It is reported that the African Development Bank (AfDB) and United States Agency for International Development (USAID), will extend 50% of the funding for the credit guarantee scheme to lend out USD 20million to Small and Medium Enterprises (SMEs) in Tanzania. The loans will be dished out in collaboration with CRDB.
This was revealed in a Memorandum of Understanding (MoU) signed between the three parties in Dar Es Salaam, yesterday.
For more information you can read The Guardian or The Citizen
Friday, September 5, 2008
Community Banks Association (CBA) comes of age
2008-09-05 09:28:05
By George Michael
An initiative launched three years ago by Tanzania Gatsby Trust to help launching of Community Banks Association (CBA) has now come of age.
CBA has so far conducted a number of useful training programs to more that 84 staff from member community banks for purposes of enhancing operational efficiency. More...
[SOURCE: THE GUARDIAN]
By George Michael
An initiative launched three years ago by Tanzania Gatsby Trust to help launching of Community Banks Association (CBA) has now come of age.
CBA has so far conducted a number of useful training programs to more that 84 staff from member community banks for purposes of enhancing operational efficiency. More...
[SOURCE: THE GUARDIAN]
Thursday, September 4, 2008
WORKSHOP: STRATEGIC BRAND MANAGEMENT
The Confederation of Tanzania Industries, CTI, is organizing a WORKSHOP IN STRATEGIC BRAND MANAGEMENT For further details please visit
http://issamichuzi.blogspot.com/2008/09/workshop-strategic-brand-management.html
Private tax collection system likely to reduce corrupt elements
2008-09-04 11:10:20
By Angel Navuri
Private tax collection is likely to reduce corruption at the collection point by offering mechanisms for penalising poor collectors, a recent study by Research on Poverty Alleviation (REPOA) has revealed.
According to the study, a private tax collector has in general a stronger personal interest in collection results and is prone to employ more effective mechanisms for penalising poor performance on the part of the collector. More...
[SOURCE: THE GUARDIAN]
What are your views on this? Will a private tax collection system be truly able reduce corruption which we all know exists plentifully in TRA? Or will this move just be another opportunity for 'Mafisadi' to make some extra cents? What have we been reduced to, as a country, if even something as vital as taxation has to be done by private agencies?
By Angel Navuri
Private tax collection is likely to reduce corruption at the collection point by offering mechanisms for penalising poor collectors, a recent study by Research on Poverty Alleviation (REPOA) has revealed.
According to the study, a private tax collector has in general a stronger personal interest in collection results and is prone to employ more effective mechanisms for penalising poor performance on the part of the collector. More...
[SOURCE: THE GUARDIAN]
What are your views on this? Will a private tax collection system be truly able reduce corruption which we all know exists plentifully in TRA? Or will this move just be another opportunity for 'Mafisadi' to make some extra cents? What have we been reduced to, as a country, if even something as vital as taxation has to be done by private agencies?
Push for regional share trading likely to shock BoT mandarins
By Miki Tasseni
Mandarins at the Bank of Tanzania (BoT) will start having jitters over the next few months as MPs start pushing for freedom of Tanzanians to buy shares in regional companies being floated on the stock exchange.
The matter came to a head in the Legislature as MPs debated estimates of the ministry of Finance and Economic Affairs, with veteran opposition leader John Cheyo in a bad mood about local investors being prevented from purchasing shares of Safaricom. More...
[SOURCE: THE CITIZEN]
Mandarins at the Bank of Tanzania (BoT) will start having jitters over the next few months as MPs start pushing for freedom of Tanzanians to buy shares in regional companies being floated on the stock exchange.
The matter came to a head in the Legislature as MPs debated estimates of the ministry of Finance and Economic Affairs, with veteran opposition leader John Cheyo in a bad mood about local investors being prevented from purchasing shares of Safaricom. More...
[SOURCE: THE CITIZEN]
Emerging markets offer concrete growth potential to Tanzania
2008-09-04 10:54:32
By Theo Mushi
Ten years ago, emerging markets were mugged in major crises. That followed their fantastic growth path which noticeably made global financial systems to feel the heat, especially during 1997-98.
Unfortunately, during those troubled years, those economies were labelled `emerging markets` coming as it were to characterise instability or at least some form of volatility.
It is believed that emerging markets are now a key determinant of global growth which is good news and also a potential problem. More...
[SOURCE: THE GUARDIAN]
By Theo Mushi
Ten years ago, emerging markets were mugged in major crises. That followed their fantastic growth path which noticeably made global financial systems to feel the heat, especially during 1997-98.
Unfortunately, during those troubled years, those economies were labelled `emerging markets` coming as it were to characterise instability or at least some form of volatility.
It is believed that emerging markets are now a key determinant of global growth which is good news and also a potential problem. More...
[SOURCE: THE GUARDIAN]
TIC boss says new centre to turn Dar into conference hub
2008-09-04 11:11:46
By Lusekelo Philemon
An ultra-modern conference centre currently under construction as part of the Mlimani City Project near the University of Dar es Salaam will help boost the tourist industry as well as improve the country`s socio-economic development, according to Tanzania Investment Center (TIC). More...
[SOURCE: THE GUARDIAN]
By Lusekelo Philemon
An ultra-modern conference centre currently under construction as part of the Mlimani City Project near the University of Dar es Salaam will help boost the tourist industry as well as improve the country`s socio-economic development, according to Tanzania Investment Center (TIC). More...
[SOURCE: THE GUARDIAN]
Tanga Cement shares sharply rally this week
2008-09-04 11:05:17
By Michael Mbiro
Tanga Cement shares which trade as `SIMBA` at the Dar es Salaam Stock Exchange (DSE) are selling like hotcake on since Tuesday, most recent data shows.
According to the DSE daily market report released Tuesday, bidders were ready to buy SIMBA shares at prices ranging from 1,600/- to 1,800/-. A total of 44,300 shares were offered Tuesday. More...
[SOURCE: THE GUARDIAN]
By Michael Mbiro
Tanga Cement shares which trade as `SIMBA` at the Dar es Salaam Stock Exchange (DSE) are selling like hotcake on since Tuesday, most recent data shows.
According to the DSE daily market report released Tuesday, bidders were ready to buy SIMBA shares at prices ranging from 1,600/- to 1,800/-. A total of 44,300 shares were offered Tuesday. More...
[SOURCE: THE GUARDIAN]
Investors in TCC to pocket 175/- in gross bonuses
2008-09-04 11:03:40
By Michael Mbiro
Investors in Tanzania Cigarette Company (TCC) will soon earn 175/- in gross bonuses for every single share invested in the company.
TCC's board of directors has so decided following company's imposing financial performance during the first half of this year which ended last June. More...
[SOURCE: THE GUARDIAN]
By Michael Mbiro
Investors in Tanzania Cigarette Company (TCC) will soon earn 175/- in gross bonuses for every single share invested in the company.
TCC's board of directors has so decided following company's imposing financial performance during the first half of this year which ended last June. More...
[SOURCE: THE GUARDIAN]
Wednesday, September 3, 2008
Body to support investors
By The Citizen Correspondent
The Tanzania Professionals Network (TPN) will launch a facility to provide funds for its 1,000 members for investments.
TPN president Sanctus Mtsimbe told an annual general meeting in Dar es Salaam that the TPN Empowerment Fund would raise its core capital by selling shares to the public. More...
[SOURCE: THE CITIZEN]
The Tanzania Professionals Network (TPN) will launch a facility to provide funds for its 1,000 members for investments.
TPN president Sanctus Mtsimbe told an annual general meeting in Dar es Salaam that the TPN Empowerment Fund would raise its core capital by selling shares to the public. More...
[SOURCE: THE CITIZEN]
Deposits at Azania Bank getting bigger, and bigger
2008-09-03 09:44:05
By Guardian Reporter
Deposits at the Azania Bank Limited are getting higher by the day, giving the bank reason to increase number of branches upcountry, most recent financial results show.
While deposits have grown by 23 percent from 3bn/- to 68.5bn/- over last eight years, bank`s capital has shot up from 708.7m/- in 2000 to 7.8bn/- over same period under review. More...
[SOURCE: THE GUARDIAN]
By Guardian Reporter
Deposits at the Azania Bank Limited are getting higher by the day, giving the bank reason to increase number of branches upcountry, most recent financial results show.
While deposits have grown by 23 percent from 3bn/- to 68.5bn/- over last eight years, bank`s capital has shot up from 708.7m/- in 2000 to 7.8bn/- over same period under review. More...
[SOURCE: THE GUARDIAN]
TCAA to hire 15 air traffic controllers
By Bethuel Kinyori
The Tanzania Civil Aviation Authority (TCAA) will recruit 15 air traffic controllers this month.It is part of a drive to address the authority's personnel requirements.
TCAA public relations officer Abel Ngapemba told The Citizen in Dar es Salaam that the recruitment would partly be aimed at preparing the new employees to replace those nearing retirement.After the recruitment, the successful candidates will undergo training for two and a half years. More...
[SOURCE: THE CITIZEN]
The Tanzania Civil Aviation Authority (TCAA) will recruit 15 air traffic controllers this month.It is part of a drive to address the authority's personnel requirements.
TCAA public relations officer Abel Ngapemba told The Citizen in Dar es Salaam that the recruitment would partly be aimed at preparing the new employees to replace those nearing retirement.After the recruitment, the successful candidates will undergo training for two and a half years. More...
[SOURCE: THE CITIZEN]
Precision Air slashes business class fares by 12%
2008-09-03 09:43:10
By Edwin Agola
Domestic airline Precision Air has introduced a special business class fare for the Dar es Salaam to Mwanza route with effect from end of last month. More...
[SOURCE: THE GUARDIAN]
By Edwin Agola
Domestic airline Precision Air has introduced a special business class fare for the Dar es Salaam to Mwanza route with effect from end of last month. More...
[SOURCE: THE GUARDIAN]
World forum set to unveil crucial report
By The Citizen Reporter
The World Economic Forum (WEF) will next month launch this year's annual Global Competitiveness Report (GCR).
The document is a benchmarking tool that examines factors enabling national economies to achieve sustained growth and long-term prosperity.The Geneva-based organisation said yesterday in a statement that the report, which bases its assessment on the Global Competitiveness Index (GCI), will be released on October 8 in Geneva. More...
[SOURCE: THE CITIZEN]
The World Economic Forum (WEF) will next month launch this year's annual Global Competitiveness Report (GCR).
The document is a benchmarking tool that examines factors enabling national economies to achieve sustained growth and long-term prosperity.The Geneva-based organisation said yesterday in a statement that the report, which bases its assessment on the Global Competitiveness Index (GCI), will be released on October 8 in Geneva. More...
[SOURCE: THE CITIZEN]
Aid delivery mode faulted
By Njeri Rugene, Citizen Correspondent, Accra
Recipients of foreign funding meeting here want donors to change the delivery mode of their aid if its development impact is to be felt by countries.
The participants in the meeting, dubbed the Third High Level Forum on Aid Effectiveness were united that progress had been slow and management and delivery of foreign funding was still as cumbersome and effective as it more than three years ago. More...
[SOURCE: THE CITIZEN]
In a related story, The Guardian writes from Ghana about Slow progress on development aid improvements
Recipients of foreign funding meeting here want donors to change the delivery mode of their aid if its development impact is to be felt by countries.
The participants in the meeting, dubbed the Third High Level Forum on Aid Effectiveness were united that progress had been slow and management and delivery of foreign funding was still as cumbersome and effective as it more than three years ago. More...
[SOURCE: THE CITIZEN]
In a related story, The Guardian writes from Ghana about Slow progress on development aid improvements
You can build your dream home one brick at a time
I came across a very interesting article by Tony Zakaria from the Daily news, titled You can build your dream home one brick at a time. I have to admit, the article is well-thought and excellently worded. It is a must-read
What are your views on this article?
What are your views on this article?
Tuesday, September 2, 2008
New Layout
Dear Forum members,
We have recently changed the layout of our page. Extensive tests have been done to guarantee that the display on Firefox and IE is perfect. Tests on other browsers will soon follow, however, we do not anticipate any problems. Kindly report any glitches on the new page to the administrator
We kindly welcome feedback on how you like the new layout in comparison to the previous one.
We have recently changed the layout of our page. Extensive tests have been done to guarantee that the display on Firefox and IE is perfect. Tests on other browsers will soon follow, however, we do not anticipate any problems. Kindly report any glitches on the new page to the administrator
We kindly welcome feedback on how you like the new layout in comparison to the previous one.
Qatar Airways consolidates its Dar business hub
2008-09-02 10:57:32
By Perege Gumbo
Qatar Airways has strengthened its centre of business operations in Dar es Salaam by establishing a new posh and permanent office valued at 300m/- located downtown.
The move is no surprise as airlines are increasing their seat capacity to Tanzania, now that tourism has become the country`s largest revenue sector, outstripping even agriculture. More...
[SOURCE: THE GUARDIAN]
By Perege Gumbo
Qatar Airways has strengthened its centre of business operations in Dar es Salaam by establishing a new posh and permanent office valued at 300m/- located downtown.
The move is no surprise as airlines are increasing their seat capacity to Tanzania, now that tourism has become the country`s largest revenue sector, outstripping even agriculture. More...
[SOURCE: THE GUARDIAN]
Monday, September 1, 2008
Kikwete: Abject poverty looms despite good economic growth
DANIEL SEMBERYA AND
ELIAS MHEGERA
PRESIDENT Jakaya Kikwete yesterday declared that the
country still faced the challenge of promoting economic growth
to reduce surging poverty levels that were still prevalent despite
the impressive growth rates achieved so far.
In his address to the nation through the Parliament, the
President addressed several key areas that covered the state of
the economy, Union matters, the issue of Muafaka, corruption,
leadership code, judiciary, and women integration in the
political process. He said some of the challenges to economic
growth were due to natural catastrophes and shortages that
were not anticipated before. “The noise that the public
is making about increased costs of living is not out of the blue,
it is justifiable,” said President Kikwete, who acknowledged
the difficult economic and social conditions people were now
facing. He outlined the factors that had led to these conditions
as including the energy crisis that had brought about sharp
increases of oil prices and the 2006 drought that hit the
country hard, leading to scarcity of electricity. The President
also hinted at other economic challenges like global inflation,
which, he said, had been on the increase since the fourth phase
government came to power. More...
[SOURCE: BUSINESSTIMES]
TOL Gases profit doubles
 |
| TOL?Gases managing director Arnold Kilewo addresses the TOL meeting yesterday in Dar es Salaam. Left is chairman Michael Shirima. |
TOL Gases Limited pre-tax profit increased by more than 100 per cent to Sh292 million last year from Sh102 million recorded in 2006, managing director Arnold Kilewo announced yesterday.
Addressing the company's annual general meeting he said the superb performance was a result of ongoing consolidation at the company. This is the third year in a row TOL Gases registers a profit, although shareholders will continue to wait until the company cash flow is rejuvenated, he stated. More...
[SOURCE: THE CITIZEN]
A related story from THE CITIZEN states that there has been No dividends for TOL Gases in ten years
Businesses directing gaze to EAC market
By The Citizen Reporter
A delegation of local businessmen will early next month embark on a regional tour that seeks to facilitate cross-border trade, investment partnerships and exploring business opportunities in the four East African Community partner states.
About 100 businesspersons will take part in the tour covering Kenya, Uganda, Rwanda and Burundi. The 10-day business expedition will commence on September 7, coordinators of the trip said yesterday.
Dr Evans Rweikiza, the managing director of the Tanzania Private Sector Foundation (TPSF), the organizers of the tour, told reporters in Dar es Salaam that the tour is part of preparations for the EAC common market. More...
[SOURCE: THE CITIZEN]
A delegation of local businessmen will early next month embark on a regional tour that seeks to facilitate cross-border trade, investment partnerships and exploring business opportunities in the four East African Community partner states.
About 100 businesspersons will take part in the tour covering Kenya, Uganda, Rwanda and Burundi. The 10-day business expedition will commence on September 7, coordinators of the trip said yesterday.
Dr Evans Rweikiza, the managing director of the Tanzania Private Sector Foundation (TPSF), the organizers of the tour, told reporters in Dar es Salaam that the tour is part of preparations for the EAC common market. More...
[SOURCE: THE CITIZEN]
Market regulator issues alert over unlicensed brokers
Trading at the Dar es Salaam Stock Exchange. Photo/FILE
By JOSEPH MWAMUNYANGE
As Tanzanians get down to buying shares of the National Microfinace Bank, the regulator — the Capital Markets and Securities Authority — has sent an alert over unlicensed brokers.
According to the market regulator’s chief executive Dr Fratern M. Mboya, “the public should be cautious of advertisements inviting them to buy NMB shares through a company called C.V. Securities and an individual known as C.V.Okhal. More...
[SOURCE: The EastAfrican]
Dar to seek sovereign debt rating
The Dar es Salaam-Morogoro road. Financing development projects through sovereign bond issues will assist Tanzania expand its fiscal space. Photo/FILE
By STAFF WRITER
Tanzania will soon seek a sovereign debt rating to enable it issue a sovereign bond in the international marketplace.
The Tanzanian government appears convinced that borrowing money from international markets through a sovereign bond is a better way of raising money than having to resort to heavy domestic borrowing.
Two months ago, Finance Minister Mustafa Mkulo presented to the National Assembly a budget that did not factor in domestic borrowing. More...
[SOURCE: The EastAfrican]
BoT to issue new rules to check MFIs
Bank of Tanzania headquarters in Dar es Salaam. Some lenders charge up to 200 per cent of the principal amount. Photo/FILE
By WILFRED EDWIN
The Bank of Tanzania is formulating a mechanism to regulate non-banking microfinance institutions, Bank Governor Prof Benno Ndulu has said.
The new regulations are aimed at checking on the mushrooming of such institutions that exploit investors, particularly the ignorant lot.
[SOURCE: The EastAfrican]
East African Payment System in the offing
DANIEL SEMBERYA
THE East African Payment System (EAPS) is expected to
go on stream in December this year, after the central banks
of the three founder member countries of the East African
Community – Kenya, Uganda and Tanzania – had fulfilled
all the prerequisites thereof.
Among the other things achieved by the three central
banks are the implementation of a Real Time Gross
Settlement System (RTGS) using common specifications,
and collateralization of central banks lending to commercial
banks. More...
[SOURCE: BUSINESS TIMES]
THE East African Payment System (EAPS) is expected to
go on stream in December this year, after the central banks
of the three founder member countries of the East African
Community – Kenya, Uganda and Tanzania – had fulfilled
all the prerequisites thereof.
Among the other things achieved by the three central
banks are the implementation of a Real Time Gross
Settlement System (RTGS) using common specifications,
and collateralization of central banks lending to commercial
banks. More...
[SOURCE: BUSINESS TIMES]
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