Trading of DCB shares starts next week

Dailynews Reporter
Daily News; Friday,September 12, 2008 @08:01

TRADING of shares of the Dar es Salaam Community Bank (DCB) at the Dar es Salaam Stock Exchange (DSE) will begin next Tuesday, it was announced yesterday.

The Chairman of DCB Board of Directors, Mr Paul Rupia, said those wishing to sell their shares would be free to do so on Tuesday.

He said that following the oversubscription of the firm’s initial public offer (IPO), the Bank of Tanzania (BoT) on August 28, granted it approval of its revised business plan.

He said: “Under the revised plan the bank (DCB) will retain 5.2bn/-, the whole amount that was raised during the IPO.

“The amount exceeded what was earlier provided in the prospectus.” More...


[SOURCE: DAILY NEWS]

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]

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

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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.

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...

Heavily oversubscribed DCB shelves listing at Dar bourse

2008-08-19 09:45:36
By Mgeta Mganga

The Dar es Salaam Community Bank (DCB) has put on hold the much expected official listing of its public shares on the Dar es Salaam Stock Exchange (DSE) as management finds space to sort out profoundly oversubscribed Initial Public Offer (IPO).

The IPO, which closed on 28th June this year, resulted in an unprecedented oversubscription to a percentage figure which came to be more than double the amount of capital DCB had wanted to raise.

More...


[SOURCE: THE GUARDIAN]

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
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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]