World Bank headquarters
The World Bank's Board of Executive Directors have approved $ 213 million to support the Government of Tanzania’s efforts to rehabilitate roads and Improve HIV/AIDs health services and road safety services to people along the Dar es Salaam Corridor.
“Well-functioning access to the maritime ports of Tanzania and Mozambique is essential for trade movement and economic prosperity, especially for the landlocked countries in the region (Zambia, Malawi and the DRC),” said World Bank Director of Strategy, Operations and Regional Integration in the Africa Region, Colin Bruce.
He added that this project will improve intra trade among the countries in Eastern and Southern Africa, but will also smooth the way for increased global competitiveness, market integration and poverty reduction for the countries in the region.
The new financing package consists of a $ 210 million credit and $ 3 million grant from the International Development Association (IDA), the Bank’s fund for the world’s poorest countries.
The financing will support the First Phase of the Southern Africa Trade and Transport Facilitation Program (SATTFP), a regional multi-sector program designed to facilitate trade integration in Eastern and Southern Africa by supporting institutional, social and physical improvements along the North-South Corridor (NSC), which extends some 3,900 km from Dar es Salaam in Tanzania to Durban in South Africa. Within the SATTFP framework, each country will sequentially design and implement suitable interventions.
“Transport costs along the corridor are some of the highest in the world, requiring almost seven days for the 2,000 km trip by road from Dar es Salaam port to Lusaka in Zambia,” said World Bank Country Director for Tanzania, Philippe Dongier. “This funding will help to refurbish Tanzania’s most significantly trade route and provide much needed assistance to improve efficiency at border crossings.”
To help speed border crossings, the project supports the establishment of a One-Stop Border Post on the Songwe-Kasumulu border crossing with Malawi, one at Vigwaza, and two others at locations to be determined. The project will also boost Tanzania’s efforts to provide road safety and HIV/AIDS and health services.
“While the incidence of HIV among adults in Tanzania has declined slightly from an estimated 7.1 percent in 2001 to 5.6 percent in 2009, there is still an acute need for improved HIV mitigation activities along the Dar es Salaam Corridor,” said World Bank Task Team Leader, Richard Martin Humphreys. “The project will help to improve health services and safety education to address the significant HIV risk brought by transient workers.”
The World Bank’s International Development Association (IDA), established in 1960, helps the world’s poorest countries by providing loans (“credits”) and grants for projects and programs that boost economy growth, reduce poverty, and improve people’s lives.
IDA is one of the largest sources of assistance for the world’s 81 poorest countries, 39 of which are in Africa. Resources from IDA bring positive change for 2.5 billion people living on less than $ 2 a day. Since 1960, IDA has supported development work in 108 countries. Annual commitments have increased steadily and averaged about $ 15 billion over the last three years, with about 50 percent of commitments going to Africa.
Finland Ambassador to Tanania, Ms. Sinikka Antila, shakes hands with Vodacom Tanzania Business Development officer, Mr. Nixon Bonaventure, during the official launch of cooperation between Vodacom, Finland government and Sibenonke Ltd. Looking on is Finland's Minister for European Affairs and Foreign Trade, Alexander Stubb (Centre), Finland’s Minister for International Development ,Heid Hautala (second from left) and Uwe Schwarz, CEO of Sibesonke Ltd.
Finland's Minister for European Affairs and Foreign Trade, Alexander Stubb, has revealed that his country is ready to work with Tanzanian farmers through education and information sharing to support farming activities in the country.
"We have worked with Tanzania in various projects before. We are excited to continue with our relationship by launching this partnership which we believe will be of great importance to the agricultural sector of this nation," Mr. Stubb said in Dar es Salaam during the launch of the partnership between Finland government, Sibesonke Ltd and mobile service provider, Vodacom Tanzania.
He said, "Agriculture forms the backbone of this country and we would like to address all the challenges experienced in the sector in order to move it to the next level. This can be achieved through disseminating information to the farmers through affordable and accessible means like the mobile phone."
On his part, Finland's Minister for International Development, Heidi Hautala, urged farmers to make well use of this opportunity to not only develop the country, but also themselves.
"We acknowledge the government's efforts to support farmers and the agricultural sector. With this new partnership, we believe that it will be instrumental in developing this country. I urge all farmers to take up this new opportunity and make well use of it for their own good and the development of this country," said Mr. Hautala.
Vodacom Tanzania is constantly seeking for new best practice, state-of-the-art mobile services for the benefit of its nation-wide subscriber space. "We are very happy and enthusiastic of our cooperation with Sibesonke Ltd", says Kelvin Twissa, Head of Brand and Communication at Vodacom Tanzania.
"Agricultural development is critical to the economy of this nation, and disseminating information to farmers through mobile phones will go a long way in supporting the sector. We urge everyone to make well use of this new technological development in order to take agriculture, and also this nation, to the next level," he explained.
For Sibesonke Ltd, the cooperation with Vodacom Tanzania is a major step in expanding the coverage of its innovative and patented platform in East Africa. Life improving content on a social network for basic phones has not been seen earlier in emerging markets.
"We are very excited about the partnership with Vodacom in Tanzania", says Uwe Schwarz, CEO of Sibesonke Ltd. "By efficiently serving under-served farmers across Tanzania, we believe we can make a strong difference in farming productivity thus contributing even to the region's food security. Our cost-effective solution for a massive market need presents a good and healthy business relevant for emerging countries across the globe."
Sibesonke Ltd was established in 2009 in Finland as a spin-off from Nokia Siemens Networks, and is the provider of its award winning and patented USSD-platform allowing implementation of mobile interactive social networks supporting even the cheapest mobile handsets. USSD is a text-based browsing technology implemented by standard requirements in every GSM phone.
Tanga Regional Commissioner, Ms. Chiku Galawa, opening a one day seminar for Islamic women entrepreneurs in Tanga Region. The seminar was organized by NBC Bank. Looking on is NBC Head of Islamic Banking, Yassir Masoud (Right), and Operation Manager NBC Tanga branch, Kibibi Said Kibao (Left).
NBC Limited through its customer banking services that operates under Islamic financial principles is planning to introduce credit services for employees called, ‘Islamic Finance Group’ before September this year.
“The aim for the launch of the service is to provide opportunities for lending to other customers who want to be served in accordance with the Islamic principles. Head of Islamic Banking for NBC, Yassir Masoud, said during a one-day seminar for Islamic women entrepreneurs in Tanga.
Masoud told the women who attended the seminar that in order to get rid of the economic hardship, they need to learn the business tricks, stressing that even Islamic doctrine provides instructions on livelihoods.
“Islam has encouraged investment matters, Islam encourages scriptures issues saying that making a living is equivalent to seeking the bounty of Allah,” he said.
Opening the seminar, the Tanga Regional Commissioner, Chiku Galawa, has urged women in the region to commit themselves in entrepreneurship so as to support the government's efforts in bringing development of the region.
She further said that through the seminar, NBC has opened a promising new way for women in Tanga, through which other organizations should follow.
“NBC is one of the oldest banks with a wider network than any other banks in the country and has been at the forefront in collaboration with various people in improving the lives of people,” she said.
In recent days, NBC has been investing more in educating the public, especially entrepreneurs through various seminars and workshops in collaboration with various firms.
Last year, NBC organized a meeting for small-scale entrepreneurs in Dar es Salaam in collaboration with an NGO that works with young people, YES.
NBC is also a sponsor of the Top 100 Midsize Companies Survey which is run in partnership with KPMG, searching and award midsize companies growing rapidly.
Rene Meza, Vodacom Tanzania Managing Director (First Left)
Since Vodafone Foundation partnered with the Comprehensive Community Based Rehabilitation hospital in Tanzania (CCBRT) in a major public campaign against women suffering from obstetric fistula, more than 1365 women have been treated countrywide. Over Tshs 8 billion has also been raised by Vodacom Tanzania and CCBRT with the aim of enabling women suffering from fistula to access free treatment.
This amount, according to Vodacom Tanzania Managing Director, Rene Meza, is meant to give access to medication to women from across the country. Using the M-Pesa service, CCBRT have been able to offer transport and treatment services to fistula victims from their homes to the hospital where they received corrective surgery for obstetric fistula.
Through M-Pesa, the number of patients treated for obstetric fistula at CCBRT rose from 168 surgeries in 2009 to 338 surgeries in 2011, an increase of over 100% in two years.
“Over 3,000 women suffer obstetric fistula annually due to long or obstructed labor,” says Erin Teleman, CCBRT Chief Executive Officer, adding that “Our plan is make sure we reduce this number as much as we can in order to restore these women’s self esteem. So far, we have done a great job but I believe we can still do more. We have recruited an ambassadorial network that runs throughout Tanzania helping to find and refer women suffering with obstetric fistula in some of the most isolated parts of the country.”
On average there are over 3,000 new cases of obstetric fistula each year in Tanzania. Corrective surgery is simple and inexpensive yet estimates suggest that up to 24,000 women have been left untreated and suffering with fistula since the millennium.
Untreated fistula can lead to chronic medical and psychological problems and women are often socially excluded, extremely poor, and geographically isolated. CCBRT and Vodacom call upon all stakeholders to restore the dignity of all Tanzanian women who are suffering from this treatable condition.
On the first day of an historic joint, United Nations and World Bank Group mission to the Great Lakes region, the World Bank Group announced $1 billion in proposed new funding to help countries in the region provide better health and education services, generate more cross-border trade, and fund hydroelectricity projects in support of the Great Lakes peace agreement that was signed by 11 countries in February.
World Bank Group President Dr. Jim Yong Kim, who is traveling with the UN Secretary General, Ban Ki-moon, on a three-day trip to the Democratic Republic of Congo (DRC), Rwanda, and Uganda, said that a secure and developed Great Lakes region was vital to Africa’s efforts to dramatically reduce extreme poverty and create prosperity for millions who have had little economic opportunity.
“We made extraordinary efforts to secure an additional $1 billion in funding because we believe this can be a major contributor to a lasting peace in the Great Lakes region,” Mr. Kim said.
Kim said the new regional pledge, in zero-interest financing from the International Development Association (IDA), will support two major regional development priorities: recovery of livelihoods to reduce the vulnerability of people living in the Great Lakes whose communities have suffered greatly during conflict in the region; and revitalizing and expanding cross-border economic activity to spur greater opportunity and integration in the areas of agriculture, energy, transport and regional trade.
The World Bank’s proposed additional funding includes roughly $100 million for supporting agriculture and rural livelihoods for internally displaced people and refugees in the region.
The bank also dished $340 million to support the 80 megawatt Rusumo Falls hydroelectric project for Burundi, Rwanda, and Tanzania, $150 million for the rehabilitation of the Ruzizi I and II hydroelectric projects and financing for Ruzizi III, supplying electricity for Rwanda, Burundi, and DRC. About $165 million will be used toward building roads in DRC’s North and South Kivu and Province Orientale.
$180 million will be for improving infrastructure and border management along the Rwanda-DRC border; and additional millions of dollars for public health laboratories, fisheries, and trade facilitation programs among others.
While other parts of sub-Saharan Africa are experiencing high growth rates, countries of the Great Lakes region have had extremely high levels of poverty and very low levels of key services such as access to electricity. Yields from agriculture also are typically quite low.
A key part of the World Bank Group’s development approach to the region is to increase power generation and interconnectivity to take advantage of low-cost and renewable sources of hydropower and geothermal energy.
Developing the hydropower potential in DRC, in particular, will provide Burundi and Rwanda access to low-cost power and a stake in regional stability. Currently, there is no regional grid and very limited interconnectivity between countries in the region.
In Kinshasa, UN Secretary-General, Ban Ki-moon, warmly welcomed the World Bank Group pledge.
“Many countries in Africa are taking dynamic forward strides, and now the people of the Great Lakes region, especially the DRC, deserve their full chance for progress. A peace agreement must deliver a peace dividend. That is why Dr. Jim Kim and I are making this visit. We see a horizon of hope for the people of the Great Lakes, and we are determined to help them every step of the way,” said the UN Secretary-General.
Obama’s intention to unveil Africa’s Power Supply Plan while in Tanzania will be of great significance to the country and the continent at large, said Forbes-under 30 – Africa’s Best Young Entrepreneurs Award winner Patrick Ngowi.
Commenting on confirmed reports that the US President will be visiting sub-saharan Africa next month, Engineer Patrick Ngowi (28), who is also the Managing Director & CEO for Helvetic Solar Contractors said that the energy plan which will be historically announced in Tanzania should be whole heartedly embraced, as it is very meaningful for development of people and the country’s economy.
“Energy plays a very crucial role when it comes to the progress of any country. Therefore, Tanzania and Africa at large are not excluded when looking for viable solutions towards our power woes. I am confident that in partnership with the United States, we can make a valuable contribution to this,” he said.
After Eng. Ngowi learned that only 14 percent of Tanzania has access to electricity that’s when he decided to venture into the solar business and is now making a difference to the Tanzanian community through renewable energy.
“I did not only see a problem, but an opportunity, which I applied a feasible solution to, and here I am today, promoting young entrepreneurship through renewable energy,” he added.
Apart from listing on Forbes 2013: ‘30 under 30’ Africa Award, the young entrepreneur has also managed to bag the Fastest Growing and Number One spot in the Top 100 Mid Sized Company in Tanzania 2012 - 2013 survey conducted by The Citizen, Mwananchi Communications, NBC Bank and KPMG (East Africa).
Eng. Ngowi -- founder of Helvetic Solar Contractors supplies, installs and maintains all types of solar power and thermal systems in Tanzania and across East Africa.
The Minister for Industry and Trade Dr. Abdallah Kigoda (second left) hands over an award to the Exim Bank Tanzania –Tanga Branch Manager Deogratus Makwaia after emerging best exhibitor in the financial institutions Category during the just concluded Tanga Trade Fair.
Zuku Pay TV, the renowned East African home entertainment brand, owned by Wananchi Group, has announced Ambrose Shayo as the winner of the top prize of a 42 Inch Flatscreen TV of the Zuku Tunakuthamini-Pata TV Bure reward program which concluded recently.
The reward program was the first of its kind in Tanzania that guaranteed all participating subscribers to win a reward. Under the campaign, customers were required to connect ten (10) or five (5) new customers and were guaranteed to win a 42 Inch and 22 Inch Flat Screen TV respectively. The programme was launched in October last year.
“I am very excited to be the winner of the top prize of a 42 Inch Flatscreen TV. I never imagined that I would win the top prize and I would like to thank my wife and children for encouraging me to participate in the promotion. My wife and children truly deserve this prize, Ambrose Shayo, winner of the 42 Inch Flatscreen Tv, said.
Other prizes won from the campaign were the 22 Inch FlatScreen TV that was won by Renatus Choga of Mbeya Region, Kongwa Manager of Dodoma Region, Zuhura Salim, Zuhura Jaha and Petroleum Expeditors all from Dar Es Salaam .
Speaking to press, Zuku Tanzania Country Manager Fadhili Mwasyeba said, “The Zuku Tunakuthamini reward program was a great success and we are excited that all our customers actively participated in the country wide campaign. This campaign has truly shown us Tanzanians are excited about our services all over the country.”
He further added; “For all our subscribers who did not get a chance to win this time around need not to worry, Zuku has a lot more planned for you this year to keep you entertained and excited and we will continue to show our gratitude.”
Tanzania is the first East African country to successfully complete the switch from analogue to digital transmission systems. With the new digital systems, customer will be able to enjoy more HD quality programming at the comfort of their homes in any part of the country.
The Zuku Pay TV signal is transmitted via satellite and provides superior and uninterrupted quality picture and sound and is available country wide. Zuku customers enjoy more than 80 HD quality channels with local and international content.
Zuku provides tailor-made channels such as Swahili channel showing Bongo movies, Zuku Africa airing African content, Zuku Life airing documentaries, Zuku Sports as well as a number of themed movie channels. In addition Zuku Pay TV offers a wide selection of entertainment channels covering news, sports, movies, documentaries and music.
Connection and One month subscription of Zuku Premium is available at Zuku dealers and agents countrywide at Tsh. 132,000
The Commercial Director for Zantel-Zanzibar, Mohamed Mussa holding a motorbike which he later on handed over to the winner of Kwangua na Ushinde promotion, Ms. Khadija Ali Haji who is a resident of Donge in Zanzibar.
The Commercial Director for Zantel-Zanzibar, Mohamed Mussa handing over 3G moderm to a winner of Kwangua na Ushinde promotion, which was held recently in Zanzibar.
The Commercial Director for Zantel-Zanzibar, Mohamed Mussa in a group photos with the winners of the second week of the draw of Kwangua na Ushinde promotion which held recently in Zanzibar
Two mining firms, Gas Tanzania and Swala Oil - have shown interest to raise capital through Enterprise Growth Market (EGM)—the Dar es Salaam Stock Exchange's (DSE) second market segment, which has lesser stringent listing requirements.
The capital to be raised will be used for exploration drive in the country. The two companies are just waiting for approval from shareholders. Austrian Swala Energy owns Swala Oil (Tanzania) by 65 per cent.
If Swala gets the shareholders' approval as expected, it might become the first company to list through the alternative market that has been yawning for products since it opened doors late last year.
According to the Enterprises Growth Market Advisor (EGMA) Managing Director, Dr Fratern Mboya, three other companies have shown interest to list on EGM. The firms - one from the banking and two from the mining sector - are at advanced stage.
Mr. Mboya, said one community bank would list in the next three months.
Capital Markets and Securities Authority (CMSA) Principal Public Relation Officer, Charles Shirima said a number of firms have shown interest to go public through the EGM although no tangible applications have been received.
A number of firms have shown interest but no formal application has been logged so far," Mr Shirima said. According to a source, Swala Oil management has presented the offer documents to the shareholders and is waiting for approval before filing an application for public offering to CMSA and DSE.
A Dar es Salaam based firm, Chimba Resource Company has worn a $ 1.5 million pact to construct about 50 boreholes in Unguja and Pemba islands. The project sponsored by Ras-Al-Khamah, one of the United Arab Emirates (UAE) countries is aiming at supplying clean and safe water to the residents of the Isles.
According to Mr. Amani Mworia from Chimba Resource, 16 of the 50 wells will be constructed in Pemba Island, while the rest will be constructed in Unguja. “If everything goes well, the project will be completed in August this year,” Mr. Mworia said.
He further said that the areas to benefit from the project include villages in South, North and West districts in Unguja and Pemba islands. The project also includes installation of water storage tanks.
During his meeting with Mr. Krikur Khssemjiap, an official from Ras-Al-Khaimah, the Zanzibar Minister for Labour, Economic Empowerment and Cooperatives, Mr Haroun Ali Suleiman, thanked the Ras- Al- Khaimah administration, which has also donated several goods to the needy in Zanzibar, including utensils, clothing, foodstuffs, including dates, wheat flour, sugar, rice, and 40 wheelchairs for people living with disabilities.
The UAE state promised continued development support for Zanzibar in various development programmes, mainly in health, education and water.
Fastjet, Africa’s low-cost airline, and its branding agency, SomeOne, have won the prestigious ‘Brand Strategy of the Year’ award at the recent Drum Marketing Awards in London.
The win for the airline’s African Grey Parrot brand is the latest award for the airline which picked up three honours at the Transform Brand Awards earlier this year.
“It is obviously very humbling to be recognized by your industry peers and we are thrilled. At the very start, we said that fastjet would communicate to our target audience with energy and honesty. These awards are recognition that, we are doing so in an industry-leading way,” fastjet Marketing Manager, Jai Gilbert commented.
Fastjet’s Pan African marketing strategy embraces the strongest possible channel mix which has seen it dominate the social media aviation environments of Facebook and Twitter, introduce tens of thousands of people to aviation for the first time and gain brand awareness across the continent and beyond.
“Given our reasonably small route network so far, it is remarkable that our brand is as famous across the world as it is. This is testament to the quality of our product, the market stimulating fare structure and the readiness of the population of Tanzania to embrace the overall fastjet proposition. Our marketing plan has driven this success and we look forward to rolling this out initially in South Africa and then across Africa,” fastjet Chief Commercial Officer, Richard Bodin said.
Corporate and business community in the country are now assured of making transaction within Africa and to the rest of the world following the Bank of Africa, Tanzania move to enhance its online banking services by launching the newly B-Web Smart mobile banking technology.
The newly introduced service would enable the bank customers to access their account at any time, any place due to the fact that the service has the advantage of higher transfer amount, compared to other mobile banking which does not use the B-Web Smartphone service. “With this new innovation, our customers can transfer up to one million Tanzanian shilling from one account to another,” Bank of Africa, Tanzania e-banking Senior Manager, Cyprian Massawe said.
He said that the B-Web smart customers are required to undergo a simple exercise by filling the B-Web application form available at all of the bank's 19 branches, thereafter the registered customers will have to visit http://www.bwebsmart.com/ using their connected internet Smartphone ready to access the services.
The newly B-Web Smart mobile technology does not only allow transactions within the Bank of Africa, but also allows transactions across banks and can be conducted within Africa and the rest of the world. The Bank senior Marketing Manager, Mr. Solomon Haule, stressed that the technology is not only limited to the branches but can also be accessed far away from bank branch system.
Bank of Africa, Tanzania has a network of 19 branches in Tanzania, with 10 of the branches in Dar es Salaam. Other branches are in Arusha, Kilimanjaro, Kahama, Mbeya, Morogoro, Mtwara, Mwanza and Tunduma.
TRA Commissioner General, Mr. Harry Kitilya
Tanzania wants to evaluate the design and administrative issues pertaining to tax of individuals and corporations for better equity, economic efficiency and growth, revenue adequacy and stability as well as administrative simplicity.
According to Tanzania Revenue Authority (TRA), Tanzania is in line with performance observed in most low income countries. “Admittedly, the Personal Income Tax (PIT) is not the easiest of tax to administer or comply due to the existence of high degree of informality in the country,” TRA Commissioner General, Mr. Harry Kitilya said in a statement.
He said that While exhibiting a high revenue potential for further growth, the Corporate Income Tax (CIT) poses big deign and administrative challenges.
“Emerging of multinational and other big corporations operating in Tanzania in such sectors as telecommunications, financial services, mining and gas operations and the like comes along with the tax planning, transfer pricing and other avoidance and evasion schemes. All these challenges are to be evaluated in time so as to boost revenues of the country,” Mr. Kitilya said.
Attaining the task at hand, TRA is now inviting expression of interest from interested eligible and competent individual consultant to provide technical assistance on the assessment of PIT and CIT structure.
According to TRA, the consultant should undertake the assignment in relation to the existing tax structure for the period of 2003/2004-2012/2013. Estimate the relative tax burden between the PAYE income payers and other personal income tax payers.
“He/she should evaluate the level and adequacy of the exemptions regime contained in the income tax structure in Tanzania,” Mr. Kitilya explained.
The consultant will also review the existing human resources capacities and collectiveness in collecting income tax, assessing the dynamics behind the relative low revenue yield from PIT and CIT in Tanzania when compared with other Sub-Saharan Africa.
The study by the consultant will evaluate the current PIT and CIT design issues including their current structure, evaluating their impact in terms of tax base burden and incidences as well as the compliance implications of adoption of lower tax rates.
“Finally, the consultant will prepare a comprehensive report including a summary of findings and recommendations on the current structure for improved equity, fairness and revenue productivity of the PIT and CIT in the country,” Mr. Kitilya said.
The authority is responsible for assessing collecting and accounting for central government tax revenues which are utilized in financing government expenditures.
As stated in its Mission statement and corporate goals, the authority is committed to increase revenue collection by accurately expanding the tax base.
The Tanzania Chamber of Minerals and Energy (TCME) have declared its concern over unilateral action by Ruvuma Region authority, who recently ordered the temporary closure of the Ngaka Coal Mine.
Ruvuma Region authority made the announcement that it had ordered the mine’s closure live on television, in front of resident’s of Ntuduwalo village. The pronouncement was against Tanzania’s due process, whereby only the Ministry of Energy and Minerals can close down a mining operation. This can only happen after proof, beyond reasonable doubt, of safety or environmental failures, and after the mining operator has an opportunity to address these concerns.
“This news came as a shock to the Tanzania mining community. The Ruvuma Region authority had total disregard for the sanctity of the legal and regulatory framework provided by the Mining Act 2010,” Emmanuel Jengo, Executive Secretary of the TCME responded to the incident.
He said that such arbitrary and unilateral action has the potential to portray Tanzania as a difficult place to do business and may discourage investment in this vital sector. “We are aware that the mine has being reopened, but we wish to make clear, our condemnation of the actions that occurred in Ruvuma and request the government to work with the local authorities to protect the due process in the mining industry,” Mr. Jengo said.
Mining in Tanzania provides thousands of jobs, investment and technology opportunities to the country. Gold exports in particular, bring over 50 percent of the country’s foreign exchange and mining companies pay hundreds of millions of dollars in taxes and royalties every year.
Ngaka Coal Mine provides up to 250,000 tonnes of coal per year to Tanzania’s domestic market, helping the country reduce reliance on foreign fuel imports.
Tanzanian Chamber of Minerals and Energy (TCME) was established in 1994 and represents the interests of its members in the Tanzanian mineral sector.
Acting as a voice for the industry the Chamber plays a pivotal role within the sector as a mediator between the mining investment community and key stakeholders, most notably the Government of Tanzania and the public.
The Ambassador for Vodacom brand in Tanzania, MwanaFA, the musician, has urged men in the country to be in forefront, seeking solutions to the challenges facing the society and bring a positive change.
“It is clear that men have been the decision makers in the community and they have been considered as pillars of the families. It could be wise if they will use the power and honor they have in the community to bring about positive changes, and this is by taking part in eradicating fistula and fistula stigma in the country,” he said during the ongoing Fistula campaigns in Dodoma.
The campaign which runs in various regions has been sponsored by Vodacom and Vodafone UK.
According to MwanaFA, fistula is curable and can be prevented. Men should take a lead in supporting women in making sure that the problem is wiped out.
“I appeal to residents of Dodoma especially men, to change the perception we have about fistula and realize that with our efforts combined, the problem can easily be eradicated,” he said.
He further said that fistula is now curable more than ever before, thanks to Vodacom who have been creating good environment for everyone by providing free medication to fistula victims.
According to MwanaFA, the decision to make a tour to the entire country is meant to encourage men to participate in overcoming the negative notion about fistula.
It has been discovered that communities in some parts of the country have been linking fistula with superstition or curse.
On her part, the Deputy Minister for Community Development, Gender and Children, Ummy Mwalimu, said it is not right just to continue to let women suffer when there is an opportunity to enable them to be treated. She urged the community to join hands to support the campaign and use it accordingly.
“Vodacom is doing a great job by helping the communities in the country. We will never be shy to congratulate the firm within and/or outside the Parliament for the great work they have been doing and this includes the fistula,” Ms. Ummy said.
Vodacom uses an average of Tshs 700, 000 to Tshs 900, 000 to pay for the treatment of one patient of fistula in the CCBRT hospital.
Airtel Director of Communication, Beatrice Singano (on the left) and Airtel International Business Service Manager, Prisca Tembo (second right) inaugurating new international offer that enables Airtel customers to call India at competitive and affordable rates. Others are Indian High Commissioner to Tanzania, H.E. Mr. Debnath Shaw (in the middle) and Airtel Tanzania Managing Director, Sunil Colaso.
Bharti Airtel ("Airtel"), a leading telecommunication service provider with operations in 20 countries across Asia and Africa, has announced the launch of an offer that will allow its customers across Tanzania to make international calls at the most competitive rates.
The new offer makes Airtel Tanzania, one of the most affordable and quality services provider, demonstrating its continued commitment to connect people by providing affordable rates in the country. The launch follows the introduction of ‘Airtel Yatosha’, another unbeatable service introduced a few weeks ago.
"After the successful launch of Airtel Yatosha, we are now introducing another affordable offer that will make it easier for our customers to communicate with family, friends and business partners across the boundaries. We are once again introducing affordable communication services that will connect Tanzania to the world and the world to Tanzania at the most competitive rates, Airtel Tanzania Managing Director, Sunil Colaso, said during the launch.
For as lowest as 3,000 shillings, Airtel customers will be able to call India 24hours 7days a week. The new international calling offer will provide Airtel’s customers with 25 minutes bundle at a fixed price.
"This is the first from Airtel, and the service will guarantee our customers quality, reliable and affordable communication services at all times. We have listened to our customers' needs and leading to the design of this product that suits their needs. We will continue to demonstrate our commitment to Tanzania and bring affordability, innovation and quality services that will make certain there is freedom talking across boundaries," he said.
The service will especially enable customers in Tanzania travelling to, or contacting those in India, be it business study or visiting India for health reasons stay in touch with families at very competitive and affordable rates. Mr. Colaso said the launch is a beginning of a journey that will transform the Tanzania telecommunications market.
On his part Indian High Commissioner to Tanzania, H.E. Mr. Debnath Shaw said, "We applaud Airtel for introducing extraordinary offer that will strengthen our relationship between India and Tanzania. The two countries have a significant history and have always had close ties not only in trade but also in education, health and other social activities. I am delighted to see Airtel taking the lead to introduce affordable rates to Tanzanian market.”
In India, Airtel is one of the leading service provider, that has vastly invested in technology, network and provide quality, affordable services to its customers. “I'm happy to see the telecommunication industry being transformed as that of India and Airtel replicating the same to African market," he added.
Commenting on the service, ‘Airtel International Offer’, Airtel International Business service Manager, Prisca Tembo, said that the offer will be in form of bundle minutes, at a fixed price of 3000 shillings customer gets 25 minutes to call to India 24 hours 7 days a week. The charges will be per second and calling outside the bundle offer shall remain the same thus apply the normal rate.
"To subscribe for this offer customers should dial *149*13# and enjoy special calling rates. This service is available to prepaid customers across the country," she said.
Bharti Airtel Limited is a leading global telecommunications company with operations in 20 countries across Asia and Africa. Headquartered in New Delhi-India, the company ranks amongst top 4 mobile service providers globally in terms of subscribers.
In India, the company's product offerings include 2G, 3G and 4G wireless services, mobile commerce, fixed line services, high speed DSL broadband, IPTV, DTH, enterprise services including national & international long distance services to carriers. In the rest of the geographies, it offers 2G, 3G wireless services and mobile commerce.
Tanzania Airport Authorities (TAA) is currently holding talks with various eligible fuel distributing companies in the country to provide refuelling systems at Songwe airport in Mbeya, because there is no company offering such revises at the moment.
“We are communicating with different oil companies who can set up aviation refuelling stations at a reasonable price,” the Regional Commissioner for Mbeya, Abbas Kandoro said.
According to Mr. Kandoro, the construction of the airport is moving at a fast pace as the region seeks to boost its economy through the export of fruits and the soon to be produced, flowers and vegetables.
“So far, three quarters of the airport apron, (the area where aircrafts are parked, loaded and unloaded or refuelled), have been completed. Another area which is undergoing final touches is the terminal for incoming and outgoing passengers,” he said, adding that the airport is envisaged to handle large aircrafts.
On his visit to Mbeya on May Day, President Jakaya Kikwete challenged business community in Mbeya to incorporate modern techniques to improve on the quality of fruits so as to sell to external market.
He also encouraged them to expand vegetable and flower production to meet external demand since the climate is conducive and therefore it will further boost the economy.
The horticulture industry in Mbeya represents a major export opportunity to EU and the Middle East countries.
The region has very favourable climate and skilled manpower for growing of fruits such as pineapples, avocados, peaches and vegetables and flowers. The area under horticulture is estimated at 8,000 hectare and producing 24.025 tons vegetables and fruits.
The Permanent Secretary for Ministry of Trade, Industry and Marketing, Ms. Joyce Mapunjo, giving a key-note during the official launch of Pre-shipment Verification of Conformity Program ( PVoC ) workshop in Dar es Salaam.
Bureau Veritas (BV), a global leader in Testing, Inspection and Certification (TIC), has recently held a workshop in Dar es Salaam on the Pre-shipment Verification of Conformity Program (PVoC).
Speaking during the workshop Mr. Jean-Michel Marnoto, BV Vice President, said that a country with access to quality products set the right pace for economic growth and development.
“It is for this reason that we are here today to ensure Tanzanians have unrestricted access across the market place to genuine products. We are grateful to the Tanzanian government for the support and commitment it has shown in ensuring that the people and the environment are protected in order to move the economy to the next level,” added Marnoto.
Marnoto highlighted that BV had a 185 year pedigree delivering quality services to meet the growing challenges of quality, safety, environmental protection and social responsibility. BV is present in 140 countries with 1,330 offices and laboratories with 59,000 employees and 400,000 clients.
Created in 1828, Bureau Veritas (BV) is a global leader in Testing, Inspection and Certification (TIC), delivering high quality services to help clients meet the growing challenges of quality, health, safety, environmental protection and social responsibility.
As a trusted partner, Bureau Veritas offers innovative solutions that go beyond simple compliance with regulations and standards, reducing risk, improving performance and promoting sustainable development. Bureau Veritas is accredited ISO 17020 and leader for the PVoC programs.
The workshop, was held in partnership with the Tanzania Bureau of Standards (TBS), aimed at deepening awareness and understanding of the PVoC program and its benefits. The event was officially inaugurated by the Permanent Secretary in the Ministry of Industry and Trade, Joyce Mapunjo.
On her part, the Permanent Secretary in the Ministry of Industry and Trade, Ms. Mapunjo stated that while the PVoC program is a relatively new phenomenon for most Tanzanian businesses, it is an extremely important program in ensuring that Tanzanians have access to bona fide genuine products in the local market.
“Our commitment to fight counterfeits will also lead to greater protection of local industry players”. Ms. Mapunjo added that the PVoC program would empower both consumers and businesses alike in verifying the origin authenticity of key products. She concluded by commending Bureau Veritas for their commitment in delivering the PVoC program in Tanzania.
Developing countries are set to benefit from the global 2013 dialogue which is said to provide a platform for technological stakeholders to discuss on how science and technology can be used in promoting social and economical development.
Tanzania will host the dialogue in Dar es Salaam from June 28 to July 1 this year. The theme of this year’s Smart Partnership International Dialogue 2013 is ‘Leveraging Technology for Africa’s Socio-economic Transformation: The Smart Partnership Way’.
“The dialogue will focus the attention to technology inclusiveness, policy frameworks, as well as approaches for using innovation to foster sustainable development in Africa and elsewhere as it is anticipated that a dialogue on technology for socio-economic transformation shall merit global attention and have a global participation,” Tanzania’s Foreign Affairs and International Cooperation Minister, Bernard Membe said.
According to Mr. Membe, about ten presidents from African countries and five former presidents from other parts in the world have confirmed their attendance at the international meeting on the Smart Partnership Dialogue schedule at the end of June this year. ” Number of presidents who are expected to attend the international meeting to be held at Mwalimu Nyerere International Conference Centre might increase because there were still ten days more for them to confirm attendance.”
He further said that the meeting is expected to be attended by about 500 participants from various countries all over the world. “I therefore call upon Tanzanian businessmen and women, hotel owners, taxi drivers to use that rare opportunity to make quick money from the guests during their presence in the country.
The Dialogues began as a platform for scientists to meet and discuss Scientific and Technological issues that were relevant all over the world. The changing geo political space, the shrinking of the global and increasing interconnectedness and interdependence made the idea of a sustainable open forum to discuss global topical issues a necessity.
The project manager for the smart partnership dialogue, Rosemary Jairo said that the preparations for the meeting were at last touches and at least 106 local experts from various sectors such as universities, trade and business, science and technology are expected to participate.
“That experts will present different topics and participants shall have opportunity to react and contribute to those topics,” she said.
The Smart Partnership Dialogues started early 1990s when the first Dialogue was held in Malaysia in 1995 under the leadership of the then Prime Minister Dr. Mahathir Mohamad.
Previously the dialogue took place in 2011 in Putrajaya, Malaysia, 2009 Munyonyo, Uganda and 2008 Lusaka, Zambia, to mention a few.
Investments in infrastructure across Africa have failed to keep ace with growth and demand. The African Development Bank (AfDB) has recently said that for Africa to close infrastructure deficit, the investment of about $ 93 billion is needed yearly to 2020.
More than half of the countries in Africa suffer chronic power outages, while the continent’s road and rail networks are inadequate and port facilities insufficient – strains which often add up 75% to the price of Africa’s exports, undermining their competitiveness on the global markets. In the meantime, inadequate water and sanitation infrastructure costs Africa the equivalent of some 5% of its GDP.
Development Bank funding along will not suffice and financing will remain a major challenge.
The AfDB’s strategy for 2013 to 2022 has infrastructure development at its heart. It said a substantial portion of its future funding commitments will be dedicated to the improvement of transport and logistics chains, increasing energy output, enhancing the development of water resources, and expanding broadband telecommunications.
“AfDB said inadequate infrastructure is often cited as the single largest obstacle to doing business on the continent,” the bank said.
In a move to smoothly attain the strategies, AfDB will support policy, institutional and regulatory reforms to promote private participation and enhance the efficiency and sustainability of infrastructure investments. Initiatives include promoting public-private partnerships and helping African financial markets build the capacity to raise long-term finance for infrastructure development.
“Africa, it is clear, will need new and innovative sources of finance to clear its infrastructure deficit,” the AfDB said. “The continent’s fragile states will require tailor-made solutions and special tools to address their urgent development challenges.”
Solo Oil has told investors and potential stakeholders that it expects a farm-out deal for its Tanzania assets to be concluded once the government has approved the revised contract terms. "We at Solo remain of the view that a mutually attractive farm-out can still be concluded,” said executive director, Neil Ritson.
He said that revised production sharing contract (PSA) terms, when approved, will allow the necessary additional seismic to be completed before drilling obligations become due and that will significantly increase the chance of further discoveries."
The Ruvuma PSA contains the 1.1 tcf Ntorya-1 gas condensate discovery made onshore in the Ruvuma Basin by Solo and Aminex in 2012. Participants in the PSA are Ndovu Resources Ltd (Aminex) 75% (operator) and Solo Oil Plc 25%.
Solo shares fell 10 percent on Monday after an update from joint venture partner Aminex, which confirmed a delay in the farm-out process, meant that necessary work programmes would not be completed before the December deadline under the PSA.
According to Solo the revisions to the PSA have been agreed in principle with the Tanzanian government, and it expects a farm-out deal will be done once this agreement has been formally approved.
Solo also said farm-out talks are ongoing with more than five interested parties.
Solo Oil plans to acquire a diverse portfolio of direct and indirect interests in exploration, development and production of oil and gas assets which are based in the Americas, Europe or Africa. Both on-shore and off-shore interests will be considered. The intention is to acquire a widely distributed mix of oil and gas development and production assets.
A family huddles in a closet as the man of the house arrives home. This is the nail-biting setting that Creative Eye Africa, one of East Africa’s new home-grown advertising agencies created for a TV commercial that has recently won a prestigious Avon Communications Award for their recent campaign on domestic violence.
The ‘Kuwa Mfano wa Kuigwa’ television commercial incorporated a humorous twist on the burning issue of domestic violence and was highly popular on Tanzanian TV channels and on social media platforms.
Contracted by the Champion Project, a USAID funded project specializing in health-based initiatives, Creative Eye was tasked to create heightened awareness on the stigma of domestic violence.
The TV commercial plays on a scenario of a wife and children hiding from ‘Dad’ when he arrives home. The witty finale is when it is revealed that they are actually on one of their regular ‘hide and seek’ games.
“The Champion Project campaign was a fun project for us and we are glad we were able to sensitize the public while keeping to our values of local relevance and insightful marketing,” Hilda Kiel said, Creative Eye’s Services Manager.
This comes at a time when clients are increasingly turning to more localized advertising agencies that are better attuned to the local market. Increased competition has heightened the cost against benefit question when selecting an agency, as is the importance of being locally relevant.
“We pride ourselves on being able to give a local spin to all our creative work,” said Mandla Mguni, Creative Eye’s Creative Director from his offices in Dar es Salaam, Tanzania.
The Avon Communications Award programme is currently in its second year and recognizes campaigns that speak out on violence against women. Their international panel of judges has reviewed over 425 entries from 46 countries globally.
Creative Eye Africa currently operates in Tanzania, Rwanda and Kenya and is continually expanding throughout the East African region.
Banking and industrial segments has buoyed increased trading activities at the Dar es Salaam Stock Exchange. The bourse recorded outstanding performance last week with turnover rising to Tshs 2.43 billion, which is 514.7 percent high compared o Tshs 395 million of the previous session.
The Banking Segment Index strengthened further to settle at 1,517.29 points from 1,483.44 points in the previous week, while the Industrial & Allied Index improved to 1,901.81 points from last week's 1,898.63 points. CRDB counter recorded significant performance with the counter gained 2.82 percent to end at 182/50 per share from 177/50 per share.
The Dar es Salaam Stock Exchange All Shares Index (DSEI) ended the period with a 0.22 percent higher at 1,539.95 points while Tanzania Share Index (TSI) closed the week at 1,660.15 points, a 0.87 percent increase supported by gains made in the NMB, CRDB, TTP 9.09 and TCC counters.
The week's increase in turnover and volume was mainly supported by CRDB counter that accounted 66 percent of the total turnover and 96 percent of the volume
According to the report from Tanzania Securities Limited (TSL), the weekly market report shows that shares which changed hands at the bourse rose to 9,089,799 shares, equivalent to 478.5 percent compared to 1,571,552 shares of the preceding period. Foreign investors participated significantly by Tshs 471 million, a 19 percent of the total week's turnover.
A total of 8,721,032 shares changed hands in the counter 488.53 percent compared to last week where 1,481,831 shares were traded. The counter saw significant foreign investors support that accounted for 28 percent of the counter's turnover. The NMB closed the week with a price of 1,480/-.
During the week the counter transacted 68,442 shares 57.52 percent higher than 43,450 shares of last week. Although volumes remained subdued, the count gains reflect local support buoyed by 2012 recently dividend announcement. The counter remained flat during the week. TBL moved 5,004 shares at 3,020/- per share. Simba counter had 25,234 shares during the week transacted at 2,400/- per share compared to 5,350 shares traded last week at 2,420/- per share
Twiga counter was the top mover this week with a turnover of Tshs 669.8 million from 253,699 shares, higher from last week's turnover of Tshs 26.1 million from 10,219 shares.
In a bid to avoid the costs involved in the transportation of coins and notes across the country, many banks settle for higher denomination notes like 5,000 and 10,000 notes, thereby occasioning shortage of coins in various parts of the country. To curb such a situation, the Minister for Finance and Economic Affairs, Dr. William Mgimwa said bank of Tanzania (BoT) has taken measures such as obliging commercial banks to withdraw money from the Central Bank with special attention to a denomination mix that is favourable.
Dr. Mgimwa further aid that the Central Bank has opened safety custody centres in commercial banks branches in regions far from BoT including Kigoma (CRDB), Tabora (NMB) and Songea (CRDB).
He said that, in order to execute this responsibility, BoT ensures that notes and coins distributed are in a mix that meets the needs of the public. In order to reach communities, he said, BoT uses commercial banks to distribute notes and coins
During the recent parliament session, Members of Parliament expressed concern over the shortage of coins in various parts of the country, noting that the situation is affecting efficiency among petty business people.
They wanted the government to explain what was causing the shortage in the market. Responding, Dr. Mgimwa said, the Bank of Tanzania (BoT) Act 2006, states that the Central Bank amongst its responsibilities handles the distribution of coins into the market.
The Tanzanite miner Richland Resources has reported that in its first quarter for the year 2013, it managed to record tanzanite sales of $ 4 million.
The financial report of the company also shows that, there were some improvement in the production sector which made the company to record tanzanite output of 788,198 carats with an average grade of 97 carats per tonne.
“This is an improvement over the same period last year when the company extracted 533,400 carats with an average grade of 51 carats, although, a slight decrease from the last quarter of 2011,” read part of the report.
Richland said its tsavorite project in Tanzania had produced some initial bulk sampling that was encouraging. It has recovered some bright, clear gems between 2 mm and 8 mm in size. Tsavorite is a brilliant green stone which is a variety of grossular garnet. It can be found in Kenya, Madagascar and Tanzania.
Recently, the company signed up state-run STAMICO for a 50 percent stake in its licence in the hope the government partnership would result in action on curbing illegal mining.
Illegal mining is seriously affecting its Tanzania operations, Richland said in a statement on the Proactive Investors UK site, resulting in a significant decrease in quality and value of miner gemstones.
Tanzanite, a blue-purple gemstone, can only be found in the foothills of Mt. Kilimanjaro in Tanzania
Two Manchester United officials -- Relationship Director, Anthony Benerjee and Relationship Manager, Michael Higham will arrive in Dar es Salaam this Wednesday for consultation with Airtel Tanzania officials on the best ways to run this year's U-17 youth football tournament, Airtel Rising Stars (ARS).
Airtel Tanzania Public Relations Manager, Jackson Mmbando, said the meeting to be held at Airtel Headquarters in the city will also review the previous two ARS editions and come up with the best format on how to move the tournament forward.
The Tanzania Football Federation (TFF) will also be involved as custodian of the game to chip in their expertise especially on issues related to match fixtures and other technical matters.
Commencement of ARS 2013 is set to be announced this month.
Airtel Rising Stars football tournament was launched in Tanzania and other parts of the continent in 2011 with the aim to facilitate identification of football talents and showcase their skills to leading scouts and coaches.
The competition starts from the grassroots, where secondary schools teams compete with one another at regional level to form a combine team that represents region at the national festival. In the past two years, 48 secondary school teams were featured in this event.
The inaugural 2011 national tournament was followed by an international clinic held at the ultra-modern National Stadium in Dar es Salaam bringing together talented boys and girls from Kenya, Malawi, Sierra Leone and the host.
Last year's ARS national tournaments culminated in an inter-country championships held in Nairobi in which countries from Airtel markets took part. The clinic was also held in Nairobi the tutelage of coaches from the Manchester United Soccer Schools where they undertook a rigorous program covering the technical, physical and behavioural aspects of soccer.
Increasing investment in ‘Agriculture research for development’ is expected to bring the much awaited agriculture transformation to Africa and help address the rising wave of youth employment and poverty.
“Improving food crop production, innovations in genetic improvement have shown how enhanced crop productivity, along with other ingredients, such as capacity building and policies helps to lift millions in Sub-Saharan Africa out of poverty,” the former president of Nigeria, Olusegun Obasanjo said recently during the official inauguration of the long awaited $ 5 million science building in Dar es Salaam.
He said that more investment in agriculture research will have positive trickle-down effect on youth by way of generating improved technologies that could attract them in agriculture and solve building their capacities’ in solving both present and future challenges of food security
“East Africa and the continent at large now have the facility that will eventually bring in changes in Agriculture for the brighter future. Its construction is part of the institute’s effort to boost agriculture and improve livelihoods of small-holder farmers in Eastern Africa through it research for development approach. It is also a sign of the institute’s commitment to fight hunger and poverty in the region,” he said.
The ultra-modern environmentally friendly science building has five modern laboratories dealing with agricultural challenges such as plant and pest diseases, poor soil fertility and crop value addition, with capacity to hold up to 70 researchers from the national partners and students from higher learning institutions in the East Africa region.
He said that the institute works with public and private sector partners to enhance crop quality and productivity, reduce risks to producers and consumers, and generate wealth from agriculture.
“IITA mission is of eradicating hunger and poverty through our science. With the facility in hand we will be able to work and fulfill our mission as required. We are now able than before to help the small holders farmers of East Africa to make the most of research findings and feed the continent,” he said.
Located in Dar es Salaam, Tanzania, the IITA science building is expected to bring scientific solutions to agricultural problems closer to the people of that region.
State-of-the-art science building will be opened to researchers from Eastern Africa and students to carry out research on various problems facing small-holder farmers.
Tanzania has already floated a global expression of interest for the appointment of a transaction advisor for developing a Bulyang'ombe gold prospect.
"According to a state-run miner NMDC Ltd the role of the selected transaction advisor is to undertake bid process management for selecting the Mine Development cum Operator (MDO) for the development of Bulyang'ombe gold prospect," NMDC said in a statement.
The transaction advisor's role is to give recommendations to NMDC in selecting and finalizing a suitable MDO for the gold mine. However, NMDC will be having full authority to accept, modify or reject the transaction advisor's recommendation.
A top official of NMDC had earlier said the miner was planning to invest about $ 50 million in the Tanzanian mine.
National Environmental Management Committee of Tanzania has granted environmental clearance for the Bulyang'ombe area and the Ministry of Energy and Minerals has also granted the mining leases for a period of 10 years from February 2012.
NMDC possesses four mining licences in Bulyang'ombe prospect in Igunga district, Tabora Region, Tanzania for exploitation of gold. It intends to develop its Bulyang’ombe gold prospects into gold producing mining project/unit.
The total area of the Bulyang'ombe Gold Prospect, comprising 4 ML(mining licence) is 38.83 sq kms. Presently, NMDC is intending to develop the project through MDO.
It had carried out gold exploration in the region south of Lake Victoria in north-west Tanzania during the period 2000 to 2003 and successfully delineated promising targets in Siga Hill area (Kahama district) and Bulyang’ombe area (Nzega district). The mine is estimated to have large amount of gold deposits.
Five Sub-Saharan African nations excluding South Africa are planning to sell $ 7 billion of debt this year, more than in the past five years combined.
Tanzania may sell as much as $ 2 billion of Eurobonds after obtaining its first sovereign credit rating by the end of September. Kenya, East Africa’s largest economy, expects to issue sovereign bonds by September, raising as much as $ 1 billion. Nigeria, sub-Saharan Africa’s largest oil producer, plans to sell $ 1 billion of Eurobonds to finance power projects after meetings with international investors in June. Angola plans to sell $ 2 billion this year after a $ 1 billion private sale in 2012.
“Going by investor confidence, we are able to raise a significant amount of money.” Tanzania Deputy Finance Minister, Janet Mbene said during a meeting of the African Trade Insurance Agency in Nairobi, Kenya.
The country enlisted Citigroup Inc. to help prepare it for a long-term debt rating from one or two credit companies before issuing its maiden Eurobond. “We expect to get the rating by the end of September,” Ms. Mbene said
Tanzania plans to use proceeds from international bond sales to build roads, boost power generation and refurbish the nation’s railways as it strives to reach middle-income status by 2025.
The country’s offering of $ 600 million of seven-year securities to selected investors in March was four times oversubscribed. It sold the debt at 600 basis points, or 6 percentage points, over the London Interbank Offered Rate.
Rwanda, whose economy is growing at an annual pace of more than 7 percent 19 years after genocide in the country killing about 800,000 people, raised $ 400 million in a debut Eurobond last month, at a 6.875 percent yield.
The yield on Ghana’s dollar bonds due October 2017 raised 3 basis points to 4.93 percent yesterday. Rates on Nigeria’s 6.75 percent debt due January 2021 were little changed at 4.15 percent.
Civicon group is now shifting its focus to mining, oil and gas exploration and infrastructure developments (power lines, road and water facilities) to shape its future growth.
The company’s engineering division has invested over $ 11.7 million, which went towards buying heavy equipment to support new projects predominately in Kenya and DR Congo,” said TransCentury in the report.
Civicon has operations in Kenya, Rwanda, South Sudan and Uganda, where it has built roads, petroleum refineries, breweries, laid oil pipelines and is now venturing in oil exploration.
TransCentury, The Nairobi Securities Exchange, listed investment company disclosed in its latest annual report that Civicon will use $ 11.7 million of cash to buy heavy equipment for construction work in East Africa’s mining sector.
TransCentury acquired a 63 percent stake in Civicon Ltd last year in a deal worth $ 36 million and included a share swap restructuring.
The investment firm is gradually reducing its interests in other sectors like real estate as it focuses on the region’s power and infrastructure deals.
Civicon’s contracts include a $ 37.6 million deal to rehabilitate access roads for the Lake Turkana Wind Power Project, upgrade of Kenya Petroleum Refineries and $ 30.5 million construction of an oil terminal in Mombasa. The firm’s clients include East African Breweries Ltd, KenGen and Tullow Oil.
TransCentury is targeting Civicon to become its main profit driver especially once its contracts mature.
The East African states are jointly investing $ 400 million in terrestrial fibre optics for backbone cables that, when complete, will provide a vast network for Internet connectivity.
This fibre system, which will cover more than 15,600 kilometres, will link Tanzania, Uganda, Kenya, Rwanda and Burundi and will create the largest interconnected region on the continent.
The network will stretch from South Sudan to Tanzania’s border with Zambia and Malawi in the south and the DRC-Congo in the west.
In the making, PTA Bank has approved $ 11.5 million loan to build a national fibre optic network in Burundi. The financing for the Burundi Backbone Systems Company (BBS) was approved by the board members of PTA Bank at a meeting in Nairobi early in April 2013.
This will see the landlocked country connected to the international fibre-optic cables for the first time thus ending the dependency upon satellite connections. The 13,000 kilometre fibre-optic project will cover the capital Bujumbura, 17 provinces and the country’s borders with Rwanda and Tanzania.
It will also see Burundi’s bandwidth prices drop significantly. Currently, telecom operators in Burundi pay dearly for Mbps per month for international bandwidth. Internet users in Burundi pay some of the highest rates for connectivity in Africa.
Burundi will however have to rely heavily on the Rwanda and Tanzania infrastructure. Rwanda has already completed laying its national backbone covering 2,300 kilometres, while Tanzania is still working on a 10,000-kilometre fibre cable infrastructure.
The World Bank initiated the project in late 2008 with a funding of about $ 10.5 million. Two of the five mobile operators in Burundi have already launched 3G broadband services in anticipation of the Internet boom.
In aggregate terms, the developing world will account for 62-64 percent of global saving of $ 25-27 trillion by 2030, up from 45 percent in 2010. Strong saving rates in developing countries are expected to peak at 34 percent of national income in 2014 and will average 32 percent annually until 2030, says the latest edition of the World Bank’s Global Development Horizons (GDH) report
“Despite strong saving levels to finance their massive investment needs in the future, developing countries will need to significantly improve their currently limited participation in international financial markets if they are to reap the benefits of the tectonic shifts taking place,” said Hans Timmer, Director of the Bank’s Development Prospects Group.
The report points out that the productivity catch-up, increasing integration into global markets, sound macroeconomic policies, and improved education and health are helping speed growth and create massive investment opportunities, which, in turn, are spurring a shift in global economic weight to developing countries.
A further boost is being provided by the youth bulge. With developing countries on course to add more than 1.4 billion people to their combined population between now and 2030, the full benefit of the demographic dividend has yet to be reaped, particularly in the relatively younger regions of Sub-Saharan Africa and South Asia.
The good news is that, unlike in the past, developing countries will likely have the resources needed to finance these massive future investments for infrastructure and services, including in education and health care. Strong saving rates in developing countries are expected to peak at 34 percent of national income in 2014 and will average 32 percent annually until 2030.
GDH paints two scenarios, based on the speed of convergence between the developed and developing worlds in per capita income levels, and the pace of structural transformations (such as financial development and improvements in institutional quality) in the two groups. Scenario one entails a gradual convergence between the developed and developing world while a much more rapid scenario is envisioned in the second.
The gradual and rapid scenarios predict average world economic growth of 2.6 percent and 3 percent per year, respectively, during the next two decades, the developing world’s growth will average an annual rate of 4.8 percent in the gradual convergence scenario and 5.5 percent in the rapid one.
In both scenarios, developing countries’ employment in services will account for more than 60 percent of their total employment by 2030 and they will account for more than 50 percent of global trade. This shift will occur alongside demographic changes that will increase demand for infrastructural services. Indeed, the report estimates the developing world’s infrastructure financing needs at $ 14.6 trillion between now and 2030.
“GDH clearly highlights the increasing role developing countries will play in the global economy. This is undoubtedly a significant achievement. However, even if wealth will be more evenly distributed across countries, this does not mean that, within countries, everyone will equally benefit,” said Maurizio Bussolo, Lead Economist and lead author of the report.
The report finds that the least educated groups in a country have low or no saving, suggesting an inability to improve their earning capacity and, for the poorest, to escape a poverty trap.
“Policy makers in developing countries have a central role to play in boosting private saving through policies that raise human capital, especially for the poor,” concluded Bussolo.
Barclays Bank Tanzania has over tripled the money set aside for impairment losses on loans and advances from Tshs 729 million this year's first quarter to Tshs 2.55 billion, thanks to austere measures to cut expenses, the bank managed to post a hefty profit in just three months. The expenses were cut from Tshs 12.92 billion to Tshs 11.6 billion.
The banks financial statement also shows the bank’s net profit in this year's first quarter doubled to Tshs 1.075 billion, despite an increase in the fund set aside for bad loans and advances.
According to the bank, profit increased almost three-fold from Tshs 442million of January-March 2012 to Tshs 1.075 billion of same period this year, on the back of increased net interest income.
The non-performing loans have climbed to Tshs 33.6 billion in first quarter compared to Tshs 31.52 billion of the same quarter last year. The assets in the same first quarter of this year grew from Tshs 577.57 billion to Tshs 634.43 billion mainly attributed to the loan portfolio that reaches Tshs 358.93 billion while deposits reaches Tshs 441.78 billion.
The net income in the said period went up from Tshs 7.025 billion to Tshs 8.01 billion while none income interest slowed down from Tshs 7.25 billion to Tshs 7.22 billion, as fees and commission go down slightly.
Companies from both, Tanzania and Canada are set to enjoy mutual environment in doing business in the respective markets following the move by the two governments to sign the Foreign Investment Promotion and Protection Agreement (FIPA) this week.
This mean, through the inked pact, both countries will help each other’s companies invest with greater confidence in respective markets hence creates more jobs, growth and long term prosperity for Canadians and Tanzanians.
The Agreement was signed by the Minister for Foreign Affairs and International Cooperation, Mr. Bernard Membe and his Canadian counterpart, Mr. John Baird, at a brief ceremony that was also attended by officials from the two countries.
The signing of the agreement is a culmination of six rounds of negotiations which started in Dar es Salaam in March 2007 and ended in Ottawa, Canada, in September 2012.
The FIPA agreement is designed to protect and promote investment abroad through legally binding as well as promoting inward foreign investment by ensuring greater protection against discriminatory and arbitrary practices. "It also enhances market predictability as it provides businesses with greater investment confidence," reads part of the joint-statement.
Now that the agreement has been signed, both countries will proceed with ratification process. The pact will only come into force after each country's domestic approval process is finalized.
Early this week, the Tanzania's Minister of Works, John Magufuli requested more than Tshs 1.2 trillion ($ 756 million) from the government to support an ambitious agenda of road construction and improvements in the 2013-2014 fiscal year.
Major projects include the expansion of the 100-kilometre Dar-Chalinze stretch into a six-lane highway, and the Chalinze-Morogoro stretch into a four-lane highway, for which the ministry has budgeted Tshs 100 million ($ 61,400) for preliminary works.
"The government through Tanroads has already made a request for Expression of Interest for the Dar es Salaam-Chalinze Expressway and 19 companies have already submitted their documents expressing interest to get involved in the project," he said.
Other large projects planned include a 422-kilometre Usagara-Geita-Kyamyorwa road at a cost of Tshs 10.8 billion ($ 6.6 million), and a 443-kilometre Kigoma-Kidahwe-Uvinza-Kaliua-Tabora road at Tshs 51.7 billion ($ 31.8 million), as well an estimated Tshs 21 billion ($ 12.9 million) in repairs to bridges on the country's major trunk roads.
According to Mr. Magufuli, about Tshs 381 billion of the requested amount will go towards recurrent expenditures and Tshs 845 billion towards development.
Impeding the widening of highways, Mr. Magufuli is also seeking to evict people who have illegally constructed houses on road reserves.
Tanzania government is finalizing the preparation of the two universal communication service access tenders that will see millions of Tanzanians connected with basic voice telecommunication service.
According to the Universal Communication Access Fund (UCSAF) Chief Executive Officer (CEO), Engineer Peter Ulanga, under phase 1A tender, the total of over 1,300,000 people, in 168 wards and 936 villages are going to benefit, while phase 1B Tender will benefited 760,000 people in 77 wards and 489 villages.
“The two tenders will be announced by early June 2013 with expectation of rolling out project by September 2013,” he said.
However the fund is also in the plan of putting together phase 2 Tender document targeting 150 wards covering 700 villages with population of about 800,000 people. This tender is expected to be ready for announcement by August 2013.
In celebrating this year’s World Telecommunication and information society Day UCSAF would like to re-iterate its commitment towards bridging the communication gap to the rural and urban underserved Tanzania in order to foster social, educational and economic development.
In a move to expand its footprints to other parts of the country, the established the Universal Communication Service Access Fund (UCSAF) with a view to promote universal access to information and communication technology service in Tanzania.
The fund is responsible for enabling accessibility and participation by communication operators in the provision of communication service, with view of promoting social-economic development of the rural and urban underserved areas and to provide for availability of communication services by establishing a legal framework for universal service provider to meet the communication needs of consumers.
In pursuit of its objectives, early of March this year the fund signed contracts with 4 major telecommunication operators to extend basic voice telecommunication service to 52 wards covering 316 villages without communication.
“With population of over 700,000 people, the contracts demand that communication service should reach the designated wards in the rural Tanzania within six months from the contract date” Eng. Ulanga said.
A Taiwanese company known as Polytron Technologies has created a new prototype phone whose display is sure to garner attention, but not for things like size or resolution.
As noted by Mobile Geeks and The Verge, the firm has crafted a transparent phone prototype that uses Switchable Glass tech, which is an OLED display that utilizes liquid crystal molecules to actually display things on the screen. When the display is off, the molecules are scattered and give off a white, cloudy look. Once an electric current flows through them, though, they line up and can form text and images.
Polytron General Manager, Sam Yu, was recently quoted saying he expects that consumers will see transparent hardware ‘near the end of 2013.’ Yu further said that his company is engaged in serious talks with unnamed "major smartphone makers" in countries like the U.S. and South Korea.
The company doesn't plan to stop at smartphones, either, as Yu said that the firm plans to introduce a prototype tablet with a transparent display in the coming weeks.
Polytron certainly isn't the first company to attempt to bring transparent phones to market, as Sony Ericsson actually introduced a handsetknown as the Xperia Pureness in 2009, though that device's display is a bit smaller than the one on Polytron's prototype.
Whether or not phones with Polytron's tech would be more successful with consumers than the Xperia Pureness is a mystery. There would almost certainly be some people that'd purchase the devices just because it's transparent, but Polytron and the manufacturer(s) would likely need to come up with reasons as to why potential buyers should select the transparent smartphone over a more traditional handset.
Upon confirming the Galaxy Mega 5.8 and 6.3, Samsung has finally revealed that the two jumbo-sized devices would launch in July globally.
The Samsung Galaxy Mega 6.3 has a 6.3-inch LCD display with 720p resolution, a 1.7 GHz dual-core CPU, 1.5 GB of RAM, as well as 8 or 16 GB of storage space, expandable via a microSD slot. The Mega 6.3 also features an 8 megapixel rear camera, a 1.9 front one, and runs Android 4.2 Jelly Bean with the TouchWiz interface.
It’s smaller, but not small by any means, counterpart has a 5.8 inch display with qHD resolution (960 x 540 pixels), a 1.4 GHz dual-core processor, and 1.5 GB of RAM.
The expandable internal storage is 8 GB, and the cameras are also 8 and 1.9 megapixel ones. The Samsung Galaxy Mega 5.8 also runs Android 4.2.
Smile Group CEO, Irene Charnley (centre), briefing reporters during the official launch of the (4G LTE) broadband network in Tanzania. Looking on is the Country Manager of Smile Tanzania, Ms. Fiona McGloin (left) and Head of Network Planning of Smile Mr. Madaha Francis (right).
Smile Communications Tanzania (Smile TZ), a subsidiary of Smile Telecoms Holdings Limited, has finally launched the first commercial Fourth Generation Long Term Evolution (4G LTE) broadband network in Tanzania.
The Smile 4G LTE network uses the most advanced telecommunications technologies and standards available anywhere in the world, and will provide unparalleled speed, reliability, quality and ease of use.
According to Smile Group CEO, Irene Charnley, the true benefits of 4G LTE lie in the radically improved user experience, and the ability of this global technology standard to enhance access to the most advanced form of communications whilst substantially reducing the costs of operations.
“4G LTE is making the internet come alive for our customers due to the quality of the user experience. Surfing the internet, downloading music and movies without buffering, communicating via HD voice or uninterrupted HD video calling - the internet experience has become better, faster, easier, and more reliable,” Ms. Charnley said during the launch yesterday.
According to Ms. Charnley, the introduction and accessibility to this ground-breaking 4G LTE technology will give impetus to Tanzanians and Tanzania to reach their full potential whilst simultaneously accelerating mobile broadband penetration across the continent, thereby boosting major economic activity. We’ve been waiting and hoping for the future, with 4G LTE, the future is here!
4G LTE enables ultra-high-speed internet access, accelerating broadband penetration and vastly improving the online experience. The 4G LTE standard is at the cutting-edge of mobile telecommunications. The inherently flexible and constantly evolving nature of 4G LTE guarantees that it will remain the gold standard in mobile data and voice services for years to come.
In 2012, Smile began revolutionizing communication in East Africa when it chose Tanzania as the first country in Africa in which to deploy its 4G LTE broadband network. After more than a year of extensive testing and valuable feedback provided by techno-savvy trial customers, Smile made its 4G LTE broadband network commercially available to its current customer base which ranges from SMEs and households, to hotspots and individuals in Dar es Salaam. Smile 4G LTE is now commercially available across Dar es Salaam.
Ms. Fiona McGloin, Country Manager of Smile Tanzania, sees the introduction of 4G LTE as another major milestone in the development of East Africa and the continent as a whole. “Our experience in providing services to our customers over the past 6 months in Dar es Salaam has demonstrated that access to the best, most flexible, fastest technology anywhere in the world results in increased usage and demand for broadband,” she says.
She said that the company was founded on a simple vision – to provide affordable, high quality and easy-to-use broadband internet access and communication services to everyone across Africa, using low cost and innovative business models and the latest technologies. “Today is a major milestone in making that vision a reality,” Ms. McGloin
Smile Communications already has a presence in five countries across Africa, including Tanzania.
The Smile 4G LTE broadband network, which already covers Dar es Salaam, will be rolled out in phases across Tanzania over the next two years.
Customers wishing to join the Smile LTE experience can visit the Smile shops at Regent Business Park (Mikocheni), Viva Towers (Upanga) or Shamo Trade Tower & Shopping Center (Mbezi Beach). Smile kiosks are located at Shoprite Supermarket (Mlimani City Mall) and TSN Supermarkets (Bamaga, Upanga, Baraka Plaza, and Tegeta).
Uchumi Supermarket, one of the leading supermarket chains in East Africa has announced plans to cross list on the Tanzania, Uganda and Rwanda bourse in August this year, joining other eighth Kenyan company already cross listed in other East Africa countries.
The others cross-listed ones are Kenya Airways, Kenya Commercial Bank, Nation Media Group, Diamond Trust Bank, East Africa Breweries, Jubilee Insurance and Centum Investment.
The cross listing will be followed by fresh cash call on the shareholders in November. Currently the company is listed on the Nairobi Securities Exchange.
According to the group chief executive officer, Jonathan Ciano, the cross listing and rights issue was approved by shareholders in December, with an initial target of Kshs 1.5 billion for the 100 million new shares at a discounted price of Kshs 15.
But he said the chain is hoping for more with no specific target yet. "The amount will be determined by the investor appetite and once the share price is valued the appetite for the share in different countries will also determine what percentage of the rights shares they get," Ciano said.
He further said that, Faida Investment Bank will be the lead transaction advisor and sponsoring broker while Equity Bank will be the receiving bank.
Uchumi already has operations in Uganda and Tanzania. It targets to open 13 more branches in the next one year across the region. The company is counting on small retail investors across East Africa as it seeks to raise cash for expansion.
"But we do not measure our growth by the number of branches but by the growth volumes, once you grow the business volume, all the other parts follow," he said.
PPC Ltd. the South Africa’s biggest cement maker has embarked in a move that will see four new plants being installed in Congo, Rwanda, Ethiopia and Zimbabwe by the end of 2015, while expanding capacity to as much as 11 million tons from 8 million tons.
The group strategy is far better defined with regard to plans for expanding the business in the rest of Africa, where cement demand is expanding along with far higher levels of economic growth.
PPC is aiming to earn 40% of its revenues from the rest of the continent by 2016/17 and is moving ahead with projects in Congo, Ethiopia, Rwanda and Zimbabwe.
The new $ 200 million plant in Democratic Republic of Congo, will have the capacity of about 1 million metric tons and will be near Kinshasa. Construction of the new Congo plant will start by the end of 2013 in partnership with China’s Sinoma International Engineering Co. (600970).
“PPC Ltd plans to tap the capital market for a further 650 million rand ($ 69.5 million) after an initial auction of about the same amount in March,” the capital city, PPC’s Chief Executive Officer, Ketso Gordhan said.
He said however, progress had also been made in dealing with the financing constraints that had delayed the construction of the Habesha cement plant, in Ethiopia, where construction should now commence in October.
The group was ‘ahead of the curve’ in Rwanda, following the acquisition of that country’s only cement producer, Cimerwa; while an investment decision on another one-million-ton facility about 120 km north-east of Harare, in Zimbabwe, would be taken after elections in that country.
The company marked its centenary in Zimbabwe in February, where progress had been made on ensuring compliance with emerging indigenisation legislation.
Gordhan confirmed that the group would retain 70% ownership, having received credit for its domestic listing and an employee share-ownership scheme.
The company is expanding in new countries to boost income amid tougher competition in South Africa. “We are exploring ways to add momentum to the execution of South Africa’s multibillion-rand infrastructure programme, on which the immediate outlook for domestic cement demand rests.
As emerging economies catch up to richer nations and become more integrated into financial markets, the percentage of global investment that goes to developing countries should triple in the next two decades, the World Bank predicted in a report.
According to the report, these emerging markets and their comparatively younger and bigger populations are also set to become the largest sources of capital, with China and India turning into the world's two biggest investors by 2030.
The numbers assume the emerging economies will grow 4.8 to 5.6 percent a year while the world will grow on average 2.6 percent to 3 percent a year in the next two decades.
"The big question that should concern us all is what will happen to the major drivers of growth and development: namely savings and investment," Kaushik Basu, the World Bank's chief economist, told reporters ahead of the report's release.
He said that in some sense, some of the global economic turmoil that we are seeing today is some of the early indicators of the kind of turbulent period that the world is going into.
The shifting landscape of saving and investment has profound implications for everything from which currencies will dominate global markets to the rise of new financial centers, patterns of capital flows and investment priorities.
“But policymakers are still woefully unprepared for the changes, fixating instead on what will happen in the next three to six months,” Basu said.
By 2030, for every dollar invested in the world, 60 cents will flow into developing countries, a dramatic change from 20 cents to the dollar in 2000. China will make up 30 percent of all investment activity, while the United States will have 11 percent and India, 7 percent.
As more capital flows from one developing country to another, known as South-South flows, China's yuan currency and its monetary policy will have a greater impact on the rest of the world, reducing the influence of U.S. and euro area policies.
A richer world in 2030 will also have a greater demand for services over manufacturing, meaning countries will face pressure to reduce protectionist barriers to trade in services, the World Bank said.
But shifts in global saving may not be equally distributed in each country, warned lead report author, Maurizio Bussolo -- a key concern for the poverty-fighting World Bank. In most developing countries, the top segment of the population saves three to four times more than the poorest.
Governments must make an effort to level the playing field in education, which has a strong correlation with higher earnings, savings and future wealth, he said.
ZTE, a Chinese phone maker, has revealed its latest flagship smartphone, the Android powered Grand X2 In, that has a 2GHz Intel Atom processor.
"We are excited to extend our collaboration with ZTE on their latest innovative platform, the new Grand X2 In. Our teams have worked together to harness the power of the Intel Atom processor Z2580 to create a high performance smartphone with market-leading features and long battery life. The Grand X2 In, will provide an excellent choice for consumers in fast growing smartphone market," said Helmut Vogler, Vice President and General Manager of mobile and wireless sales at Intel.
Although the version is still to be revealed, the handset runs Google's Android Jelly Bean mobile operating system. The smartphone comes powered by a 2GHz Intel Atom Z2580 processor as the firm looks to challenge Motorola and Lenovo.
ZTE, which apparently thought it would be a good idea to announce the phone during Google I/O, unveiled the handset to little fanfare, despite its top-end specifications.
A 4.5in 1280x720 HD screen sits at the forefront of the ZTE Grand X sequel, and buyers will also find a 2,000mAh battery, 1GB of RAM and 8GB of internal storage expandable to 32GB.
ZTE has been keen to talk up the 8MP camera on the device too, claiming 24 frames per second (fps) shooting with no shutter lag. There's also a 1MP front-facing camera on the phone, for taking advantage of applications like Google's new Hangouts app.
Phumelele Mbiyo Regional Head, East Africa: Macroeconomic Research for Stanbic Bank Tanzania answering a question from participants (not in picture) during Tanzania Economic Forum held in Dar es Salaam yesterday. The one day forum organized by Stanbic Bank Tanzania had the theme “Powering the structural transformation of the economy”. On his left is the Director and Head of Corporate and Investment Banking, Shose Sinare and on his immediate right is Standard Bank Chief Economist, Goolam Ballim, followed by left is Stanbic Bank Tanzania Head of Marketing and Corporate Affairs, Abdallah Singano.
Tanzania is expected to achieve micro-economic stability in a few months to come following the government move to reduce inflation rate to single digit.
“The inflation rate is now coming down...the decline shows that interest rates are going to come down systematically, which means there will be more stability in economy,” Phumelele Mbiyo, Regional Head-Macroeconomic Research, Stanbic Bank Tanzania said during an economic forum organized by the bank.
He said that micro economies are the fuels of growth in emerging economies, therefore Tanzania is assured of sustainable growth more than ever before.
Mr. Mbiyo said that, over the course of this year, there is the possibility for the inflation rate to depreciate more due to the fact that food production is going up, oil prices are likely to go down, electricity supply is going to be stable, hence give more opportunity for the micro-economy to experience growth.
He further advised the government to positively embrace a tight monetary policy so as to stabilize the shilling and keep inflation in check.
Statistics show that Tanzania’s economy has been growing at a rate of 6 to7 percent for about a decade now. Economically speaking, 6 or 7 percent is an impressive record in growth, but it does not necessarily lead to economic development.
“Tanzania has to embark on infrastructure development so as to beef up its development strategies. I would advise the government to use the discovered natural gas for power production so as to speed up the development of the country,” Goolam Ballim, Standard Bank Chief Economist said.
He said that when the country becomes more stable locally, it becomes easier to attain more growth for the good of the country. “The manufacturing sector for example, is likely to grow at a good speed following the government decision to use the gas resource in producing power,” Mr. Ballim explained.
Mr. Ballim further said that, Africa is now stepping ahead to become the new center of the global economy, therefore Tanzania has to take advantage of the trend to connect itself to the rest of African continent and the global economy.
In the last five years to December last year, Sub-Saharan Africa was the second fastest growing region in the world. This evidences that Africa is now becoming independent from external sources.
During the same period Africa has grown by 40%. The current trend shows that the global economy is going to suffer from global recession in coming years, but Africa is still showing resilience.
For the past 10 years, the Bank of Tanzania (BoT) has been announcing promising growth figures that have been supported by both the World Bank and International Monetary Fund.
Stanbic Bank Tanzania, although a private entity, has been a major player in equipping its clients with the required skills to making decisions that will positively influence their businesses through the economic forum which is organized annually
The Zantel Commercial Director for Zanzibar, Mohamed Mussa handing over a Modem of 3G to Mr. Simai Jarabu Idd, one of the winner of ‘Recharge and Win,’ promotion.
The first batch of winners of Zantel promotion, ‘Recharge and Win,’ that was launched early last week have been rewarded their prize.
Speaking at the event, Zantel Commercial Director for Zanzibar, Mohamed Mussa said the rewards were part of Zantel’s appreciation to their customers.
“These prizes are a token of how much we appreciate our customers and that, by using Zantel, one is able to communicate with their loved and stand a chance to win prizes,” said Mussa.
The winners, who were presented with prizes, were Miss Mwanamvua Suleiman from Fuoni who won 1 million worth of airtime, Rashid George who won a Huawei Media Pad and five other daily winners of 3G modems, Simai Iddi, Abdallah Juma, Subira Sheha, Zahor Mzee and Zainab Ali Machano.
Zantel Chief Executive Officer, Pratap Ghose, congratulated the winners and urged them to continue using Zantel services. “Our aim is to make communication in Tanzania affordable and as a result improve our customer’s welfare.”
The promotion’s grand prize is a car to one lucky winner, and to participate, Zantel customers simply has to recharge through scratch or MIMINA a denomination of 1000 Tshs or more, and they will automatically enter the draw to win the prizes.
During the promotion, other winners will also be able to win Scooters, Huawei Media pads, 3G modems and 1 million worth of airtime daily and weekly basis.
President of the United Republic of Tanzania, Dr. Jakaya Mrisho Kikwete (Right) in a deep discussion with the Managing Director for Vodacom Tanzania, Rene Meza during the fundraising dinner for Smart Partnership that will be held in May this year in the nation's commercial capital, Dar es Salaam. More than 500 stakeholders from various countries in the world are expected to take part.
GSMA has finally established an office in Nairobi, Kenya to support growing African telecoms market. The office will be based in the heart of Nairobi's Innovation Hub (iHub) for the technology community and will enable the GSMA to work even more closely with its members and other industry stakeholders to extend the reach and socio-economic benefits of mobile throughout Africa.
“It is an exciting time to launch our new office in Africa, as the region is an increasingly vibrant and critical market for the mobile industry, representing over 10 percent of the global market,” said Anne Bouverot, Director General, GSMA.
She said that the rapid pace of mobile adoption has delivered an explosion of innovation and huge economic benefits in the region, directly contributing $ 32 billion to the Sub-Saharan African economy, or 4.4 percent of GDP. “With necessary spectrum allocations and transparent regulation, the mobile industry could also fuel the creation of 14.9 million new jobs in the region between 2015 and 2020,” she said.
According to the latest GSMA’s Wireless Intelligence data, total mobile connections in Sub-Saharan Africa passed the 500 million mark in the first quarter of 2013, increasing by about 20 percent year-on-year. Connections are expected to grow by a further 50 percent, or 250 million connections, over the next five years which requires greater regulatory certainty to foster investment and release of additional harmonized spectrum for mobile.
The region currently accounts for about two-thirds of connections in Africa but the amount of spectrum allocated to mobile services in Africa is among the lowest worldwide. Governments in Sub-Saharan Africa risk undermining their broadband and development goals unless more spectrums are made available.
However, despite the high number of connections, rapid growth and mobile internet usage, mobile penetration among individuals remains relatively low. Available statistics shows that fewer than 250 million people had subscribed to a mobile service in the region, putting unique subscriber penetration at 30 percent, meaning that more than two-thirds of the population have yet to acquire their first mobile phone. Clearly, there is an important opportunity for the mobile industry to bring connectivity, access to information and services to the people in this region.
The mobile industry contributes approximately 3.5 million full-time jobs in the region. This has also spurred a wave of technology and content innovation with more than 50 ‘innovation hubs’ created to develop local skills and content in the field of ICT services, including the Limbe Labs in Cameroon, the iHub in Kenya and Hive Colab in Uganda.
“Of particular note is the role of Kenya as the global leader in mobile money transfer services via M-PESA, a service launched by the country’s largest mobile operator Safaricom in 2007. What started as a simple way to extend banking services to the unbanked citizens of Kenya has now evolved into a mobile payment system based on accounts held by the operator, with transactions authorised and recorded in real time using secure SMS. Since its launch, M-PESA has grown to reach 15 million registered users and contributes 18 percent of Safaricom’s total revenue,” Ms. Bouverot said.
She said that to support this huge increase in innovation, the mobile industry has invested around US$ 16.5 billion over the past five years (US$ 2.8 billion in 2011 alone) across the five key countries in the region, mainly directed towards the expansion of network capacity.
GSMA research has found that by releasing the Digital Dividend and 2.6GHz spectrum by 2015, the governments of Sub-Saharan Africa could increase annual GDP by US$ 82 billion by 2025 and annual government tax revenues by US$ 18 billion and add up to 27 million jobs by 2025.
In many Sub-Saharan African countries, mobile broadband is the only possible route to deliver the Internet to citizens and the current spectrum allocations across the region generally lag behind those of other countries.
“A positive and supportive regulatory environment and sufficient spectrum allocation is critical to the further growth of mobile in Africa,” continued Ms. Bouverot. “I am confident that now that we have a physical presence in Africa, we will be able to work together with our members to put the conditions in place that will facilitate the expansion of mobile, bringing important connectivity and services to all in the region.”
Tanzania is now set to become a region hotbed for gas discoveries following the government move to offer seven deep offshore blocks and one onshore block in October for oil and gas exploration.
According to the statement by the state-run Tanzania Petroleum Development Corporation (TPDC), the seven deep offshore blocks - Block 4/2A, Block 4/3A, Block 4/3B, Block 4/4A, Block 4/5B, Block 4/5A and Block 4/5B - have areas of approximately 3000 square km each and are located in waters up to 3,000 metres deep. Another two offshore blocks - Block 4/1B and Block 4/1C - would be reserved for the government, which will later seek strategic partners.
The onshore block is North Lake Tanganyika, located on the Tanzanian side of Lake Tanganyika.
The round will be launched on October 25, 2013 and will run until May 15, 2014. The round was a revival of an auction that was slated for September 2012 but then postponed as Tanzania formulated a new oil and gas policy.
Gas strikes off East Africa's seaboard have led to predictions the region could become the world's third-largest exporter of natural gas.
Tanzania, East Africa's second-biggest economy, estimates it holds over 33 trillion cubic feet (tcf) of recoverable natural gas reserves.
London-listed BG Group and its partner Ophir Energy and Norway's Statoil and partner ExxonMobil are the latest to strike to gas off Tanzania's shores.
In a program that would enable the Swala oil & gas company to gain a better overall understanding of its Kilosa-Kilombero and Pangani licenced areas in Tanzania, the company has awarded Canada’s Polaris International a $ 7.3 million contract to carry out 2D seismic acquisition programme into the area, Davis Mestres Ridge, chief executive of Swala Oil & Gas, said.
He said that, the project is expected to be conducted from June to September this year.
The firm, which operates the licences on behalf of Australian joint venture partner Otto Energy, said the contract included 300km of 2D seismic in Kilosa-Kilombero and 200km in Pangani.
The Kilosa, Kilombero and Kidatu basins, each covering about 2,000 sq km, were identified in Kiloso-Kilombero licence. Two further basins were identified in the Pangani licence.
Airborne gravity-magnetic surveys conducted in 2012 had confirmed the likely presence of significant sedimentary basins in both licence areas.
The OX has an unusually wide track to ensure stability on badly rutted roads
Global Vehicle Trust's (GVT) ambition to help people in the developing world by providing cost-effective mobility for communities to undertake crucial daily tasks, such as collect drinking water and transporting grain, fertilizer or building materials has come into reality after the company revealed an unconventional 'flat-pack' all-terrain light truck bubbled OX.
According to the company, the truck could benefit people living in remote villages and townships across Africa and other parts of the developing world. Designed and built in Britain, the OX is unlike any other vehicle and has no competitor - whether from a concept, performance or pricing point of view.
The revolutionary nature of the OX programme extends beyond the vehicle itself and uniquely, the OX is capable of being flat-packed within itself. That means there is no requirement for an expensive box or individual pallets for transportation, ensuring freight costs can be kept to a minimum.
Six OX vehicles, including engines and transmissions, fit into a standard 40ft hi-cube container. In addition, assembly labour is transferred to the importing country, where local professional companies will be found to assemble and maintain the finished vehicles.
Designed to be at home on the roughest terrain, the OX has a high ground clearance and short front and rear overhangs to tackle the steepest inclines.
Independent suspension, front and rear, allows easy transit over rough ground, while the uncluttered underside ensures that sand, mud and other hostile surfaces do not obstruct progress.
With an overall length similar to an average family car, the OX weighs just 1.5 tonnes. It has front-wheel drive and is powered by a 2.2 litre diesel engine with a manual transmission. Unladen, 73% of the OX's weight is over the front axle and when fully loaded 53% is still over that axle contributing to excellent traction in both conditions.
The driving force behind GVT and the OX is Sir Torquil Norman, founder of the Norman Trust which raised more than £ 30 million to transform the Roundhouse in Camden Town into a media skills training centre and one of London's most popular venues.
"My inspiration for the OX goes back to the 'Africar' project of the 1980s. The OX became a dream three years ago and is now a realistic ambition with a working prototype that has already completed its initial testing programme," says Sir Torquil Norman.
"We have spent around £ 1 million bringing the OX to the working prototype stage and we need a further £ 3 million to take the project through to a production-ready status," said Sir Torquil. This is why we are now 'going public' to highlight the need for investment and support in order to progress the project to completion.
Although initially planned and designed for developing countries, there has subsequently been a realization that there is likely to be the demand for fully-assembled vehicles in some European markets. It is anticipated that OX will appeal to farmers, estate owners and others due to its huge carrying capacity and ability to traverse rough terrain.
The OX can drive through 75 cm depth of water and has a very wide track to ensure excellent stability on badly rutted roads. Maximum payload is 2.0 tonnes, and following EU size guidelines, the OX can seat up to 13 people or carry eight 44 gallon drums or three Euro pallets. It has a simple power take-off capable of pumping water, sawing wood or running a generator.
Dr. Charles Kimei, Managing Director of CRDB Bank
Managing Director of CRDB Bank, Dr. Charles Kimei, has affirmed the stakeholder that the bank’s total assets are expected to grow by 17 percent by the end of 2017 on the back of adequate capital and liquidity levels.
According to Dr. Kimei, the Bank will continue to focus on achieving operational effectiveness and customer experience while maintaining its core business model in order to attain the prospects.
“Achieving the 17 percent assets growth, the bank will emphasize on consolidating improvements made on credit risk management processes to further reduce the non performing loans (NPL) ratio to less than 5 percent,” he said.
When addressing the shareholders in Arusha over the weekend, Dr. Kimei noted that the Bank has witnessed an improved performance with significant growth in customer deposits especially from government institutions and a growing customer base as well as an increasing loan portfolio.
“Our interest income grew by Tshs 73.3 billion to Tshs 261.7 billion while the net interest income rose to Tshs 206.2 billion in the year 2012 compared to Tshs 153 billion recorded in 2011,” Dr. Kimei said.
He however noted that the loan impairment remained a challenge to the bank. The management is steadfastly working to reduce it to not more than 5 percent of the loan portfolio which stood at Tshs 1.807 billion as of December 2012.
The bank’s net interest income after loan impairment charges increased from Tshs 122.2 billion in 2011 to Tshs 179 billion in 2012. On the other hand, fees and commissions income grew from Tshs 62.8 billion in 2011 to Tshs 75.2 billion in 2012.
Dr. Kimei said the bank remains steadfast in implementing activities aimed at ensuring growth in personal, retail, microenterprises and SMEs business.
Late last year, the bank launched its first subsidiary outside the Tanzanian boarders in Burundi’s capital Bujumbura joining the list of fast growing banks in the region.
The Bank’s venture into Burundi was a deliberate move to tap the growing business between Tanzania and the land-locked Burundi since majority of imports to Burundi come through the port of Dar-es Salaam.
“Our Burundi subsidiary deposits and total assets as of December 2012 stood at Tshs 1.12 billion and Tshs 18.65 billion respectively. With less than one month of operation, the net loss for the year stood at Tshs 0.3 billion which is within our expectations,” said Dr. Kimei.
In another development, shareholders of the bank have approved a dividend payment of Tshs 12.0 per share, a 30 percent increase from 2011, proposed by the board during the Annual General meeting (AGM) held in Arusha.
“This follows the bank’s impressive performance in the 2012 financial year after it posted a Tshs 107.7 billion pre-tax profits which is an increase of 111 percent compared to the previous financial year which stood at Tshs 51.0 billion,” CRDB Bank Plc Chairman of the Board, Martin Mmari said.
He attributed the growth in profit to the ‘revival of foreign exchange related income to its normal trend, growth in net interest income and fees and commissions coupled with strong cost management’.
“We are focused on ensuring high shareholders return as reflected by earnings per share and partly by the dividend paid per share. We recommended a Tshs 12.0 per share and I am happy to note that the same has been approved by the shareholders,” said Mmari.
He said that the total amount of dividend recommended is Tshs 26.1 billion as compared to Tshs 19.6 billion paid out in 2011 and this signals a strong and progressive growth in earnings per share (EPS) and dividends per share (DPS).”
According to a statement by the bank, shareholders also retained PriceWaterhouseCoopers (PWC) as the bank’s auditors for the financial year 2013.
Head of Communications for Zantel, Awaichi Mawalla, addressing the media during the launch of Zantel’s Bonus Balaa promotion held in Dar es Salaam recently. Looking on is the Director of Zantel in Zanzibar, Mohamed Mussa.
Customers all-over the country have wowed the recent launched offer by Zantel’s dubbed ‘Bonus Balaa’, saying that the offer have been of great value to them as they have been able to communicate freely with their relatives, friends and business partners without any added cost.
“The cost of living is high, we have plenty of bills to settle...the comming of this offer have given us a reason to communicate and be closer to those we care. So we appreciate the effort done by Zantel to offer this unique service,” said Aman Mgaya, one of the customers of Zantel in Zanzibar.
The offer enables customers to get airtime twice in their phones after recharging. The bonus airtime allows customers to make calls to all networks hence reduces communication costs.
“Before the offer came into effect we used to recharge and spend alot to communicate. But now we are free and flexible to communicate all day long, thank to Zantel,” Peter Chifukusu, a resident of Mwanza told Corporate Digest.
The airtime offered, which is equal to an increase of 100 percent of which Zantel customers will get after recharge ranging from Tsh 1,000 or more, will be used within 30 days.
“We have set 30 days so as to enable our customers to spend his money only when they feel like doing it,” the CEO for Zantel, Mr. Sajid Khan, insisted.
Meanwhile, customers of Zantel have started to win great prizes in the ongoing promotion called ‘Kwangua na Ushinde’ in Zanzibar.
During the promotion the grand winners will have chance to walk away with a brand new car, while other winners will be getting prizes every day such as airtime worth Tshs 1 million, motorcycle (Vespa), Laptop computer (Huawei Media pads) and Zantel modem 3G.
To take part in the promotion, new and old customers of Zantel should keep on recharging their airtime ranging from Tsh 1,000 or more so as to enter the draw.
While Tanzania is striving to see promising economic growth shown by various statistics, reflected into the lives of its people, Stanbic Bank Tanzania has organized an economic forum to equip its clients to be better players in the development of the country.
Recognizing the need to prepare Tanzanians to participate fully in the transformation process, the bank chose a theme of this year’s forum to be, ‘Powering the structural transformation of the economy’.
According to the Stanbic Bank Tanzania Head of Marketing and Corporate Affairs, Abdallah Singano, the forum will take place today (Wednesday the 15th )at Hyatt Marquee .“We are using this forum to educate our clients so that they are better armed to make informed decisions for their businesses. This will mould them to becoming better players in the economic transformation of this country,” said Mr. Singano.
He mentioned presenters for the forum to be, Goolam Ballim, Standard Bank Chief Economist and Phumelele Mbiyo, Regional Head, East Africa Macroeconomic Research.
For the past 10 years, the Bank of Tanzania (BoT) has been announcing promising growth figures released by the World Bank and International Monetary Fund.
Statistics show that Tanzania’s economy has been growing at the rate of 6-7 percent for about a decade now. “Economically speaking, 6-7 percent is an impressive record in growth, but it does not necessarily lead to economic development. Economists have to look for ways of bridging the gap,” Mr. Singano said.
Stanbic bank Tanzania, although a private entity, has been a major player in equipping its clients with the required skills to making decisions that will positively influence their businesses through the economic forum which is organized annually.
The Mayor of Ilala Municipal, Mr. Jerry Silaa, giving a key note during the launch of DStv offices at Kariakoo branch. He praised the move by DSTV to open a new office at Kariakoo as well as introducing digital television in the country. The Kariakoo branch is located adjacent to Msimbazi and Sikukuu road.
The Mayor of Ilala Municipal, Mr. Jerry Silaa, showing the DStv receipt soon after paying his bills at a new launched DStv office at Kariakoo. Looking on is the Chairperson of MultiChoice Tanzania, Ambassador Ami Mpungwe and some of employees of DStv.
Some of DStv employees at a group photo during the launch of Kariakoo branch
Tanzania National Microfinance Bank (NMB) Igunga branch in Tabora region, has provided 102 desks worth Tshs 10 million to two secondary schools in the district.
Handing over the desks recently to the District Commissioner for Igunga, the branch Manager for NMB Igunga, Mr. Lukanga Makusu, said NMB has provided the support of desks as a way of joining hands with the government’s effort to eradicate the problem of shortage of desks and reverse the situation in the country.
School that benefited from the support includes Hanihani secondary school in Igunga urban, which received a total of 50 desks, and a secondary school in Mbutu ward which got 52 desks.
“We (NMB) have been seeing the efforts that have been made by the government, therefore it is our responsibility to support the government move in its efforts to create conducive learning environment for students,” Mr. Makusu said.
He pledged that the bank will continue to provide support to different schools in Igunga.
District Commissioner for Igunga, Elibariki Kingu, thanked the bank for the support noting that the desks came at the right time. The desks you have donated will help to reduce the current shortage of desks in schools.
While it continues negotiations with a potential cornerstone investor, Peak Resource is set to use about $ 2.5 million to advance the Pre-Feasibility Study for its Ngualla Rare Earth project in Tanzania.
The funds were raised through a placement of about 20.8 million shares priced at $ 0.12 each to sophisticated or professional investors.
“The fund will enable us to continue to meet Pre-Feasibility Study milestones whilst we look to complete the funding agreement with the cornerstone investor. The Pre-Feasibility Study has scheduled delivery date in the September quarter of 2013,” executive chairman, Alastair Hunter said.
He further said that, this fund raising will allow the company to maintain momentum on the Ngualla Project, in particular completing pilot plant work at ANSTO, producing refined products for customer verification and enabling us to continue to meet Pre-Feasibility Study milestones whilst we look to complete the funding agreement with the cornerstone investor.
The non-binding Memorandum of Understanding with the cornerstone investor contemplates the Ngualla Rare Earth Project being fully funded through to production and is expected to comprise of three funding tranches, which will be received in line with the development stages as defined in Peak’s 3 December 2012.
Stage one will focus on the Pre-Feasibility Study, which is in progress while stage two will be on the definitive feasibility study and stage three will concentrate on the construction of the Project.
Exim Bank Tanzania Managing Director, Mr. Anthony Grant.
Exim Bank, Tanzania’s sixth largest bank by total assets and deposits, has opened a Tanzania-China Trade Window that will help in facilitating trade operations between the two countries.
According to a statement issued by the Exim Bank Tanzania Managing Director, Mr. Anthony Grant, the new window will offer clients a more convenient way to make import and export bill settlements in Chinese Yuan Renminbi (CNY/RMB).
Grant noted that his bank has already entered into partnership with Hongkong based bank, HSBC, adding that the new facility will offer better exchange rates to traders between the two countries.
“The setup of Tanzania- China Trade Window is part of our strategy to support the fast-growing banking needs of Tanzania and Chinese traders. With this new window, traders from Tanzania and China will have a convenient banking platform to send and receive cash,” he said.
Grant said his bank came up with the idea of opening the Tanzania-China Trade Window, following an increase in trade volume between Tanzania and China in the recent years.
“We believe the Exim Bank- China Trade window will be a catalyst in doubling trade between the two countries in the next few years to come,” he said.
He said that this new window will offer better negotiation opportunities and transparent pricing deals to Tanzanians with suppliers or buyers in China and other trade related services.
According to statistics from the Bank of Tanzania (BoT), Tanzania’s exports to China increased from Tshs 101 billion in 2005 to Tshs 908 billion in 2010, a nine-fold upswing, while imports from Beijing rose from Tshs 245 billion to Tshs 1.213 trillion, went up five times over the same period.
A survey released by HSBC recently however noted that by 2015, one-third of the China’s international business transactions will be made in the renminbi. The bank adds that 30 percent of the China’s trade, equal to about $ 2 trillion, will be transacted in the renminbi.
More than 10,000 financial institutions globally are currently doing business in renminbi, up from 900 in June 2011, and offshore investments in the currency, almost nonexistent three years ago, now tops $ 143 billion.
Stanbic Bank Tanzania, one of the giant banks in the country, has reported that during its first quarter of 2013 the total income of the bank grew by 43 percent as compared to same period last year.
According to the bank, this new development was mainly attributed by the increase in the net interest income, which grew by 15 percent despite the tight liquidity conditions in the market and the increased cost of funding that the banking industry is currently facing.
The bank says, noninterest income including fees and commission as well as trading revenue grew by 84 percent, mainly due to increased investment and banking transactions which led to fees and commission alone to grow by 194 percent as compared to previous year.
“High inflation in the market and increase in number of branches as compared to prior year has lead to the 13 percent growth in operating expenses. Management has put in place cost containment measures to ensure operation costs are well managed and kept within approved levels and any growth should be explained by growth in business and level of inflation,” read part of bank’s report.
The bank says; despite all the above good performance indicators, we acknowledge stress in the unsecured lending market for personal and business banking which has largely created an increase in the levels of Nonperforming loans from Tshs 15 billion in previous quarter to Tshs 30.9 billion this quarter, thus an increase in credit impairments which grew to Tshs 18.6 billion as compared to Tshs 1.9 billion reported in the same quarter prior year.
“This is mainly caused by unsecured lending done in the SME market. The aim of the product was to support the SME market in the country, however, due to continued stress on borrowers, caused by high inflation rates, led to high cost of funding as well as high interest rates on loans,” the bank said.
While the bank has taken a conservative view in making the above provisions, the management of the bank is also working towards vigorous recovery efforts and are positive that the efforts will achieve positive results.
“The bank continues to be committed to support business growth in the country as well the Government goals on creating employment and supporting the public and private sector development plans,” the bank said.
Mr. Rene Meza said, Vodacom Tanzania Managing Director.
Vodacom Tanzania has started an M-Pesa Campaign Program that will enable customers using the M-Pesa service get training on mobile phone banking.
Some of the banks involved during this campaign, and that are also M-Pesa partners, include CRDB Bank PLC, Akiba Commercial Bank (ACB), Amana Bank, Tanzania Postal Bank (TPB), NMB Bank Limited and Standard Chartered Bank (SCB).
Throughout the campaign Vodacom will be involved with sharing with customers on the benefits of making use of M-Pesa to make banking transactions such as depositing and withdrawing cash.
Customers from several commercial banks in the country that are connected to M-PESA service will have a reason to enjoy the utilization of the service, as Vodacom Tanzania started offering training on how to use and make bank transactions and thus reduce discomfort of the queue, fare and save time.
“M-Pesa service has enabled banking services to be accessible and convenient to customers, this is a great success that we would like our customers to be proud of and also have a chance to see the fruits of the network which differ from others,” Vodacom Tanzania Managing Director, Mr. Rene Meza said.
“Our campaign for M-Pesa banking, among other things aims to ensure every customer, who also has an account on one of the banks that use this service, is aware and knowledgeable on how to use the M-Pesa so as to reduce costs and discomfort,” adds Meza.
Meza further adds that M-Pesa has eased lives dramatically and that the same convenience must reach out to every customer as Vodacom continues to accelerate innovations to enable the service to have more things that make a meaningful and significant difference in purpose of making life easy.
“M-Pesa has been sparking and growing rapidly due to safety, speed and accessibility among others. Today, we have over 40,000 agents spread across the country,” Mr. Meza said.
Emirates, one of the giant airline operators in the world, has come up with the offer that will allow passengers in Tanzania to select destinations with as little fare as $ 578 for a return economy class ticket inclusive of taxes.
The special offer is valid for round-trip travel and applies to Economy Class fares from Dar es Salaam to Dubai, Bangkok, Phuket, and Cairo. Bookings are to be done between 13 and 15 May 2013, with travel to be taken between 13th May and 31st July 2013 and again between 1st and 31st October 2013.
“This is a great three day offer which presents travellers an opportunity to experience and fly with Emirates to these fantastic destinations like Dubai which is quite popular destination with Tanzanian business and leisure travellers. Whether customers are travelling on business or for leisure, this offer will enable them to experience Emirates’ world-class service for even a better value,” Khalid bel Jaflah, Emirates Vice President for East Africa said.
Customers will be able to experience the airline’s award-winning ice in-flight, entertainment system with a choice of over 1,400 channels on-demand as well as meals prepared by gourmet chefs. Emirates airline is also known for its award-winning service from its international cabin crew recruited from over 130 nationalities, speaking over 55 languages.
Emirates airline operates a daily flight (7 weekly flights) between Dar es Salaam and Dubai and onward to more than 130 destinations.
EK 725 departs Dubai International Airport every day at 1015hrs and arrives at the Julius Nyerere International Airport (JNIA) in Dar es Salaam at 1455hrs. The return flight leaves JNIA at 1645hrs and lands in Dubai at 2320hrs every day.
Emirates airline has received more than 500 international awards for excellence. The airline flies to 133 destinations in 77 countries using nearly 200 wide-body Airbus and Boeing aircraft, and has orders for an additional 198 aircraft worth more than $ 71 billion.
Stanbic Bank has partnered with the Government of Rwanda in the issue of its debut $ 400 million, 10-year Eurobond, assisting the country to become the latest sub-Saharan country to obtain funding from international capital markets, a first not only for Rwanda, but also for East Africa.
Stanbic Bank Regional Head of Investment Banking, Anne Aliker said the bond issue underscored the increasing stature of Africa as an investment destination.
“Stanbic Bank provided advice on financial, documentation and legal aspects of the transaction to the Government of Rwanda, for which it also acts as a ratings adviser,” Ms. Aliker said.
The funds from the bond issue are earmarked for the construction of an international convention centre and to finance capital expenditure requirements for RwandAir, the national airline carrier.
Interest in the issue of the deal could be gauged by the fact that total bids of $ 3.5 billion, about 7.5 times the issue size, were received for the bond that will be due in 2023. The bond was priced at 6.875 percent for the ten year period and commenced trading at 6.625 percent.
“The enthusiasm with which the issue was received on Thursday 25th April, mirrors the positive sentiments that investors have about the rapidly-growing Rwandan economy, the management of its economy, political stability and the prospects for the region as a whole,” Ms. Aliker said.
For his part, Stanbic Bank Head of Investment Banking Coverage for Rwanda, Patrick Mweheire said, “Stanbic Bank is pleased to have acted as trusted Financial Advisor to the Government of Rwanda on this historic journey. The capital raised will go a long way in boosting Rwanda’s profile to International investors. According to the World Bank, Rwanda is globally ranked 52 on its measure on the ease of doing business, the highest in sub-Saharan Africa after South Africa.”
Stanbic Bank is a leading advisor to African governments and corporates seeking to access the international debt markets and a leading market maker of African Eurobonds in the secondary market.
In the past few years, Stanbic Bank has been instrumental in assisting Sub-Saharan governments on majority of the Eurobond transactions which have come to market from Sub-Saharan Africa, more than any other international bank.
Some of the participants of the 5th Vodacom Economic Women conference and Business Expo, held in Dar es Salaam at the weekend.
Women entrepreneurs in the country stand a better chance to excel in the business if they are confident and innovative. This was said by Dare to Dream Foundation Chief Executive Officer (CEO), Emelda Mwamanga, during the 5th Vodacom Economic Women conference and Business Expo, held in Dar es Salaam at the weekend.
The CEO said today’s business world is very competitive and women entrepreneurs can withstand the existing competition if they are confident and innovative on what they are doing.
The one day seminar was designed to bring the women entrepreneurs together so that they get the chance to learn from each other, networking and share experience. This year’s conference theme is ‘Business Beyond Tomorrow’. The conference inspires women entrepreneurs to build businesses that will last for many years.
According to Emelda, the conference targeted all women including emerging female entrepreneurs who are operating their own Small and Medium sized businesses in the country.
“CRDB Bank is committed to see women entrepreneurs growing to big business people. We have a special account known as Malkia account special for women who wish to fulfill their different dreams,” CRDB Bank marketing Officer, Emmanuel Kiondo said.
He said that his bank is aware of women contribution to the national economy and that is why it did not hesitate to sponsor the conference that aimed at bringing together women entrepreneurs and build the capacity under its corporate social responsibility scheme.
Alice Lewis from Vodacom said, Vodacom was aware of the importance of empowering women and the decision to sponsor the conference was one of its commitments in supporting women empowerment.
President of The Rockefeller Foundation, Dr. Judith Rodin, has announced that the foundation has embarked in a new plan, ‘Digital Jobs Africa’, which will focus on Africa’s youth and employment.
The Rockefeller Foundation’s nearly $ 100 million investment in Digital Jobs Africa will impact one million people in Africa through jobs and skills for youth in the information communication technology (ICT) sector who would not otherwise have an opportunity for sustainable employment.
Dr. Rodin made the announcement at the World Economic Forum meeting in Cape Town, South Africa. South Africa is one of the six focus countries of the initiative. Others are Kenya, Nigeria, Ghana, Morocco and Egypt. The country selection was based on high levels of youth unemployment, the growth of their ICT-enabled sectors, including the existing level of governmental support and the potential to create significant numbers of jobs within the sector.
“Digital Jobs Africa recognizes the enormous talent pool of young people in Africa who lack access to quality sustainable employment opportunities – and seeks to catalyze opportunities to close that gap,” said Dr. Rodin.
To achieve the goal of impacting one million people, Digital Jobs Africa will bridge the gap between the supply of high potential job seekers who need both technical and soft skills to be equipped for working environment. Digital jobs such as data entry, service center support, online research and web design will provide youth with skills that will make them more resilient to a dynamic and uncertain labor market.
“As the Rockefeller Foundation celebrates our Centennial year and looks to our second century, we are supporting innovative ways to advance our century long commitment to improve the lives of poor or vulnerable people across Africa. Innovative, energetic and better informed African youth have the potential to drive economic growth and development, and this new initiative will marry that potential with the growth of technology to increase much needed employment opportunities,” Dr. Rodin.
Digital Jobs Africa will seize the opportunity created by the youth bulge in Africa and the phenomenal rise of the ICT sector to create sustainable job opportunities for African youth. Through a series of complimentary activities that include catalyzing the impact sourcing sector, skills training, and growth of other digital job opportunities, the initiative will aim to meet its goal of impacting one million people.
Africa has the youngest population in the world today, with the number of people between age 15 and 24 expected to double to 400 million by 2045. Sixty percent of young people in Africa are unemployed, and youth unemployment rates are double those of adult unemployment in most African countries.
“The Rockefeller Foundation’s Digital Jobs Africa initiative will give businesses in Africa the opportunity to employ a talented, skilled and developed workforce right here in our own cities. Africa stands at a critical moment – where the challenges we face are now matched by unprecedented opportunity for change. It is critical that the private sector think creatively and collaboratively about how we can join with our development partners to actively build the workforce of tomorrow,” said Strive Masiyiwa, Executive Chairman of Econet Wireless and Member of the Board of Trustees of the Rockefeller Foundation.
The initiative will be implemented in partnership with grantees, the private sector, development agencies, and other foundations that will support, co-fund and adopt many of the job creation tools and principles that the initiative will create.
Mobile phone services will now be easily accessible in Lukanga and Ishokera villages in Mwanza Region, following the launch on a network site by leading telecommunications company, Vodacom Tanzania.
This latest development in the region comes at a time when the company is in top gear to expand its network coverage across the country, and will see mobile phone users enjoy the company’s services including M-Pesa and internet.
According to Herieth Koka, Vodacom Territory Manager, Lake Region, Vodacom Tanzania has made full commitment to expand network services in the year 2012/13 in order to reach all the regions in the country. “We assure our customers that we are doing our best to make sure they have access to network as well as the services that come along with it such as M-Pesa,” she said.
Enos Malale, Lukanga Village Chairman, expressed his gratitude to Vodacom for its continued commitment to perfect its services countrywide.
“This is a great day for the people of this region. From now on, we won’t be wasting time walking long distances searching for network services like before. I thank Vodacom for this move and I urge them to continue with the same spirit to ensure that everyone is connected to the outside world,” said Malale.
Misungwi District Executive Director (DED), Elius Nyakia, speaking on behalf of Mwanza Regional Commissioner, expressed his hope that individuals are now set to experience technological developments in the telecommunications sector.
“We are in the 21st Century, a time when there are loads of technological developments which need to be adopted by everybody. With the launch of this site, the people of this place will now have access to these developments,” said Nyakia adding that, “I urge everyone here to make well use of this network to stay in touch with their loved ones, business partners as well as internet.”
Diageo, the world's leading premium drinks business, has announced the finalists in the 2013 Diageo Africa Business Reporting Awards. The winners of the ten categories will be announced during the Awards ceremony, which will take place in London in July 2013.
The Awards, which this year celebrates their ten year anniversary, recognise the fact that excellent business journalism plays a crucial role in promoting Africa as a destination for investment. The Awards also underline Diageo’s belief that better and more accurate reporting helps to create a fair and responsible environment in which to do business.
Over 1,000 entries were received from across Africa and the rest of the world, representing the very best reporting from print, broadcast and new media. A panel of eminent judges will now select the winners of each category. The winners will be announced at a gala ceremony, which will be held in London on Wednesday 17th July 2013.
The winners will be decided by a prestigious international judging panel, which brings together experts from the field of media and business, as well as pan-African initiatives and organizations. Further details of the 2013 judges will be announced shortly.
Commenting on this year's awards, Nick Blazquez, President Diageo Africa, Turkey, Russia & Eastern Europe, said, “This year’s Awards have once again demonstrated the increasing strength and depth of reporting on African business matters. Our finalists come from across Africa, as well as from Europe and the United States, showing the enormous appetite around the world for insightful and thought-provoking news on Africa’s business and investment climate.”
“At Diageo we remain convinced that an accurate and balanced view of the risks and opportunities of doing business across Africa is essential to inform investment decisions. Journalism plays a fundamental role in that process and I am once again highly impressed by the quality of the entries that we have received. Our finalists for this, our ten year anniversary, are among the best in their field and we look forward to celebrating their achievements at the ceremony in July,” continued Blazquez.
Diageo is the world's leading premium drinks business with an outstanding collection of beverage alcohol brands across spirits, wines, and beer categories. Diageo is a global company, trading in more than 180 countries around the world. The company is listed on both the New York Stock Exchange (DEO) and the London Stock Exchange (DGE).
Diageo Africa is primarily a beer and spirits company whose brands are sold in more than 40 countries in Africa. Diageo has a long established presence in Africa with the first recorded exports of Guinness to Sierra Leone in 1827.
Dar es Salaam University College of Education (DUCE) have received a support of 20 desktop computers worth more than Tshs 25 million from Vodacom Foundation, as a way of showing the significance of improving and promoting the use of Information Communication Technology (ICT) in the country.
The support is part of the continuation of the commitment of Vodacom Foundation to be closer to the community with a view of supporting and responding to various challenges facing society to-date.
“We are aiming at getting closer to the society particularly the educational institutions in the country, focusing in reducing the number of challenges facing schools and colleges,” the Head of Vodacom Foundation, Yessaya Mwakifulefule, said during the handing over the computers to the Principle of DUCE.
He said that the firm has intended to give priority in the fields so as to make the sector grow. The support will also improve and promote the use of ICT, particularly in schools and colleges in the country.
For his part, the Principle of DUCE, Professor David Mfinanga, thanked Vodacom Foundation for seeing the importance of supporting DUCE with 20 computers that can reduce the problem of lack of equipment in the campus.
“We extend our sincere thanks to the entire Foundation as they have recognized the challenges that DUCE faces, but we are also happy with the way they reacted to solve the challenges that DUCE is going through right now,” said Professor Mfinanga.
After opening the Sudan and Mozambique outlet by the second half of 2013, the Pan African bank, Ecobank, will then focus on its strategy to have a presence in all “Middle African” countries.
“We are tapping into the growing demand and potential of banking services in these markets, we also plan to expand our footprint across Tanzania by opening new outlets while pursuing branchless banking initiatives,” Enoch Osei-Safo, managing director of Ecobank Tanzania said.
He said the bank opened a branch in Mwanza in the first quarter of this year and expects to open Arusha and Mtwara branches by the end of this half.
Ecobank, which is relatively large in size — have been attracted to Tanzania and other EAC countries where high economic growth and large unbanked population provide growth opportunities.
Ecobank is seeking to grow its retail customer base in order to expand its loan book and benefit from cheap deposits from small businesses and individual customers.
Ecobank entered the Kenyan market mid 2008 when it acquired the East African Building Society (EABS), which was then making losses.
Ecobank then invested hundreds of millions of shillings paying off EABS’s bad debts and opened more branches that have grown its footprint to 25 outlets currently.
The bank made a net profit of Ksh 202.1 million ($ 2.37 million) in 2011, with last year’s loss driven by interest expenses that nearly doubled to Ksh 2.5 billion ($ 29.4 million) from Ksh 1.3 billion ($ 15.2 m).
Airtel’s Director of Sales and Marketing, Mustafa Kapasi (Left), handling over the certificate to John Gondwe after successful completion of a two year Sales Practitioner course conducted by Airtel Centum Sales University (ACSU). Witnessing are Director of Human resource for Airtel, Patrick Foya and Melvin Joel, Manager of Centum Learning Head Office.
Airtel Tanzania, one the most affordable mobile service provider in the country has awarded certificates to 56 sales employees across the country after successful completion of a two year Sales Practitioner course conducted by Airtel Centum Sales University (ACSU).
The Airtel Centum Sales University was launched in Tanzania in 2011 aiming to nature talent and equip the sales and distribution staff with the new behaviours and critical skills such as consultative selling, managing distributors return on investments, managing the distribution system and influencing retailers to increase productivity.
"The Airtel Sales University powered by Centum Learning, provides sales and distribution skills to ensure Airtel staffs become the best sales professionals not only in Tanzania but across the region. We would like to congratulate our staff for this big step that will distinct them from the rest in offering sales services to our customers. We have seen great efforts during their in-house and coaching period and believe the acquired skills will result to quality, efficiency and the best customer experience," Airtel Managing Director, Mr. Sunil Colaso said during the Dar es Salaam graduation ceremony held at Airtel Headquarters.
He further said that, "We at Airtel strongly believe that strategies and objectives are no more than words on a piece of paper without talented, motivated and energized people who believe in team work and play instrumental roles in turning dreams into reality."
Airtel as an organization strongly believes in cultural transformation, speed of execution and entrepreneurship with people as strongest pillar in the system.
The company has invested considerable resources in developing capabilities whilst giving the human capital opportunities to grow with the organization. The transfer of knowledge at Airtel has always been a conscious strategy to go in line with the global required skill sets of the team.
The ACSU learning and development model was first introduced in India in August 2009 with a vision to upgrade knowledge, skills and attitude of role holders in sales and distribution domain on a continuous basis and has successfully trained and up skilled over 80,000 role holders ranging from the frontline staff to the leadership team in sales and distribution units.
Centum Learning Limited is Bharti owned and provides end-to-end training programmes and skill development solutions aimed at productivity improvement across 17 countries in Africa, India, Bangladesh and Sri Lanka.
Following the recent acquisition of a third Bombardier CRJ-200 jet, the Uganda’s de facto flag carrier, Air Uganda, will reintroduce flights between Entebbe and Kilimanjaro International Airport this month. The airline will also launch a new route to Mogadishu scheduled for July this year.
According to Air Uganda chief executive, Cornwell Muleya, the new 50-seater aircraft leased from GE Capital Aviation Services (GECAS) USA for an initial five-year period, will offer four-times a week flights to Kilimanjaro while three-times a week to Mogadishu.
The service to Arusha will be fed by commuters to the East African Community headquarters in the city and tourist traffic to northern Tanzania while the Mogadishu is targeting the growing number of Ugandan traders currently exporting food stuffs to Somalia via Nairobi.
In this, Air Uganda will be joining Kenya Airways, which flies to Kilimanjaro daily via Nairobi and RwandAir, which serves the city three times a week.
The Mogadishu service will compete with African Express Airways, which has been flying Entebbe-Mogadishu four times a week.
Turkish Airlines is the only Western carrier currently operating flights to Mogadishu via Khartoum.
Uganda’s de facto flag carrier has been lagging in fleet development as its competitors Kenya Airways and RwandAir invested in new generation aircraft. The carrier currently serves six destinations from its Entebbe base.
Air Uganda carried 155,000 passengers in 2012, representing a 13 percent share in a market of 15 scheduled airlines. The Airline will help harmonize the fleet around and consolidate the firm’s growth in the regional market.
Equity Bank’s partnerships with MasterCard and Google to introduce the near field communication (NFC) technology that uses chips and applications in mobile phones, is expected to boost such transactions that offer consumers convenience when paying for goods and services. Following the move, there is a possibility for East Africa to face a major rise in cashless transactions by the end of this year.
During the announcement of the partnership Equity Bank Group chief executive officer, James Mwangi, said that consumers can now make mobile payments on an affordable device, not on swipe but on tap using NFC technology.
“Consumers using the NFC technology tap or wave their mobile phones at a reader to make payments and the transaction is processed in real time,” he said.
Mr. Mwangi said, in cash-heavy economies such as those in East Africa, plastic money would cut the cost of doing business as it eliminates the use of cashiers. “As soon as we can automate payments in matatus, kiosks, restaurants and retail shops, costs will come down significantly,” he said.
Equity Bank introduced its BebaPay payment card that also uses NFC technology in Kenya at the end of last month. The BebaPay card, a partnership with Google, targets commuters. “Tap and go is the next frontier for investors and regional governments as they digitize businesses,” said Joseph Mucheru, Google’s country manager.
Central Bank of Kenya data shows the value of card transactions rose by 74.74 percent to Kshs 1.009 trillion ($ 11.74 billion) in the 12 months ended December last year, compared with Kshs 577.85 billion ($ 6.71 billion) transacted for the period ended December 2011.
The value of transactions through mobile phones hit Kshs 1.54 trillion ($ 17.96 billion), a 32.13 percent rise from Kshs 1.16 trillion ($ 13.59 billion) within the same period.
The largest operator in Kenya in the mobile payments space is Safaricom, through its M-Pesa platform. Others are Airtel, Essar and Telekom Kenya through their Airtel Money, YuCash and Orange Money brands. Tangaza and MobiKash also operate mobile money services, although they do not offer voice services.
Private equity managers in sub-Saharan Africa have concluded fifteen deals across sub-Saharan Africa in the first quarter of 2013, a decline in activity year-on-year, compared with 23 deals reported in the same period in 2012, new data show.
“Almost all of the deals were in consumer-driven sector. There were five in financial services,” says the report by Africa Assets, which monitors private equity and venture capital activity.
According to the report, the deals were spread across some unexpected countries: Rwanda, Cote d’Ivoire, Namibia, Burkina Faso and Zimbabwe, along with the usual suspects in East Africa, Nigeria, Ghana and South Africa.
The eight deals with disclosed transaction values totalling $ 130 million were also larger than expected, based on last year’s activity.
“The deal that we were most excited about in this period was Summit Partners’ $ 26 million investment in Jumia, because Summit Partners is United States-based growth equity house that does not say anything about investing in Africa on its homepage. Therefore, it is encouraging to see this kind of investor coming into Africa for perhaps the first time,” said the report.
Jumia is an online retailer with operations in Kenya, Egypt, Morocco and Nigeria, selling branded consumer products ranging from fashion accessories to electronic products.
Another key deal involved Catalyst Principal Partners’ buyout of TransCentury’s stake in Tanzanian tea company Chai Bora.
Africa Assets said the deal, Catalyst’s second, was a sign of a budding secondary market in Africa.
It was considered a good sign for Tanzania, considering that Catalyst had also bought into a consumer-goods manufacturer, whose flagship product is Whitedent toothpaste.
After the $ 210 million deal in Tanzania’s Export Trading Group by private equity company Carlyle Group in 2012, Africa Assets said the country was emerging as a surprise private equity star in East Africa.
According to the report, for the first quarter of 2013 the Private equity managers raised $ 748 million in the first quarter of 2013. This was about half of what private equity funds used to raise in an entire year.
In less than six months of flying, the Africa’s low-cost airline, fastjet, has become the preferred airline on the key Dar es Salaam to Mwanza route in Tanzania with over 64 percent of market share. Its other main route, Dar es Salaam to Kilimanjaro, is equally successful with fastjet offering more availability than its main competitors. Additionally, fastjet has enjoyed a 30 percent increase in yields in the past two weeks.
Since operations commenced in November 2012, fastjet has carried over 160,000 passengers with 99.7 percent of flights leaving on time.
Fastjet’s commitment to stimulating the aviation market in Tanzania remains a key element within its strategy. The airline continues to offer thousands of $ 20 fares to the public.
"We always knew that the people of Tanzania would support a modern, reliable, great value airline that is safe, secure and that puts passengers first. Our competitors have reduced the number of flights they operate in direct competition with us and indeed the size of their overall fleet. We feel that this clearly shows we are winning the hearts and minds of customers, fastjet CEO, Ed Winter commented.
He said that the company is now looking forward to enjoying similar success in South Africa.
“Since entering the market six months ago, we believe that fastjet has been the victim of an underhanded media smear campaign to hinder the airline’s development and success. Africa is an extremely challenging market in which to launch a new business and we have experienced many instances of interference from our opponents that do not, in our opinion, adhere to best practice standards of compliance. However, today’s news demonstrates that despite these attacks, fastjet is building customer and commercial momentum,” David Lenigas, fastjet Executive Chairman added.
He further said,“The fact that our competitors have replaced their long-standing regular Boeing 737 jet service in the last few days with a much slower turbo propeller service, has resulted in a dramatic boost to fastjet in the last week. Rather than take a lengthy turbo-prop flight, customers are choosing to fly on fastjet’s much quicker jet service.”
Fastjet has made air travel much more accessible to Tanzania’s 51 million inhabitants since the airline’s launch. Tanzania has seen a huge increase in the number of people travelling by air.
The results of a recent survey showed almost 40% of fastjet’s passengers had never flown before. This increase benefits both to the people and the Government of Tanzania, leading to increased trade activity and a better standard of living.
The aviation landscape in Africa is evolving beyond the old protectionist parochial environment that forced African people to endure high airfares and un-reliable services. Fastjet is proud to be in the vanguard of this paradigm shift.
“We understand that some of our East African competitors have had to reduce fleet-size and may be struggling to meet financial commitments to both staff and suppliers. Because of increasing public concern over the reliability of some of these airlines, fastjet is lobbying for the introduction of Scheduled Airline Failure Insurance for all passengers across the continent. This would de-risk the purchase of flights and protect passengers,” Mr. Lenigas said.
Fastjet plc is the holding company for African airline Fly540, which operates in Tanzania, Kenya, Ghana and Angola. Flights under fastjet brand commenced in Tanzania in November 2012.
The airline has introduced Airbus A319s into its fleet and by adhering to international standards of safety, quality, security and reliability, fastjet has brought a new flying experience to the African market at unprecedented low prices. Fastjet is implementing the low-cost model across Africa and its long-term strategy is to become the continent’s first low-cost, pan-African airline.
Tigo’s General Manager, Mr. Diego Gutierrez (Left) launching Tigo’s new fastest 42Mbps Internet speed via a Skype video conference call from Tigo’s headquarters in Dar es Salaam . The Skype video call connected audiences in four regions at the same time facilitating a level of interaction that people in Dar es Salaam and those in the participating regions had never experienced before. The regions that participated in the video conference launch include Dar es Salaam, Dodoma, Arusha and Morogoro. On the right is Mr. Deon Geyser, Tigo's Head of operations..
Tigo customers can now enjoy internet access with 4G capable speeds of up to 42Mbps enabling them to stream, download, upload and game significantly faster than ever before.
“We recognize our customers’ ever changing demands and need for better, faster and quality internet services. Tigo is constantly seeking to provide them with the best user experience in all our products in the most affordable way possible. This innovation is part of our on-going network upgrade program,” Mr. Diego Gutierrez, Tigo's General Manager said.
The mobile internet market is becoming increasingly important for mobile telecom operators. According to Tanzania Communication Regulatory Authority (TCRA), internet penetration in Tanzania was estimated to be over 5 million by 2012.
"The introduction of this 42Mbps super-fast Internet speed is a testament of our pursuit for innovation and need to stay ahead of the rest in delivering top notch customer service experience and satisfaction,” Mr. Gutierrez said.
The launch took place via an interactive online Skype video press conference that connected 4 regions with a keynote speech by Mr. Gutierrez who delivered his remarks from his office at the company's headquarters in Dar es Salaam.
Journalists were given an opportunity to interact live with Mr. Gutierrez and Tigo staff from all the 4 participating regions sent in their remarks in real time. The regions that participated in the video conference launch include Dar es Salaam, Dodoma, Arusha, and Morogoro.
The press conference was followed by online game competitions between two of Tanzania's biggest university colleges. University of Dar es Salaam and University of Dodoma students competed in online games including the popular FIFA and car racing with winners receiving gifts such as smart phones and high speed modems from Tigo.
Tigo started operations in 1994 as the first cellular network in Tanzania. It now covers 26 regions in mainland Tanzania and Zanzibar. Tigo strives to be Tanzania’s most innovative mobile phone operator, offering services ranging from affordable mobile voice communications to high speed Internet access and mobile financial services through Tigo Pesa.
From left, Chief Executive Officer and Managing Director, Airtel Nigeria, Segun Ogunsanya, First Lady of Ogun State, Mrs. Olufunso Amosun, Chairman, Ijebu North Local Government Area, Otunba Olaide Osifeso and Sopen Lukele, Oke-Sopen, Oba M. A Yusuf, cutting the ribbon during the commissioning of Airtel's Adopted School, St. John's Primary School, yesterday, in Oke-Agbo, Ijebu-Igbo, Ogun State.
First Lady of Ogun State, Mrs. Olufunso Amosun has commended the leading telecommunications services provider, Airtel Nigeria for partnering with the State Government in providing educational opportunities for less privileged children and for uplifting the standard of education in the country.
“I feel really overwhelmed by Airtel’s Adopt-A-School programme. Airtel came here unsolicited and is already doing so much. If only all of us can reach out the way Airtel has done, our society and, indeed, the world will be a better place,” she said during the commissioning ceremony of one of Airtel’s Adopted School in the State, St. John’s Primary School, Oke-Agbo, Ijebu-Igbo.
Mrs. Amosun said that she was overwhelmed that a company would decide on its own, unsolicited, to move into an area and offer to serve humanity by providing world class educational opportunities, exceptional learning facility and other support for underprivileged children.
“Airtel is not here today to market its products but to give back to our society. It has transformed St. John’s Primary School, provided bags, uniforms and text books for all the kids. This is commendable and should be emulated.
She also called on the concerned community to protect the facilities for the realization of the objectives of the school. “To the people of Ijebu-Igbo, Airtel has given us a special gift. I urge you to guard this school with your lives and ensure that it remains in great condition for our children to learn.”
Speaking earlier, Chief Executive Officer and Managing Director, Airtel Nigeria, Segun Ogunsanya said the company’s vision and commitment to providing quality education is premised on the need to build a better future for the young generation of Nigerians through quality education.
“Without a doubt, quality education offers children the best opportunity in life to realise their dreams and become the leaders of tomorrow. A great environment is also critical to the development of a sound mind. It is, therefore, in recognition of the importance of education and as part our Corporate Social Responsibility vision that we have committed to the adoption of public primary schools across Nigeria,” he stated.
The CEO reiterated the commitment of the company to strategic partnerships that would drive further its vision of helping to develop the education sector in the country. He said that good companies give back to communities and if a company wants to be a great company it has to be a good one first.
Airtel’s Adopt-A-School initiative is part of the company’s umbrella CSR program and it focuses on the education of underprivileged children in line with the United Nations Millennium Development Goals of universal primary education. At present, similar initiatives have been completed in Imo and Cross River States in addition to the flagship effort at Oremeji Primary School 2 in Lagos.
Vodacom Tanzania has dished out a sum of Tshs 200 million to sponsor the 2012/13 Vodacom Premier League (VPL). This year’s tournament Yanga Football Team has scooped a grand prize of Tshs 70 million from the title sponsor, Vodacom.
The league, which featured 16 teams, have see the second winner walking with the cash prize amounting to Tshs 35 million with the third winner getting Tshs 25 million.
Speaking while announcing the prizes in Dar es Salaam, Vodacom Tanzania External Affairs Manager, Salum Mwalim, said that the most disciplined player and team will also receive prizes.
He further added that the increase of the prizes has been contributed to the sensitivity of Vodacom and its commitment on develop football in the country.
“We are proud of all the individuals who have participated in the 2012/13 VPL. A lot has been achieved and we congratulate all those that have emerged winners in various categories. We look forward to a more promising and entertaining 2013/14 season as we continue to nurture football talents in this country,” said Salum Mwalim.
Other prizes on the line up include Tshs 5 million for the best player, best goal keeper, and best scorer. In addition, the best referee and the best coach each will get Tshs 7.5 million.
“We have had a good season with full of competition and motivation. We expect the teams to have the same spirit in the next season,” he said.
Mwalim also noted that without cooperation with the government and other stakeholders, Vodacom Premier League could not achieve progress in this year’s season which will officially end on May 18, 2013.
In a move aiming at protecting children from text or cyber bullying, accessing inappropriate material online, or running up huge bills by exceeding data allowances, OwnFone, a London based early stage specialist mobile network operator, has gone a step further by launching ‘1stFone’, a mobile phone device aimed for young children.
The device is being promoted through CyCell’s consumer-facing brand, OwnFone comes programmed with up to 12 numbers pre-assigned by parents. It does not have a Qwerty keyboard and can only be used to make and receive calls. Parents with older children can also choose to have a 999 button included which has to be pressed three times to activate.
“In a world dominated by smartphones, parents face a difficult choice when it comes to finding a first phone for their child. We wanted to design a fun product that appeals to children but puts parents in complete control and minimizes usage while still providing a vital connection between parent and child,” OwnFone founder, Tom Sunderland said.
“We are looking forward to expand our product range across ages and feel that at every stage of life we need simple phones to compliment smartphones. This is about providing a much needed balance to smartphones and recognizing that in certain situations or times in life you need light, simple and small rather than large, heavy and complicated phones,” he said.
The limited functionality of the phone means risks such as text or cyber bullying, accessing inappropriate material online, ‘sexting’ or running up huge bills by exceeding data allowances are avoided.
The phone can be fully charged and stored away as an emergency phone and will still make a call after a year.
The 1stFone costs from £ 55 and is available online through OwnFone on a 30 day rolling contracts and prepay.
Managing Director of OIKO Credit Worldwide, Mr. David Woods (centre) speaking with journalists in Dar es Salaama concerning the organization commitment to increase loans in agriculture and stainable energy in the country. Witnessing is the Director of Oiko East African Region, Ms. Judy Ngarachu (Left) and Tanzania Oiko Credit manager, Mr. Deus Manyeynye( First Right).
Managing Director of OIKO Credit Worldwide, Mr. David Woods (First Left) is handling over some cash to Ms. Devota Elias who is a member of Aple group. Aple group received a credit of about Tshs 8 million from Oika Credit this year. Witnessing is Mr. Deus Manyeynye.
Every day we are moving closer to having almost as many mobile cellular subscriptions as people on earth. In the developing world, many people simply never had a landline and now, instead, have a mobile device. Moreover, the move towards individuals having both work and personal mobile phones might mean soon there could be more mobile subscriptions than people in the world.
A report by International Telecoms Union, a UN specialized agency that tracks global information and communication technology (ICT) reports that, presently there are some 6.8 billion mobile subscriptions worldwide, while the total population is about 7.1 billion. By next year, the number of mobile handsets could be larger than the world population.
Currently, the Commonwealth of Independent States, which consists of countries that formerly made up the Soviet Union, leads the world with the highest level of mobile penetration with about 1.7 mobile phone subscriptions per person.
On the other end of the spectrum is Africa, which has 63 subscriptions per 100 people. India, which also has a growing population, is actually seeing its mobile adoption slowing.
“The mobile revolution is ‘m-powering’ people in developing countries by delivering ICT applications in education, health, government, banking, environment and business,” Brahima Sanou, director of the ITU Telecommunication Development Bureau said.
The core mission of the ITU is to foster international cooperation and solidarity in the delivery of technical assistance and in the creation, development and improvement of telecommunication/ICT equipment and networks in developing countries – exactly the areas seeing the fastest growth in mobile handset adoption.
A study conducted last month by researcher, Luke Wroblewiski, author of Mobile First, also found that in January, more iPhones were sold in 24 hours than babies born. This was based on Apple’s reports it had sold 37.04 million iPhones in the first quarter of 2012 – which puts the number at around 402,000 per day, compared to the average 300,000 people that are born each day.
The mobile phone is also outpacing the number of people that can get online and access the Internet. Worldwide online penetration is highest in Europe, which currently sees about 75 percent of all residents going online, followed by the Americas at 61 percent. Currently 32 percent of the population in Asia has online access, while the number is just 16 percent for Africa.
“Two-thirds of the world’s population (4.5 billion people) is still offline. This means that two-thirds of the world’s people are still locked out of the world’s biggest market,” ITU secretary-general, Hamadoun Toure said.
Samsung Electronics has affirmed that it will be providing Pan African customers with a 24 month Accidental Damage from Handling (ADH) warranty to cover screen and liquid damages to the Galaxy S4 at no extra charge.
Samsung Electronic’s East Africa Chief Operating Officer, Mr. Robert Ngeru announced this welcoming innovative offer at the Africa grand launch of Galaxy S4 in Dar es Salaam, Tanzania.
“This is world first from a device manufacturer level,”, Mr. Ngeru said, adding “this warranty is yet another way Samsung is showing its commitment to customer service by introducing it as standard on the GALAXY S4 and will be extended to other Samsung devices in the months to come.”
In Tanzania, Samsung Galaxy S4 is sold for not more than Tshs 1.3 million, vat inclusive.
He disclosed that the company has held successful talks with the regional operators who have accepted to provide generous data bundles for customers purchasing the Galaxy S4 as part of a joint effort to promote mobile internet.
“Our market research recently confirmed that marketing such powerful smart mobile devices and failing to provide data bundles was akin to selling a new car without fuel or tyres,” he said.
As part of the collaboration partnership between Samsung and the local operators, Ngeru further disclosed that Airtel, Vodacom and Tigo had commenced a pre-order service ahead of the local launch.
Already both operators have lined up attractive offers backed by generous data bundles for the early bird customers acquiring the Galaxy S4 to be marketed under the tagline ‘Your Life Companion’.
With Airtel Tanzania, subscribers’ making an early bid for the Galaxy S4 will enjoy attractive offers starting from Tshs 1.3 million for smartphone featuring free 3GB data each month for 3 months, free 275 minutes to any network each month for 3 months and free unlimited SMS each month for 3 months.
Vodacom subscribers will enjoy a similar offer priced at Tshs 1.3 million and backed by a free 5GB data bundle spread over one month. While at tiGO, subscribers will enjoy unlimited data and Tshs 30,000 worth airtime to any network for 1 month.
“Currently enjoying rave reviews globally, the Samsung GALAXY S4 was developed to redefine the way we live and to maximize our fulfilment of life. This sleek and innovative smartphone makes every moment of life very meaningful. It understands the value of relationships, enabling true connections with friends and family, it believes in the importance of effortless experience, making your life easy and hassle-free and it empowers your life, taking care of your well-being,” Mr. Ngeru said.
Speaking as the Guest of Honor during the launch event, Deputy Secretary of the Ministry of Communication Science and technology, Dr. Patrick Makungu said “as increased people’s demands and lifestyle changes, the demand for advancing the type of technology we use is higher. Almost everything we use has been refurbished to better standards, a good example is the mobile phone , the type of mobile phones we had in 1995 are no longer on demand in this century, the demands of mobile phone users have changed , and this has resulted into the advancement of mobile phone technologies."
He further said that, “though the uptake of mobile phones and internet increases rapidly each year, many villages and rural communities within the Commonwealth countries remain unconnected, and therefore are not yet benefitting from the potential of the new technology to stimulate economic growth, disseminate information and subsequently raise the standards of living. We Tanzanians need to change this, and the Samsung Galaxy S4 is one of the changes required.”
The Samsung Galaxy S4 launch in Tanzania comes as part of an on-going global launch of the smartphone in key markets, just few days from the launch of the handset in Uganda, Kenya and South Africa.
The Samsung Galaxy S4 is slimmer yet stronger, with less to hold yet more to see. It has come up with simply unreal beauty. In the East African market, this smart phone will be available in black mist and white frost colour shades.
The phone has a highly crafted design encompassing a larger screen size and battery, minimized bezel, all housed in a light (130g) and slim (7.9mm) shape.
The phone is equipped with a 13 megapixel rear camera and also boasts a dual camera function that allows simultaneous use of both front and rear cameras.
When capturing moments, users can choose from a variety of frame effects, which blend the two pictures naturally and adjust the size of the small picture inside the big one.
Galaxy S4 will break language barriers through its instant translation of both speech and text. “The Galaxy S4 brings all people closer together by breaking language barriers. It makes international travel a joy with ‘S Translator’ which provides instant translation, using text or voice translation on applications including email, text message and ChatON,” Mr. Ngeru said.
This is also possible for both speech to text and text to speech and ensures that you rely on the correct information whilst abroad.
The phone also has a ‘Samsung Smart Pause’ a feature that enables the user to control the screen while looking at it. It ensures that tasks are effortless with innovative features that detect your face, voice and motions to enable screen control with no need for finger touch activation.
Following Petra Diamond’s major rehabilitation to its treatment plant at Williamson mine in Mwadui-Shinyanga Region, diamond production has increased by 471 percent in nine months from July 2012 to March, this year.
Petra Diamonds which own 75 percent stake at the mine said in a statement that the production has gone up from 21,570 carats in nine months that ended in March 2012 to 123,243 recorded in nine months that ended in March this year.
The mine that underwent extensive development to increase its capacity last year saw its treated tonnage increased by 436 percent from 423,131 tonnes to 2,266,113 tonnes in the said nine months.
Williamson mine produces 5.6 carats per hundred tonnes (cpht), which remains in line with guidance of 5.5 cpht backed by commissioning of the rebuilt treatment plant.
On quarter-to-quarter, which is the third for Petra, shows that Williamson mine produced 43,335 carats of diamond an increase of 128 percent compared to 18,983 carats produced in third quarter of 2012.
“The mine's run-of-time (ROM) production continued as planned, where basing on tonnages treated it has improved significantly to remain in line with projections,” read part of the statement.
Petra's current mine plan at Williamson is to ramp up ROM production from 2.5million tonnes per year in financial year 2013 to 3.6 million tonnes per year by 2016, following the introduction of a re-crush system into the plant circuit.
In general Petra Diamonds third-quarter production was up 4.0 percent to 647,248 carats, while for the nine months to March 31 it was up 20 percent to 1.89 million carats. The company said it was on track to meet its full-year production target of 2.65 million carats.
It produces 60 percent of total diamonds sales in the world by value. However, it said the rough diamond market continued the firmer trend experienced since late last year.
This translated to third-quarter revenue of $ 105.7 million, up 8.0 percent. "As usual, revenue will be weighted towards the full 2013 second half period due to the seasonal timing of Petra's diamond sales," Petra said in a statement.
According to Petra Resource, the mine's Phase 2 expansion project, which was initially planned to take the mine to 10 million tonnes per annum (mtpa), is currently on hold, though Petra continues to consider approaches to further significantly increase production beyond 3.6 mtpa.
"An expansion plan above this level will be dependent upon appropriate electricity and water supply, as well as the results recorded from treatment by the rebuilt plant of main pit material over the medium term," the firm website shows.
Petra's current mine plan has a life of 18 years, but given that the Mwadui Kimberlite hosts a major resource of 39.6 mcts, there is potential to extend the life of mine considerably.
A part of an aggressive expansion campaign that will help double revenues from its African business over the next five years Standard Chartered Bank wants to open its first branch in Mozambique next year and other 25 branches over the next three years in Nigeria.
"Africa is in our DNA and we think Mozambique is natural evolution in expanding our network there," V Shankar, the bank's head of Europe, Middle East, Africa and Americas operations, said.
Shankar said the Mozambique subsidiary would handle domestic and cross-border banking in the Southern African country, where huge oil and gas finds are propelling rapid economic growth.
"I would be surprised and disappointed if we were not there by the end of 2014 to grab the potential market," he said.
He further said that the company is growing very rapidly in Nigeria, both on the consumer banking side as well as the wholesale banking side. “Therefore the move to open other 25 branches in Nigeria, the top revenue earner on the continent for the bank last year, is a good idea,” he said.
All vegetables and fruits from Tanzania either destined for Kenyan market or on route to overseas markets via Jomo Kenyatta International Airport are not charged anymore following the Kenyan move to abolish an import levy.
The country’s growers have vehemently argued that the charge was not in conformity with the East African Community’s principles and international trade practices.
Nairobi has been levying Tshs 36 ($ 0.024) on every kilo of agricultural products from Tanzania. The abolition of the charges has relieved Tanzanian producers of a burden they have carried for months.
Tanzania Horticulture Association (Taha) executive director, Jacqueline Mkindi, says Kenya has officially removed the fee mid last month.
While Tanzania Revenue Authority has significantly pledge to increase the overall revenue collections in order to reduce donor dependency, UK based tax experts at HM Revenue and Customs are to provide counterparts in Tanzania and Ethiopia with advice and assistance on how to improve tax administration.
It is anticipated that HMRC will provide help in areas such as tax inspector training, website design, complaints handling, and creating a risk management system. This is after a "health check" to assess the amount of revenue collected, the structure of the two countries' tax authorities, and current tax legislation.
The programmes will be undertaken through the UK Government's new Developing Countries Capacity Building Unit, which is funded by The Department for International Development (DFID) and run by HMRC.
According to an HM Treasury statement, the project will tailor HMRC best practice to the infrastructure and resources available to help the two countries.
As most of the development partner countries are experiencing financial crises in their countries which reduce their contribution to budgets of developing countries, Tanzania Revenue Authority has significantly pledge to increase the overall revenue collections in order to reduce donor dependence. In a move, TRA have set new tax revenue targets with the ultimate goal of collecting nearly Tshs 19 trillion a year by 2017/18.
This will be achieved by improving efficiency in tax administration and widening the tax net in order to collect more revenue especially from specialized sectors of mining, oil and gas, telecommunication, tourism, construction, real estate, financial sector, high net worth individuals and incomes from the informal sector.
UK Prime Minister, David Cameron, has described capacity-building as a key priority ahead of the G8 summit, which the UK will chair in June, and in a speech at Davos in January he announced that UK involvement in tax collection in Ethiopia had led to a seven-fold increase in tax collection there over the last decade. The work of the new unit in Ethiopia will represent a "second phase" of cooperation with HMRC.
Microsoft Corp has announced a TV white spaces pilot project in collaboration with the Tanzania Commission for Science and Technology (COSTECH) and UhuruOne to provide affordable wireless broadband access to university students and faculties in Dar es Salaam. The partnership will also enable UhuruOne, a local Internet service provider, to offer Windows 8 device and service packages to universities in Dar es Salaam.
TV white spaces technology is an innovative, tested and affordable method of providing wireless broadband by tapping into unused portions of wireless spectrum in the frequency bands generally used for television.
Although Africa has the highest growth rates for mobile broadband penetration in the world, wireless broadband services remain largely unaffordable throughout the continent. This pilot looks to improve that situation by focusing on access to broadband in the essential area of education, an effort which will increase digital literacy, teach technical skills, advance e-learning and ultimately promote economic growth.
The pilot’s initial deployment in Dar es Salaam will target The University of Dar es Salaam, amongst others. “We anticipate that tens of thousands of Tanzanian students and faculty members will be able to take advantage of the wireless broadband packages offered by UhuruOne through the projects,” Dr. Hassan Mshinda, director general COSTECH said.
These integrated solutions will include a Windows 8 laptop or tablet, wireless broadband connectivity and applications and services.
The partners are working with banks to offer small loans to cover the cost of the packages.
In addition to offering affordable connectivity, devices and services, the pilot will hire a team of students as on-campus support staff for the network infrastructure. These students will benefit not only from employment, but also from the opportunity to learn highly valued technical skills and gain qualifications for pursuing IT-related careers in the future.
“UhuruOne is not only an Internet service provider – we are social entrepreneurs working to reduce the digital divide. This project exemplifies our approach to connecting underserved populations. We are committed to increase the affordability, accessibility and availability of broadband services in Tanzania and are pleased to be working with Microsoft and COSTECH in this critical effort,” said Mihayo Wilmore, founding partner, UhuruOne.
The Tanzania pilot follows a similar project Microsoft launched in Kenya in February, which uses white spaces and solar power to deliver low-cost wireless broadband to rural locations without previous access to broadband or reliable electricity. These pilot projects and similar initiatives are part of the Microsoft for Africa Initiative, a new series of investments designed to enable Microsoft to actively engage in Africa's economic development and to improve its global competitiveness.
As part of that effort, the company is committed to working with African governments to help drive a clear understanding of the legal and regulatory environment needed for white spaces technology to be commercially deployed on a large scale, to the benefit of all Africans.
“After announcing our Mawingu pilot in Kenya, Microsoft has been flooded with requests from a wide range of companies and governments interested in developing similar projects,” said Paul Garnett, Director in Microsoft’s Technology Policy Group. “White spaces technology and efficient spectrum management have a huge potential for expanding affordable broadband access throughout the world. We hope all governments will follow the example of forward-looking countries like Kenya, Tanzania and many others that have taken steps to support deployment of white spaces technology.”
Founded in 1975, Microsoft (Nasdaq “MSFT”) is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
Mr. David Charles
The Chairman of the CEO Roundtable have announced the appointment of Mr. David Charles, as the new Executive Director of the CEOrt.
Commenting on the appointment, Ali Mufuruki, Chairman of CEOrt said: "The Board is very pleased to have David Charles to lead the CEOrt through its next development phase. He brings with him a wide experience of Management having worked in various capacities within the private sector. The CEOrt has been a leader in engaging dialogue with the government and we are confident that Mr. Charles will continue to build on our expertise.”
Mr. David Charles brings with him over 10 years experience in management. He comes from a telecom background whereas he was the CEO of Hits Tanzania, a member of Hits telecoms Kuwait, listed in Kuwait and Dubai stock exchanges.
"I am delighted to join the CEOrt, and I can see opportunities to build on what has already been achieved. CEOrt is a voice of private sector, and coming from a private sector myself, I do understand the challenges imparting the relationship between the government and the private sector. Being a former CEO, at times it became too much for one organization to handle some of these issues, and this is where CEOrt comes about. My humble pledge to members and the public is, kindly continue to support us,” said Mr. David Charles.
The CEO Roundtable is a policy dialogue forum that brings together CEOs of over 70 of the top companies doing business in Tanzania. The members of the Roundtable and the companies they lead account for more than 50% of the tax revenue collected by the Government of Tanzania.
IMX Resources an Australian based, diversified resources developer and explorer, has embarked on the recommencement of drilling at its Ntaka Hill Project, south-eastern Tanzania with the first hole of the 2013 field season intersecting 70 metres of continuous sulphide mineralization.
The move follow the re-assessment of the soil geochemical data sets, historical electromagnetic survey results and the gravity survey completed towards the end of 2012 which have led to a large number of “drill ready” targets being identified that are expected to be pursued during this field season.
The Ntaka Hill Nickel Sulphide Project is one of the world’s best undeveloped nickel sulphide projects and has the potential to produce a very clean, high quality premium nickel concentrate. The project is a host to zones of high grade massive sulphide intervals of up to 16.3% nickel within wide intersections of disseminated mineralization.
Just recently, IMX defined an Inferred Resource of 31,000 tonnes of contained nickel at its Zeppelin deposit that is part of its Ntaka Hill. Assays are pending and likely to be highly anticipated given the broad nickel zones that continue to be discovered at the project.
The 2013 drilling program started last week, with a focus on drilling targets determined from a re-assessment of currently held data sets.
“The application of electro-magnetic and induced polarization techniques is an important advance for IMX as it will enable exploration of the rocks beneath the graphite horizons which in the past have potentially masked any massive sulphide mineralization present. We are pleased to have restarted drilling at Ntaka Hill and encouraged by the mineralization observed in the first hole,” Neil Meadows, IMX Resources managing director, commented.
He said that all of the holes drilled at Ntaka Hill during the current field season will be assessed with down-hole electromagnetic equipment to explore for extensions to massive sulphide mineralization that has been previously discovered.
“In addition to this work, the company plans to use ground-based induced polarization surveys as a further tool to identify higher grade disseminated near surface mineralization across the broader Ntaka Hill trend,” he said.
IMX has a head start this year with the exploration camp at Ntaka Hill opened in February, three months earlier than has been the case previously. During the past three months, the company has focused on obtaining expert opinions on work carried out to date and developing the detail of the proposed 2013 exploration program. It has also focused on soil sampling, geochemical work and preparation for ground based and down-hole geophysical surveys to be completed during this current field season.
Ntaka Hill forms part of the Nachingwea Exploration Project in South-Eastern Tanzania, which is located about 250 kilometres west of the port town of Mtwara. Nachingwea is highly prospective for nickel and copper sulphide, gold and graphite mineralization. The mineralization at Ntaka Hill is significant in that it is near surface and therefore conducive to low-cost open pit mining.
Previous testwork has also demonstrated attractive metallurgy, plus associated copper credits, which makes for a relatively lower economic cut-off grade at Ntaka Hill. The Preliminary Economic Assessment shows the project could be cashflow positive at about 0.2% nickel feed.
With a cash balance of $ 15.29 million, or $ 0.038 per share, at the end of March 2013 quarter against a market capitalization of $ 32.1 million and share price of $ 0.081, IMX resource is around 48% cash backed.
Airtel, one among the fast growing telecommunications network in Africa has launched its 3.75G network in Democratic Republic of Congo.
“Since its inception, the company has been committed to actively contribute to infrastructure reconstruction and modernization within the DRC and the development of the telecommunications sector, particularly by offering innovative and world class services,” Airtel DRC Marketing Director, Cheikh Sarr said.
He said that as the most innovative telecoms operator, Airtel has always been the first to offer the most relevant and advanced products in the country.
The 3G platform launches significant transformation on how customers of the largest telecoms network in the DRC will experience the web on devices connecting to internet. Its speed will not only be the best social & economic catalyst, but will also drive human development and enable Airtel to offer a unique experience to customers.
“This is the most current High Speed Packet Access (HSPA+) technology with 21 megabits per second and is the fastest 3G service available, offering significant benefits to a range of users, including large enterprises, SMEs and the youth. This new technology will reinforce multimedia functionality and internet access,” Mr. Sarr said.
He said that the 3.75G technology will offer a new way for customers to interact with data. “Airtel does not consider the 3.75G technology as a product but as platform allowing people to enlarge their social & commercial prospects alongside the rest of the World.”
The 3.75G platform will enable customers to combine the enormous potential of internet with the easiness of mobile phones and other devices.
“This technology will unleash the communities’ potential to allow faster access to internet for learning, sharing, social networking, creation and access to content like music. Large and small enterprises will increase productivity thanks to an improved internet speed, offering the possibility of video calls and recording on mobile phones,” he added.
Mr. Ali Mufuruki
The CEO Roundtable will next week host Abdulrahman Kinana, Secretary General of CCM to discuss the Public Private Partnership Policy (PPP) in Tanzania during their monthly dinner. The discussion aims at highlighting the importance of PPP with regard to driving economic growth and the role the private sector can play in driving economic growth through PPP.
“We are excited to host Mr. Kinana and learn from him the government’s commitment in making PPP a reality. We as the private sector believe that there is a lot more that the private sector can do to accelerate economic growth through PPP,” Ali Mufuruki CEOrt Chairman said.
He noted that the government had taken great strides in developing the PPP policy, yet more could be done to improve the policy. A review of the current policy can allow more local investment from the existing private sector especially in the provision of key services such as energy, infrastructure that are needed for economic development.
The PPP policy developed in 2009 was designed to enable the Realization of the National Development Vision 2025. The 2025 Vision requires achieving and sustaining a high rate of shared growth based on building a strong and competitive economy of which the private sector has a key role to play in the achievement of this goal, and PPPs provide a powerful instrument among others in attaining this goal.
The main objective of the PPP Policy is to promote private sector participation in the provision of resources for PPPs in terms of investment capital, managerial skills and technology.
The CEO roundtable is held on the second Tuesday of every month to engage various officials as a way of exercising positive influence on government policies in the spirit of partnership. They invite different cadres of people including politicians.
Despite the last week’s fall in business turnover at the Dar es Salaam Stock Exchange (DSE), from Tshs 2.98 billion of the previous session to Tshs 989 million, banks continued their dominance, accounting for 91 percent of the market value and 98 percent of the week's total volume traded. Thanks for the backdrop support from foreign investors on CRDB and NMB counters.
According to the Tanzania Securities Limited (TSL) weekly market commentary, the foreign investors supported the counter by 74 percent of the market value.
During the period under review, NMB remained flat and maintained its last week price of Tshs 1,420 per share. The counter moved a volume of 18,748 shares during the week. CRDB moved a volume of 4,830,098 shares, significantly lower compared to 15,248,089 shares that changed hands in the counter last week.
"We expect continued activities on the banking segment, particularly on the CRDB and NMB counters. NMB will announce its dividend payout next week," Ms. Upendo Lyatuu, an analyst with TSL said.
During the week, volume of shares traded dropped to 4,950,690 shares from 15,337,840 shares of the preceding period.
On the positive side, during the week the market continued with the recovery and rally with modest gains for both Dar es Salaam Stock Exchange All Share Index (DSEI) and the Tanzania Share Index (TSI).
The DSEI closed 0.12 percent higher at 1,535.66 points while the TSI ended the week at 1,642.01 points, equivalent to 0.46 percent supported by the increase of TBL and TCC by Tshs 40 on both counters. Foreign investors accounted for 76 percent of the turnover particularly from the purchases of CRDB and NMB shares.
Simba traded 3,100 shares at Tshs 3,420 and TCC transacted 2,210 shares at Tshs 5,940. Swissport and TTP counters did not participate on this week activities. The TOL was the most active counter among the Industrial and Allied segment during the week moving 78,000 shares at the price of Tshs 260. Similarly, a total of 10,616 shares of Twiga changed hands at Tshs 2640 while TBL moved 6,970 shares to end the week at Tshs 3,060.
Tigo Tanzania has launched its new Tigo Twitter live chat forum, the first in Tanzania, where followers of Tigo’s Twitter page are given an opportunity to engage live with their favorite celebrities for one hour.
"We are proud to bring our Twitter followers on Tigo’s ‘Twitter Celeb Live Chat’. Our followers on Twitter are presented with a platform to interact with their favorite celebrities and get to enjoy the whole experience, the first in Tanzania and only with Tigo,” Tigo's brand manager, William Mpinga said during the launch.
During the launch, fans of the most talented musician, Elias Barnaba, had a chance to interact with him and ask questions, which he responded to at a time.
Recently, the company received a global recognition by being named among the top global socially devoted brands on Facebook in a report issued by SocialBakers on the 7th of February 2013, covering a study on the world’s top 10 socially devoted brands on Facebook in the last quarter of 2012.
Twitter celebrity live chat is one extra way for Tigo to connect, interact and engage with our valuable customers through social media platforms which are most convenient to them.
To participate in this live one has to follow Tigo Tanzania on Twitter and then tweet using #OngeanaTigoCeleb and tag Tigo using @Tigo_Tz @name of celebrity.
Tigo started operations in 1994 as the first cellular network in Tanzania. It now covers 26 regions in mainland Tanzania and Zanzibar.
The company strives to be Tanzania’s most innovative mobile phone operator, offering services ranging from affordable mobile voice communications to high speed Internet access and mobile financial services through Tigo Pesa.
According to Ernst & Young's third Africa Attractiveness Survey released on Monday, Tanzania joins Ghana, Nigeria, Kenya, Zambia, Mozambique, Mauritius and South Africa, whose share of global Foreign Direct Investments (FDI) projects have grown at a compounding rate of 22 percent for the last five years.
"The latest data shows that despite a fall in project numbers from 867 in 2011 to 764 in 2012 in line with the global trend, project numbers are still significantly higher than anything that preceded the peak of 2008. And the continent's global share of FDI has also grown from 3.2 percent in 2007 to 5.6 percent in 2012," reads part of the report.
According to the study analysis in 2012, there were over 800 active infrastructure projects across different sectors in Africa, with a combined value in excess of $ 700 billion. The large majority of projects related to power 37 percent and transport 41 percent.
The report combined an analysis of international investment into Africa over the past five years with a 2013 survey of over 500 global business leaders; about their views on the potential of the African market.
Mining and metals according to the report is still perceived by survey respondents as the sector with the highest growth potential in Africa.
Other sectors where there has been a noticeable shift include ICT which grew from 8 percent last year to 14 percent, financial services grew from 6 percent last year to 13 percent up and education, which has come from virtually nowhere to register 10 percent this year.
The winner of Amka Milionea Promotion, Mr. Juma Hamza (30), the Artisan Mansory, (first left) receives a Tshs 15 million dummy cheque from Marketing Officer of Airtel, Khalila Mbowe. Whitening is Airtel Public Relations Manager, Jackson Mmbando.
Airtel Tanzania continues to reward its customers millions of cash prizes through Amka Millionea promotion. In a recent development, the company has rewarded two monthly winners, each 15 million cash prize.
“We will continue rewarding our customers while enhance our product and services, offer quality and affordable services through Airtel Yatosha service that enable our customers to call other mobile networks at competitive and affordable rate. Airtel Yatosha service offers Short message and internet bundle without paying extra cost,” Mr. Jackson Mmbando, Airtel Public Relations Manager said.
The two winners of the promotion are Juma Ibrahim Hamza, the Artisan Mansory 30 year old, resident of Kawe Dar es Salaam, and the second 15 million winner is Mr. Adnan Ayub Khan, 25 years old, businessman at Simiyu Region.
“Today we have two 15 million winners who emerged winners during our March Monthly draw. Apart from these two winners we have witness Tanzanians and our customers receiving cash prizes daily, weekly and monthly through Amka Millionea promotion,” he said.
Speaking during handover ceremony, 15 million winner, Mr. Juma Hamza, said “ I’m delighted and I thank Airtel for rewarding me this huge amount of money. This is a dream come true for me, I expect to use this money wisely, the plan is to build the house for my family.”
He said that he is an artisan masonry earning small amount of money which he usually uses to participate in this promotion. “Today I’m glad that I have won Tshs 15 million and thank God for this,” added Juma Hamza.
On his part Adnan Khan, the second 15 million winner said “I thank Airtel for carrying out Amka Millionea promotion and reward customers; I will use this money to expand my business. I urge Airtel customer to participate in these promotion as they can stand a chance to win like I did today.”
Amka Millionea promotion launched last year December and ended on the 1st of May, so far more than 1458 customers from different part of the country have been rewarded cash prize worth 626 million.
Exim Bank Managing Director, Anthony Grant.
Exim Bank, Tanzania’s sixth largest bank by total assets and deposits, has been shortlisted for the “Best Retail Bank in Africa” in African Banker Awards 2013.
African Banker Awards is one of the biggest landmark annual events that recognises and celebrates the achievements of Africa’s banking and financial sector.
“Exim Bank is pleased to receive the honor and we look forward to being the finalist among the contenders to win the award. Our Board of Directors has supported the investment of considerable resources for developing tailor-made retail banking products to serve our customers. We are pleased to see that our efforts are paying back at many levels,” Exim Bank Managing Director, Anthony Grant, said in a statement available to Corporate Digest.
He said that short listing is not only recognition for the bank, but an honor for the country as a whole.
Other banks shortlisted for the same category include Banque Centrale Populaire of Morocco, Compagnie Generale de Banque Ltd of Rwanda, Coris Bank of Burkina Faso and Ecobank Transnational of Togo, among an impressive number of strong and deserving entries, following a record-breaking number of entries this year.
“Indeed we are happy to represent Tanzania in Africa at such prestigious awards,” Mr. Grant added.
Mr. Grant said that the bank’s submission had also cited retail banking accomplishments at the Exim Bank affiliates in Comoros and Djibouti. He also noted that in October 2008 he had been invited by the African Banker to serve as Master of Ceremonies for the Awards, held that year in Washington, D.C.
Commenting on this year's entries Omar Ben Yedder, Publisher of African Banker magazine, said: "I remain a staunch defender of the positive role banking institutions can play. The two biggest listed companies in China are both financial institutions and they play a critical role in the economy. The same can be said about many banks in Africa. The entries seem to get better year after year.
“The variety of entries and the quality of these entries, especially in the Deal of the Year category, illustrate the increased sophistication and the growing investment banking activity across Africa, and that can only be encouraging. Through the awards we are trying to create a benchmark and to promote best practice,” he said.
Yedder said the awards committee was highly encouraged by the examples of leadership, innovation and dynamism highlighted in this year's entries'.
The African Banker Awards is organized by African Banker magazine, IC Events and Business in Africa Events. It is a landmark event that brings together over 500 key industry players and top government officials from Africa and around the world to celebrate excellence and best practices in African banking and finance.
A distinguished and independent panel of judges, known and respected for their expertise on the African banking and finance industry, will decide the final winners of each category.
The winners will be announced at the awards ceremony on the 29th May during the annual African Development Bank (AfDB) meetings in Marrakech, Morocco. Last year’s awards were held in Arusha during the annual AfDB meetings.
Amana Bank Limited, Tanzania’s first fully Sharia compliant bank, has announced its audited financial results for the financial year ended 31st December 2012 reflecting strong growth of its total assets, by 100% to Tshs 52 billion.
The bank started financing in April 2012 and by December 2012 it had disbursed total financing facilities amounting to Tshs 26 billion. The bank also recorded Tshs 1.2 billion income from financing activities and Tshs 1 billion from non-funded income.
“The Bank closed the year with total mobilized deposits amounting to Tshs 34 billion. This is an outstanding performance for a bank which is in its first year of operations. We are really pleased with the performance of our operations notwithstanding the loss after tax of TZS 4.9 billion which is expected of any start-up bank,” Dr. Idris Rashidi, the bank’s Managing Director said.
He said that the achievements that the bank has made, which were in line with the set projections, could not have been achieved without the confidence and support shown by the bank’s customers.
“Given the number of banks in the market and high level of competition, our staffs have demonstrated that we can exceed our customers’ expectations,” he said.
In the year 2012, the Bank added two new branches namely Nyerere Road and Main, located at Golden Jubilee Towers, Ohio Street in addition to Tandamti Street Branch, Kariakoo Business District, making a total of 3 branches, all in Dar es Salaam, with a customer base of 4093.
In April 2013, the bank opened additional branches in Lumumba Street, Kariakoo Business District, Arusha and its sixth branch in Mwanza.
Amana Bank is a fully fledged commercial bank offering a wide variety of products and services specially designed to meet its customers’ needs. During the year under review, the Bank added new services by introducing internet and SMS banking, TRA Asybank Tax Payment and Western Union Money Transfer.
“The bank also introduced M-Pesa service whereby our customers deposit funds into their Amana Bank accounts via M-Pesa accounts and transfer funds to their M-Pesa accounts thus bringing convenience banking everywhere, anytime of the day. This has enabled a lot of our customers to deposit money into their Amana Bank accounts even when they are out of the country,” Dr. Rashidi said.
He said that this is another way of bringing affordable banking services closer to the people.
Amana Bank is only less than two years old and yet it is leading the way in providing alternative distribution channels.
According to Dr. Rashid, the bank will continue to strive to deliver on its promises to customers, staff and shareholders by focusing on best customer services and also adhering to the core values the bank was built upon. “The Bank will continue to introduce new services that will improve customer penetration and satisfaction,” he said.
He further said that the bank has built a platform which will enable it to scale greater heights and to be among the best performers in the industry. Management has a positive outlook on the economic developments of Tanzania in particular and the region in general.
After a state-owned mining arm, Stamico and TanzaniteOne Mining firm, a subsidiary of Richland Resources signed a letter of intent for mining licence at the tanzanite deposits; the two parties are now set to make division of costs and revenue, under the 50:50 mining licence, which is expected to be issued during the next few days.
The parties are in the process of determining a ‘fair and reasonable sum’ to be paid by Stamico – either in full or using 40 percent of the yearly profit.
Under the agreed terms, neither TanzaniteOne nor Stamico could sell the shareholding without permission or right-of-first refusal.
“We are pleased to have reached mutually acceptable terms in principle for a partnership with the government of Tanzania. The government have been recognizing the company's investment under its former licence in full compliance with the local participation requirement of the 2010 Mining Act, and provides a commercially acceptable framework for the continuation of its mining operations in Tanzania,” Richland CEO Bernard Olivier said in a statement.
According to the agreement, Stamico would be responsible for facilitating and liaising with the local government authorities to ensure that necessary regulatory and law enforcement actions are taken efficiently as the two companies work to curb tanzanite smuggling and illegal mining operations in the area.
Mr. Olivier pointed out that all revenue and profits earned from activities other than mining by TanzaniteOne have been excluded from the profit sharing arrangements, and that all current assets, including buildings, machinery and plant and equipment, remained under the ownership of TanzaniteOne.
Chief Executive officer of the low cost African airline, fastjet, Mr. Kyle Hayward has affirmed his customers that his management is working hard with its South Africa partners to initiate the Johannesburg to Cape Town route shortly.
”We are basically completing the process in terms of the regulatory requirements and driving the necessary bodies. We anticipate the opening of booking around 15 May and the first ride will be on 31 May,” he said.
The airline and its partner, Federal Airline will ‘wet lease’ a Boeing 737-300 from Starcargo Airlines, an experienced aircraft leasing company at OR Tambo International Airport for its planned air service between Johannesburg and Cape Town.
Starcargo will provide the crew, maintenance and insurance while Federal Airline will operate the service for fastjet Holdings which owns 25 percent interest of the business.
The arrangement will last for 6 months, giving fastjet time to obtain permission to operate its Airbus 319 jets in South Africa.
For students and business users who are looking for a step up and want more of a premium design but still at an entry-level price point, Sony hopes the new VAIO Fit line will be the ideal portable companion. The company has introduced the brand new VAIO Fit laptop line built with Sony's digital imaging, audio and display technologies.
Alongside the new Fit laptops are enhancements to Sony's top-selling VAIO T Series 15 Ultrabooks powered by Windows 8.
Additionally, the Fit models include standard Sony features such as a full size backlit keyboard with integrated number pad (Fit 15-inch only), large touch pad, quick charge functionality and Sony's own Rapid Wake technology for instant PC resume.
With Near Field Communication (NFC) technology users can now quickly exchange website URLs and enable Bluetooth and Wi-Fi direct connections by simply touching a compatible NFC device to the new VAIO Fit.
With a major effort focused on design, the VAIO Fit is thin and light and crafted in aluminum alloy with Sony's signature sparkling diamond cut VAIO logo.
The VAIO Fit line features LED-backlit, high resolution displays, Full HD (1920 x 1080) on the Fit 15-inch model and HD+ (1600 x 900) on the Fit 14-inch model, as well as “color enhancement technology” for superior image quality.
The optional capacitive touchscreen allows for a snappy and responsive touch experience.
The web cameras built into the VAIO Fit notebooks feature Exmor R CMOS Sensors that Sony originally developed for better video quality when chatting in low light.
Sony also leverages sound quality from the Sony audio group called ClearAudio+ and implements this into the VAIO Fit line so users experience a virtualized surround sound experience. In fact, the Fit E 14-inch and 15-inch models include "big box speakers" while the Fit E 15-inch also features a subwoofer greater bass.
Sony's brushed aluminum touch-enabled VAIO T Series 15 Ultrabook continues into the summer of 2013 as well.
The VAIO T Series 15 is a robust laptop for users looking for a powerful yet portable solution with a larger screen. Featuring a Full HD (1920x1080) 15-inch touchscreen and a full-size keyboard with an integrated number pad, users can create presentations, edit and watch videos and browse the web in multiple windows without sacrificing mobility.
The updated VAIO T packs Intel's latest generation of Core series processors for high performance as well as Hybrid Drive options for storage, making the VAIO T Series 15 ideal for multi-tasking college students and business professionals who demand speed at all times.
Pricing and Availability.
The Fit 14 and 15 are available beginning mid-May in Steel Black, Steel Pink and Steel Silver for about $ 649 and $ 699. The Fit E 14 and Fit E 15 are available in Black, Pink and White for about $ 549 and $ 579. The VAIO T Series 15 is also available mid-May for about $ 849 at Sony retail stores and other authorized dealers nationwide.
Tip top connection Artist, Madee, entertaining Mbagala residents during Airtel yatosha festival over the weekend. AIRTEL Tanzania has embarked on a massive campaign to promote its recent product dubbed ‘Airtel Yatosha,’ to its customers all over the country. Following the launch of a new service "Airtel Yatosha" customers across the country will now have a chance to make a call to other service providers for as less as 75 percent without changing their SIM Cards. The service demonstrates one nation, one SIM Card, one tariff proposition where customers get a mix of voice, SMS and data in one bundle that can be consumed daily and weekly to suit their needs.
Mr. Mohamed Musa, Zantel Commercial Director for Zanzibar (Centre), displays some of the prizes to be won during the launch of ‘Kwangua na Ushinde’ (Recharge and Win) promotion. Witnessing are Awaichi Mawalla, Senior Manager Marketing Communications Zantel (Right) and Ibrahim Mussa, Marketing Officer for Zantel, (Left).
Zantel Tanzania has launched a new promotion dubbed ‘Kwangua na Ushinde’ (Recharge and Win) as part of its sustained effort to reward loyal and new customers on its network in Zanzibar.
The mega promotion, whose grand prize is a car to one lucky winner at the end of the promotion in July, will also see other winners taking home Scooters, Huawei Media pads, 3G modems and 1 million worth of airtime.
“We are very pleased to announce this new promotion for all our customers, which allows them to derive more value for their money by winning prizes,’ Zantel Commercial Director for Zanzibar, Mohamed Mussa said.
He said that the prizes reiterate Zantel’s commitment in improving their customers’ lives while communicating with their family and friends.
To participate in the draw Zantel customers simply has to recharge through scratch or MIMINA a denomination of Tshs 1000 or more, and they will automatically enter the draw to win the prizes.
The promotion which will run from 6th May to 6th of July, 2013, will also encourage customers to top up, as the more they recharge the higher the chances of winning.
Mr. Mussa said, for the whole period of the promotion Zantel will give 60 3G Modems, 12 Huawei Media pad, Airtime worth of 1 million shillings, 6 scooter Vespa and one grand prize of a car.
“This promotion gives Zantel an opportunity to engage with its customers by appreciating customer loyalty to the network,’’ Mr. Mussa added.
In another development, Zantel has also launched ‘Bonus Balaa’ where in every recharge of Tshs 1000 and above, customers will be doubled their talk time eligible to call all networks for 30 days.
Speaking of the offer, Mussa said the offer is valid for both Zanzibar and Mainland customers.
Zantel is the official brand name for Zanzibar Telecom Limited, the fourth mobile service provider in Tanzania. Zantel is a home-grown Tanzanian company, owned partly by the government of Zanzibar and Etisalat. The company seeks to positively enhance the lives of all its customers through improved communications.
By providing value, high quality and smooth services, Zantel seeks to present customers with service they can rely on whether to conduct business efficiently or simply stay in touch with friends and family.
Zantel is the only telecommunication company in Tanzania offering total communication solutions for both voice and data services through its GSM 2G, 3G, and CDMA networks. Zantel also offers international traffic and carrier services.
The Imports International (T) Ltd (IITL) Group Director, Harish Ladwa briefs journalists during the 10th Anniversary and Show room launch in Dar es Salaam at the weekend.
Imports International (T) Ltd (IITL), a local company that imports and distributes some of world’s leading brands in construction and building materials in Tanzania is set to embark on an aggressive expansion plan that will see the company open up outlets in Uganda, Rwanda and Burundi.
“The company’s mission seeks to ensure that the region’s construction sector gets quality products that meet ISO global standards,” the IITL Group Director, Mr. Harish Ladwa said during the 10th Anniversary and Show room launch in Dar es Salaam at the weekend.
He said that for the past 10 years of operations in Tanzania his company have been forecasting that the coming years holds even greater opportunities. He urged that customers should brace themselves for quality products at very competitive rates.
“Since IITL’s inception in 2003 in the country, the company has maintained it vision and concept of providing all customers big or small with best quality material at the lowest prices possible,” Mr. Ladwa said.
He further said, “with this vision and hard work by our loyal staff and dedicated customers, the company has enjoyed success in its ten years of operations and we are proud to launch our state-of- the art 3500 sq/mtr warehousing facility on Nelson Mandela today in commemoration of our 10th Anniversary.”
Mr. Ladwa however called upon Government agencies to embark on quality control in a bid to intensity fight against the importation of fake construction materials urging that the vice doesn’t only hurt the country’s construction sector but the economy as well.
“The market today is flooded with fake construction materials that put users at risk. Government should instil various quality control mechanisms and take tough action against importers of such products,” he added.
Mr. Ladwa called upon consultants, architects and government organization to support the company’s products in a bid to increase quality standards of the country’s construction industry which will in turn help to ensure quality development in the country.
He expressed his company’s commitment to working with various world class construction material manufacturers that include Saint Gobain, Donn, Jaquar, Montania and Tilcor among others.
Mr. Ladwa said IITL has handled various construction products in Tanzania that include Holiday Inn Hotel, PSPF Tower, Ideal Residence Ltd, Cineplex Cinema (Quality Centre), NSSF Plaza , Airtel Head Office , Exim Tower refurbishment and Protea Court Yard Hotel (Dar es Salaam) among others.
Vodacom Tanzania Corporate Communications Manager, Rukia Mtingwa (left) showing steps to be used when purchasing GNLD products through M-Pesa. Vodacom Tanzania has entered into a partnership with GNLD that will see GNLD customers pay for products through M-Pesa. Witnessing is Daniel Mutiso, a representative of GNLD Tanzania.
Mobile money transfer service, M-Pesa, continues to spread its wings to various sectors of the economy, a move aiming at easing lives of Tanzanians across the country. Dancing along the tune, M-Pesa has entered into a partnership with GNLD Tanzania in a deal that will see individuals pay for GNLD products through the service.
"M-Pesa is a service that is safe and fast. With this partnership, one will not need to waste time visiting a GNLD agent to pay for a certain product. All they need to do is make use of M-Pesa to make the payments," Rukia Mtingwa, Vodacom Tanzania Communication Manager said.
She said that individuals willing to pay for GNLD products do not need to carry cash around for safety reasons.
On his part, GNLD Tanzania Country Manager, Daniel Mutiso said that, "this partnership is the first of its kind in this market. We are happy to launch it today because it shall go a long way in helping everyone in this country."
He said that GNLD will stand on its commitment to make sure that it offers the best products with the highest level of quality so as to promote good health for everyone.
To pay for a GNLD product through M-Pesa, customers are advised to go to the M-Pesa menu and select payments, after which they shall dial one (1) and enter the Business Number, which is 000221. They will then enter the account number followed by the Amount then PIN. Finally, they will be required to confirm in order for the transaction to be complete.
Vodacom has 5 flagship shops in Dar es Salaam and 59 franchised shops across the country.
The current records from World Trade Organization (WTO), shows that East African region is outshining West Africa region in easing costs of doing business and trade.
“East Africa is now doing even better in trade facilitation,” Mr. Richard Eglin, the Director of Trade Policy Review Division at the WTO said. However, he said that the EA region still needs to pull up its socks to make sure it records more desired successes according to international set standards.
According to Mr. Eglin, President Jakaya Kikwete has won accolades by the global trade watchdog by contributing in enabling Tanzania and the entire East Africa overcome unnecessary costs in doing business.
He said that President Kikwete has been one of the symbols of the East Africa region in facilitating trade. “East Africa is now doing even better in trade facilitation and President Kikwete has done extremely well on that area and has emerged an exemplary trade facilitator,” Mr. Eglin said.
WTO leaders have also praised Tanzania move in undertaking reforms at the Dar es Salaam Port, saying that the undertakings puts the port in a chances of being a port of choice in EA.
However the Mr. Eglin said tha alot is to be done on the side of Tanzania and Uganda. “The two countries need to work hard to reduce a convoy of containers increasingly joining long queues to offload since the situation is delaying clearance of cargoes.”
He further said that the developing and Less Developing Countries LDCs need to run fast to reach where developed countries are today. “The landlocked countries need to even work harder to reduce huge costs involving trade facilitation,” Mr. Eglin said.
Few weeks after Airtel announced its plans to launch the new Samsung Galaxy S4 smartphone in Africa, the company has once again come up with another plan to introduce new BlackBerry Z10 smartphone across all its 140 outlets across Africa.
BlackBerry Z10 has already been launched in Nigeria and will become available from Airtel stores across Africa over the next few weeks. The new smartphone will be supported by Airtel's data bundles.
The new BlackBerry world is the company's answer to the iTunes store and Google play and already includes over 70,000 apps and support from eight movie studios and all major music labels.
Whether or not the new launch by airtel can put up a serious challenge against Samsung, Apple and Android remains to be seen.
"This year we will see multiple attempts to fight the Samsung/Apple smartphone duopoly in smartphone hardware—along with the twin Google/Apple duopoly in smartphone operating systems,” said Ian Fogg, senior principal analyst at IHS.
According to Fogg, because of the fast-rising adoption of smartphones, 2013 represents the last, best hope for RIM's BlackBerry 10—along with endangered specimens like Microsoft's Windows Phone, Nokia's Lumia and Mozilla's Firefox—to create a viable third smartphone competitor in the market.
Airtel Tanzania has announced plans to enter in the new phase of distributing books to secondary schools in all regions of the country under its programme of ‘giving back the profit to the community’.
According to Airtel Tanzania Social Service Manager, Ms. Hawa Bayuni, the project will target all the secondary school chosen by the Ministry of Education that are in serious need of books.
"At this juncture a number of schools will benefit at all regions,” she said during the Airtel’s donation of Mathematics, Chemistry and Biology books worth Tshs 12 million to four secondary schools in Tanga region as part of the company's programme to boost the education sector in the country.
Speaking during a brief handing over ceremony held in Tanga over the weekend, Korogwe District Education Officer, Mr. Shaaban Shemzighwa said the donation would reduce books scarcity and improve education level in the region. "We hope that these efforts will spread all over the country and be a catalyst in the fight against ignorance among Tanzanian youths," he said.
Since the company started this project eight years back more than 1,500 secondary schools in the country have been reached. The company have equally distributed to every region and reached students at all corners of the country.
"We have to praise Airtel for their donation because lack of books is one of the problems that curb our teaching efforts especially on science subjects,” One of the headmasters of the schools that benefited by the donation said. He called for students to make use of the donated books and keep them well.
In few months to come, investors in horticulture industry in Mbeya region will have a means to export their product to the rest of the world, thanks to the completion of Songwe Airport.
“The region’s economy will soon blossom as they will be able to frequently export their merchandise abroad following completion of the Songwe airport construction,” President Jakaya Kikwete said in Mbeya recently.
He further said that, “I’m glad to inform you that Mbeya’s dream of having an airport to export goods to other countries has been fulfilled. The long awaited and much anticipated airport is projected to boost the economy of Mbeya region particularly the flower, fruit and vegetable production,” he said.
According to Mr. President, the Songwe airport is aimed at facilitating transport of the produce abroad.
He said that the airport is now undergoing the final touches which will take a few months and then operations will begin. “A few more things are left to be done. This will take a few more months and then the exporting business will start.”
Mr. President said that what’s important now is to formulate an effective plan for the use of this airport. “As you all know the purpose of the construction of this airport was to stimulate the region’s economy particularly in facilitating easy transport of flower, fruits and vegetables to other countries.”
A directive on the way forward has been issued to the regional leaders in the agricultural sector to which they should abide. “I have already instructed the regional authorities on what to do to ensure that the airport is used thoroughly for your benefit,” he said.
However, he cautioned the people to plan wisely on how to exploit this opportunity while there was still time to do so.
The website is to launch a subscription service this week, charging users to view content on some of its specialist channels.
Access to a single channel is expected to cost £ 1.28 a month and will apply to as many as 50 with exclusive videos, TV shows and films. Paying may also remove ads from free videos.
The subscription money is also expected to fund new TV and film shows to be seen exclusively online.
Last year the site, owned by Google, launched 60 partner channels, including BBC Worldwide on Earth, ITN, Mixmag TV and the Jamie Oliver Food Channel, Channel 4 and Film 4, The Onion and Howcast. It is not yet known which of these will be on subscription.
Over the years, YouTube has been slowly evolving away from its original user-generated content model, toward one where the service plays host to a variety of slick, professional videos from well-funded creators. Most of the major Hollywood studios now have YouTube channels, as do TV networks ranging from HBO to the BBC.
According to the FT report, the video service has also doled out some $ 200 million in advances to independent content studios over the last 18 months – so it's clearly expecting some of this stuff to translate into big bucks.
It's a strategy that's in keeping with those adopted by rivals such as Netflix and Hulu, both of which offer subscriptions and both of which have commissioned high-budget original content featuring Hollywood celebs.
The International Institute for of tropical Agriculture (IITA) Director-Eastern Africa Hub, Dr. Victor Manyong, briefing reporters on the coming inauguration of the state-of-art science building in Dar es Salaam. Looking at is the regional Corporate Communication Officer, Ms. Catherine Njuguna.
The long awaited $ 5 million science building will now be inaugurated next week, on 13 may 2013, by the Tanzania president, Dr. Jakaya Kikwete. The facility is dedicated to the fight against hunger and poverty in Africa.
Among others, His Excellency Olusegun Obasanjo, the former president of Nigeria, Dr. Ali Mohamed Shein, President of Zanzibar and IITA Goodwill Ambassador will grace the occasion.
The ultra-modern environmentally friendly science Building has five modern laboratories dealing with agricultural challenges such as plant and pest diseases, poor soil fertility and crop value addition, with capacity to hold up to 70 researchers from the national partners and students from higher learning institution in the East Africa region.
“Its construction is part of the institute’s effort to boot agriculture and improve livelihoods of small-holder farmer in Eastern Africa through it research for development approach. It is also a sign of the institute’s commitment to fight hunger and poverty in the region,” The International Institute for of tropical Agriculture (IITA) Director-Eastern Africa Hub, Dr. Victor Manyong, said during a press briefing in Dar es Salaam.
He said that the institute works with public and private sector partners to enhance crop quality and productivity, reduce risks to producers and consumers, and generate wealth from agriculture.
Tanzania Revenue Authority has significantly pledge to increase the overall revenue collections in order to reduce donor dependency as most of the development partner countries are experiencing financial crises in their countries which reduce their contribution to budgets of developing countries. In a move, TRA have set new tax revenue targets with the ultimate goal of collecting nearly Tshs 19 trillion a year by 2017/18.
“This will be achieved by improving efficiency in tax administration and widening the tax net in order to collect more revenue especially from specialized sectors of mining, oil and gas, telecommunication, tourism, construction, real estate, financial sector, high net worth individuals and incomes from the informal sector,” Commissioner General, Harry Kitillya, said.
TRA expects to increase tax revenue collections from Tsh 9.5 trillion in 2013/14 to Tsh 18.8 trillion in 2017/18, which will be more than double the targeted collection for the current financial year.
The targets will be realized by implementing its fourth five-year corporate plan, whose execution starts in the forthcoming financial year and focuses on boosting domestic revenue collection.“In the next five years, TRA aims at increasing the revenue yield to 19.9 percent of GDP.”
According to TRA corporate plan document, the purpose of enhancing domestic resources is to ensure the government becomes more self-reliant and drastically cuts donor dependence in financing its budgets.
“In terms of revenue collection, attention shall be on enhancing domestic revenue collection bearing in mind that with the regional groupings, contribution from international trade taxes will keep on declining hence we expect contribution from domestic taxes to increase from the current 62 percent to 70 percent by June 2018,”said Mr. Kitillya.
Mr. Kitillya, said that, during the implementation of the third corporate plan, revenue collections were set to increase from Tsh 4.05 trillion in 2008/09 to Tsh 8.03 trillion at the end of the current financial year next month.
The organisation’s first corporate plan focused on institutional and capacity building of TRA and the second on integration of domestic operations for effective service delivery.
Whereas the third focused on automation of operations, the fourth corporate plan will seek effective utilization of ICT to offer convenient services to taxpayers while improving compliance.
Effectively from May 15 this year, the TRA task force will be embarked in a move to monitor all traders, making sure they issue receipt to their customers as per transaction made. The undertaking is meant to enhancing the government effort to improve revenue collection.
According to TRA director of educational services, Richard Kayombo, the exercise will involve business people at all levels of capital investment. “We will take stern measures against those not complying, including revocation of their trading licenses. There will also be a penalty of between one and three million shillings for those who would fail to follow the rules,” he said.
He further said that buyers of consumer goods should develop a culture of demanding fiscal receipts for every purchase made from their sellers. “Buyers do not know the importance of receipts for the goods they purchase. Receipts help keep a good record of the financial transaction during auditing.”
Also he issued a directive to sellers to make sure they issue legal receipts to their customers for every purchase made or else the government would take to task business people who dare not comply.
The Tanzania Chamber of Commerce, Industry & Agriculture (TCCIA) won the second prize in the World Chamber of Commerce competition for the best project amongst groundbreaking innovations from all over the world. The chamber has won for its innovative technology on controlling and reporting Non-Tariff Barriers (NTBs) across its borders using mobile phones.
According to TCCIA executive director, Mr. Daniel Machemba, the newly introduced system of reporting NTBs across borders using mobile phones has also been recommended to be replicated in other east African countries in a bid to smoothen cross border business undertakings.
“The system has not only helped in reporting and solving NTB issues, but also acted as a platform for data collection using scientific and technological revolutions taking place in the planet. This system is the first of its kind in the EA and is a beacon in the battle against NTBs, regulatory frameworks or official hurdles which slow free commerce and add to the cost of transporting goods,” he said.
The short messaging system (SMS), online non-tariff reporting and monitoring mechanism was developed by the TCCIA to get the business community, not just to grumble about the NTBs, but also to log them, report them and get referred to those who have the authority to overturn them.
Standard Chartered Bank Plc have signed a $ 100 million risk participation arrangement with the UK’s development finance institution, CDC Group plc, to boost job creation and economic growth and help increase the availability of trade finance in developing countries in Africa and South Asia. Under the agreement, the two institutions will bear the risks of local banks involved in supporting trade flows of Standard Chartered’s clients.
According to Standard Chartered Bank, the agreement which is expected to generate an incremental trade volume in excess of $ 1 billion over the three year life of the transaction will boost the level of trade finance in some of the poorest countries of Africa and South Asia.
The local banks will be able to pass on the benefits of the facility by offering trade finance to their clients who rely on trade for growth and job creation.
“Growing businesses in Africa and South Asia continue to find it difficult to get the finance they need from local banks to help them reach international markets. Our arrangement with Standard Chartered will help boost trade finance which is fundamental to economic development,” the CDC’s Chief Executive, Diana Noble, said.
The global financial crisis sharply reduced the availability of trade finance in developing economies and CDC and Standard Chartered have been working to promote trade finance arrangements that maintain and expand financing lines, such as letters of credit and bank guarantees.
“By working together we can support exporters and importers in poorer countries. This is the first time that CDC has undertaken a bilateral risk-sharing deal and in doing so we’ve been able to target precisely our support to countries in Africa and South Asia that most need it. This is a new way for CDC to get its capital to work and with Standard Chartered we have a partner with an excellent network and understanding of our markets,” she said.
The Global Head of Sales, Transaction Banking at Standard Chartered Bank, Jiten Arora, talking after the signing of the agreement said, “We are delighted to be partnering with the CDC for its first bilateral risk-sharing programme. As trade finance leaders across Asia, Africa and the Middle East, we are committed to encouraging global trade the lifeblood of the world economy and are pleased to be building on our successful track record of supporting the growth of trade flows through risk sharing programmes.”
General Manager of Dun & Brandstreet Credit Bureau Limited, Adebowale Atobatele speaking during the consultative workshop held at the Hyatt-Kilimanjaro hotel in Dar es Salaam. The country's first licensed Credit Bureau - Dun & Bradstreet Credit Bureaus Limited - has unveil its plans to support banks and financial institutions in Tanzania improve the assessment of credit, loan applicants with a view to ensuring that they make only the most informed business decisions. First right is Mr. Miguel Llenas, C.E.O of Dun & Bradstreet Credit Bureaus Tanzania Limited.
Bharti Airtel has selected Rwanda, Kenya and Malawi as the first countries to be deployed with of HD voice (HDV) services in its ambitious move to roll the technology out across its entire African footprint. The company said it would make further HDV service launch announcements in Africa during the course of 2013.
This is the most significant improvement in voice communications in the past two decades. Surveys confirm that customers place a high value on HD Voice,” Chief marketing officer, Mr. Andre Beyers said.
In a survey conducted by Telecoms.com Intelligence in January this year, out of more than 100 operators, just 26.5 percent of respondents said they believed that consumers would up their spend for HDV. More positively, 61.4 percent of respondents felt that HDV will provide a competitive advantage over OTT communication providers and 53.8 percent said they believe it will be a key service for the enterprise market.
The survey also revealed that a number of operators are planning to introduce HDV in tandem with or after they have brought Voice over LTE services to market, although HDV does not require LTE in order to function. 34.9 percent of respondents said they plan to launch HDV at the point of VoLTE deployment, while a further 29.3 percent said they would launch it in the 24 months following.
Airtel pointed out that both parties on a call need to be on HDV-compatible handsets in order to get the full benefit of the technology.
HDV remains a relatively niche technology in commercial terms, with the GSA reporting in late January this year that only 61 mobile networks in 45 countries had deployed the technology.
The Barclays Tanzania Head of Communication and Citizenship, Mrs. Tunu Kavishe, (Right), handling over the dummy cheque to Dr. Lumumba Mwita, the Project Director from Baylor College of Medicine working with the Teen Club. The Tshs 61 million shillings will be used to support youth living with HIV/AIDS.
Tanzania has received about $ 4.6 billion in investment and development aid from China over the past decade, new data shows, reflecting the growing influence of the Asian giant in the country.
China has become Tanzania’s second largest source of investment and the largest trading partner. Tanzania’s trade with China rose 15 percent in 2012 to reach $ 2.47 billion last year.
According to global research firm Open Data for International Development (AidData), East African region has also received a sum of $ 11 billion in investment and development aid from China between 2001 and 2011, with mineral rich Tanzania and Uganda getting 80 percent of the funds at $ 4.6 billion and $ 4.5 billion respectively. Kenya received $ 1.6 billion, while Rwanda and Burundi received $ 469 and $ 165 million respectively.
However, the UK and US remain the biggest source of direct investments into East Africa, with their share expected to increase following the discovery of hydrocarbons.
The latest figures from the Organization of Economic Co-operation and Development (OECD) shows that in 2011 alone, the US extended to Kenya $ 620 million in aid, while the UK gave Tanzania and Uganda $ 219 and $ 163 million respectively.
In general, China has channeled $ 75 billion to Africa through investment and aid in the past decade compared with $ 90 billion from the US.
“When you compare the US and China, the total official finance is roughly comparable,” said, Bradley Parks, the executive director of AidData.
The increased inflows from China also reflect the growing trade between Africa and the Asian dragon, growing 10 times from $ 15 billion in 2001 to $ 150 billion as of last year.
Trade between Kenya and China has grown from Ksh 45 billion ($ 535 million) in 2007 to Ksh 145 billion ($ 1.72 billion) in 2011.
China is particularly targeting infrastructure development projects across the region, pitting it against development partners such as India, Japan and traditional giants like Europe and the US.
In Tanzania, the Chinese government is funding a 523 kilometre natural gas pipeline from Mnazi Bay and Songo Songo Island in Mtwara region to Dar es Salaam. The project will cost $ 1 billion.
Among infrastructure projects the Chinese government has funded in Uganda are the construction of the Mandela National Stadium as well as the foreign affairs and presidential buildings in central Kampala. China has also promised to fund the delayed $ 2 billion 600MW Karuma hydropower dam, after its original financier, the European Union, raised queries over the procurement process.
In Kenya, China has provided $ 1.4 billion loan to the geothermal sector. Rwanda, on the other hand, is courting China to finance the $ 600 million Bugesera International Airport construction.
Ms. Sauda Rajab, MD & CEO Precision Air.
Precision Air Services, one of the fast growing airlines in Tanzania has issued a statement to reassure its passengers and stakeholder that it will continue to operate its Zanzibar route as usual.
“We wish to notify our passengers and the Tanzania at large that your Airline is still in full operation of its route to Zanzibar. Neither The Zanzibar Revenue Board (ZRB) nor the Airport authorities have refused our fleet from touching ground in the Spice Isles,” Ms. Sauda Rajab, CEO and MD of Precision Air said.
The reaction by MD and CEO comes few hours following the story published in The Daily News paper ISSN 0856-3812 dated 3rd May 2013, with the headline, ‘ZRZ pins Precision Air over 3.4 billion unpaid taxes’, quoting from a letter sent from the Zanzibar Revenue Board (ZRB) to Precision Air Services Plc in which it recorded the ZRB’s instructions to ‘restrain departure of all flights operated by Precision Air Services, as well as closure of its offices’.
She further confirms that the Zanzibar Revenue Board had raised concerns which were discussed by both parties in a meeting held on Monday 29th April 2013 which resulted to mutual agreement.
PW is also said to be receiving full support and cooperation from ZRB. “This simply has been a matter of miscommunication between parties but we are delighted that after our discussion our offices are in deed open for business and we welcome you all to continue with your travel plans. We couldn’t be in a better working relationship with ZRB as we are today,” she said.
As declared in the statement dated 3rd May 2013 and published in the company’s website, Precision Air promises to continue maintaining to be the safest and competitive ‘Airline of Choice’ in the country in providing need based transportation services and equipment to all areas in Tanzania and beyond.
Precision air is the only airline in Tanzania listed on DSE and earlier this year was listed for the first time as Superbrand in East Africa.
The airliner has the largest network than any other airline in Tanzania with operational stations in 18 destinations within and outside Tanzania with Dar es Salaam being its hub and now developing Mwanza as its second hub.
Over the past year, the Airline added 2aircrafts (2 ATR 45-600) bringing the fleet to 9ATRs and 2boeings.
The Managing Director of CRDB Bank Plc, one of the giants bank in Tanzania, Dr. Charles Kimei has recently been elected as a new chairman for Tanzania Bankers Association (TBA).
Dr. Kimei has unanimously elected to take over from the former Managing Director for National Commerce Bank Ltd (NBC), Lawrence Mafuru who resigned since December last year.
Speaking after his election, Dr. Kimei said that: “I would like to thank the entire members of the Extraordinary General Meeting for having shown trust in me and I plead for their full support.”
Dr. Kimei further promised to work closely with all stakeholders, particularly with the legislators and regulators, to facilitate the growth of TBA towards its vision of becoming the umbrella body of the banking industry in Tanzania.
TBA which comprise of 40 banks and financial institutions licensed by the bank of Tanzania to engage in banking business in the country –held an Extraordinary General Meeting (EGM) at the Hyatt Kilimanjaro Regency Dar es Salaam on April 30, 2013 to elect the new chair.
According to the statement by the Association, the Managing Director for Azania Bank, Mr. Charles Singili, will continue to be the Vice Chairman of TBA.
Reporter for Clouds TV, Mr. Austin Bayadi (first-left) clicking the computer button during the final draw to choose the 50 million grand winner of Amka Milionea promotion. Witnessing is Public Relations manager of Airtel, Jackson Mmbando (second-left) together with representative from the Tanzania Gaming Board Mr. Emmanuel Ndaki seconded by Marketing Officer of Airtel, Khalila Mbowe.
Airtel Tanzania yesterday ran the final draw of Amka millionea promotion to reward the grand winner of 50 million shillings cash prize.
The final draw was held yesterday at Airtel headquarters in Morocco and witnessed by members of press where Mr. Layakal Akbar Thawer (60) a resident of Kariakoo-Dar es Salaam and a business man emerged the winner of 50 million shilling.
Speaking during the draw Airtel Marketing Director, Levi Nyakundi said, Airtel through Amka millionea promotion have so far rewarded lots of customers from various regions in the country. “Today we have witness Mr. Akbar from Dar es Salaam won 50 million shilling cash prize through this promotion. This demonstrates our commitment in providing quality and affordable service while rewarding Tanzanians and our customers through different promotions.”
“We will continue enhancing our service to ensure we reach more Tanzanians, bring affordability in our services and offer freedom to talk, through Airtel Yatosha we have made it possible for Tanzanians to communicate across network at affordable and competitive tariff. Our customers have testified to say truly Airtel Yatosha.”
He said that the company believes in innovation, hence continue to invest on its network while bring more innovative products, rewarding its customers through promotion whilst offering valuable services including banking facilities through Airtel money, the fastest internet service 3.75G, provide telecommunication solution to its esteemed customers that are of quality and affordable.
Speaking through the telephone, 50 million winner, Mr. Akbar said he is glad to emerge the grand winner of the promotion and urge Tanzanians to participate on Airtel promotion to stand a chance to win.
Amka millionea promotion launched last year December. So far more than 1458 customers from different part of the country have been rewarded cash prize worth 626 million.
LG has agreed to work on Google's next Nexus smartphone, relying on Google to boost its smartphone business. The smartphone is likely to be launched as the Google Nexus 5.
It is anticipated that the gadget will have a 5 inch screen. It's also likely to run Google's upcoming Android 4.3 mobile operating system and feature a dirt cheap price tag.
While it isn't surprising that LG was quick to sign up for the assignment, it is surprising that Google has picked LG again, despite the Nexus 4 suffering months of delays that Google blamed on its build partner.
"Supplies from the manufacturer are scarce, and our communication has been flawed. I can offer an unreserved apology for our service and communication failures in this process," Google UK MD, Dan Cobley said in December last year.
Google is looking to grow its business relationship with LG. The firms could also be looking to work jointly on an OLED Smart TV.
Google's and LG's respective CEOs Larry Page and Koo Bon-joon recently met in South Korea to discuss working together on Google's next generation flagship Nexus smartphone.
The US Pentagon has given the thumbs up to the Samsung Galaxy S4 and Blackberry 10 devices for use by the US Department of Defense (DoD). The Pentagon announced that it has cleared Samsung's Knox security software, which will make its debut on the Galaxy S4, along with Blackberry 10 devices including the Blackberry Q10, Blackberry Z10 and Playbook tablet.
"We are pleased to add Blackberry 10 and the Samsung Knox version of Android to our family of mobile devices supporting the Department of Defense. We look forward to additional vendors also participating in this process. This is a significant step towards establishing a multi-vendor environment that supports a variety of state of the art devices and operating systems.” a Pentagon spokesperson said.
Samsung CEO, JK Shin said that, "We are very pleased to announce that the US Department of Defense has approved Samsung Knox enabled devices for use in DoD networks. This approval enables other government agencies and regulated industries such as health care and financial services to adopt Samsung Galaxy smartphones and tablets. This is a significant milestone for Samsung as we work to grow our relationships within government and large corporate enterprises."
According to Blackberry spokesperson, The US Department of Defense's strict security requirements are amongst the highest in the world, and this allows other government bodies to follow suit. "The role of Blackberry including devices and Blackberry Enterprise Service 10 continues to be important and relevant for security conscious organizations.
Apple needn't feel too discouraged; however, as the DoD said that it's likely to clear iOS 6 for military use in the next few weeks. However, the Pentagon said that it still has a few questions about iOS that Apple needs answer, so it's not yet guaranteed approval.
Few days ago, Microsoft released a preview of Skype Video Messaging for the desktop, Windows 7 and Windows 8, version of Skype and had specified that it would be ‘coming soon’ to the Metro and the company delivered on that promise.
Skype Video Messaging lets one record and send a video message to friends and family on Skype anytime, even when they’re offline. “It’s important to remember that this is a preview version; as such, it may not be as smooth as it will be in the final version,” Microsoft said in a statement.
The new update doesn’t bring any other new features to the table aside from the usual round of bug fixes we’ve grown accustomed to with app updates. The only general fix Microsoft specified is regarding a bug that results in green video showing up on certain laptops. Also, it’s important to note that flash is required, as is the Windows Store in your particular market in order to download the app.
The company is inviting its users to submit feedback on the feature.
Microsoft also plans to bring the feature to Windows Phone users, though it didn’t specify when exactly this rollout will occur. “We’ll be sure to keep everyone up to date on new developments,” the company said.
Mr. Ralph Corey, Global Director, World Ahead Program, Intel Corporation.
It is critical that African governments and the public sector should work together more closely than ever to deliver universal broadband access, across the continent if it is to drive economic growth, create jobs and provide a range of economic and social benefits.
“It’s vital that Universal Service Funds (USF) be utilized for broadband adoption if we are to unlock the transformative benefits for all Africa’s people, as many remain un-served,” Ralph Corey, Director within the World Ahead Program at Intel said.
USFs play an important role in the transition of developing countries to full broadband-enabled societies, says Corey. This primarily includes the transformation of education systems through technology, and sustained job creation in industries that benefit from having access to information and global markets.
This week there will be an Intel Africa Universal Service Fund (USF) & Broadband Leaders Forum, which will bring together regulatory authorities, Universal Service Fund Managers, Government Ministries and broadband stakeholders in Zanzibar for a four-day summit.
Mr. Corey says the forum provides a way to help Universal Service and Access Funds (USAFs) leaders share experiences, challenges and ideas that contribute to building capacity throughout the region.
“The importance and value of this dialog is critical to share our collective best practices so that we can elevate our economies, improve social benefits and cascade these benefits down to our citizens.”
Intel Africa Universal Service Funds (USF) & Broadband Leaders Forum – building capacity within the regions discusses broadband strategy and programs for countries across the continent.
Among the topics of discussion will be the latest issues and best practices in utilizing USFs for broadband adoption, broadband strategy and national plans and examples of Demand Creation programs to engage the citizens and help reduce the digital divide.
The Forum will have a special focus on the delivery of USF programs, including real solutions to obstacles in program development, implementation and operations. The event will also include a special section on skills development and capacity building for regulators, fund managers and ICT-focused public and private sector attendees.
“We have a great digital divide in Africa to conquer, and we will fall further behind if we don’t act quickly,” said Corey. “I hope that we can all take to heart what we learn, and act aggressively to implement it, so that we can take full advantage of broadband’s ability to elevate our countries and citizens to successfully learn, compete and thrive in the new digital, global marketplace.”
Barclays Bank has donated about Tshs 61 million to Baylor Tanzania to support youth living with HIV/AIDS.
“Barclays Bank takes its Citizenship role seriously and recognizes it as one of our key business deliverables. We are pleased to work with Baylor’s Teen Club and work to empower HIV-positive adolescents to build positive relationships, improve their self esteem and develop their full potential through the acquisition of life skills, peer mentorship, adult role modeling and structured activities, ultimately leading to improved clinical and mental health outcomes as well as a healthy transition to adulthood,” Mrs. Tunu Kavishe, the Barclays Tanzania Head of Communication and Citizenship said.
Baylor-Tanzania is part of a broader, Africa-wide network: the Baylor International Pediatric AIDS Initiative (BIPAI), which operates Children’s Clinical Centers of Excellence (COEs) and other clinical programmes in a dozen sub-Saharan African countries as well as Romania.
Baylor is specializing in providing family-centred child health care, primarily around HIV, TB, malaria, malnutrition and other common causes of childhood illness. More than 100,000 children and adults have received BIPAI services since 1996, making it the world’s largest university-based child health programmes.
“Providing proper care for HIV-positive adolescents requires strong social support—by families, peers and adult role models—to encourage medication adherence, disclosure, proper nutrition and other healthy behaviors,” The Project Director from Baylor College of Medicine working with the Teen Club, Dr. Lumumba Mwita said.
He said that adolescents living with HIV have specific needs; however, these needs are often unmet for many reasons.
Baylor’s Teen Club offers education on how to live positively with HIV and understand that there is life beyond an HIV diagnosis. It is a place to find accurate, age-appropriate sexual and reproductive health information, life skills including leadership development, decision-making, negotiating skills, assertiveness, communication, income generating projects, and more.
“We would like to extend our sincere appreciation to the Barclays Tanzania Management for recognizing the need to work with Baylor’s and assist us with funds to continue operating and delivering the right skills to the youth,” he said.
Baylor Tanzania currently supports over 600 Teen Club members in both Lake Zone -Mwanza, and Southern Highlands Zone Teen Clubs – Mbeya, this number is expected to increase as more children living with HIV are identified, enrolled in care and survive to adolescence and beyond.
Flytxt, the provider of Big Data analytics powered revenue and customer experience management solutions for CSP’s, has been included in the list of ‘Cool Vendors’ in Gartner’s report ‘Cool Vendors in Emerging Markets, 2013’.
“We are pleased to be recognized by Gartner for our unique focus on generating more than 10 percent economic value from operator data by leveraging Big Data Analytics as well as for our proven and highly adopted revenue sharing model in emerging telecom markets,” Flytxt CEO, Dr. Vinod Vasudevan said on the occasion.
Flytxt made its foray into Africa with yuMobile in 2011. Since that time, Flytxt today has over 23 telco clients to its kitty across the African continent. Some of the partnerships announced already are Zantel Tanzania, Warid Uganda and Warid Congo.
Flytxt brings the latest technology to the African market to usher in a new era of customer experience management where subscribers are able to receive meaningful, timely, contextual and intuitive communication that increase their customer satisfaction on a given network.
“Cool vendors are vendors that have captured Gartner's interest during the past year because they offer innovative or intriguing technologies or solutions. In this research, we highlight vendors that have an impact specifically on emerging markets,” read part of Gartner’s statement.
Flytxt’s Marketing Excellence Center brings together experts with in-depth knowledge and global experience of working with the leading Telcos of the world. These experts work as a team with Flytxt’s Telco clients to streamline their marketing strategies and maximize their revenue while providing superior service to the customers.
Mr. Abhay Doshi, VP, Product and Marketing, Flytxt, while expressing satisfaction over getting included in ‘Cool Vendors’ list commented, “We have many strong use cases in the highly competitive prepaid markets demonstrating our value proposition of enabling high impact marketing campaigns, reducing churn and increasing customer loyalty.” He also added, “These use cases would help us in gaining significant traction in other emerging and developed markets as well.”
Flytxt has already deployed their platforms in many leading and progressive mobile operators in Asia and Africa serving more than 400 million subscribers and has generated more than $ 250 million as incremental revenue for operators till now. The company recently announced the launch of ‘first of its kind’ operator anchored mobile ad market place in Bangladesh.
Jubilee Holdings Limited, East Africa’s largest insurance group, has announced an increase in pre-tax profit for the 12 months ending December 31, 2012, to Kshs 2.69 billion up by 27%.
The number one composite insurer, which was last year voted the ‘Best in Claims Settlement’ by the Association of Insurance Brokers of Kenya (AIBK), also saw its assets base grow from Kshs 38 billion to Kshs 47 billion in 2012.
As a result of the impressive results, the directors have subsequently proposed a dividend of Ksh 7 per share totalling to Kshs 419 million. This is an increase from the previous year’s dividend which totalled Kshs 299 million.
While releasing the results, Jubilee Holdings Chairman, Mr. Nizar Juma, announced that the Group achieved an increase in Pre-tax profit to Kshs 2.69 billion, supported by an impressive insurance operating profits.
The total insurance result increased by 46 percent to Kshs 790 million in 2012, due to excellent short-term underwriting profits which grew by Kshs 611 million, with a combined ratio of 91.8 percent, and increased contributions from Jubilee’s fast growing life insurance business profit of Kshs 179 million.
“We are happy to announce that Jubilee recorded a Kshs 20.25 billion gross premium level which is a 27 percent increase compared to the previous financial year,” said Mr. Juma.
“It was especially pleasing to note that strong growth was achieved in all of the territories in which Jubilee operates, emphasizing the robustness of our regional business model,” added Mr. Juma.
At group level, life insurance business recorded a 23 percent growth, and short term business increased by 28 percent, while Jubilee’s successful medical business recorded a remarkable 32 percent growth. Jubilee’s strong performance marks the success of the company’s initiatives to increase market penetration, through micro insurance and the extension of distribution networks to make insurance more accessible in both urban and rural communities.
Jubilee is currently present in 5 markets and is now in the planning stage for its next phase of regional expansion. “These results, combined with Jubilee’s capital strength, provide a strong platform from which to launch our ambitious expansion plans, which aim to establish Jubilee as a leading Pan-African insurer by 2020,” added Mr. Juma.
The Group’s impressive end year results translate into an increase in the profit attributable to shareholders, with the earnings per share increasing to Kshs 35.32 from Kshs 30.09.
Early this year, Jubilee Insurance entered into a partnership with leading international healthcare company, Bupa International. The partnership will see Jubilee Insurance providing Bupa’s world leading international health insurance products to its customers in Kenya, and later in the other countries where Jubilee operates.
This partnership demonstrates Jubilee’s commitment to the region, and providing people in Kenya with access to high quality healthcare.
During the period under review, Jubilee Kenya was honoured with 13 insurance awards. At the BIMA awards 2012, the Association of Insurance Brokers of Kenya (AIBK) presented Jubilee the ‘Best Claims Settlement Award, a clear demonstration of the company’s commitment to honouring its insurance contracts. During the same year under review, Jubilee was also crowned the “Best Pensions Fund” and the “Best Quoted Company of the Year” by the Capital Markets Authority (CMA).
The latest Regus Business Confidence Index reveals that 92 percent of East African businesses are planning to increase or maintain headcount in 2013. The survey of more than 26,000 businesses across 90 countries highlighted a strong emphasis on recruiting more sales and marketing staff in East Africa.
This positivity bolsters a stable business confidence index score which has remained almost unchanged in East Africa since October 2012.
“The stand out figures are not just that firms are looking to recruit but their plan is to invest in sales and marketing, this shows that companies feel it’s the right time to go out there and sell,” Peter Vieira, Area Director East Africa & Zambia from Regus the global workspace provider said.
He further said that, these results suggest that sales and marketing professional will be in high demand in the coming months. “Businesses need to consider how to recruit and retain the best in the field, ensuring they can remain competitive in their market.”
According to Mr. Vieira, all trends indicate that offering flexible working will move from a ‘nice to have’ perk to a necessary condition of employment, being a key to securing and retaining the best employees for any company.
“As younger people come into the workforce they have a very different attitude to work, placing flexibility and quality of life above more traditional considerations. But flexible working also brings additional benefits helping businesses cut fixed office space costs and increase staff productivity,” he said.
From right, Peter Jiangsheng, Huawei Government & Media Relations Manager Manager followed by Mr. Bruce Zhang, the Managing Director of Huawei Tanzanaia holding a Tshs 12.8 Million check and desktop computer which were donated to Magulilwa secondary school in Iringa. Holding the dummy cheque is the headmaster of Magulilwa Mr. Pankras M. Mgongolwa and the school accountant Mr. Todi Mdete.
As part of their ongoing Corporate Social Responsibility program, Huawei Technologies in Tanzania has donated 10 computers and Tshs 12.8 million for computer lab set up for Magulilwa secondary school to promote connectivity.
“Our support to the Tanzanian community is aimed at improving the learning infrastructure and provide a better learning environment by raising ICT awareness amongst students,” Huawei Tanzania Managing Director, Mr. Bruce Zhang, said.
He said that investing in ICT education is important for many reasons. On a national level it is important because the ICT industry is a driving force for sustainable progress and national development. On a more personal level, improved computer skills gives job opportunities and means to access knowledge and the ever-growing social network.
“The interest amongst the students confirms that this is an important area and considering the overall global development. Huawei is committed to continue investing, serving and growing with Tanzania,” added Mr. Zhang.
International Telecommunication Union (ITU) estimates that, by end 2012, there were close to 2.5 billion people using the Internet– but only around 25 percent of people living in the developing world. The report confirms that, by 2009 in OECD countries, some 93 percent of 15-year-olds had access to a computer and the Internet at school, with a ratio of eight students per computer. In developing countries, on the other hand, access to ICT facilities remains a major challenge. Huawei hopes to bridge this divide with this project in Tanzania.
Speaking on behalf of the school, the headmaster Mr. Pankras M. Mgongolwa said, “We are very pleased with the contribution from Huawei, the funds will help transform our ICT department and enable us to buy ICT equipments. The 10 computers will create an opportunity to strengthen the department and improve the learning environment and boost students’ ICT talents.”
Huawei is a world leading ICT solution Provider. Since its inception in Tanzania in 2001, Huawei have been engaging in several Corporate Social Investment activities in the field of education in the country. The recent initiative is expected to empower the upcoming generation, who wants to pursue computer studies as well as ICT talent development with the aim of enhancing economic growth in Tanzania.
One of the leading restaurants in the United States of America, KFC, has announced plans to open a second outlet by the end of September in the city centre at the new diamond Plaza building. The move is meant to beef up the number of eatery spots in the Tanzania's commercial city.
"We are seeing a transformation in the way Tanzanians eat out. The range and quality of new restaurants and eating options is so encouraging. Things are changing fast here and we just want to be part of the change," he said.
He said that Tanzanian market should expect more from KFC. “At works, we are planning to launch a 'Drive-Thru', which will be the first of its kind in Tanzania and is expected to be opened towards the end of March next year.”
"We have gone to great lengths to ensure that our customers experience will be like that in any KFC restaurant worldwide, while we retain a strong link with traditional family values, and we also appeal to young and inspirational customers who want to be a part of a global experience," he said.
Early this week, KFC, one of the world's largest and most famous quick service chicken restaurants, opened its first of several outlets in Tanzania. KFC which is well known for serving freshly prepared food in over 17,000 restaurants worldwide opened its doors to customers at its flagship outlet located at Dar es Salaam's posh suburb of Mikocheni.
Speaking at the official opening, the KFC Tanzania Managing Director, Simon Schaffer said the idea of bringing the KFC to the Tanzanian market has been in the making for the past three years, saying the company had to ensure that all the ingredients are sourced from local suppliers.
He said that all team members (KFC terminology for cooks and cashiers) received an intensive six month training here in Dar es Salaam and is expected to raise the bar significantly in terms of quick service. KFC has its roots in Kentucky, USA, where Colonel Harland Sanders created his secret blend of herbs and spices, and to this day the famous recipe remains at the heart of KFC brand.
Ms. Zena Tenga, Executive Director of the Hassan Maajar Trust.
Over 750 students in Singida District will benefit from 264 desks donated by Hassan Maajar Trust in partnership with the National Housing Corporation (NHC).
“I would like to thank Hassan Maajar Trust and NHC for their immense support in the education sector, in Singida. Students in Singida particularly those in the rural settings are often faced with many challenges and the number one is that of poor learning environments and so we really appreciate partners who assist to create better learning conditions for our children. Overcoming some of these challenges and have a conducive learning environment, set standards and encourage better results,” said Dr. Parseko V Kone, Singida Regional Commissioner (RC).
This donation is the second of five that are facilitated from funds raised by the Hassan Maajar Trust in December 2011 during its Fundraising Gala Dinner. For this particular donation a total of Tshs 22,500,000 has been donated of which National Housing contributed Tshs 10,000,000.
“One of our aims is to ensure that no child in Tanzania is learning seating on the floor,” said Ms. Zena M. Tenga, Executive Director of the Hassan Maajar Trust, “we want to make sure that our campaign ‘A Desk For Every Child’ reaches as many children as we possibly can and build a nation of educated citizens.”
“We thank the National Housing Corporation supporting our mission. We will continue to rally the support of all wishing to see our children sitting on desks rather on the floor,” she added.
On his side, Director General NHC, Mr. Mchechu said that, “We are very pleased to see our contribution transform into these practical desks which the students will now enjoy and be comfortable studying from. NHC and the Hassan Maajar Trust have worked well together to fulfil our mission of contributing to something very vital for these schools and their students.”
Hassan Maajar Trust is a non-profit organization, dedicated towards improving the learning environment in schools by addressing and tackling the national school desk deficit across Tanzania through its “A Desk for Every Child” campaign. Its mission is to provide school desks and other furniture and learning equipments for schools in Tanzania.
Tanzania Revenue Authority (TRA) has embarked in a move to fix electronic tax register (ETR) machines in all petrol stations with the aim of improving it efficiency in tax collection.
"We have started a pilot project with Engen petrol stations to test our new ETR machines fixed to the pumps. From now on, when you lift the handle, the machine starts counting how much you have spent. When the handle is returned to the pump, it automatically issues the receipt," TRA Commissioner General, Harry Kitilya said.
He said that under the new system, pumps cannot serve the next customer before issuing a receipt for the preceding customer. “Depending on the success of the second phase, the TRA may implement the ETR system to all businesses nationwide to reduce complaints and increase efficiency,” he said.
According to TRA, a month after a new tax system expanding the use of electronic tax register (ETR) machines, Tanzania Revenue Authority (TRA) expects to collect 600 billion shillings ($ 370 million). Currently, the government collects 400 billion shillings ($ 250 million) per month in taxes.
"Under the new system, businesses that earn anything from 14 million shillings ($ 8,600) to 40 million ($ 25,000) from now will have to use ETR machines," TRA Deputy Commissioner for Domestic Revenue, Generose Bateyunga said.
Mr. Bateyunga further said that about 200,000 taxpayers in the country have been avoiding paying taxes or underpaying.
According to TRA, the ETR machines tabulate sales receipts at the close of each business day and electronically send that data to the Authority for an accurate tax assessment.
In 2010, when Tanzania introduced ETR machines, tax collection improved by 9.6% for the 2010-2011 fiscal year and 23% for 2011-2012. "We are implementing phase two, which will bring on board even more tax payers," she said.
She said that aid from donors has been decreasing, therefore Tanzania must broaden its tax base to fund its developments.
TRA Director for Education and Taxpayer Services, Richard Kayombo, said the authority decided to roll out ETRs due to the difficulty of monitoring sales from manual receipts, as dishonest businesspersons have been under-declaring their sales or not issuing receipts at all.
"We are now embarking on the massive campaign for people to demand receipts for anything they buy. Even if it is a beer, a soda or a needle worth 10 shillings, get the receipt. We ask Tanzanians not just to demand receipts, but to make sure they are ETR receipts and they depict the correct amount paid," Mr. Kayombo said.
He said anyone who sells anything without issuing an ETR receipt will risk being fined 3 million shillings ($ 1,900) on the spot or twice the amount of the tax evaded, which may be more.
In a move aiming at improving doing business in Tanzania, the Istanbul based port operator, Ozuaydin Crane and Port Management Incorporation, is planning to invest about $ 25 million in the next three years with focus on cargo handling equipment at the Dar es Salaam port, crane supplying to port operators and heavy duty transportation equipment supplying.
The company has been in Tanzania since last year operating through its subsidiary called Aydin Tanz Crane Company Limited, and have since invested over $ 3 million in port logistics, construction and transportation of heavy loads, and it is also planning to invest in construction and energy sectors where 100 jobs will be created.
“We do not only want to make profits in Tanzania but also contribute to the country's growth by solving problems. With government guidance I believe we will be able to solve some of the problem that hinders the country’s strategies to attain the desired developments. Inadequate infrastructure and power problem are some of the problems that are still dogging the country,” said, Mehmet Aydi, the Chairman of the company.
He explained that: “the Company started in 1985 as a family business at a time when Turkey had more or less similar power supply and infrastructure challenges like what Tanzania have today, but we did not run away instead we took on the challenges and we have been able to prevail over the years till at this point in time.
Giving a hand in speeding up the cargo clearance in Dar es Salaam and Zanzibar ports, Mr. Aydi said that his company has already submitted proposals to port managements and to the governments as to what firm can offer to speed up port dealings.
“In fact we also have experienced at firsthand the inefficiency of cargo clearance in the country because it took a month to clear our goods from the port last year. Dar es Salaam and Zanzibar ports which are growing rapidly need to have mobile cranes to ensure efficiency in cargo clearance,” he explained.
In Tanzania, the company is currently in heavy duty equipment and transport logistics whereby it provides machines and trucks on hire to customers, heavy load transportation and warehouse management.
“Skilled manpower is also a big problem especially to operate our heavy duty machines which has forced us to bring some of them especially managers to come for training in Turkey but the challenges still remain. We will continue hiring and training these people because they are very important to our operations and business sustainability,” he said.
The Turkish government has set aside $ 500 billion of exports value between now and 2023. The company hopes that the fair amount of this money will come to Africa and particularly Tanzania.
Ozuaydin Crane and Port Management Incorporation is a medium size company with over $ 50 million of investment especially in port operations in Turkey where it manages cargo at eight ports.
The company also operates in Algeria, Cyprus, Macedonia and Turkmenistan. The company has some investments in the construction sector which is new and growing. In 2010 the firm handled over 4.3 million metric tons of cargo at eight Turkish ports and the figure has been steadily growing.
Liquefier Natural Gas terminal.
British gas firm and its partner are jointly studying suitable sites for a potential onshore Liquefier Natural Gas (LNG) terminal and anticipate providing proposed locations to the Tanzania government in the next few months. The company is working with its exploration partner Ophir and Statoil, the Norwegian company which has found gas in the waters near to BG's discoveries, on the $ 10 billion planned project.
BG's chief executive, Chris Finlayson indicated on Wednesday that the process to draw up plans for the LNG project were well underway and the company will present the Tanzanian government with proposed locations for a huge LNG terminal in the next few months, as the project moves ahead after another successful drilling test.
BG and Ophir also said on Wednesday that their latest drilling test on the Tanzanian gas field was successful, showing better than expected flow rates in a new part of the geology, which Ophir said would boost the field's estimated resources.
Gas finds off Tanzania and Mozambique have led to predictions that East Africa could become a big exporter of LNG, but first large facilities need to be built to enable the development of the gas.
The two will begin a new exploration programme in Tanzania later this year. Shares in Ophir climbed 2.6 percent, while BG was up 0.1 in early trading.
Following the resignation of Mr. Gabriel Kitua early this year, the Dar es Salaam Stock Exchange (DSE) governing board has appointed Moremi Marwa (37) to be the new Chief Executive officer of the Dar es Salaam Stock Exchange (DSE). According to the statement by DSE, Mr. Marwa will join the bourse mid this month.
Mr. Marwa has a significant corporate finance and investment advisory experience and has worked with a number of major clients both in the public and private sectors.
He is joining DSE from Tanzania Securities, a securities brokerage, investment advisory and investment management firm licensed by the Capital Market and Securities Authority and a member of the DSE.
He was a Senior Manager in Ernst & Young's Transaction Advisory Services and before that he worked with Deloitte in Corporate Finance as a Business Analyst.
“During his tenor at Ernst & Young and Deloitte & Touché, Mr. Moremi managed and led a variety of assignments that have included corporate finance structuring, capital raising, transactions support, syndicated loans structuring and reviews, valuations and financial modeling, investment advisory, feasibility studies and business plans,” read part of DSE statement.
Mr. Marwa worked in the banking sector for over three years with Barclays Bank and Bank of Africa before he joined Deloitte & Touché in Corporate Finance Services.
Mr. Diego Gutierrez, the General Manager of Tigo.
As part of its ongoing network expansion plan that has been deployed to enhance the quality and coverage of its service across the country, Tigo Tanzania has launched its new cell site in Kakola, Kahama. The expansion drive has already seen the deployment of new high tech network infrastructure in remote areas in Kigoma, and is set to continue in Mwanza, Tabora, Mara and Kagera.
“As mentioned during our launch in Kasulu-Kigoma, we plan on expanding across the country to solely improve the coverage and quality of our network in order to facilitate more innovation for all our customers and take the quality of the services and products we offer to a new level,” Tigo’s General Manager, Mr. Diego Gutierrez said.
He said that the company is dedicated to the completion of the expansion plan. “All these efforts are for the benefit of our dedicated customers, whose demands are our top priority,” he said.
With an already strong network presence in numerous regions in the Mainland and Zanzibar, this massive network expansion aims at covering more regions across the country. It will improve network quality within existing network coverage to ensure more stable connections and provide Internet browsing whilst at the same time taking network to new areas such as the outskirts of Tanzania, enabling new customers to connect with the rest of the world and be part of the larger cellular network community.
“We are honored and pleased to deliver as promised and feel privilege to being a preferred choice by many when it comes to innovative network operators in the country.” added Mr. Gutierrez.
Stanbic Bank Tanzania Managing Director, Bashir Awale speaking during an exclusive event held at the Hyatt Regency Dar Es Salaam to appreciate the customers’ trust over the bank.
BG Tanzania has announced that it had completed another successful drill stem test in Block 1 offshore Tanzania approximately 45km from the coast near Mtwara with initial results from the Mzia-2 well showing better than expected properties.
The test on the Mzia-2 well flowed at a maximum rate of 57 million standard cubic feet of natural gas per day, constrained by testing equipment. This is more gas than was expected to flow from this well, and therefore a positive development. A drill stem test is a standard procedure within gas exploration activities, and helps to determine the properties of the gas reservoir.
BG Group Chief Executive Chris Finlayson said: “The successful Mzia-2 drill stem test follows completion of a multi-well appraisal programme earlier this year on the nearby Jodari field. Results from the current campaign demonstrate the excellent quality of our interests offshore Tanzania, where our resources, and those of other participants in the region, are helping support plans for a multi-train LNG export project,” he said.
“While we continue exploration and appraisal offshore, BG Group and its partners are also jointly studying suitable sites for a potential onshore LNG terminal and anticipate providing proposed locations to the Government of Tanzania in the next few months,” Mr. Finlayson continued.
An LNG plant is required to commercialise the gas finds, so Tanzania can fully benefit from its natural gas wealth.
BG Group President and Asset General Manager - East Africa, Derek Hudson, said: “The successful drill stem test on Mzia-2 is another important milestone in developing Tanzania’s natural gas resources, coming less than 12 months after the original Mzia discovery. This swift progress reflects the commitment of all stakeholders, particularly the Government and the communities, in which we operate, to ensuring the full benefits of the country’s natural gas resources are realised.”
The BG Group will use data from the current exploration and appraisal campaign and a recently completed 3-D seismic survey to help identify new offshore targets for a third exploration programme beginning in late 2013. These ongoing activities represent significant investments by BG Group in Tanzania and are indicative of our positivity for the gas industry in the country.
Prior to Mzia-2, BG Tanzania has had seven consecutive natural gas discoveries, two successful appraisal wells, and a successful test on the Jodari field.
BG Group as operator has a 60% interest in Blocks 1, 3 and 4 offshore Tanzania, with Ophir Energy holding 40%.
The weekly market commentary by the Tanzania Securities Limited (TSL) show that the Dar es Salaam bourse’s indices continued with the recovery trend and rally with modest gains for both Dar es Salaam Stock Exchange All Share Index (DSEI) and the Tanzania Share Index (TSI ).
According to the report by the bourse, the DSEI closed at 0.06 percent higher at 1,533.88 points while the TSI ended the week at 1,634.49 points, 0.23 percent gain. While CRDB performance headed north, the NMB remained flat and maintained its last week price of Tshs 1,420 supported largely foreign investors. The counter moved a volume of 44,467 shares, which is 61 percent down compared to previous period of 112,790 shares.
The weekly turnover at DSE increased significantly to Tshs 2.98 billion, equivalent to 40.7 percent supported largely by CRDB that accounted for about 93 percent of total market earnings and 99 percent of the activity in the period under review.
Similarly, shares traded market rose significantly to 15,337,840, a 94.6 percent gain from 7,880,481 shares which changed hands in the last session.
CRDB moved a volume of 15,248,089 shares, significantly higher than 6,596,565 shares that changed hands in the counter last week.
In the meantime, TBL was the most active counter among the Industrial and allied segment moving 19,869 shares compared to 20,412 stocks transacted at Tshs 3,020, 0.67 percent higher than Tshs 3,000 transacted the previous week. Also a total of 12,972 shares of Simba changed hands while Twiga moved 1,174 shares. Swissport traded 10,111 shares during the week. There were very minimal activities on TCC, TTP and TOL counters.
According to the report, a relatively similar activity and performance is anticipated in the coming week due to the increased support on the banking counters particularly, the NMB and CRDB supported by good performances on these counters and availability of relatively free floats to trade and also on TBL.
Exim Bank Tanzania Chief Executive Officer, Dinesh Arora (right) shakes hands with Faraji Mussa (left) a third year Economics and Statistics student at the University of Dar es Salaam (UDSM) during the Career Fair held at the UDSM campus over the weekend, centre is the Exim Bank Assistant Human Resource Manager, Hetal Ramaiya.
Exim Bank Tanzania is set to offer more job opportunities to fresh graduates from higher learning institutions across the country in the bank’s efforts to nurture youths into various managerial positions.
“With the establishment of the Exim Academy, our bank is now turning focus to fresh graduates and experience will no longer be an issue as the graduates will be offered the necessary on-hands training when they join us,” Exim Bank Chief Executive Officer, Dinesh Arora said during the Career Day Fair held at the University of Dar es Salaam over the weekend.
He said that, higher learning institutions have a big potential to fill the human resource gaps in the banking and financial sector. “I have personally had interviews with some of the fresh graduates and I have seen a great potential. We will be able to select a number of them and bring them on board.”
Earlier, the Exim Bank Clock Tower Branch Senior Manager, Agnes Kaganda challenged the graduates to stay focused if they are to achieve their life time dreams.
“You should stay focused in life. Do not let anyone drive you from your dreams because with determination, some day your dreams will become true,” she said.
The Career Day Fair’s Organizing Committee Vice President, Wendo Lendo however said the Career Fair offered opportunities for the graduates to network with various corporate companies.
“The Career Day Fair has proved to be so beneficial because the education system in Tanzania does not categorically help in nurturing careers. Over 20 companies have taken part today and believe next year’s event will be bigger and better,” Lendo said.
Vodacom Tanzania Head of Brand Marketing and Communication, Kelvin Twissa (center) speaks to members of press after revealing the winner of Tsh 100 million in Dar es Salaam. On the left is Mrisho Mlau, an officer at Tanzania Gaming Board, while on the right is Benjamin Michael, Vodacom Tanzania Manager for Value Added Services.
Curtains for Vodacom Mahela promotion have finally come down, with Valerian Nicodemus (22), student at Kigoma Teachers' College, Kigoma Region, winning the grand prize of Tsh 100 million.
The draw was launched by Vodacom Tanzania in January this year, and has seen more than 300 Tanzanians winning Tsh 1 million and others winning Tsh 5 million on a daily and weekly basis respectively.
While revealing the grand prize winner in Dar es Salaam, Kelvin Twissa, Vodacom Tanzania Head of Brand Marketing and Communication, expressed satisfaction in the way customers participated in the promotion, and promised that more promotions are still on the way.
"It has been a great pleasure running this promotion. We are grateful to our customers who took their time to participate. We also congratulate those who won the various prizes throughout the entire period. Let me just assure everyone that more promotions are still to come and we shall continue to give our customers the best," said Twissa.
Speaking on phone from Kigoma Region, a joyous Valerian Nicodemus expressed his gratitude to Vodacom Tanzania, saying that his dreams of attaining a university degree have finally come true.
"This is indeed a great moment for me. I must admit that I learnt a lot from the just-concluded promotion. I am grateful to Vodacom Tanzania for this initiative and I promise to participate even more in other promotions," said Nicodemus.
If all goes well for Mkuju River uranium mine in southern Tanzania to start production, in a very near future, the East African country would overtake Canada as the world's second biggest uranium producer.
Few weeks ago the Tanzania government granted Mantra a provisional licence to construct and operate the Mkuju River uranium mine in southern Tanzania. The construction of the mining will take two years, and the site is said to contain at least 36,000 tonnes in known uranium deposits. Various reports suggest that the mine would extract 14,000 tonnes of the radioactive element annually.
Currently, Kazakhstan is the number one uranium producer in the world, having produced 19,451 tonnes in 2011 and commanding 36% of the world's total uranium production, according to the World Nuclear Association. Kazakhstan is followed by Canada, which produced 9,145 tonnes or 17% of the total production. "Tanzania is going to produce more than that," Mr. Peter Kafumu, the ministry's former commissioner for minerals has said.
According to Mr. Kafumu, the project will bring in Tshs 728 billion ($ 448 million) in foreign direct investments and create 1,600 jobs during the mine's construction. “The mine will eventually bring in Tshs 405 billion ($ 249 million) in annual revenue,” he said, adding that Tanzania would be limited to selling its uranium ore on the international market because it lacks the technology and funding to harness the element for domestic energy use.
The Ministry of Energy and Minerals issued a special licence to Mantra Tanzania Limited, which is owned by Mantra Resources, an Australian subsidiary of AtomRedMetZoloto (ARMZ), a Russian mining firm. ARMZ will build and operate the Mkuju River uranium mine in southern Tanzania through Uranium One, its Canadian arm. Mantra Tanzania Limited has been operating in Tanzania since 2010.
The deal already has caused controversy because of the mine's location on a small patch of the Selous Game Reserve, which the United Nations Educational, Scientific and Cultural Organisation has designated for protection as a World Heritage Site. Activists have aired concerns about how mining for uranium in the area could threaten the environment and public health.
According to Tanzanian Vice President Mohamed Gharib Bilal, who recently visited the site, the mining project has met all legal requirements.
From now on, Airtel's African customers need not pay roaming charges on incoming calls, access data and SMS while travelling in India, Bangladesh, Sri Lanka and 17 African countries. Thanks to Airtel’s move to launch flat roaming rates in Africa.
The decision to introduce the flat roaming rate in Africa is aimed at strengthening its 'One Airtel’ strategy.
"In addition to the currently available voice roaming, at a flat attractive rate whilst travelling within Africa and South Asia, the newly introduced service will further enhance communication for travellers from Africa by enabling them to access data and SMS," Airtel Africa Chief Marketing Officer, Andre Beyers said in a statement.
By introducing a flat and attractive roaming rate for data and SMS use, Airtel will help lower the communication cost for millions of frequent business and leisure travellers across the countries that we operate in.
"Airtel customers will also receive calls for free and have the opportunity to recharge their phone credit by using the host country's top up vouchers. There is a nominal mark up on the local rate to cover for exchange rate differences and currency fluctuations," Beyers added.
According to the company’s statement, Airtel customers will not need to register or buy new sim cards, as they are automatically enrolled in the 'One Airtel' service.
The country's first licensed Credit Bureau - Dun & Bradstreet Credit Bureaus Limited - has unveil its plans to support banks and financial institutions in Tanzania improve the assessment of credit, loan applicants with a view to ensuring that they make only the most informed business decisions.
Banks and financial institutions in Tanzania have been grappling with high ratios of non-performing loans on their books, leading to low operational profits. “The company, Dun and Bradstreet, envisage building the most comprehensive Credit Bureau capable of boosting the country's economy and financial soundness,” Chief Executive Officer of Dun & Bradstreet Credit Bureaus Limited, Mr. Miguel Lienas said.
This week, the company, is planning to meet with bank executives at a consultative workshop set to be held in Dar es Salaam. Among other things, the workshop which is a precursor to the official opening of Dun and Bradstreet Credit Bureau's offices in the country seeks to bring together the bureaus, banks and financial institutions, many of which have played a key role in ensuring Tanzania gets a globally respected credit bureau.
It's widely believed that, with the credit bureau on operation, lenders will have access to more information about borrowers, leading to reduction in loan default rates, interest rates and increased access to credit facilities.
Samsung which is second only to Apple in tablet sales, has unveiled a newest mini-tablet, Samsung Galaxy Tab 3.The newest Galaxy tablet is 7 inches and will be available for WiFi and 3G versions. The WiFi version will be released in the beginning of May, followed by the 3G version in June.
The Galaxy Tab 3 comes in white and is lighter than its immediate predecessor the Tab 2 7.0 but has more memory. It also has a thinner bezel than the Tab 2 and will include Android 4.1 Jelly Bean software.
The company has not released a price point for the self-described ‘sleek’ tablet. The price has not been released but expect it to cost somewhere between $ 159 for a Kindle, the cheapest small tablet on the market, and the iPad mini at $ 329. The Galaxy tablet 2 7.0 WiFi is currently selling for $ 199.00.
The news of the release of the new tablet comes after the Electronics Co. announced last week that its first quarter profit jumped to a record high $ 6.4 billion as smartphone sales remained strong despite the April launch of an updated version of its flagship Galaxy phone.
Samsung is second only to Apple in tablet sales. According to the IDC, Samsung had about 15% of tablet shipments, compared to 45% for Apple. But Samsung also tops all Android based tablets in sales.
Vodacom Tanzania in collaboration with Dare to Dream Foundation, and CRDB bank, will host the fifth Economic Women conference and Business Expo themed; ‘Building business beyond tomorrow,’ scheduled for May 11, 2013 at the Golden Jubilee tower in Dar es Salaam.
The conference targets all women particularly emerging female entrepreneurs. It is anticipated that about 250 women entrepreneurs are expected to take part on Vodacom-Dare to Dream Women Business Expo and Conference.
Managing Director of Dare to Dream Foundation, Emelda Mwamanga noted that Tanzanian women were determined to stay competitive despite the harsh economic environment under which they operate.
She decried lack of confidence and self motivation among some small-scale female entrepreneurs as the reason behind their failure in businesses, adding that the event will provide a lesson on how to be confident and self motivated. "The event will bring together successful women entrepreneurs and those who are starting their journey to success. The novice will learn from those who have excelled through lectures, mentoring and one to one encounter," she said.
The participants of the conference will listen to several renowned speakers, including author and motivational speaker from Uganda, Rehmah Kasule, founder and President of CEDA International Ambassador (rtd), Mwanaidi Sinare Maajar, Partner and Advocate of REX Attorneys, Joy Nyabongo, among others.
According to Vodacom Foundation Manager, Grace Lyon, the conference will feature industry leaders who will talk about global opportunities, business technology, marketing and financing.
Professor Benno Ndulu, the Governor of the Central Bank of Tanzania.
Bank of Tanzania (BoT) have revealed that during February this year, commercial banks were the largest holders of the Government domestic debt accounting for 45.6 percent of the domestic debt, followed by the Bank of Tanzania at 27.8 percent. The holding by the Bank of Tanzania was mainly in the form of long term bonds and stocks.
“During the month under review, the stock of domestic debt amounted to Tshs 5,255.9 billion compared with Tshs 5,152.3 billion recorded in January 2013. The increase was due to new issuance of Government securities that outweighed maturing obligations,” Professor Benno Ndulu, the Governor of the Central Bank of Tanzania said in a report.
According to Professor Ndulu, on annual basis, domestic debt stock increased by Tshs 1,160.0 billion from Tshs 4,095.9 billion recorded at the end of the corresponding period in 2012. The increase was mainly on account of issuance of Government securities that outweighed maturing obligations and securitization of an overhang of net domestic financing held at the Bank of Tanzania.
He said that, the profile of external debt by borrower category during February this year showed that, Central Government debt increased by $ 162.0 million from the amount recorded in January 2013. The share to total debt during the month under review was lower at 75.6 percent compared with 77.2 percent recorded in January.
“This was on account of relatively large increase in private and public corporations debt,” he said, adding that the increase in public corporation was largely due to the drawdown of $ 114.0 million by the Bank of Tanzania under the International Monetary Fund’s (IMF) Standby Credit Facility for balance of payments purposes.
As at the end of February 2013, external debt stock amounted to $ 11,161.0 million compared with $ 10,720.8 million recorded at the end of January 2013, and $ 9,829.8 million recorded at the end of February 2012.
“This outturn is a result of new disbursements and accumulation of interest arrears. Out of the total external debt stock, disbursed outstanding debt (DOD) accounted for 86.5 percent and the balance was interest arrears,” he said.
The profile of disbursed outstanding external debt by use of funds shows that large proportion of outstanding debt was utilized in social welfare and education, followed by transport and telecommunication, Balance of Payments (BOP) and budget support and agriculture. External debt disbursements received during the year ending February 2013 amounted to $ 1,125.0 million, out of which $ 921.5 million was received by the Government.
Disbursements received during February 2013 amounted to $ 127.3 million, out of which $ 6.2 million were received by the Government whereas public corporations and the private sector received $ 114.1 million and $ 7.0 million, respectively.
Meanwhile, external debt service, during the month, amounted to $ 5.2 million, out of which $ 3.2 million was principal repayments, $ 1.6 million interest payments and $ 0.4 million were management fee. Total external debt payments during the year ending February 2013 were $ 131.1 million.
Saad Abdul-Latif, CEO of PepsiCo's Asia, Middle East and Africa (AMEA).
The Chief Executive Officer (CEO) for PepsiCo Asia, Middle East and Africa, Mr. Saad Abdul Latif, visited Tanzania and had a dialogue with the Permanent Secretary for Ministry of industry, Trade and marketing, Ms. Joyce Mapunjo.
Speaking during his dialogue Mr. Latif said that, “It is a great pleasure to be in Tanzania. Be assured, PepsiCo is committed to ensuring that customers are able to enjoy international quality products at pocket friendly prices.”
Recently SBC started a new modern Pepsi manufacturing facility at Nairobi, and the response from the consumers is encouraging. SBC not only offers customers additional choice of carbonated soft drinks, but also offers additional value for money. The product in the 350 ml glass bottle is sold at the price of a regular 300ml soda.
During the tour, Mr. Latif was accompanied by the President of PepsiCo’s Middle East and Africa, Sanjeev Chadha.
On her part, Ms. Mapunjo thanked PepsiCo on its commitment on economic development as well as investments plans to improve manufacturing, marketing and distribution infrastructure.
“SBC Tanzania has generated and created employment opportunities in Tanzania,” said Ms. Mapunjo.
SBC Tanzania, the sole franchisee and bottler of the Pepsi range of products in Tanzania.
AAR Health Care Managing Director, Dr. Kandie Ng'ochoch handling mosquito nets to the Mwanananyamala Acting Chief Doctor Kariamel John Wandi.
AAR Tanzania Company Limited has provided 92 mosquito nets and 42 bed sheets worth Tshs 1.3 Million to Pediatric and Maternity block in Mwananyamala Hospital Dar-es-salaam as the way of commemorating the World Malaria Day.
“Malaria is one of the Major Challenges in the country. AAR, as one of the Major contributors in health services in Tanzania, it is our responsibility to show concern to infants and mothers who are mostly affected by the disease,” Ms. Tabia Massudi, the AAR Insurance Marketing Manager, said when the handling of the support to Mwananyamala Hospital.
She said that, the operations of the company, AAR, are guided by ethics and integrity. Being responsible to the community is one of the ethical activities that AAR Company would want to embrace. That is why AAR Insurance and Health Centers have come together to provide this kind of assistance at this particular day.”
The assistance went along with the AAR Team, visiting Pediatric and Maternity Block in Mwananyamala hospital.
“We real appreciate the concern that AAR Company has shown today. The support has come at the right time when we are still facing a lot of challenges, one of them being insufficient equipments , I would like to urge other companies, organizations and the government as well to offer their support to the hospital,” Acting Chief Doctor, Kariamel John Wandi said when receiving the support.
The Exim Bank Tanzania Managing Director, Anthony Grant (left) poses for a photo with Honorary Secretary, Marian Cummins of the Royal Society of St. George, Tanzania Chapter (center), and renowned English stand-up comedian Dave Thompson ( right) during St. George’s charity ball held in Dar es Salaam at the weekend. Proceeds from the event will support the Dogo Dogo orphanage centre in Dar es Salaam.
Managing Director of DHL Express Sub-Saharan Africa, Mr. Charles Brewer and Mr. Ashish Nagewadia – Commercial Manager DHL Tanzania during Press interview held at Double Tree in Dar es Salaam.
Mr. Charles Brewer – Managing Director of DHL Express Sub-Saharan Africa exchanging words with DHL staffs and customer.
Mr. Ashish Commercial Manager DHL Express Tanzania and DHL staffs.
Corporates and business people in East Africa now have something to smile about following the move by Ethiopian Airlines to sign a Memorandum of Understanding (MoU) with Djibouti International Airport for the provision of sea-air and air-sea cargo transport of goods in the region.
The cooperation framework between the two parties will enable Ethiopian Airlines to offer new menu of choice, sea-air multimodal transport services, to shippers, forwarders, and logistics providers in East Africa and to the African continent as a whole.
“As the largest air cargo service provider in Africa, we are a serious player in moving trade, commerce and investment, which are the engines of fast economic development in the continent,” said Tewolde, CEO of Ethiopian Airlines in a statement.
Ethiopian Airlines is the largest cargo operator in Africa flying to 25 destinations across the globe with six dedicated freighters of which two are Boeing 777-200 LR Freighters.
Mr. Enoch Osei–Safo, the Ecobank Tanzania Managing Director, explaining the importance of launching the China Desk in Tanzania at a dinner event held at the Great Wall restaurant in Masaki, Dar es Salaam. He explained also on the launched of direct trading of the Chinese currency (RMB), a solution, which targets Chinese and Tanzanian businesses that trade directly with China.
Virginia Cortavitare and Eric Tirabassi from Tanzania Investment together with Mr. Enoch Osei–Safo, the Ecobank Tanzania Managing Director and Public Relations Consultant of the bank during the evening dinner event held at the Great Wall Restaurant at Masaki.
The Chinese investors in Tanzania taking part in the evening dinner event held at the Great Wall Restaurant at Masaki where Ecobank officially launched the China Desk in Tanzania and the direct trading of the Chinese currency (RMB), a solution, which targets Chinese and Tanzanian businesses that trade directly with China.
Ecobank Tanzania Limited, an affiliate of the Ecobank Group, has officially launched its China Desk in Tanzania at a dinner event held at the Great Wall restaurant in Masaki, Dar es Salaam. The bank also formally launched direct trading of the Chinese currency (RMB), a solution, which targets Chinese and Tanzanian businesses that trade directly with China.
“The Ecobank Group’s strategic partnership with the Bank of China is aimed at supporting Sino-African trade and investment which is growing in leaps and bounds. With bilateral trade between Tanzania and China hitting $ 2.5 billion last year, it is little wonder that Tanzania was the first African country visited by the Chinese President, Xi Jinping, since he assumed presidency,” says Mr. Enoch Osei–Safo, the Ecobank Tanzania Managing Director.
Trade between China and Tanzania has grown 15% in the last year; “it is opportune for us to have a dedicated China desk in Tanzania, similar to what we have been doing in other African countries,” he commented.
With 25 years experience across 32 African countries, Ecobank Group has a successful record of accomplishment in banking Chinese businesses in Africa. Indeed, the Ecobank Group through a global account management structure based in China banks some Chinese businesses in multiple African countries.
In 2012, the Ecobank Group opened the Beijing representative office, which globally coordinates its relationship with Chinese businesses across Africa, as well as manages relationships with Chinese officialdom and the parent companies of Chinese businesses based in Africa. “Thanks to the Beijing platform and the Group’s unparalleled network across Africa, Ecobank affiliates have largely emerged as the important gateway to Africa for an increasing number of Chinese businesses,” said Mr. Osei–Safo.
Recently, Mr. Zhou Yi, the owner of Hengxu Group of Companies with headquarters in Sichual Province of China revealed plans to invest about $ 700 million in the building of luxurious accommodation facilities at Tanzania’s Serengeti National Park.
“For potential investors like Mr Yi, our value proposition is simple – we seamlessly provide a one-stop shop for market information, advisory services, financing options, remittances and now the proverbial icing on the cake – direct trading of the Chinese currency (RMB)”. Says Mr. Enoch Osei–Safo.
Chinese investment in Africa skyrocketed from $ 900 million in 2000 to $ 68 billion in 2010 aided by its ‘Chinafrique’ policy – trading with Africa without any conditional ties.
“There is no stopping Chinese foreign direct investment into Africa. Our Beijing representative office is constantly inundated with enquiries from potential and existing Chinese investors about business opportunities in Africa. With Tanzania ticking all the boxes, it is not surprising to see that it is on the radar for many Chinese investors. This is why we are working closely with our Tanzanian operation to help fulfill their ambition,” says Lu Xiaoning, the Ecobank Group’s Global Account Manager for Chinese Businesses.
Ecobank is one of Africa's leading banks, with a distribution of more countries in Africa than any other bank in the world. Ecobank is a one-stop service bank, providing a full range of products and services including investment banking, commercial trade, business and personal banking.
Leading international express and logistics company, DHL Express, has reaffirmed its expansion and investment strategy across Sub-Saharan Africa, and considers Tanzania as a key market within this strategy.
Charles Brewer, Managing Director of DHL Express Sub-Saharan Africa, is in Tanzania to meet with key stakeholders, customers, employees and the media towards reinforcing the company’s strategic commitment to the country and continent at large.
“Despite the current global economic uncertainty, DHL expects the African region to deliver. As we see the continent ‘surge’ as a result of sector investment, increased consumer spending and economic activity, the future is still bright for the continent. We are continuing to invest across Africa,” Brewer said.
He further said; “Tanzania is an attractive market for us and, with a population of over 48 million and a GDP growth rate of about 7% presents a major opportunity. The opportunity is for us to expand our footprint within the country and serve the semi-urban and rural areas so that anyone – from a student to a small business – can access our network, and the over 220 countries and destinations that we serve.
Mr. Brewer said that there are hundreds of SMEs in Tanzania and DHL need to provide easy access with a team of highly trained certified international specialists to lead them to the very obvious opportunities that trading with the world can present.
“DHL is committed to becoming their provider of choice and as part of that journey. We will provide even more access points across Tanzania,” he said.
In Tanzania alone DHL have expanded its retail footprint to 47 new outlets from 32 in one year.
Last year DHL provided free of charge transportation for three critically endangered black rhinos to be trans-located from the United Kingdom to the Kilimanjaro National Park in Tanzania.
More than expansion of its retail footprint to the rest of the country, Brewer’s other priority is around people development and employee engagement.
“I believe we have some of the best talents in our organisation and we have the opportunity to hone and develop these talents. I am very passionate about our investments in training, and in our various programmes that provide support for employees and their families,” he said.
“People are at the core of our business,” comments Ahmed Abdi, the recently appointed Country Manager for Tanzania. “It is through these motivated people that we will continue to add value to our customers and help create a sustainable and improving economy. As the first and largest express company in Africa, we are well-placed to service the growth of Tanzania, ensuring its viability and attractiveness on a global scale.”
One of the fast growing low cost airlines in the world, Fastjet, is poised to begin its first service outside Tanzania with Johannesburg to Cape Town, after raising funds through a share placing with an institutional investor. Flights planned to start from May 31. The airline said tickets could go on sale within a few weeks.
“There is a strategic gap in the South African market for a pan-continental, high quality, low-cost airline and we look forward to bridging that gap and bringing Fastjet to the South African public,” Fastjet chief executive Ed Winter said.
The company has agreed a deal with two South African businessmen to set up Fastjet Holdings as well as securing a ‘commercial arrangement’ with local airline Federal Air to use its existing licences to operate in the country.
The company has signed a memorandum of understanding (MoU) with Blockbuster, a South African investment company, to set up a joint venture (JV) to operate a service between Johannesburg and Cape Town. The JV will be 75% owned by Blockbuster, with the rest owned by fastjet.
“This marks an exciting chapter in Fastjet's history and an important step in its growth strategy,” said Mr.Winter.
Once the Johannesburg – Cape Town route is established, flights to other key destinations will be launched.
A commercial arrangement has been struck between Blockbuster and local operator Federal Airlines, a company with a 20-year history in South Africa, which will allow fastjet to leverage Federal Airline's existing licensing infrastructure and deliver its low-cost airline model to the South African public, a statement from fastjet said.
The new deal throws doubt on fastjet’s mooted takeover of South African carrier 1time. 1time’s creditors have shown little inclination to accept fastjet’s offer for the failed South African carrier and, what with South African being such an important market in Africa, fastjet has opted to invest in the Blockbuster/Federal Airlines venture.
That investment will be made following a successful placing of 160m new shares at 1.25p each, to raise £ 2 million.
“We believe that the operating agreements in place between Blockbuster and Federal Air represent a great opportunity for fastjet, our local investors, our partners at Federal Air and most importantly, the South African public," said Mr. Winter.
Fastjet had originally planned to expand from Tanzania into neighbouring Kenya but that plan has been slowed by a legal dispute with Fly 540 owner Don Smith over the sale of that business to Fastjet last year.
But this dispute may be nearing an end after Fastjet and Smith signed a memorandum of understanding with a view to resolving recent disputes and establishing a way by which the two parties can work together to maximize the value and business prospects of both Fly 540 and Fastjet.
As part of the deal, both parties have agreed to stop all legal action against each other. “The signing of this MOU provides a positive platform for Fastjet to strengthen its east African hub,” Mr. Winter said.
He further said that “Both Fastjet and Don Smith are pleased to be putting the unfortunate, highly-publicised events of the past few months behind us. Don Smith remains the CEO of the Kenyan business and we are pleased to have him as part of the Fastjet/Fly 540 team."
First National Bank (FNB) is now committed to help transform Tanzania’s economy through heavy investments in the local corporate sector.
“My bank is keen on generating economic growth by granting its customers facilities aimed at meeting their financial requirements. We specialise in providing customised transactional solutions to our clients through our group and are keen to provide them with both long and short term financing,” FNB Chief Executive, Dave Aitken said early this week at the breakfast meeting organised for various industry heads.
He said that the bank is well committed to provide specialised financial products to its customers that will meet their business needs and to support their organisations as they grow.
Mr. Aitken also challenged the industry heads to exploit their expertise and promised that they would reap double benefits from the bank.
Agriculture, which is Tanzania’s biggest sector, contributes about 25 percent to the country’s GDP, the oil and gas sectors, and manufacturing sector contribute 4.6 percent and 22.6 percent respectively.
In addition, Tanzania boasts of a broad based spectrum of investors from across the world, who have ventured into various sectors of the economy resulting in progressive economic growth according to a RMB Africa research report for 2013.
“Tanzania is one of the most attractive investment destinations in the world, with opportunities of investment in nearly all the sectors of the economy and greatly adorned with natural resources,” said RMB’s Africa research analyst, Nema Ramkhelawan-Bhana.
RMB is the investment arm of the FirstRand Group, which is also the parent company of FNB. They specialise in providing corporate finance solutions while First National Bank provides working capital and transactional finance solutions through the bank.
The bank recently arranged a syndicated loan worth $ 100 million for METL to facilitate the trade in commodities in East Africa.
The bank, which has operated in Tanzania for only 18 months, is reputed as being the market leader in providing competitive rates to customers. In addition, FNB has revolutionised the online and cell phone banking services by providing real-time, cutting edge technology to its customers.
The bank currently has three branches namely: Head Office Branch along Ohio Street, Pennisula Branch in Oysterbay and Industrial Branch along Pugu Road.
G4S Secure Solutions (T) Limited part of the G4S group, the world’s leading security solutions group and Bhubesi Pride a UK based charitable organization working in 10 African countries to support community development and rugby, has this year brought the Rugby in Africa Tour to local Tanzanian schools. A total of 500 Tanzanian school children have received rugby coaching from some of the best coaches in the world.
Bringing international rugby coaches such as Ryan Jones of the South African Springboks, Juan Pablo Andrade, Gullaume Boisseau, Ben Illingworth, Jonathan Markiwitz and Mike Googan, the Rugby in Africa Tour-2013 aims to promote Social change, Education and development through Rugby.
The tour has passed through Ethiopia, Kenya, Uganda, Rwanda and now Tanzania, where the team has conducted trainings over 3 weeks in Arusha, Moshi and Dar es Salaam and will continue to Malawi, Zambia, Botswana, Namibia and South Africa.
“You can’t change everyone in society but if we change one, two or 4,000 people only then, you can make a difference.” G4S Managing Director in Tanzania Jacqui Bothma said, adding that “Besides rugby coaching, we also conduct career counseling, Health and Safety tips as well as tips on protecting the environment. We have customized a local experience and made it practical so that the children can use this knowledge fully.”
The initiative has served the objectives to unite both boys and girls through sport, addressing health education and life skills, empowering local teaching staff by providing equipment, resources, training and knowledge as well as inspired sustainable development through the establishment and development of long-term international school links between Africa and Europe.
“I love coming to schools like Mapambano Shelikongo in Dar es Salaam as it is a perfect demonstration of how Bhubesi Pride working with key people like G4S on the ground can ensure meaningful community Rugby programs to be sustainable. G4S activating their staff from relevant departments to contribute to the school community through health and safety trainings and discussing career opportunities with the children goes hand in hand with the sport program in promoting healthy lifestyles.” said Bhubesi Pride’s founder Richard Bennett.
G4S Secure Solutions (T) Limited is a Tanzanian-registered Security Company specializing in the protection of assets in the financial, industrial, diplomatic and commercial sectors. G4S employs almost 2,000 people on a full time basis with an annual turnover in excess of Tzs 17 billion per year.
Despite having a low turnout of films from filmmakers in Tanzania, the 16th Festival of the Dhow Countries ZIFF festival has received 257 film entries for the 2013 Zanzibar International Film Festival (ZIFF) that is scheduled to take place at Ngome Kongwe, Stone Town Zanzibar from June 29th – 7th July 2013.
“We are very excited and greatly honoured by the response of filmmakers and producers from around the world to our call for films for the 2013 festival. This year we have countries participating for the first time such as Iraq, Slovenia, Cape Verde, Thailand, Serbia, Jordan among others”, said Prof. Martin Mhando, Director at ZIFF.
This year ZIFF received film entries from 19 African countries, 15 European Countries, 7 countries in the Americas continent,4 Asian countries, 3 Middle East Countries and Australia, a total of 48 participating countries.
The ZIFF Festival is a globally recognised film festival and the largest film festival in East and Central Africa. The festival whose theme this year is “A shared History” aims to support the shared stories and histories of Dhow countries around the world.
The festival platform provides unique opportunities for filmmakers, producers, directors to meet with other broadcasters and industry stakeholders to share their experiences as well as seek market for their films in local, regional and international markets.
“We are continually looking for good quality films and series for our Zuku Pay TV and are excited about the numerous films that have been entered from across the world. During this year’s festival we intend to engage filmmakers and content producers with an aim of providing Zuku Pay TV as a platform from which filmmakers can use to broadcast their films to the world. We believe that the producers in Africa and across the world have great stories to tell, and we will continue to strive to be the their broadcast platform of choice,” says Hennellie Bekker, Managing Director of Wananchi Programming.
The festival has this year received Tshs 160 million sponsorship by Zuku. The sponsorship is part of the Zuku 10 years agreement (2012 – 2022) to sponsor the annual event at a cost of $ 1 million.
The fast growing bank in Tanzania, Barclays Bank, has launched step ahead walk 2013 and is planning to raise more than Tshs 300 million ($ 180,478) that will go towards maternal and child health initiative in the country.
“Barclays Bank takes its Citizenship role seriously and recognizes it, as one of our key business deliverables. Taking on maternal and infant health as our flagship cause in Tanzania, springs from our need to play a role in addressing the march towards achieving the 2015 Millenium Development Goals (MDGs) on maternal and infant health. We are pleased that our partners CCBRT and AMREF have joined us once again in this initiative,” Mr. Kihara Maina, the Barclays Tanzania Managing Director said.
He said that this exciting event will be held on 8th June, 2013 at the Golden Tulip Hotel and will include a 5km walk in which all members of the public are invited to participate.
According to Mr. Maina, the funds to be raised will be used for capacity building for midwives, fistula treatment and reconstructive surgery for children born with correctible birth defects. “Step Ahead Walk 2013, welcomes the support of all partners and the community at large,” he said.
Every year, Barclays Bank Tanzania organizes a fund-raising walk christened ‘Step-Ahead’. The bank held its first Step-Ahead event in the year 2008 through which funds were raised and donated towards cancer treatment for children at the Ocean Road Cancer Institute (ORCI).
Introduced globally in 2004, Step-Ahead is a signature of Barclays initiative which aims at creating awareness and resources in support of community needs.
“The support that CCBRT receives from Barclays is invaluable as we work to achieve our vision of Tanzania where people have access to quality disability services as well as safe maternal and newborn healthcare. Erwin Telemans, CEO, Comprehensive Community Based Rehabilitation in Tanzania (CCBRT) said.
He said that in supporting the provision of safe maternal and newborn healthcare Barclays Step Ahead initiative will help to prevent disabilities such as cerebral palsy and obstetric fistula in Tanzania, as well as ensuring that those who do develop a disability during childbirth receive the treatment they desperately need.
“In partnering with local organisations such as CCBRT, Barclays is setting an excellent example to the corporate community, and we are extremely grateful for their support,” Mr. Telemans.
On his part, Dr. Festus Ilako, the Country Director of AMREF Tanzania said, “the support of Barclays to AMREF is timely. Together we can transform communities from within by improving the health of women and children, creating communities with the knowledge, skills and means to maintain their good health and break the cycle of poor health and poverty.”
The Barclays Step Ahead campaign will support the training of nurse midwives from Kilindi District in Tanga Region to ensure that pregnant women deliver in the hands of skilled personnel and therefore reduce unnecessary deaths and disabilities among women and children below five years.
“This partnership between AMREF Tanzania and Barclays is an innovation that will ensure communities have access to quality and affordable health services,” he said.
In 2011, Barclays Bank Tanzania and its supporters successfully raised Tshs 150 million through ticket sales and through other sponsorship. This year the aim is to double this amount, together with the valuable contribution of partners and members of the community. Tickets cost Tshs 5,000 each and will be available at any Barclays Bank branch and partner outlets from 29th April 2013.
Increased liquidity among banks in Tanzania has lead to a decline in the overall interbank cash market rate from 8.13 percent recorded in January 2013 to 4.76 percent recorded February this year. According to Bank of Tanzania, the rate was 4.15 percent, down from 7.85 percent recorded last year.
During February 2013, total transactions in the inter-bank cash market amounted to Tshs 565.4 billion compared with Tshs 615.8 billion recorded in January 2013. “Overnight transactions accounted for 70.6 percent of the total, compared with 75.9 percent recorded in January 2013,” BoT said in a statement.
During February 2013, the Bank conducted repos worth Tshs 95.0 billion compared with Tshs 25.0 billion conducted in January 2013. This outturn was a reflection of increased liquidity in the market, which was also mirrored in the repo rate.
The repo rate declined to 3.57 percent from 5.05 percent registered in the preceding month.
According to a statement from BoT, during February 2013, total volume of transactions in the Interbank Foreign Exchange Market (IFEM) amounted to $ 147.0 million compared with $ 100.0 million transacted in January 2013.
“The Bank participated in the market by selling $ 101.6 million or 69.1 percent of the total foreign exchange transactions in the market,” read part of the report.
The Tanzania shilling depreciated slightly against the US Dollar trading at Tshs 1,595.1 per USD from Tshs 1,584.5 per USD in January 2012 and Tshs 1,589.48 per USD traded in February 2012.
Tanzania government is planning to cut down its donor-budget dependence by bridging its fiscal deficits from around 35 percent at present to less than 5 percent in the near future, thanks to the ongoing, Public Finance Reform Programme (PFRP). The programme, among other things, aims to overhaul management and financial systems in all government ministries, departments and other public institutions.
“Revenue collection might be as high as Tshs 17 trillion in the next fiscal year, as a result of the ongoing Public Finance Reform Programme,” The Director of Planning in the Ministry of Finance and Economic Affairs, Ms. Fatima Kiongosya, said.
Collection of government revenue is expected to remain high in the 2013/2014 fiscal year and maintain an upward trend in the next two decades.
“The government through the Finance Ministry has been implementing the Public Finance Reform Programme in phases since 1998.The fourth phase is being executed by our ministry in collaboration with other ministries, institutions and developing partners,” said the deputy minister.
She further said that, “at the moment procedures and technologies are changing very fast and thus it is imperative that we adopt changes as far as government operations are concerned,” said, Ms. Kiongosya, during the official launching of special training sessions on ‘Change Management and Strategic Planning,’ for government executives.
Improved revenue management, effective auditing systems, increased transparency and accountability, proper budget control and responsible expenditure and flawless revenue collection are described to be among the achievements of the reform programmes.
The Minister for Finance and Economic Affairs, Dr. William Mgimwa, said that the government’s fiscal strategies were aimed at raising revenue collection from 16.9 percent the country’s gross domestic product (GDP) in 2011/2012 to 18 percent in 2012/2013.
As a result of a slight decline in the value of import of goods and services, Tanzania current account deficit narrowed by 21.4 percent to $ 3,563.2 million compared to a deficit of $ 4,534.5 million recorded during the year ending February 2012.
The value of import of goods and services decreased slightly by 0.2 percent to $ 12,658.3 million in February 2013, compared to the level recorded in the corresponding period a year earlier.
Meanwhile, the overall balance of payments recorded a surplus of $ 236.9 million, compared with a deficit of $ 266.7 million recorded in the year ending February 2012, partly attributed to a narrowing of the current account deficit.
“The net inflows in the form of capital grants, foreign direct investments and foreign borrowing also contributed to the improvement in the overall balance of payments position,” Professor Benno Ndulu, the governor of the Central Bank of Tanzania said.
Gross official reserves amounted to $ 3,836.9 million as at the end of February 2013, sufficient to cover 3.8 months of import of goods and services. During the same period, the gross foreign assets of banks stood at $ 718.1 million.
It has been revealed that more than 300 companies from within and outside the country have shown interests to invests in agriculture and have registered themselves with the Tanzania Investment Centre (TIC) and SAGCOT.
Tabling his 2013/14 budget in Parliament on Monday, the minister for Agriculture, food security and Cooperatives, Eng. Christopher Chiza, said that his ministry will continue to encourage and sensitize any company which wants to invest in the agriculture sector. “We ask companies which would like to join this initiative to come now,” he said.
The programme aims at increasing production of rice and sugar to satisfy local needs as well as those of the East African and SADC regions.
“The ministry encourages heavy investment in which big businesses will cooperate with their local counterparts as well as small holder farmers to improve production,” he said.
He noted that, in collaboration with the Ministry of Lands, Housing and Human Settlement Development, areas fit for investment have been identified. He named them as Kilombero, Rufuji, Malagarasi River and Lake Nyasa basins.
In the same vein, Engineer Chiza said, the TIB Development Bank has also indicated that it would support the Tandahimba Newala Cooperative Union (TANECU) in constructing a processing plant for cashew nuts.
He said the ministry has also assisted 20 groups with 631 members in Mtwara Region to purchase processing plants for cassava and sunflower for 11 groups with 360 farmers. It has also facilitated 14 schemes to get rice de-husking machines with a capacity of processing 5 to 30 tonnes of rice daily.
According to Engineer Chiza, the National Social Security Fund (NSSF) is supporting private firms intending to invest in the textile sector in its bid to support value addition to farm products. Under the programme, NSSF would be providing 60 per cent of the investment.
According to Central Bank of Tanzania (BoT), the profile of external debt by borrower category during February this year shows that Central Government debt increased by $ 162.0 million from the amount recorded in January 2013. The share to total debt during the month under review was lower at 75.6 percent compared with 77.2 percent recorded in January.
“This was on account of relatively large increase in private and public corporations debt,” the central bank said in a monthly economic review report.
The report stipulates that the increase in public corporation was largely due to the drawdown of $ 114.0 million by the Bank of Tanzania under the International Monetary Fund’s (IMF) Standby Credit Facility for balance of payments purposes.
As at the end of February 2013, external debt stock amounted to $ 11,161.0 million compared with $ 10,720.8 million recorded at the end of January 2013, and $ 9,829.8 million recorded at the end of February 2012.
“This outturn was as a result of new disbursements and accumulation of interest arrears. Out of the total external debt stock, disbursed outstanding debt (DOD) accounted for 86.5 percent and the balance was interest arrears,” read part of the report.
The profile of disbursed outstanding external debt by use of funds shows that large proportion of outstanding debt was utilized in social welfare and education, followed by transport and telecommunication, Balance of Payments (BOP) and budget support and agriculture.
Disbursements received during February 2013 amounted to $ 127.3 million, out of which $ 6.2 million were received by the Government whereas public corporations and the private sector received $ 114.1 million and $ 7.0 million, respectively.
External debt disbursements received during the year ending February 2013 amounted to $ 1,125.0 million, out of which $ 921.5 million was received by the Government.
Meanwhile, external debt service, during the month, amounted to $ 5.2 million, out of which $ 3.2 million was principal repayments, $ 1.6 million interest payments and $ 0.4 million were management fee.
Total external debt payments during the year ending February 2013 were $ 131.1 million.
During February 2013, the stock of domestic debt amounted to Tshs 5,255.9 billion compared with Tshs 5,152.3 billion recorded in January 2013. The increase was due to new issuance of Government securities that outweighed maturing obligations.
On annual basis, domestic debt stock increased by Tshs 1,160.0 billion from Tshs 4,095.9 billion recorded at the end of the corresponding period in 2012. The increase was mainly on account of issuance of Government securities that outweighed maturing obligations and securitization of an overhang of net domestic financing held at the Bank of Tanzania.
During the reviewed month, commercial banks were the largest holders of the Government domestic debt accounting for 45.6 percent of the domestic debt, followed by the Bank of Tanzania at 27.8 percent. The holding by the Bank of Tanzania was mainly in the form of long term bonds and stocks.
Nokia, one of the world’s tech giant, has unveiled a new mobile phone, Nokia Asha 210, designed to offer consumers more social experiences.
The company claims that it has a battery life of up to 46 days with Single-SIM and up to 24 days with Dual-SIM. According to Nokia it has a talk-time capacity of 12 hours on 2G.
The gadget which has a dedicated WhatsApp button will also support Facebook and Twitter and Gmail.
Nokia in its release said that the estimated retail price for Asha 210 is around $ 72. The company expects to start shipping the phone in the second quarter of 2013.
The phone which will be equipped with a QWERTY keyboard will come in both single-SIM and dual-SIM options. According to Nokia, Asha 210 comes with a 2 mega-pixel camera (resolution 600 x 1200 pixels) which has features like editing and sharing options.
The phone supports WiFi and Bluetooth 2.1 + EDR. It has a RAM of 32 MB and supports MicroSD expandable memory card of up to 32 GB. The phone boasts of a screen size of 6.1 cm and weighs 99.5 grams.
Nokia Asha 210 will be available in five colour options: yellow, cyan, black, magenta, and white.
Minister of State in the Prime Minister's Office for Investment and Empowerment,Dr. Mary Nagu, said this week that Tanzania Investment Centre (TIC) registered 7,012 investment projects with a total value of Tshs 60 billion ($ 37 million) between 2000 and 2012.
“There are varieties of projects which created more than 1 million jobs whereby out of the registered projects, the industrial sector alone listed 2,095 projects valued at a total of Tshs 15.9 billion ($ 10 million) and facilitating almost 230,000 job opportunities,” said Dr. Nagu.
She said that the government of Tanzania has prepared conducive environment for local and foreign investors. “We encourage them to increase their capital and create more job opportunities for Tanzania and increase market opportunities.”
Capital from foreign investments increased from Tshs 846 billion ($ 521 million) in 2005 to Tshs 1.8 trillion ($ 1.1 billion) in 2011.
In their newest bid to protect users against unlawful use of mobile phones, Vodacom Tanzania has made a plea to subscribers to fast track registration of their SIM Cards.
Speaking to journalists recently the Managing Director for Vodacom Tanzania, Rene Meza, urged those with unregistered Vodacom Sim Cards to register their phone numbers as the law stipulates since failing to comply with the registration process would lead to their SIM Cards being locked among other things.
“The law stipulates that unregistered SIM Card holders can be penalized by paying a fine of up to Tsh 3 million or serve in jail for two months or serve both. As an industry leader, Vodacom is fully committed to this registration. Therefore, we oblige all our agents, retailers and customers to lead the way by obeying the law,” Meza stated.
SIM Card registration is important since, it protects consumers from misuse of communication services and enables users to be identified as they use value-added services such as mobile banking, mobile money transfer and electronic payments for services such as water, electricity and pay-TV.
Registration of SIM Card will also see a reduction of crime especially in paying bills, and M-Pesa services as well as contribute to National Security among other things.
According to Mr. Meza, about 95 of Vodacom’s mobile subscribers have already registered their SIM Cards.
He however said that his firm faces a number of challenges for mobile subscribers to register their SIM Cards in rural areas. These include lack of electricity which makes it hard to operate machines such as photocopiers, scanners, just to mention few that enable smooth flow in registration. “Despite these challenges, Vodacom will put all the efforts needed to make the exercise successful,” he explained.
Tanzania has slightly more than 30 million SIM card subscriptions, out of which about 27 million had already been registered by the official deadline. This is according to Tanzania Revenue Authority (TCRA) Director General, Professor John Nkoma.
The number of unregistered customers is but a minority. However, we urge mobile phone subscriber to register their SIM Cards. He further said that “moving forward all SIM Cards will be blocked upon purchase and will only be unblocked upon registration” stated Prof. Nkoma.
Prof. Nkoma said the Authority had visited all mobile network service providers (phone companies) to ensure that the exercise continues and that all unregistered SIM cards are registered.
Failure to register one’s number – and, allowing a SIM card owner to use an unregistered number – is contrary to the Telecommunications Act.
Fastjet has announced that has entered into a Memorandum of Understanding (MoU) with Don Smith, CEO of Five Forty Aviation Limited which trades in Kenya as Fly 540, with a view to resolving recent disputes and establishing a way by which the two parties can work together to maximize the value and business prospects of both Fly 540 and fastjet.
The MoU includes, among other provisions, an agreement by both parties to stop legal proceedings in order that mutually beneficial and constructive resolutions are discussed and implemented.
“The signing of this MoU provides a positive platform for fastjet to strengthen its East African hub. Both fastjet and Don Smith are pleased to be putting the unfortunate, highly publicised events of the past few months behind us. Don Smith remains the CEO of the Kenyan business and we are pleased to have him as part of the fastjet/Fly540 team,” fastjet CEO, Ed Winter commented.
Fastjet plc is the holding company for African airline Fly540, which operates in Tanzania, Kenya, Ghana and Angola. Flights under the fastjet brand, commenced business in Tanzania in November 2012.
The airline has introduced Airbus A319s into its fleet and by adhering to international standards of safety, quality, security and reliability. Fastjet has brought a new flying experience to the African market at unprecedented low prices. Fastjet is implementing the low-cost model across Africa and its long-term strategy is to become the continent’s first low-cost, pan-African airline.
Until March 2013, fastjet and its subsidiaries carried almost 800,000 passengers, 50% more than a year previously and 99.2% of its flights left on time with no cancellations. The results of a recent customer satisfaction survey showed that 100% of customers were likely to recommend fastjet to a friend.
In developing its strong brand and identity, fastjet has won and been nominated for a number of awards, including winning three Transform awards for the rebrand and launch of fastjet and a nomination for the prestigious Drum “New Product or Service launch” award.
Huawei’s Technologies Tanzania Product Manager, Zeng Tao (left), briefing the Ministry of Communication Science and Technology, Assistant Director, Manyiri Isack (right), on one of Huawei’s new products during the road show event held at Kilimanjaro Hotel in Dar es Salaam yesterday.
Huawei, a leading global information and communications technology solution provider has developed value growth solutions that will see local telecommunications operators in Tanzania, benefit significantly from Mobile Broadband (MBB) and its offerings.
“We have seen companies in the telecom industry striving to bridge the digital divide - so everyone can afford to enjoy the benefits of communications. Some have moved further to shift their focus from ‘a phone for everyone’ to ‘broadband for everyone’, to enable users to tap the infinite possibilities that a connected world presents. We are committed in supporting growth of Tanzania’s ICT sector,” Huawei’s Technologies Tanzania Channel Director, Mr. Moses Hella said.
He said that his company will give a hand on supporting growth of Tanzania’s ICT sector, urging that ICT is an enabler of technology innovation, driving social and economic development, and creating value for individuals and society as a whole.
Yesterday Huawei held a one day road show in Dar es Salaam geared towards showcasing the company’s various products. Road shows will also be conducted at the Airtel Tanzania, Tigo and Vodacom offices.
The company during the event exhibited its unique omnipresent connectivity technology, including Smart Fixed-Mobile Convergence (FMC) bearer network and the SingleFAN solutions, eSpace IVS (intelligent video surveillance ) and Video conference Solution, Huawei Storage and Server Portfolio, Huawei Distribute Cloud Data Center Solution, Huawei Container and Modular Data Center(IDS) Solution and Huawei Virtual Desktop Infrastructure(VDI) Solution among others.
“Rapid development of mobile technologies has accelerated mobile broadband from megabit to gigabit levels via the generation of various service applications. Mobile broadband has redefined the way we communicate and live. With new and innovative business models emerging, mobile broadband presents the telecom industry with significant challenges and opportunities,” he said.
On his part, the Assistant Director from the Ministry of Communication, Science and Technology, Mr. Manyiri Isack, said, the development of ICT sector in the country will enable easy and effective communication among people.
“We thank Huawei for supporting our government, especially in the ICT sector, in making sure our people have better and effective ways of communication. We believe that the introduction of these new technologies will help people have easy access to information and have more open communication,” said Isack.
It has been revealed that Bharti Airtel might use between $ 85 and 100 million to buy out Abu Dhabi-based Warid Group’s telecom business in Uganda. The agreement is subject to regulatory and statutory approvals.
“This happens to be the first in-market acquisition in Bharti Airtel’s history. We believe this market consolidation offers great synergies by bringing together the best of Airtel and Warid to better serve customers in Uganda,” Manoj Kohli, MD and CEO (International), Bharti Airtel said.
If all goes well, Airtel will become the second largest mobile operator in Uganda, after MTN, with a combined customer base of over 7.4 million and a market share of over 39 percent.
South Africa’s MTN is the largest operator in that country, with 50 percent market share. Airtel currently has 4.6 million customers in Uganda and Warid has 2.8 million. Telecom companies in Uganda are also facing regulatory hurdles.
The country's Parliament passed rules which include provisions to regulate phone-call tariffs and double the levy that telecom companies need to pay the government for setting up networks in rural areas.
Bharti and other companies in Uganda are negotiating with the government to overturn some of these rules, the Indian company had said earlier this year.
Globally, Airtel is ranked the fourth largest mobile services provider in terms of customer base. The company has a presence across 17 African countries with over 62 million customers by the year ended December 31, 2012.
The latest deal comes at a time Bharti is facing regulatory and legal hurdles in its home market and as it tries to turn around its loss-making African operations.
Bharti, about 32%-owned by Singapore Telecommunication Ltd. the company entered Africa in June 2010 by buying the African telecom operations of Mobile Telecommunications Co.
Mid June this year Eastern Africa countries will meet in Kenya to discuss the exploration potential, future opportunities and growth in countries like Kenya, Somalia, Ethiopia, DRC, the Seychelles, Tanzania, Madagascar, Burundi, Rwanda, and regional oil giant Uganda.
“The new discoveries will add substantial net wealth to the Eastern Africa’s littoral states where they are located, and induce higher economic growth rates and regional development,” Dr. Duncan Clarke, Chairman of Global Pacific & Partners says during the press briefing about the coming 4th Eastern Africa Oil, Gas & Energy Conference 2013 to be held in Nairobi on the 18th - 20th June this year.
Eastern Africa has been transformed into a fast-emerging oil and gas frontier region. The on- and offshore potential includes exclusive economic zones, deepwater opportunities and ultra-deep plays.
The 15 nation states in the region are diverse in scale, resource potential, contract terms, and venture-types and in regard to exploration cycles and hydrocarbon discoveries.
Increasing numbers of companies have entered open acreage and bid rounds, and more blocks have been leased than ever before, with more drilling commitments concluded.
Recent large and world-class gas discoveries in Mozambique and Tanzania, with potential for more to come, and commercial oil flows in Kenya, show the potential of the enormous exploration frontiers of Eastern Africa, both onshore and offshore. The impact of this resurgence is rebalancing the Africa oil-gas industry landscape into a wider continental oil and gas/LNG game, with potentially global consequences.
4th Eastern Africa Oil, Gas & Energy Conference 2013 gives new insight in the opportunities, acreage, key players and corporate and government strategies in this region. The Conference is hosted annually by Global Pacific & Partners and will be held from June 18th to 20th in the InterContinental Hotel in Nairobi, Kenya.
Ms. Juliet Rugeiyamu Kairuki has been appointed by President Jakaya Kikwete to be the fourth Tanzania Investment Centre’s executive director since the establishment of the institution in 1997.
According to the statement by Chief Secretary, Omben Sefue, between 2002 and 2008, Ms. Kairuki served as a project manager of the public-partnership capacity building in the Southern African Development Community.
From 2008 up to her appointment, she was the general manager of the banking department and finance services at the Banking Association in South Africa. Ms. Kairuki holds an LLB and LLM. She is an expert in public-private partnerships.
She has become the fourth TIC executive director after Mr. George Kahama, Mr. Samuel Sitta and Mr. Emmanuel Ole Naiko.
TIC is a government agency for coordinating, promoting and facilitating investment. The centre deals with enterprises whose minimum capital investment is not less than $ 300,000 if foreign owned or $ 100,000 if locally owned, at the ame time advises the government on investment-related matters.
Mr. Pratap Ghose speaking to reporters.
Zantel Tanzania, has announced the appointment of Pratap Ghose as their new Chief Executive Officer (CEO), replacing Ali Bin Jarsh, who successfully led the operations at Zantel Tanzania for the past couple of years.
Prior to this appointment Pratap, who has 18 years experience in various sectors including telecommunication was the Group Vice president for Etisalat Group, Finance and Business Optimization for the Africa Region.
He has also held various executive positions in the Etisalat Group such as Chief Financial Officer for Etisalat’s Indian operations and Member of Board of Directors for Atlantique Telecom S.A, Ivory Coast.
Mr. Ghose has an understanding of Tanzanian market as he had served as an Advisor for Zantel Tanzania and was the Chief Financial Officer for Millicom's International (Tigo) operations in Tanzania. He is therefore conversant with the lay of the land and people of Tanzania.
"We're very excited to have Pratap joining the team as he brings a wide range of experience from emerging markets as diverse as India, Nigeria and Middle East,’’ Zantel Tanzania said in a statement.
Pratap holds an MBA from Melbourne Business School, Australia and is also a qualified Chartered Accountant. In Zantel he would be responsible for enhancing market share and margins along with growth of alternate revenue streams including 3G, Data, Ezypesa and value added services, taking Zantel to the next phase.
Zantel is the official brand name for Zanzibar Telecom Limited, the fourth mobile service provider in Tanzania. By providing value, high quality and smooth services, Zantel seeks to present customers with service, they can rely on whether to conduct business efficiently or simply stay in touch with friends and family.
Managing Director of Exim Bank Tanzania, Mr. Anthony Grant (right) shares a light moment with Laila Adam (left) a student of Jangwani Secondary School in Dar es Salaam during a Malaria Sensitization Seminar for Children with Disabilities held in Dar es Salaam at the weekend.
Exim Bank Tanzania has pledged its commitment to supporting various initiatives geared towards eradicating malaria in Tanzania.
Speaking during a Malaria Sensitization Seminar for Children with Disabilities held in Dar es Salaam and sponsored by the bank at the weekend, the Exim Bank Tanzania Managing Director, Anthony Grant said, over the last decade, the world has made major progress in the fight against malaria but the disease still claims an estimated 660,000 lives annually worldwide.
The Seminar was in commemoration of this year’s World Malaria Day that will be commemorated on Thursday April 25th, 2013 under the theme ‘Invest in the future, Defeat malaria’.
Grant stressed the need for Tanzanians to practice personal hygiene to reduce the breeding of mosquitoes, the causative agent of malaria.
“Malaria still kills an estimated 660,000 people worldwide, mainly children under five years of age in sub-Saharan Africa, hence there is a need for concerted efforts to fight the disease.
“Since 2000, malaria mortality rates have fallen by more than 25% and 50 of the 99 countries with ongoing transmission are now on track to meet the 2015 World Health Assembly target of reducing incidence rates by more than 75%,” Grant said.
Grant pledged the bank’s commitment to continuous education and campaign against malaria, and appealed to other corporate institutions to join in the fight against the disease.
He urged that if the world is to maintain and accelerate progress against malaria, in line with Millennium Development Goal (MDG) 6, and to ensure attainment of MDGs 4 and 5, more funds are urgently required.
In a speech read by Laila Adams on behalf of children with disabilities from Dar es Salaam region, the group said: “Construction policies in Tanzania do not favor people with disabilities. We for instance face a lot of difficulties in accessing toilet facilities at schools which puts us at a risk of contracting diseases.”
Laila noted that Government needs to institute early intervention and assessment programs for children born with disabilities across the country that will help in minimizing care costs for people with disabilities.
Corporates and business communities in Tanzania now have something to smile about, following the move by Turkish Airline, one of the fast growing airline in the world, to introduce daily flights from Julius Nyerere International Airport to Turkish commercial capital, Istanbul's Atuturk International Airport, effectively from June this year.
Currently, Turkish Airline flies five days a week from Dar es Salaam to Istanbul and also from Kilimanjaro to Istanbul via Mombasa.
According to Turkish Airlines, the decision to increase frequency is a result of increase of number of passengers since its launch of direct flights between the two commercial capitals over three years ago.
"Our passenger volume from Dar es Salaam has kept on increasing year after year and the route is one of our fast growing in East Africa," Vice-President responsible for Marketing and Sales for Africa, Mevlut Kayar said.
Mr. Kayar paid tribute to Tanzanian government for the cooperation accorded to Europe's third largest airline in terms of volumes of passengers handled per annum, which has enabled easy operation of the carrier. According to him, the bilateral trade between Dar es Salaam and Istanbul have increased by 20 percent annually since the introduction of the airline's services in the country.
"In Tanzania we have received the most support, doors have been opened for us and we thank the government and the people for that," he said.
Turkish Airlines is second only to German carrier, Lufthansa and Air France in Europe while ranks among the top ten in the world. The airline has just placed an order for a record 117 Airbus planes. With over 200 aircraft split between giant plane manufacturers, Boeing Inc of the United States and European Airbus.
"We are very proud of our customers from Tanzania and promise them the best of our services as we introduce daily flights from June 1, this year," said Dar es Salaam based Country Director, Alper Kucuk.
Turkish Airlines would like to see volumes of passengers from Tanzania increase by more than 100 percent over the next five years, as Turkey provides affordable but quality medical services, trading opportunities and holiday destinations.
Global ground service providers, Worldwide Flight Services (WFS), has entered into a long-term partnership with local firm in Tanzania, Wings Flight Services, to operate a new $ 6 million cargo terminal at Julius Nyerere International Airport in Dar es Salaam with effect from 1st September 2013.
The new partnership will also engage in a tender for the second passenger and ground handling licence at the airport.
Experts say, as Tanzania’s aviation industry grows, due to the ongoing investments in oil and gas and other factors at hand, there is a need for the industry to open arms and welcome more players in business for sustainable growth. “The comming of the joint venture on board will add value on doing business in Tanzania.
The new development comes after a strong 2012 in which cargo throughput at JNIA was nearly 45,000 tonnes with 3.5 million passengers aboard 192,000 flights handled.
“We are delighted to have been given this opportunity to work with our new partners to establish the WFS brand in Tanzania. We look forward to offering our recognised service excellence to our airline customers and a much needed, high quality air cargo - and hopefully passenger and ramp - handling product at this important airport gateway in Africa,” Barry Nassberg, Group Operating Officer Worldwide Flight said.
Since the company's founding in 1983, WFS has established itself as a leader throughout the aviation community by providing a broad array of quality and reliable Ground Services. WFS has flourished in scope and presence and now services over 120 of the world's major airports.
“Working in partnership with WFS gives us access to the company’s proven handling expertise, gained from its operations at over 120 airports across the globe. We will bring to Tanzania a world class cargo handling service. We are also exploring opportunities to work with WFS in extending the reach of our partnership the WFS brand into other countries in this region,” Mohamed A. Nur, Managing Director of Wings Flight Services Ltd, added.
He said that mission of the joint venture is to procure quality, high value services on a wide scale which can be integrated into a single service and become the primary business partner of airlines and forwarding agents in the provision of cargo handling in Tanzania and to the world at large.
The International Air Transport Association (IATA) has improved its global outlook - African carriers included - for the 2013 financial performance of the global airline industry primarily based on stronger revenues from increased passenger demand and growing cargo markets. Overall, IATA now expects airlines to produce a combined net post-tax profit margin of 1.6% (up from the previously forecast 1.3%) with a net post-tax profit of $ 10.6 billion (up from the previously projected $ 8.4 billion).
On the Africa front, IATA changed the outlook of African carrier's from stagnant to positive saying they are now expected to post a $ 100 million profit in 2013. That is ahead of the break even performance previously projected and the $ 100 million loss of 2012.
African carriers are expected to see a 6.5 percent increase in demand during 2013 which they will meet with a 6.4 percent expansion in capacity. The continent continues to be a focal point for growth by those carriers located in the region and those providing services into the region.
Going along with the purse, Tanzanian Civil Aviation Authority (TCAA) has reviewed and adjusted 2009 legislation governing the liberalization of ground handling services, including aviation fuelling. The changes affect airports in Dar es Salaam, Kilimanjaro, Zanzibar and Arusha.
According to the review, Dar es Salaam's Julius Nyerere International Airport will have provision for five (5) Aviation fuel service providers.
"However, the Board noted that although two (2) third party ground handling companies were authorised in 2009 at Julius Nyerere International Airport (JNIA), the second third party ground handling company has not yet been concessional. It is therefore the expectation of the Board that the second independent ground handler will come on board before the end of 2013," read part of the review.
Mr. Raymond Mbilinyi has been appointed as a new Executive Secretary of (TNBC) by President Jakaya Kikwete, to take over from Mr. Dan Mrutu. The appointment is effective from March 4 this year.
Roles of TNBC are to provide a forum for public/private sector dialogue with a view to reaching consensus and mutual understanding on strategic issues related to the efficient management of development resources.
TNBC promotes the goals of economic growth with social equity and even development.
Before the appointment, Mr. Mbilinyi was Deputy Executive Director of Tanzania Investment Centre (TIC). Mr. Mbilinyi has been at the helm of TIC since the former Executive Director, Mr. Emmanuel Ole Naiko, retired in 2011.
Tanzania government is looking for eligible independent firms to conduct a study of casinos in the country seeking to streamline the sector and increase revenue. The parameters for the review will include developing new ground rules that could determine the number and size of casinos. The study, expected to start next month, will run for three months.
“The study will also establish the incidence of gaming abuse and come up with ways of pushing for responsible gaming,” Tarimba Abbas, director general of the Gaming Board of Tanzania, said, adding that there will be a delay in processing new casino licences in the country until the study is completed.
The gaming board said that it is important to harmonise standards and practices in the gambling sector in the country.
The study will be the country’s largest and most comprehensive analysis of the commercial gambling industry in nearly 15 years.
According to the Finance Minister, William Mgimwa, gaming sector made over Tsh 1.2 trillion ($ 738 billion) during the 2011/2012 financial year, earning the government Tsh 528 billion ($ 325 million) in dividends from the gaming board. The government is targeting to earn at least Tsh 1 billion ($ 615 million) annually by 2017.
Data market has been in the rise in East Africa hence offer a platform for corporate businesses and SMEs to grow.
One among the fast growing information technology firms in the world, One Solution, is targeting corporate firms and small and medium enterprises in East Africa as it plans to use Kampala as its hub.
“Our services in Kampala will help Tanzania, Rwanda, Burundi, Kenya, South Sudan and Ethiopia companies to increase efficiency, cut operational costs and ultimately promote economic growth of the East African Region,” Claude Vendette, CEO of One Solution Uganda, said.
Cloud computing allows one to use files and applications over the Internet via a data centre. “Imagine your company with several sites in East Africa, being able to call between offices at no user cost and conduct video-conferencing instead of travelling to share documents,” said Mr. Vendette.
One Solution Uganda will offer its services at costs ranging between $ 125 and $ 225 per user per month.
Expert says, competition for East Africa’s cloud computing market is set to intensify with the entry of One Solution Uganda into the arena.
Less than two months Zimbabwe software company Twenty Third Century Systems (TTCS) began operating in Uganda, pitching its Cumulus cloud computing service to SMEs in the country and in Rwanda. TTCS charges its services at the cost ranging from $ 75 to $ 125 per month.
Equally, MTN Group, which has been piloting the cloud computing service with an eye on SMEs in six of its main markets — Uganda, Cameroon, Cote d’Ivoire, Ghana, Nigeria and South Africa — plans to roll out full operations starting this month. Already, the company has unveiled the service in Ghana and Nigeria.
In Kenya, a Swiss software firm Sofgen unveiled its cloud computing service in the country in 2012, eyeing the financial sector.
The product, Temenos T24, a cloud platform developed by US firm Microsoft Corporation, targets banks, microfinance institutions, deposit taking microfinance institutions and savings and credit co-operative societies.
In a bid to promote maritime development in the country, Tanzania Port Authority is inviting interested investors to venture in Mtwara oil and gas free port zone.
TPA has embarked on a project designed to establish part of the Mtwara Port as a free zone on an area of 110 hectares.
According to TPA statement the first phase of the project will be developed and managed by TPA on an area of 10 Ha, and will operate as an oil and gas supply base.
“The Zone will be providing service plots ranging between 6200 m2 and 15,900 m2 for sublease to qualify oil and gas suppliers and service provider and will be equipped with the entire necessary infrastructure including onsite roads, power and water supply system, water reserve tank and support building for customs and administrative offices,” the statement says.
FastJet is temporarily suspending two of its routes between Kilimanjaro and Mwanza, and between Kilimanjaro and Zanzibar, as of 18 April 2013, due to low demand during the rainy season. The Company will continue to serve the route between Dar es Salaam and Kilimanjaro, and between Dar es Salaam and Mwanza, while the other two routes will resume from July 2013. Tickets are already on sale for flights commencing 1 July.
“All passengers who had booked fastjet tickets to fly these routes will be fully refunded,” fastjet’s Chief Commercial Officer, Richard Bodin said in a statement.
He said that, fastjet remains fully committed to Tanzania and to the tens of thousands of Tanzanians who have, and continue to support the company and fly with fastjet.
Since the Company’s first flight in November 2012, we have flown over 100,000 passengers, 30% of whom have paid our lowest one-way fares of Tshs 32,000 before taxes. We continue to deliver the highest standards of safety and performance, with an on-time departure rate of over 99%,”Mr. Bodin said.
Fastjet recently conducted a customer satisfaction survey, which was completed by over 1,000 fastjet passengers, to gain a stronger insight into customers’ needs and preferences. The survey yielded overwhelmingly positive responses across the board, with results demonstrating fastjet’s success not only in providing affordable airfares to its customers, but also maintaining international standards of quality, security and reliability.
Nine out of ten passengers surveyed considered fastjet flights to be of a good value and stated that they would fly with fastjet again. 100% of participants were satisfied with their flights and said they would recommend fastjet to friends. The on-board service was rated excellent by over half of respondents.
Strikingly, 38% of those surveyed had never flown before fastjet’s entry to Tanzania, many commented that prior to this, air travel would simply not have been possible for them. Of these new flyers, 98% said that would fly with fastjet again.
“We would like to thank our customers for their encouraging feedback and overwhelming support. Fastjet’s passengers remain our top priority and we fully intend to keep on delivering the high standard of service that has come to be expected of us,” Mr. Bodin said.
Tanzania is set to use about $ 196.5 million loan from the World Bank to strengthen its energy sector.
According to the country's finance ministry, about $ 100 million loan from the bank, will be used to strengthen policy and institutional framework for management of the country's natural gas resources and to improve power supply, while about $ 21.5 million loan would be used to develop the government's capacity to expand its natural gas sector and boost public-private partnerships for the power generation sector. The remaining balance of $ 75 million from the bank will be used to support its national poverty reduction strategy.
"Successful implementation of each of these components will enhance government capacity to better manage developments in the energy sector," Tanzania's finance minister, William Mgimwa, said in a statement.
The East Africa's second-largest economy is fast becoming a regional energy hub following recent major discoveries of natural gas in its offshore. Tanzania has confirmed 40.8 trillion cubic feet of natural gas reserves so far, some of it discovered by Statoil ASA and partner Exxon Mobil Corp, and BG Group Plc, which is working with Ophir Energy Plc.
The government is in final stages to establish the national oil and gas policy that is to govern the entire sector that is still new in the country. Energy and Minerals Deputy Minister, George Simbachawene, made the revelation in the National Assembly last week. “We are planning to put in place a new natural gas policy, legislation and master plan in the 2013/14 fiscal year,” he said.
Simbachawene said the current discoveries, indicates that Tanzania’s natural-gas reserves have increased to 40.8tcf from the 35tcf formally discovered.
According to the minister, the government has completed all necessary processes in the establishment of the policy expected to open doors for investors to acquire license for undergoing gas and oil exploration and exploitation.
He said the policy is being reviewed by the Parliamentary Committee on Energy and Minerals before it is tabled to a panel of permanent secretaries for final approval.
According to the Deputy Minister, the government’s delay in setting-up the policy is based on the fact that the sector needs more attention from all stakeholders, who should agree on the best way for regulating the entire exploitation process.
Enhancing the government effort to improve revenue collection, Tanzania Revenue Authority (TRA) has embarked in a move to monitor all traders, making sure they issue receipt to their customers as per transaction made. The TRA task force will be commissioned to undertake the job effectively from May 15 this year.
According to TRA director of educational services, Richard Kayombo, the exercise will involve business people at all levels of capital investment. “We will take stern measures against those not complying, including revocation of their trading licenses. There will also be a penalty of between one and three million shillings for those who would fail to follow the rules,” he said.
He further said that buyers of consumer goods should develop a culture of demanding fiscal receipts for every purchase made from their sellers. “Buyers do not know the importance of receipts for the goods they purchase. Receipts help keep a good record of the financial transaction during auditing.”
Also he issued a directive to sellers to make sure they issue legal receipts to their customers for every purchase made or else the government would take to task business people who dare not comply.
TRA is a semi-autonomous agency of the Government, under the Minister for Finance established with the major functions to assess, collect and account for all Central Government Revenue. Also, to administer effectively and efficiently all the revenue laws of the central government, advise the government on all matters related to fiscal policy and promote voluntary tax compliance.
It is also responsible for improving equality of services to the taxpayers, counteracting fraud and other forms of tax evasion as well as producing trade statistics and publications.
A TRA senior officer, Alvera Ndabagoye said that, the Authority has started to use Electronic Fiscal Devices (EFDs) System due to the fact that it will encourage sellers to issue receipts for all goods sold or service rendered and called on stakeholders for cooperation to ensure efficiency.
For decades now, East African governments have been trying to adopt ambitious infrastructure projects in a bid to unclog the transportation problems, which hold back development programs. Supporting the initiative at hand the African Development Bank (AfDB) has approved two loans totalling $ 232.5 million for the construction of 157.5 km road project from Arusha to Holili in Tanzania and Taveta to Voi in Kenya.
“The East African Community seeks to improve regional transport infrastructure to support economic and social development programs in the region, promote tourism and foster regional integration and at the same time reduce the cost of doing business by supporting cross-border and international trade, as an African bank, we are firmly committed on supporting their initiative for the better tomorrow,” AfDB's Regional Director for the East Africa Resource Center, Gabriel Negatu said.
Arusha-Holili/Taveta-Voi Road is a transport corridor of the East African Region that links the Northern Corridor at Voi to the Central Corridor across the common border at Holili/Taveta through Arusha, Babati to Dodoma and Singida. It is expected to be completed by December 2018.
The road has been identified in the East African Regional Integration Strategy Paper (RISP 2011-2015) and the East African Transport Strategy and Regional Road Sector Development Program of November 2011 as a priority for intervention.
According to a statement from the regional bank, Tanzania will be awarded $ 120 million while Kenya will receive $ 113.12 million of the two loans approved by the AfDB board. The funds will help reduce the cost of transport and enhance access to agricultural inputs, larger markets and social services within the East Africa Community.
The Bank facility constitutes 89.1 percent of the total project cost. While the Kenyan and Tanzanian governments, contribute $ 15.6 million and $ 12.3 million, respectively.
The Africa Trade Fund has extended a $ 0.74 million grant for a small component for trade facilitation at the Namanga border, bringing to $ 262.2 million, the total cost of the project.
A result of rapid urbanization coupled with the explosive growth in motorization, the transportation system has become inadequate and is constraining economic growth and limiting access to job opportunities, education, and recreation, the statement said.
The project will comprise civil works for the construction of the Arusha Bypass (42.4 km) and the Sakina-Tengeru section (14.1 km) as well as the construction of two roadside amenities at Tengeru, one on either side of the dual carriageway in Tanzania.
It will also involve the upgrading of the Taveta-Mwatate portion (89 km) and construction of the Taveta Bypass (12 km) and two roadside amenities, at Bura and Maktau along the Mwatate-Taveta Road in Kenya.
“For Tanzania, the Second National Strategy for Growth and Reduction of Poverty or MKUKUTA II sets as a target raising the growth of the transport sector to 9.0 percent by 2015, while for Kenya, the upgrading of the Voi-Taveta Road falls within Pillar I of Vision 2030, the basis for socio-economic transformation, the statement said.
According to a report released by the Tanzania Chamber of Minerals and Energy (TCME) during its 18th annual general meeting, the anticipated several new major mines to be brought into production in the next five years, will change the mining sector landscape in terms of the sector’s contribution to the Tanzanian’s economy.
Releasing the report in Dar es Salaam recently, TCME Chairman Joseph Kahama said the new mines will result in a substantial increase in the number of Tanzanians employed in the sector, in government revenues, and will see improvements in the infrastructure and social services in areas related to those mines.
“Depending on fiscal policies and regulatory frameworks and mineral commodity prices it is anticipated that several new major mines will be brought into production in the next five years or so. Once they start operating Tanzania will see a major economic transformation,” he said.
Mr. Kahama mentioned one of the anticipated mines to start operations soon to be the Mantra’s Mkuju River project, where he noted that there has been intense debate in the country about the development of uranium mines due to fears associated with the inherent radioactive nature of the mineral.
According to the World Nuclear Association, there will be 650 nuclear reactors operating by 2032. Yearly, reactor related uranium requirements worldwide are forecast to rise to between 98,000 tonnes and 136,000 tonnes of uranium by 2035.
“This presents a great opportunity for uranium developers in the country as there will be a ready market for the concentrate (yellow cake),” said Mr Kahama.
In the meantime, both Mantra and Uranex have been engaging the public in awareness campaigns on the facts of Uranium mining in the surrounding communities and far beyond. With these exciting developments, Tanzania will soon be joining the league of African Uranium producing countries.
Mantra’s Mkuju River project in southern Tanzania had an updated resource of 119.4 million pounds of uranium.
According to Mantra Tanzania's Managing Director Asa Mwaipopo, it will take a two-year period for completing construction work before they could start to produce uranium oxide, and placing Tanzania at number three in Africa in uranium production after Niger and Namibia.
In the sideline of the meeting, Mwaipopo mentioned that the project will provide direct and indirect cash flows in Tanzania in excess of $ 640 million and will provide foreign direct investment (FDI) in excess of $ 1 billion or equivalent to 4.76 percent of Tanzania's GDP.
Statistics from the TCME report shows that between 1997 and 2011 a total of $ 10.1 billion worth of minerals were sold by Chamber members, compared to only $ 16.0 million in 1997. The minerals include gold, diamonds, silver, copper and tanzanite.
During 2011, $ 178.6 million was paid as royalties and statutory taxes to the government, while in the same year, community development initiatives amounted to $ 1.51 million compared to $ 1.96 the previous year.
Employment in the formal mines increased from 1781 in 1997 to about 15,000 in 2011 and expected to increase as potential new mines are constructed.
In 2011 TCME members spent a total of $ 441.5 million for local procurement of goods and services compared to $ 440.9 million in 2010, while salaries paid from mining operations to Tanzanian employees amounted to $ 87.3 million compared to $ 91.6 million in 2010.
The statistics provide to a large extent the tangible fiscal and social benefits that accrue to the Tanzanian economy which enables government to deliver on important development projects.
Executives from Xpress Money, one of the fastest growing money transfer companies in the world, have announced plans to add about 50 more locations by the end of this year.
“Looking at the remittance potential of Tanzania, it was imperative that our next launch destination in Africa be in this country,” Sudhesh Giriyan, vice president and business head at Xpress Money said during the official partnership with Diamond Trust Bank to offer its services in Tanzania.
In this partnership, the firm will facilitate money transfers for the large expatriate community in Tanzania while simultaneously contributing in increasing remittances from across the globe to both mainland Tanzania and Zanzibar.”
Customers using Xpress Money will pay Tsh7,000 ($ 4.3) for outbound International transfers and a special tariff of Tsh 5,000 ($ 3) for transfers within East Africa.
The firm also plans to launch a host of its send services including anywhere-payout, cash-to-account and card-remitters. Anywhere-payout allows a beneficiary to walk into any of Xpress Money’s agent location in the receive country to pick up the cash.
Cash-to-account allows money to be transferred directly to the beneficiary’s bank account while card-remitters allow a sender to debit money directly to the beneficiary’s debit card.
Diamond Trust Bank (DTB) Tanzania, has a total of 16 branches in the country with eight branches in Dar es Salaam, two in Arusha and one in Mwanza, Tanga, Mbeya, Moshi, Dodoma, Moshi and Zanzibar. The bank is planning to open four more branches this year in Iringa, Morogoro and Mtwara.
The chairman of the DTB board of directors, Abdul Samji, said: “The successful partnership between the DTB group and Xpress Money in Kenya for the past five years is now being extended to Tanzania.”
After a hiatus of more than half a century, British Petroleum (BP) has expressed interest to once again embark on Oil and gas exploration in Tanzania. The BP move has come few days after the government announced plans to auction about nine oil and gas blocks in the fourth quarter.
“The government of Tanzania may auction the new blocks by the end of September, a year after it postponed an auction round to write a gas policy. The government wants the final draft of the legislation ready by June,” Wellington Hudson, senior principal petroleum geologist at the state-owned Tanzania Petroleum Development Corp (TPDC) said.
He said that the British Petroleum wants to return as one of the majors in the upstream market. “They have expressed interest. We expect them to visit the country in a couple of weeks.”
According to Hudson, BP and Royal Dutch Shell Plc (RDSA) explored four blocks between 1952 and 1962.BP maintained an oil- marketing unit it owned equally with the government, before selling its stake to Puma Energy International BV last year.
Tanzania has confirmed 40.8 trillion cubic feet of natural gas reserves so far, some of it discovered by Statoil ASA and partner Exxon Mobil Corp, and BG Group Plc, which is working with Ophir Energy Plc.
The government is in final stages to establish the national oil and gas policy that is to govern the entire sector that is still new in the country. Energy and Minerals deputy minister George Simbachawene, made the revelation in the National Assembly yesterday.
Simbachawene said the current discoveries by companies, indicated that Tanzania’s natural-gas reserves have increased to 40.8tcf from the 35tcf formally discovered.
According to the minister, the government has completed all necessary processes in the establishment of the policy expected to open doors for investors to acquire licence for undergoing gas and oil exploration and exploitation.
He said the policy is being reviewed by the Parliamentary Committee on Energy and Minerals before it is tabled to a panel of permanent secretaries for final approval.
According to the Deputy Minister, the government’s delay in setting-up the policy is based on the fact that the sector needs more attention from all stakeholders, who should agree on the best way for regulating the entire exploitation process.
“We would have rushed things but instead we wanted broader participation of all stakeholders, the committee formed to go through the stakeholders’ opinions has acquired various supportive ideas from the public for the benefit of the sector,” he said.
The lawmaker claimed that there were numerous natural resources including gas but efforts for setting-up policy by the government does not meet the demand thus deterring the country’s full involvement in the sector.
While in Oslo, Norway, mid-this month Energy and Minerals minister Prof Sospeter Muhongo was reported saying discoveries of natural-gas reserves are likely to double by early 2015.
He said while the country prepares to offer new exploration blocks as early as September, “we have enormous amounts of gas. We are now at 40 tcf and I’m sure in the next two years we should be at more than a 100 tcf,” he said.
The minister said the government will offer exploration permits between September and November, after the country delayed a planned licensing round for nine blocks in September last year. Tanzania Petroleum Development Corporation will decide on a date for the round.
Residents of Dar es Salaam can now easily access Vodacom’s wide-range of products and services for both pre-pay and post paid across the city, following the launch of two new customer care centers at India Street and Morogoro road.
The new additions bring a total of 20 Vodacom customer care centers located in Dar es Salaam and 65 across the country.
“Vodacom is focused on adding value to its subscribers by offering a one-stop shop that allows them to make an informed decision when making their purchases as they will be able to demo live any handset or Vodacom product such as Broadband modems before actually purchasing it,” said Hassan Salleh – Chief Officer Sales and Distribution of Vodacom Tanzania.
Services available at Vodacom Retail Centres include Post-Pay, data and M-PESA. There are a variety of the latest handsets and data devices on sale at attractive prices and all sold with warranty.
Mr. Salleh said the firm, with more than 12.32 million mobile subscribers, will continue to introduce innovative products and services tailor-made to suit subscribers’ needs.
Recently, the company has embarked on a rollout of its Third generation High Speed Downlink Data Packet Access, ( 3G/HSDPA) broadband service. With this new service Vodacom customers have the option of accessing the broadband internet service through 3G enabled devices that range from USB modems, phones or IPADS.
The Vodacom 3G/HSDPA USB modems, which are now on sale in Vodacom customer care centers and through selected dealers, offer broadband speed on the move. The modems slots into a laptop, and allows the user to surf the internet and access their email at their convenience.
Mr. Salleh, says their 3G broadband internet service will eliminate the perennial challenges of limited network infrastructure, and expensive internet access alternatives as currently available in Tanzania.
“The 3G technology will enable us offer our subscribers within the current coverage area, a wider-range of more advanced data and voice services while achieving greater network capacity through improved spectral efficiency.”
When 3G isn't available, the USB modem will use the Vodacom EDGE/GPRS network, which is available almost universally in Tanzania.
Airtel Money Manager, Asupya Nalingigwa (Left) talking with photojournalists in Dar es Salaam during the two-day workshop that aimed at exchanging ideas on how to strengthen photojournalism skills. The workshop was sponsored by Airtel Money. The Second from left are Airtel’s Relation and event officer, Ms. Dangio Kaniki and Richard Ndunguru a university lecture.
Julius Nyerere International Airport (JNIA).
Following the signing of $ 164.3 million pact for the construction of Julius Nyerere International Airport (JNIA) Terminal III between Tanzania Airports Authority (TAA) and BAM International of Netherlands, in few years to come the airport will have the capacity to handle a total of about 6 million passengers per year.
"The current terminal II has the capacity of handling 1.2 million passengers and upon completion of terminal III the former will be dedicated to serving domestic passengers only," TAA Director General, Mr. Suleiman Suleiman said.
According to Mr. Suleiman, the construction is of vital importance as terminal II is currently overwhelmed with 2 million passengers using it annually while it has the capacity to handle 1.2 million passengers.
BAM International Director General, Mr Martin Bellamy thanked TAA for the trust it has extended to them and promised to deliver and construct the best terminal that meets international standards."We will deliver a truly world class international airport," he said.
Minister for Transport, Dr. Harrison Mwakyembe, has praised the move saying that the long awaited construction of terminal III will improve aviation transport in the country and boost the economy as well.
"The project will increase government revenue as more airplanes will be attracted to use JNIA," he said.
He thanked the government of the Netherlands for her continued support in various projects starting with that of JNIA renovation between 2005 and 2008 and the forthcoming construction of Terminal III.
The visit by President Jakaya Kikwete to the Netherlands this week was yet another sign that the two countries' relations are set to grow even further.
Representative of the Netherlands' Ambassador to Tanzania, Ms. Rennet Waals assured the government of continued support and strengthening of bilateral ties. "The Netherlands is among the top ten foreign investors in this country and we have put much interest in horticulture and many tourists from the Netherlands have been visiting Tanzania," she said.
She added that infrastructure development will be a key focus in the two countries' relations and that the Netherlands will increase support in the sector.
Map of Tanga region.
In a move to revive the pride of Tanga region as the country’s industrial hub, the Tanzania government has partnered with GoodPM, a Korean firm, to install about 15 industries in a 73-hectare land in Pongwe area. The proposed construction of these industries which falls under the Tanga Economic Corridors is expected to start in May this year.
“Up to the moment, the government in collaboration with the Export Processing Zones Authority of Tanzania (EPZA) has allocated 1,363 hectares of land for industrial development in Tanga Region,” Minister of State in the Prime Minister's Office (Investment and Empowerment) Mary Nagu said.
According to the Minister, the government in collaboration with National Development Corporation (NDC) has allocated another area of about 50 hectares that will be used for industrial development in Kange, Mbugani and Tanga. “Assessment for the industrial area has been completed and industries such as NILCANT lime processing, Rhino Cement and Sungura Cement will be built very soon in the area,” she said.
In another development, the government has vowed to take legal action against owners of idle factories in various parts of the country, for failure to develop them as required. The plan will ensure stable development of the industry sector in the country.
"We are carrying out an evaluation to identify factories that have failed to develop and take legal action," she said.
In line with the move, the State is also planning to repossess idle factories especially in Tanga and hand them over to the public if the owners prove that they have failed to develop them. The Minister promised to consider the idea upon completion of an evaluation planned to be carried out soon.
The evolving natural gas story has given legs to Tanzania's high GDP growth rate inspite of the headwinds for the mining sector, the largest driver of foreign direct investment so far. According to Reuter’s poll, Tanzania is seen growing 7.0 percent this year, up from a median estimate of 6.8 percent in 2012.
Moderate inflation in Tanzania, plus booming oil and gas exploration will also make room for lower interest rates to underpin growth. Norway's Statoil and British Gas (BG) have announced that they will go ahead with plans to build a liquefied natural gas (LNG) terminal in Tanzania, after Statoil made its third gas discovery in the region in 2012.
In a similar poll taken in January, a boom in oil and gas investment in East Africa promised to sustain robust economic growth for Tanzania, even though corruption and power failures still hinders the economy.
According to the poll, the East Africa's second biggest economy, Tanzania, will see the largest moderation in consumer inflation, falling into single digits from previous annual averages in the high teens. While Tanzania's inflation slowed to 9.8 percent in March its central bank is still intervening in currency markets to fight a depreciation of the shilling.
Meanwhile the East Africa's three biggest economies (Kenya, Tanzania & Uganda) will remain resilient this year and next, despite lacklustre demand from their traditional trading partners in the euro zone.
"We think the East African countries are likely to be among the region's best performers over the next two years owing to increasing investment into natural resource sectors," said Shilan Shah of London-based Capital Economics.
Other countries in East Africa with huge natural resource potential include Rwanda and Mozambique.
The poll, taken in the past week, suggested Kenya's economy will grow 5.5 percent, above last year's 4.3 percent, in line with the previous survey.
Kenya's shilling has gained almost 3 percent since the tightly fought March 4 Presidential election passed off peacefully, in contrast to the previous poll five years ago when a disputed outcome led to violence that brought the economy to its knees.
The survey also still showed large current account deficits, suggesting the downturn in the European economy, a traditional export destination but mired in recession, may not be subduing growth as much as had been feared.
Tanzania’s Vice President Dr. Mohammed Gharib Bilal (left) unveils a pull up banner to symbolize the launch of One Health in Tanzania initiative. Right is One Health Central and Eastern Africa (OHCEA) Country Focal Person Prof. Japhet Kilewo.
Health institutions in Tanzania has pulled together to form a one health network which would harmonize activities done by these institutions which aims at minimizing duplication of efforts to fight communicable diseases.
The network launched on Tuesday by Tanzania’s Vice President Dr. Mohammed Gharib Bilal in Arusha, will see three institutions - the National Institute for Medical Research (NIMR), Southern African Centre for Infectious Diseases Surveillance (SACIDS) and One Health Central and Eastern Africa (OHCEA) - working together to identify, prevent and eradicate communicable diseases in Tanzania.
Speaking during the opening of the 27th Annual Joint Scientific Conference of the National Institute for Medical Research (NIMR) and the 2nd One Health Conference in Africa which jointly organized by NIMR, SACIDS and OHCEA, Dr. Bilal said the Government will continue to support all national, regional and international commitments for surveillance, risk management and control of communicable diseases.
He said that the fact that NIMR has joined forces with the SACIDS and OHCEA to hold the largest gathering that has brought human health and animal health experts under one roof to discuss measures on how to control the pandemic is a good start of partnership which will transform Tanzania’s health sector landscape.
The conference goes with the theme, “Changing Landscape in Health Research in Africa.” According to Dr. Bilal, the theme is timely, considering that the government is preparing to implement its 4th National Health Research Priorities.
“Tanzania, like many other Sub-Saharan Africa countries is challenged by a number of emerging and re-emerging communicable diseases,” he said and added, “I am glad to learn that one of the sub-themes of this conference is addressing “One Health in Africa.”
Elaborating on the One Health in Tanzania initiative, OHCEA Country Focal Person, Prof. Japhet Kilewo said the network will see several one health networks in Tanzania which share the common mission of driving transformational change for improvement and wellbeing of humans, animals and the ecosystem through multidisciplinary research, training and community service, working together.
“These bodies have recently met and charted out a way forward including the formation of the ‘one health forum’ that would harmonize the activities of these networks so that duplication of efforts is minimized,” he said.
“Experience with AIDS epidemic indicates that, we have lost many opportunities which would have enabled us to investigate and limit the spill over of agents of diseases from animals to humans. We should therefore not allow other epidemics to take us by surprise like HIV/AIDS,” he said.
Prof. Kilewo mentioned that in order to do that healthcare institutions must be prepared to identify potential human disease agents which reside in animals (both wild and domestic). They must also prepare to prevent these disease agents from spilling over to humans, but if they cause infections in humans we must be prepared to control and/or treat it.
Elaborating National Health Priorities (2013-2020) initiative, the Director General of NIMR, Dr. Mwele Malecela said that, the priorities which are set every five years allows them to re-examine what key areas for research should be.
“This is done in collaboration with several stakeholders and most prominently Tanzania Health Research forum,” Dr. Mwele said.
About SACIDS Regional Strategic Plan focusing this year to 2020, the SACIDS Executive Director, Prof. Mark Rweyemamu said that they are set to develop the capabilities of young African scientists and catalyzing institutional change of mindset.
Prof. Rweyemamu said, in this initiative they have introduced the concept of a community of practice for research themes.
In the current five years, he said they have focused on five specific diseases themes, namely Ebola, Rift Valley Fever, Tuberculosis, Plague and Foot-and-Mouth disease.
“We have targeted the poor communities, especially in the areas of contact between people, livestock and wildlife,” Prof. Rweyemamu said.
Following cement demand growth of about 10 percent last year to 2.7 million tons in Tanzania, HeidelbergCement has hired Tianjin Cement Industry Design & Research Institute Co. to construct a factory with the ability to produce 700,000 tons a year in the commercial capital of Dar es Salaam.
In a move the company has announced plans to invest about Tshs 50 billion ($ 31 million) to build its fifth plant there by 2014, boosting capacity to 2 million metric tons a year.
According to the company’s annual report, growth in the building industry accelerated 6.5 percent in the third quarter of 2012, from a contraction of 5.4 percent a year earlier. Cement demand grew about 10 percent last year to 2.7 million tons in the country.
“We have seen a tremendous growth of our sales in Tanzania and we need to keep up with the demand in the future,” Managing Director, Pascal Lesoinne said.
He said that the market in Tanzania will continue to grow but the competition will intensify with the cement production units already under construction and those in the offing.
The company, which is also known as Twiga Cement, will begin to produce aggregates including gravel and sand this year.
“An upgrade of a clinker line at Tanzania Portland’s Wazo Hill plant has ended the company’s reliance on expensive imports,” he said.
Finnish phone maker Nokia said it expects its Lumia sales to grow 27 percent in the second quarter, as it looks to increase the 19.9 million Windows Phone handsets that it has sold in total to date.
Early this week Airtel Tanzania and Nokia have jointly launched the Nokia Lumia 620 smartphone that will enable Airtel customers across the country to access state of art services through their phone. Customers will also enjoy massive offers including free SMS, talk time and internet bundle offers for three months.
"Nokia is committed to providing great mobile products that connect our consumers to what matters most to them. We are pleased to bring the affordable and feature-rich Nokia Lumia 620 to Tanzania. We believe the great design, fun colours and unique Windows Phone 8 experience, will appeal to our valued consumers. This, combined with Airtel's value adding services, provides a compelling reason to switch to Lumia," Nokia Country Manager, Samson Majwala said.
Nokia Lumia 620 phones are available in all Airtel shops, Midcom outlets and Nokia premier dealer shops across the country at Tshs 450,000 shillings.
The firm announced that it sold a record 5.6 million Lumia smartphones in the first three months of 2013, up massively from the two million sold the previous year. It was also an increase from the fourth quarter, when the firm announced sales of 4.4 million.
Nokia CEO, Stephen Elop seemed pretty pleased with the results, although he said there's still plenty of work for Nokia to do when it comes to mobile. He said, "At the highest level, we are pleased that Nokia Group achieved underlying operating profitability for the third quarter in a row.”
He further said that, "We have areas where we are making progress, and areas where we are further increasing the focus. For example, people are responding positively to the Lumia portfolio, and our volumes are increasing quarter over quarter.
Nokia said that two-thirds of the Lumia handsets it sold in the first quarter were running Microsoft’s Window Phone 8 operating system which shows that as well as people flocking to buy the Lumia 920 and Lumia 820 handsets, people were still picking up the affordable Nokia Lumia 800.
As well as revealing that it sold just 400,000 Lumia devices in North America during the quarter, a 33 percent decline compared to the 700,000 it sold in the previous quarter, the firm posted a € 150 million loss. While the loss falls into the gloomy category, it is encouraging for the firm compared to the € 1.34 billion loss the company posted this time in 2012.
"On the other hand, our Mobile Phones business faces a difficult competitive environment, and we are taking tactical actions and bringing new innovation to market to address our challenges."
The Exim Bank Tanzania Chief Finance Officer Selemani Ponda (left) stresses a point to journalists on the bank’s financial performance last year. Looking on is the bank’s Managing Director Anthony Grant (centre) and the bank’s Senior Finance Manager Issa Hamis (right).
Exim Bank Group with subsidiaries in Tanzania, Djibouti and Comoros has recorded a 10 percent growth in profits after tax, rising from Tshs12.4 billion recorded in 2011 to Tshs 13.7 billion in 2012.
“The bank is now close to the trillion shilling milestone,” Exim Bank Tanzania Managing Director Anthony Grant said when addressing a press conference on the bank’s financial performance for the year ended December 2012.
The bank’s total assets rose by 14.9 percent to Tshs 966.5 billion for the year ending 2012, as compared to Tshs 841 billion recorded for December 2011.
According to Mr. Grant, the total deposits grew by 16 percent from Tshs 699 billion recorded in 2011 to Tshs 809 billion in 2012. Total shareholder funds for the Group rose by 22.5 percent from Tshs 89.3 recorded in 2011 to Tshs 109.4 billion in 2012.
Return on average shareholder funds however grew by 14.2 percent and basic earnings per share rose basic earnings per share went up by 9 percent from Tshs971 in 2011 to Tshs1,059 in 2012.
“During the year Exim Bank invested to strengthen its foundation. The bank transitioned into a new core banking system that became fully operational in 2012, Mr. Grant said.
He said that during the year the bank continued its planned expansion, adding a new full service branch at Kigoma on Lake Tanganyika and opening a second Moshi branch named Kilimanjaro. Resources were also placed into preparation for a new Shinyanga branch, opened in February 2013. Exim Bank operates Tanzania’s fourth largest branch network.
Mr. Grant was upbeat on the bright future, commenting also on the bank’s position as Tanzania’s only indigenous bank to have spread its wings to operate in two other countries Comoros and Djibouti.
“Exim Bank will continue to take services closer to communities across the country and launch new distribution channels. Our corporate and individual customers have been able to enjoy world class products,” he said.
Bank of Tanzania.
The slowdown of prices under items of food and non-food in the country has eased the annual headline inflation rate from 10.9 percent recorded in January 2013 to 10.4 percent in February 2013, the Bank of Tanzania (BoT) monthly economic review report has revealed.
According to the report, month-to-month average wholesale prices of the major food crops decreased, except those for sorghum and maize.
However, month-to-month headline inflation rate increased from 1.3 percent recorded in January 2013 to 1.4 percent in February 2013.
“Annual inflation for Food and Non-alcoholic beverages remained almost unchanged at 12.0 percent in February 2013 compared to 11.9 percent recorded in January 2013. Month-to-month food inflation decreased from 2.5 percent recorded in January 2013 to 2.2 percent in February 2013 due to a slowdown in the prices of vegetables, fruits and beans,” read part of the report.
The report stipulated further that on an annual basis, the average prices for all food crops increased, with maize registering the highest increase, followed by sorghum and potatoes.
Due to a decrease in prices of items under garments for men, floor coverings and accommodation services, the annual non-food inflation rate decreased from 9.3 percent recorded in January 2013 to 8.4 percent in February 2013.
On a month-to-month basis, the non-food inflation rate increased to 0.7 percent in February 2013 from negative 1.8 percent recorded in the preceding month.
Meanwhile, annual inflation rate for energy and fuels increased from 17.4 percent recorded in January 2013 to 18.3 percent in February 2013, while annual inflation rate excluding food and energy declined from 7.9 percent recorded in January 2013 to 6.7 percent in February 2013. On a month-to-month basis, the rate remained at 0.3 percent same as the rate recorded in the preceding month.
If the slump in gold prices persists there is a possibility that the Tanzania mines will close, the acting mineral commissioner, Ally Samaje said in Dar es Salaam.
Gold plunged 9.1 percent on April 15, the biggest drop since 1983. The price has declined as the U.S. economy strengthened and Federal Reserve policy makers signalled that stimulus may be scaled back, denting demand for the metal as a haven.
“Gold prices dropping are not only a concern to the Ministry of Energy; they are a concern to the whole nation. We are concerned that as the price of gold continues to drop it will discourage future investment, if this continues, there will be a point when companies can’t operate and mines will close,” he said.
Gold accounts for about 35 percent of Tanzania’s export earnings and the government is seeking to quadruple the contribution of mining over the next 12 years from 2.3 percent of gross domestic product currently.
The value of Tanzania’s gold exports declined 8 percent to $ 2.09 billion in the 12 months through February from $ 2.26 billion a year earlier, according to the central bank.
Tanzania, Africa’s fourth-largest producer of the metal, African Barrick Gold Plc, the biggest producer of the metal in Tanzania, operates four mines in the country, while AngloGold Ashanti Ltd has one. Resolute Mining Ltd which owns the Golden Pride Mine that opened in 1998, plans to end mining operations there by June, according to its website.
“The falling of gold prices means that we will miss out on significant revenue, not only general revenue but also corporate taxes go down, “We haven’t felt the impact yet so we haven’t started to make noise,” Samaje said.
The price of gold, which rallied for the past 12 years in the longest gain in at least nine decades, has lost 28 percent since climbing to a record $ 1,921.15 an ounce in September 2011. It rose as much as 0.6 percent to $ 1,376.59 an ounce by 1:23 p.m. in Singapore today.
Tanzania is concerned that gold mining companies will take cost-cutting measures and trim output amid falling demand for the precious metal, Samaje said.
Professor Benno Ndulu, the governor of the Central Bank of Tanzania.
The tendency by Tanzania government to borrow from the banking system has declined from Tshs 876.2 billion recorded in the year ending February 2012 to Tshs 618.6 billion in February this year.
“The decline in government borrowing reflects improved revenue collection efforts accompanied with prudent expenditure management,” Professor Benno Ndulu, the governor of the Central Bank of Tanzania said.
Domestic revenue collection amounted to Tshs 4,228.0 billion, exceeding the recurrent expenditures of Tshs 4,018.5 billion.
Domestic revenue collected by the Central Government was Tshs 4,124.9 billion or 94.5 percent of the target. Tax revenue accounted for 92.0 percent of total domestic revenue. Grants amounted to Tshs 1,138.6 billion, compared to the projected amount of Tshs 1,076.8 billion.
According to Proffessor Ndullu, from July to December 2012, total expenditure amounted to Tshs 6,023.2 billion, which was 87.7 percent of the estimate. Recurrent expenditure was Tshs 4,018.5 billion or 87.2 percent of the estimate, while development expenditure was Tshs 2,004.7 billion or 88.6 percent of the estimates for the period.
Domestic revenue and grants amounted to Tshs 1,251.5 billion during December 2012. Revenue collected by the Central Government was Tshs 899.4 billion and was in line with the target. Tax revenue amounted to Tshs 864.9 billion, 4.4 percent higher than the target.
During the month under review, total expenditure amounted to Tshs 1,207.4 billion, out of which recurrent expenditure was Tshs 608.1 billion and development expenditure was Tshs 599.3 billion.
The increase of net interest income to of Tshs 97 billion in the year ending December last year, against the Tshs 88 billion recorded in the previous year has partly attributed to the outstanding performance of the National Bank of Commerce Ltd (NBC) which has been performing losses for some years.
For the year ending December 2012 NBC has recorded a rise in total comprehensive income to about Tshs 3.3 billion, compared to a loss of about Tshs 1.1 billion recorded in the corresponding period in 2011. The net and non-interest incomes together increased to 131.87 billion compared to 129. billion of the preceding period.
According to the audited financial statements of the bank, comprehensive income was Tshs 1.05 billion compared to a loss of about Tshs 938 million recorded in the year ending December 2011. Similarly, net income after tax increased to Tshs 2.25 billion in the period under review, up from a loss Tshs 167 million recorded in the year ending December 2011.
Deposits due to customers increased to Tshs 1.29 trillion in the period ending December, last year compared to Tshs 1.28 trillion and Tshs 1.21 trillion registered in the previous years, 2011 and 2010, respectively. The basic earnings per share increased to Tshs 2,252 in the period under review, up from a loss of Tshs 167 registered in the year ending December 2011.
Furthermore, the bank's total assets has been increasing significantly in three consecutive years to about Tshs 1.52 trillion in the year ending December 2012 compared to Tshs 1.49 trillion and Tshs 1.44 trillion recorded in 2011 and 2010, respectively.
The positive performance of the total assets is partly contributed by the increase in cash and balances with the Bank of Tanzania (BoT) to Tshs 296.9 billion in period under review from Tshs 275.9 billion and Tshs 247.4 billion registered in the period ending December 2011 and 2010, respectively.
Tanzania has recorded a slight improvement in export of goods and services for the year ending February 2013. According to the report by Tanzania Central Bank the value of export of goods and services amounted to $ 8,615.3 million in the year under review compared to $ 7,506.8 million recorded in the February 2012.
BoT report says the improved performance was attributed to an increase in receipts from traditional exports, manufactured goods and travel.
The value of traditional exports increased by 42.7 percent in the year ending February 2013, compared with an increase of 1.7 percent recorded in the year ending February 2012. “The increase was driven by export volumes as unit prices declined for most of the crops. Good weather conditions experienced in the growing areas led to a substantial increase in export volumes of cotton, tobacco, coffee and cashew nuts,” read part of the report.
The value of non-traditional exports amounted to $ 4,182.0 million in the year ending February 2013 compared with $ 3,824.4 million recorded in the corresponding period in 2012. With the exception of gold, all other non-traditional exports increased.
According to BoT, services receipt during the year ending February 2013, increased by 15.7 percent to $ 2,703.1 million compared with the amount recorded in the preceding year. The increase was mainly driven by travel and transportation which accounted for over 80 percent.
However, the value of import of goods and services increased marginally by 0.2 percent in the year ending February 2013, compared with an increase of 38.9 percent recorded in the year ending February 2012. The slowdown occurred in imports of capital and intermediate goods.
Services payment increased by 4.8 percent to $ 2,373.9 million in the year ending February 2013, compared to an increase of 18.6 percent recorded in the year ending February 2012.
Airtel Tanzania and Nokia have jointly launched the Nokia Lumia 620 smartphone that will enable Airtel customers across the country to access state of art services through their phone. Customers will also enjoy massive offers including free SMS, talk time and internet bundle offers for three months.
"We have partnered with Nokia to ensure we provide quality and affordable services on Nokia smartphones that guarantee a customer experience. With our 3.75 G data offering across the country, our customers are assured of reliable service offering at all times,” Airtel public relations manager, Jackson Mmbando said during the launch.
The Nokia Lumia 620 with an Airtel SIM card provides access to numerous features including seamless internet connectivity and access to social media networks.
The Nokia Lumia 620 uses a new dual-shot color technique to deliver a variety of striking color and texture effects. With seven different exchangeable shells to choose from, people can adapt the look of their Nokia Lumia 620 to their own personal taste and style.
Other features include the exclusive camera 'lenses', apps that transform the creative power of the Nokia Lumia 620's five megapixel main camera and VGA front-facing camera. The Cinemagraph lens adds simple animations to still photographs, while Smart Shoot creates a single, perfect shot from multiple images, even removing unwanted objects from the picture.
The Nokia Lumia 620 also provides access to the world's best maps and locally relevant location experience including Nokia Maps, Nokia Drive and the exclusive Nokia City Lens. Nokia City Lens displays information about local surroundings overlaid onto buildings as seen through the camera viewfinder.
The Nokia Lumia 620 will be bundled with a monthly package that will offer free 275 minutes talk time to call all networks, free unlimited sms and free internet bundle of 3GB. This same bundle will be provided for 3 consecutive months.
To receive the special offer, customers will be required to recharge with 1000 Shilling's or more worth of airtime after their purchase of the Nokia Lumia 620 smartphone. To cement our commitment to offer great value for money, the offer will be ongoing for three months after Airtel Customers purchase the Nokia Lumia 620.
"Airtel will continue to co-operate with various companies in providing affordable quality services through its extensive network coverage such as Airtel Money and the mega Airtel Yatosha service plan," added Mmbando.
On his part, Nokia Country Manager Samson Majwala said, "Nokia is committed to providing great mobile products that connect our consumers to what matters most to them. We are pleased to bring the affordable and feature-rich Nokia Lumia 620 to Tanzania. We believe the great design, fun colours and unique Windows Phone 8 experience, will appeal to our valued consumers. This, combined with Airtel's value adding services, provides a compelling reason to switch to Lumia".
Nokia Lumia 620 phones are available in all Airtel shops, Midcom outlets and Nokia premier dealer shops across the country at Tshs 450,000 shillings.
With the great Nokia Lumia 620 experience, Airtel customers will be able to enjoy various services including Airtel Money, Airtel Yatosha, Jirushe, Short Message Services and internet service of 3.75G.
The government has been urged to put more effort in providing training on 3G technology across the country. This has been revealed by residents of Dar es Salaam during the ongoing ‘Vodacom 3G Roll out Campaign’, who argue that training in telecommunications technology is important to Tanzanians for it will shape the future of the country.
Wenselaus Agola , a resident of Mbezi Kimara, Dar es Salaam, says that Tanzania may lose a lot in technology improvement compared to other African countries due to lack of knowledge on this particular subject.
“The world is changing rapidly and we have to be part of this change, without this the future of our country is not certain,” he says, adding that, “Most of us cannot afford going back to school to study technology but the Government and telecom firms can support us with some knowledge that will enable us run our day to day lives.”
Vodacom Tanzania is the first operator to extend these services to its customers after investing more than Tshs 250 billion on additional 3G base stations as well as improving the existing networks.
Another resident of Mtoni kwa Aziz Ally, Mr. Jamal Abdallah, said that as days go by, there is a possibility of large groups of people in the country, especially those from rural areas and some in urban areas, being isolated from technological developments due to lack of understanding and therefore fail to participate in the building of their nation’s economy.
Moreover, he commended Vodacom for promoting the lives of its customers, especially through the M-Pesa service and some other improvements done towards its base stations.
Vodacom recently launched Long Term Evolution (LTE) in Tanzania and is the first company in the telecommunication industry to launch this service. It is with this launch that the company is conducting public awareness campaign aimed at educating the public on the benefits of 3G technology, collecting customer opinions, and providing technical advice to customers on how to effectively use packages available on the network according to recent changes that have been brought by the new technology.
Apart from changing competitive interest rate to lenders, the UNIT Trust of Tanzania (UTT) has gone a tape further by adopting advanced technology on acquiring and repaying loans —especially mobile money transfer platforms.
“We don't want our clients to travel all the way from upcountry for either looking or paying for loans. Access and repayment will be conducted through mobile money transfer platform,” The UTT Microfinance Chief Operating Officer, Mr. James Washima said.
He further said that UTT have gone one step ahead by introducing a microfinance unit to usher in a new interest rate era for micro-investors. The objective of the unit is to supplement and fast track savings and investment culture through financing of economic viable and bankable projects.
According to Mr. Washima, the application process and receiving loan takes merely a day for the fund investors with very low interest rate charged. “The interest rate is only 18 per cent compared to other micro institutions that charge up to 48 per cent. All loans issued by UTT-MFI have to be channelled to productive sector and not in leisure activities like wedding or private cars,” he said.
The UTT-MFI issues loans to all walk of the economy under four products, namely Niwezeshe designed for UTT unit holders only and Nufaika for non UTT member but sponsored by a member. Others are Biashara for small and medium income businesses under self guarantee mode and Taasisi for SMEs, Saccos and the like that have proven performance record while registered in accordance with existing laws.
The UTT members will use their units as collateral to borrow up to 75 per cent and 85 per cent of their value of live units for Niwezeshe and Nufaika loans, respectively. The return period is between six to two years, with the loan repayment being on monthly basis.
The minimum lending amount is Tshs 50,000 while Tshs 50 million is the highest for individuals while institutions can get up to Tshs 2 billion. The UTT CEO, Dr. Hamis Kibola, said the microfinance is a standalone unit of UTT with own capital and will not use the fund money for its activities unless by borrowing and paying interest.
There result of the recent survey shows that 100 percent of customers were satisfied with their flights and would recommend the company to a friend.
According to the survey, nine out of 10 passengers surveyed considered FastJet flights to be "very good value" and stated that they would fly with the Africa-focused budget carrier again.
"FastJet’s passengers remain our top priority and we fully intend to keep delivering the high standard of service that has come to be expected of us," Chief commercial officer Richard Bodin said.
So far 30,000 tickets have been sold at the lowest fare of US $ 20 since operations launched last November. In March, the company said it expects to report revenues of around US $ 32 million for the 18 months to December 31. The company's full results statement is expected this month.
WhatsApp has now become more popular than Twitter. The smartphone app currently has over 200 million monthly active users, who send out and receive over 20 billion messages each day.
Jan Koum, CEO of WhatsApp has revealed that, since its launch back in 2009, WhatsApp’s popularity has skyrocketed. The App processes an estimated total of 12 billion outbound messages and 8 billion inbound messages on a daily basis.
“WhatsApp generates its revenue off of its annual 99 cents subscription fee. By charging such a meagre fee, it is able to forgo ads and provide its users with the best messaging experience available. It is being used all around the world by millions and millions of users,” said Koum.
Koum sees much more success in WhatsApp’s future. He says that he’s looking forward to the day when the world is filled with billions of phones. “And once that happens its going to be extremely easy to monetize. But a lot more people need to join the smartphone revolution and a lot more people need to buy more goods on their phones,” he said.
Chance of advertising in WhatsApp.
Koum also says that there’s no chance of advertising ever making it to WhatsApp. He states that WhatsApp is completely anti-advertising, because no one likes ads. He feels that we already come across a lot of ads throughout our daily routines that there’s no need to bring any more into the picture. He believes that bringing ads to WhatsApp, or any app, is a bad idea.
He states, “Our phones are so intimately connected to us, to our lives. Putting advertising on a device like that is a bad idea. You don’t want to be interrupted by ads when you’re chatting with your loved ones.”
Despite various challenges, including intense competition, Tanzania Portland Cement Company Limited (TPCC) managed to post a net profit of about Tshs 61.57 billion for the year ending December 2012, up from Tsh 50.6 billion in 2011, which is an increase of about 22 percent.
Firm’s Managing Director, Mr. Pascal Lesoinne, attributed the company’s good financial performance to Tanzania’s stable economic growth rate of 6.8 and improved power supply. Besides, the Tanzania Shilling was relatively stable against its major trading partners last year.
“Following the good performance, the board of directors approved a total dividend of Tshs 33.29 billion, to be paid to shareholders,” The approved total dividend is more than the Tsh 32.38 billion that the company approved in 2011.
The company is currently undertaking a major expansion drive that will see its production balloon to over two million tonnes per year come 2014 from the current 1.4 million tonnes. In the expansion move the company is injecting some $ 30 million (about Tsh 48 billion) into the construction of another cement mill at Wazo Hill outside Dar es Salaam.
TPCC which trades as Twiga Cement also plans to start producing aggregates mid this year as it seeks to diversify its operations in the country.
The President of Comoros, Dr. Ikililou Dhoinine, cuts a ribbon to inaugurate Exim Bank’s third branch in the Union of Comoros at the weekend. Looking on is Exim Bank Tanzania Board Chairman Yogesh Manek.
EXIM Bank Comoros, an affiliate of Exim Bank Tanzania has continued to strengthen its position as the fastest growing bank in the Union of Comoros with the opening of the bank’s third branch on the Island of Moheli in a ceremony presided over by the President of Comoros, Dr. Ikililou Dhoinine, and Exim Bank Tanzania Board Chairman, Mr. Yogesh Manek.
The new Exim Bank branch apart from offering tailor-made banking services will facilitate remittances and payments through MoneyGram, and will enable acceptance of Visa and MasterCard on the island through the Exim Bank ATM services.
Speaking during the inauguration of the new branch at the weekend, Chairman Manek said the branch will contribute to the development of an effective, efficient and sustainable financial sector in the Union of Comoros, in line with the bank’s mission of taking affordable banking services closer to the people.
“About five years ago, I officiated at the opening of Exim Bank’s first branch in Comoros (on Moroni Island). I am happy take part in the inauguration of our third branch in Comoros today (on Moheli Island),” Chairman Manek said, adding that Exim Bank had become Tanzania’s fifth largest bank with a branch network stretching across the country.
In Comoros and in Tanzania, Mr. Manek noted, “Exim Bank will always work towards striking a balance between bank profitability and the provision of unmatched banking service to all sectors of the community.”
In Comoros, the bank had already acquired over 25,000 customers and operated Exim Bank on Wheels allowing those living in remote areas to have access to real time banking operations.
During the occasion, the President of Comoros Dr. Ikililou Dhoinine thanked the bank, and expressed his determination to support the country's continuous development process.
“I believe Exim Bank will be one of the players in supporting this development process. East Africa has a lot of unexploited investment potentials. That is why all eyes are turning to Eastern Africa,” he said.
For his part, the Governor, Central Bank of Comoros Mohamed Ali said the opening of Exim Bank’s new branch is a major boost to the country’s banking system.
Exim Bank Tanzania Managing Director Anthony Grant said “the bank has a positive outlook on the economic developments in all countries where the bank operates.”
France-based Alcatel One Touch has announced its plans to sell at least 30,000 smartphones in Tanzania by the end of this year. The company is also planning to inject $ 1 million in advertisement and other promotional events for the entire East Africa in this year.
“We have carefully studied the market and learnt that it had serious competitors and our target is to occupy the third slot by the end of next year. To settle comfortably in the third slot, the company will have to outpace Techno which holds the third slot preceded by Samsung and Nokia,” the Alcatel marketing manager for Southern Africa, Mr. Nicholas Visser, said.
The company plans to take a leaf from telecommunication books in Kenya to make fortunes in Tanzania. In Kenya, the company has sold 40,000 handsets during the past three months, courtesy of the affordability of its products.
“We are confident of making it in Tanzania...we are headquartered in France and our phones are manufactured in China so we are bringing to Tanzania, a combination of French and Chinese technologies....this makes us unique,” Mr. Visser, said.
Alcatel One Touch is owned by TCL Communication, an international multicultural company which designs, develops, and markets globally a growing range of mobile and Internet devices. TCL Communication is a public company listed on the Hong Kong Stock Exchange (2618.HK) and is part of TCL Corporation one of the largest consumer electronics companies in the world.
Bagamoyo satellite picture.
Experts are confident that after the completion of the long awaited multibillion Bagamoyo port project in the year 2017, Tanzania will become the Africa’s transhipment hub that will rival the major ports of the Persian Gulf.
The port at Bagamoyo -- northwest of Dar es Salaam -- will be able to handle twenty times more cargo than the port in the current Dar es Salaam port, which is the country's largest port. "It will handle 20 million containers a year, compared to the port of Dar es Salaam, which is handling only 800,000 containers a year. This means the comming of the new port will also improve doing business in Tanzania and to the land locked countries," experts said.
They further said that the new port will be used as a transhipment hub for raw materials coming in and out of landlocked Malawi, Zambia, Congo, Burundi, Rwanda, and Uganda and other landlocked countries.
China has agreed to finance the $ 10 billion mega port. And according to the bilateral deals China will commit around Tshs 800 billion ($ 500 million) in 2013 as the initial capital for contraction of port. The rest of the finances from Chinese will follow in 2014 and 2015.
The port construction project will include the building of a new 34 kilometre road joining Bagamoyo to Mlandizi and 65 kilometres of railway connecting Bagamoyo to the Tanzania-Zambia Railway (TAZARA) and Central Railway.
"The port at Bagamoyo will be of high standards. We are building a fourth generation port," said Tanzania's Ambassador to China, Mr. Philip Marmo.
Other projects under the Chinese-Tanzanian agreements include the creation of a modern agricultural and industrialisation zone, interest-free loans and loan agreements between the Export-Import Bank of China and the Bank of Tanzania, the establishment of a Chinese cultural centre in Tanzania, the rehabilitation of the Abdullah Mzee Hospital in Zanzibar, and the provision of shipping container inspection equipment for the port of Zanzibar.
Serengeti National Park.
The owner of Hengxu Group of Companies which have their headquarters in Sichuan Province in China, Mr Zhou Yi, has revealed his plan to invest about $ 700 million to build luxurious accommodation facility in Serengeti National Park.
“I toured Serengeti National Park in March this year and was attracted by the beauty of the place. I have been impressed by the park and I am now willing to invest and be part of the initiative to increase the number of tourist visiting the park," he said.
He said that he is now in the initial stages of applying for an investment site in the area. “I expect to put up a modern accommodation facility that will help to increase the number of tourist beds in the park hence conducive environment for visitor to enjoy the park all night long. Zhou declared his interest before a Tanzanian delegation visiting to China. The delegation is looking for prospective investors in the tourism sector.
The team is now conducting Road Shows in Beijing, Shanghai and Guangzhou cities in a quest to lure Chinese tourists and investors to Tanzania. In Beijing, the Road-Show attracted a big number of investors who were impressed by the existing investment procedures especially in the protected areas. Some of the investors are thinking of visiting the country to have an on the spot experience of the areas before they decide to invest.
Earlier on, both Tanzanian Ambassador to China, Mr. Philip Marmo and the Deputy Permanent Secretary in the Ministry of Natural Resources and Tourism, Ms. Nuru Millao, had assured the participants that Tanzania is the best place to visit and see the natural attractions which the country is uniquely blessed with after Brazil.
The World Bank’s Chief Economist for Africa, and lead author of Africa’s Pulse, Shanta Devarajan, has revealed that the broad picture emerging from the data is that Africa’s economies have been expanding robustly and that poverty is coming down. He said in a World Bank’s latest Africa’s Pulse statement that Africa’s booming economic growth fueled by a rigorous focus on government and citizen accountability will boost poverty reduction and promote shared prosperity.
“At the same time, the aggregate numbers hide a great deal of diversity in economic growth and performance, even among Africa’s faster growers,” Devarajan adds.
The analysis shows that about 25 percent of the countries in Africa, notably, Sierra Leone, Niger, Cote d’Ivoire, Liberia, Ethiopia, Burkina Faso, and Rwanda, grew at 7 percent or higher, putting them in league with the fastest growing countries in the world.
While the new assessment finds that Africa continues to grow faster than the global average, much remains to be done to raise the quality of life for the many who live in extreme poverty. Makhtar Diop, the World Bank’s Vice President for Africa, notes that there is an enormous opportunity for energy and agricultural producing through the continent.
“Without more electricity and higher agricultural productivity, Africa’s development future cannot prosper,” Diop says. “The good news is that governments in Africa are intent on changing this.”
In Sub-Saharan Africa, the report found, economic growth remained strong at an estimated 4.7 percent. Excluding South Africa, the region’s largest economy, the remaining economies grew at a powerful 5.8 percent—higher than the developing country average of 4.9 percent.
Throughout Sub-Saharan African recent trends point to progress in the fight against income poverty. Between 1996 and 2010, the share of people living on less than $1.25-day in Sub-Saharan Africa has declined from an estimated 58 percent to 48.5 percent, according to provisional data in the report.
Like the continent’s steady economic expansion, progress on the millennium development goals varies among countries. The report notes that the progress made over the past ten years, when growth picked up, has been impressive. In fact, the region is on a trajectory to achieve the targets soon after 2015, as long as strong economic growth and a commitment to reforms remain.
CNN International and MultiChoice has officially launched the CNN MultiChoice African Journalist 2013 Awards. The awards represent the very best in journalism from across the African continent, and are truly a highlight in CNN’s editorial calendar.
“Recent audience research shows that viewing of CNN across Africa is at an all time high. Against this background, we are delighted to be a part of the CNN MultiChoice African Journalist Awards. I’m proud that they continue to grow in stature and prestige, and the 2013 competition promises to deliver another year of stellar African journalism,” Tony Maddox, Executive Vice President and Managing Director of CNN International, said.
Over the past 18 years, the competition has grown in size and status to become Africa’s most prestigious media event. In 2012, a ‘Highlights Programme’ of the ceremony, held in Lusaka, Zambia, was broadcast in 47 African countries, on the Africa Channel in the US, UK and the Caribbean and RTP Africa.
“We are honoured to once again be part of Africa’s largest and most coveted journalism awards. These Awards provide us an opportunity to showcase the continent’s journalistic talent and provide a platform to tell the African story. As an African company, we believe that our participation makes a significant contribution towards the development of media in Africa,” Nico Meyer, CEO MultiChoice Africa, said.
Kenyans Tom Mboya and Evanson Nyaga were awarded the top prize at the CNN MultiChoice African Journalist 2012 Awards ceremony. Their work ‘African Tribe in India’, which aired on Citizen TV, Kenya was chosen from among 1799 entries from 42 nations across the African continent.
This year, the competition will recognize excellence in the categories of Culture Award, Digital Platform Award,The Coca-Cola Company Economics & Business Award, Environment Award, Free Press Africa Award, Mohamed Amin Photographic Award, MSD Health & Medical Award, Print General News Award, Radio General News Award and Sport Award.
Others are Television Features Award, Television News Bulletin Award, Francophone General News Awards, and Portuguese Language General News Awards. From these category winners, an independent judging panel choose the overall winner - The CNN MultiChoice African Journalist 2013.
Finalists in the 2013 competition will participate in a finalists’ programme that will include a media forum and networking opportunities with senior journalists, editors, business leaders and media owners from across the continent, culminating in a gala awards ceremony later in the year.
All finalists receive a cash prize and each category winner also receives a laptop and printer. The CNN MultiChoice African Journalist 2013 will receive an additional cash prize and will have the opportunity to participate in the CNN Journalism Fellowship at CNN Headquarters in Atlanta.
Stanbic Bank Tanzania has successfully closed a $ 600 million amortisation private placement on behalf of the United Republic of Tanzania.
The Government of the United Republic Tanzania successfully raised $ 600 million from the international capital markets, in what is believed to be the first ever benchmark-sized private placement transaction by a sub-Saharan sovereign. The financing took the form of an unlisted and unrated seven-year floating rate instrument, the proceeds of which will be used for infrastructure projects within the country.
The capital raised is in support of Tanzania’s infrastructure development programme for the 2012/2013 budget. The capital will be used to roll out projects across several sectors, including energy, roads and rail equipment.
“Despite the Tanzanian Government being unrated, Stanbic Bank felt confident to advise the government that its aim of raising the financing for infrastructure projects which is vital to the country’s economic development that could be readily fulfilled through a well-targeted private placement note issue in the offshore markets. We opted for amortizing private placement as this means the $ 600 million is paid back in installments rather than a single large amount,” says Hon. Dr. William Mgimwa, Minister of Finance.
“We chose the private placement route as we felt it was the quickest option for the country, given that Tanzania is not yet rated and this also gave Tanzania access to a wide international investor base similar to a Eurobond,” he added.
The private placement will be repaid in nine equal biannual amortisations commencing on the third anniversary of the issue date, with a final maturity date of 8 March, 2020.
“This deal represents a milestone in our ability to advise the government on how to access funding from the capital markets. It is also vital to note that these investments in key infrastructure projects, will, over the course of their economic lives, unlock benefits that will significantly enhance Tanzania’s GDP,” commented Mr. Bashir Awale, Managing Director of Stanbic Tanzania.
Despite the unlisted and unrated nature of the transaction and a relatively soft market backdrop the book was four times over-subscribed after price guidance was released at 6m LIBOR plus 600bp.
“Given the United Republic of Tanzania’s size and timing requirements for their investment requirements in infrastructure, the solution achieved was done in an exceptionally efficient and cost effective manner for the client. We are extremely pleased to have closed such a prestigious deal as this. Stanbic Bank remains committed to supporting the United Republic of Tanzania,” says Ms. Shose Sinare, Stanbic’s Head of Corporate and Investment Banking.
Following the move by Cortec Mining Kenya, which is owned by Canadian firm Pacific Wildcat Resources, to acquire a 21-year mining license for the commercial exploration of niobium mineral at a 142-hectare site on Mrima Hill in Kwale County, Kenya is now set to become one of largest producers of the mineral in Africa.
Niobium is a rare mineral with no replacement and is used to strengthen steel. It is also used in the production of high-grade steel products such as auto mobiles, ships hulls, oil and gas transmission pipelines, large structures such as bridges, towers and buildings, and aircraft engines.
The company is set to start mining niobium mineral in Kwale County by the end of this year and about $ 90 million will be invested. It is anticipated that Kenya could have the fifth largest niobium deposit in the world.
According to David Anderson, the managing director of Cortec Mining Kenya Ltd, the company expects to begin small scale mining by the end of this year with the main mining commencing, subject to financing, by the end of 2014. “Initially we aim to produce at least a 50 per cent niobium pentoxide concentrate. This concentrate itself can be sold as it is,” he added.
It is estimated that Kenya’s deposits of niobium and other rare earths are worth over Ksh 250 billion ($ 2.9 billion). In 2011, Kenya’s mining sector grew by 13 per cent in quantity while its value increased from $ 176 million in 2010 to $ 211 million in 2011 according to the Economic Survey 2012.
Rene Meza, Vodacom Managing Director.
Vodacom Tanzania is continuously changing lives of Tanzanians. So far 222 people have scooped Tsh 310 million through the ongoing Vodacom Mahela promotion which started in February this year.
Most winners from all walks of life have applauded Vodacom, saying that the promotion has enabled them grow their businesses and their families.
Speaking during the 20th raffle draw held in Vodacom Offices in Dar es Salaam, Rene Meza, Vodacom Managing Director, said that the competition is Vodacom’s way of giving back to their customers.
“It is our constant desire to change the lives of our customers and just by looking at the reaction of our winners one can tell we have made a big impact in their lives,” said Meza.
An overwhelmed Sibamba Makura (27) from Shinyanga who won this week’s Tshs 5 million, was grateful to Vodacom for enabling him to win. “I did not dream of winning such an amount even though I continuously took part in the promotion, I just did not dream this big,” said Makura, adding that she will now expand her business.
I urge everyone to continue playing the game. It is not too late to join, you could be the winner of the 100 million which is still to be won,” she added.
There is still Tsh 151 Million more to be won by the end of this month. With the grand draw being Tsh 100 million to one lucky winner.
In the past five years, Tanzania has dithered on improving governance practices, resulting in a drop in its standing as the most attractive investment destinations in the region, the new survey says.
The recently published World Bank Doing Business 2013 report shows that Kenya and Tanzania share the same position in protection of shareholders. Their ranking was tied at 100, down from 97; Uganda’s fell to position 139 from 133 last year. The report surveyed 185 economies.
“Protecting minority investors matters for companies. Without adequate regulations, equity markets fail to develop and banks become the only source of the finance that companies need to grow, innovate, diversify and compete,” read part of the report.
The three countries have better established capital markets than Rwanda and Burundi, which were ranked 32 and 49 respectively for protecting investors. Rwanda, which has the smallest equity market in the EAC, is up from position 165 in the same period, while Burundi has improved from 147.
According to the report, Kenya and Tanzania’s ranking has fallen from 83 in 2008, while Uganda has fallen from position 122.
African Life Assurance CEO Mr. Julius Magabe (right) with Chief Financial Officer Mika Samwel when announcing 2012 financial statement before journalists at the firm's headquarter in Dar es Salaam.
African Life Assurance, the leading life insurer in Tanzania has published its financial statements for the year 2012, which shows significant growth on all key financial performance parameters. The statements show that for the year 2012, Operating Profit grew by 68% from Tshs. 1.8 billion to Tshs. 3.8 billion; Net Profit grew by 104% from Tshs. 2.57 billion to 5.2 billion. Gross written premiums grew by 29% while total assets grew by 28%.
Speaking to members of the press, African Life’s CEO Julius Magabe said “African Life Assurance places great emphasis in quality excellence in all our operations and the above performance signifies this commitment and the confidence that our stakeholders have in us, to deliver to their expectation and satisfaction”. African Life Assurance now commands a 50% life insurance market share, this increased from 47% market share position in 2011.
African Life Assurance is a specialist life assurance company which is A+ rated by the Global Credit Rating Company. It has also received best presented financial statements awards consecutively from NBAA for the last 3 years. As a member of the Sanlam Group, a large financial services company that operates in Africa, Europe, Asia, Australia and America, African Life Assurance brings to the market global expertise to compliment its local offerings.
The aim to increase the percentage of the population that have access to electricity from 14.5 % to 30 % on a national basis, and from 6.5 % to 15 % in rural areas, by 2025 is now coming into reality following the $ 122.4 million (NOK 700 million) pact between Norway and Tanzania under which Norway will provide the amount to Tanzania over a four-year period.
The fund will be managed by the Rural Energy Agency (REA). Sweden, the World Bank and the EU are also supporting the fund. Norway will now be the biggest single donor to the fund.
This funding will be channelled to a rural energy fund in Tanzania that will give people in rural areas access to electricity. Minister of International Development, Heikki Eidsvoll Holmås and Tanzanian Minister of Energy and Minerals, Sospeter Muhongo signed the agreement in Oslo on 9 April 2013.
According to Mr. Holmås the agreement between Norway and Tanzania is divided into two phases to ensure that the quality of project is as intended and that the efforts to bring energy to the rural population progress according to plan.
“Access to electricity is essential for reducing poverty and generating economic growth. Providing electricity in rural areas is a way of giving the majority of the population in Tanzania the freedom to choose not to use paraffin, diesel and other less reliable energy sources that are damaging to health. Electricity provides light for doing homework and opportunities for creating jobs and generating income, and enables health clinics to function better,” said Minister of International Development, Heikki Eidsvoll Holmås.
“Increased access to electricity is absolutely essential for ensuring equitable development in Tanzania. We will keep a close eye on the quality of individual projects, as well as making sure that necessary reforms are carried out, the Rural Energy Agency has sufficient capacity and that any threats to sustainability are addressed,” Mr. Holmås commented.
In Tanzania, eight out of ten people live in rural areas. Of these people, only 6 % have access to modern forms of energy. So far, more than 90 % of the investments in the fund have gone to expanding the electricity grid, as this is the most effective way of reaching rural areas. But the funds from Norway will also be used for local solutions enabling the production of renewable energy in areas that are not covered by the electricity grid.
Kibo Mining will soon start exploration work at its Haneti project which is located in Dodoma-Tanzania, following the formation of a joint venture with a subsidiary of Brazilian diversified metals group Votorantim, Votim Metaís Participações. The project is believed to hold substantial undeveloped resources of nickel, platinum group metals and gold.
According to the agreement, Votorantim would provide an initial £ 2.7 million (US $ 4.1 million) funding package for the work programme.
“We are pleased that the legal and administrative formalities in respect of the joint venture have finally been concluded, and we are looking forward to pursue the promising initial exploration results achieved on the Haneti properties,”said Kibo CEO, Louis Coetzee.
It is the intention of the joint venture to direct the work programme to establish a compliant mineral resource, after which it will consider the further development of the project on the merits of the exploration results.
Kibo has four other exploration projects in Tanzania apart from Haneti. These include gold projects in Morogoro and at Lake Victoria, a coal project in Rukwa, and a coal and uranium exploration project in Pinewood.
“Rukwa is substantially more advanced than Kibo's existing exploration projects, with a significant resource of thermal coal already defined,” the company said in a statement.
According to Kibo, the Rukwa and Pinewood projects are close to the Mtwara corridor, an area where the Tanzanian government has committed to significant infrastructure development.
In a move aiming at meeting fast growing demand of motorcycles in East African countries as means of public transport, the Japanese manufacturer, Honda Motor Company, is planning to use $ 5.3 million (KSh 450 million) as initial capital to open a motorcycle assembly plant in Kenya with a capacity of 25,000 units per year. The plant is to be located at Enterprise Road in Nairobi's Industrial area, and it will be the second Honda motorcycle assembly plant in Africa, after one in Nigeria.
The Japanese parent company holds 90 percent stake in Honda Motorcycle Kenya, while local businessman and environmentalist, Isaac Kalua holds 10 percent.
“Honda Kenya plant targets to have the first locally produced models by September this year. The plant will initially focus on supplying the Kenyan market, but as the capacity grows we will look to the larger East Africa market," Jerry Midiwo, the sales and marketing manager of Honda Kenya said.
He said that by 2008, the company was selling between 6,000 to 8,000 motorcycles a year, but this had grown to about 140,000 units by 2011. "The African market has been growing ten-fold, and it is the right time to invest in this market" Midiwo said.
Currently Honda does not have exclusive dealers for its motorcycles. The company is now calling for other local investors to join the distribution and the maintenance network of its motorcycle products. Areas targeted for dealership are Nairobi, Kisumu, Kisii, Kitale-Eldoret and Malindi-Mombasa.
Honda recently made a comeback in the market after seven years with a vehicle dealership arrangement with TransAfrica Motors (TAM). The vehicles franchise is supported by Honda Motor South Africa. Their model range will include the Brio, CR-V and Accord.
The Head of Retail Product Channels and Analytics, Mr. Samwel Mkuyu (First right) together with other Barclays officials showcasing the Barclays Golden Briefcase during the launch of the ‘Maisha Bomba with Barclays Golden Briefcase’ campaign.
Barclays Bank Tanzania yesterday launched its ‘Maisha Bomba with Barclays Golden Briefcase’ campaign to its existing and potential customers. The Bank will run the deposit mobilizing campaign that will give customers an opportunity to win different prizes on monthly basis for a period of three months.
Upon depositing and maintaining the threshold, every customer, new and existing, will enter into a draw where 13 customers will walk away with different prizes and the grand prize winner will walk away with Tshs 10 million. The promotion period of the campaign is from 11th April 2013 to 30th June 2013.
“Entry is open to both, existing and prospective retail customers with Barclays Bank Tanzania deposit accounts. Customers who are eligible are Retail Current and savings Account holders and will earn one entry into the draw upon uplifting their balances by at least Tshs 500, 000. The amount is only considered for the respective month for which deposit was made,” The Head of Retail Product Channels and Analytics, Mr. Samwel Mkuyu said.
He said that new customers will get entries upon depositing and maintaining Tshs 500,000 for the month. Both existing and new customers will get the bonus entry for each additional Tshs 500,000 deposited and maintained in the particular month. “At the end of each month, draw will be conducted for all qualifying customers where 13 winners will be selected. Each selected winner will pick a briefcase of their choice and open to see their prizes,” he said.
According to Mr. Kitoi, the briefcase will contain a single item like iPad, shopping vouchers worth Tshs 200,000 each, Washing machine and Home theatre. “Grand prize will be presented in Barclays golden briefcase at the end of the campaign period,” he said.
Barclays is a major global financial services provider engaged in personal banking credit cards, corporate and investment banking and wealth and investment management .With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 140,000 people. Barclays moves, lends, inverts and protects money for customers and clients worldwide.
Tanga cement factory.
As a result of export sales that rose by 55 per cent last year, TANGA Cement has recorded a 21 percent growth in sales volume to Tshs 257.92 billion with pre-tax profit increasing to Tshs 55.93 billion from Tshs 37.08 billion.
The sales volume increase marks a significant milestone for Simba Cement, being the first time the company sold over one million tonnes of cement in one year," Tanga Cement acting Chairman, Professor Samuel Wangwe, said in a statement in Dar es Salaam.
The company has also recorded an historic sale in a single year after it managed to sell over one million tonnes of cement last year, pushing up its net profit by 52 percent.
"Sales increment and reduction on maintenance costs was partly responsible for the 26 percent increase in the company's gross profit for the year. The overhead costs were strictly controlled; the company's operation profit for the year increased by 34 per cent," Prof. Wangwe said, adding that “the improved supply of electricity as compared to last year's also contributed to the cement manufacturer's profitability.”
The costs also subdued following the fact that the firm used merely 1.91 percent of own power generation compared to 6.9 percent of 2011. However, the transport costs declined as a result of 50 percent reduction railway services available.
"This substantially increased distribution costs as the company had to rely on road transport increased," Prof. Wangwe said.
Tanga Cement is listed on the Dar es Salaam Stock Exchange where it trades as Simba, with its share price stagnating at Tshs 2,400 since the beginning of this year.
The announced financial performance is likely to push up the stock value. "The board recommends a final dividend of Tshs 55 per share, bringing to Tshs100 the accumulated dividend for the year compared to Tshs 86 of 2011," said Prof. Wangwe.
The board of directors has approved the construction of the second clinker at the factory mid this year to increase output in the years ahead and meet demand, getting rid of imports. The project, scheduled to be completed in 2015, will increase clinker production capability by 600,000 tons per year, more than double the current capacity.
Director of Information, Communication and Technology in the Ministry of Communications, Science and Technology, Dr. Zaipuna Yonah, has revealed that lack of proper IT controls is contributing to loss of revenues to the Tanzania Revenue Authority (TRA) through the electronic credit payment system.
He said that Tanzania is still lacking laws to govern cyber security necessary for prosecuting manipulators of IT operations. "There are ongoing technical preparations for the enactment of the law expected to be finalised before the end of the year,” He said during the Press briefing ahead of a two-day summit East Africa Banking and IT Security slated for April 24 and 25, this year.
During the press briefing, the Alliance Manager, Cyber Security Africa, Sammy Kioko, said that most financial institutions and public organisations are facing massive losses in the East and Central African Region following the ongoing security threats which have remained a serious challenge up to now.
He said that according to the survey conducted in Tanzania, Rwanda, Uganda, Kenya and Zambia last year, the surging threats like hacking, malicious insiders, card skimming, electronic files manipulation, IT controls circumvention, unauthorised penetration and careless employees are common.
The meeting comes at a time when system improvements adopted by organisations in the Eastern, Central and the Horn of Africa have proven futile as fraudsters have in recent years siphoned large sums of money from banks.
Some of the key issues to be discussed include the IT security threats, fraud, risk and regulatory matters affecting financial institutions, public and private organisations in their daily operations.
"The two day event will help players in the financial sectors, public agencies and other organisations to identify the technical, environmental and business risks that could lead to service vulnerability, weak consumer confidence and ultimately brand damage and serious revenue decline," Mr. Kioko said.
Excited to provide new choices to meet consumers' varying lifestyles, while maintaining the high-quality features of the award-winning Galaxy series, Samsung Electronics has shown off a new 6.3-inch tablet...smartphone hybrid -- the Galaxy Mega.
According to JK Shin, CEO and Head of IT & Mobile Business, Samsung Electronics, the new "phablet" offers a mix of smartphone and tablet features such as split screen, multitasking between video and other apps and more.
"We are aware of a great potential in the bigger screen for extensive viewing multimedia, web browsing, and more. We are excited to provide another choice to meet our consumers' varying lifestyles,” he said.
He said that with the 'Air View' feature, customers can preview information in emails, photos in Gallery, and speed dial contacts.Split screen capability for a variety of applications including email, messages, 'MyFiles,' 'S Memo,' 'S Planner', and more, makes for increased efficiency.
The Galaxy Mega is equipped with an enhanced 8 megapixel rear-facing camera with a 1.9 megapixel front-facing camera, along with a variety of camera modes.
The company is also launching a 5.8-inch version of the same device. Both Galaxy Mega 6.3 and 5.8 run on the latest Android 4.2 Jelly Bean, and feature Dual Core Processor, internal storage along with up to 64GB of expandable memory. Both devices will be available globally beginning May from Europe and Russia.
Samsung executive has revealed that the company has been working on wearable devices that act like smartphones, a move signalling stiff competition with Apple, which is also itching to get its hands on the wristwatch market.
"We've been preparing the watch product for so long. We are working very hard to get ready for it. We are preparing products for the future, and the watch is definitely one of them." Lee Young Hee, executive vice president of Samsung's mobile business, said.
The South Korean electronics giant already has a pretty active product release calendar scheduled for 2013, with three high-end smartphones expected to ratchet up its competition with rival Apple. Lee offered no specifics when it came to features, price, or target release date.
The disclosure comes after reports last month that Apple already has a team of 100 people working on a rumored smart wristwatch, sometimes called "iWatch," including some prominent Apple employees. Key members of the team are said to include James Foster, Apple's senior director of engineering, and Achim Pantfoerder, a program manager who is credited with 13 Apple patents, including an electronic sighting compass and ambient light sensor.
Other reports have it that Apple is experimenting wristwatch devices that sported curved glass. However, a team of this size and with such prominent membership suggests the company might be farther ahead than the experimental phase.
Apple itself even encouraged wearing previous versions of the iPad Nano on wrists in 2011, with manufacturers selling watchbands that could be attached to the Nano to wear it as a wristwatch.
Zanzibar is set to use $ 50 million from Millennium Challenge Corporation (MCC) for completion of installation of 100MW submarine transmission cable which cover 36-killimetre from the mainland to the Island of Unguja. The fund will also cover the construction of substations and overhead lines to evacuate and distribute the power in Zanzibar.
“Every Zanzibari realizes the importance of an adequate and reliable power supply for this island. It is not only an essential foundation for economic growth and prosperity but it is fundamental to the very health and well being of every resident of Zanzibar,” MCC’s Chief Executive Officer, Daniel Yohannes told President Jakaya Kikwete on Monday.
For the past five years Tanzania and MCC have partnered to complete the projects that make up over $ 698 million. These projects are expected to reduce poverty through economic growth by investing in three key sectors: transportation, water and energy. “September will mark the official completion of Tanzania’s MCC compact and I have returned ahead of that important date to celebrate the progress that has been made,” he said.
In addition to the Zanzibar cable, the MCC has invested nearly $ 130 million to rehabilitate existing electricity distribution infrastructure for unserved areas in seven mainland regions.
This activity is addressing the growing demand and the corresponding strain on the network to deliver reliable and quality power to industrial and commercial users, as well as to households in these regions.
An American company, Pike Electric, completed the Dodoma work in late 2012 with 800 kms of power lines, 12,000 utility poles and 84 transformers installed in the region. The MCC Compact’s transport sector project will rehabilitate and upgrade over 400 kms of trunk roads in mainland Tanzania, as well as 35 kms of rural roads on the Island of Pemba in Zanzibar.
President Kikwete, Ambassador Lenhardt and Yohannes laid the foundation stone in Tanga to commemorate the beginning of construction in May 2010.
The five-year $ 698 million Agreement between Tanzania and USA was signed in February 17, 2008. The Compact will end in September 17, 2013 and as it enters the final months of implementation several major activities have been completed and others are nearing completion.
Hon. Margaret Nntongwa Zziwa handling the East African community Flag to AAR Holding Board Chairman Mr. Frank Nnjenga during the launching of AAR Arusha Health Center.
AAR Tanzania Ltd is in a plan to launch another three clinics in Tanzania before the end of 2013. The move has come few days after the launches of a new health center in Arusha. The speaker of the East Africa legislative assembly, Mrs. Zziwa officiated the launch.
The Arusha center is the 22nd clinic by AAR in East Africa and the 3rd health center in Tanzania. The centre is located at Phillips- Impala Road.
“Sustainable health delivery systems are paramount to the achievement of Millennium Development Goals (MDGs) by the East African Community that without them and affordable health delivery systems, meeting the MDGs goals will only remain to be a dream.”
The opening of AAR Arusha health Center is for the purpose of providing a quality and affordable medical care not only to Arusha community members but also to all Arusha visitors as the clinic has full capacity of attending more than 100 patients a day.
“What AAR has done here today is commendable and I would like to urge the private sector to continue to invest in high quality health services that are affordable so as to compliment the efforts being put by our development partners and our governments to improve the health care delivery systems and health financing in our region” Concluded Mrs. Zziwa.
The Launching ceremonies of AAR Arusha Clinic Centers was attended by several important people with impact in promoting health services in Tanzania and East Africa at Large such as Regional Medical Officer, Dr. Maryam Murtadha, Regional Commissioner, Hon. Magessa Mulongo and East, Central and Southern Africa Health Community Representatives.
Mantra Tanzania, a subsidiary of Australian company, Mantra Resources, is currently working on the transaction of about $ 1 million to pay the government of Tanzania for the Mkuju River mining licence to be officially released. Mkuju River has become the first uranium mine to receive a licence from the ministry of Energy and Minerals.
According to Mantra Tanzania Limited Managing Director, Asa Mwaipopo, official issuance of the licence for uranium mining will be done soon, pending a few legal obligations to be finalised. “Preparations for mining are already done, noting that the company would make an elaborate statement later this year,” he said.
The company plans to foresee production of 14,000 tU per year from the project. Unesco’s World Heritage Committee (WHC) agreed to excise the area required for mining from the Selous Game Reserve in mid 2012.
Mkuju River is to be operated by Uranium One, the Canadian-based uranium producer recently acquired by ARMZ.
Uranium One president Vadim Zhivov described the award of the licence as a “real breakthrough” after two years of work to secure the necessary approvals in accordance with the new Tanzania mining legislation.
He described the completion of the licensing process and the start of plant construction as an ‘important event’ for Russian integrated state nuclear corporation Rosatom.
Mkuju River, in Namtumbo District of southern Tanzania, has measured and indicated resources of 36,000 tU as well as inferred resources of 10,000 tU.
The special mining licence has been granted to Mantra Tanzania, a subsidiary of Australian company Mantra Resources, which was acquired by Russian uranium company AtomRedMetZoloto (ARMZ) in 2012.
ARMZ acquired 100% of in June 2011. Following this acquisition, it became the operator of the Mkuju River Project, and acquired a 13.9% stake in the project in March 2012.
At the end of Sept. 2011, the measured and indicated resources of Mkuju River Project amounted to 35,888 tonnes of uranium with 10,041 tonnes of the radioactive metal reported in the inferred category. Average grade is 0.024-0.025% of uranium.
UNESCO approved excision of the proposed Mkuju River’s uranium mine site from the Selous Game Reserve in mid-2012.
One of the fast growing banks in Tanzania, Bank M (Tanzania) Limited, has shown a noteworthy increase in total deposits which reached Tshs 399.92 billion by the end of the quarter ending March 2013, as against Tshs 349.68 billion as at the end of December 2012. This is a clear indication of sustained customer confidence in the bank.
According to the recently released financial statements, the net interest income has risen by 41 percent to Tshs 6.62 billion compared to Tshs 4.71 billion of the same quarter last year while non-interest income has also jumped to Tshs 3.45 billion from Tshs 2.72 billion of same quarter of 2011.
“We are really pleased with the performance of our bank in the first quarter and like the other previous quarters and years, this has been possible on account of our ability to successfully execute our strategy,” Jacqueline Woiso, the bank’s Deputy CEO commented said.
This outstanding performance of the bank in all aspects of banking has enabled the bank to grow quickly and earn its place among the top ten banks in the country. “The performance also gives confidence in our ability to continue the past performance trend and aim to scale greater heights in the years to come,” she said.
Along with the growth in deposits, the loan portfolio of the bank also grew from Tshs 319.81 billion at the end of the previous quarter to Tshs 346.96 billion at the end of first quarter of this year.
The bank, in its sixth year of operation, has clocked a profit before tax of Tshs 4.27 billion which is an increase by over 25 percent as compared to same quarter previous year. The profit before tax during the quarter is almost matching the full year pre-tax profit posted in 2010 of Tshs 4.69 billion and about half of the profit of Tshs 9 billion generated in 2011.
Ms. Woiso further said that along with the robust growth in the loan book, the bank has maintained its strong asset quality and as the just released financial statements indicates, the bank’s NPL ratio has gone further down from 1.8 percent as at the end of December, 2012 to 1.3 percent as at the end of March, 2013.
The bank’s loan portfolio continued to be spread across all the sectors of the economy with manufacturing topping at 23 percent, followed by trade 21 percent, construction and engineering 14 percent, real estate 12 percent and agriculture and rural development sectors at 8 percent of the loan portfolio.
Having vehicle inspectors in various countries like Japan and Dubai which are among major points of origin for imported vehicles, Tanzania Bureau of Standard (TBS) is in a plan to appoint an inspection partners in the UK which also ships a substantial number of vehicles into the country.
According to the TBS Acting Director General, Mr. Joseph Masikitiko, tendering arrangements are in the final stages to station an inspector in the UK by late this month if all goes well.
Early this week, TBS signed a Memorandum of Understanding with the National Institute of Transport (NIT) to start inspection of imported used motor vehicles. The arrangement will facilitate smooth inspection of vehicles using state-of-the-art equipment and machinery owned by NIT. "We have decided to involve NIT because they have modern inspection equipment and experts. We have also spoken to the Tanzania Ports Authority for the allocation of space and other facilities ready for the exercise scheduled to start in the next two months," he said.
However, Mr. Masikitiko cautioned that inspection of used vehicles in Dar es Salaam will not have the desired effect, if the same would be shipped through Zanzibar unchecked.
To address the matter, a team of experts from TBS is soon heading to Zanzibar to hold talks with Zanzibar Bureau of Standards (ZBS) to see how a joint strategy can be put in place to monitor goods entering the Mainland, including vehicles, can be monitored. "We have formed a close partnership with ZBS which is still new on how we can address the issue of substandard goods entering through Zanzibar and the way forward," he said.
For years, Zanzibar has been used as an unofficial route of many substandard goods with recent investigations revealing about 32 routes and the establishment of ZBS aims at curbing the problem. The plan to use NIT to inspect used vehicles comes as the government plans to draw more attention to the Destination Inspection of imported goods along with revisiting the Pre-shipment Verification of Conformity to Standards (PVoC) system.
Records from TBS and the Tanzania Revenue Authority show that between July and December last year about 10,000 vehicles were imported from Japan, 900 from Dubai and 1,200 from the UK. As the volume of used vehicles being imported is increasing, according to Mr. Masikitiko, there is an urgent need to intensify Destination Inspection (DI) to ensure quality.
Mr. Sabasaba Moshingi, Chief Executive Officer of TPB.
The Tanzania Postal Bank (TPB) has reported that effective management strategies and the introduction of new products in the market has accelerated to an increase of 48 percent of a profit before tax, which is equivalent to of Tsh 5.6 billion in 2012. Profit before tax for the year 2011 was Sh 3.8 billion.
According to the bank’s chief executive officer, Mr Sabasaba Moshingi, the revenue rose to Sh 31 billion in 2012 from Sh 24.6 billion in 2011 while the number of customers increased 631,000 in 2012 from 602,000 the previous year. The lending portfolio jumped to Sh 100 billion from Sh 66 billion during the same period.
“The future is bright as we are planning to expand to the rural by fully utilizing mobile banking (TPB Popote) and POS (Point of Sale) technologies as well as other agencies such as M-Pesa, Airtel Money, Tigo Pesa and postal offices,” said Mr. Moshingi.
He said that the management also plans to continue with renovating our branches, improve efficiency and effectively utilise TPB Popote.
The South African bank, Absa Group Ltd which is in a deal to buy most of Barclays Plc (BARC)’s African assets, said it expects to complete the deal by September after regulatory delays.
According to Maria Ramos, chief executive officer of Absa Group Ltd, if any of Barclays’s assets in Seychelles, Tanzania, Uganda and Zambia are not transferred by the time the deal is ready to conclude, they may still be transferred at a later date. Alternatively, if the deadlines set are not met, both banks have the right to terminate the agreement, according to the circular.
She said that the Kenya, Botswana, Ghana and Mauritius still need to approve the transaction. “We’re still hoping that the deal will conclude in the first half of the year, but it’s a stretch. We’re still confident we will conclude in the timelines allowed by the sales and purchase agreement, which is 90 days after June 6.”
Barclays and Absa said on April 5 that the deal, which involves the South African bank offering 18.3 billion rand ($ 2.05 billion) in shares for the bulk of Barclays’ African operations, was delayed, without specifying a time frame.
The British bank, which first bought an Absa stake in 2005, will see its holding increase to 62.3 percent from 55.5 percent with Absa initially scheduled to change its name to Barclays Africa Group Ltd.
Barclays has surged 21 percent since the transaction was announced and is the second best-performing stock on the six- member FTSE 350 Banks Index this year. Absa fell 5.8 percent this year, the most of South Africa’s four largest banks as profit dropped.
Mr. Diego Gutierrez, General Manager of Tigo.
Tigo Tanzania has announced plans to invest in network expansion to enhance the quality and coverage of its service across the country. The expansion will also see the deployment of new high tech network infrastructure in remote areas, bringing coverage to tens of thousands people.
The new sites will be located across the country; however, the project will start with areas such as Mwanza, Tabora, Kigoma, Mara and Kagera.
“Tigo Tanzania has grown tremendously over the past years. Our innovative products and services together with our ever-growing number of customers is a true testament of this growth. The launch of these new sites will go a long way in facilitating more innovation for all our customers and take the quality of the services and products we offer to a new level. This is at the core of what drives us as a leading mobile cellular network company in Tanzania,” Tigo’s General Manager, Mr. Diego Gutierrez said.
He further said that, with an already strong network presence in numerous regions in the Mainland and Zanzibar, this massive network expansion aims at covering more regions across the country. It will improve network quality within existing network coverage to ensure more stable connections and provide Internet browsing whilst at the same time taking network to new areas such as the outskirts of Tanzania, enabling new customers to connect with the rest of the world and be part of the larger cellular network community.
“Looking at the bright future of the telecommunication industry, we saw the need to further expand and enhance our network’s coverage and reception quality. The launch of these new sites will enable us to expand our reach in these new areas, with our existing and potential customers as our focus.” added Mr. Gutierrez.
In a recent report revealed by the Tanzania Communication Regulatory Authority (TCRA) quarterly telecom statistics for September 2012, Tigo Tanzania‘s customer base grew by 20% between the end June 2012 and September 30, 2012 with 630,000 customers reported. With these expansion plans, further growth is now greatly anticipated for 2013.
Tanzania has recorded a decline in annual inflation rate, which excludes food and energy for the month of March. The inflation declined to 5.9 percent in March from 6.7 per cent recorded in February, National Bureau of Statistics (NBS) has revealed.
According to NBS Director of Population Census and Social statistics, Mr. Ephraim Kwesigabo, food and non-alcoholic beverages inflation rate has slightly decreased to 11.1 percent in March from 12 percent posted in February 2013.
Annual inflation rate in food consumed at home and away from home has declined to 10.7 percent in March as compared to 11.7 percent in the same period.
The 12 month-index change for non-food products has slightly increased to 8.5 percent in March from 8.4 percent. Annual rate for energy went down by 22.6 percent in March compared to 18.3 percent in February.
The monthly headline inflation rate for March, 2013 increased by 0.5 percent compared to 1.4 percent posted in February.
“The rate of prices of goods and services has slowed down to a 21-month low record of 9.8 percent in March this year. Inflation reached double-digit levels in June 2011 when it was recorded at 10.9 percent from 9.7 percent in May 2011, due to increasing prices of food, fuel and other non-food products” Mr. Kwesigabo said.
He said that inflation is once again in single-digit levels, having dropped further from the February 2013 level of 10.4 percent due to reduced food prices. “The decrease is mainly on account of the government’s effort to ensure that food prices are dropping.”
Analysts said, a lower inflation rate pushes up the purchasing power of the local currency. It also helps to bring down the lending interest rates by captains and titans in the financial sector since, hoping that all other factors remain constant, the higher the inflation, the higher the interest a financial institution will charge.
Ms. Janet Reuben-Lekashingo.
African Barrick Gold (ABG) has appointed Janet Reuben-Lekashingo as the Organizational Effectiveness Director of ABG. Janet assumed her position effectively from 1st April 2013, making her one of the most senior Tanzanians in the mining industry.
Her main duties will be to work with the team to lead evolution of the human resources function to Employee Effectiveness Management, ensuring that ABG has all organizational conditions required to utilize the available workforce at their full potential and effectively ensure all the control mechanisms for monitoring the effectiveness of the employee utilization are in place.
Her last appointment in ABG was Corporate Human Resources Manager, where her main responsibilities included Talent Management and Learning & Development and advising ABG's mine sites on Human Resources related processes.
Janet joined ABG as the Human Resources Manager for the Dar es Salaam office and working with specific projects with the mine sites in October 2008. She has worked in different capacities within the Human Resources Function in the company.
Prior to joining ABG, she was the Human Resources Manager for AngloGold Ashanti’s Geita Gold Mine where she started her mining industry career after spending 5 years in the aviation industry.
Janet has a Masters Degree in Arts from the University of Dar es Salaam and a Post Graduate Diploma in Management from the Graduate School of Business at the University of Cape Town.
She is a member of the Society for Human Resource Management (SHRM) as well as an affiliate member of the Chartered Institute of Personnel and Development (CIPD).
Janet was a Board member of the Association of Tanzanian Employers (ATE) for the past six years and is currently a Board Member of the Tanzanian Wage Board.
Obtala Resources, an African focused strategic investment company, which recently offloaded the majority of its shareholding in Bushveld Minerals for £ 13 million ($ 16.9 million), will use the funds to develop both the forestry and agricultural assets in Tanzania and Mozambique to generate potentially significant revenue and profit streams.
According to Francesco Scolaro, Obtala’s chairman, the company is committed to establish horticultural business farming at its recently acquired Magole Farm near Morogoro in Tanzania, saying that the 2013 logging season has also officially opened in Mozambique and the company has re-started the manufacturing of wooden railway sleepers for a private Mozambique registered company.
"In spite of recent share price drops, I am extremely encouraged with the progress our company continues to deliver both in Mozambique and Tanzania. Our group of companies remain debt free and we intend to use this funding to continue our move towards building a cash generating, highly attractive margin producing businesses,” he said.
The company has also raised £ 295,000 ($ 385,028) after issuing new shares in another boost to its development plans to invest in Tanzania and Mozambique. The company has issued 4.38 million new shares at 6.75 pence each; trading in the newly issued shares which started trading on April 9.
A hydrogeology survey has been completed with water well drilling expected to commence in the next ten days. The objective of building a sun-dried tomato enterprise remains on course with initial product expected in the third quarter of 2013.
The company, which invests in and develops natural resources in Africa, has said that the first issue of around 4.37 million shares at 14.85 pence raised £ 650,000 ($ 848,367) for Obtala, with one more instalment still to come.
Discussions are currently in progress with two buyers operating in Europe and North America. Predictive yields of the final dried product are expected to be in the order of ten tonnes per hectare, with a total of ten hectares harvested monthly on a rotation basis once the project is operating at full capacity.
The Rockefeller Foundation and the Tony Elumelu Foundation have launched the Impact Economy Innovation Fund in Cape Town, South Africa during the ‘Impact Investing in Africa: Accelerating the Industry Regionally’ Forum.
The event provided a platform to introduce the investment and entrepreneurial community from all over Africa to the concept and practice of impact investing. During the event, participants developed a better understanding of the barriers to and opportunities for unlocking greater investment capital for impact at scale, while strengthening the sector’s entrepreneurial talent and African ecosystem.
“Throughout its 100 year history, the Rockefeller Foundation has worked to enhance the impact of innovative thinkers and actors. Now, during our Centennial year, our work is helping to accelerate the growth of the impact investing industry in Africa as we partner with organizations that are at the forefront helping to achieve equitable growth for all, such as the Tony Elumelu Foundation and the Bertha Centre for Social Innovation and Entrepreneurship,” said Eme Essien Lore, Acting Managing Director at the Rockefeller Foundation.
On his part, Dr. François Bonnici, Director of the Bertha Centre at the UCT Graduate School of Business said, “We are conducting research on impact investing in South Africa to provide an annual barometer to track the trends and practices in the sector. With the support of The Rockefeller Foundation and The Tony Elumelu Foundation, the possibilities for impact investing in Africa are considerable.”
The IEIF will fund proposals geared toward projects that seek to enable capital solutions, foster entrepreneurial ecosystems and promote impact investing industry infrastructure – ultimately aimed at impacting the lives of poor or vulnerable people throughout Africa.
“Impact Investing is a critical tool in driving our agenda of promoting entrepreneurship for lasting economic and social development in Africa. We want to see more deals of this nature and our commitment to support this new fund is just the beginning,” said Dr. Wiebe Boer, CEO of the Tony Elumelu Foundation.
The IEIF will be managed by The Global Impact Investing Network (GIIN) in close collaboration with The Tony Elumelu Foundation and The Rockefeller Foundation. A Request for Proposals (RFP) has been issued, calling for submissions to the IEIF that align with the Fund’s objective of boosting the development of robust regional markets.
Mr. Henry Kitillya TRA’s Commissioner General.
In its endeavor to address the growing tax abjections and appeals challenges and intergrity of staff in handling tax matters, Tanzania Revenue Authority (TRA) is contemplating to introduce Taxpayer Advocacy Services (TAS) which will be a neutral voice for taxpayers in resolving their grievances outside the legal system.
According to TRA Commissioner General Mr. Henry Kitillya, TAS will be administered by external stakeholders for credibility and independence purposes.
“The main objective for the establishment of TAS is to provide an assistant to taxpayers who have experienced a longstanding or recurrent problems with TRA. It will be a natural voice for and liaison between taxpayers and the government,” said Mr. Kitillya in a statement.
He said that the introduction of the system will help to identify issues that creates problems for taxpayers and bring them to the attention of the management and offer suggestions addressing administrative, ethical, policy and legal proposals.
The system will also lead to transparent and effecient system of tax administration with zero tolerance for laxity and unethical staff.
Accordingly, the authority has engaged a TAS Consultant from her Majesty Revenue and Custom Office (HMRC) from the United Kingdom to conduct an independent study and recommend whether TAS should or should not be established in Tanzania.
The authority is also calling for local and international stakeholders to send their comments and suggestion related to handling of tax assessment objections and appeals as well as commenting on whether or not TAS should be established in the country.
In a move to implement part of the 16 airports identified in the 25years of National Development plan (NDP), Tanzania is now looking for the eligible firm to undertake feasibility study and detailed engineering design including preparations of tender documents for eleven airports.
According to the document from Tanzania Airport authority (TAA) available to Corporate Digest, the government will use part of the credits received from IDA to implement the feasibility study and detailed engineering design of the project which covers Mtwara, Lake Manyara, Musoma, Iringa, Tanga, Songea, Kilwa Masoko, lindi, Moshi, Njombe and Singida Airports.
“NDP have prioritized among others tourism, agriculture and mining as economic drivers facilitated by the transport sector to realize and achieve the benefits at a greater pace,” read part of the report.
Local and international eligible firms have now been invited by the TAA to venture in the undertaking. “The consultant shall also carry out review of the current Airport Masterplan for Mtwara Airport whereas for the other ten (10) airports shall summarize all proposed development activities and map them into airport layout taking into consideration the linkage of various airports sub systems,” says the report.
The report further says the planning horizon of the development activities to be mapped in the layout shall be twenty years.
Short-listing and final selection of consultants will be in accordance with the procedures set under the World Bank Guidelines: Selection and Employment of Consultants by World Bank Borrowers, May 2004, revised October 1, 2006.
THE Governments of Tanzania and Kenya have eventually finalized the process of uplifting the Kenyan Government Policy which banned importation of cut flowers from Tanzania to Kenya for export to Europe and other countries.
“We are very pleased to inform you that the governments of Tanzania and Kenya have at last finalized the process of uplifting the Kenyan Government Policy which banned importation of cut flowers from Tanzania to Kenya for export to Europe and other countries,” The Executive Director for Tanzania Horticulture Association (TAHA), Ms. Jacqueline Mkindi has recently told Corporate Digest through wire communication.
She further said that TAHA took up this challenge and engaged with the respective Authorities, and as a result, a Memorandum of understanding (MoU) to end this challenge was signed on 25th March, 2013. “Signing of the pact provides for an end to Kenya’s ban of importation of cut flower from Tanzania,” she stressed.
The Agreement was signed by Kenya Plant Health Inspectorate Services on behalf of the Kenyan Government and the Ministry of Agriculture’s Plant Health Services Section on behalf of the Government of Tanzania.
The ban was ratified in May, 2012 following the widespread of pests. The Signing of the MoU followed the completion of Pest Risk Analysis (PRA) by Kenya Plant Health Inspectorate Services (KEPHIS) which concluded that, the importation of cut flowers from Tanzania may be permitted, provided that Tanzania meets the requirements provided in the MoU aiming at minimizing pest risks.
According to Ms. Mkindi there are about 11 pests which have been officially controlled.
“We (TAHA) wish to thank the Government of The United Republic of Tanzania for its understanding on this critical challenge and considering TAHA requests and proposals towards abolition of the ban. TAHA specifically thank the Ministry of East African Cooperation for coordinating the consultative meetings and the Ministry of Agriculture Food Security & Cooperatives for working on and signing the MoU,” she concluded.
Having looked into the various types of risks and fraud that are till rooting in the society, First National Bank has come up with the solution by introducing the latest ATM technology that will be installed in different part of Dar es Salaam.
“We are in a move to offer the most secure ATM technology and security system that meet both our customers’ expectation and address the security issues facing the industry,” Andy Watkins Head of Operations at First National Bank said.
According to Watkins, the bank brings in the latest ATM technology that is fast, secure and easy to operate. “We have strategically selected convenient locations to deploy the VISA enabled ATM’s that will allow customers to withdraw at any time of the day, all year long,” he said.
He said that the bank’ strategy is to bring banking services to its customers, and the wider footprint across Dar es Salaam and ensure that customers are able to easily and conveniently access the available services.
“This service is in addition to VISA debit cards, cell phone and online banking which allow our customers to view balances, pay accounts, draw cash or purchase airtime,” said Watkins.
In Africa, First National Bank has been operating in sub-Saharan countries as a leader in providing innovative solution in banking sector. FNB has a vision of becoming Africa’s preferred financial services provider of choice. Currently, FNB has subsidiaries in Zambia, Mozambique, Lesotho Swaziland, Botswana and Namibia, with its Head office in South Africa.
The bank offers a diverse set of financial products and services to the consumer, SME, Commercial and Corporate markets.
Standard Bank Group, Africa’s largest bank by assets, has walked away with 11 acccolades at the 2013 EMEA Finance Achievements Awards, including being named best merger and acquisition (M&A) house, best securitisation house and best syndicated loan house in Africa.
“Standard Bank has a clear, strategic focus on Africa and these awards demonstrate our desire to provide excellent service to our clients as we work towards the development of the continent we call home,” Mr. David Munro, Chief Executive of Standard Bank Corporate and Investment Banking said.
This is the sixth consecutive year that Standard Bank has received multiple awards from EMEA Finance, which continue to recognise the group’s leading position in the African capital markets. EMEA Finance is a leading bimonthly global industry publication that reports on the major financial events and happenings initiated and influenced by the international financial industry active in Europe, Middle East, and Africa (the EMEA region).
“Our bank’s deal-making teams across the continent have helped to structure and deliver these transactions for African companies and sovereigns. Leveraging our global footprint, expertise, experience and on-the-ground presence enables us to work with our clients to help them deliver their strategic goals,” he said.
Some of the notable transactions for which EMEA Finance recognized Standard Bank in 2013 were the group’s work on Tiger Brands’ acquisition of 63.35% of Nigeria’s Dangote Flour Mills and China’s Jinchuan Group’s US $ 1.3 billion acquisition of JSE listed copper miner Metorex in 2012.
Standard Bank was recognized for being the best syndicated loan house in Africa largely because of facilitating the raising of a US $ 600 million two-year term loan on behalf of the Kenyan government.
The group was also recognised in the categories of the best sovereign syndicated loan for taking part in Kenya’s US $ 600 million capital raising, best supranational syndicated loan for its part in Afreximbank’s US $ 500 millon, five-year Eurobond issuance, best M&A deal in Africa for Tiger Brands’ acquisition of Dangote Flour Mills, best corporate bond in Africa for facilitating JD Group’s issue, best IPO in Africa for the listing of Ugandan power distributor Umeme Limited's shares on the Nairobi Securities Exchange, best follow-on funding in Africa for Dangote Flour Mills of Nigeria, and best securitisation deal in the EMEA region for SA Home Loans’ recapitalisation.
Over the years, Standard Bank has built strong in-country advisory capabilities in a number of key global markets, including South Africa, Nigeria, Kenya, Ghana, Mozambique, China and London, delivering a full range of corporate and investment banking services to clients across various emerging markets. The bank’s strategy is to remain committed to Africa, with a particular focus on natural resources and infrastructure.
The latest EMEA Finance Achievement awards add to Standard Bank Group’s list of accolades already received so far in 2013. These include winning: the African Deal of the Year award for Konkola Copper Mines financing in recognised in the 2013 Project Finance Deal of the Year Awards; Commercial Deal of the Year in the 2013 Trade & Forfaiting Review Deals of the Year for arranging finance for commodities trader Export Trading Group; and being named Best Trade Finance Bank in Africa by Global Finance.
Masoud Said (Centre), a resident of Mbeya, receiving a sum of Tshs 10,000,000 after being awarded by DSTV during the weekly DSTV Rewards. DSTV have been conducting special draws every week to its customers who do pay their accounts before disconnection. Left is MultiChoice Tanzania Marketing Manager Ms. Furaha Samalu and the Finance Manager Mr. Francis Senguji (Right).
Vodacom Tanzania Value Added Manager Benjamin Michael (L) conducts the 20th raffle draw of Vodacom Mahela promotion in Dar es Salaam recently. Supervising the draw is the Gaming Board of Tanzania Inspector, Chiku Saleh.
THE government has been urged to put more effort in providing training on 3G technology across the country.
This has been revealed by residents of Dar es Salaam during the ongoing Vodacom 3G Roll out Campaign, who argued that training in telecommunications technology is important to Tanzanians for it will shape the future of the country.
“The world is changing rapidly and we have to be part of this change, without this the future of our country is not certain. Most of us cannot afford going back to school to study technology but the Government and telecom firms can support us with some knowledge that will enable us run our day to day lives,” said Wenselaus Agola, a resident of Mbezi Kimara, Dar es Salaam.
He said that Tanzania may lose a lot in technology improvement compared to other African countries due to lack of knowledge on this particular subject.
Vodacom Tanzania is the first operator to extend these services to its customers after investing more than Tshs 250 billion on additional 3G base stations as well as improving the existing networks.
Another resident of Mtoni kwa Aziz Ally, Mr. Jamal Abdallah, said that as days go by, there is a possibility of large groups of people in the country, especially those from rural areas and some in urban areas, being isolated from technological developments due to lack of understanding and therefore fail to participate in the building of their nation’s economy.
Moreover, he commended Vodacom for promoting the lives of its customers, especially through the M-Pesa service and some other improvements done towards its base stations.
Vodacom recently launched Long Term Evolution (LTE) in Tanzania and is the first company in the telecommunication industry to launch this service. It is with this launch that the company is conducting public awareness campaign aimed at educating the public on the benefits of 3G technology, collecting customer opinions, and providing technical advice to customers on how to effectively use packages available on the network according to recent changes that have been brought by the new technology.
The Economic Report on Africa 2013 shows that Rwanda had the strongest economic growth rate in the region at 7.9 per cent in 2012, followed by Tanzania, which maintained a rate of 6.8 per cent, owing to prudent fiscal and monetary policies. Kenya’s growth rate rose to 4.8 per cent in 2012 from 4.4 per cent, largely aided by robust domestic demand, strong services, increased government expenditure and sound monetary policies.
“Greater post-election certainty is required for markets to rally in Kenya,” said Razia Khan, regional head of research for Africa at Standard Chartered.
According to the report, East Africa's economic growth slipped to 5.6 per cent in 2012 from 6.3 per cent in 2011, although most partner states performed well in 2012, buoyed by a recovery in agriculture, vibrant domestic demand and expansion in services.
Rwanda is ranked fifth among the top performers in the annual average growth rates while Ethiopia ranks first on the continent. The other top 10 performers are: Sierra Leone, Libya, Ghana, Liberia, Malawi, Zimbabwe, Nigeria and Mozambique.
“Despite the global economic crisis which pushed government expenditure and import receipts higher, cross border trade barriers and poor infrastructure in the region are the major contributors to the slip in the growth rate in the region,” said Richard Sindiga, Kenya’s EAC Director of Economic Affairs.
The Economic Report on Africa 2013 shows that West Africa registered the highest growth on the continent, followed by East Africa, North Africa (including Libya), Central Africa and Southern Africa in that order.
Cummins Cogeneration Kenya Ltd intends to use other types of biomass to set up power generation ventures in Tunduru district of Ruvuma Region in Tanzania. The move is after a multimillion dollar power production venture that will use Prosopis juliflora (or mathenge, as it is commonly referred to in Kenya) as raw material has secured financing from a Kenyan local bank.
The company is also seeking a power purchasing agreement with Kenya Power, the country’s electricity distributer, besides conducting field trials on the suitability of different harvesting methods for mathenge. The company intends to invest $ 22 million in the venture and is upbeat that since the invasive species is widespread in East Africa, it can support long-term power production not just in Marigat in the lowlands of Baringo county and Mariakani on Kenya’s coast, but also in South Sudan, where it plans to set up a similar venture.
Mr. Yash Krishna, the company’s managing director is “100 per cent certain” that the amount of mathenge in Baringo county and other arid and semi-arid lands of Kenya would sustain an annual production of 12MW of power for 20 years. The venture will offer much-needed income to marginalised groups in Baringo where the company estimates that harvesting of the tree will generate $ 4 million for the 2,000 families it plans to involve — with each getting Ksh 80,000 ($ 1,000) each year.
In its first phase, the power-generation project is expected to have a capacity of 3MW but will expand rapidly thereafter to produce 12MW ultimately. Cummins intends to adopt the “producer gas technology” in which the trees will be subjected to immense heat to gasify them.
“This will enable us to convert the biomass into gas,” said Mr. Krishna, who added that the gas will then be subjected to a cleaning process before being used as fuel for power-generation using generators.
Mr. Krishna said that the technology is a major improvement on the “traditional” method of extracting energy from wood and other biomass. “This is a tremendous technological leap (as it is able to) tap 60 per cent of the energy contained in biomass,” he said.
Tanzania aims to eradicate Malaria through the use of chemical and biological insecticides.
Tanzania will soon start to export chemical and biological insecticides that are used to kill mosquitoes to the countries which are also in dire need of the eco-friendly malaria products once the country’s plant starts its operation. The government has already provided 75 per cent of the funding needed to complete a $ 22 million biolarvicide factory with a capacity of 6 million litres per year.
The factory is located at Kibaha District in the Coast region of Tanzania. If all goes well, the factory will commence its initial production by the end of the year. This technology involves using bacteria to poison mosquito larvae.
The Cuban government will oversee the project’s operations while the government of Tanzania will ensure funding is available.
The project is a joint venture between the Tanzania government and Cuban state-owned firm Entrepreneurial Group Biological and Pharmaceutical Laboratories (Labiofam). In the year 2010, Tanzania and Cuba joined efforts to moot idea to introduce such a technology in the country.
In 1965, Cuba succeeded in eradicating malaria, largely through the use of chemical and biological insecticides. The country has pioneered research into the use of biological toxins to kill mosquitoes.
Malaria is one of the country’s biggest killers and is responsible for at least 40 per cent of deaths. Children under five years and pregnant mothers are the hardest hit by the disease.
Statistics show that Tanzania is spending about $ 240 million or a staggering 3.4 per cent of GDP annually to treat malaria. This suggests that of the $ 11.37 being spent per person per year on health, $ 2.14 is spent on treating malaria and its complications.
The World Health Organisation (WHO) reports that malaria is costing Africa more than $ 12 billion every year in lost gross domestic product (GDP), and could pull down GDP by as much as 1.3 per cent in countries with high levels of transmission. Over the long term, these aggregated annual losses have resulted in substantial differences in GDP between countries with and without malaria.
Dr. Charles Kimei
One of the giant banks in Tanzania, CRDB Bank has recently posted a surge in profit before tax by 112 percent to Sh 80.54 billion compared to Sh 37.71 billion generated in the year 2011. The bank said in a statement that it managed to double its profit last year as non-performing loans and allowances for probable losses cut as its interest income increased marginally.
The bank’s managing director, Dr. Charles Kimei says in a statement that the bank sees a bright future in 2013, pinning its hope on a bullish macroeconomic outlook. “Going forward, the outlook looks good. With real gross domestic product projected at 6.8 per cent and as inflation rate does in a descending order, we are optimistic we will have another good year.”
Dr. Kimei said that the bank’s new outfit in Burundi is also expected to start contributing massively to its overall performance this year.
According to him, the banking sector trod down the volatile road in 2012, with deposits and lending rates as well as interbank lending rates skyrocketing as the sector’s regulator – the Bank of Tanzania (BoT) -- instituted stern measures for the industry in trying to ease inflation which was high during early months of the year.
The level of non-performing loans and advances slightly reduced from Sh 134.78 billion in 2011 to Sh 124.58 billion while allowances for probable losses also slowed from Sh 45.61 billion to Sh 32.48 billion in the same period. The consolidated financial statement also shows that the bank’s total liabilities increased from Sh 2.46 trillion in 2011 to Sh 2.76 trillion last year.
The total assets of the bank increased from Sh 2.71 trillion a year before to Sh 3.1 trillion at the end of 2012, while the interest income also moved up from Sh 188.36 billion to Sh 261.74 billion last year while there were no bad debts written off by the bank.
The net cash provided by operating activities also increased from Sh 18.52 billion in 2011 to Sh 102.09 billion while that provided by investing activities increased from Sh 26.76 billion to Sh 31.84 billion.
Deposits from other banks and financial institutions increased from Sh 2.90 billion to Sh 135.58 billion while those from customers increased from Sh 2.41 trillion to Sh 2.51 trillion.
In a move to strengthen capital bases and increase lending to small businesses, the World Bank Group’s private lending arm, IFC, says it plans to invest about $ 50 million to Diamond Trust Bank’s Tanzania and Uganda subsidiaries through a long-term loan or tier II capital, which banking regulators accept as capital.
“The subordinated loan will be utilised to strengthen Diamond Trust Bank Tanzania Limited’s capital base and assist in DTBT’s increase in lending to the SMEs,” says the disclosure note for DTB Tanzania. The note on the DTB Uganda proposed investment states the same.
The latest move means the lender has plans to invest $ 150 million in DTB Group after an earlier disclosure of plan to invest $ 50 million in DTB Kenya through a similarly structured long-term loan also qualifying as tier II capital. IFC has sunk billions of shillings in the Kenya financial sector which has been growing over the last decade.
All the proposed loans will increase the fast-growing banks’ capital and give headroom to accept deposits, which originate loans, and then increase lending to SMEs. DTB and the IFC have lately committed to aggressively invest in the region’s SME sector that is also the target of other Kenyan banks.
The IFC has a 9.8 per cent stake in DTB entitling it to the Sh 1.9 per share proposed dividend after the bank’s net profit increased by 36.6 per cent to Sh 3.62 billion from Sh 3.06 billion in 2011.
KCB, the region’s largest bank, is also set to receive a $ 150 million (Sh 12.9 billion) loan from the IFC for onward lending to small businesses and has previously been an agent for IFC’s lending to Rwandese firms. The IFC injected Sh 450 million in KCB Rwanda in mid-2011.
The central government has secured a loan of over 64.7 million from European Investment Bank (EIB) which would be spent for rehabilitation of five airports in the country and Sumbawanga airport being one of them.
The Rukwa Regional Administrative Secretary (RAS), Mr. Salum Chima has recently said that the rehabilitation of the airport would help to ease transportation in the region hence bring about development. “The current condition of the airport is not conducive for transportation undertakings... a lot have to be done,” he said.
Several challenges on the Sumbawanga airport were discovered that include the lack of a VIP lounge, hence forcing important guests to mingle with ordinary visitors in a small lounge. The airport is also lacking various requisite items including fire extinguishers, vehicles, x-ray machines and it is not fenced.
According to Mr. Chima, soon after the undertaking of the feasibility and detailed engineering designs on the five airports including that in Sumbawanga, the central government solicited funds from different sources including development donors.
Mr. Chima further said that, the Tanzania Airport Authority (TAA) has also allocated more than Tshs 20million for evaluation of an area at Kisumba Village in Sumbawanga Municipality for the construction of new airport.
According to Mr. Chima, the regional authority through TAA proposed the construction of the new airport using a loan from European Investment Bank (EIB).
Currently, Rukwa Region has only one airport located in Sumbawanga town which is among five other airports in the country that underwent feasibility studies and detailed engineering designs financed by the World Bank in 2007-08.
‘Coffee shop working’ may be trendy in some Western cities, but laptops with latte are not to the taste of Tanzania business people, according to Regus, the world’s largest provider of flexible workspace.
In its latest research report, Regus asked business people worldwide, across East Africa and in Tanzania whether a coffee shop really is an ideal place to work. The answer – locally and globally – was a resounding ‘No’.
The international survey covered 26,000 businesses in more than 90 countries. East African respondents highlighted numerous shortcomings of the coffee shop as a work environment.
The three biggest drawbacks were: Lack of privacy as many documents and conversations are confidential (91% of the East African sample raised these concerns), having to look after belongings at all times (74%), unreliable or slow internet access (74%).
Many respondents in the East African region (64%) said background chatter affects productivity while 62% cited lack of access to office equipment as a disadvantage. Most (59%) regarded coffee shops as a no-go area for client meetings.
Peter Vieira, Area Director Regus East Africa and Zambia, noted: “Across Africa, multinational business accounts for about 60% of our client-base. These businesses have strict data security protocols. Coffee shop working is not an option.”
He explained that a professional setting with access to modern office technology is a vital consideration for Tanzania SMEs. “High productivity is also essential. Downtime caused by a power failure at your favourite coffee shop is simply not acceptable.”
For this reason, both the SME and multinational clients of Regus appreciate the investment made by the workspace provider in power generators that operate independently of the local electricity grid.
This commitment to 24/7 uptime is a standard feature of the Regus service offering across sub-Saharan Africa.
“Tanzanian’s love their coffee,” added Vieira, “but it will take a lot to convince our clients they can mix laptops and latte without compromising data integrity and their productivity levels,” Mr. Vieira said.
The off-grid mobile customers and small business owners all around the country will no longer have to worry about where to charge their mobile phones, following the launch of the ReadySet solar charger by Vodacom Tanzania in partnership with Fenix International. The new innovated chargers will allow the user to charge his/her phone and earn extra income.
Tests prior to launch by Vodacom have shown that customers can earn over Tsh 90,000 per month by running a phone charging business and save Tsh 16,000 a month in kerosene fuel for lighting.
Vodacom Tanzania Managing Director, Rene Meza, describes this development as a great breakthrough in mobile phone use across the country that allows customers to stay in touch without any power restrictions.
“ReadySet is a simple technological solution aimed at significantly improving the lives of off-grid mobile customers and small business owners seeking an additional revenue stream. It provides off-grid consumers with a cost efficient and energy efficient solution - and increases access to mobile services such as M-Pesa,” Mr. Meza said.
According to Meza, ReadySet chargers will be promoted to Vodacom’s 40,000 M-Pesa agents and expected to increase mobile use for some of M-Pesa’s 4.5 million Tanzanian active users as well as boost revenues in off-grid areas.
On his part, Mike Lin, CEO of Fenix International, said: “Whether an M-Pesa agent, small business or a mother looking to generate additional household income, the ReadySet is a right choice for them. The charger will allow owners to become micro-utility entrepreneurs in their communities."
The ReadySet retails for Tshs 330,000 and is currently available at Vodacom Outlets. The ReadySet Solar Kit contains ReadySet battery pack, a 15-watt solar panel, mains adapter, multi-tip phone charger, and an energy saving LED light bar.
The Tanzanian Association of Freight Forwarders (TAFFA) is in preparations to host the FIATA Region Africa & Middle East (RAME) Conference with the theme, ‘Towards more sustainable regional freight forwarding partnerships,’ which will be held from 19-21 June 2013 at the Double Tree by Hilton hotel in Dar es Salaam Tanzania.
"As TAFFA, we are delighted to have won the bid to host the RAME Conference this year, an opportunity that won't be back on our shores for a number of years,” Stephen Ngatunga, President of TAFFA said.
This global trade event which is co-hosted by the Ministry of Transport will host over 300 senior clearing agents and freight forwarders, business delegates, government officials, ambassadors and trade representatives from the Africa and Middle East regions.
According to Mr. Ngatunga, the president of FIATA, Mr. Stanley Lim, as well as other senior FIATA dignitaries and member country representatives will be attending and directing a programme wholly focused on freight forwarding and trade issues in the Africa and Middle East regions.
The conference is recognised all over the globe as it is representing the freight forwarding industry by many other governmental organisations, governmental authorities, and private international organisations in the field of transport.
"This is an incredible opportunity for any organisation with an interest in freight forwarding, whether as a forwarder, insurer, service provider, legal counsel, product provider or trade official to network and make invaluable business connections. We want to show the world through this conference that Tanzania is an ideal gateway for regional trade.
He further said that the event will have a positive impact to the tourism industry due to the fact that delegates have expressed need to visit the Serengeti, Zanzibar and Mt. Kilimanjaro.
This conference has comes at a time when Tanzania is embarking on an expansion and modernization of ports and railway lines.
Experts say there are vast opportunities for business growth to be unlocked in Tanzania in terms of clearing and freight forwarding especially if landlocked countries of Burundi, DRC, Rwanda and Uganda plus southern African countries utilize Dar es Salaam through the Northern route and vice versa as a freight cargo transportation hub.
The United Nations has launched a project to help Tanzanians access more opportunities for economic growth, promote equal access to economic opportunities, improve trade and use natural resources to promote job creation.
According to UN, the move is an attempt to address the irony of high poverty levels in the midst of plenty.
The UN’s project is known as Economic Growth Working Group. Through the project several government ministries have made assessments analysing the employment creation potential in their policies and programme. “This has served as an important policy exercise to facilitate government’s channelling of resources through sectors and programmes that can yield better jobs, mainly for young people,” the UN Report said.
The UN’s project comes at a time when unemployment is increasing driven by rural-urban migration of youth who run from low paying agriculture and poor social services in rural areas to better services in towns and cities.
As part of efforts to improve labour productivity and employment creation, a review of the existing labour market information systems has been undertaken through the project.
The UN project also comes amidst efforts by the government to try to learn from the Asian Tigers countries that achieved economic miracles within short periods of time. It was reported this week that a 30-member team of Malaysian experts are coaching 300 Tanzanian experts on how the country can move forward by implementing six priority areas articulated in the Tanzania National Development Vision 2025.
The Development Vision 2025 was developed in the 1990s and came into operation in 2000. The Vision 2025 outlines broad national long-term goals, perspectives and aspirations. In 2009, Planning Commission conducted a study to review the implementation of the Vision 2025 with a view of assessing what has been done so far, identify gaps and propose the way forward.
Mr. Chris Tan, director for Performance Management and Delivery Unit (Pemandu), a Malaysian government agency said at a workshop on Wednesday that training by Malaysians focused on six priority areas identified by the government of Tanzania.
Other areas are agriculture, education, water, energy, transport and resource mobilisation, priorities articulated in the Vision 2025.
Malaysian experts on these areas were coaching their Tanzanian counterparts from ministries, government departments and agencies, and the private sector under guidance from the Planning Commission. “The process began after it was approved by the Tanzanian cabinet. We held a meeting with ministers in Dodoma in August last year,” Mr. Tan said.
The CRDB Managing Director, Dr. Charles Kimei, has recently announced that his Bank's ATMs would start accepting China UnionPay (CUP) cards following the overgrowing business relationship between China and Tanzania.
“Holders of the CUP cards issued by banks in China or elsewhere would be able to use balances in their respective bank accounts at CRDB's ATM, points of sale (PoS) and counters. We (CRDB) are going to launch the same within (this) months," Dr. Kimei said
The CUP, which is like the US MasterCard and visa cards, are the only debit/credit card for the world's second largest economy, which is accepted by all Chinese banks.
CUP is the only domestic bank card organization in China which is accepted on 1.2million ATMs worldwide and used in 105 countries and regions around the world. Since 2006, CUP UnionPay are used in over 100 countries outside China. The card was founded in March 2002 and is an association for China's banking card industry, operating under the approval of the People's Bank of China.
The bank attributed the introduction of the CUP to the Chinese community in the country which is a special segment amongst CRDB's customers. "More important, the Chinese community in Tanzania-which we forecast to grow as our relations grow stronger-need financial intermediation," Dr. Kimei said.
Dr. Kimei further said: "all what is happening in the real economy needs to be supported by the financial system". CRDB has 90 branches, 250 ATMs 13 mobile branches and several PoS terminals.
TTCL Principal Marketing and Sales Officer, Mr. Peter Ngota, showing the benefit that comes along with bando na TTCL.
Tanzania Telecommunication Company Limited (TTCL) has launched a new product, ‘Bando na TTCL’ that would enable customers to remain connected to the internet, send messages and make calls at very low costs.
During the launch of the product, the TTCL Principal Marketing and Sales Officer, Mr. Peter Ngota said that Tanzania is geared to assure constant connectivity of internet services in case of failure of Submarine Fibre-optic Cables linking the country with the rest of the world by setting up a standby restoration capacity.
He said that the recent outages of internet connectivity experienced in the country were not directly connected to the National ICT backbone infrastructure, promising to control any future disruptions if and when they occur.
According to Mr. Ngota, the problems might have been caused by the disconnection and disruptions that occurred at Egypt's undersea internet cable. The incident is said to have been caused by three divers who were caught cutting submarine cables that hit several lines connecting Europe with Africa, the Middle East and Asia.
"I am not sure about the veracity of the reports, but that is what might shed light on the recent internet connectivity we have experienced," he said.
On the other hand, Mr. Ngota hailed the government for setting up the submarine fibre-optic cable that has seen growth in various sectors. "We highly commend the government for setting up the submarine cable that has seen various economic and social services improving in many respects," he said.
Tanzania is now eligible to apply for a Program Implementation Grant in the amount of $ 100 million after becoming the newest developing country partner to join the Global Partnership for Education (GPE), including mainland Tanzania and Zanzibar, a semi-autonomous island.
“We welcome Tanzania to the Global Partnership for Education and look forward to working with the Tanzanian and Zanzibar governments and a wide range of development partners to ensure access and improve the quality of learning for all children in Tanzania and Zanzibar,” said Alice Albright, GPE’s Chief Executive Officer.
As a member of the Global Partnership, Tanzania is now eligible to apply for a Program Implementation Grant in the amount of US $ 100 million. Based on indicators such as the size of the school population and available donor funding, this will be divided into US $ 94.8 million for Mainland Tanzania and US $ 5.2 million for Zanzibar.
Tanzania will join the Africa 1 constituency of the GPE Board of Directors. Mainland Tanzania’s and Zanzibar’s current Education Sector Plans cover the periods 2008-2017 and 2008-2016, respectively.
The Global Partnership for Education is made up of nearly 60 developing country governments, as well as donor governments, civil society organizations/NGOs, teacher organizations, international organizations, and private sector organizations and foundations, whose joint mission is to galvanize and coordinate a global effort to provide a good quality education to children, prioritizing the poorest and most vulnerable.
The Industrial & Allied Index at Dar es Salaam Stock exchange (DSE) has weakened by -0.8 percent to 1,881.74 points from last week due to price falls on TBL counter. "We anticipate activities to remain moderate on the bourse despite the challenge emanating from the supply side."We also expect some activities on TBL counter as East African and foreign investors have started showing interests," read part of the DSE report.
According to DSE, the week-on -week turnover increased significantly due to a huge transaction on NMB Bank counter. The weekly turnover was Tshs 1.6 billion, an increase from the previous week's turnover of Tshs 884 million. “what would have attracted the investor to the NMB Counter is that currently, the Bank has factors like branch network and promising revenue generation,” Chief Executive Officer (CEO) of Tanzania Securities, Mr. Moremi Marwa, said.
He said that many things inform the investor when making decisions including branch network, quality of loans and profitability. “So this makes the investor make decisions that are forward looking."
The Banking segment Index at Dar bourse has remained flat to settle at 1,342.95 points. Foreign investors will continue to participate on some counters, mainly on the banking segment.
Twiga counter had a prearranged transaction for 100,000 shares with a turnover of Tshs 262 million. The weekly turnover was Tshs 1.6 billion, an increase from the previous week's turnover of Tshs 884 million.
However, activity levels decreased by 10 percent to 1,487,235 shares, from last week's number of 1,640,110 shares. Indices edged down towards the end of the week.
The bourse ended the week at 1,521.48 as the TSI settled at 1,582.07, pulled down by TBL counter that lost Tshs 20 to trade at Tshs 3,060 from last week's Tshs 3,080 per share.
Bank of Africa (BOA) has posted a profit increase of over 125 percent for the year ending December 2012, thanks to both net and non interest incomes that generated significant revenues. BOA net profit reached the new height last year, after it jumped to Tshs 2.53 billion compared to Tshs 1.12 billion for the previous year.
The bank, through its financial statement, attributed the profit increase of yesteryear to net income revenue that surged to Tshs17.81billion from Tshs12.15 billion of previous year.
The net income of the bank was pushed by increased activities on the loan and advance portfolio that increased by 30.8 percent to reach 197.66 billion compared to 151.03 billion to shove loan to deposit ration up 75.8 percent.
In another development the bank has promised to continue supporting Comprehensive Community Based Rehabilitation in Tanzania (CCBRT) Hospital to enable it serve more people.
The reassurance was made over the weekend when the staff from the bank had lunch with the patients at the hospital to celebrate Easter Monday. Apart from the colourful event the staff provided various gifts to children admitted to the hospital. The bank's head of Commercial Banking, Mr. Wasia Mushi, said it was the staff's pleasure to join CCBRT patients in celebrating Easter holidays.
"This is one of our Corporate Social Responsibility and we are happy for this," Mr. Mushi said. He assured the bank's continued support to CCBRT patients in the future.
Sony is having a blast with an array of three launches this year. A new phone, nicknamed Dogo is expected to be launched as the Xperia A sometime this summer. The phone is expected to feature a 4.6 inch screen, powered by a Qualcomm Snapdragon 600 processor, 2 GB RAM and 32 GB inbuilt storage. The phone is touted to be dust and water resistant like the recent Xperia Z.
Also on the cards is the Xperia UL codenamed Gaga. Something interesting no doubt but whether the phone will offer a whacky display like its namesake is yet to be seen. A close coursing of the ZL, the phone is expected to feature a Snapdragon Processor 600, 2 GB RAM and 32 GB storage. The display of course is a mystery with the “Gaga Factor”. Users worldwide will not be surprised if the company comes with up something completely new and creative. This phone will also support NFC.
Another device in the making is a phablet, nicknamed the Togari, expected to have a 6.4 inch HD display and will be released sometime this summer. Busy time for Sony with back-to-back phone and phablet releases to join those already in the field. Given the company’s tech record, there is no doubt in anyone’s mind that all of the releases will be huge successes and well received by consumers.
Johannesburg Stock Exchange have expressed interest to cross-list the Tshs 53 trillion Mwambani Economic Corridor Project in Tanga Region into their stock market. The move has come few days after East African Community (EAC) Secretariat approved the project.
JSE is contemplating to push South African authorities to allow cross-listing dollar currency. Currently Johannesburg is not allowed to deal in dollars, but in rand.
However following the approval of the project, several international companies have now expressed commitment to inject funds for smooth implementation.
"We have received a number of commitments from funding agencies from England, Canada, United States, Scotland, South Africa and the Middle East, expressing interests to pump funds for the project," the co-director with the company manning the project, Mr. Cuthbert Tenga said.
According to Mr. Tenga, some other local companies have also shown interests in participating in the implementation of the project, including the National Social Security Fund (NSSF) and the National Housing Corporation (NHC).
He said that due to the size of the project, which shall involve a free port, an airport city, water, gas and oil pipelines to be laid along railway lines and construction of new railway towns which may require being under the Prime Minister's Office instead of transport ministry alone.
"We are now in the process of negotiating a memorandum of understanding (MoU) with the responsible Ministry of Investment and Empowerment in the Prime Minister's Office, currently headed by Dr. Mary Nagu," Mr. Tenga pointed out.
The Mwambani project is also to involve construction of a deep sea and free port at Mwambani in Tanga Region and a new heavy haul standard gauge railway that would link the Indian Ocean to the Atlantic Ocean from Tanzania, through Uganda and the Democratic Republic of Congo (DRC).
The Australian Stock Exchange listed mining company, Peak Resource, has announced that it will soon release a revised rare earthy resource for its Ngualla Rare Earth Project in Tanzania. Ngualla currently boasts the fifth largest rare earth resource, and the highest grade of the seven largest deposits outside of China.
At present, the project hosts a resource of 170 million tonnes at 2.24% REO. The total resource includes a higher grade, near surface zone of 40 million tonnes at 4.07% REO for 1.6 million tonnes of contained REO.
Peak Resources Limited aims to develop itself into a medium sized mining house based on exploration and development of its highly prospective exploration portfolio.
The Company holds an extensive portfolio with the main focus being the Ngualla Rare Earth Project in southern Tanzania. Additionally, Peak holds a number of gold projects comprising a mix of brownfield, greenfield and advanced exploration prospects within Tanzania and Western Australia.
ANSTO Minerals (Australian Nuclear Science and Technology Organisation) has completed preparation of feed material for the Ngualla solvent extraction (SX) Pilot Plant.
An average 83 percent recovery of rare earths in the acid leach stage was achieved from the bulk sample. This would "place Peak amongst a very select few companies to have successfully produced high quality purified rare earth products,” according to managing director Richard Beazley.
He said: “The independent verification of the Ngualla process flowsheet by ANSTO Minerals further demonstrates that Peak has a robust and reliable metallurgical treatment process that works for the weathered Bastnaesite mineralisation at Ngualla."
The work was achieved using the simple sulphuric acid leach recovery process to treat a 1.3 tonne bulk sample of Ngualla rare earth mineralisation, which further verifies the robustness of the process flow sheet.
The importance of this is the ability to produce separated high purity products which adds significant value to the project and allows access to wider markets for Ngualla’s products.
A Scoping Study confirmed Ngualla as a leading rare earth project with an estimated NPV of US$1.57billion and pre-tax IRR of 53 percent for an initial 25 year mine life and mining of an 8.2 million tonne portion of the Indicated and Measured Mineral Resource within the Bastnaesite Zone with an average grade of 4.35 percent REO.
The Pre-Feasibility Study and revised economic assessment now in progress and scheduled for completion in the September quarter 2013 are expected to continue to significantly enhance the already robust project economics.
Australian explorer, Cradle Resources, has recently reported that it had loaned Panda Hill Pty Limited about $ 3.37 million to fund the completion of the 49 percent acquisition and the 1 percent option. Following the acquisition, Cradle would hold 50 percent ownership of the Panda Hill project, as well as a four-year option to acquire the balance of the project for around $ 14 million, of which $ 9 million was payable in cash and $ 5 million in shares or capped royalty.
Under the terms of the share purchase agreement, Cradle Resource would acquire all of the share capital in Panda Hill Pty Ltd in exchange for 50million performance shares and 50million ordinary shares.
According to Cradle, Panda Hill Company holds a 49 percent shareholding in RECB, which it acquired for some $ 3.34 million. RECB is a special purpose vehicle that fully owns the Panda Hill project, which was estimated to contain a Joint Ore Reserves Committee complaint resource of 56 million tons, at 0.5 percent niobium.
The Panda Hill company also had the option to acquire a further 1percent shareholding in RECB, at a fee of $ 30 000, and which would be exercisable for an additional $ 30 000. Panda Hill further held the right to acquire the remaining interest in RECB under an earn-in/option agreement, which would see Panda Hill sole-fund project expenditure for up to four years.
The balance of 50% of the project could be acquired at any time during this four-year period for $ 17.1 million less 25% of project expenditure funded by Panda Hill.
Panda Hill could further elect to pay $ 5 million of the net purchase price in a noncash consideration, being either listed shares or a capped royalty, with the balance payable in cash.
African Eagle mining company has announced that it would defer the planned integrated laterites mini pilot plant testwork at Dutwa nickel project in northern Tanzania until the search for a strategic partner had progressed sufficiently.
“The partner may wish to influence the nature of the test programme as a part of any funding it may provide for the finalisation of the bankable feasibility study,” the company said in a statement.
To fast-track the development of its Dutwa nickel project in northern Tanzania, the company has accelerated its search for a strategic partner. This followed a strategic review undertaken with the assistance of its financial adviser, Cutfield Freeman and Company, which advanced a series of recent meetings held with interested parties in Asia and elsewhere, and saw the signing of several confidentiality agreements, as well as the establishment of a data room.
The company advised in a project update on Tuesday that it would effectively manage its resources and revise the near-term focus of its development activities while the search for a partner progressed. “These changes will result in a reduction in the costs of our operations, as well as the optimisation of financial resources in the near term,” the company stated.
African Eagle believed that the Dutwa project was highly attractive as a result of its favourable mineralogy, which allowed nickel extraction using atmospheric tank leaching instead of the complex high-pressure acid leaching required for most nickel laterites projects.
In the near term, the Aim-listed nickel explorer would advance logistical studies, progress environmental studies, and explore the potential of the Tanzania-based Dutwa and Zanzui licences for holding economic nickel sulphide mineralisation.
TiGO Brand Manager William Mpinga speaking to the reporters at the launch of the service ‘calls to all networks’ in the country at the same price with a discount of 20% to overseas, witnessing is Ms. Jacqueline Nnunduma, offer expert of Tigo products.
Tigo Tanzania, one of the fast growing service providers in the country, has launches its new offer through ‘Tigo time’ that will give its valuable customers an opportunity to enjoy one flat rate when making calls across all networks and get a 20 % discount on all international calls 24 hours a day seven days a week. With this new flat rate customers will be able to enjoy more minutes of conversation than before and experience massive savings on calls made.
“Tigo cares about its customers and is ever conscious about their needs for a cheaper, affordable, value for money service. With this new offer, our valuable customers will be able to make massive savings on both local and international calls: connecting with their loved ones and friends,” William Mpinga, Tigo’s Brand Manager said.
He said that Tigo time is an ideal offer for those running their own businesses and working in the corporate or professional world, enabling one to make important business calls to customers, suppliers, and business clients who may be using other networks or are based abroad.
“This will also ensure that our valuable customers have longer phone conversations with those using other networks within the country without the need to feel rushed while making calls. We are once again providing a great platform to be used and enjoyed by our customers whom we value greatly and would like to urge all to take advantage of this new offer. Communication could not get any better as we are giving our customers the option of choosing who to call and not dictating their freedom of choice,” Mr. Mpinga said.
To use this service one needs to dial *149*90# or send a sms with the keyword TIGO TIME to 15372 to activate this weekly service.
Tigo started operations in 1994 as the first cellular network in Tanzania. It now covers 26 regions in mainland Tanzania and Zanzibar. Tigo strives to be Tanzania’s most innovative mobile phone operator, offering services ranging from affordable mobile voice communications to high speed Internet access and mobile financial services through Tigo Pesa.
Tigo is part of Millicom International Cellular S.A (MIC) which provides affordable, widely accessible and readily available cellular telephone services to more than 43 million customers in 13 emerging markets in Africa and Latin America.
Airtel Niger’s Regulatory Director, Mr. Karimou Salifou, receives the award from Salifou Labo Bouche, minister for communication and technologies.
Bharti Airtel (“Airtel”), a leading telecommunications services provider with operations in 20 countries across Asia and Africa, has been named the Most Socially Responsible Company in Niger at the 3rd Edition of the National Excellence Awards Ceremony.
“This is in recognition of the tremendous contribution Airtel has made through its corporate responsibility in Niger, through the adoption and refurbishment of schools in underprivileged and remote areas of the country. We believe these investments, as with others we have made to better the lives of the communities in Niger, will help support some of the infrastructure needs in schools,” Airtel Niger’s Regulatory Director Mr. Karimou Salifou said.
Airtel Niger was awarded by the independent organization for Management Excellence that rates organizations and individuals distinguishing themselves for exceptional achievements during the year.
“We are also extremely humbled because this award recognizes what Airtel is doing in the 17 countries that we operate in across Africa, especially in the area of education. We believe this will go a long way in raising the literacy levels across the continent; we encourage more corporate organisations to join hands to help young students who we depend on for our future economic growth and development. ”
In awarding Airtel, it was noted that the company’s contribution to underprivileged children was highly appreciated by communities, government and the civil society.
According to the United Nation’s Development Programme (UNDP) index covering the years between 1980 and 2012, only 48 percent of the children in Niger are completing primary education, indicating a need for public-private partnerships in alleviating the challenge.
“Our community engagement in the Francophone countries that we operate in appreciates that there are unique socio-economic challenges. This distinction recognizes Airtel’s efforts in trying to touch the hearts of the communities that we serve,” Tiemoko Coulibaly, CEO for the Francophone Africa Region at Bharti Airtel said.
Following the successful introduction of value added services such as Nokia Life and Nokia Xpress Browser on Airtel subscriber’s mobile phones in Nigeria, Nokia and Airtel will now extend the service the East African market, starting with Kenya, Airtel said in a statement on Tuesday.
"This alliance...contributes towards bridging the digital divide on the continent. Partnering with world class organisations on such a large scale will galvanize the sector in Africa and be a catalyst for growth," Airtel Africa's chief marketing officer Andre Beyers said.
Nokia Life services, where the information is customised and designed to meet customer needs in areas such as education, agriculture, healthcare, livelihood and even spirituality, are delivered as SMS messages to the consumers.
Since its launch in India, Nokia Life has expanded to several countries and has been experienced by more than 95 million people in 18 local languages.
Airtel has also announced the availability of integrated billing solutions for Nokia store in Nigeria and Kenya, wherein customers will be able to download paid content from Nokia's mobile application store and pay for it as part of their monthly mobile phone bills or have the amount deducted from their pre-paid balance.
The third area of collaboration is the provision of Nokia Xpress Browser for Airtel customers in Nigeria and Kenya. In Xpress Browser, the cloud-acceleration technology compresses information by up to 90 per cent to increase download speeds and render pages in a format specially designed for mobile phones.
"Our focus is on bringing real consumer value through relevant content and services and by igniting the local ecosystem to do the same...we are pleased to be working closely with Airtel Africa to deliver on our consumer promise," Nokia Middle East Africa Head of Solution Sales Olivier Mas said.
After a tripartite agreement to harmonise railway operations in Tanzania, Zambia and the Democratic Republic of Congo, the Tanzania government is in a plan to spend about $ 330 million (530 billion shillings) to upgrade its railway network and bring it in line with other networks across central and southern Africa.
Tanzanian Minister of Transportation Harrison Mwakyembe said the planned improvements encompass track repairs and upgrades, including an extensive change across the whole network to standard gauge, which is expected to expedite transportation of goods and passengers in the region.
“6 billion shillings, equivalent to $ 3.7 million, have been spent so far on renovations for Tanzania Railways Limited, including an order of 274 passenger carriages, 22 locomotives and other cars, expected to arrive by June.
The government has ordered 274 new passenger wagons, 22 locomotives, 25 wagons and 34 rolling stock brakes (brake vans), which are expected in the country before June this year.
According to Mr Mwakyembe, the government through Tazara has also secured $ 39 million from China to buy six new locomotives, 90 new wagons and spare parts, as well as renovate nine locomotive engines.
The central line running westwards from Dar es Salaam through Dodoma will be improved substantially this year. The upgraded Tanzanian central line on standard gauge is expected to carry 35 million tonnes of freight annually to Rwanda, Burundi, Uganda and eastern DRC.
Damas Ndumbaro, acting managing director of Tazara, said the acquisition of new locomotives and other measures by management are expected to increase the tonnage of cargo that it hauls.
In a move to expand its footprint in the region, after introducing luxurious Crane class earlier this year AIR Uganda is now planning to fly to Arusha three times a week. The airline is currently operating scheduled flights to all the East African capitals and Juba in South Sudan.
“Plans are underway to grow the network by the introduction of flights to Arusha in May next year starting with a three weekly flights frequency so as to ease travel," the airline said in a statement.
Early this year, Air Uganda introduced the Crane class that is designed to give its clients a stress free travel experience from the time the client purchases his ticket to arrival at his destination."With this offering the client enjoys a separate check in counter to reduce the time spent in queues, access to the Airport lounge where one gets to relax and have a meal while awaits his/her flight," the statement said.
On board a crane class passenger gets an extra seat for his own personal space and also an extra baggage allowance. "This class is designed to offer comfort and ease when travelling and therefore offering a dignified experience for our clients," the airline said.
Crane class is only offered on CRJ - 200 aircraft which serves all Air Uganda routes save for Juba. Air Uganda operates two types of Aircraft the CRJ 200 and the MD 87, offering three class cabin configurations, business class, Crane class and Economy class.
The doing business 2013 reports by the World Bank states that the country has made construction permits more expensive by increasing the cost to obtain a building permit. However, the East African country has made starting a business in the country easier by eliminating the requirement for inspections by health, town and land officers as a prerequisite for a business licence.
In starting a business, the country was ranked 113 and 122 in trading across borders. The World Bank survey focuses on the regulatory environment for small and medium- size enterprises since they are key drivers of competition, growth and job creation, particularly in developing countries.
According to the Survey, Tanzania made importing more difficult by introducing a requirement to obtain a certificate of conformity before the imported goods are shipped.
To the moment, the government is undertaking a series of reforms, including the turnaround time for registering a business under Tanzania Investment Centre (TIC) and a UNCTAD programme on e-regulation.
In the rest of the East African region, it shows that Rwanda made getting electricity easier by reducing the cost of obtaining a new connection. Rwanda made enforcing contracts easier by implementing an electronic filing system for initial complaints.
At the same time, Uganda made it easier by digitising records at the title registry, increasing efficiency at the assessor's office and making it possible for more banks to accept the stamp duty payment.
Uganda strengthened its insolvency process by clarifying rules on the creation of mortgages, establishing the duties of mortgagors and mortgagees, defining priority rules, providing remedies for mortgagors and mortgagees and establishing the powers of receivers. It notes that the country strengthened its insolvency process by clarifying rules on the creation of mortgages, establishing the duties of mortgagors and mortgagees.
Tanzania Share Index (TSI), according to Tanzania Securities analysis, gained 10.22 percent in the first quarter of this year to reach 1,576.76 points, being the all time highest bullish performance Dar es Salaam Stock Exchange (DSE) gained 2.31 percent to 1520.24.
The bourse bullish trend is also attributed to foreign investors whose presence influences the market's indices northwardly, since most are seeing stocks as being undervalued.
Experts says the Dar bourse has ended the first quarter on a higher key after its indices appreciated well, reflecting good performance by most of the listed companies.
Orbit Securities Head of Operations and Dealings Juventus Simon said normally DSE in the first quarter equities prices drop because it is clouded with a number of family and firms financial obligations. "But thanks to foreign investors, mostly corporate, who have shown a good appetite for the stocks, especially on banking sector," Mr. Simon said over the weekend.
He said almost all listed companies from TCC, TBL, NMB Bank to CRDB Bank share prices have appreciated handsomely to woo portfolio investors in the first quarter. "We have now seen that even CRDB stocks are stable and climbing up steadily," Mr. Simon said.
CRDB share price climbed by Tshs 2 to Tshs 162 on Thursday. The bourse rallying trend has puzzled even brokers as shares continue to gain, despite some sliding slightly and regain accordingly. During the first quarter stocks are trading on high demand against the normal glut.
According to Mr. Moremi Marwa, the CEO of Tanzania Securities, the new development follows people understanding more about the benefits of the 'assets class' (stocks) supported by media, some brokers' analysts and in-depth researches.
"Also good fundamental performances by significant number of companies listed on the exchange, coupled by fine and promising macro economic outlook, makes investors maintain bullish market sentiments - hence more demand and increased prices," Mr. Marwa said recently.
On average, one company is listed every year. Given the number of firms listed and cross-listed on DSE, as the bourse turned 15 years, there are only 17 companies.
The Capital Market and Securities Authority (CMSA) have been challenged to raise awareness to small and medium-sized companies on how they would list on the Dar es Salaam Stock Exchange (DSE).
The deputy permanent secretary in the ministry of Finance, Dr. Servacius Likwelile, told the stock market regulator that much awareness campaign was needed to attract listing.
DSE established an alternative trading segment called Enterprise Growth Market (EGM) for SMEs to raise capital but up to now there is no company listed as a result of poor awareness.
“What measures are being taken to make this new window known by the entrepreneurs? I challenge CMSA to intensify awareness and sensitisation programmes,” said Dr. Likwelile.
The fast growing pan African bank, Ecobank Tanzania, is set to establish four more branches and increase the number of automated teller machines (ATMs) by the end of this year in a move to spread its footprint all over the country.
According to the bank’s Director General, Enoch Osei-Safo, the institution will establish branches at Kariakoo, Mwanza, Arusha and Mtwara before the end of this year. “The establishment of these new branches will go hand in hand with the installation of more ATMs across our markets,” he said.
He told Corporate Digest that all is well set for the establishment of three new branches. He said that if all goes well, the Kariakoo and Mwanza Branches will be launched this April while the Arusha branch will be open for business in the second quarter. Mtwara branch will be ready in the last quarter of the year.
“The installation of these new branches and the ongoing development in our banking system positions Ecobank bank as the pan-African bank capable of creating positive change right across the continent for individuals and businesses alike;” said Mr. Osei-Safo, adding that Ecobank is uniquely positioned to take banking to the people and to facilitate cross-border trade and investment."
He further said that even though the bank is only 3 years old, it is already a positively thriving player in a market of about 50 banks.
“Our shorter term objective is to systematically expand across Tanzania leveraging multiple and varied channels, namely branches, ATMs, visa cards, mobile banking, internet banking and point of sale terminals,” he said. Adding that, the bank has also invested in systems and platforms that would facilitate the provision of seamless end-to-end transactions and solutions for clients between Tanzania and the other African countries where Ecobank operates.
Following Tigo’s immeasurable support towards the development of a Kidney Detection SMS application service that was meant to enable millions of Tanzanians to know the status, the company has recently been honored with a certificate of appreciation from the National Kidney Foundation.
"Tigo Tanzania has always strived to be a pioneer in the telecom industry through provision of innovative products and services; this is why we are extremely proud to be the first operator to invite our customers to test the status of their kidneys through the use of a Tigo line,” Tigo General Manager, Diego Gutierrez said.
He said that within the mobile health sector, it is through products such as Tigo bima, where customers are covered up to 30 days of hospitalization that Tigo is continuing to invest in Tanzania as a good corporate citizen, therefore creating higher living standards for all.
The development of this new Kidney Detection SMS application service was made possible through the partnership between Tigo Tanzania, The National Kidney Foundation and Uhuruone-Selcom Broadband Limited: caring parties joining forces in order to sensitize the public on the importance of knowing their kidney's status so as to facilitate early treatment.
As a result of this service, millions of Tanzania will be provided with a medical service enabling them to know the status of their kidneys in the comfort of their own homes; liaising closely with doctors in local hospitals to ease the strenuous process associated with medical appointments and checkups.
"Kidney disease is now a threat in Tanzania. Among 3,500 patients who were tested in 2011 in Dar es Salaam, 1,200 were found with kidney ailment. Kidney disease is disturbing many people in the world and it is hard to detect. Dr. Linda Ezekiel, founder of the National Kidney Foundation said.
According to Dr. Linda its symptoms however include urinary problems and body swelling. “The major challenge facing us today is failure to get accurate statistics about the disease that cannot immediately be detected even among hospitalized patients. Along with the challenges, I urge the public to have the culture of testing their health so as to know the problem beforehand in order to get the correct treatments.”
He she said that there is now no need to fear check-ups since the Government is training specialists all over the country, and the goal is that by 2015 all the kidney operations would be conducted in Tanzania. At the meantime the Government is fully paying surgery cost for patients referred to India and for all the medication afterwards.
In a move to increase rural water supply in Tabora region, the Tanzanian government and Japan have signed a Tshs 1,282 million well drilling and water pipe construction pact that will see more than 20 villages benefit from the project.
“The number of people who will have access to clean and safe water in these areas will increase from roughly 7.8 per cent in 2009 to an estimated 48.5 per cent in 2020," said Mr. Masaki Okada, the Ambassador of Japan to Tanzania.
Mr. Okada said that the grant will be extended and financed through the Japan International Cooperation Agency (JICA), which signed the agreement with the government of the United Republic of Tanzania.
Speaking after the signing ceremony, the Minister of Finance, Dr. William Mgimwa, said that the project of rural water supply is in line with the objectives of the National Strategy for growth and reduction of poverty including improvement of people's well-being.
"The overall objective of rural water supply project is to improve access of Tabora residents to safe and reliable water, and the success of implementation of this project will contribute significantly to the welfare of beneficiaries and overall development in Tanzania," Dr. Mgimwa said.
He assured the government of Japan that the Tanzanian government will conduct close monitoring in order to ensure the design and quality of work meets the acceptable professional standards.
Medical Stores Department (MSD) Acting Director General, Mr. Cosmas Mwaifwani, has announced that beginning July this year the department will outsource for private suppliers to assist in ensuring timely delivery and supply of medicine, particularly to the most remote parts of the country.
“The arrangements are in line with the department's strategy to ensure that drugs are directly delivered on time to patients instead of passing through the Regional and District Medical Offices (MDOs) as is the case in many parts of the country today,” he said.
He said that stealing and illegal selling of drugs is one of the factors that have prompted the hiring private suppliers to make sure the supplies do not pass through DMOs anymore.
Mr. Mwaifwani mentioned that some of the stakeholders will not be cooperated in the move due to their misconducts in undertaking the supply and delivery of the medical products.
He further said that the current procurement procedures delay consignment of drugs, causing delays of up to between 9 and 10 months to arrive from overseas. "We have forwarded our proposals of new procurement regulations to the Public Procurement Regulatory Authority (PPRA) to amend cumbersome procedures accompanying the procurement of medicinal drugs," said Mr. Mwaifwani.
According to the Minister for Health and Social Welfare, Dr. Hussein Mwinyi, the government has accepted plans and it is now in the final stages before it officially starts. "Yes, we are planning to implement the new strategy and hope MSD is going smoothly with it. We hope to simplify the process of supplying drugs by using private entities when it comes into effect," he said.
Direct delivery of medical drugs has now been implemented in ten regions of the Tanzania Mainland and a consultant has been assigned to study its effectiveness before it is fully implemented countrywide. The plan is among strategies to ensure MSD reaches as large a population as possible despite its limited capacity coupled with insufficient financial support.
Minister for Communication Science and Technology, Professor Makame Mbarawa (second left), cheering with Head of Marketing and Communications of Vodacom Tanzania, Kelvin Twissa (third left), Corporate Senior Manager of Samsung, East Africa, Simon Kariithi (right) and CRDB Bank PLC Deputy Managing Director(Operations & Customer Service), Saugata Bandyopadhyay,(first left) soon after the launch of the deal that will allow CRDB customers to get high end Samsung devises for a monthly instalment payment of up to a maximum of two years. This promotion campaign includes Samsung Galaxy S3, Samsung Galaxy Note and Samsung Galaxy Note10.1
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