Friday, August 4, 2023

FINANCIAL INCLUSION: VP issues new directives

 HENRY LYIMO

HENRY LYIMO

TANZANIA, Dar es Salaam: VICE-PRESIDENT, Dr Phillip Mpango has called for

NHC to list bond on DSE as profit surges

TANZANIA, Dar es Salaam: THE National Housing Corporation (NHC) will for the first time in history list its bond on the stock market, with the company disclosing that it has

PM tips youth on agri opportunities

PRIME Minister Kassim Majaliwa has encouraged Tanzanians particularly young people to

Four people die in Chalinze road crash

COAST, Chalinze: FOUR PEOPLE have died in an accident which occurred on Thursday during the wee hours at Mapatano Village, Mbwewe Ward in Chalinze Council, Bagamoyo District,   Coast Region.

Revealed: Top 10 investors at Dar es Salaam Stock Exchange

 

Summary

·         These ten individuals as of Friday last week had a collective Sh208.2 billion investment at the bourse, equivalent to 1.37 percent of the Sh15.12 trillion total market capitalization.

Geita Gold to save $19m annually after national grid connection

 

Vice president of AngloGold Ashanti-GGML responsible for sustainable projects in Ghana and Tanzania Simon Shayo (left) speaks during a forum to discuss energy issues on Monday. Others include chairperson of Tanzania Renewable Energy Association (Tarea), Mr Prosper Magali (center) and founder and managing director of Lindam Group Limited, Ms Zuhura Muro. PHOTO | CITIZEN CORRESPONDENT

Summary

·         Tanesco is implementing a power project which will ultimately connect the company with the electricity from the national grid

Reforms working as Tanesco nets Sh2.3 trillion income

 

Summary

·         With the rise in income, Tanesco’s net profit, which rose from Sh45.246 billion in 2019/20 to Sh77.144 billion in the 2020/21 financial year, jumped to a record Sh109.454 billion during the 2021/22 financial year.

Reasons behind rise in UTT-AMIS asset value

 

UTT-AMIS’ managing director, Simon Migangala. PHOTO | COURTESY

Summary

·         The level of assets managed by the trust has improved from Sh290 billion recorded in 2019 to a staggering Sh1.535 trillion by the end of June 30, 2023

CRDB Bank’s half-year profit rises

 

CRDB Bank Plc managing director Abdulmajid Nsekela. PHOTO | COURTESY

Summary

·         The bank has attributed the minimal rise in profits to substantial investments in its DRC office and CRDB Insurance.

CRDB scoops four Africa awards in Lagos

 



Tanzania’s High Commissioner to Nigeria Dr Benson Bana (centre) receives an award for the best CEO supporting procurement on behalf of CRBD Bank’s Group managing director and CEO Mr Abdulmajid Nsekela from the CEO of Instictwave, Mr Akin Naphtal at the Africa Procurement and Supply Chain Awards (APSCA) held in Lagos, Nigeria. With him is the bank’s director of procurement, Mr Pendason Philemon (right). PHOTO | THE CITIZEN CORRESPONDENT

Summary

·         Tanzania’s High Commissioner to Nigeria, Dr Benson Bana said it was enthralling to see the bank scooping a number of international awards.

BoA introduces agency banking in new service expansion drive

 

The Bank of Africa – Tanzania managing director Adam Mihayo (right) cuts a ribbon during the launch of the bank’s agent banking services in Dar es Salaam yesterday. With him is the bank’s senior head of marketing and communication Nandi Mwiyombella (left), head of digital services Jesse Jackson (second left). PHOTO | THE CITIZEN CORRESPONDENT


Dar es Salaam. The Bank of Africa-Tanzania has introduced agency banking services aiming to improve proximity to customers and increase

CARTOONS

 


Kendwa Beach, Zanzibar ranked 4th best in the world, top in Africa

 







Dar es Salaam. It is a shoulder season for the tourism industry in Zanzibar and there is plenty of good news.

African leaders call for unlocking of Russian grain exports

 

Johannesburg. African leaders involved in peace talks over Ukraine have called for the unlocking of Russian grain and fertiliser exports to revive a

Govt relocation to Dodoma negatively affected NHC, says DG

 

One of NHC's projects at Kawe Beach, Dar es Salaam that stalled for Seven years.

Dar es Salaam. National Housing Corporation NHC director general Hamad Abdallah has said that the decision to

PBZ Bank awarded first place at the 47th Dar es Salaam International Trade Fair

 

President of Zanzibar and Chairman of the Revolutionary Council Dr Hussein Ali Mwinyi hands over an award for the first victory in the service of banking to the Managing Director of PBZ Bank, Dr Muhsin Salim Masoud, during the closing ceremony of the 47th Sabasaba Trade Fair held in Dar es Salaam recently.


The People’s Bank of Zanzibar Limited (PBZ Bank), established on 30 June, 1966, is the oldest local bank in Tanzania with 57 years of operations.

Stanbic Bank wins Best Investment Bank Award

 

Elibariki Ndossi the Head, Investment Banking at Stanbic Bank Tanzania

What does winning the Best Investment Bank award in Tanzania mean to the Bank and  clients?

Elibariki Ndossi - Head, Investment Banking - Stanbic Bank Tanzania: It’s exciting but also rewarding to the efforts across multiple

Why two FCT members struck out appeal on cement firm's merger

 

art of the Tanga Cement Plc factory in Tanga. PHOTO | FILE


Dar es Salaam. A majority ruling by the Fair Competition Tribunal (FCT) has struck out an appeal where one company was opposing a merger between two cement firms.

Fuel prices: Why Tanzanians must brace for tougher times

 



Dar es Salaam. Tanzanians must be bracing for more pains as several factors point to further increases in prices of petrol and diesel and that

Tighten Your Belt: Gov’t Effects New Taxes On Consumable Goods, M-Pesa Services

 

 




By Stephen Letoo

AI has delivered convenience, but is it a game-changer?

BDAI

Is AI the game-changer or is it just another useless marketing hyperbole? PHOTO | SHUTTERSTOCK   

By RUFUS MWANYASI More by this Author

Many meaningless buzzwords these days. Here are a few: game-changer, corporate....

Why low completion rate among PhD candidates should worry the State

BDGRADUATE

The deterioration of the quality of education in the country should be a concern to those in power. PHOTO | SHUTTERSTOCK   


By OTIENO PANYA More by this Author

The deterioration of the quality of education in the country should be a concern to...

Thursday, August 3, 2023

Investors suffer Sh5 billion losses in bond sales

nse

Nairobi Securities Exchange (NSE) on the trading floor. FILE PHOTO | NMG 

By CHARLES MWANIKI More by this Author

Bond investors recorded net capital losses of Sh5.1 billion when selling their securities in the secondary market on the Nairobi Securities Exchange (NSE) in the

London Distillers hit with Sh332m tax bill

DNBungeGalot0208

London Distillers Company Ltd Chairman Mohan Galot (Right) and Managing Director Avin Galot before the Departmental Committee on Finance and National Planning at Parliament Building Nairobi on August 2, 2023. PHOTO | DENNIS ONSONGO | NMG  

By EDWIN MUTAI More by this Author

The Kenya Revenue Authority has hit alcohol manufacturer London Distillers Kenya (LDK) with a Sh332 million tax bill that the Treasury had waived during the regime of retired President Uhuru Kenyatta.

Demos cause sharpest drop in trade deals since 2022 poll

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Police officers walk past a bonfire started by a group of Azimio-led Anti-government protestors along Mlolongo Town link road, Machakos County on July 19, 2023. PHOTO | WILFRED NYANGARESI | NMG  

By CONSTANT MUNDA More by this Author

Business deals in the private sector last month contracted at the sharpest rate since the

Open university to cut tuition costs by 75pc, says President Ruto

open university

President William Ruto gives an award of Charter to the Open University of Kenya at Konza Technopolis on August 3, 2023. Receiving is Prof Chaha Nyaigotti-Chacha, Chairman of the Kenyan Commission for University Education (CUE) as Ezekiel Machogu Cabinet Secretary for the Ministry of Education(first right) and other officials look on. PHOTO | BILLY OGADA | NMG  

By KABUI MWANGI More by this Author

Kenya’s first-ever fully-fledged virtual university will ride on limited operational