VACANCY ANNOUNCEMENT - EXECUTIVE DIRECTOR, PETROLEUM BULK PROCUREMENT AGENCY (PBPA)

MOST EDUCATION LOAN DEFAULTERS STILL 'HIDING’

HESLB Executive Director, Mr Abdul-Razaq Badru.

As the Higher Education Student’s Loans Board (HESLB) finalises preparations to publish names and pictures of education loan defaulters, only 31.6 per cent have so far come out and started repayment.

The HESLB Executive Director, Mr Abdul-Razaq Badru, told the ‘Daily News’ that by yesterday, only 45,000 defaulters out of 142,470 had heeded to the instruction. Late last year, HESLB instructed the defaulters to clear their debts within 30 days or face legal action.

They owed loan’s board about 239.3bn/- After 30-day ultimatum expiry, HESLB announced that it will start publishing names and pictures of chronic defaulters who graduated in the last ten years effective this month.

A taskforce formed by loan’s board has also started visiting employers for verification on deductions, remittances and names of the institutions’ graduate employees who benefitted from the education loans.

TELECOM FIRMS WHOSE SHARES AREN'T YET LISTED AT THE DAR ES SALAAM STOCK EXCHANGE FACE PENALTY

The Tanzania Communications Regulatory Authority (TCRA) is set to penalise telecommunications companies that have not completed the process of listing their shares at the Dar es Salaam Stock Exchange (DSE).

Speaking to the press yesterday, TCRA Director General Engineer James Kilaba said among penalties that will be taken against the telecommunication companies that have not complied with requirements stipulated in the law include suspension or cancellation of their licences. Eng Kilaba said under the Electronic and Postal Communications Act (EPOCA) amended by the Finance Act of 2016 set the deadline for the firms to complete the process of listing at the DSE on 31st December last year.

“We are waiting for a list of companies from the Capital Markets and Securities Authority (CMSA) that failed to comply with the directives as required by the laws so they can be brought to task. Penalties stipulated in the law include suspension or cancellation of the licences,” he explained.

EAST AFRICAN COMMUNITY'S POSITIONING FOR 2017 AND BEYOND

It recently emerged that, in February, a sub-committee of ministers responsible for East African Community affairs agreed on a confederation model instead of a political federation as the last stage of EAC integration.

As Judy Njeru, senior assistant director for political affairs in Kenya’s state department of EAC integration said recently, a confederation is a union of political units for common action in relation to other units.

Confederations tend to be established for dealing with critical issues such as defence and security, foreign affairs, a common currency, immigration and labour movement, infrastructure, and education, science and technology development.

Njeru said measures toward this form of cooperation, including harmonisation of education systems and curricula, cooperation in health, sports, defence, peace and security, trade and customs, standards and environment, are already taking place.

“Confederation allows for the transitional stages to be used as building blocks towards the achievement of a full political federation,” she said.

“The idea of a confederation as a transitional phase toward the political federation is desirable, particularly since partner states will retain their sovereignty and only transfer some capacity in identified areas.”

MOODY'S PREACHES OIL AND GAS OVER DIVERSIFICATION FOR NIGERIA RECOVERY

Since the onset of the recession last year, the Federal Government (FG) has been proclaiming that the way out of the economic crisis remains diversification of the nation’s economy from its over-dependence on the oil and gas sector, which it said was partly responsible for the recession.

Despite all the cries for diversification of the economy, credit ratings agency, Moody’s, has affirmed that oil and gas remains Nigeria’s best hope of lifting its economy from the dredges it currently finds itself. The agency acknowledged the potency of the capital market as a reliable and captive source of liquidity and funding for the government but however, indicated that the oil and gas sector would play a significant role in getting Nigeria out of recession this year.

Giving its reasons for this assertion, it said: “Nigeria’s large hydrocarbons reserves remain a key credit support: it has an estimated 37 billion barrels of oil (about 28% of total African reserves) and nearly 34 billion of oil-equivalent in gas. Oil and gas exports tend to account for over 90 percent of goods exports and a significant share of fiscal revenue (60-70% prior to the current oil shock).

‘‘Our current oil price forecast are $45 per barrel in 2017 and $50 in 2018, compared to prices above $100 on average between 2010 and 2014”.

UMEME ACQUIRES $46 MILLION LOAN FOR EXPANSION (UGANDA)

Power distributor Umeme has approved additional borrowing of $45m (Shs165b) to further expansion around the country.

Daily Monitor understands that the loan was approved as part of an extension of the line of credit offered by International Finance Corporation (IFC), Stanbic Bank and Standard Chartered Bank. Umeme had by May 2016 utilised the entire $170m (Shs612b) loan facility from the three institutions.

In its 2015 annual report, Umeme notified shareholders that it would have to raise additional funding over the next five years. Daily Monitor understands that at least $25m (Shs90b) was immediately extended to Umeme from Standard Chartered Bank and Stanbic Bank.

On December 9, IFC also approved lending a balance of about $20m (Shs72b) in addition to what the two Ugandan commercial banks had provided. The money from the IFC is now pending disbursement.

“The additional financing will be used to support the company’s capital investment programme, including expansion and reinforcement of the distribution network, the rollout of pre-payment metering, reduction of commercial and technical losses and increasing customer grid connections,” reads a note seen by Daily Monitor.

KENYA AIRWAYS AMONG FIRMS EYEING AIR MADAGASCAR STAKE

National carrier Kenya Airways has been shortlisted among seven airlines interested in acquiring a minority stake in Air Madagascar, which is looking for a strategic partner to help turn around its fortunes.

The management of the cash-strapped Air Madagascar recently disclosed that Kenya Airways, Air Austral, Ethiopian Airlines, Air Mauritius and South African Airlink are some of the carriers gunning for a stake of up to 49 per cent.

The government of Madagascar, with financing from the World Bank, is seeking a strategic investor “willing to invest in the company by taking minority equity shares and by bringing know-how to the airline as well as committing to run it.”

Kenya Airways’ interest in owning a piece of the Madagascar national carrier, and helping to revive it, comes at a time when it is itself in desperate need of about Sh60 billion to recapitalise the loss-making business.

EARNINGS FROM RWANDA MINERAL SECTOR GROW BY 40%

Earnings for Rwanda’s mineral sector are looking up after prices for Rwanda’s second most important mineral export by revenues, tin, shot up by 40 per cent on the London Metal Exchange.

Prices for tin rose from $13,000 per tonne at the end of October to $21,000 per tonne in November, a trend that has held through the first two weeks of December, raising hopes for an industry that has endured a steady decline in revenues for the past three years in a row.

Prices for tin had fallen by 38 per cent over the past three years, while prices for coltan and wolfram had fallen by 25 per cent and 22 per cent respectively bringing down $226 million in 2013 to $149 million last year.

This year, Rwanda expects $152 million from mineral revenues, representing a slight increase from $149 million collected in 2015, according to projections from the ministry of natural resources.

The increase is partly attributed to the exportation of new minerals like iron ore, gold and gemstones, which have supplemented the country’s principal minerals of tin, coltan and wolfram — whose prices have been in decline for a while now.

“Price fluctuation is a real big problem, and that is why we are now looking at value addition. We are in the process of acquiring a certificate for smelting conflict-free minerals at our Karuruma smelter. This will enable us to increase production of processed minerals which fetch more on the international market,” minister of natural resources, Vincent Biruta, said Wednesday.

TANZANIA AND BURUNDI RISK LOSING EUROPEAN UNION AID OVER EPAs

Tanzania and Burundi risk losing development aid from the European Union for refusing to append their signatures to the trade agreement between the region and the European economic bloc.

Dar es Salaam and Bujumbura have declined to sign the Economic Partnership Agreement of the EAC with the EU. Being a single Customs territory, all EAC members need to sign the pact before it is enforced.

However, Tanzania argues that signing the trade deal in its current form will have negative implications for its industrialisation strategy.

Speaking during the 32nd Conference of African Caribbean and Pacific Group of States (ACP) and the European Union (EU) in Nairobi, Patrick Gomes, the secretary-general of ACP, said that aid to the countries must be tied to trade agreements for the mutual benefit of both economic blocs.

“We need to understand that EPAs come not only with trade opportunities with Europe, but development aid as well. As it is, Tanzania, Uganda and Burundi, which have been dragging their feet in signing the trade pact, could end up losing important development aid from the EU,” Mr Gomes said.

The ACP is composed of 79 African, Caribbean and Pacific states that are signatories to the Cotonou Agreement, which binds them to the EU.

UGANDA'S ECONOMY AFFECTED BY ELECTIONS, DOWNTURN IN BANKING

Drought, the war in South Sudan and an election at the beginning of the year impacted Uganda’s economy, sending shockwaves through the real estate market, the stock exchange and trade.

The biggest upset was in the banking sector, where the country’s third largest bank, Crane Bank, was put under receivership.

Executives now wait to see how the Bank of Uganda (BoU) handles the troubled Crane Bank as the decision is likely to shape the regulator’s stance towards failing banks in the future.

Fears of runaway inflation anticipated in the aftermath of the February general election prompted BoU to pursue tight policy actions in an effort to preempt a repeat of gloomy economic indicators experienced during the post-election period in 2011.

EAST AFRICA FASTEST GROWING REGION, SAYS UK LOBBY

East Africa is the fastest growing region on the continent and its development prospects remain positive, a UK-based accountant’s body says.

The Institute of Chartered Accountants in England and Wales (ICAEW) say in its latest report that the more diversified East African economies are faring better than those of southern, central and western Africa.

“Growth prospects remain divergent by region, with Central and West African economies struggling with weak commodity demand,” the Economic Insight: Africa Q4 2016 report says.

The report produced in partnership with Oxford Economics provides a snapshot of the continent’s economic performance. ICAEW notes that the Central Bank of Kenya has been able to ease monetary policy in recent months through legal changes that could help fuel further economic growth.

It says Kenya’s growth outlook has improved in recent months, with the tourism sector recovering from the effects of previous terror attacks and travel advisory warnings.

2016 IN REVIEW: A NEW CHAPTER OPENS AT THE AFRICAN DEVELOPMENT BANK

At the African Development Bank, 2016 was a transformative year. It was a year of operational accomplishment and institutional renewal.

At the institutional level, the Bank made significant progress in moving its transformation agenda forward. The year started with the launch of the New Deal on Energy for Africa, and a Transformative Partnership on Energy at the World Economic Forum in Davos. The Board discussed and approved four of the High 5 strategies. The Board also approved the New Development and Business Delivery Model (DBDM) and an updated decentralization action plan. 

With these approvals, the Bank is now ready to fully roll out its new Development and Business Delivery Model (DBDM) to achieve greater developmental impacts. The DBDM will move the Bank closer to its clients and streamline the business processes as well as improve institutional effectiveness and financial performance. In addition, the approval of a competitive salary structure for both internationally and locally recruited staff and the establishment of performance contracts and completion of the recruitment of the new senior management team were among the key milestones.

VISA EXEMPTION FOR TANZANIAN DIPLOMATIC AND OFFICIAL / SERVICE PASSPORT HOLDERS

The United Republic of Tanzania and the Republic of India have started to implement the agreement signed by the two Governments on 10 July, 2016 on visa exemption for each other’s diplomats and official/service passport holders.

The agreement became effective on 26 December 2016.

The agreement states that, holders of diplomatic and official/service passports of the two countries do not require visa to travel to the other country from 26 December 2016, except when employed in each other’s country.

Issued by: 

Government Communication Unit,
Ministry of Foreign Affairs and East African Cooperation,
Dar es Salaam.

2nd January, 2017

RAIS DKT. JOHN POMBE MAGUFULI ATEMBELEA MAENEO YALIOATHIRIKA NA TETEMEKO NA KUWEKA JIWE LA MSINGI UJENZI WA SHULE YA SEKONDARI IHUNGO MKOANI KAGERA JANUARI 02, 2017

Rais wa Jamhuri ya Muungano wa Tanzania Dkt. John Pombe Magufuli akiwa pamoja na balozi wa Uingereza hapa nchini Sarah Cooke (kushoto) wakiweka jiwe la msingi katika ujenzi wa Shule ya Sekondari ya Wavulana Ihungo mkoani Kagera. Shule hiyo inajengwa upya kufatia kuathirika na tetemeko la Ardhi lililotokea mkoani humo.

Rais wa Jamhuri ya Muungano wa Tanzania Dkt. John Pombe Magufuli akitazama wakati Balozi wa Uingereza hapa nchini Sarah Cooke alipokuwa akibonyeza kitufe kuashiria uzinduzi wa mradi wa ujenzi wa Shule ya Sekondari ya Wavulana Ihungo mkoani Kagera. Wakwanza kushoto ni Waziri wa Elimu Profesa Joyce Ndalichako.

Rais wa Jamhuri ya Muungano wa Tanzania Dkt. John Pombe Magufuli akiwa na Balozi wa uingereza hapa nchi Sarah Cooke wakikagua ujenzi wa majengo ya Shule ya Sekondari ya Wavulana Ihungo mkoani Kagera.

Mtendaji Mkuu wa Wakala wa Majengo nchini (TBA) Elius Mwakalinga akitoa maelezo ya mradi huo kwa Rais wa Jamhuri ya Muungano wa Tanzania Dkt. John Pombe Magufuli wakati wa ukaguzi.

Mtendaji Mkuu wa Wakala wa Majengo nchini Elius Mwakalinga akitoa maelezo ya mradi huo kwa Rais wa Jamhuri ya Muungano wa Tanzania Dkt. John Pombe Magufuli wakati wa ukaguzi.

AZANIA BANK LTD VACANCY ANNOUNCEMENT

EWURA INCUR PRESIDENT MAGUFULI'S WRATH, AS TANESCO MD ENGINEER MRAMBA SHOWN EXIT DOOR

Former TANESCO’s Managing Director, Engineer Felchesmi Mramba.

President John Magufuli has blasted officials of the Energy and Water Utilities Regulatory Authority (EWURA) for arbitrarily raising electricity tariff by an average of 8.5 per cent.

He has at the same time also revoked the appointment of TANESCO’s Managing Director, Engineer Felchesmi Mramba, and appointed Dr Tito Mwinuka, former lecturer at the University of Dar es Salaam, as TANESCO’s Acting MD with immediate effect.

Dr Magufuli’s reaction comes a day after the Minister for Energy and Minerals, Professor Sospeter Muhongo, wrote a letter (dated December 31, 2016) directing the EWURA Director General to stop implementation of the new tariffs (planned to start yesterday) until when the government has thoroughly scrutinised the formal report it would receive from the regulator.

Speaking yesterday during a Holy Mass at the Mater Misericordiae Cathedral in Bukoba Municipality, President Magufuli assured Tanzanians that the new tariffs would not come into effect despite EWURA’s announcement.

STANBIC BANK ACHIEVER TRANSACTIONAL ACCOUNT - ONE ACCOUNT, COUNTLESS SERVICES

FIRST COMMERCIAL FLAMMABILITY TEST LAB LAUNCHED IN THE MIDDLE EAST

At the launch of the Lantal Flammability Test Lab at Etihad Airways Engineering in Abu Dhabi, are: (left to right) Peter Baumgartner, Chief Executive Officer, Etihad Airways; Dr. Urs Rickenbacher, Chief Executive Officer, Lantal; Bernhard Randerath, Vice President, Design, Engineering and Innovation, Etihad Airways Engineering; Heiko Nüssel, Partner, Executive Vice President, Compliance and Certification, Lantal; Shevantha Weerasekera, Head of Engineering, Etihad Airways Engineering; Jeff Wilkinson, Chief Executive Officer, Etihad Airways Engineering; Jürg Metz, Swiss Consul. 

Etihad Airways Engineering and Lantal Textiles AG have launched the first Flammability Test Laboratory in the Middle East, for regional customers within the aviation industry, including VIP operators, MRO organisations, design and production organisations as well as cabin interior suppliers.

Located inside the Etihad Airways Engineering facility adjacent to Abu Dhabi International Airport, the new Lantal laboratory will provide test services that include flammability tests, seat cushion tests, heat release and smoke tests.

EADB HEAD UNDER PROBE OVER MISMANAGEMENT CLAIMS

Kampala - The East African Development Bank (EADB) board is investigating the institution’s chief executive, Ms Viviene Yeda Apopo, over alleged mismanagement following demands by some employees that her services be “terminated immediately”.

Ms Apopo, a Master’s degree holder in Business Administration, has led the regional bank for seven years, having been appointed as the director general in 2009.

The whistleblowers note in the dossier to the board that whereas Ms Apopo has done a good job in recovering loans, her repeated failure and, in some cases, excessive delay in approving viable projects recommended by senior management, have hindered the bank from investing in lucrative ventures.

“We, a group of staff at EADB, write to express our concern over the manner in which the bank is being run under the leadership of Ms Viviene Yeda. We bring to the attention of the concerned parties requesting that her services as director general at EADB be terminated immediately...,” the petition also copied to Kenya’s Treasury secretray, Mr Kamau Thugge, reads in part.

BANK OF TANZANIA COUNTERS RUMOURS ON 500/- NOTES

The Central Bank has dismissed as false reports circulating in some social media outlets that 500/- notes will no longer be used after 31st of December of this year.

The Central Bank Director of Banking, Marcian Kobello, said in a statement yesterday that the 500/-bill would continue to be used next year until it disappears in the circulation.

"Reports that the 500/- notes will no longer be used after 31st of December are false and should be dismissed," the statement reads in part adding the bank notes would remain as legal tender before it is gradually withdrawn in the circulation.

"The truth is the 500/- bill will continue in circulation alongside the 500/- coin until it disappears.

INDIA'S MODI EYES REAL ESTATE ASSETS IN DRIVE AGAINST GRAFT

India's Prime Minister Narendra Modi.

Indian Prime Minister Narendra Modi has quietly plugged a tax loophole used by the wealthy to buy real estate in someone else’s name as part of his campaign against corruption, a senior tax official said on Monday.

While the focus of his administration was managing the fallout of a shock move last month to scrap old 500 and 1,000 rupee notes, the official told Reuters that the department expected to step up scrutiny of real estate assets with suspicious titles.

Tax officials expected to use returns for the current year that are filed in July as well as other means such as raids and data from bank transactions to gather information about suspicious real estate assets, the official said.

"This is our priority for next year," said the official, requesting anonymity as unauthorized to speak to the media.

SUMATRA IRONS OUT TICTS-IMPORTERS ROW

The Surface and Marine Transport Authority (SUMATRA) has intervened and managed to settle a row at the Dar es Salaam Port between importers and Tanzania International Container Terminal Services (TICTS) over new charges.

The fresh dispute between the two parts emerged after the TICTS introduced charges on containers destined for scanning at the port.

TICTS has reportedly imposed a fee of $156 (Sh340, 000) for every 40ft container and $103 (Sh225, 000) for a 20ft container for all transit cargo destined to landlocked countries in the region.

The move brought confusion among the port stakeholders, with Tanzania Freight Forwarders Association (TAFFA) arguing that the decision would deter current efforts in attracting more customers to use the port.

SEASONS GREETINGS & HAPPY NEW YEAR!

NATIONAL CARRIER LEASES AIRCRAFT TO FLY ABROAD

REVIVED Air Tanzania Company Limited got a big boost after an Indian community leased one of its new aircraft to take a team to Kisumu, Kenya for sport and cultural event.

Lohana Mahajan Community have opted to use the national airline to fly its team to Kisumu for 34th Lohana Sports and Cultural Festival (LSCF). “I feel very proud to use our national career.

To support the president’s efforts in reviving ATCL we decided this year to use them to fly to Kisumu for Lohana games. We would like other national sport clubs and communities to use ATCL when flying for international games,” Lohana Mahajan Community President, Mr Navin Kanabar said at a press conference in Dar es Salaam today.

He called upon athletes and entertainers to use Air Tanzania Company Limited (ATCL) for their domestic and international trips to support government's efforts to revive the national career. Mr Kanabar together with the team of over 45 players are expected to leave the country for the games tomorrow.

COCA-COLA BUYS AB INBEV OUT OF AFRICA UNIT FOR $3.2 BILLION

Coca-Cola Co. will pay $3.15 billion to buy Anheuser-Busch InBev NV out of an African bottling joint venture after the Budweiser brewer’s takeover of the U.S. beverage company’s partner in the region.

Wednesday’s announcement comes just over two months after the companies said they were in negotiations following AB InBev’s completion of the takeover of SABMiller. Coca-Cola also agreed to buy AB InBev’s interest in bottling operations in Zambia, Zimbabwe, Botswana, Swaziland, Lesotho, El Salvador and Honduras for an undisclosed sum.

For Coca-Cola, the acquisition of AB InBev’s 54.5 percent stake in the venture provides a firm footing in a region that is probably one of the last where it can grow its core soft drinks products, said Sasha Naryshkine, an analyst at Johannesburg-based money manager Vestact Ltd. The transaction continues AB InBev’s asset pruning following its purchase of SABMiller, coming only days after the brewer agreed to sell its central and eastern European assets to Asahi Group Holdings Ltd.

“Considering the speed that this deal was done I would expect AB InBev to continue selling non-core assets quickly,” Naryshkine said. “It’s a good price for Coca-Cola.”

VOLKSWAGEN TO SET UP PLANT IN RWANDA

A Volkswagen Tiguan, one of the VW series in a manufacturing plant. The German carmaker will soon set up an assembly plant in Rwanda.

German carmaker Volkswagen (VW) and the Government of Rwanda are set to sign an agreement today that will see the former set up an assembly plant in Rwanda to start making environment-friendly cars, The New Times has learnt.

Information from the Rwanda Development Board (RDB) indicates that the board’s Chief Executive Officer, Francis Gatare, and the Chief Executive Officer of Volkswagen South Africa, Thomas Schaefer, will sign a memorandum of Understanding (MOU) in Kigali today in the presence of Dr Herbert Diess who is the CEO of the Volkswagen brand.

The agreement will enable Volkswagen South Africa to start assembling in Rwanda cars that are easy to maintain and that are low on fuel consumption and gas emission.

DAR, LILONGWE SIGN 180MW JOINT POWER DEAL

Tanzania and Malawi are expecting to implement a joint 180-megawatt electricity project that will enable each country to produce 90mw.

The two countries also expect to implement another joint project on irrigation where a total of 600 hectares will be developed, with 3000 farms in each country.

The implementation of the projects follow agreement over development for Songwe River Basin (SRBDP), signed by the Minister for Water and Irrigation, Engineer Gerson Lwenge and Malawian Minister for Agriculture, Irrigation and Water Development, Dr George Chaponda.

They signed the agreement in Mbeya during a special ministerial meeting by the two countries whereby some of the projects to be implemented will include dam construction, tree planting and irrigation schemes.

Speaking after the signing of the agreement, Eng. Lwenge pointed out that the project is expected to cost the two countries more than 500 million US dollars. He went on to say that the project will benefit seven districts in the two countries whereby for Tanzanian side the five districts are Kyela, Ileje, Mbeya, Momba and Mbozi.

TANZANIA, UAE SIGN TOURISM PACT

The governments of Tanzania and the United Arabs Emirates (UAE) have signed a bilateral Air Service Agreements (BASA) and a memorandum of understanding (MoU) for co-operation in tourism.

The two governments also agreed to conclude negations and sign agreements on promotion and protection of investments and avoidance of double taxation on income.

The event took place in Abu Dhabi during the first Tanzania and UAE joint commission meeting between Foreign Affairs and East African Cooperation Minister, Dr Augustine Mahiga and UAE Minister of State for International Cooperation, Ms Reem Ebrahim Al Hashimy.

GOVERNMENT BAN ON EXPORT OF LIVE ANIMALS REMAINS INTACT

The ban on the exports of live animals remains intact unless all procedures are strictly observed, the government said yesterday.

The Natural Resources and Tourism Minister, Professor Jumanne Maghembe, told traders dealing with transportation of live animals that the three-year ban was a legitimate government decision, which is not likely to change soon.

“This ban (on the live animal exports) is the government decision ... it is not Maghembe’s, I am only a gramophone,” he charged, saying the ban will remain in force for three years, starting March, 2016, when it was announced.

He called for calmness as the government finalises procedures that will guide the issuance of business permits, subject to critical review under smooth guidance on the business in the country.

ETIHAD AIRWAYS AND TANZANIA’S PRECISON AIR UNVEIL CODESHARE AGREEMENT

In a move that extends its reach across East Africa, Etihad Airways, the national airline of the United Arab Emirates, today announced that it has entered into a codeshare agreement with Precision Air, Tanzania’s leading domestic airline.

Under the new codeshare agreement, Etihad Airways will place its EY code on Precision Air flights between Dar es Salaam and Kilimanjaro, Mwanza, Mtwara, Nairobi, Zanzibar, Pemba, and between Nairobi and Kilimanjaro and Zanzibar.

Precision Air will place its PW code on Etihad’s daily services between Dar es Salaam and Abu Dhabi, strengthening ties between East Africa and the United Arab Emirates.

Kevin Knight, Etihad Airways’ Chief Strategy & Planning Officer, said: “Precision Air is an innovative and award-winning airline and this new codeshare agreement demonstrates Etihad Airways’ growing ambitions to strengthen its operations across the East African region.

MIMOSA CONCIERGE PREPAID VISA DEBIT CARD

Greetings from Mimosa Concierge,

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The Mimosa Concierge Prepaid Visa Card is available for purchase at Various Outlets and through our sales representatives. Our Prepaid Visa Card is yours for only Tsh 240,000 equivalent to 7,000/= Tsh a Month for 3 Years inclusive of membership to the Mimosa Concierge Service where you will benefit from discounts from our discount partners nationwide.

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COMPANY LAUNCHES NEW FIRE SUPPRESSION SYSTEM IN DAR ES SALAAM

The Deputy Permanent Secretary in the Ministry of Home Affairs, Ambassador Hassan Simba Yahaya (left) attentively listens to JUNACO Group of Companies official Mr George Michael who was explaining about the firm’s new product, FirePro Aerosol Fire Suppression System, in the quest to find the alternative solution for fire suppression during the product’s launch ceremony held in Dar es Salaam over the weekend. Others include company’s Chairman and Chief Executive Officer (CEO), Mr Justine Lambert (second left).

JUNACO Group of Companies has launched its new product, FirePro Aerosol Fire Suppression System, in the quest to find the alternative solution for fire suppression.

According to the company’s Chairman and Chief Executive Officer (CEO), Mr Justine Lambert, the new product is yet another milestone in finding the solution for fire suppression that has become a social and economic menace in the recent times.

The official launching was graced by the Deputy Permanent Secretary in the ministry of Home Affairs, Ambassador Hassan Simba Yahaya on behalf of the Minister for Home Affairs Mr Mwigulu Nchemba.

A TANZANIAN, JENNIFER SHIGOLI WINS 2016 AFRICAN ENTREPRENEURSHIP AWARD IN CASABLANCA, MOROCCO

BMCE Bank of Africa has announced the winners of the second edition of the African Entrepreneurship Award, which allocates $1-million each year.

A Tanzanian, Jennifer Shigoli, was among 11 winners of the second edition of 2016 African Entrepreneurship Award in Casablanca, Morocco.The award ceremony, chaired by President Othman Benjelloun, was held on 5 December 2016 to compensate the most significant and sustainable businesses in the award’s three categories: education, environment and uncharted.

Among the 37 finalists who participated to the Boot Camp held in Casablanca from 30 November to 3 December 2016, 11 winners were selected by a presidential jury.

The winners are as follows:

First place – $150 000

• Environment: Mahmud Johnson – Liberia – “Oil Palm products”
• Education: Jennifer Shigoli – Tanzania – “Reusable Sanitary Pads

Second place – $100 000

• Environment: Ernie Aylward – South Africa “Electric mini-cabs”
• Education: AbideenAdelu – Nigeria – “Mobile application for students”
• Uncharted: Joyce Kyalema – Uganda – “Pumpkin food”

Pioneer Awards – $50 000

• Frederico Peres da Silva – Mozambique – “Connect blue-collar, informal workers to customers”
• Achiri Nji – Cameroon – “Live status updates on road conditions”
• Benti Gelalcha – Ethiopia – “Veterinary Ambulatory Clinical Services”
• Murtula Sanni – Nigeria – “Online platform for skilled workers”
• Omar Kadiri – Morocco – “Free phone credit”.

KENYA, BRAZIL NOD TO ATCL REVIVAL

BRAZIL and Kenya yesterday hailed efforts by the government to revive the cash-strapped Air Tanzania Company Limited (ATCL), describing the move as a major step towards boosting the country’s economy.

The Ambassadors of Brazil and Kenya to Tanzania, Mr Carlos Alfonso Puente and Chirau Ali Makwere, respectively, lauded the purchase of new planes for the airline to improve the company’s service delivery to domestic and international air travellers.

The praises come as the government embarks on a number of plans to purchase more aircraft for the national flag carrier. President John Magufuli announced recently that he intends to purchase three more aircraft, bringing to five the total number of new planes from Canadian manufacturer, Bombardier.

YOU GOT IT WRONG, INSURER TOLD

The Commissioner of Insurance, Mr. Israel Kamuzora

In Summary
Alliance Life Assurance Tanzania chief executive officer Byford Mutimusakwa was recently quoted by Tanzania Invest.com — an online weekly newsletter — as saying it was much easier selling life insurance to companies than to individuals

Dar es Salaam. A suggestion for employers to to provide life insurance in Tanzania has been turned down.

Alliance Life Assurance Tanzania chief executive officer Byford Mutimusakwa was recently quoted by TanzaniaInvest.com — an online weekly newsletter — as saying it was much easier selling life insurance to companies than to individuals.

Mr Mutimusakwa suggested that the regulator introduce regulations that oblige employers to provide life insurance.

BOMBARDIER WINS ORDERS FOR TWO CS300 AND ONE Q400 AIRCRAFT FROM TANZANIA

December 2, 2016

MontréalCommercial Aircraft, Press Release

Bombardier Commercial Aircraft announced today that the United Republic of Tanzania represented by the Tanzanian Government Flight Agency (TGFA) has signed firm purchase agreements for two CS300 jetliners and one Q400 turboprop aircraft. The aircraft will be leased to and operated by Air Tanzania (The Wings of the Kilimanjaro) based in Dar es Salaam.

Based on the list prices of the CS300 and Q400 aircraft, the combined value of the purchase agreements is approximately $200 million US.

Like the two Q400 turboprop aircraft delivered to the TGFA for lease and operation by Air Tanzania in September 2016, the third announced today will have an all-economy, 76-seat interior with two lavatories. The two CS300 airliners will be configured in a dual-class layout, and will be equipped with WiFi internet and in-flight entertainment.

SIMBAPAY LAUNCHES MOBILE MONEY TRANSFER SERVICE TO GHANA AND UGANDA

Techstars alumni, SimbaPay announces the addition of Ghana and Uganda as remittance destinations on its international digital money transfer platform

LONDON, United Kingdom, December 5, 2016/ -- SimbaPay (www.SimbaPay.com) – a London based digital money transfer provider – today announced the launch of its money transfer service to Ghana and Uganda. Using the SimbaPay app or website, Ghanaians and Ugandans living in Europe can now send money to mobile phones in Ghana or Uganda instantly. “This is the perfect Christmas gift to Ghanaians and Ugandans living in Europe who have been asking when SimbaPay will expand coverage to their home countries” said Nyasinga Onyancha, CEO for SimbaPay. “By delivering money via existing mobile money wallet services, many recipients who previously could not access formal financial services can now do so”. Ghanaians and Ugandans living in Europe (UK & European Union countries) with a bank account, debit card or credit card will be able to use the SimbaPay app from any mobile phone, tablet or computer. Transfers made using SimbaPay are credited within seconds to recipients’ mobile money wallets such as MTN Mobile Money. This eliminates the inconvenience of queues and old school paperwork.

NATIONAL MICROFINANCE BANK CONTINUES TO REWARD ITS CUSTOMERS FOR EACH SAVINGS MADE

National Microfinance Bank Plc ‘NMB’ has enhanced their Bonus Account with an attractive interest rate of up to 13%. The offer is available to all NMB Bonus Account and NMB Business Savings Account holders who will only withdraw funds on either account once on a quarterly basis. The new interest rate has been improved to support and encourage the achievement of personal and business goals.

The new and attractive interest rate of up to 13% which is paid on a quarterly basis means that customers will be able to enjoy a bonus interest over and above the standard basic interest. This is considered to be a competitive rate on the business savings account in the banking sector. All existing and new customers of this product can now reap the benefit.

AfDB APPROVES USD 50 MILLION EQUITY INVESTMENT AND USD 50 MILLION CONVERTIBLE LOAN TO SEED THE ESTABLISHMENT OF THE MULTI-INVESTOR USD 500 MILLION FACILITY FOR ENERGY INCLUSION (FEI)

The Board of Directors of the African Development Bank (AfDB) has approved a financing package of USD 100 million, comprising USD 50 million equity and USD 50 million convertible senior loan, to seed the Facility for Energy Inclusion (FEI), a pan-African renewable energy debt fund. The investment, which is expected to catalyze energy access for an estimated 3 million people, is rooted on the Bank’s New Deal on Energy for Africa and increasing global recognition on the importance of energy access in Africa.

FEI will focus on providing senior and mezzanine debt to off-grid, mini-grid and small scale Independent Power Producers (IPP), i.e. projects with total costs under USD 30 million. The Fund will provide hard and local currency financing.

The Bank’s approval opens the door to a formal fundraising process, which seeks to raise up to USD 400 million in additional investment from like-minded DFIs, impact investors and commercial banks. In preparation for this, the AfDB has held informal discussions with potential investors from the UK, US, Germany, Japan, and South Africa. A first closing is expected by mid-2017.

AfDB BOARD OF DIRECTORS APPROVES THE INSTITUTION'S BORROWING PROGRAM FOR 2017

The Board of Directors of the African Development Bank has approved the institution’s borrowing program for 2017, for an amount of UA 6.9 billion (equivalent to USD 9.4 billion) to be raised from capital markets. One of the main objectives of the program is to raise resources from capital markets, in a cost effective manner, to finance development projects and programs in Africa. The Bank’s funding requirements have been increasing in line with its operations and footprint on the continent. Three years ago, its annual borrowing program was USD 4.4 billion.

The AfDB has accessed a wide array of capital markets across the globe, with the bulk of its issuance in US dollars, Euro, Australian dollars and South African rand. It has also been growing its socially responsible investment programs, including green bonds and bonds around the five high priorities areas of the institution: A ‘feed Africa’ ‘Improve the quality of the life for the people of Africa’ bonds were issued in 2016 in addition to green bonds.