Tuesday, April 12, 2016

Shareholders touts Busara account

SULEIMAN SHAGATA in Shinyanga Mauritius allows companies to reap the reward of tax benefits only available to foreign investment. PHOTO | FILE
SHAREHOLDERS of CRDB Bank here have been advised to open Busara account so as to simplify mode of transactions of dividends.
CRDB Bank Manager Agribusiness Cooperative Banking Department, Mr Maregesi Shaaban said this in Shinyanga yesterday during the workshop which brought together shareholders of CRDB from the region.
He said that the bank has three ways of paying dividends namely through cheque, bank account and mobile money.
However, he stressed that use of Busara Account was more convenient and cheaper. Mr Maregesi said that Busara account is the saving account special for shareholders of the companies registered at the Dar es salaam Stock Exchange (DSE) up to end of February of this year 1,842 shareholders uses it in their transactions.
Total of about 32.600 billion dividends were paid to 29,318 shareholders in the year 2014 while customers enjoy tax incentives, whereby taxes to companies have been cut from 30 percent to 25percent for duration of three years for companies owned by 35 percent by public said Mr Maregesi to parked shareholders in workshop.
The need to invest in DSE was emphasized since it provides services in good corporate governance whereby members meet for general meetings to make decisions and get valuable information involving stakeholders.
Busara Account simplifies mode of payments of dividends to shareholders for to customers to get their money through ATM’s, agents of Fahari service or to telephone money banking through MPESA,TIGO PESA and AIRTEL Money.
The branch Manager of Cooperative and Rural Development Bank in Shinyanga Mr Said Pamui insisted to shareholders about the benefit of using Busara account saying it gives customers interest of three percent for 200,000 shillings per year.
“I appeal to you shareholders, this is the right time to use services provided by our bank which grows daily to carter services all over the country” said Mr Pamui to shareholders in the workshop.

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