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Saturday, 22 July 2017

PAYOUT TO DEPOSITORS OF MBINGA COMMUNITY BANK (UNDER LIQUIDATION)

WHY JACK MA WENT TO KENYA, RWANDA WITH 38 CHINESE BILLIONAIRES IN TOW

Jack Ma, founder of Alibaba visited Kenya and Rwanda as part of his role as a special adviser on youth entrepreneurship to the UN.
(CNN) Jack Ma, Asia's richest man and founder of Alibaba Group is on a two-day trip to east Africa, visiting Kenya and Rwanda with 38 fellow Chinese billionaires, all no doubt poised with expensive fountain pens, ready to ink billion dollar deals. 
East Africa has become an attractive investment destination in recent years, owing to its improved business environment. 
    According to Ernst & Young's 2016 Africa attractiveness program, East African countries recorded the highest share of Foreign Direct Investment in Africa, achieving 26.3 percent of total projects.

    BANK OF TANZANIA SCHOLARSHIP ANNOUNCEMENT

    MAZARS PURSUES ITS DEVELOPMENT IN AFRICA BY INTEGRATING WITH WISCON ASSOCIATES IN TANZANIA

    French Embassy Economic Advisor, Beatrice Alperte (third left), presses a laptop key to launch the rebranded Mazars Wiscon Associates website during an official inauguration of a partnership between the international audit, accountancy, tax, legal and advisory services firm Mazars and Tanzanian audit firm Wiscon Associates at a function in Dar es Salaam on Wednesday. From left are, Wiscon Associates Partners, Ipyana Lazaro, Witness Shilekirwa and other senior officials from Mazars. 
    Wiscon Associates Managing Partner, Witness Shilekirwa giving her welcoming remarks at the ceremony.
    NBAA Consultant and former Deloitte Managing Partner, Simon Mponji (left) chats with French Embassy Economic Advisor, Beatrice Alperte (centre) and Wiscon Associates Managing Partner, Witness Shilekirwa, during the official inauguration ceremony in Dar es Salaam.
    NBAA Consultant and former Deloitte Managing Partner, Simon Mponji (right) speaks to Mazars South Africa Partner, Kariem Hoosain (left) while Wiscon Associates Managing Partner, Witness Shilekirwa (second left) looks on, during the function. 

    BUYERS AND SELLERS TO BENEFIT FROM NMB’S TRADE FINANCE PRODUCTS

    NMB’s initiative to re-emphasize the importance of trade finance products is expected to boost local and international trade within the business community in Tanzania.



    The Bank’s Trade Finance products target both existing and potential Customers across all the segments from MSE to Corporate Customers who require trade finance solutions to support their business.

    Trade finance is essential for local and international trade. This financial intermediation will help NMB Customers to manage risks inherent in international transactions, improve their liquidity and enable them to optimally invest to enhance their growth.

    The objective of NMB Trade Finance Campaign is to unveil NMB’s strength and capability in trade finance, raising awareness and understanding of trade finance products and solutions as well as encouraging Customers to use them for financing and risk mitigation of their day to day business.

    AFRICAN ECONOMIC CONFERENCE 2017 TO FOCUS ON GOVERNANCE FOR STRUCTURAL TRANSFORMATION - CALLS FOR PAPERS

    The 2017 African Economic Conference (AEC) will be held from 4-6 December in Addis Ababa, Ethiopia, on the theme, ‘Governance for Structural Transformation.’

    AEC will among other things, foster dialogue that promotes the exchange of ideas and innovative thinking among researchers, development practitioners and African policymakers.

    The 12th edition of the Conference series will offer a unique opportunity for researchers, policymakers and development practitioners from Africa and around the world to reflect on the progress made by African countries in structurally transforming their economies.

    JOB VACANCIES - TIB CORPORATE BANK LIMITED

    Friday, 21 July 2017

    AGA KHAN INTRODUCES NEW DEGREE PROGRAMME

    In Summary
    This was disclosed by the Aga Khan Development Network (AKDN) resident representative, Mr Amir Kurji on Wednesday.

    Dar es Salaam. The Aga Khan University is introducing a Master’s Degree in Medicine and Surgery for Tanzanian doctors with hopes that it will help bring quality healthcare services in the country.

    This was disclosed by the Aga Khan Development Network (AKDN) resident representative, Mr Amir Kurji on Wednesday.

    EXPERTS SUGGEST WAYS TO BENEFIT FROM FDIs

    In Summary
    Opening a day long round-table discussion on local content development in the country's agriculture and minerals; status and opportunities on Thursday, National Economic Empowerment Content (NEEC) Acting Director of local content Ms Esther Mmbaga, called upon stakeholders to collaborate in addressing the challenges.

    Dar es Salaam. Economic incapability, poor quality of agricultural produce, low quantity of productions and untimely delivery of goods are challenges prohibiting Tanzanians from benefiting from the Foreign Direct Investment (FDI).

    Opening a day long roundtable discussion on local content development in the country's agriculture and minerals; status and opportunities on Thursday, National Economic Empowerment Content (NEEC) Acting Director of local content Ms Esther Mmbaga, called upon stakeholders to collaborate in addressing the challenges.

    $156M PLAN TO BOOST TOURISM IN RUAHA, SELOUS

    In Summary
    The plan, which will be financed by the World Bank (WB), will involve upgrading of roads leading to the iconic tourist sites in the zone, including the Ruaha National Park and Rungwa and Selous game reserves.

    Arusha. The government yesterday announced a $156 million (Sh340 billion) major plan to boost tourism in the southern circuit.
    The plan, which will be financed by the World Bank (WB), will involve upgrading of roads leading to the iconic tourist sites in the zone, including the Ruaha National Park and Rungwa and Selous game reserves.
    Under it, the local airlines would be encouraged to increase their fights to the Mbeya and Iringa airports currently being expanded.
    The huge swathe of land in the southern part of the country, where the largely virgin national park, game reserves and other natural attractions are found, have airstrips.

    DHL REAFFIRMS ITS PRESENCE IN TANZANIA

    DHL Tanzania Limited Managing Director, Mr. Femi Olaiya, speaks to reporters in Dar es Salaam on Wednesday regarding the improvement of infrastructure and technology for sustainable operation in Tanzania. Looking on is Mr. Thabit Mndeme, Country Commercial Manager.
    A Global leader in courier and express services provider, DHL Express, has reaffirmed its commitment to Tanzania which it describes as a key growth market in the East African region given its stable economy growth, political stability and conducive business environment.

    The commitment by the company comes after players in the logistics were thrown into confusion after reports that one of DHL Express sister-company, DHL Global Forwarding (DGF) had ceased operations in Tanzania.

    “DGF is another business division of our parent company Deutsche Post DHL Group; DHL Express is a separate legal entity and is no way affected by the change,” the DHL Managing Director for Tanzania, Mr Femi Olaiya, said during a media briefing on Wednesday.

    TANZANIA TRADERS SMELL RAT IN KENYA'S LPG IMPORT BAN


    A local association for liquefied petroleum gas (LPG) traders is smelling a rat in the recent decision by the government of Kenya to ban LPG imports from Tanzania, pointing an accusing finger at some influential Kenyan firms wanting to monopolise the business in that country.

    “There are no good reasons to ban LPG trade between Kenya and Tanzania except for the influence of some few companies in that country wanting to monopolise the business there.

    “The consequence of the ban is that some companies in Kenya operate in a monopolistic setup, contrary to fair competition practices as set by East African common market rules,” the association said in a statement issued to the media on Wednesday.

    Companies from Tanzania have been exporting gas to Kenya for the past ten years and before the embargo, they used to dispatch about 40,000 metric tonnes out of 100,000 metric tonnes they import into Tanzania per annum.

    TANZANIA APRM IMPLEMENTATION ON COURSE

    Vice-President Samia Suluhu Hassan, displays African Peer Review Mechanism (APRM) Tanzania Programme at the launch of the Country Review Report (CRR) at the Julius Nyerere International Convention Centre (JNICC) in Dar es Salaam on Wednesday. Looking on (from left) is the APRM Chairman, Prof. Has a Mlawa, Vice-Chairperson Madam Madonna, APRM Board Member, Ambassador Ombeni Sefue and Permanent Secretary in the Ministry of Foreign Affairs and East African Cooperation, Dr. Aziz Mlima.
    The government has promised to implement all the recommendations suggested in the Africa Peer Review Mechanism (APRM) Country Review Report (CRR) that was officially launched on Wednesday by the Vice President, Samia Suluhu Hassan.

    The VP said at the official launch that the challenges raised in the APRM report would be addressed by the broader strategies of the country’s Development Vision 2025 aimed at transforming and expanding the economic base of Tanzania to become a semi-industrialised country.

    “As the government we view APRM as one of the instruments that will support the attainment of the vision,’’ she said. The report was conducted in 2012 and presented in Addis Ababa, Ethiopia, in 2013 by Former President Jakaya Kikwete.

    PRESIDENT JOHN MAGUFULI WARNS DEFIANT FUEL DEALERS

    President John Magufuli is joined by the Minister for Works, Communication and Technology, Prof. Makame Mbarawa (sixth left), Government Officials and Members of Parliament in cutting a ribbon to officially open the 154km Biharamulo - Kagoma - Lusahunga road in Kagera Region on Wednesday.
    • Issues 14-day ultimatum for service stations to fit EFPPs
    President John Magufuli has added weight to the ongoing Electrical Fiscal Petrol Printers (EFPPs) crackdown, issuing a 14-day ultimatum to owners of petrol stations countrywide to ensure that they fit their pumps with the gadgets or risk losing their businesses.

    He has also directed regional commissioners (RCs) and district commissioners (DCs) to closely supervise the exercise. President Magufuli read the riot act ON Wednesday when addressing a public rally at Biharamulo Township, where he launched the 154kms Kagoma-Biharamulo-Lusahunga road.

    “For quite a long time, businessmen operating petrol stations have been evading paying tax. The Fifth Phase government is determined to ensure that majority Tanzanians get essential services including health and education. We cannot make that possible if some traders evade paying necessary taxes, leaving the burden to public servants and peasants who toil all the year on the farm,” he said amid applause.

    Thursday, 20 July 2017

    DODOMA TO BECOME SUSTAINABLE CITY BY 2025

    DODOMA is set to become the country’s first Sustainable City come 2025 under Sustainable Dodoma Vision 2025. According to reliable sources, a sustainable city, or eco-city (also “ecocity”) is a city designed with consideration of environmental impact.
    Under the Dodoma Vision 2025, the regional authorities will ensure residents access safe and affordable housing, and upgrading slum settlements. It also involves investment in public transport, creating green public spaces, and improving urban planning and management in a way that is both participatory and inclusive.
    The Deputy Minister of State in President’s Office (Regional Administration and Local Governments) Mr Seleman Jaffo, speaking here recently, said to make Dodoma a Sustainable City the government would adopt the Metro-Hub concept.
    “The Metro-Hub concept which links Emerging Small Towns, Satellite and Capital City will help to address urbanisation in Dodoma Metropolitan City,” explained the Deputy Minister at a workshop on Rural-Urban Interface with Focus on Sustainable Urban and Metropolitan Planning for Dodoma Vision 2025.

    PRECISION AIR ANNOUNCES START OF SCHEDULED KAHAMA FLIGHTS SEPT 5, 2017

    In Summary
    The airline made the announcement when it made a successful test flight using its ATR42-500 aircraft. The statement quotes the company’s corporate affairs manager, Mr Hillary Mremi, as saying the flights will be on Wednesdays, Fridays and Sundays.

    Kahama. Precision Air Services Plc will start flying to Kahama on September 5, 2017 the company announced on Monday.

    The airline made the announcement when it made a successful test flight using its ATR42-500 aircraft. The statement quotes the company’s corporate affairs manager, Mr Hillary Mremi, as saying the flights will be on Wednesdays, Fridays and Sundays.

    CHANGE OF NAME TO NMB BANK PLC


    NMB BANK PLC WINS THE BEST BANK TRANSFORMATION IN AFRICA AT EUROMONEY AWARDS

    NMB has also won the Best Bank in Tanzania for the 5th year in a row

    Dar es Salaam, 17 July 2017 - NMB PLC has been named the Best Bank Transformation in Africa by the leading global financial markets magazine at the Euromoney 2017 Awards for Excellence in London. NMB has also been awarded the Best Bank in Tanzania Award at the same event for 5th year in a row.

    Euromoney Awards for Excellence 2017, the most prestigious awards in the global banking industry, welcomed over 600 senior bankers from around the world at the Tower of London last week with NMB named the Best Bank Transformation in Africa and the Best Bank in Tanzania.

    Euromoney said. “NMB today is the bank that works, rather than one which exists. Tough decisions around capital, businesses and people have been made. Throughout that process, NMB has continued to deliver strong profits and pay industry-leading dividends to shareholders.”


    NMB’s Managing Director, Ineke Bussemaker, said innovative products, technology and investments in digital banking coupled with the widest branch network and ATM’s have contributed to the transformation of the bank making it the best bank for financial inclusion.


    BUYERS AND SELLERS TO BENEFIT FROM NMB BANK PLC TRADE FINANCE PRODUCTS


    Dar es Salaam, 19 July 2017 - NMB’s initiative to re-emphasize the importance of Trade Finance products is expected to boost local and international trade within the business community in Tanzania.

    The bank’s Trade Finance products target both existing and potential customers across all the segments, from MSEs to corporate customers who require trade finance solutions to support their business. Trade Finance is essential for local and international trade. This financial intermediation will help NMB customers manage risks inherent in international transactions, improve their liquidity and enable them to optimally invest to enhance their growth.

    Speaking at the Launch, NMB Managing Director, Ineke Bussemaker, said the bank is well placed in the market to support its customers with comprehensive Trade Finance products to support their business. “With the country’s target of industrialization, it is important for NMB as a leading bank to increasingly support the market through Trade Finance. This is the key towards achieving the industrialization target of the country,” said Ms Ineke.

    CHANGE OF NAME TO NMB BANK PLC

    Dar es Salaam, 19 July 2017 - We are delighted to inform you that today marks an exciting chapter in our journey as we officiate a name that demonstrates progressive banking while still preserving everything that Tanzanians have come to love about the brand over the past 12 years since privatization.

    The bank’s new name was revealed at the 17th Annual General Meeting (AGM) held on 3rd June 2017 when the shareholders resolved to change the name of the Bank from ‘National Microfinance Bank Public Limited Company’ to ‘NMB Bank PLC’.

    The Bank of Tanzania (BOT) gave approval to the name change and has issued a new banking licence to NMB Bank Plc. BRELA has also issued the bank with a Certificate of Change of Name.

    JUMIA TRAVEL LAUNCHES A NEW FEATURE TO SCALE FACEBOOK MESSENGER AS A CS CHANNEL


    Africa’s leading online travel agency Jumia Travel has announced the launch of customer service for Messenger with Salesforce (world’s leader in Customer Relationship Management).
    Dar es Salaam, Tanzania - 19 th July, 2017 – Facebook Messenger is now fully integrated in Jumia Travel’s system as a powerful channel for Customer Service. The integration of customer service for Messenger in Jumia Travel’s system marks a new dawn for its customer service experience, as it offers a live chat experience on Facebook Messenger. The tool can also be used to instantly request for a hotel room on the platform, where the company’s professional Travel Advisors will offer counsel on the best accommodation options as well as make the booking.

    As the first African travel company to use FB Messenger for customer service, Estelle Verdier, Jumia Travel’s COO and Co-Founder says that this is a “show of our great commitment to always bring the latest technology and high quality services to our customers”.

    TANZANIA WINS US$21.7 MILLION FROM CLIMATE INVESTMENT FUNDS TO ADVANCE GEOTHERMAL EXPLORATION AND TRANSFORM ITS ENERGY SECTOR

    The Climate Investment Funds (CIF) has approved US $21.7 million for the United Republic of Tanzania to finance its Geothermal Energy Development Project. 
    The project serves as a significant step in advancing the country’s plans to transform its national economy bolstered by an affordable and baseload sustainable energy technology. It will develop the Ngozi geothermal steam field in southwestern Tanzania and ultimately showcase the technology’s broader potential in the country’s energy transformation. 
    The project is funded under the CIF’s Scaling-up Renewable Energy Program (SREP) and will receive US $ 5 million as loan and US$16.73 million in grant resources to be implemented by AfDB. 
    Tanzania has made significant economic and social progress over the past 20 years and is today one of Sub-Saharan Africa’s best economic performers. However, the country still wrestles with poverty and an under-developed energy sector, with half of its electricity being generated by fossil-based technologies and half from hydro. 

    CURRENT VACANCIES - AFRICAN DEVELOPMENT BANK GROUP


    Wednesday, 19 July 2017

    NATIONAL HOUSING CORPORATION THROWS ITS WEIGHT BEHIND KAWE SATELLITE CITY DEVELOPMENT

    National Housing Corporation Director General, Nehemiah Kyando Mchechu.
    The state-owned real estate developer, National Housing Corporation (NHC), is envisioning to develop the proposed $2.2 billion dollars (about 4.9trl/-) Kawe Satellite City into an eventful central business district, initially slated to operate for 20 hours a day.

    “At present the existing CBD in downtown Dar es Salaam operates for just eight to ten hours – even though the country’s commercial capital contributes almost 60 per cent to the Gross Domestic Product (GDP) – hence the need to create another vibrant business district to boost the economy.

    “Through public-private partnership between NHC and private real estate developers we envisage to fully accomplish this mega project in the next 10 to 15 years,” the Director General of National Housing Corporation (NHC), Mr Nehemiah Mchechu, has stated.

    According to Mr Mchechu, the current master plan for the central business district in Dar es Salaam’s inner city does not provide necessities for a modern city with ever increasing population growth.

    The envisaged satellite city in Kawe will involve over 500 buildings. “It’s our vision to have a relevant satellite city with provisions for at least the next 50 years,” Mr Mchechu said during a briefing session with local councillors from Kinondoni Municipality who were on a familiarization tour of NHC projects in Dar es Salaam.

    TANZANIA NAMED AFRICA’S LEADING SAFARI DESTINATION

    In Summary
    The website conducted an analysis of more than 2,500 expert and safari-goer reviews and declared Tanzania the best safari country in 2017. “Our analysis included more than 2,500 expert and safari-goer reviews. The reviews were evaluated to find the overall favourite and decide the 2017 winner,” says a report posted on the website.

    Dar es Salaam. Tanzania is Africa’s best safari destination, according to SafariBookings.com, the largest online marketplace for African safari tours.

    The website conducted an analysis of more than 2,500 expert and safari-goer reviews and declared Tanzania the best safari country in 2017. “Our analysis included more than 2,500 expert and safari-goer reviews. 

    The reviews were evaluated to find the overall favourite and decide the 2017 winner,” says a report posted on the website.

    The reviews were written by tourists who went on a safari and some of Africa’s leading travel experts.

    “In our original analysis in 2013, Tanzania also swept away challenges from other sub-Saharan African nations. It is the second time the country has been awarded our overall winner of the best African country for a safari.”

    PRESIDENT JOHN MAGUFULI GIVES FUEL TRADERS 14 DAYS TO INSTALL EFDS

    In Summary
    He issued the directive in Biaharamulo, when he was inaugurating a project to construct a 154 kilometer Kagoma-Biharamulo-Lusahunga Road.
    “It’s better we lack fuel rather than to have traders, who evade taxes…I am giving operators of fuel stations 14 days to install Electronic Fiscal Devices or otherwise they will lose their licenses,” said President Magufuli.

    Biharamulo. President John Magufuli has directed all petrol stations across the country to install Electronic Fiscal Devices within fortnights or risk losing their licences.

    He issued the directive in Biaharamulo, when he was inaugurating a project to construct a 154 kilometer Kagoma-Biharamulo-Lusahunga Road.

    “It’s better we lack fuel rather than to have traders, who evade taxes…I am giving operators of fuel stations 14 days to install Electronic Fiscal Devices or otherwise they will lose their licenses,” said President Magufuli.

    Chaos ensued earlier this month after a cross-section of filling stations across the country were closed on directives of the Tanzania Revenue Authority (TRA) for failing to issue EFD receipts.

    VODACOM TANZANIA EXTENDS ITS IPO DEADLINE


    TANZANIA TELECOMMUNICATIONS COMPANY LIMITED TO PRODUCE PHONES LOCALLY

    The Tanzania Telecommunication Company Limited (TTCL) has announced its intention to establish a plant to manufacture telephone and related gadgetry locally. The firm announced its plans at a function to launch its mobile cash services which will trade as TTCL PESA.
    The company’s Chief Executive Officer, Waziri Kindamba, broke the news during the TTCL PESA launch at TTCL headquarters in Dar es Salaam yesterday, an event which was attended by Vice-President Samia Suluhu Hassan and other key officials from the Ministry of Works, Transport and Communications and Tanzania Communications Regulatory Authority (TCRA).
    Asked by this paper on the investments of the project, the CEO was brief: “It’s 25 per cent of $300m,” which works out to $75m.
    Early this year, China’s state owned Datang Telecom International Technology company announced it was giving TTCL some $300m (over 600bn/-) to enable its technological capacity and become a leader in East and Central Africa’s communication industry.

    NHC GETS USD55M LOAN FOR DAR PROJECT

    Dar es Salaam. In what can be described as a major boost, the National Housing Corporation (NHC) has secured a $55 million loan from PTA Bank, the financial arm of Comesa--to construct a commercial centre and satellite city at Kawe in Dar es Salaam.

    This was revealed by the director general of NHC, Mr Nahemia Mchechu, yesterday.

    Addressing councillors from Kinondoni Municipality who toured the project site that comprises the premises of defunct Tanganyika Packers, Mr Mchechu said with funds secured, the project is scheduled to be completed by 2020.

    Owned by Comesa, the PTA Bank is open to non-Comesa states like Tanzania. “The process of building the centre is geared up as we are going on smoothly with construction.

    When the project is completed it is going to be the busiest centre in this city, hosting at least 50,000 people for 20 hours non-stop,” he said.

    PRESIDENT JOHN MAGUFULI EMBARKS ON ROAD PROJECT LAUNCH MARATHON

    President John Magufuli.
    Bukoba - President John Magufuli is scheduled to officially launch construction of nine road projects in Kagera, Kigoma and Singida regions as well as Tabora airport between today and next Tuesday.

    In Kagera, Dr Magufuli is expected to launch the 154-kilometre Kigoma-Biharamulo-Lusahunga road project that will cost about 160bn/-. The launching ceremony is planned at Biharamulo Township today.

    According to a programme released by Kagera Regional Commissioner’s office here on Monday, President Magufuli will spend two days in the region, with his activities including a public rally in Ngara District on Thursday.

    Retired President Jakaya Kikwete laid the foundation stone for the road project in August 2013. Tanzania National Roads Agency (TANROADS) Chief Executive Officer Engineer Patrick Mfugale said the project was delayed due to failure by the initial contractor to timely execute the venture as per contract, leading to his dismissal.

    A separate statement by the Permanent Secretary in the Ministry of Works, Transport and Communications, Engineer Joseph Nyamhanga, indicated that President Magufuli will on July 21 lay the foundation stone for construction of 50-kilometre Nyakanazi-Kibondo road in Kigoma region.