STANBIC BANK NAMED TANZANIA’S BANK OF THE YEAR

Officials from Standard Bank Group and The Banker Magazine, pose for a souvenir photo soon after the former was named Regional Bank of the Year for Africa at a recent gala awards dinner hosted in London.

Standard Bank Group also recognised for excellence in 5 other African markets

Dar es Salaam, Tanzania, 14 December 2016: The Banker Magazine, the world’s longest running international banking publication, named Stanbic Bank Tanzania as Tanzania’s “Bank of the Year 2016”, at a recent gala awards dinner hosted in London.

Stanbic Bank Tanzania is a member of the Standard Bank Group, which was simultaneously named Regional Bank of the Year for Africa and also scooped Bank of the Year accolades in Botswana, Malawi, South Africa, Swaziland and Uganda.

The Banker’s judging panel reported that the Standard Bank Group’s operations in all six African countries had made the most progress over the 12 months, not only in terms of strong financials, but also in the wide range of initiatives which the banking group undertook during this period.

TANZANIA INVESTMENT CENTRE SIGNS RESEARCH PARTNERSHIP WITH OXFORD BUSINESS GROUP

Hon Charles Mwijage, Minister for Trade, Industry & Development (centre), Mr Clifford Tandari, Executive Director for TIC (right) and Ivana Carapic, Country Director for Oxford Business Group (left) sign an MOU for the global research and consulting firm’s inaugural report on the country’s economy in Dar es Salaam early this week.

Dar es Salaam Tuesday 13 December 2016…. With Africa earmarked as the “next investment destination”, the time is right for Tanzania to highlight its investment opportunities on the international stage and enhance its business climate, Charles John Mwijage, the country’s minister for industry, trade and investment said.

The minister was speaking at the signing of a memorandum of understanding (MOU) between the Tanzania Investment Centre (TIC) and Oxford Business Group (OBG) for the global research and consulting firm’s inaugural report on the country’s economy.

Under the MOU, the TIC will provide research support to OBG’s in-country team as it begins collecting data for The Report: Tanzania 2017. The report, which will include more than 200 pages of original analysis on Tanzania’s investment and business environment, will be published in 2017.

The research partnership was signed on Tuesday this week at TIC’s offices, in the presence of Mwijage and Clifford Tandari, the centre’s executive director. Both speakers shared their thoughts on the country’s investment climate at the event, while also highlighting the importance of ensuring that investors have access to independent and up-to-date business intelligence.

AFRICAN DEVELOPMENT FUND BOARD APPROVES A LOAN OF USD 93.51 MILLION TO SUPPORT THE AGRICULTURE SECTOR IN TANZANIA

The Board of Directors of the African Development Fund (ADF) has approved a loan of UA 67.27 million (USD 93.51 million) to the United Republic of Tanzania for on-lending to the Tanzania Agricultural Development Bank (TADB). The funding will contribute to supporting Tanzania’s agriculture sector and achieving the country’s development goals.

The TADB is a national development finance institution, the mission of which is to develop the agriculture sector in Tanzania. The sector provides employment for about 67% of the population and has a very big potential for expansion given the abundance of arable land and the availability of inland water resources. However, the sector needs to be developed if Tanzania is to achieve sustainable economic development and poverty reduction. Specifically, in order for the country to achieve the Sustainable Development Goals and its Tanzania Development Vision 2025, the agriculture sector must sustainably grow at over 10% per annum. Unfortunately, over the past ten years, the sector has grown at an average of 4.4% per annum and contributed an average of 29.3% of Gross Domestic Product (GDP). These rates have recently declined to 3.2% per annum and 26% of GDP (Q2 2016), respectively.

BALOZI WA TANZANIA NCHINI MALAYSIA, MHE. DKT. DAU AWASILISHA HATI ZA UTAMBULISHO

Balozi wa Tanzania nchini Malaysia, Mhe. Dkt Ramadhani Dau akikabidhi hati zake za utambulisho kwa mfalme na mkuu wa nchi hiyo Abdul Halim Mu'adzam Shah katika kasri ya Istana Negara jijini Kuala Lumpur mapema mwezi huu.

Balozi wa Tanzania nchini Malaysia, Mhe. Dkt Ramadhani Dau akikabidhi Hati za Utambulisho kwa Mfalme na Mkuu wa Nchi hiyo, Abdul Halim Mu'adzam Shah katika kasri ya Istana Negara jijini Kuala Lumpur mapema mwezi huu.

Kikosi cha askari kikitoa saluti wakati nyimbo za Taifa za Tanzania na Malayasia zikipigwa mara baada ya Balozi wa Tanzania nchini humo Mhe. Dkt Ramadhani Dau kuwasili katika kasri ya Istana Negara jijini Kuala Lumpur kukabidhi Hati za Utambulisho kwa Mfalme na Mkuu wa nchi hiyo aliyemaliza muda wake Abdul Halim Mu'adzam Shah mapema mwezi huu.

TANZANIA, BOEING AFFIRM ORDER FOR SUPER JETLINER

Boeing Company and Tanzania have confirmed an order for one 787-8 Dreamliner aircraft valued at 224.6 million US dollars (482.89bn/-), the first ever wide-body order for the country’s national carrier.

The aircraft will be operated by the country’s flag carrier, Air Tanzania Company Limited (ATCL). According to a statement issued by Mr Keelan Morris of the Boeing Commercial Airplanes Communications, the order was previously attributed to an unidentified customer on Boeing’s Orders and Deliveries website.

The Minister for Works, Transport and Communications, Professor Makame Mbarawa, yesterday confirmed the Boeing order in a telephone interview with the ‘Daily News’. Boeing Company is an American multinational corporation that designs, manufactures and sells airplanes, rotorcraft, rockets and satellites worldwide.

FOURTEENTH REPLENISHMENT OF THE AFRICAN DEVELOPMENT FUND

Donors agree on US $ 7.06 billion to the African Development Fund (ADF); increased financing for fragile countries; and scaled up support to the private sector

• Strong donor commitment despite a difficult global economic environment
• Resources devoted to countries affected by situations of fragility to increase
• ADF to scale-up support to the private sector

A global coalition of donors pledged to support the structural transformation of African economies and the African Development Bank's High Five priorities by agreeing on US $7.06 billion over the next three years to support development projects and programs in the 38 lower income African countries supported by the African Development Fund (ADF)

"We are appreciative of the support of the donors of the African Development Fund, especially in the difficult global economic environment." said the President of the African Development Bank Group, Dr. Akinwumi Adesina. "I also appreciate the strong support of our donors for the vision, direction and ongoing reforms of the Bank Group to deliver greater developmental impacts for Africa. The African Development Fund will continue to play a significant role to build resilience for the economies of low income countries in Africa, especially those experiencing conditions of fragility or vulnerability" added Adesina.

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STANBIC BANK RE-LAUNCHES PRIVATE BANKING

December 2016, Dar es Salaam – Stanbic Bank Tanzania has relaunched their private banking services with the aim of improving the overall banking experience as well as steadily increasing number of customers within the private banking space.

The relaunch took place recently and brought together clients in the Private Banking space, Stanbic Bank Executive Committee members as well as Stanbic Bank Tanzania staff members.

Speaking during the event, Ruth Mwaiselage, Head, Private Banking, noted that the bank seeks to provide an exclusive and comfortable banking experience to its customers.

“Our clients will be getting a superior level of services and rewards through this facility. Our aim is to provide integrated financial solutions that fit well with the needs of our customers,” Ruth said.

TIGO YATANGAZA KUWASILISHA DOKEZO LA MUHTASARI KUHUSU PENDEKEZO LA AWALI LA KUUZA HISA ZAKE KWA UMMA

Mwenyekiti wa bodi ya Wakurugenzi wa kampuni ya simu za mkononi ya Tigo balozi (mstaafu) Ami Mpungwe (katikati) akishirikiana na Mkurugenzi Mtendaji wa kampuni hiyo, Diego Gutierrez wakikabidhi kabrasha lenye mapendekezo ya kuomba kuorodhesha hisa katika soko la hisa la Dar Es Salaam (DSE) kwa Afisa Mtendaji Mkuu wa soko hilo, Moremi Marwa.

Dar es Salaam – Desemba 8, 2016 – Kampuni ya Mtandao wa Simu za Mkononi ya MIC Tanzania Limited (Tigo) leo imetangaza rasmi kuwasilisha muhtasari na maombi ya awali katika Mamlaka ya Masoko ya Mitaji na Dhamana (CMSA) na Soko la Hisa Dar es Salaam (DSE) kuhusiana na mapendekezo ya awali ya kuorodhesha hisa zake katika Soko la Hisa la Dar es Salaam.

Uuzwaji wa hisa hizo unatarajiwa kuanza mara baada ya CMSA na DSE kumaliza mchakato wa mapitio kulingana na masharti yanayohusu soko la hisa.

AfDB COMMITS USD 74.9M TO REINFORCE ROAD CONNECTION BETWEEN MOZAMBIQUE AND TANZANIA

On Friday 9th December of 2016, the Board of Directors of the African Development Bank Group (AfDB) approved USD 71.8M grant and USD 3.1M loan to the Government of Mozambique for the construction of an asphalted 70km road section in Northern Mozambique, to improve connectivity with Tanzania. The project will open up that isolated part of the country, contributing to the economic growth and the eradication of poverty, as well as foster cross border trade and reinforce regional integration.

The road segment Mueda – Negomano represents a missing link on the transport corridor between Mozambique and Tanzania. The Bank will finance the paving of the road for phase I. This phase, approved today, concerns a 70km road section which starts at Negomano, located adjacent to the Ruvuma River, the natural frontier with Tanzania. The section ends in the locality of Roma. The improvement of the road will reduce from three to one hour the time to travel between the two localities. That first phase will be complemented by a second one, planned to start in 2019, which will connect Roma to Mueda and includes the construction of a one stop border post.

FOREIGN CURRENCY EXCHANGE RATES, COURTESY OF NMB

TIGO EMBARKS ON DAR ES SALAAM STOCK EXCHANGE LISTING PROCEDURES

MIC Tanzania, Tigo, has officially submitted application for Initial Public Offer (IPO) and listing on the Dar es Salaam Stock Exchange (DSE).

Tigo, the second biggest mobile phone service provider, has applied for the IPO to the Capital Markets and Securities Authority (CMSA). CMSA Principal Public Relations Officer Charles Shirima told the ‘Daily News’ in Dar es Salaam yesterday that the authority has received and is working on the telecommunication company’s draft prospectus.

“CMSA standard time to work on the prospectus is within 21 days … this, however, depends on whether the document meets the authority’s standard requirements,” Mr Shirima said.

According to the Electronic Postal and Communications Act, 2016 all the telecommunications licensees are required to offload 25 per cent of their shares to the public through the stock market. Mr Shirima, however, could not reveal the amount of the IPO, saying “the info is still classified until the prospectus is approved … but Tigo may tell you.

TIC SASA KUTANGAZA FURSA ZA UWEKEZAJI NCHINI KUPITIA TAASISI YA OXFORD BUSINESS GROUP

Waziri wa Viwanda, Biashara na Uwekezaji, Mhe: Charles Mwijage  akizungumza wakati wa mkutano huo.

Na Humphrey Shao, Globu ya Jamii

WIZARA  ya Viwanda na biashara kupitia kituo cha uwekezaji (TIC) wameingia makubaliano na wataalamu nguli wa utafiti kuanisha fursa zote zilizopo nchini.

Akizungumza wakati wa uzinduzi huo Waziri wa Viwanda Biashara na uwekezaji ,Charles Mwijage amesema kuwa wataalamu hao wataweza kutusaidia kuto ahabari za kutosha juu ya fursa zilizopo hapa nchini.

Mkurugenzi Mkazi wa Oxford Business Group, Ivana Carapic akizungumza katika hafla hiyo.

“Sijaridhika na namna tunavyojitangaza hivyo  tunapashwa kuandika habari  nyingi  juu vitu tulivyonavyo hasa hzi fursa kupita majarida makubwa duniani na vyombo mbalimbali vya habari” Amesema Mwijage.

Ameitaka tasisi hiyo kutengeneza kitu ambacho watanzania awawezi kutengeneza na kufikisha mahali ambapo wataalamu wetu awawezi kufikisha kwa uraisi lakini wao watafika na kusikilizwa.

Waziri Mwijage ametaja kuwa mara baada ya Asia kukua katika uwekezaji sehemu iliyobaki ni Afrika  na nchi yenyewe ni Tanzania ambapo kuna kila namna na mazingira ya uwekezaji kwa tasisi za nje.

Kaimu Mkurugenzi Mkuu wa Kituo cha Uwekezaji Tanzania (TIC), Clifford Tandari (kulia) akishikama mkono na Mkurugenzi Mkazi wa Oxford Business Group, Ivana Carapic mara baada ya kuaisiana makubaliano ya kiutafiti katika kuanisha fursa mbalimbali zilizopo nchini, iliyofanyika leo kwenye Ukumbi wa Mitutano wa Kituo cha Uwekezaji Tanzania (TIC), Jijini Dar es salaam.

Kwa upande wake mkurugenzi wa TIC, Clifford Tandari amemuakikishia waziri kuwa watalaam hao wana uwezo wa hali ya juu na watawaeza kutengeza kitu ambacho watalaamu wetu awawezi pia kupitia mtandao wa unaofahamika ulimwenguni wataweza kuinganisha mtandao wa TIC hili kila mtu apate kujionea vitu vilivyopo hapa nchini.

Waziri wa Viwanda, Biashara na Uwekezaji, Charles Mwijage (katikati) akizungumza jambo na Kaimu Mkurugenzi Mkuu wa Kituo cha Uwekezaji Tanzania (TIC), Clifford Tandari. Kushoto ni Mkurugenzi Mkazi wa Oxford Business Group, Ivana Carapic. 

Baadhi ya Watendaji wa Kituo cha Uwekezaji nchini wakifatilia mkutano huo.

TURKISH AIRLINES LAUNCHES DIRECT FLIGHTS BETWEEN ISTANBUL AND ZANZIBAR

Turkish Airlines is expanding its presence in Africa with direct flights launched between Istanbul and Zanzibar.

“Turkish Airlines is proud to transport people around the globe to experience new cultures, share ideas and create memories that will stay with them for a lifetime. 

We are delighted to open the new route to Zanzibar, a truly remarkable destination.

We continually seek out opportunities to expand our network and look forward to welcoming our passengers on their way to Zanzibar in the near future,” Ahmet Olmu, Chief marketing officer at Turkish Airlines said.

SAMSUNG TO OBSOLETE GALAXY NOTE 7 WITH SOFTWARE UPDATE

The update will start on December 19 to prevent batteries of Note 7 from charging and actually turn the electronic products into bricks. 

According to Samsung, 93 per cent of Note 7 owners have returned their devices in the United States because of fire catching and exploding accidents.

Seoul. Samsung decided at the weekend to render a software update to stop the remaining Galaxy Note 7 phones from working for safety concerns.

The update will start on December 19 to prevent batteries of Note 7 from charging and actually turn the electronic products into bricks.

ETIHAD AIRWAYS WINS ‘WORLD’S LEADING AIRLINE’ AWARD FOR EIGHTH CONSECUTIVE YEAR

Linda Celestino, Etihad Airways' Vice President Guest Services and Abdulrahman Al-Hadhrami, Manager Marketing Communications, accept the awards for ‘World's Leading Airline’ and ‘World's Leading Airline - First Class’ during the 23th World Travel Awards held in the Maldives.

• Airline also picks up coveted accolade for 2016 World’s Leading Airline – First Class at the World Travel Awards

Male, MALDIVES – Etihad Airways has once again collected the ‘World’s Leading Airline’ award at the 23rd annual World Travel Awards (WTA) Grand Final Gala Ceremony 2016. This marks the eighth consecutive year that the airline has received the prestigious accolade. Last night’s beachside event was held before an audience of the industry's leading luminaries and international media at the idyllic Sun Siyam Iru Fushi Beach Resort in the Maldives.

Etihad Airways also received the award for ‘World’s Leading First Class’. The airline’s First Class service and hospitality offering has consistently been voted best in the world by leading publications, research consultancies and customer satisfaction surveys. The World Travel Awards are considered the Oscars of the travel industry and hundreds of thousands of WTA voters, both from within the hospitality industry and among the public at large, cast more than 1.2 million votes during the Grand Tour 2016.

AIRLINES PANIC AS NIGERIA, GHANA RUN OUT OF AVIATION FUEL

Murtala Muhammed Airport in Lagos

Foreign airlines operating in Nigeria are panicking over current fuel shortage on the West African coast that may affect their operations especially as the Yuletide season beckons.

While Nigeria, which is the major market on the continent, is running short of supply to airlines, neighbouring Ghana that has lately become the aviation fuel hub for most airlines, is facing a similar challenge.

The Guardian yesterday learnt that the development was already a major source of concern to operations, as some airlines with Nigerian passengers have begun to make a detour in Libreville, Gabon, for fuel. Aviation sources say airlines may begin to ration flights to Nigeria during the festive season, especially when there is no guarantee of getting fuel in neighbouring countries for top-up - and this could frustrate business tourism by jacking up cost of domestic and international travels.

COAL DEBATE LINGERS DESPITE DANGOTE'S ASSURANCE TO JPM

Africa’s richest man and the owner of Mtwara-based Dangote cement factory, Mr. Aliko Dangote

According to Africa’s richest man, importing goods that are locally available amounts to importing poverty into Tanzania and exporting jobs outside the country, adding that his company is not going to be part of that.

Dar es Salaam. The owner of the Mtwara-based Dangote cement factory, Mr Aliko Dngote, says he is against his company’s decision to import coal and gypsum for use at the factory.

According to Africa’s richest man, importing goods that are locally available amounts to importing poverty into Tanzania and exporting jobs outside the country, adding that his company is not going to be part of that.

“We will utilise whatever we have locally, and already we have been assured of getting the amount of coal that we want…I also gave the President my firm commitment for further investments, and we are looking into other areas like agriculture and coal,” the Nigerian billionaire said after holding talks with President John Magufuli at State House on Saturday.

BARCODE TECHNOLOGY USE INCREASES

THE number of domestic manufacturers using the barcode technology has increased to over 1,000 companies and 15,000 products after discovering wide range of benefits.

The GS1 TZ National Limited Marketing Manager Mr Oscar Ruhasha said on ongoing industry expo at the Julius Nyerere Trade Fair Grounds along Kilwa Road yesterday that there is increased awareness over the benefits of using the barcode.

“Majority of business people particularly small and medium entrepreneurs have been acquiring the Barcode technology for their products to compete in the market,” he said.

He said also that the emphasis put by some top government leaders on the use of the barcode technology has helped increasing awareness with some small, medium and large companies moved to acquire the barcode.

SOUTH AFRICAN HIGH COMMISSION OFFICE RELOCATION

BARCLAYS AFRICA GROUP INVESTS TZS 32 BILLION INTO BARCLAYS BANK TANZANIA

Barclays Bank Tanzania Managing
Director, Mr. Abdi Mohamed.

As part of its commitment to the growth of Barclays Bank Tanzania Limited, Barclays Africa Group Ltd has invested TZS 32 billion as new capital into the Bank.

“The recapitalisation demonstrates Barclays Africa Group’s confidence in the Tanzanian market and the opportunity for growth and expansion,” Barclays Bank Tanzania Managing Director, Mr. Abdi Mohamed said.

The recapitalisation is an investment aimed at positioning the business for growth in the market.

As part of the Barclays Africa Group, Barclays Bank Tanzania has ambitious goals for 2017 and beyond, both for the business in Tanzania and as a Group. The capital is needed to grow the business even further and, in so doing, to take advantage of the many opportunities in Tanzania.

Among others, the recapitalisation will also enable Barclays Bank Tanzania to extend its Single Borrower’s Limit to support development of the corporate business and to invest in employees.

Further, it will allow the Bank to invest in improving services and offering convenience to the customers.

“Barclays Africa Group Ltd believes in the opportunity of the Tanzanian market and is demonstrating its renewed commitment through this recapitalisation of Barclays Bank Tanzania.

According to the Managing Director, the new recapitalization will have no effect on the existing products. “In fact, we are investing in technology and alternate channels to ensure that customers have ready access to our services and products. We are further investing in the development of a full Corporate and Business Banking proposition in the market.

As a business, we are fully committed to ensuring that our products pricing remain competitive on the market. As always, any revision of product pricing will be communicated in a timely and transparent manner,” he said.

FOREIGN CURRENCY EXCHANGE RATES, COURTESY OF NMB

FUEL PRICES UP AS CHEAP PETROL HONEYMOON IS OVER

Motorists should brace for more expensive fuel as the Energy and Water Utilities Regulatory Authority (EWURA) hiked retail and wholesale prices for petrol, diesel and kerosene due to soaring global prices for petroleum products.

Effective today retail prices for petrol in Dar es Salaam will be sold at 1,890/- per litre up from 1,860/- while prices for diesel will be 1,798/- per litre from 1,720/-. Kerosene prices have also gone up to 1,737/- per litre from 1,663/-, the energy regulator announced yesterday.

To a large extent, the continued increases in the local market prices have been caused by the increase of prices of petroleum products in the world market, Ewura said in a public notice. The authority said retail prices for petrol have gone up by 29/- per litre or 1.59 per cent, diesel by 78/- per litre or by 4.53 per cent and kerosene by 68/- per litre or 4.8 per cent.

PRESIDENT JOHN MAGUFULI STOPS 'MACHINGA' EVICTION

Street hawkers and petty traders, popularly known as ‘machinga’, must have sighed with relief yesterday after President John Magufuli put a stop to the ongoing operation to evict them from urban centres.

At the same time, the president has directed the Ministry of Energy and Minerals to immediately shelve the exercise to expel artisanal miners from Nyaligongo village, Mwakitolyo Ward in Shinyanga Region.

Instead, he said, the small miners should be left to continue with their activities while an investor claiming to own the area should have his/her licence revoked.

Dr Magufuli told the Deputy Minister for Regional Administration and Local Governments, Mr Selemani Jafo and his Permanent Secretary, Mr Mussa Iyombe, to implement his directive by immediately stopping the plan to evict the machinga in Mwanza and other regions until responsible authorities complete preparing alternative sites for relocating the latter through a participatory approach.

TANGA CEMENT EMERGES OVERALL WINNER OF THE BEST PRESENTED FINANCIAL STATEMENT AWARDS

National Board of Accountants and Auditors (NBAA) Executive Director, Pius Maneno (left), congratulates Tanga Cement PLC Chief Financial Officer, Pieter De Jager after his cement firm emerged the best overall winner of the National Board of Accountants and Auditors (NBAA), Best Presented Financial Statements for the year 2015, at a function held in Dar ers Salaam recently. TCPLC were also emerged first winner in manufacturing category. Second left are NBAA Board Chairman, Prof. Isaya Jairo and Ministry of Finance and Planning Commissioner of Fiscal Policy, Shogholo Msangi who was Guest of Honor.

Tanga Cement Company Limited has emerged the overall winner of the best presented financial statement for 2015 at an award gala organized by the National Board of Accountants and Auditors (NBAA) in Dar es Salaam recently.

The cement manufacturer also beat other entities such as the Tanzania Breweries Limited (TBL) which took second position and Tanzania Cigarette Company (TCC) which became third in the manufacturing category.

The Award was a reflection that the company puts quality above the rest, Tanga Cement Chief Financial Officer, Pieter de Jager said.

This creates the much-needed trust when these institutions want to conduct business with local and international investors. The award seeks to promote integrated reporting through enhancing accountability, transparency and integrity in compliance with appropriate financial reporting framework, according to the National Board of Accounts and Auditors (NBAA).

BARCLAYS BANK TANZANIA AFFIRMS YOUTHS LIVING IN FEAR OF UNEMPLOYMENT

Barclays Bank Tanzania Marketing Manager, Joe Bendera (centre) being interviewed by the media after his meeting with Univesity of Dar es Salaam (UDSM) students where he was introducing the Barclays "Ready to Work"   Education, skills training and employability program targeting university and higher learning students. A brief occasion was held at the university compounds in Dar es Salaam over the weekend.

Although a tough jobs market has left more than half of young people feeling worried about finding work, Barclays bank Tanzania sees it right to support and advise them to get on the job ladder.

A three years “ready to work program” backed by Barclays bank, will offer workshops and drop-in advice services for young people aged 15 to 35. This online initiative has been launched in eight institutions of higher learning, and will be extended to cover 3,000 graduates in other institutions across the country.

Some of the institutions of higher learning to be involved are the University of Dar es Salaam (Udsm), University of Dodoma (Udom), Institute of Accountancy Arusha (IAA), Institute of Finance Management (IFM), College of Business Education (CBE) Dar es Salaam campus, Tanzania Institute of Accountancy (TIA) and the Morogoro-based Mzumbe University.

UNIVERSITY OF DAR ES SALAAM COUNCIL RETAINS PROF. RWEKAZA MUKANDALA

Prof Rwekaza Mukandala.

University of Dar es Salaam Council yesterday announced that Prof Rwekaza Mukandala will stay on as the Vice-Chancellor for an additional year after his term expired early this month.

An official statement issued by the Council Chairman Peter Ngumbulu said the 63-year-old political scientist will continue leading the country’s oldest academic institution for 12 months effective last week.

"The University Chancellor Dr Jakaya Kikwete after consultation with President John Magufuli agreed that Prof Rwekaza Sympho Mukandala be given an extra year in office," said the statement. Prof Mukandala declined comment yesterday when this paper sought his reaction.

However, officials privy to the Vice- Chancellor said the former Research and Education for Democracy in Tanzania (REDET) Chairman was in office.

The statement which also went viral on social media Monday said Prof Mukandala will hold the office from December 5, 2016 to December 4, 2017. Born in Bukoba, Prof Mukandala took his primary education in Bukoba and secondary education at Tabora School and Musoma Secondary School.

DAR ES SALAAM THIRD MOST EXPENSIVE CITY TO LIVE IN EAC, NAIROBI LEADS

Kenya's biggest city, Nairobi, is the most expensive place to live in East Africa, according to Mercer, a global HR, company.

The 2016 City Rankings places Nairobi at position 116 on globe but is the highest rank comparing to its peers in the region. In EAC, the second on list is Kigali, Rwanda that falls on 139 on international position, then Dar es Salaam, Tanzania on 174 slot.

The last on list for EAC member states is Kampala on globe position 187. Other two members Burundi and South Sudan are not featured at all on the list of 209 cities in the world. At the tail is Windhoek, Namibia.

DAR ES SALAAM STOCK EXCHANGE ACTIVITIES SLOW DOWN AS YEAR END HOLIDAY SEASON BEGINS

The Dar es Salaam Stock Exchange (DSE) continued to experience the year end hangover after weakening by 61 percent to 198.59m/-last week compared to 512m/- posted on the preceding period.

According to the DSE weekly report, the volume of share traded increased to 262,598 compared to 101,809 of the previous week.

The weekly wrap-ups by Z an Securities shows TBL, CRDB, Swissport and DSE emerged the top trading equities that dominated the market during the week under review at 35 percent, 24 percent, 21 percent and 14 percent respectively.

None of the domestic equities appreciated or depreciated in value per share compared to last week. The total market capitalisation decreased by 2.22 percent, to close at 19.90tri/-while domestic market capitalisation remained constant at 8.15tri/-compared to last week.

PRESIDENT JOHN MAGUFULI TO OFFICIATE FIRST UHURU DAY GALA IN OFFICE

President John Magufuli.

President John Magufuli is expected to officiate at this year’s Independence Day celebrations on December 9, the first time since he assumed the presidency on November 5, 2015.

Dr Magufuli cancelled fanfares for his first Independence Day in office last year, serving the 4bn/- budget, which he directed to the expansion of a Dar es Salaam road.

The Minister of State in the Prime Minister’s Office, Policy, Parliamentary Affairs, Labour, Employment, Youth and Disabled, Ms Jenista Mhagama, said in a statement yesterday that the country will on Friday celebrate the 55th independence anniversary with pomp, colour and style at Uhuru Stadium in the city.

The minister said President Magufuli is scheduled to grace the celebrations, which will be coloured by various activities, including a military parade, choirs and traditional dances.

BANCABC LAUNCHES FESTIVE SEASON GIFT FOR CUSTOMERS

BancABC Head of Marketing and Treasury, Mr. Barton Mwasamengo (left), flanked by Head of Retail and Business Banking, Ms. Joyce Malai (right), speak to reporters during the  launch of a special festive season gift of up to 16 per cent interest upfront, on structured fixed deposit accounts in Dar es Salaam recently.

BancABC has launched a special festive season gift of up to 16 per cent interest upfront, on structured fixed deposit accounts.

Speaking in Dar es Salaam recently, the BancABC Head of Retail and Business Banking Mrs Joyce Malai said they are introducing an annual interest rate of up to 16 per cent for customers who will open fixed deposit accounts during December and will be paid upfront interest as a gift to use for all their festive needs while their principal amounts remain secure until maturity.

“This is the best offer in the market so far and we want to encourage our customers and even those who do not have accounts with us to take advantage of this festive season offer,” she said.

LONG-RANGE PLANES TO LIFT TOURISM IN TANZANIA

President John Magufuli looks at a catalogue displayed by Boeing Director of Sales, Jim Deboo at State House in Dar es Salaam yesterday.

President John Magufuli yesterday reaffirmed his willpower to acquire additional four aircrafts in efforts to introduce tourism supporting direct international flights.

Dr Magufuli, in his talks with Boeing’s Director of Sales Jim Deboo, said the government wants to buy three long-range aircrafts out of the envisaged four, adding that his administration was determined to acquire large planes from the US airplane manufacturer.

“We receive hardly two million tourists annually in Tanzania against other countries like Morocco that get over 12 million back-packers and this is mainly because we lack a vibrant national carrier to transport tourists directly from their countries.

Tanzania is among the five countries globally with attractive tourist attractions and yet tourists are forced to make flight connections through other countries before arriving here,” Dr Magufuli noted, regrettably.

FOREIGN CURRENCY EXCHANGE RATES, COURTESY OF NMB

VACANCIES - EAST AFRICAN DEVELOPMENT BANK

The East African Development Bank (EADB) is an international development finance institution that has been in existence for close to 50 years and has a diverse loan portfolio with more than 60% of its lending going to projects in health and education, finance and banking, construction and building, electricity and water, and agriculture, all of which are central to the current and future prosperity of the East African region and its people. The Bank is seeking competent, professional and experienced individuals, committed to the development of East Africa to take up the positions below.

• Senior Investment Officers – Project Appraisal
• Environmental and Social Management Specialist
• Procurement Officer
• Security Officer

Detailed job profiles and information can be accessed at www.eadb.org and www.adeptsystems.co.ke

How to Apply:

PRIVATE SECTOR TO SHAPE ECONOMIC PARTNERSHIP AGREEMENT (EPA) DEAL

Industry, Trade and Investments Minister Charles Mwijage.

The government will take the views of the private sector in deliberation of its position on the Economic Partnership Agreement (EPA) between the European Union (EU) and the East African Community (EAC), a cabinet minister has said.

Industry, Trade and Investments Minister Charles Mwijage told members of the private sector at the CEO Roundtable gala dinner in Dar es Salaam on Saturday that the government would take on board their views in reaching a position on the protracted negotiations of the trade deal with the EU.

“You will be invited when we deliberate on the government position on EPAs,” the minister told a number of heads of businesses at the 8th Annual gala dinner, which is a policy dialogue forum and a platform for captains of industry to engage with the government on the issues affecting the business environment in the country.

He said although the government did not consult them when it decided not to sign the trade deal, it had their interests at heart to make sure the local businesses were protected from any deal that may have negative impacts on them.

Leaders of the East African Community (EAC) postponed EPA with the EU when they met in Dar es Salaam in September and demanded more time to assess the impact of the agreements before the actual signing takes place.

MAJOR ENERGY FORUM BEGINS IN DAR TOMORROW

Dar es Salaam will host a stellar line up of participants active in Africa’s off grid energy space, to discuss opportunities for project partnerships at the Africa Energy Forum: Off the Grid conference which takes off tomorrow.

The conference comes to Dar es Salaam following a high interest in off grid ventures and technologies at this year’s Africa Energy Forum in London, as well as in-depth study of over 100 local community commissioners from across Kenya and Tanzania.

According to EnergyNet’s Managing Director, Simon Gosling, small scale renewable investors are already penetrating these markets in a far more dynamic and profitable way than ever before.

Involvement of companies such as Solar Turtle, PowerHive, Off- Grid Energy, Genesis Energy, M-Kopa, ShakeYourPower, Airon, Off Grid Electric and Zoetic Global is growing daily.

TANZANIA CEOs CALL FOR INCLUSIVE POLICIES AND DECISIONS

The Minister of Industry, Trade and Investment, Mr Charles Mwijage (right), answers journalists’ questions during the eighth CEO Roundtable of Tanzania (CEOrt) Annual Gala Dinner held in Dar es Salaam on Saturday. With him is CEOrt Chairman, Ali Mufuruki (left). 

In Summary

• Addressing the eighth CEOrt Annual Gala Dinner in Dar es Salaam on Saturday, the organisation’s chairman, Mr Ali Mufuruki, listed six issues of concern, including destabilisation of the financial sector in the wake of the banking sub-sector’s weak performance in recent months. 
• He said there was an urgent need for the government to convene a stakeholders’ meeting to discuss problems currently dogging the country’s financial sector. 

Dar es Salaam. The CEO Roundtable of Tanzania (CEOrt) has voiced its concern at what it says is the exclusion of the private sector from formulation and implementation of policies aimed at building an industrial economy.

Addressing the eighth CEOrt Annual Gala Dinner in Dar es Salaam on Saturday, the organisation’s chairman, Mr Ali Mufuruki, listed six issues of concern, including destabilisation of the financial sector in the wake of the banking sub-sector’s weak performance in recent months.

He said there was an urgent need for the government to convene a stakeholders’ meeting to discuss problems currently dogging the country’s financial sector.

“The government should not ignore this problem because it is the first time a major bank has declared a big loss. If destabilisation of the financial sector continues the industrialisation goal will never be attained.”

ETIHAD CELEBRATES A SUCCESSFUL YEAR IN TANZANIA

Grace Kijo, Etihad Airways Marketing Coordinator in Tanzania, hands outs chocolates to passengers as the airline celebrates its first year of operations in Tanzania.

Etihad Airways, the national airline of the United Arab Emirates, marks its first year of operations in Tanzania, as it continues to support the growing two-way flow of business and leisure travellers flying between Dar es Salaam and the UAE capital, Abu Dhabi.

Over 60,000 guests have flown with the airline on this route since it launched daily services linking both capital cities on 1 December 2015, with many passengers choosing to travel onwards over Etihad Airways’ hub to popular destinations in Europe and Asia.

The service is operated by a two-class Airbus A320 aircraft with 16 Business Class and 120 Economy Class seats. Dar es Salaam is the airline’s third departure point in East Africa, along with Nairobi in Kenya, and Entebbe in Uganda.

LOW-COST CARRIER FASTJET EXITS KENYA AFTER 11 MONTHS

Low cost carrier Fastjet has exited the Kenyan market after just 11 months of operation on low demand.

The UK budget airline will from Monday also suspend Dar es Salaam-Entebbe flights as well as between Victoria Falls in Zimbabwe and Johannesburg in South Africa for similar financial reasons.

Fastjet launched daily flights from Dar es Salaam and Kilimanjaro to the Jomo Kenyatta International Airport in Nairobi on January 11 at prices relatively lower than those offered by Kenya Airways and its associate Precision Air.

The budget carrier has faced a hard time on its Kenya routes and was soon after launch forced to end Kilimanjaro flights and reduce the Dar es Salaam ones to twice a week.

“After careful consideration of all possible options, Fastjet has regrettably made the difficult decision that a small number of route suspensions still needed to be effected,” Fastjet said in a statement.

“The specific routes to be suspended were chosen due to low passenger demand, as well as inefficient utilisation of Fastjet’s existing and planned aircraft fleet. They were not commercially viable in the present economic environments of both Tanzania and Zimbabwe.”