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THE shilling has gone down by slightly over 30/- against the US dollar since the beginning of the year to yesterday. It stabilized in the last six weeks due to an increase in dollars inflow from exports which eased pressure on the local currency.

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Managing Director of the Group, Mr Roberto Jarrin

Business

THE TBL Group has announced plans to construct a US $50 million (about 109bn/-) malting plant in Iringa Region to cater for increasing demand of malt at the Dar es Salaam and Mbeya Breweries.

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Confederation of Tanzania Industries Executive Director, Leodgar Tenga

Business

SEVENTEEN best manufacturers, out of 430, will be known next Tuesday at an occasion to be graced by President John Magufuli. The manufacturers are contesting in a ‘President’s Manufacturer of the Year Awards (PMAYA) 2015’ aimed at recognizing and appreciate the industrial sector’s important role in economic development.

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TANZANIA Portland Cement Company (Twiga Cement) has announced a dividend increase of 15 per cent per share for last year.

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CRDB Bank Managing Director, Dr Charles Kimei, has received the Life Time Achievement Award in recognition of more than 30 years of outstanding contributions to the banking and financial sector in Tanzania and the region.

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THE much awaited consignment of 500 tonnes of sugar have arrived in Mwanza from Kagera Sugar Limited (KSL) on Tuesday expecting to reduce the shortage of sugar now experienced in many parts of the region.

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Permanent Secretary in the Ministry of Industry, Trade and Investment, Prof Adolf Mkenda

Business

LOCAL traders have been advised to get prepared to grab great opportunity as negotiations for Tripartite Free Trade Area (TFTA) agreement between COMESA, SADC and EAC are on top gear.

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HUAWEI Tanzania has launched a ‘Seeds for the Future’ programme to provide 10 students from Tanzanian universities an opportunity to visit Beijing and work out of the company’s headquarters in Shenzhen, China.

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UMOJA Switch card holders will soon be able to use their cards in China thanks to partnership agreement signed between Umoja Switch and UnionPay. Already UnionPay card-holders access their finance through Umoja Switch web of ATMs totaling 220 across the country as from yesterday.

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GLOBAL investors and funding institutions in control of more than US$200 billion US dollars will meet in Dar es Salaam in July for a three-day investment forum to explore business and investment opportunities in Tanzania.

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CRDB Managing Director Dr Charles Kimei

Business

CRDB Bank is putting emphasis on consolidating improvements made on credit risk management processes to further reduce non performing loans. The bank said the emphasis was to lower NPLs that stands at 6.4 per cent to less than 5.0 per cent of industrial benchmark.

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SOUTH Pemba Regional Commissioner, Ms Mwanajuma Majid Abdallah (in hijab), cuts a ribbon to launch Precision Air flights to Pemba island in Zanzibar yesterday. From left is Station Manager, Abdallah Mawazo, Director of Ground Handling, Christine Cyprian and Head, Marketing and Corporate Communications, Azda Nkullo. (Photo by Mohamed Mambo)

Business

PRECISION Air launched flights to Pemba Island yesterday to tap into the potential of the island rich in tourist attractions.

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CRDB Managing Director Dr Charles Kimei

Business

CRDB Bank is sitting on 7.0bn/- worth of uncollected dividends of its shareholders which accumulated in the last 20 years. The bank has called its shareholders to collect their dividends especially those using cheques payment system, where a number of unclaimed reached 60 per cent or change mode of payments.

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BANK M CEO (Designate), Jacqueline Woiso (second left) and Dar Marathon 2016 Chair, Agnes Batengas sign MoU in Dar es Salaam yesterday whereby Bank M and Rotary Clubs will raise funds for construction of a teaching hospital at the University of Dar es Salaam (UDSM). Looking on (left) is the Rotary Protocol Chair, Hamza Kasongo and RDM Board Chair Sharmila Bhatt. (Photo by Robert Okanda)

Business

BANK M has partnered with Rotary Dar Marathon in a bid to raise over 1.0bn/- for construction of a teaching hospital in the city. The marathon, organised by seven Rotary Clubs in Dar es Salaam, staged to take off in the last quarter of this year—during Nyerere Day, expects to draw 15,000 marathoners.

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MEMBERS of the East African Legislative Assembly have gathered here for their Sixth Meeting in the Fourth Session of the Third Assembly, which has commenced here yesterday and is expected to climax next month.

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Dr Shayo

Business

THE government plans to spend 4.9tri/- to boost infrastructure development in the 2016/2017 financial year. BUSINESS STANDARD Financial Reporter, ABDUEL ELINAZA interviews Dr Hildebrand Shayo, on how the budget would contribute to country development and particularly the vision to develop a semi-industrialised economy.

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IN a move to keep pace with the government strategy to turn Tanzania into an industrial country, coffee stakeholders have resolved to revamp its production and processing by increasing size of its fields and quality for the once lucrative foreign exchange-earning crop.

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THE debate about banks to lower lending interest has been going on for quite some time, pitying two schools of thoughts.

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DAR ES SALAAM Stock Exchange (DSE) is expecting a hefty profit next year as the performance and activities of the bourse continues to increase.

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HUAWEI Tanzania has announced the arrival of its Huawei Y6Pro to the Tanzania’s market. The newest flagship in the acclaimed Huawei Y family, is a classic and timeless celebration of beauty and elegance that combines high style and performance, according to Huawei Country Manager, Mr Huziangyang Jacko.

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Zantel Chief Executive Officer, Benoit Janin

Business

ZANTEL, a leading telecom operator in Zanzibar, has invested 10 million US Dollars for its network modernization, 4G LTE expansion, as well as network capacity and quality improvements.

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FINCA International Micro-finance branch in Tarime, Mara Region has registered around 3,000 clients mainly operating on small scale business entities to offer them financial services and products.

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THE National Microfinance Bank Plc (NMB) has organized a meeting with NMB Executive Network members from the Southern highlands, a meeting that brought together over 100 emerging and large corporate who commands the annual turnover of at least 10bn/- each.

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FREIGHT and transport costs for landlocked countries in East Africa stands at 75 per cent of the value of exports eroding the global competitiveness for the region’s exports.

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SINGITA Grumeti Reserves (SGR) and its sister organisation the Grumeti Fund (GR) have spent over 16m/- since the beginning of the year to provide social assistance in various areas in the country.

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ZANZIBAR government has been lauded for plans to raise the minimum wage and lower Pay As You Earn (PAYE) tax as among initiatives to improve the welfare of civil servants in the Isles.

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DAR ES SALAAM Stock Exchange (DSE) is expecting to list two more financial institutions at main investment market in the second half of this year.

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AS sugar scarcity predicament continues to take its toll on consumers, Tanzania Chambers of Commerce, Industry and Agriculture (TCCIA) in Kilimanjaro Region has called for patriotism among traders and agents as well as fair competition in the business.

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CRDB Bank Managing Director, Dr Charles Kimei (center) shows reporters a copy of the bank’s financial year report in Arusha yesterday. He is flanked by Deputy Managing Director (Operations and Customer Services), Saugata Bandyopadhyay (right) and Deputy Managing Director, of Integrated Services, Esther Kitoka. (Photo by Staff Photographer)

Business

CRDB Bank plans to expand services to DR Congo to tap growing business opportunities in the central African state after remarkable successes in its operations in Burundi. The bank has already scouted the DR Congo for yet another international penetration and settled for Lubumbashi as its next acquisition.

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TANZANIA Women Chamber of Commerce (TWCC) plans to carry out business trainings on women in cross border trade in order to enable them grasp and fully utilise the East African Common market business opportunities.

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TANZANIA Women Bank (TWB) net profit loss has deepened as its non-performance ratio climbs to an alarming magnitude.

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Vice-President Samia Suluhu Hassan

Business

TANZANIA has disbursed nearly 300 billion/- to more than one million households in the country, to help reduce poverty among local residents in more than 161 project areas.

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SSRA Director General, Ms Irene Isaka

Business

THE Social Security Regulatory Authority (SSRA) has prepared the Social Security Scheme Administrative Expenses Guidelines, 2016, which intend to protect the interests of members, including improving their benefits.

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