ACROSS THE REGION
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| East Africans are now using mobile money platforms to move cash equivalent to a third of the value of goods and services produced in the region, the latest industry statistics show. |
Consumers in Kenya, Uganda, Rwanda and Tanzania last year transacted $45.75 billion through their mobile phones — translating into 32 per cent of their combined gross domestic product — up from $4.86 billion or 3.4 per cent of GDP in 2009.
The annual growth in volumes means that East African consumers are moving an average of $3.8 billion monthly or $125 million per day compared with the $13.3 million a day they transacted five years ago.
The number of registered mobile money subscribers across the four countries was 82.3 million as at December last year, up from 29 million customers in 2009.
FITCH AFFIRMS AFRICAN DEVELOPMENT BANK AT ‘AAA’; OUTLOOK STABLE
Fitch Ratings has affirmed the African Development Bank (AfDB)’s Long-term Issuer Default Rating (IDR)'s at ‘AAA’ with a Stable Outlook. The Short-term IDR has been affirmed at 'F1+'.
The ratings are underpinned by strong support from AfDB’s shareholders and by the Bank's intrinsic strengths, in particular its solid capitalisation, high liquidity and conservative risk management policies.
The full press release is available on: https://www.fitchratings.com/site/fitch-home/pressrelease?id=989044
The ratings are underpinned by strong support from AfDB’s shareholders and by the Bank's intrinsic strengths, in particular its solid capitalisation, high liquidity and conservative risk management policies.
The full press release is available on: https://www.fitchratings.com/site/fitch-home/pressrelease?id=989044
KAMPUNI YA TIGO YATOA MSAADA HOSPITALI YA RUFAA YA LIGULA MKOANI MTWARA
Sunday, 16 August 2015
Saturday, 15 August 2015
EXIM BANK TANZANIA OPENS NEW EXTENSION COUNTER IN ZANZIBAR
Wednesday, 12 August 2015
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