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TANZANIA is using Yuan in the foreign exchange reserves well ahead of its inclusion into the International Monetary Fund (IMF) elite basket of reserve currencies in September as it seeks to enjoy the benefits of diversification of reserves.

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THE National Microfinance Bank (NMB) has donated two mobile police posts to the police force in the country worth over 145m/-, that were launched by President John Magufuli in Dar es Salaam on Saturday.

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DAR ES SALAAM Stock Exchange (DSE) has sufficient liquidity to accommodate through listing telecom firms as stipulated in the amended electronic and postal communications act (Cap. 306) passed by the National Assembly last week.

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AMINEX PLC has received an approval of the one year extension of its licence term for the Mtwara Licence of the Ruvuma Production Sharing Agreement that was due to expire in December 2016.

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MMG Gold is expected to start mining operations at Seka village, Musoma District, Musoma Region on September this year.

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MARKET is no longer a problem for vegetable growers in Lushoto District in Tanga Region after introduction of a market oriented approach for production thanks to a technical support by Japan International Cooperation Agency (JICA).

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THE Business Registrations and Licensing Agency (BRELA) will take advantage of the 40th Nyerere International Trade Fair that kicks off today to educate the mass on proper procedures to formalise business.

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HIGH demand from investors greeted the third 10-year treasury bonds attracting bids almost three times the amount offered to the market for bidding, thus ending up the show overly subscribed.

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POINT of Service Office (POSO) system has impressed cotton farmers to the extent of creating 23 small scale companies in Kiseke ward, Ilemela District, Mwanza Region.

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THE German’s solar solutions provider - Mobisol has installed over 50,000 solar home and business systems to mostly low-income earners in off-grid locations in three East African countries of Tanzania, Rwanda and Kenya.

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THE Mtwara-based Dangote Cement Company has pledged to continue producing quality and affordable cement to enable low income earners to afford building decent houses.

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THE National Economic Empowerment Council (NEEC) has been advised to conduct seminars to citizens and political leaders on the concept of empowerment.

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NATIONAL Insurance Corporation (NIC) has advised Bagamoyo District to set a special day to educate public servants on the importance contributing to insurance funds for their benefits.

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A NON-profit organisation that works to promote the rights of vulnerable children is planning to disburse small loans to young women who are victims of gender based violence (GBV) and those living in difficult conditions in Mara Region so that they can establish income generating activities.

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THE Bank of Tanzania (BoT) will continue pursuing prudent monetary policy in 2016/17 to keep inflation close to the medium-term target of 5 per cent, while ensuring that liquidity level is consistent with demands of various economic activities.

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MALAWI government has contracted Tanzania-Zambia Railway Authority (TAZARA) to transport 48 million litres of petroleum products from Dar es Salaam port in the next 12 months, starting from next month.

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THE East African Business Council (EABC) demands Kenya to compensate Uganda and Rwanda traders whose properties worth over $47 million were destroyed during the 2008 post-election chaos.

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MIKUMI sugarcane growers have reasons to smile as local investors are finalising proposal to build a small scale sugar factory.

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UMOJA Switch plans sensitisation campaign to university students to stimulate innovation and promote use of technology in the banking sector.

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A CHARITY organisation has received £3 million (about 9.7bn/-) grant from the UK government to support 70,000 small holder grain farmers in Tanzania and Uganda so that they can gain access to regional export markets.

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FIVE local companies have received some 700,000 US dollars (about 1.4bn/-) from the Southern Agricultural Growth Corridor of Tanzania (SAGCOT)’s Catalytic Trust Fund to boost their activities meant to expand market for farm produce from small scale farmers.

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ZANZIBAR government in partnership with the Korean International Cooperation Agency (KOICA) and the Food and Agriculture Organisation of the United Nations (FAO) have launched a 3.2 million US dollars (about 7bn/-) aquaculture project that will run for three years.

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FINANCIAL institutions will get a platform to showcase their products and services during Tanzania Banker exhibition expected to be held in Dar es Salaam next month.

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HALF of young people aged 15-24 say they don’t have enough money to get them through the day, according to new research published in Dar es Salaam by media production company Well Told Story.

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YETU Microfinance has partnered with Greentek Group Company to introduce agro leasing product for changing small-scale farmers’ mindset from amateur to high technology farming practices in which more than 200 farmers are set to benefit.

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Deputy Minister for Agriculture, Livestock and Fisheries Development, Mr William Ole Nasha

Business

THE government is committed to sort out problem in the agricultural sector so as it unleashes its great potential in building the economy, a government minister has said.

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THE government has averted a possible power crisis in Dar es Salaam, by contracting the Tanzania International Petroleum Reserves Limited (TIPER) to store condensates from the Songosongo gas mines in its tanks.

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THE Commercial Bank of Africa (Tanzania) Limited has filed a suit before the High Court against Board Chairperson with Contractors Registration Board (CRB), Ms Consolata Ngimbwa, and four other defendants, demanding repayment of over 885m/- loan facility.

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BARCLAYS Bank opened a new state-of-the-art branch in Mwanza as it seeks to extend foothold in the mineral rich Lake Zone region.

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MOST of graduates from higher learning institutions move to Dar es Salaam to seek employment thereby increasing the unemployment rate for the commercial city, according to a new research.

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CRDB Managing Director Dr Charles Kimei

Business

CRDB Bank Managing Director, Dr Charles Kimei, recently received East Africa Life Time Achievement Award in banking sector, in recognition of more than 30 years of outstanding contribution to the banking and financial sector in Tanzania and the region. Dr Kimei, the first Tanzanian to win the award, was also named as a visionary leader who spearheaded remarkable turn around of CRDB Bank from a loss making entity to become the biggest bank in Tanzania and East Africa. Our Staff Writer ABDUEL ELINAZA interviewed him on the significance of the awards to the banking industry.

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THE Dar es Salaam Stock Exchange (DSE) has continued with a positive streak after posting a turnover of 18.55bn/- , equivalent to a 97 percent increase compared to 9.39 last week.

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PERFECT Infotech International Ltd Director for Business Development, Mr Ebenezer Msuya (left) chats with the Managing Director, Mr Amos Oyomba (right) and Manager IT and Client Support Dennis Omari during the launch of partnership with Maxcom Africa where they introduce payment model for computerised systems installed to manage and protect individual assets in Dar es Salaam yesterday. (Photo by Robert Okanda)

Business

PERFECT Infotech International Limited (PII) has partnered with Maxcom Africa to introduce payment model for the computerised systems installed to manage and protect individual property.

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Dar es Salaam Tanzania Partly Cloudy (day), 24 °C
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