Treasury Bills Auction Summary - 17/9/2008

Treasury Bond Auction Summary - 10/9/2008

Sacked BoT officials set for court battle

By Bernard James

The Bank of Tanzania (BoT) could face legal suits running into billions of shillings over the External Payments Arrears (EPA) scandal, The Citizen can reveal.

Senior BoT officials sacked this year over the embezzlement of Sh133 billion from the bank's EPA account are challenging their dismissal.
They were removed from their posts over irregular payments to 22 companies in what has turned out to be a major scandal that has rocked President Jakaya Kikwete's government. Five top officials have been affected in the purge. More...


[SOURCE: THE CITIZEN]

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]

Treasury Bill Auction Summary - 3/9/2008

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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]

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]

$25m properties nabbed over BoT fraud

The Bank of Tanzania headquarters in Dar es Salaam. Photo/FILE

By MIKE MANDE, JOSEPH MWAMUNYANGE and WILFRED EDWINPosted Saturday, August 23 2008 at 08:15

The Tanzanian government has confiscated property worth more than $25 million from 13 firms in a massive crackdown against people involved in the multimillion EPA scandal.

The seized assets include four brand new Range Rover Vogue Supercharger 2006 Model cars — each valued at $136,916 — with a total value of $547,664 and four Mercedez Benz CLK 230 Kompressor Model cars — each valued at $28,139 — with a total value of $112,556. More...

[SOURCE: The EastAfrican]

Probe interest rates, say MPs

By Bernard James, Dodoma

Members of Parliament have once again hit out at private money lending companies over high interest rates and urged investigations by the Bank of Tanzania (BoT).

Mbozi West legislator Godfrey Nzambi, who recently took a swipe at Bayport Financial Services, yesterday accused the mushrooming money lenders of milking civil servants. More...


[SOURCE: THE CITIZEN]

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It is nice to see our MPs take a stance on soaring interest rates. What are your views on MP Nzambi's comments? Do you agree with BoT probing private Banks and Non-Banking Financial Institutions, or do you think the market should be let free to regulate itself? In your opinion, how can Tanzania control these rising interest rates? What role should the Government; BoT; Private Banks; NBFIs play?

Treasury Bills Auction Summary - 20/Aug/2008

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Treasury Bonds Auction Summary - 13/8/2008

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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]

Economy registers mixed fiscal, monetary and external trade signals

2008-08-13 09:30:35
By Beatrice Philemon

Government revenues from its major taxation bases are steadily burgeoning, according to recent data released by the Bank of Tanzania (BoT).

The BoT, which is officially authorised to keep government`s cash and records, in June published a report showing that total revenue collected by the government in May reached 288.5bn against the target of 273.bn/-.

Taxes alone contributed shillings 267.8bn/- above the pre-set target by 8.2 percent.

However, collection of non-tax revenue was below target by 21.5 percent.

More...


[SOURCE: THE GUARDIAN]

Treasury Bills Auction Summary - 6/Aug/2008

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Treasury Bills Auction Summary - 23/Jul/2008

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