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GOLD mining company Acacia Mining is looking to go beyond Tanzania into Kenya and West Africa. Acacia CEO Brad Gordon told the 2016 Investing in African Mining Indaba that the company’s growth had stemmed from a focus on business fundamentals, people and relationships.

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TANZANIA shilling gains against the dollar with steady inflows of the greenback. According to CRDB financial and market highlights, the increasing demand from the energy and manufacturing sectors however, may put some pressure on the local currency in the near future. The shilling closed at the levels of 2153/2193.

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INCREASED exports of goods and services coupled with decline of imports narrowed the current account deficit by 44.2 per cent to 1,161.9 million US dollars in the first six months of the 2015/16 fiscal year compared to 2,081.1 million US dollars of the previous period.

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TANZANIA financial and banking sector has remained sound and stable with levels of capital and liquidity above regulatory requirements.

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ECONOMY growth is projected to rise to 8.1 per cent in 2018 from 7.0 per cent last year on the back of improved and stabilized electricity supply from the natural gas reserves in Lindi and Mtwara Regions.

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COMPANIES going public through a stock exchange can save the firm’s advertising cost for its goods and services.

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AIRTEL Tanzania yesterday announced that it was embarking on “strategic rightsizing” exercise to reposition its business and enhance delivery of its services.

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THE government will sign contracts for credit rating services with two agencies in November before it issues its maiden sovereign bond later in the next financial year.

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THE government has pledged to provide technical support to local investors to enable them make informed investment decisions particularly on small scale industries.

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THE week on week market turnover at the Dar es Salaam Stock Exchange (DSE) increased three times to 11.33bn/- equivalent to 215.59 per cent rise compared to 3.59bn/- of the previous session.

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THE Court of Appeal has allowed the National Microfinance Bank (NMB) to challenge the decision of the High Court in relation to payments of 615m/- to businessman Augustino Wesaka Gidimara, who trades as Builders, Paints and General Supplies.

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LOW demand greeted the first 10-year treasury bonds to be auctioned in 2016 that ended up undersubscribed. Statistics show only one 10-year Treasury bond out of four auctioned last year became overly subscribed while the others were less attractive to investors.

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SINGITA Grumeti Reserves (SGR) and Grumeti Fund (GF) have jointly donated various learning equipment to the newly established Saint Lindaliva Justo Vocational Training (VETA) centre in Tarime District, Mara Region.

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 TWIGA Bancorp Bank has set aside 5bn/- to be loaned to various entrepreneurs through their village community banks (VICOBA) to boost their income generating activities at national level for the financial year 2016.

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PROCUREMENT and Supplies Professionals and Technicians Board (PSPTB) has decried obsessive secrecy on procurement contracts, pleading with public offices to allow professional students access to the documents in the course of collecting research data.

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THE private sector will still shoulder the burden of cracking the problem of unemployment in the country but the government will ensure that all the required infrastructure to facilitate them is in place.

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A PROJECT to improve incomes and livelihoods of cassava farmers by researching and tapping into and implementing best agricultural practices has been launched.

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THE shilling made couple of gains against the dollar in the first trading sessions of the month that was largely buoyed by the end of month inflows from the corporate sector.

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FRENCH oil and gas company Total has acquired stakes in two solar power start-ups via its $150 million Total Energy Ventures venture capital fund as it expands in renewable energy.

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EAST Africa coffee stakeholders have embraced renovation and rehabilitation (R&R),initiative as the most effective strategy to address dwindling coffee production and quality in the region.

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BANKS have said they support government directive for public institutions to transfer their revenue collection accounts to Central Bank, saying it will not cripple the banking industry daily operations.

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THE government will consider listing at the Dar es Salaam Stock Exchange by 2024 entities that will be formed after restructuring of power utility firm, Tanzania Electric Supply Company.

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CONSTRUCTION of three big cashew nut processing factories is scheduled to start early in the 2016/17 fiscal year, with the country’s processing capacity poised to rise to 30 per cent from the current 10 per cent.

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AFRICA-FOCUSED junior oil firms Aminex and Solo Oil reported Monday that the Kiliwani North-1 well in Tanzania is set to start production this month and the well is currently undergoing final well integrity testing.

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EXIM Bank announced pretax un-audited profit of 35.3bn/-for the year that ended December 2015, posting a robust growth of 46 per cent over previous year.

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AIRTEL Tanzania plans to start trainings to youth entrepreneurs through mobile phones as it rollouts the second phase of Airtel Fursa.

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WORKS, Transport and Communications Minister, Prof Makame Mbarawa, has directed construction firms to offer employment contracts to its labourers in accordance to their profession so as to improve efficiency in implementation of the construction projects.

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FASTJET says there will be up to 1,000 more seats per day available to its Tanzanian customers thanks to the addition of another Airbus A319 to its current fleet of four aircrafts.

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DESPITE month end tax and salary obligations, active investors’ participation in the treasury bills was witnessed at the auction that attracted bids for over three times over subscription.

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A MOROGORO based sportswear factory has been hailed for maximizing production and employing Morogoro residents, particularly women.

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THE NMB Bank has donated 730 desks to 15 primary schools in Kiomboi township in Iramba District, Singida Region last Friday as contribution from its corporate social responsibility to ease shortage of desks in the country.

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CRDB Bank has posted an increase in net profit of almost 46 per cent in 2015 to cement its position as the biggest bank in terms of balance sheet and branch network.

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THREE counters dominated market turnover at the Dar es Salaam Stock Exchange (DSE) last week by 93.6 per cent.

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