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]
Showing posts with label Banks. Show all posts
Showing posts with label Banks. Show all posts
Monday, September 1, 2008
Thursday, August 28, 2008
5 new banks set to open by mid-2009
Following the success of Community Banks in Tanzania, 5 new community banks a set to open within a year's time. Currently, there are 7 community banks in operation in Tanzania, namely, Dar Es Salaam Community Bank, Kilimanjaro Cooperative Bank, Mbiga Community Bank, Mwanga Rural Community Bank, Mufindi Community Bank, Kagera Farmers Cooperative Bank and Uchumi Community Bank.
I got a chance to do some business with some of the banks when I was at UTT. And I was really impressed!
The following story is from The Citizen
By Bethuel Kinyori
Five more community banks (CBs) are set to open countrywide by mid next year, the banks' association has revealed.
Community Banks Association (CBA) board chairman Abby Ghuhia said the new banks include the Tandahimba Community Bank in Mtwara region whose operations will commence in December this year.
Others, but still at the funding stage, are the Meru Community Bank in Arusha, Morogoro Community Bank, Singida Yetu Community Bank and Njombe Community Bank.
Mr Ghuhia, who is also the managing director of Mwanga Community Bank, was speaking at the association's annual general meeting last Friday. More...
I got a chance to do some business with some of the banks when I was at UTT. And I was really impressed!
The following story is from The Citizen
 |
| Help Age International development policy analysis, lobby and advocacy programme director Nicodemus Chiphupa speaks at the 3rd Social Protection and Insurance Workshop in Dar es Salaam yesterday. |
Five more community banks (CBs) are set to open countrywide by mid next year, the banks' association has revealed.
Community Banks Association (CBA) board chairman Abby Ghuhia said the new banks include the Tandahimba Community Bank in Mtwara region whose operations will commence in December this year.
Others, but still at the funding stage, are the Meru Community Bank in Arusha, Morogoro Community Bank, Singida Yetu Community Bank and Njombe Community Bank.
Mr Ghuhia, who is also the managing director of Mwanga Community Bank, was speaking at the association's annual general meeting last Friday. More...
Tuesday, August 19, 2008
Sale of NMB shares starts
2008-08-19 10:08:06
By Lydia Shekighenda
The government yesterday began the sale of 21 per cent out of its 51 per cent shares in the National Microfinance Bank (NMB). Some of the offered shares will go to NMB employees.
Director General of Consolidated Holding Corporation (CHC) Edwina Lupembe made the announcement in Dar es Salaam yesterday.
More...
A related story from just under a week ago can be found here: Govt assures NMB staff on 5 per cent share sale. Another story from the Daily news Can be found here: NMB Bank shares go on sale
[SOURCE: THE GUARDIAN]
By Lydia Shekighenda
The government yesterday began the sale of 21 per cent out of its 51 per cent shares in the National Microfinance Bank (NMB). Some of the offered shares will go to NMB employees.
Director General of Consolidated Holding Corporation (CHC) Edwina Lupembe made the announcement in Dar es Salaam yesterday.
More...
A related story from just under a week ago can be found here: Govt assures NMB staff on 5 per cent share sale. Another story from the Daily news Can be found here: NMB Bank shares go on sale
[SOURCE: THE GUARDIAN]
Saturday, August 16, 2008
CRDB Bank enlists for global trading technology platforms
2008-08-16 10:14:25
By Perege Gumbo
The CRDB Bank PLC will spend about USD 4million (about 4.2bn/-) to procure state-of-the-art technology geared at improving efficiency of its services to customers.
A contract with prospective technology provider Misys PLC Company was signed on Thursday and it will provide CRDB Bank with Misys BankFusion Universal Banking software.
More...
[SOURCE:
THE GUARDIAN]
By Perege Gumbo
The CRDB Bank PLC will spend about USD 4million (about 4.2bn/-) to procure state-of-the-art technology geared at improving efficiency of its services to customers.
A contract with prospective technology provider Misys PLC Company was signed on Thursday and it will provide CRDB Bank with Misys BankFusion Universal Banking software.
More...
[SOURCE:
THE GUARDIAN]
Thursday, August 14, 2008
Com banks in dramatic credit shift to private sector
2008-08-14 10:42:19
By Beatrice Philemon
Commercial banks credit to the private sector has maintained high annual growth rate above 40 percent mark over the past seven months, according to latest data released by the Bank of Tanzania (BoT).
The trend is attributed to narrowed lending options for commercial banks since the government distanced itself from fiscal reliance on banks` financing through debt securities such as Treasury Bills and Bonds from last financial year.
More...
[SOURCE: THE GUARDIAN]
By Beatrice Philemon
Commercial banks credit to the private sector has maintained high annual growth rate above 40 percent mark over the past seven months, according to latest data released by the Bank of Tanzania (BoT).
The trend is attributed to narrowed lending options for commercial banks since the government distanced itself from fiscal reliance on banks` financing through debt securities such as Treasury Bills and Bonds from last financial year.
More...
[SOURCE: THE GUARDIAN]
Strive for interest, bank tells clients
 |
| Barclays Bank customer Ayoub Lubanza (centre) picks one of the winners of the "Bomba and Wajasiriamali" promotion draw in Dar es Salaam yesterday. Looking on are Barclays Bank product manager Andrew Lyimo (left) and Gaming Board Tanzania inspector Mrisho Millao. |
The public has been urged to adopt the culture of keeping money for a longer time in banks to earn interest as well as utilize the fixed deposit facilities offered to later sustain their living requirements.
Speaking in Dar es Salaam yesterday, Barclays Bank Tanzania deposit/liability manager William Mungai said many bank customers do not deposit their money for the required periods to allow them earn interest income.
More...
[SOURCETHE CITIZEN]
Wednesday, August 13, 2008
Bank goes for speed with online transaction facility
 |
| Citibank e-commerce expert for Sub-Sahara Africa Anuja Pandit addresses a breakfast meeting yesterday in Dar es Salaam. |
The secret behind Citibank's success lies in constantly focusing on technology breakthrough in banking transactions, it has been stated.
Citibank (T) managing director Omar Hafeez says that this is meant to get the customers and the bank reduce the time of initiation and improve the speed of execution of the transaction.
Speaking at a presentation of the bank�s online treasury interactive trading yesterday, Mr Hafeez said e-commerce is currently inevitable and was considered a vital part of a bank�s service strategy.
More...
[SOURCE:THE CITIZEN]
Monday, August 11, 2008
Profits shoot up 60% as banks cash in from loans
By Damas Kanyabwoya
Banks have enjoyed a boom marked by a significant increase in pre and after tax profits, which have increased by 60 per cent, according to new figures.
The growth has been due to, among other things, increased lending following the government�s substantial reduction in public borrowing through Treasury bills and bonds.
According to the Tanzania Banking Sector 2007 Performance Review conducted by Ernst & Young, interest earnings accounted for over 70 per cent of total income of banks in the country last year.
The review shows that Citibank recorded the highest interest income among commercial banks with 86 per cent of its total profit coming from interest rates. Dar es Salaam Community Bank was highest among the non-commercial banks with 92 per cent.
However, in terms of monetary value the National Microfinance Bank (NMB) earned more interest income than any other bank during the year.
Read More...
[SOURCE: THE CITIZEN]
Banks have enjoyed a boom marked by a significant increase in pre and after tax profits, which have increased by 60 per cent, according to new figures.
The growth has been due to, among other things, increased lending following the government�s substantial reduction in public borrowing through Treasury bills and bonds.
According to the Tanzania Banking Sector 2007 Performance Review conducted by Ernst & Young, interest earnings accounted for over 70 per cent of total income of banks in the country last year.
The review shows that Citibank recorded the highest interest income among commercial banks with 86 per cent of its total profit coming from interest rates. Dar es Salaam Community Bank was highest among the non-commercial banks with 92 per cent.
However, in terms of monetary value the National Microfinance Bank (NMB) earned more interest income than any other bank during the year.
Read More...
[SOURCE: THE CITIZEN]
Wednesday, August 6, 2008
Dar es salaam bank IPO oversubcribed by 350%
Ok, I know this story is a few weeks old, but frankly it just came to my attention, I missed it before. Anyway, I thought it might be worth sharing it with the rest of the forum
---------------------------------------------------------------------------------------
By Mnaku Mbani
The initial public offering (IPO) of the Dar es Salaam Community Bank (DCB) has been oversubscribed by more than 350 per cent.
However, it is unlikely that shareholders who bought shares during the IPO will be refunded.
DCB board chairman Paul Rupia said Sh5.2 billion was recorded from the offer to the public between early last month and last week.
DCB wanted to raise Sh1.5 billion to implement its five-year strategic plan (2007-2011).
More...
[SOURCE: THE CITIZEN]
---------------------------------------------------------------------------------------
By Mnaku Mbani
The initial public offering (IPO) of the Dar es Salaam Community Bank (DCB) has been oversubscribed by more than 350 per cent.
However, it is unlikely that shareholders who bought shares during the IPO will be refunded.
DCB board chairman Paul Rupia said Sh5.2 billion was recorded from the offer to the public between early last month and last week.
DCB wanted to raise Sh1.5 billion to implement its five-year strategic plan (2007-2011).
More...
[SOURCE: THE CITIZEN]
Saturday, August 2, 2008
NMB IPO
Dear Forum Memmbers and fellow Tanzanians,
Some of you may already know this, but most Tanzanians don't. The Government is planning to sell 21% of the 51% of the NMB shares it holds. The Initial Public Offering, IPO is expected to take off before September 2008.
Currently, the shareholder profile for NMB is:
(Source, NMB Website)
For more information read http://www.ippmedia.com/ipp/guardian/2008/05/26/115169.html.
Only Tanzanian citizens and Tanzanian owned institutions are allowed to bid for shares during the IPO. The aim is to enable Tanzania to take ownership of private companies that were previously stated owned. Once the stock gets listed on the DSE then it is fair game for everyone.
It is sad that most Tanzanians are still in the limbo in regards to the NMB shares. THe NMB IPO has been talked about for a while, but it was not common knowledge to most Tanzanians; even those working in the financial sector, while our neighbors in Kenya were already talking about obtaining these shares as early as May, 2007. Just read
It is high time Tanzanians became more informed about such important things in our country's development and economy, and show we can compete in the EAC. Our Kenyan friends have even gone as far as mocking us and accuse us of xenophobia because of the restrictions imposed on the IPO. So let us make full use of this opportunity; disseminate this information widely!!
Some of you may already know this, but most Tanzanians don't. The Government is planning to sell 21% of the 51% of the NMB shares it holds. The Initial Public Offering, IPO is expected to take off before September 2008.
Currently, the shareholder profile for NMB is:
- The Government of the United Republic of Tanzania 51.0%
- RABO Bank 34.9%
- National Investment Company Limited (NICO) 6.6%
- Exim Bank Tanzania 5.8%
- Tanzania Chambers of Commerce Industries and Agriculture (TCCIA) 1.7%
(Source, NMB Website)
For more information read http://www.ippmedia.com/ipp/guardian/2008/05/26/115169.html.
Only Tanzanian citizens and Tanzanian owned institutions are allowed to bid for shares during the IPO. The aim is to enable Tanzania to take ownership of private companies that were previously stated owned. Once the stock gets listed on the DSE then it is fair game for everyone.
It is sad that most Tanzanians are still in the limbo in regards to the NMB shares. THe NMB IPO has been talked about for a while, but it was not common knowledge to most Tanzanians; even those working in the financial sector, while our neighbors in Kenya were already talking about obtaining these shares as early as May, 2007. Just read
It is high time Tanzanians became more informed about such important things in our country's development and economy, and show we can compete in the EAC. Our Kenyan friends have even gone as far as mocking us and accuse us of xenophobia because of the restrictions imposed on the IPO. So let us make full use of this opportunity; disseminate this information widely!!
Subscribe to:
Posts (Atom)
Posts
