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Thursday, 28 January 2016

ETIHAD AIRWAYS NAMED BUSINESS AIRLINE OF THE YEAR

Etihad, A380 First Class Apartment.
Etihad Business Studio.
Etihad, The Residence.
Etihad, Food & Beverage Manager.

PRIME MINISTER, KASSIM MAJALIWA LEADS A WORKING SESSION IN DODOMA

Prime Minister, Mr. Kassim Majaliwa leads a working session of the cabinet in Dodoma yesterday. 

BANK OF TANZANIA NOTICE TO THE GENERAL PUBLIC

This is to inform the general public that Bank of Tanzania (BOT) has issued a banking license to a new Microfinance Bank namely Hakika Microfinance Bank Limited. The license allows the company to carry out banking business as a Microfinance bank operating in Tanzania. The bank's head office is located at Arusha Consultants House No. 12, Col. Middleton Road, Arusha.

Bank of Tanzania,
28th January 2016.

FOREIGN CURRENCY EXCHANGE RATES, COURTESY OF NMB


Wednesday, 27 January 2016

THE TONY ELUMELU FOUNDATION, UNITED BANK FOR AFRICA PLC AND THE UNITED STATES DEPARTMENT OF COMMERCE PARTNER TO ENABLE ENTREPRENURSHIP IN AFRICA

L-R: Group Managing Director United Bank for Africa (UBA) Plc, Mr. Phillips Oduoza; US Secretary of Commerce, Penny Pritzker; UBA Chairman, Mr. Tony Elumelu during the panel and roundtable discussion between members of the U.S. Presidential Advisory Council on Doing Business in Africa (PACDBIA) and a diverse community of entrepreneurs hosted by Tony Elumelu Foundation and UBA Plc in Lagos yesterday.
U.S Secretary of Commerce, Penny Pritzker; Select Tony Elumelu Foundation Entrepreneurs; Kehinde Yinusa, Evans George, Nosakhare Oyegun, Belema Alagun and Founder Tony Elumelu Foundation, Mr. Tony Elumelu during the panel and roundtable discussion between members of the U.S. Presidential Advisory Council on Doing Business in Africa (PACDBIA) and a diverse community of entrepreneurs hosted by Tony Elumelu Foundation and UBA Plc in Lagos yesterday.
LAGOS, NIGERIA, JANUARY 25, 2016 – The Tony Elumelu Foundation and United Bank for Africa Plc (UBA) partnered with the United States Department of Commerce to host a panel and roundtable discussion between members of the U.S. Presidential Council on Doing Business in Africa (PCDBIA)and a diverse community of African entrepreneurs.

The 11 person U.S. delegation, along with representatives of several U.S. government trade and investment-focused agencies, was led by the Honourable Penny Pritzker – U.S. Secretary of Commerce. The Council visited Lagos as part of a fact-finding mission to help inform their upcoming report to President Obama on how to strengthen commercial engagement between the U.S. and Africa, which will result in mutually-beneficial growth.

The event – titled “Unleashing Africa’s Entrepreneurs: Strengthening the Entrepreneurial Ecosystem to Empower the Next Generation of Africa’s Business Leaders” – brought together American business leaders and Nigerian entrepreneurs to discuss challenges, solutions and innovations in the current African business environment. The event was designed to allow representatives of the U.S. Government to participate in direct and substantive discussions with Africa’s emerging business leaders – an opportunity to engage in a dialogue that has the potential to influence U.S. foreign policy for Africa.

"President Obama believes, as I do, that the American private sector, working in partnership with the African business community, and African entrepreneurs can help address many of the continent’s most pressing challenges, including creating jobs and opportunity for young people across the continent," said U.S. Secretary of Commerce Penny Pritzker. "I am proud to lead our Administration’s effort to support and empower aspiring entrepreneurs, both in the United States and across the globe."

STANCHART CEO FOR AFRICA, MIDDLE EAST VISITS TANZANIA

Sunil Kaushal.
Standard Chartered Bank’s Africa and the Middle East Regional Chief Executive Officer, Mr Sunil Kaushal is expected to visit the Bank’s offices in Tanzania today.

According to a statement issued by Standard Chartered Bank Tanzania Limited, during his visit Mr Kaushal will meet with various internal and external stakeholders of the Bank in Tanzania with a view of exploring ways in which the bank can further enhance its business and support economic growth in Tanzania.

Mr Kaushal has been with Standard Chartered Bank for 18 years and has recently taken over the responsibility as Regional Chief Executive, Africa & Middle East from 1st October 2015.

Prior to this role Mr Kaushal was Regional CEO South Asia, responsible for Standard Chartered Bank’s operations in South Asia, which includes India, Bangladesh, Sri Lanka, and Nepal. His earlier roles in the bank included, Chief Executive Officer for Standard Chartered Bank, Taiwan, Limited.

During his tenure of three and a half years in Taiwan, he led the team to successfully integrate three acquisitions, building a strong platform for growth which was recognised via several first-time business and corporate social responsibility awards.

DSE BOSS TOUTS USE OF INFRASTRUCTURE BONDS

DSE CEO, Moremi Marwa
Tanzania should finance infrastructure development through their local capital markets to close the transportation gap in a timely fashion.

The country is expected to start debt-bond-markets where domestic savings are intermediating and be able to finance infrastructure projects. The Dar es Salaam Stock Exchange (DSE), Chief Executive Officer Mr Moremi Marwa said the move may leverage efforts of closing infrastructure deficits in Tanzania and Africa as whole.

“Our markets (despite being relatively small) need to be developed slowly by central governments, municipals, parastatals issuing bonds in local markets where both domestic and international players freely access them,” Mr Marwa said in a statement.

The CEO said recently some Africa countries accessed international markets “with total disregard of the local markets”.

For instance, in the last past seven years more than ten African countries have raised considerable amount from international capital markets in the form of Eurobond.

TANROADS INVITES BIDS FOR UBUNGO INTERCHANGE PROJECT


The Tanzania National Roads Agency (Tanroads) has invited the bids for Ubungo interchange at Sam Nujoma and Nelson Mandela Road junction in Dar es Salaam.

The invitation of bids kick starts the process to procure a contractor for implementation of the ambitious project, which is part of government efforts to ease traffic congestion in the city’s major roads.

Tanroads stated in its bid invitation issued recently that the works consist of construction of 1 km six-lane elevated bridge along Sam Nujoma/Nelson Mandela Road with its approach up and down ramps.

According to Tanroads, the work also involves construction of a second elevated bridge for right-turn traffic from the two intersecting roads, comprising a platform served by eight up and down two-lane ramps, and bituminous standard approach and left turning roads, other ancillary works, diversion road and construction of up-country bus station.

“The Government has applied for a credit from the International Development Association towards the cost of the Dar es Salaam Urban Transport Improvement Project (DUTP) and intends to apply part of the funds to cover eligible payments under the works contract for the construction of Ubungo Interchange and Associated Works,” reads the Tanroads notice.

AGRI-BUSINESS MEETING OPENS IN DAR

Agricultural Council of Tanzania (ACT) Chairman, Dr. Sinare Yusuf speaks to reporters in Dar es Salaam yesterday, on the Agri-Business Congress East Africa scheduled to start at Mlimani City in the city today. The congress aims at bringing together agriculture and other stakeholders. Looking on (from right) is Agri-Business Portfolio Director, Ms. Emmanuelle Nicholls, General Representative of Pottinger Dr. Franz-Georg von Busse and John Deere (Pty) Ltd Kenya Tactical Marketing Manager, Kevin Lesser.
Tanzania will today hold two-day regional agribusiness congress to create an enabling environment for all farmers to participate.

The Agricultural Council of Tanzania (ACT) Chairman, Dr Sinare Yusuf said in Dar es Salaam that the congress aims at bringing together agriculture stakeholders and exhibition for agricultural equipment at the venue.

“Now in its third year, more than 700 visitors and over 50 exhibitors are expected to attend the conference and exhibition hosted by ACT under the support of the Ministry for Agriculture, Livestock and Fisheries” he said.

The two-day conference and exhibition brings together local and international stakeholders, investors and suppliers from across the agri-value chain to set strategic plans relating to regional growth and market accessibilities in the East African agricultural corridors.

According to the Agribusiness Congress East Africa Conference Producer, Shanaaz Adams, “The event will analyse critical strategic and practical issues, including actualising development and growth in agriculture, turning farming into a profitable business and decreasing post-harvest losses amidst the challenges posed by climate change,” She added, “Tanzania is emerging as one of Africa’s top agricultural destinations.


FOREIGN CURRENCY EXCHANGE RATES, COURTESY OF NMB


JAKAYA KIKWETE HANDS OVER HEALTH CRISIS REPORT TO UN CHIEF

Retired President Jakaya Kikwete, in his capacity as Chairperson of the High-level Panel on the Global Response to Health Crises, and United Nations Secretary General, Ban Ki-moon pose after the former Head of State had presented him with a report on behalf of his panel at the world body's headquarters in New York, USA on Monday. Left is Rajav Shah (USA) and Marty Natalegawa (Indonesia).
The United Nations (UN) High Level Panel on the Global Response to Health Crisis Chair, Jakaya Kikwete, on Monday handed over his report to UN Secretary General Ban Ki-moon after the panel finished its duties.

Speaking during the handing over ceremony here on Monday, Mr Ki-moon said the UN would work on recommendations made by the panel on the report, saying the report would be handed over to the UN health agency, World Health Organisation (WHO).

He expressed his gratitude to Mr Kikwete and other panel members for the report, pointing out that the report would be soon submitted to UN members to have ample time to review it.

In his remarks, Mr Kikwete hailed the panel members for the “superb team work while carrying out its duties’’, saying that they showed resilient cooperation that enabled efficient execution of assigned duties.

IMMIGRATION DEPARTMENT INTRODUCES BUSINESS VISA, PASS

Deputy Commissioner General of Immigration Department, Abbas Irovya.
The Immigration Services Department has introduced Business Visa and Business Pass after abolishing the Carrying On Temporary Assignment Pass (CTA) following a number of shortcomings.

The spokesperson of the Department, Deputy Commissioner Abbas Irovya, said in a statement to the press in Dar es Salaam that the Business Visa and Business Pass would not be issued to foreigners who are entering the country for employment purpose.

“Those who are entering the country with such purpose will be required first to apply for the work permit to the Department of Labour before landing the job,” said the deputy commissioner.

Mr Irovya pointed out that the 90-day Business Visa would be issued to foreigners who come from the country whose citizens require entry visa and that the period would not be extended after the visa expiry.

Tuesday, 26 January 2016

MAERSK-AFRICA OIL DEAL LIFTS KENYA TO NUMBER THREE ON AFRICA DEALS MAP


Canadian explorer Africa Oil’s sale of its Kenyan assets is estimated to be one of Africa’s largest deals of 2015 according to a Thomson Reuters/Freeman Consulting report.

The annual investment banking analysis for sub-Saharan Africa said the part sale of the Kenyan and Ethiopian assets, whose value was not publicly disclosed, is the ninth biggest deal and is valued at Sh85 billion.

Africa Oil has entered into an agreement with Danish firm Maersk to sell part of its Kenyan and Ethiopian oil blocks.

Under the agreement Maersk is to buy a 25 per cent stake in all of Africa Oil’s Kenyan based-blocks and an equal 25 per cent stake in the Ethiopia Rift Basin block and a 15 per cent in the Ethiopia South Omo block.

The deal, which is being handled by JP Morgan and BNP Paribas SA, is yet to be completed but the energy ministry gave the go ahead for the sale early this month.

CHEVRON SEEKS TO DISPOSE OF 75% OF SOUTH AFRICAN OPERATIONS


U.S. oil major Chevron said on Thursday it plans to sell 75 percent of its South African business unit which includes a 110,000 barrel a day refinery in Cape Town.

Chevron is a leading refiner and marketer of petroleum products in South Africa, the most industrialised economy in Africa, where it has had a presence for more than a century.

Chevron said its call for expression of interest was in line with a three-year asset sales programme it announced in 2014.

“This demonstrates Chevron’s continuing focus on balancing our global portfolio with our long-term business priorities, and it is aligned with our previously announced $15 billion divestment program,” said Mark Nelson, the company’s president for international products, in a statement.

ENERGY SECTOR CAPTURES 40% OF AFRICAN START-UP FUNDING IN 2015


(Ecofin Agency) – According to a recent report by Disrupt Africa, African start-ups have mobilized a total of $185.7 million in funding in 2015. In total 125 companies benefitted from various financing rounds.

By sector, energy has mobilized the most funding, accounting for 39.7% of investments. This performance was driven by the $19 million mobilized by the Kenyan company M-Kopa, which offers on demand solar energy services and devices. It was also driven by Off Electric Grid, based in Tanzania, which has mobilized nearly $25 million.

The report also indicates that financial technology companies ranked second with regard to the mobilization of funds, having mobilized 24.5%. This included smaller players such as Asoko Insight.

Geographically, 36% of the capital was channeled to South Africa, followed by Nigeria (24%), and Kenya (14.4%). Other beneficiary countries were Egypt, Tanzania, and Ghana.

Agence EcoFin

ETIHAD AIRWAYS LAUNCHES FLIGHTS TO MOROCCO’S CAPITAL CITY OF RABAT

MWALIMU COMMERCIAL BANK CAUTIONS ON FAKE ONLINE JOB ADVERTISEMENTS

The management of Mwalimu Commercial Bank PLC (MCB) has strongly refuted the undated job advertisement circulating in online jobs pages and social media outlets purporting that the Bank has 120 vacancies in which it is currently recruiting.

The advert which started to circulate on Friday 22nd 2016, claim that the Bank has hired experts and consultants in the banking industry known as Quality Service Consultants, to foresee and manage the whole admission, selection and training tasks and that in the whole period of six months after which, the successful candidates will be working for the Bank as well as continuing with practical training classes under professional supervision.

The advert issued by one Christopher Mwakingwe also allege that MCB is looking to recruit experienced, self-driven, dynamic and result oriented individuals who are keen to develop a career in a dynamic, passionate and challenging environment new staffs work in different branches which are being established countrywide.

BARCLAYS BANK TANZANIA EMBARKS ON GROWING LOCAL TALENT

Kihara Maina, Barclays Bank Tanzania Managing Director.
Barclays Bank Tanzania yesterday launched management training programme to best local graduates aspiring to become the best economist and business leaders in future.

The Managing Director (MD) at Barclays Bank in Tanzania, Mr Kihara Maina said in Dar es Salaam that the programme has been designed to identify and develop high caliber, high potential local graduates by offering a thorough classroom training programme and provision of good insight in the business and the market.

He said currently there are ten management trainees who are the graduates from various local universities and the programme is costing about 1bn/-. It is an every year programme.

“This is the third time that we are taking in the best graduates from several local universities for designed management programme,” he said.

He said the programme is designed to expose the best local graduates to the inner workings of one of the largest financial institution that has continental and global footprints and they are confident that wherever the graduates are placed in business will be able to gain tremendous experience in the industry while honing in their business skills.

KIGAMBONI BRIDGE TO BE READY FOR USE IN MARCH

Kigamboni bridge.
The 680- metre Kigamboni Bridge will start to be used in March this year, the government said in Dar es Salaam.

Also, in a bid to reduce congestion in the city, the government is considering the possibility of connecting the 240bn/- worth Kigamboni Bridge with Charambe, Mlandizi to Chalinze roads.

The Permanent Secretary in the Ministry of Works, Transport and Communication Mr Joseph Nyamhanga directed the construction supervisor to ensure the works are completed by mid February ready for use in March.

“Make sure that motorists start using the bridge by March this year to ease them from hassles of congestion at Magogoni area,” he told the construction supervisor.

FOREIGN CURRENCY EXCHANGE RATES, COURTESY OF NMB


REMARKS DELIVERED BY AKINWUMI A. ADESINA, PRESIDENT OF THE AFRICAN DEVELOPMENT BANK, AT THE RECEPTION ON THE NEW DEAL ON ENERGY FOR AFRICA AND THE LAUNCH OF THE TRANSFORMATIVE PARTNERSHIP ON ENERGY FOR AFRICA, DAVOS, SWITZERLAND, JANUARY 20, 2016

Akinwumi Adesina.

SERENGETI DISTRICT COUNCIL RECEIVES DONATION OF ICT EQUIPMENT FROM SINGITA GRUMETI RESERVES


Serengeti district court receives donation of ICT equipment from Singita Grumeti Reserves (SGR) and its sister organization, Grumeti Fund (GF) have donated modern Information and Communication Technology (ICT) equipment to the Serengeti District Court in Mara Region at the weekend.

The donation which included HP computer desk top, HP printer LaserJet, Sollatek, toner as well as photocopy papers is expected to see the district court issuing judgment copies within one week of ruling. This will be a great improvement as this process previously took up to three months.
SGR and GF Relationship Manager Mr Ami Seki said the donation was in response to a request made by district court October last year.

“On behalf of Singita Grumeti Reserves and Grumeti Fund, I would like to hand over this IT equipment which we believe will make simplify your (Serengeti district court) work.” Mr Seki said during the official hand over of the donation in brief event held at the Serengeti District Court’s office.

SHINDANO LENYE FURSA YA KUKUZA MITAJI KWA VIJANA LA MO MJASIRIAMALI LAZINDULIWA

DSC07284-2
Mwenyekiti wa Taasisi wa MO Dewji, Mohammed Dewji

              

Na Modewjiblog team

Mwenyekiti wa Taasisi wa MO Dewji, Mohammed Dewji kwa kushirikiana na kampuni ya Darecha Limited leo (jumatatu) wamezindua shindano la Mo Mjasiriamali lenye lengo la kusaidia kukuza ujasiriamali miongoni mwa vijana.

Shindano ya Mo Mjasiriamali litatoa fursa ya ukuzaji wa mitaji, ulezi wa wajasiriamali na mitandao ya biashara kuongeza mwanga, ujasiri na kuzalisha wajasiriamali Tanzania.

“Mimi kama Mjasiriamali kijana na mzaliwa wa Singida vijijini, sikufikiria hata mara moja kama leo ningekuwa Mkurugenzi Mtendaji wa moja ya makampuni yaliyofanikiwa sana katika nchi yetu na hata barani Afrika.” Inasema taarifa Mkurugenzi Mtendaji huyo wa MeTL kwa vyombo vya habari mwishoni mwa wiki.

Aidha alisema Afrika ni moja ya bara linalokua kwa haraka na lenye ukuaji imara wa uchumi na amini vijana wa Tanzania wana nafasi kubwa ya kutumia fursa hizo ili kujiletea uchumi endelevu.

MTANDAO WA TIGO 4G LTE KUPANUKA HADI MOSHI

Meneja Mawasiliano wa Tigo, John Wanyancha akiongea na waandishi wa habari (Hawapo pichani) kuhusu uzinduzi wa 4G mjini moshi pia udhamini wa Tigo katika mbio za Kili Nusu Marathon ambapo mbio hizo zitafanyika Februari 28, Wilayani Moshi na zitahusisha wanariadha wa ndani na nje ya nchi kutoka pande mbalimbali za dunia.Uzinduzi huo ulifanyika Kibo Palace Homes.
Moshi, Januari, 2016 - Kampuni ya simu za mkononi ya Tigo ambayo inaongoza kwa kuendesha maisha ya kidijitali imetangaza mpango wake wakupanua huduma ya intaneti ya 4G hadi Moshi ifikapo Februari mwakahuu. Huduma hiyo ilizinduliwa kwanza jijiniDar es Salaam mwanzoni mwa mwaka jana na baadaye ilisambazwa kwenye mikoa ya Arusha, Tanga, Dodoma na Morogoro, kwa ufanisi na hivyo kuufanya mtandao wa 4G kuwa mpana na wakasi nchini Tanzania.

Ikichukuliwa kama teknolojia nzuri ya hivi karibuni kwenye sekta Ya mawasiliano duniani isiyo na dosari katika kuifikia huduma ya intaneti, teknolojiaya 4G LTE inakasi takribani maratan ikilinganishwa na teknolojiaya 3G Ambayo inatumiwa na watoaji wengine wahuduma hiyo kwenye soko la Tanzania.

Friday, 22 January 2016

TIGO WAZINDUA UDHAMINI WA MBIO ZA NUSU MARATHON MJINI MOSHI

Meneja Mawasiliano wa Tigo, John Wanyancha akiongea na waandishi wa habari (hawapo pichani) kuhusu udhamini wa Tigo katika mbio za Kili Nusu Marathon ambapo mbio hizo zitafanyika Februari 28, Wilayani Moshi na zitahusisha wanariadha wa ndani na nje ya nchi kutoka pande mbalimbali za dunia. Uzinduzi huo ulifanyika Kibo Palace Homes.
Meneja wa Tigo Kanda ya Kaskazini, Henry Kinabo, akifafanua jambo kwa waandishi wa habari kuhusu udhamini wa Tigo kwa mbio za Nusu Marathon mbio hizo zitafanyika Februari 28, Wilayani Moshi na zitahusisha wanariadha wa ndani na nje ya nchi kutoka pande mbalimbali za dunia. Uzinduzi huo ulifanyika Kibo Palace Homes.
Mkuu wa Wilaya ya Moshi, Novatus Makunga (watatu kushoto) akizindua mbio za Kilimanjaro Marathon kwa upande wa Moshi. Wengine ni wadhamini wakuu wa mbio hizo kutoka kushoto, Meneja wa Tigo Kanda ya Kaskazini, Henry Kinabo, Meneja Mauzo wa Kampuni ya Bia Tanzania-Kilimanjaro na Tanga, Richard Temba, Mwenyekiti wa Chama Cha Riadha Mkoa wa Kilimanjaro, Listone Metacha na Meneja Masoko wa Kampuni ya mafuta ya GAPCO, Caroline Kakwezi. Uzinduzi huo ulifanyika Kibo Palace Homes.

FASTJET GROUP CEO SET TO STEP DOWN

Ed Winter, Fastjet CEO.
Africa-focused budget airline Fastjet Plc, which launched flights from Dar es Salaam and Kilimanjaro to Nairobi last week, has announced that its chief executive Ed Winter will step down soon.

Mr. Winter will remain at the helm until a new chief executive is appointed. He will continue in an advisory role for an agreed period of time, the London-listed company said.

A recruitment firm will be appointed to start the search for a new CEO, Fastjet said.

Winters, who has been the CEO of Fastjet since 2012, has also been chief operating officer at EasyJet Plc, low cost airline Go and also CEO of National Air Services in Saudi Arabia.

The budget carrier’s re-entry into the Kenyan market has raised hope of lower air fares on the Dar es Salaam, Kilimanjaro and Zanzibar routes.

The airline has announced plans to introduce flights between Dar es Salaam and Mombasa later this year, in yet another threat to Kenya Airways’ dominance in the region.

The low-cost carrier, which on Monday launched flights from Dar es Salaam and Kilimanjaro to the Jomo Kenyatta International Airport (JKIA), also said it plans a Zanzibar-Nairobi flight by the end of the year.

FRESH AGOA HURDLE FOR SOUTH AFRICA AS US IMPOSES RESTRICTIONS

South Africa faces a fresh hurdle in the African Growth and Opportunities Act (Agoa) after United States President Barack Obama officially suspended its trade benefits under the deal.

The US leader Obama has given South Africa until March 15 to fully comply with imports from the US of poultry as well as other meat products.

Head of the South African Poultry Association Kevin Lovell claimed that the US government was demanding that South Africa weaken its animal health standards.

While it remains unclear if there are any other sticking points to the agreement, US Trade Representative Michael Froman last week warned there were more hurdles for South Africa.

He said the true test of the agreement’s success will be based on the ability of South African consumers to buy American products in local stores.

Last week, South Africa’s Trade minister, Rob Davies, announced that they had reached an understanding with the US government after long negotiations.

Promoting compliance
However, on Monday, President Obama set a new deadline for the suspension of duty-free treatment to all AGOA-eligible goods in the agricultural sector from South Africa.

The suspension will be revoked should South Africa comply with the requirements to ensure the imports are on South African shelves.

CENTRAL BANK OF NIGERIA GUARANTEES DANGOTE GROUP THE FORES FOR $14 BILLION REFINERY FINANCING

Aliko Dangote, founder and owner of Dangote Group.
Central Bank of Nigeria (CBN) has said it will assist the Dangote Group to access foreign exchange (FX) to facilitate its $14 billion refinery project.

The CBN governor, Godwin Emefiele, said this during a tour of the refinery projected to refine 650,000 barrels of crude oil per day, on Sunday at its location within the Lekki Free Trade Zone in Lagos.

The CBN governor said the support was to ease the importation of equipment needs of the Dangote refinery, saying “your ongoing $14 billion refinery investment will enjoy our support, no doubt.”

“We are doing this to fast-track the importation of equipment you need for a speedy completion of that project and to encourage other Nigerians to follow your lead.”

According to Emefiele, the tour is necessary to lend our support to this laudable project that will transform Nigeria’s downstream oil sector.

“The Dangote Group approached us to indicate their interest to invest in refining crude, such that petrol-chemicals, fertiliser and fuel will be produced, about three years ago.

AFRICAN STARTUPS: WHERE ARE INVESTORS LOOKING?

The skyline of Johannesburg, South Africa's economic capital.
African tech startups received a total amount of funding in excess of US$185.7 million in 2015, according to data compiled by Disrupt Africa.

According to its African tech startups funding report 2015, 125 tech startups raised funding in 2015 around the African continent, to the tune of US$185,785,500.

South Africa, Nigeria, and Kenya proved investors’ favoured destinations in 2015; with 36 per cent of the startups that raised funding based in South Africa, 24 per cent in Nigeria, and Kenya in third place with 14.4 per cent of deals.

The top three highest amounts of funding also went to these three locations. South African startups raised in excess of US$54,568,000 throughout the year; Nigerian startups received over US$49,404,000; and Kenyan startups brought home over US$47,365,000.

Of the 10 sectors monitored in the report, the solar sector saw the most investor activity, accounting for 32.9 per cent of total funds raised. The fintech sector proved a close second, securing 29.6 per cent of the total funds.

FOREIGN CURRENCY EXCHANGE RATES, COURTESY OF NMB


NMB, PARTNERS TO PROVIDE LOANS TO FARMERS

NMB Head of Corporate Banking, Filbert Mponzi (centre) exchanges documents with the Managing Director of John Deere for Sub Saharan Africa, Antois van der Westhuizen in Dar es Salaam yesterday, after signing a partnership agreement to provide commercial farmers and emerging contractors with loans to procure tractors from John Deere. Looking on is the NMB Commercial Manager for Agribusiness, Isaac Masusu.
Three firms have signed an agreement to deliver innovative finance solutions to emerging commercial farmers. The firms John Deere Financial in collaboration with National Microfinance Bank, and John Deere dealer, LonAgro also would work on improving accessing credit and address the cost of credit.

Under the deal, the financiers would provide finance solutions for famers that facilitate access to mechanization adoption gearing to improve cultivation practice, higher yield and increase incomes.

John Deere Financial Sub-Sahara Africa, Managing Director, Antois van der Westhuizen said the firm understands the importance of food security and having a sustainable agricultural sector.

“Given the importance of the small farmer in Africa, John Deere aims to assists in creating a system whereby farmers can improve their efficiencies at all levels,” van der Westhuizen said.

Thursday, 21 January 2016

FOREIGN CURRENCY EXCHANGE RATES, COURTESY OF NMB


BARCLAYS TO AXE 1,200 INVESTMENT BANK JOBS WORLDWIDE

Job cuts form part of strategy unveiled in 2014 to refocus operations on US, UK and serving global clients.
The new Barclays boss, Jes Staley, has kicked off a fresh wave of cuts at the group’s investment banking arm, with plans to axe 1,200 jobs and pull out of several Asian countries.

The UK bank said the majority of the impact will be in the Asia-Pacific region. It plans to pull out of Australia, Taiwan, South Korea, Indonesia, Malaysia, Thailand and the Philippines, but will offer banking coverage for those countries from other locations.

Barclays’ investment bank will also exit Russia and cover the country from London instead. It is scaling back cash equity sales around the globe, with the planned withdrawal from some central European and Middle Eastern countries as well as in the Asia Pacific zone. The bank’s China business is not affected by the cutbacks.

UBA TANZANIA TRAINS IFM (INSTITUTE OF FINANCE MANAGEMENT) STUDENTS ON CUSTOMER SERVICE MANAGEMENT

Service Quality Manager, Queen Odunga during the training session at IFM (Institute of Finance Management).   
Some of the students present at the training take a group picture with UBA staff members.
A student asks a question during the training session with UBA Team on customer service management.

TIGO WAPATA UGENI WA WANAFUNZI WA CHUO KIKUU CHA HARVARD



Mkurungezi Mkuu wa Tigo Tanzania Diego Gutierrez akizungumza na wanafunzi kutoka chuo kikuu cha Harvard, Marekani waliopo nchini kwa ziara ya kimasomo na walitembelea leo makao makuu ya Tigo Kijitonyama kupata taarifa za uwekezaji uliofanywa na kampuni ya Tigo katika sekta ya mawasiliano.
Mkurungezi Mkuu wa Tigo Tanzania Diego Gutierrez akiwa katika picha ya pamoja na wanafunzi toka chuo kikuu cha Harvard cha Marekani waliopo nchini kwa ziara ya kimasomo na walitembelea leo makao makuu ya Tigo Kijitonyama kupata taarifa uwekezaji uliofanywa na kampuni ya Tigo katika sekta ya mawasiliano.

AfDB APPROVES US $76.7 MILLION FOR UGANDA'S AGRICULTURE PROGRAMME

The African Development Bank (AfDB) has approved a US $76.7-million loan to finance phase two of the Uganda Farm Income Enhancement and Forestry Conservation Programme (FIEFOC-2).

The programme, which was commended by the AfDB Board on Wednesday, January 20 for its good design and high-impact development objectives, comprises agriculture infrastructure and agribusiness development activities as well as an integrated natural resources management scheme aimed to consolidate and expand key achievements of its predecessor (phase one), which was completed in December 2012.

Designed within the context of Uganda's National Development Plan and long-term development strategy - the Vision 2040 - the Project focuses on improving farm incomes, rural livelihoods, food security and climate resilience. It will also support sustainable natural resources management and agricultural enterprise development.

Wednesday, 20 January 2016

GOVERNMENT TO PAY AIRTEL FOR TTCL SHARES THIS MONTH

The Minister for Works, Transport and Communications, Prof. Makame Mbarawa.
The government will pay Bharti Airtel a total of 14.9b/- before the end of this month to repossess the 35 per cent stake that the mobile phone operator has in Tanzania Telecommunications Company Limited (TTCL), it has been confirmed.

This was revealed here yesterday by the Minister of Works, Transport and Communications, Prof Makame Mbarawa, when he toured TTCL facilities in the region including the national ICT broadband backbone network.

“We have held lengthy discussions with the management of Bharti Airtel after which we agreed that the government will pay the company a total of 14.9bn/- to reclaim the 35 per cent stake.

The repossession will give the state full ownership of TTCL,” the minister explained. At present, the government is the majority shareholder with 65 per cent stake while the Indian firm has the remaining 35 per cent shares.


GOVERNMENT TO SET UP LEATHER FACTORIES

Prime Minister, Kassim Majaliwa addresses Tanzanians living in Botswana after attending a SADC meeting in Gaborone, Botswana on Monday.
Gaborone, Botswana - Prime Minister Kassim Majaliwa has said here that the government plans to set up leather processing factories in Dar es Salaam, Geita and Shinyanga regions in an industrialisation drive aimed at providing reliable market for skins from abattoirs in the regions.

The Premier said here while speaking to Tanzanians living in Botswana during a meeting held at the Gaborone International Convention Centre (GICC) on Monday.

Mr Majaliwa was in Botswana for one-day visit to represent President John Magufuli at the Southern African Development Community (SADC) Summit and the community’s Organ on Politics, Defence and Security Cooperation.

“We have decided to set up the industries in the said regions so that skins and hides from the abattoirs are taken directly to the factories for production of leather,” Mr Majaliwa told the Tanzanians. He underscored the significance of industrialisation in boosting the economy, creating jobs and addition of value to local products.

WAZIRI MKUU, KASSIM MAJALIWA AKUTANA NA WATANZANIA WAISHIO BOTSWANA

Waziri Mkuu, Kassim Majaliwa akizungumza na Watanzania waishio Botswana baada ya kuhudhuria mkutano wa SADC mjini Gaborone Januari 18, 2016.
Waziri Mkuu, Kassim Majaliwa akiwa katika picha ya pamoja na Watanzania waishio Botswana baada ya kuhudhuria mkuatano wa SADC mjini Gaborone Januari 18, 2016. 
Waziri Mkuu,Kassim Majaliwa akisalimiana na Watanzania waishio Botswana baada ya kuhudhuria mkutano wa SADC mjini Gaborone Januari 18, 2016. (Picha na Ofisi ya Waziri Mkuu).