Tuesday, November 7, 2017

Airtel calls schools in Kinondoni to make use of Airtel Lab

 

By The Citizen Reporter @TheCitizenTz news@tz.nationmedia.com

Having established a modern ICT through its Airtel Fursa program, the mobile phone company is now appealing to primary and secondary schools to utilize the facility.

The call was made by Airtel Tanzania Project Manager, Ms Jane Matinde, after visiting Kijitonyama Kisiwani Primary school, a visit aimed at introducing the ICT lab to pupils and schools within Kiniondoni Municipal.

The Airtel Fursa Lab is a partnership between Airtel and Dar Teknohama Business incubator – DTBi – designed as life changing program. It equips pupils and teachers with ICT knowledge.

“We have big number of pupils and teachers especially from Kijitonyama Primary School who have joined the ICT studies. The training will go on as usual even during the holidays. This is an opportunity to pupils and teachers and whoever is interested to register for the studies,” said Ms Matinde.

 Earlier, the studies had focused on pupils, students and entrepreneurs but now they have extended the same to teachers within Kinondoni Municipal.

“We are still receiving applicants who want to get skills on ICT management. Pupils, students and anyone who is willing to take part in these studies is encouraged to apply,” she added.

Kijitonyama Kisiwani Primary School second master, Ms Sikudhan Semka, applauded Airtel for visiting the school and said they would make sure that they use the Airtel Lab accordingly.

“We have five computers at the school but not even a single teacher can use them as none has the skills. It is very encouraging to learn that our neighbouring school has the facility that can equip our teachers and pupils with such a knowledge. We will make use of this opportunity,” she ssid.

The ICT Lab Airtel Fursa Manager, Agape Jengela, said they are ready to offer training to any applicant.

Jengela named some of the courses offered as lego Robotics’ – an animation programming for children and 3D designing and printing.

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Tuesday, November 7, 2017

Open account for your children, bank urges parents

 

By The Citizen Reporter @TheCitizenTz news@tz.nationmedia.com

 Azania Bank Limited has introduced for children.

The Watoto Account is aimed at encouraging and enabling parents and guardians to help their children build a savings culture, largely by contributing to the account – and regularly being briefed on what is going on.

Azania Bank managing director Charles Itembe said here yesterday that the account meant a lot as a catalyst in encouraging money saving for future use in the interests of children.

“The ‘Watoto Account serves as additional savings for children. It is an account that has four special periods for withdrawing the money in a year,” Mr Itembe said, adding that the account is bound to be useful to parents.

The bank has designed the account in such a way that it meets requirements of children now and into the future, according to Mr Itembe. The account can be opened by depositing only Sh50,000 – and there is no service charge for operating the account.

“To open the account for the child, a parent is only supposed to produce the child’s birth certificate. When the child turns 18 years old, he/she ‘graduates for processing the account” on his/her own, Mr Itembe stated. He appealed to parents to open accounts for their children to plan for a bright future for them.

“Life in the current situation compels all of us to save for our children part of what we are earning. The bank has introduced the ‘Watoto Account’ to encourage as many parents as possible cultivate the culture of saving for their children.”

The bank has 17 branches countrywide. Six of the branches are located in the Lake Zone; three in the Northern Zone; five in Eastern Zone, and one in Songwe Region.

Plans are afoot to open new branches in Dodoma and Morogoro regions early next year.

Of recent, Azania Bank – operating in close collaboration with social security schemes – started working on President John Magufuli’s call to invest in industries.

Some of the social security funds are the main shareholders in Azania Bank, commanding 98 per cent of the bank’s shares. The East African Development Bank has 1.5 per cent of shares while the remaining are in the hands of some 48 small shareholders.

Social security funds have a combined assets base of over Sh9 trillion.

Bank Limited has introduced a ‘Watoto Account.’

The aim is to encourage and enabling parents and guardians to help their children cultivate the saving culture, largely by contributing to the account – and regularly briefing them on what is going on.

The bank’s managing director (MD), Mr Charles Itembe, said in Dar es Salaam yesterday that the account means a lot as a catalyst in encouraging money saving for future use in the interests of today’s children, who are tomorrow’s adults. “The ‘Watoto Account’ serves as additional savings for children. It is an account that has four special periods for withdrawing the money in a year,” Mr Itembe said, adding that the account is bound to be very useful to parents.

Noting that the bank has designed the account in such a way that it meets all the requirements of children now and well into the future, the MD revealed that the account can be opened by depositing only Sh50,000 – and there is no service charge for operating the account.

“To open the account for the child, a parent is only supposed to produce the child’s birth certificate. When the child turns 18 years of age, he/she ‘graduates for processing the account” on his/her own, Mr Itembe stated. He used the opportunity to appeal to parents all over the country to rush and open accounts for their children, as this is one of the best ways to plan for a bright future for them.

“Life in the current situation compels all of us to save for our kids part of what we are earning. My bank has decided to introduce the ‘Watoto Account’ to encourage as many parents as possible cultivate the culture of saving for their children,” he explained.

Azania Bank has 17 branches scattered countrywide. Six of the branches are located in the lake Zone; three in the Northern Zone; five in Eastern Zone, and one in Songwe Region.

Plans are afoot to open new branches in Dodoma and Morogoro Regions early next year.

The bank not only provides mobile banking services to its customers; it also provides digital services 24 hours a day, where customers do not need to physically go to its banking halls at the branches because of the state-of-the-art technology.

Of recent, Azania Bank – operating in close collaboration with Social Security Schemes in the country – started working on President Magufuli’s ambitious call to invest in industries.

Indeed, some of the social security funds in Tanzania are the main shareholders in Azania Bank, commanding 98 per cent of the bank’s shares. The East African Development Bank has 1.5 per cent shareholding, while the remaining are in the hands of some 48 small shareholders.

Incidentally, current statistics have it that the social security schemes in the country together have a combined assets base worth over Sh9 trillion.

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Tuesday, November 7, 2017

Production of food, cash crops shows improvement in Singida

 

By Valentine Oforo @TheCitizenTz news@tz.nationmedia.com

Production of food crops in Singida Region has gone up with yields climbing from 453,097 tonnes to 481,452 tonnes between 2013/2014 and 2015/2016.

Production of cash crops has also seen an improvement over the same period, marking a climb from 184,006.1 tonnes to 293,878 tonnes.

This was said by deputy minister of Agriculture, Dr Mary Mwanjelwa, in the Parliament early on Tuesday, November 7, 2017.

She was responding to a question from Mr Yahaya Massacre (Manyoni West-CCM) who wanted to know whether there have been efforts to improve production of food and cash crops in Singida.

"There have been various plans by the government to improve food production in the country. To what extent have these interventions, including Kilimo Kwanza, have improved the performance of the crucial sector in Singida?” he asked.

In her response, Dr Mwanjelwa added that the government was formulating strategies to assist farmers across the country.

According to her, the plan included a special plan to sensitize farmers to join groups in order to stand a chance of receiving loans to expand their farming projects.

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Tuesday, November 7, 2017

Dar bourse’s turnover down 80pc

By Alex Malanga @ChiefMalanga amalanga@tz.nationmedia.com

 The Dar es Salaam Stock Exchange (DSE) turnover dropped to Sh3 billion in the week ending November 3, down from the previous week’s Sh20 billion. However, Zan Securities Ltd chief executive officer Raphael Masumbuko is optimistic the market would improve in the near future.

The bourse’s data shows 3.5 million shares were transacted last week from 1.6 million the previous week.

The Tanzania Cigarette Company (TCC) counter accounted for 41 per cent of the market share last week, followed by those of Tanzania Breweries Ltd, CRDB Bank and Vodacom at 27, 16 and 11 per cent respectively.

TCC share prices appreciated by 7.69 per cent to close the week at Sh16,800.0, according to Zan Securities Limited. The Dar es Salaam Stock Exchange Plc share prices appreciated by 1.67 per cent to close at Sh1,220.

KA and JHL share prices sank by 8 per cent while those of CRBD and TBL fell by 5.9 and 5 per cent respectively, dragging down the total market capitalisation by 1.1 per cent to Sh20.2 trillion.

The decrease in share prices for CRDB and TBL also depressed the domestic market capitalisation by 1.1 per cent, closing at Sh10.1 trillion.

“We look forward for the market recovery…high demand in industrial and allied sector attributed to foreign investors may lift prices and volumes,” said Mr Masumbuko told The Citizen.

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Friday, October 27, 2017

TPB, Mwalimu Bank team up to boost service provision

 

By By Alex Malanga @ChiefMalanga amalanga@tz.nationmedia.com

Dar es Salaam. The Dar es Salaam-based Mwalimu Commercial Bank Plc (MCB) has extended its reach to more parts of the country, doing so through a strategic partnership with TPB Bank Plc (TPB).

MCB chief executive officer Ronald Manongi said in Dar es Salaam yesterday that the bank had embarked on a strategic partnership scheme to enable its customers to enhance their business operations through having additional channels for ordinary business activities. The MCB/TPB partnership “is in line with our (MCB) bank’s vision of delivering services to where our customers are located,” Mr Manongi said, adding that “the strategic collaboration is one of many channels that are being considered to enable the bank to implement its strategy aimed at increasing customers’ access to services – and also support the economic growth of the nation.”

The partnership will also ensure customers’ transactions are more secure as automation will eliminate errors originating from manual transactions.

To elaborate, the two banks have created a common platform that connects MCB with all TPB Bank branches across Tanzania. In the event, both facilities have taken all measures needed to ensure a high level of security on their platforms, thereby giving comfort to customers on the safety and confidentiality of their transactions.

For example, Mr Manongi said, when funds were deposited in a TPB account anywhere in the country, the amount was just as soon reflected in the appropriate account as if the customer had actually called at the MCB branch in person. For his part, TPB chief executive officer Sabasaba Moshingi hailed the partnership, averring that his bank’s customers would also benefit from the arrangements.

“Some of our customers carry out their business activities with MCB account holders. This initiative will, therefore, further enhance business activities among account holders of the two banks,” the TPB CEO stated.

‘Confessing’ that he was pleased with the partnership, Moshingi noted that his bank already has a wide operational network across the land.

“Our bank has over 30 full-fledged branches in Tanzania,” he said, adding that “our partnership with MCB will cover all the regions where our branches are located.”

At the end of the day, the two banks’ officials together called upon their customers in particular, and the general public at large, to leverage on the partnership so as to enhance their business activities.

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Friday, October 27, 2017

Halotel TZ’s $800m investment wins international praise

 

By By Alfred Zacharia @TheCitizenTz azacharia@tz.nationmedia.com

Dar es Salaam. Organizers of the International Business Awards (Stevie Awards 2017) have named Viettel Tanzania PLC (Trading as Halotel Tanzania) as the “Fastest Growing Enterprise in the Middle East and Africa”, thanks to its $800 million (about Sh1.7 trillion) investment.

Halotel said in a statement yesterday that the company was named as so during an event that was held in Barcelona, Spain on Tuesday this week. Halotel has operated in Tanzania for two years now during which period, it has registered a number of achievements.

Launched in October 2015, Halotel managed to register about one million subscribers in a period of about three months.

“The figure reached two million within nine months of our operations….This is the fastest customer growth rate among all markets – from Vietnam, the Middle East and up to the entire Sahara and East Africa - where Viettel Group has invested,” the Halotel Tanzania deputy managing director, Mr Nguyen Van Son, said yesterday.

In two years, Halotel now has over 3.5 million customers, ranking the fourth among eight telecoms operators in Tanzania, leapfrogging some of the operators that have existed for a much longer period.

The company boasts itself for building one of the largest telecommunications infrastructure in Tanzania in just nine months, helping it to cover 90 per cent of the country’s population. Michelle Galler, the representative of the Stevie Awards 2017, said: “Since its first appearance, Viettel has always been a company with different products and campaigns. Viettel’s subsidiaries in the African market are thriving. “

The International Business Awards (Stevie Awards) is one of the world’s leading annual awards to honor the achievements and positive contributions of businesses and individuals worldwide to the benefits of the community, including IT and telecommunications. To be honored, candidates undergo a scrutiny of 200 judges who are mostly chief executive officers and world-renowned entrepreneurs. The name “Stevie” comes from a Greek word for ‘Crowned”.

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Friday, October 27, 2017

TBL takes new model to boost growth



BL Group’s managing director Roberto Jarrin

BL Group’s managing director Roberto Jarrin 

By By The Citizen Reporter @TheCitizenTz news@tz.nationmedia.com

Tanzania Breweries Limited (TBL) Group has changed its operational model as it targets to grow its market amid shifting sentiments.

Speaking at the Second Ministerial Dialogue with the Private Sector in Dar es Salaam on Tuesday, the TBL Group’s managing director Roberto Jarrin said the company decided to tilt its model – by paying much attention on affordable brands - so as to align itself to new economic realities.

“With the existing market conditions, the company had previously been growing at the rate of negative 0.3 per cent. We were therefore forced to re-think our operating model and realign it to the realities of the market,” he said during the dialogue.

The dialogue was hosted by the Minister of Finance and Planning, Dr Philip Mpango and his Industry, Trade and Investment counterpart, Mr Charles Mwijage, in Dar es Salaam. It was a follow up to a similar gathering that was held in Dodoma early this year.

Christened “The Sate of Doing Business in Tanzania”, the gathering so participants discussing several issues that seek to improve the business climate in the country.

Mr Jarrin, who doubles as president for AB-inBev (TBL Group’s parent company) in East Africa, said as a result of the change in tack, TBL’s business started to grow by 20 per cent since June this year. “We are optimistic that this growth will continue and we are looking to invest in increased production capacity to cater for this because our plants are currently operating at maximum capacity,” he said.

The growth, he said, was mainly being driving by affordable brands and packs segment which are primarily sorghum based.

“The affordable segment of our market which essentially sources its growth from the informal sector, is price sensitive and for us to invest in a new brewery, we would like to work with the Government of Tanzania to create a stable and predictable excise regime. Increased production volumes will in turn translate into increased revenue collection,” he said.

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Friday, October 27, 2017

Sagcot opens Mbarali cluster today to boost agriculture

 

By The Citizen Reporter

Mbarali. To meet government expectations of transforming a tract equal to the size of Italy into a promising agro-industrial territory, the Southern Agricultural Growth Corridor of Tanzania (Sagcot) today opens Mbarali Cluster in Mbeya, the second in the corridor. Sagcot head of Cluster Development, Ms Maria Ijumba, told reporters yesterday that the launch was expected to be graced by the minister of Agriculture, Dr Charles Tizeba (pictured), at Mkapa Hall in the city. The launch of the second cluster is a triumph of peasants, she declared. “Advanced farming, that primarily benefits peasants, is gaining greater geographical area in the corridor.” (The Citizen Reporter) it is a victory of

peasants and the nation as whole,” she said.

She said an operational area for Sagcot partners is increasing and sequel to this agricultural productivity is going up and peasants are getting more knowledge and experience on commercial farming.

“The logic behind having clusters is to bring together the government and private sector so that the pair line up a common effort to help peasants move from crippling traditional farming to beneficial

commercial farming. (The Citizen Reporter)

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Friday, October 27, 2017

No plan to sell Nakumatt TZ operations to Manji: official

 

By By Alfred Zacharia @TheCitizenTz azacharia@tz.nationmedia.com

The Nakumatt Tanzania saga took a new twist yesterday as the company’s management distanced itself from reported negotiations with tycoon, Yusuf Manji.

On Tuesday, the chairman of hundreds of suppliers, who are owed billions of shillings in arrears by Nakumatt, Mr Joseph Mlay, revealed that Mr Manji was in talks with the giant retailer to take over the business in the country.

A representative of Mr Manji’s Quality Group Limited (QGL), Mr Monish Mohandas, confirmed to The Citizen that there had been talks between the tycoon and the Nakumatt management over a possible buyout for the retailer’s Tanzania operations.

But in an interesting turn of events, the assistant country manager for Nakumatt Supermarket in Tanzania, Mr Alfrick Milimo, said yesterday that there was nothing to that goal.

“I don’t know of such talks. There are no discussions between Nakumatt and Mr Manji…All I know is that as Nakumatt, we have a lot of internal meetings to find a lasting solution to challenges that we are going through,” he told The Citizen.

He said internal meetings centred on how to pay rent and re-open the business at its Mlimani City and Arusha outlets.

“We have no plan to sell the supermarket to anyone because we still have muscles to run the company. We only need to settle our differences with landlords,” he said.

He noted that the retailer was currently struggling to regain trust of its suppliers and landlords due to ongoing financial challenges in the company.

“In fact, rumours of Mr Manji showing interest in buying out Nakumatt are not new. They started two years ago after the closure of Uchumi Supermarket…There was a time Nakumatt wanted to rent in Quality Group’s Quality Centre Mall and that was how all this started. Otherwise, there has been nothing with regard to buyout plans,” he insisted.

In November last year, when Nakumatt Tanzania sold its 51 per cent of the stake to grow capital base, the rumours started to resurface.

“With suppliers losing hope in our operations, they hurriedly thought the company had finally been sold and that is how these things are coming through,” he said.

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Tuesday, September 26, 2017

Japan-backed project to benefit 100 Tanzanian industries

Permanent Secretary in the Ministry of

Permanent Secretary in the Ministry of Industry, Trade and Investment, Dr Adelhem Meru 

By By Gadiosa Lamtey @gadiosa2 glamtey@tz.nationmedia.com

Dar es Salaam. The second phase of a project that seeks to strengthen manufacturing and productivity improvement in Tanzania will benefit a total of 100 industries, initiators have said.

The project – supported by Japan International Cooperation Agency (Jica) through its Kaizen initiative – will cover industries located in five regions in a period of two years, the Permanent Secretary in the Ministry of Industry, Trade and Investment, Dr Adelhem Meru has said.

The Kaizen project intends to add value to industrial production in Tanzania.

“This time around, the project – which ends in 2020 – will cover Arusha, Kilimanjaro, Mwanza, Mbeya and Singida regions,” Dr Meru said during the official launch the Kaizen Project on Tuesday.

Some 52 enterprises from Dar es Salaam, Morogoro and Dodoma have benefited from the project during its first phase.

According to Dr Meru, industries involved are now reporting improved productivity to the extent that others are even exporting their products to other countries.

The first phase of the Kaizen Project was conducted between 2013 and 2016. It aimed at establishing a framework and the right methodology for improving productivity and quality of the products in a manufacturing enterprise.

"Introducing and promoting Kaizen in Tanzania is indispensable for successful industrialization of the country," said the Jica chief representative in Tanzania, Mr Toshio Nagase.

During the second phase, more focus will be on industries that deal in health and agricultural sectors. The word "Kaizen" originally comes from a Japanese language, directly translated as "Change to betterment" and simply refers to a "practice of continuous improvement of quality and productivity".

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Tuesday, September 26, 2017

Solar plant, lab set to simplify learning

 

By By The Citizen Reporter @TheCitizenTz news@tz.nationmedia.com

The Kilimanjaro International Institute for Telecommunications, Electronics and Computers (Kiitec) now has a 30KW solar power plant and solar laboratory at its training centre in Moshono, Arusha.

Launching the solar power plant and solar laboratory at the weekend, Kiitec director of studies Daniel Mtana said the move would foster the institute’s vision of becoming the centre of training excellence for renewable energy, particularly solar photovoltaic systems in East Africa.

“With our commitment to true hands-on experience, Kiitec has now invested heavily in photovoltaic solutions and strives to be recognised as the premier provider of quality technical education in a student-centred community,” he said.

French Ambassador to Tanzania Malika Berak graced the solar power plant and solar laboratory inauguration event at the weekend.

Others in attendance were partners supporting Kiitec for many years, including the Schneider Electric East Africa, the Schneider Electric Foundation, ADEI, EDF Help and the Foundation for Technical Education (FTE).

Schneider Electric East Africa general manager Edouard Heripret said in most sub-Saharan countries, with lower levels of enrolment in formal secondary technical and vocational training and education across the continent, it was sensible for students to have competencies to enter the labour market. He said Schneider Electric was building sustainable communities through energy knowledge and leadership, thanks to the Schneider Electric Foundation. “The aim,” he said, “is to contribute to the development of people and societies through education, innovation, awareness-raising and vocational training related to energy.”

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Tuesday, September 26, 2017

TBL share snap up leads DSE into record turnover

 

By By Alex Malanga @ChiefMalanga amalanga@tz.nationmedia.com

Foreign investors snapped up Tanzania Breweries Limited (TBL) shares last week to send the weekly turnover at the Dar es Salaam Stock Exchange (DSE) to a record performance for the year 2017.

The brewer transacted 2,787,884 shares on pre-arranged basis to contribute Sh37.636 billion on Thursday as investors maintain a bullish outlook for the company’s profitability prospects despite its recently announced drop in annual profit.

That was after foreign investors also snapped up a total of 1,138,720 shares for TBL on both pre-arranged and normal market boards to contribute a cool Sh15.373 billion to Wednesday’s turnover. Data compiled by Zan Securities Limited show that the weekly turnover of Sh53.53 billion for last week was a record performance for the DSE in 2017. It rose from Sh5.46 billion during the week ending September 15, 2017.

Recently TBL Group – which consists of TBL, Tanzania Distilleries Limited (TDL) and Darbrew – announced that its profit shrank by 29 per cent to Sh161.44 billion during the year ending March 31, 2017 compared to a similar period last year.

The company attributed the fall to the government’s recent ban on importation, manufacturing, selling and consumption of alcohol contained in sachets and an overall challenging economic environment.

That notwithstanding, the company accounted for 99 per cent of the total turnover at the DSE last week.

Last week, a total of 4.4 million shares were traded, well above the previous week’s 2 million shares, with TBL accounting for 2.5 million shares. Top gainer during the period was TBL ticker, appreciating in value by 0.75 percent to close off the week at Sh13, 400 per share.

Orbit Securities General manager Simon Juventus said TBL’s good performance was largely contributed by long term buyers in view that the company would in the future perform better.

“Potential buyers who invest in long –term doesn’t not think of today but tomorrow with the hope that business environments will change,” noted Mr Juventus.

Total market capitalization increased 1.45 percent, closing this week at Sh20.5 trillion. Domestic market capitalization increased by 0.29 percent, closing this week at Sh9.67 trillion.

The increase, according to DSE, was significantly contributed by increase in share prices for Kenya Airways, USL and KCB by 20 per cent, 12.5 per cent and 9 per cent respectively.

Domestic market capitalization increased by Sh27 million to Sh9.67 trillion partly due to a 0.75 per cent increase in TBL share price.

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Tuesday, September 19, 2017

Government tells private sector to invest in aviation

 

By By Alex Malanga @ChiefMalanga amalanga@tz.nationmedia.com

The government has called on private sector players to invest in aviation industry in expanding and modernising the sector’s infrastructure.

The call was made on Tuesday, September 19, by the Minister for Works, Transport and Communication, Prof Makame Mbarawa.

He was speaking at the opening of the two-day National Civil Aviation Forum which brought together stakeholders to discuss how to develop the sector.

Prof Mbarawa said the government was in need of investors who would invest in modernisation and expansion of airport infrastructures.

Most of the country's airports demand modernisation and expansion to accommodate more aircrafts, according to Prof Mbarawa.

"We can't do much unless we work together with serious investors from the private sector," he warned.

"I don't need investors who are coming to my office and talk too much but rather those who are action-oriented with interests of taking the country's aviation industry to the next level," he added.

Meanwhile, he said Julius Nyerere International Airport (JNIA) terminal three would be open in September next year.

Once the terminal starts operations, the Dar es Salaam-based airport will be attracting 6.4 million passengers per year compared with 2.5 million attracted by JNIA (terminal two).

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Tuesday, September 19, 2017

Passengers to fly free in Qatar Airways’ new global promo

 

By By The Citizen Reporter @TheCitizenTz news@tz.nationmedia.com

Passengers with Qatar Airways may chance to fly for free if they win in the airline’s new promotional drive, the company has announced.

Dubbed ‘Global Travel Boutique’, the promotion offers passengers from around the world fare deductions on flights in both Economy and Business Class as well as the opportunity to win once-in-a-lifetime Mega prizes which gives them a chance to fly free to any of the airline’s destination for one year, Qatar Airways said in a statement this morning.

Valid from 12 to 19 September, the promotion will offer discounts of up to 35 per cent on fares in both Economy and Business Class, as well as special companion fares and discounted group bookings. Passengers who book from 12 through 19 September will be entered into a draw to win nine chances to fly free for a year to any Qatar Airways destination.

Other prizes include a Platinum Privilege Club Membership, complimentary upgrades to Business Class and a complimentary three-night stay at MarsaMalazThe Pearl Kempinski Hotel in Doha.

The Qatar Airways Chief Commercial Officer, Mr Ehab Amin, said: “We are delighted to offer this spectacular promotion - our biggest commercial promotion to date - following the success of our previous Travel Festival campaigns. Our passengers now have the chance to choose from a variety of incredible packages and discounts on fares in both Economy and Business Class, in addition to the chance to win incredible prizes.”

Daily prizes will include vouchers for upgrades to Business Class; up to 100,000 Qmiles in Business Class and 50,000 in Economy class; an upgrade to Privilege Club Silver and Gold status; free hotel stays in premium hotels in Doha; vouchers for Qatar Duty Free (QDF) and complimentary lounge access at Hamad International Airport.

 

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Tuesday, September 19, 2017

Dar-Chalinze expressway tender to be advertised next month

 

By By Rosemary Mirondo @mwaikama rmirondo@to.nationmedia.com

 The government will announce the tender for the construction of the Dar es Salaam and Chalinze in the Coast Region next month, a cabinet minister has said.

The Minister for Works, Transport and Communication, Prof Makame Mbarawa told participants to the 8th East and Central Africa Roads and Rail Infrastructure Summit 2017 that the government wants to partner with serious investors in the project.

"We will announce the tender for the project next month. We need serious investors to apply for the job,” he said, calling upon delegates to apply when the tender is announced.

He said the government alone cannot fund all of the country’s massive infrastructure needs, calling upon the private sector to support it.

Other mega infrastructure projects on the government’s cards include the second phase of the Dar es Salaam Rapid Bus Transport and the construction of the Standard Gauge Railway line.

According to him, the investor was currently on the ground working on the Dar es Salaam to Morogoro 205 km

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Tuesday, September 12, 2017

Azania Bank boss shows the way to industrialize Tanzania

The chief executive officer for Azania Bank, Mr

The chief executive officer for Azania Bank, Mr Charles Itembe speaks at a past event. PHOTO|FILE 

By By Peter Saramba @petersaramba psaramba@tz.nationmedia.com

A banker has urged the government to invest massively in power supply, technological development and human resources if the country’s industrialization goal is to take shape.

The chief executive officer for Azania Bank, Mr Charles Itembe said industrialization at the weekend that industrialization requires proper infrastructure and improvement in several aspects related to the business climate.

"Sustainable infrastructures such as railways systems and roads must be strengthened to ease transportation of raw materials and finished goods from and to rural and urban areas," Mr Itembe told the bank’s stakeholders in Mwanza at the weekend.

He mentioned other key issues to be addressed by the government as good investment environment through legal and tax systems, price stabilization and domestic market expansion.

His bank, he said, has opened a special window that specifically caters to the needs of the industrial sector, calling for other financial institutions in the country to support industrialization plans.

"The agricultural sector is an important tool for achieving industrialization and we must invest in industries that will consume agricultural raw materials," he added.

For his part, one of the bank’s clients who attended the event, Mr Zephaniah Mugasa, asked the bank to reduce interest rates to its customers, a request which Mr Itembe said will be implemented based on market conditions and interest rates from the Bank of Tanzania.

A prominent Mwanza Businessman Mr Christopher Gachuma asked financial institutions to support industrial development by investing on long-term loans for infrastructure construction companies due to late payment from the government and other public institutions.

The fifth phase of government is implementing industrial policy aiming to take the country to middle income come 2025.

Despite developing economic growth in the production and marketing of industrial products within and outside the country, the policy will also increase and promote employment, especially to youth.

 

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Tuesday, September 12, 2017

Vodacom share price now drop to Sh770

The Finance and Planning Minister, Dr Philip

The Finance and Planning Minister, Dr Philip Mpango rings a bell to signal the Vodacom Tanzania’s listing on the DSE on August 15. Others are Vodacom Tanzania managing director Ian Ferrao (left) and the board chairman for the Capital Markets and Securities Authority, Mr John Mduma. PHOTO|FILE 

By By The Citizen Reporter @TheCitizenTz news@tz.nationmedia.com

A share for Vodacom Tanzania (Voda) has dropped by 9.4 per cent during the past three weeks to send losses to investors who bought the equities during the Initial Public Offering (IPO).

The firm’s share, which went for Sh850 during the IPO period, is now trading at a weighted average price of Sh770 at the Dar es Salaam Stock Exchange (DSE).

This suggests that one - who bought a total of 1,000 shares at a total cost of Sh850,000 during the IPO period and decided to sell them yesterday - may have lost at least Sh80,000 during the period.

Signs that the price for Voda share would go down started to show during the first of the firm’s trading at the DSE on August 15 when the price rose by a mere 5.88 per cent to trade at Sh900.

But analysts are of the view that the situation would change as soon as investors complete analyzing the market trends.

“Currently, investors are still analyzing the market trends. This may take up to two weeks after which, the price may either rise or fall,” the general manager for Orbit Securities, Mr Juventus Simon, said a few weeks ago.

Vodacom became the first company to comply with the Electronic and Postal Communications Act (Epoca) of 2010 - and its various amendments - which required telecommunication firms to offload 25 per cent of their chares to the community via IPOs.

Vodacom this issues what came to be the largest IPO in the history of Tanzania by raising Sh476 billion.  Over 41,000 Tanzanian investors – both retail and institutions - subscribed 60 per cent of the company’s 560 million shares offered and the remaining 40 per cent were all taken by South Africa’s PIC which became the underwriter after the offer was extended the second time.

On Monday, the Voda counter transacted a total of 6470 shares at a weighted average price of Sh770, market data show.

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Tuesday, September 12, 2017

Zuku’s internet services come to Dar

By By Rosemary Mirondo @mwaikama rmirondo@tz.nationmedia.com

Wananchi Group of Companies has launched its fast internet services in Dar es Salaam today.

Known as Zuku Fire, the company’s internet speed will go up to 100Mbps, according to chief executive officer, Thomus Hintze.

Zuku Fire will be distributed via Zuku Fibre, a leading provider of Fiber to the Home (FITH) internet services across in East Africa.

The service, according to Mr Hintze, provides Triple Play packages including internet,
digital television and telephone.

In addition to internet access, it also provides a bouquet of digital television and a telephone line for the home which offers free calls.

"The service is designed to meet customer needs through online content such as short videos, movies though one package,’ he said.

The launch in Dar es Salaam means that the service will now be available in Msasani, Mikocheni, Kawe, Mbezi Beach and Upanga suburbs as well as in other areas across the central business district.

According to Mr Hintze, the service will be rolled out to other regions including Dodoma, Mwanza and Arusha depending on demand.

“Reports show that data consumption in Tanzania is three times higher than in Swaziland and that is why we have come up with the service to make life easier,” he said.

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Thursday, August 17, 2017

Vodacom Tanzania appoints Mufuruki as chairman

 

By The Citizen Reporter @TheCitizenTZ news@tz.nationmedia.com

Dar es Salaam. Vodacom Tanzania PLC has appointed businessman Ali Mufuruki as board chairman with effect from 01 August.

The mobile network operator listed its shares on the Dar es Salaam Stock Exchange on Tuesday after completing the initial public offering (IPO) which was fully subscribed to raise Sh476 billion as planned.

Mr Mufuruki succeeds Mr Vivek Mathur following his recent resignation, the company said in a statement published on Thursday.

Non-executive directors, including the chairman, are appointed in accordance with the company’s articles of association and in line with corporate governance guidelines issued by Capital Markets and Securities Authority (CMSA).

“Mr Mufuruki brings with him a wealth of experience and influence from years of service in and out of the country,” stated Vodacom Tanzania’s chief executive officer Mr Ian Ferrao.

Mr Mufuruki is the founder and CEO of the Infotech Investment Group. “I look forward to facilitating collaborative working relationships with directors, management and other stakeholder groups to deliver on the board’s mandate,” stated Mr Mufuruki.

Vodacom also welcomed three new interim directors from Vodacom Group representing majority shareholders. These include Shameel Joosub (Vodacom Group ceo), Till Streichert (Vodacom Group chief financial officer), and Matimba Mbungela (Vodacom Group Human Resources director).

Directors representing minority shareholders will be appointed during the company’s annual general meeting where the board will be fully re-constituted.

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Wednesday, May 31, 2017

Companies listed on must obey laws: DSE



DSE chief executive Moremi Marwa

DSE chief executive Moremi Marwa 

By Rosemary Mirondo @mwaikama rmirondo@tz.nationmedia.com

Dar es Salaam. Companies listed on the Dar es Salaam Stock Exchange (DSE) have been told to comply with laws and market regulations.

DSE chief executive Moremi Marwa said during the Sustainability Reporting and Compliance Forum here yesterday adherence to continuing listing obligations brings harmony to the stock market.

It also prevents the establishment of a false market of the listed companies.

According to him, true information enables shareholders to appraise

positions of the companies based on their true pictures, which are approved by the bourse.

His comments come hard on the heels of a government report, which accused

Acacia Mining of under-reporting the mineral content in its exports.

The government also vowed to maintain its ban on exports of gold and copper concentrates.

An investigation by President John Magufuli’s committee found that the value of minerals within Acacia’s concentrates in containers at the Dar es Salaam Port was more than 10 times the declared amount

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Wednesday, May 31, 2017

Herders lose heavily for lack of hide plant

By Citizen Reporter @TheCitizenTz news@tz.nationmedia.com

Mpanda. There is huge business opportunity in the processing of hides, most of which are currently discarded due to lack of processing plants.

Livestock dealers in central and western regions are reportedly losing billions of money in the wasted animal products, which they cannot sell.

Mpanda-based livestock dealer Fadhili Makororo has decried the absence of processing facilities for hides, saying he loses between Sh600,000 and Sh800,000 daily in the wasted hides, translating into between Sh18 million and Sh24 million, monthly.

“I averagely slaughter 10 cattle, which produce between 300 and 400 kilogrammes of hides daily,” Mr Makororo said here recently, giving Sh2,000 per kilogramme as the latest prevailing market price for the raw materials.

“Unfortunately, there are no buyers and we are compelled to throw away all the cowhides, losing billions of shillings,” complained the Mpanda-based entrepreneur and beneficiary of the Private Agricultural Sector Support (Pass) guaranteed credit facilities.

Assuming 500 cattle are daily slaughtered in Katavi, it means the region loses between Sh900 million and Sh1.2 billion, monthly.

He says he started with a Sh20 million Pass guaranteed loan from CRDB Bank in 2011 and has increased his business to qualify for the Sh750 million loan last year. “I highly appreciate Pass, which has economically liberated me.” He says before signing for a Pass guarantee, the bank could hardly lend him Sh20 million and his business remained low, employing only six persons. “But, today my business has expanded, with 60 people in my payroll.”

Mr Makororo who buys and fattens cattle for resale and slaughter has expanded his business to 1,000 cattle from the previous animals that ranged between 80 and 100.

Pass Western Zone manager Faustine Mungo, responding to concerns over the hide processing plant, advised entrepreneurs to organise themselves and invest in the facility, which does not cost much. “You can start with a medium facility that goes for about $100,000 (about Sh223 million) but once you have installed it, you will mint money by producing a lot of highly priced leather products,” he said, signaling the trust’s willingness to guarantee the loan should the demand arise.

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Wednesday, May 31, 2017

Private sector needs more EPZs for industrialisation

Export Processing Zones Authority director

Export Processing Zones Authority director general Joseph Simbakalia speaks during the Tanzania Private Sector Foundation’s annual general meeting in Dar es Salaam yesterday. PHOTO | OMARI FUNGO 

By Ludger Kasumuni @TheCitizenTz lkasumuni@tz.nationmedia.com

Dar es Salaam. The private sector has pleaded with the government to create more special economic and export processing zones in an effort to industrialise Tanzania.

Tanzania Private Sector Foundation (TPSF) executive director Godfrey Simbeye said fewer SEZs mean that only a few businesses benefit from tax and non-tax incentives.

He was speaking here during the annual general meeting yesterday.

TPSF members that operate in special economic zones (SEZs) are exempted from paying taxes and other dues for machinery, equipment, heavy duty vehicles, building and construction materials and any other capital goods to be used for developing the SEZ infrastructure.

They are also exempted from paying corporate tax for the first 10 years among others incentives.

“The TPSF chairman [Reginald Mengi] has written a letter to the responsible authority within the government with a view to increase the number of SEZ/Export Processing Zones (EPZs) as a way of helping the growth of the private sector,” said Mr Simbeye.

He said the creation of more SEZs/EPZs is one of the issues that the private sector has forwarded to the government under the public- private partnerships.

“Asian countries like China, India, Malaysia, Indonesia, Singapore and Vietnam have developed due to economic zones… In Africa, countries like Ethiopia, Ghana, Kenya, Rwanda and Uganda have made great strides in building strong industries through this way,” he said.

Meanwhile, TPSF vice chairman Salum Shamte launched the foundation’s report of 2016 on Tanzania’s Political Economic Analysis.

It focuses on how political and economic conditions have favoured powerful political interests at the expense of the private sector development. He said although the country had ample investment opportunities, the business environment gives little chance for businesses to flourish.

He said it was due to the government’s failure to meet its pledges that Dangote Cement had been unable to invest the $600 million as planned.

“If the government were to meet the pledge of providing cheap energy from natural gas, the company would have invested the entire amount as planned,” he said.

Responding to the issues report blames inability of the government to improve further business environment through PPP.

In his remarks, the EPZ Authority (EPZA) director general, Col (rtd) Joseph Simbakalia said the government is currently working on establishing an industrial park in Bagamoyo.

the private sector has forwarded to the government under the public- private partnerships.

“Asian countries like China, India, Malaysia, Indonesia, Singapore and Vietnam have developed due to economic zones… In Africa, countries like Ethiopia, Ghana, Kenya, Rwanda and Uganda have made great strides in building strong industries through this way,” he said.

Meanwhile, TPSF vice chairman Salum Shamte launched the foundation’s report of 2016 on Tanzania’s Political Economic Analysis.

It focuses on how political and economic conditions have favoured powerful political interests at the expense of the private sector development. He said although the country had ample investment opportunities, the business environment gives little chance for businesses to flourish.

He said it was due to the government’s failure to meet its pledges that Dangote Cement had been unable to invest the $600 million as planned.

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Wednesday, May 31, 2017

Twiga dividend drops by 11pc

 

By Gadiosa Lamtey @gadiosa2 glamtey@tz.nationmedia.com

Dar es Salaam. Tanzania Portland Cement Company Limited – which trades as Twiga – has reduced its dividend payout for this year in response to declining sales revenues in the wake of a growing competition among cement makers.

Shareholders will receive a dividend of Sh270 per share from the company’s 2016 proceeds, down from Sh306 which was given out last year from 2015 proceeds, its financial results show.

“Sales volume decreased by Sh10 billion due to pressure on sales…Operating profit dropped by 27 per cent to Sh53.8 billion….the board therefore proposes a dividend for 2016 of Sh270/share compared to Sh306 for the previous year,” Twiga Cement board chairman Alfonso Rodriguez told the company’s annual general meeting here yesterday.

Total revenue dropped from Sh277.2billion in 2015 from Sh287.9billion last year, largely due to pricing pressures, necessitated by increasing competition from new players, according to managing director Alfonso Velez. The company is, however, optimistic that despite the complex business environment and competitive market, it will wither the storm and deliver better return for its shareholders.

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Monday, May 29, 2017

Hope as PM visits site of Sh670bn power project

Prime Minister Kassim Majaliwa speaks to the

Prime Minister Kassim Majaliwa speaks to the Export Processing Zones Authority director general, Colonel (retired) Joseph Simbakalia (right) in Bagamoyo during his recent visit to the Kamal Industrial Estate. PHOTO|THE CITIZEN CORRESPONDENT 

By Citizen Reporter @TheCitizenTz news@tz.nationmedia.com

Dar es Salaam. A city based company, Kamal Group is now looking forward to investing a total of $300 million (about Sh670 billion) into an electricity generation project, The Citizen has learnt.

The optimism comes after Prime Minister, Kassim Majaliwa visited the project site in Bagamoyo last week in which he directed Tanzania Electric Supply Company Limited (Tanesco) to sit down and finalise negotiations with Kamal Power Limited, a subsidiary of Kamal Group.

The Sh670 billion, to be invested into the project, will see Kamal Power producing 225MW of electricity from gas from the Kamal Group’s Industrial Estate in Bagamoyo in the Coast Region.

The project has been delayed due to long-winded negotiations involving Kamal Power Limited and Tanesco.

Recognizing the importance of the project, Mr Majaliwa, accompanied by Industry, Trade and Investment Minister, Mr Charles Mwijage and other senior government officials visited Kamal Industrial Estate on Tuesday last week and directed Tanesco managing director, Dr Tito Mwinuka to swiftly organize a meeting with Kamal Power Limited so they can speedily conclude the negotiations.

“The government is serious with its industrialisation agenda and will not tolerate issues that hinder Tanzania’s industrial take off,” Mr Majaliwa said.

The planned power plant is a joint venture between Kamal Group and India’s Shapoorji Pallonji Group. The two companies will produce 225MW of electricity and sell it to Tanesco under the Power Purchase Agreement that is currently being negotiated.

The project has already received the Environment Clearance and is in advanced stage of development.

Currently, three industries are already producing various products at the Kamal Industrial Park, employing a total of 50 people directly and around 300 people indirectly.

These include the Kamal Acetylene Ltd, the Move Max Refinery and CHICO.

Speaking at the event, the regional commissioner for the Coast Region, Mr Everest Ndikilo said unreliability of power supply was a major challenge facing industries in the region and called upon Tanesco to improve the situation.

In his remarks, Mr Mwijage said Tanzania has a total of 393 large industries out of which, 84 are located in the Coast Region.

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Monday, May 29, 2017

Small-scale traders’ plea on passports

 

By Citizen Reporter @TheCitizenTz news@tz.nationmedia.com

Dar es Salaam. The requirement that one needs to have a passport in order to move outside the country is barring Tanzanian small-scale traders from accessing a wider market under the East African Community (EAC), The Citizen has learnt.

As a result, they are largely confined to Tanzania’s boundaries even as they are legally allowed to sell their products – under domestic terms – to Kenya, Uganda, Rwanda, Burundi and South Sudan under the EAC Common Market arrangement.

Speaking in Dar es Salaam yesterday, the chairman for an association that brings together operators of small businesses and petty traders – popularly known as Vibindo Society – Mr Gaston Kikuwi said as small-scale traders and business owners, they usually find it difficult to go through the bureaucracy of getting required passports.

He asked EAC member states to help them by allowing them to use national identification cards so they can be able to do cross-border trading within the region. Vibindo Society is an umbrella national association that represents over 50,000 small business persons across the country.

“The people of East African have their national identification cards which are acceptable by all countries……this could also be used in cross border trade once a small-scale trader lacks a passport,” he said.

Facilitation of the Small and Medium Scale Enterprises (SMEs) has been given emphasis as one of the vehicles for poverty reduction under Article 80 (1) (c) of the EAC establishment.

In order for majority Tanzanians to participate in the EAC cross border trade, Kikuwi said that the government needs to, among other things, speed up the process of providing the national identification cards.

Apart from identification challenge, Kikuwi mentioned other challenges facing them as little knowledge on how to trade across borders, bureaucracy of some public servants in borders and in check points as well as numerous taxes and levies charged by various organs including regulatory bodies. “The numerous and similar taxes levied on small businesses and traders by Local Government Authorities - from one district to another - coupled with multi-regulatory Authorities such as the Tanzania Food and Drug Authority (TFDA); Tanzania Bureau of Standards (TBS) and Occupational Safety and Health Authority pose a big challenge to cross border trade,” he said.

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Monday, May 29, 2017

TPB Bank, Jubilee sign deal on life insurance

By Majuto Omary @majutoy2k momary@tz.nationmedia.com

Dar es Salaam. TPB Bank has partnered with Jubilee Life Insurance Company Limited to introduce a new service that will enable all of the bank’s account holders to get a Life Insurance scheme.

Known as “Bima Maisha”, the new product seeks to protect and ensure continuity of any of client’s business activity in the event of death due to any cause, permanent disability and critical illness, according to the bank’s director of risk management and compliance, Mr Moses Manyatta.

“With this product, we want to ensure that during any disruption in their daily lives, we are there to lend a helping hand,” Mr Manyatta said.

In the event of death, he said, the bank will ensure the beneficiaries receive Sh5 million, and in the event the account holder has a funeral, the insurance company will give him/her Sh1 million to cater for funeral expenses.

In case he/she gets a permanent disability, the insurance company will give him/her Sh5 million while in the event of any critical illness, a total of Sh4 million will be issued out. According to the Jubilee Life Insurance Company general manager, Mr Kumar Sumit Gaurav, the company will settle all claims within a period of four hours within the time that a valid funeral claim is raised.

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Monday, May 29, 2017

Tabora group seeks Sh300m for honey production expansion

By Citizen Reporter @TheCitizenTz news@tz.nationmedia.com

Tabora. Uyui-based Mbola Millennium Savings and Credits Cooperative Society (Mbola-Saccos) is looking for about Sh300 million to acquire over 1,000 modern beehives for expansion of its honey production project.

The society’s chairperson, Mr Mbaya Kazumba, told a high powered delegation of heads of mission of the European Union in Tanzania recently that the group, with 375 modern beehives, envisages increasing the project through procurement of additional 1,000 facilities.

Mr Kazumba, speaking at Ilolangulu in Uyuyi district, appreciated the Private Agricultural Sector Support (Pass) credit guarantee that enabled the 190-member Saccos to get the bank loan for honey production. “Previously, we used to destroy forests to make beehives whose productivity however was extremely low, each producing an average of five litres of honey,” the chairperson told the 12-person Heads of Mission delegation, adding that with the modern beehives, productivity has increased to between 15 and 20 litres per beehive.

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Monday, May 22, 2017

CRDB plans 14-storey HQ

CRDB managing director, Dr Charles Kimei,

CRDB managing director, Dr Charles Kimei, speaks during the bank’s annual general meeting in Arusha at the weekend. PHOTO | CORRESPONDENT 

By Citizen Reporter @TheCitizenTz news@tz.nationmedia.com

Arusha. CRDB Bank will build a 14-storey headquarters building in Dar es Salaam as the country’s largest lender seeks to further enhance its image.

Currently, the bank operates from six floors of a building that is located along Azikiwe Street in Dar es Salaam.

But the managing director, Dr Charles Kimei, told the bank’s shareholders during the 22nd annual general meeting (AGM) here at the weekend that the bank will soon build a modern building that portrays the true picture of CRDB’s status in the country.

“It will be an iconic building that will portray the bank’s status, as well as its vision and commitment to Tanzania’s economy,” he said, declining to reveal the actual amount to be injected into the project.

During the meeting, held at the Arusha International Conference Centre, shareholders noted with concern that CRDB – being the largest lender which controls 20 per cent of all assets and deposits out of Tanzania’s 58 financial institutions – need the kind of a head office that clearly describes its position in the market.

Some shareholders also proposed the need for lender to strengthen its presence in Dodoma where the government is relocating to.

But in response, Dr Kimei said the bank has already secured a plot close to Palm Beach in Dar es Salaam while in Dodoma, it has also acquired a plot.

“The plot in Dar es Salaam has already been cleared. We want to build a building that truly portrays CRDB’s status in the market,” he said.

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Monday, May 22, 2017

Mwananchi Communications enters top 20 superbrands

By Citizen Reporter @TheCitizenTz news@tz.nationmedia.com

Dar es Salaam. Mwananchi Communications Ltd (MCL) has entered the top 20 of consumer brands in Tanzania for 2017, the survey shows.

The results of Superbrands East Africa were released at the weekend following a comprehensive survey conducted by marketing experts and over 1,000 Tanzanian consumers based in Dar es Salaam, Arusha and Mwanza. According to the statement, new entries into the top 20 positions include Mwananchi Communications, University of Dar es Salaam, Chai Bora and Foma Gold while 10 other brands retained their positions in the list.

The process was managed by a London-based company, The Centre for Brand Analysis. Household and personal hygiene brands, Whitedent and Foma Gold have been voted as Tanzania’s leading Superbrands.

CRDB Bank and Toyota have both entered the top 20, with the former moving up one place to 11th and the latter up a more significant four places to 16th. Stephen Cheliotis, chief executive officer of The Centre for Brand Analysis said; “We continue to see reduced volatility in the Tanzanian market, with an increasing number of new brands entering the top 20 of the Tanzanian brand elite. These top brands are once again led by the impressive Household and Personal Hygiene brand Whitedent while Foma Gold comes second.”

He added: “there was however a big dip in the performance of some brands. The top 20 overall is a balanced blend of global brands such as Toyota and Pepsi as well as local brands such as Kilimanjaro drinking water and Chai Bora. As is evident, it is a mix set of results for these brands, with a considerable amount of volatility highlighting different winners over the period.”

Other brands which made the top 20 list of Tanzanian Consumer Superbrands 2017 include Panadol, ITV, Mlimani City, NMB, Vodacom, Konyagi, Clouds FM, Azam Uhai, M-Pesa, Hedex, Pepsi and Nakumatt.

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Monday, May 22, 2017

UTT, GEPF sign deal on informal sector loans

By Citizen Reporter @TheCitizenTZ news@tz.nationmedia.com

Dar es Salaam. UTT Microfinance PLC has signed an agreement with GEPF Retirement Benefits Fund to lend Sh1 billion to the fund members who come from the informal sector to support their efforts in setting up sustainable businesses.

The state-owned institutions said the partnership was a step forward in improving the livelihood of the informal sector dwellers that do not easily access credit from the mainstream banks.

The loans will be charged a 14-per cent interest, according to the UTT Microfinance chief executive officer Mr James Washima who made the remarks after signing the memorandum of understanding at the weekend.

“UTT is planning and reorganising to ensure that we provide better services to GEPF members as well as giving them fringe benefits from the loans. Our prospects are reaching as many members of the scheme with credit as possible,” said Mr Washima.

According to him, GEPF members who borrow in the UTT Microfinance PLC will also have access to Sh76,800 loan for joining the National Health Insurance Fund (NHIF) as they have such agreement.

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Wednesday, May 17, 2017

CRDB share gains as board proposes Sh26bn dividend

CDRD Bank chief executive officer, Dr Charles

CDRD Bank chief executive officer, Dr Charles Kimei speaks about the bank’s annual general meeting which will be held in Arusha on Saturday this week. Left is deputy managing director for shared servives Esther Kitoka and right deputy managing director of operations and customer service, Mr Saugata Bandyopadhya. PHOTO|EMMANUEL HERMAN 

By Muyonga Jumanne @TheCitizenTz mjumanne@mwananchi.co.tz

Dar es Salaam. Some 1,500 CRDB Bank shareholders will meet in Arusha at the weekend to endorse a Sh10 per share dividend proposed by the board.

The bank’s share gained by Sh5 at the Dar es Salaam Stock Exchange (DSE) during the past two days to trade at Sh190.

The Sh10/share translates into a total dividend of Sh26 billion to be deducted from the bank’s last year net profit of Sh75 billion, managing director Charles Kimei said here yesterday.

He said the management and other banking minds would explain in detail, the challenges that banks faced in 2016 and the way forward.

“Stakeholders need to hear from people who are well versed in banking issues. During the AGM [annual general meeting], we will also discuss the banking sector as a whole and not just CRDB,” said Dr Kimei.

The AGM will be preceded by a seminar to equip shareholders with issues pertaining to ownership and stock market investment.

He said various topics would be presented at the seminar.

Forty-three per cent of CRDB’s shares are owned by thousands of investors who own less than one per cent each.

During the AGM, shareholders will also elect a new board member to replace former Prime Minister Frederick Sumaye who is retiring.

CRDB Bank Plc was incorporated in 1996 and was listed on DSE on June 17 2009. It has established two wholly owned subsidiaries in Tanzania in 2007 in Burundi in 2012.

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Wednesday, May 17, 2017

Board plans 60pc cotton output rise

Tanzania Cotton Board director general Marco

Tanzania Cotton Board director general Marco Mtunga speaks to Mwabusalu Ward residents and Simiyu, Shinyanga, Geita, Mwanza, Kagera, Kigoma, Singida and Tabora regional commissioners at a seed multiplication station recently. PHOTO|THE CITIZEN CORRESPONDENT 

By Citizen Reporter @TheCitizenTz news@tz.nationmedia.com

Mwanza. The government wants to increase cotton production by about 60 per cent in the next three years as it seeks to bring the textile industry back to vibrancy, the Tanzania Cotton Board (TCB) said yesterday.

Director general Marco Mtunga told eight regional commissioners from the Western Cotton Growing Areas (WCGAs) during their visit to the Mwabusalu Seed Multiplication Station in Meatu District, Simiyu Region, yesterday that the goal would be achieved through adoption of best agricultural practices.

WCGAs encompass Simiyu, Shinyanga, Geita, Mwanza, Kagera, Kigoma, Singida and Tabora. “Adopting best agricultural practices including embracing contract farming, supported by adequate supply of quality inputs (seeds, insecticides, sprayers, fertilisers) will raise cotton output by over 60 per cent in the next three years,” Mr Mtunga said yesterday.

TCB is also banking on the adoption and multiplication of UKM08 — a newly certified cotton seed which is expected to improve the quality of cotton lint and yields.

He said the seed was developed through a project that was supported by the government and its development partners.

The two parties supported a research that was conducted at the Ukiriguru Agricultural Research Institute (Uari) to come up with the best seeds that could be used by cotton farmers.

“It has developed a number of new seed varieties and one of them is UKM08 which is currently being multiplied,” he said.

To ensure a sustainable revival process of quality cotton seed, the government has also created an enabling environment for the private sector to invest in seed multiplication, processing and marketing of cotton seed for planting to farmers.

The revival process will involve all stages of seed production from breeder seed, pre-basic seed, and basic seed to certified seed.

Uari will produce both breeder and pre-basic seeds at Ukiriguru and Nkanziga farm in Misungwi respectively then the private sector will collect the seeds for further multiplication at Mwabusalu in Meatu.

“The basic seeds produced in Meatu will be taken to Igunga district to be multiplied to get certified seed ready for distribution to farmers,” he explained.

Some of the advantages of the new seed, according to Mr Mtunga, include the fact that it tolerant to pests, diseases and drought.

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Wednesday, May 17, 2017

Tanzania’s evolving tax system comes under scrutiny

OBG country director Ivana Carapic and EY

OBG country director Ivana Carapic and EY country managing partner Joseph Sheffu sign a memorandum of understanding in Dar es Salaam. Under the deal, the two institutions will compile and produce the tax chapter of The Report: Tanzania 2017. With them is EY business development manager Frank Sambira. PHOTO|THE CITIZEN CORRESPONDENT 

By Citizen Reporter @TheCitizenTz news@tz.nationmeia.com

Dar es Salaam. Tanzania’s drive towards a more industrialised base and middle-income status will be analysed in a report by the global research and consultancy firm Oxford Business Group (OBG), the company said yesterday.

The Report: Tanzania 2017 will consider the key role earmarked for the private sector in helping the country to meet its longer-term growth targets.

OBG’s publication will explore the issues that have impacted Tanzania’s ease of doing business while examining the early encouraging results of the dialogue between the authorities and business community.

In addition, the report will track the rollout of Tanzania’s new monetary policy measures along with efforts by the government to diversify revenues in the light of a slowdown in aid and grants.

EY has signed a memorandum of understanding (MoU) with OBG for the group’s first report on the country. Under the MoU, the professional services firm will work with OBG to compile and produce the Tax chapter of The Report: Tanzania 2017.

EY country managing partner Joseph Sheffu said he looked forward to exploring the developments taking place across Tanzania’s tax framework with OBG’s team and relaying its changing structure to the global business community.

“The government has made good progress in its efforts to expand Tanzania’s tax base and bring workers into the formal sector as it moves to address the budget shortfall. However, revenue collections are still likely to fall short of the ambitious target set,” he said. “Knowing that further changes are expected, local and foreign investors eyeing the country’s many opportunities will without doubt want to ensure they have the latest information available ahead of their decision-making process.”

Welcoming EY on board, OBG’s country director in Tanzania, Ms Ivana Carapic, agreed that business leaders looking to play a part in Tanzania’s growth story had much to consider.

“Tanzania faces several challenges, largely prompted by the high growth trajectory,” she said. “With increased private sector participation essential to Tanzania’s development, I’m delighted that our team, and, ultimately, our readers, will benefit from EY’s expertise.”

The Report: Tanzania 2017 will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments. The publication will also contain contributions from leading representatives, including President John Magufuli, ministers Philip Mpango (Finance and Planning), Makame Mbarawa (Works, Transport and Communications) and Charles Tizeba (Agriculture, Livestock and Fisheries) as well the Bank of Tanzania governor Benno Ndulu.

The report will be available in print and online.

OBG is a global research and consultancy company with a presence in over 35 countries, from Africa, Asia and the Middle East to the Americas.

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Wednesday, May 17, 2017

Water projects poorly run: govt

By Citizen Reporter @TheCitizenTz news@tz.nationmedia.com

Morogoro. A senior government official has said poor management of rural water projects.

An assistant director in the Ministry of Water and Irrigation, Mr Jackson Mutazamba, told district executive directors (DEDs) meeting here yesterday that water provision and governance were important.

“Coverage of water projects in the country as of March this year was 72 per cent. However, some projects are not functioning due to poor governance,” he said adding that effective management of the ventures is an essential component in creating sustainable water supply particularly in the rural areas.

He said effective water management in many projects are hampered by an unclear allocation of roles and responsibilities, territorial fragmentation and limited capacity at the local level.

“DEDs from all councils in the country have gatheres to chart ways on how to improve the management of water projects to alleviate the water shortages in the country.”

He said they would have to ensure people in the respective areas to form water management committees which will be entrusted with the responsibility of handling and maintaining the projects. The government seeks to improve water access by 75 and 95 per cent in rural and urban areas respectively by 2020.

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Wednesday, May 10, 2017

Ecobank gets Sh46bn capital as focus put on loan recovery

 

By Alawi Masare @AMasare malawi@tz.nationmedia.com

Dar es Salaam. Ecobank Tanzania has changed its business strategy to recover from rising nonperforming loans (NPLs).

However, it assured the public that the change would not disrupt the bank’s operations.

The bank said it received $21 million (Sh46 billion) capital injection from shareholders as part of the strategies to sustain its business in Tanzania while taking other measures to recover the bad loans.

Ecobank is one of the commercial banks with the highest level of the NPLs ratios.

The bank’s ratio of NPLs to total gross loans reached 57 per cent at the end of the first quarter of 2017 compared with 38 per cent at the end of 2016 while the country’s market average is estimated at 10 per cent.

The bank’s NPLs reached Sh87.54 billion during the first quarter this year from Sh60.63 billion as of last December, according to the bank’s quarterly financial statement.

The bank said it will continue issuing loans to customers but the approach and strategy has changed to recover from the current situation. Ecobank acting managing director Raphael Benedict said yesterday that the bank was also talking to borrowers to see how it can help them repay the loans and may consider extending the repayment period.

“We have made significant progress in recovering the number of loans over the past three months and we believe the systems we have put in place will yield more positive results within the next few months.

However, that does not mean Ecobank may suspend operations. We are still committed to Tanzania and the capital injection means shareholders are still optimistic to business performance and committed to Tanzania.”

The decline in cargo at the Dar es Salaam Port has hurt transporters. Many of those who borrowed funds to increase their fleet are reported to be unable to repay bank loans as business has dwindled.

As a result, NPLs remained high.

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Wednesday, May 10, 2017

German firm keen to light up rural areas

 

By Peter Muthamia @TheCitizenTz news@tz.nationmedia.com

Dar es Salaam. A German firm will spend $10 million in selling inexpensive off-grid systems to over 800 households in Arusha, Manyara and Dodoma regions.

Rafiki Power is the Tanzanian brand of EON Off Grid Solutions that provides rural households in developing countries with reliable access to electricity. Chang’ombe and Dongo villages are the latest beneficiaries, with 144 households having been connected last month.

Rafiki Power managing director Daniel Becker said at the inauguration ceremony that the firm’s main aim is to ensure that rural residents have the right to reliable electricity. The company plans to electrify over 100 villages in the next three years.

Rafiki electricity is generated via solar panels and stored via batteries. Its power is suitable for lighting, communications, entertainment, pumping, drilling and refrigeration.

Kiteto Special Seats councillor Rahel Mkunda asked the company to fast-track the connection to other villages to boost their income-generating activities.

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Wednesday, May 10, 2017

Invest heavily in agricuture: govt

The minister for Agriculture, Livestock and

The minister for Agriculture, Livestock and Fisheries Development, Dr Charles Tizeba 

By Citizen Reporter @TheCitizenTz news@tz.nationmedia.com

Dar es Salaam. The government has said massive investment is needed in agriculture for Tanzania to realise its dream of becoming a middle-income economy by 2025.

The country is also geared up for industrialisation by 2020.

“(Promotion of) agriculture is unavoidable to industrialise Tanzania because crops will be raw materials for those industries,” the minister for Agriculture, Livestock and Fisheries Development, Dr Charles Tizeba, told the just-ended 10th Tanzania National Business Council meeting at the State House in Dar es Salaam.

The meeting, which brought together representatives from public and private sector, was chaired by President John Magufuli. Dr Tizeba said it was possible to reach the middle-income status by 2025 by investing heavily in agriculture. He spoke about inordinately high prices of fertilisers.

He cited studies which show that to make fertilisers affordable to the majority of farmers, bulk procurement tendering should adopted.

He was concerned that local improved seeds were more expensive than imported ones. “One kilo of imported seeds is sold at Sh1,500 while a kilo of locally produced seeds is sold at Sh7,000.”

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Wednesday, May 10, 2017

Two firms ink deal on financial inclusion

Halotel Tanzania managing director Le Van Dai

Halotel Tanzania managing director Le Van Dai (left) is briefed by a Selcom communications manager Sabrina Munir on how money can be sent using Selcom’s point-of-sale system in Dar es Salaam yesterday. With them is Selcom strategy directorr Benjamin Mpamo. PHOTO | EMMANUEL HERMAN 

By Alex Malanga @ChiefMalanga amalanga@tz.nationmedia.com

Dar es Salaam. A telecommunications company, Halotel and a digital payment service provider, Selcom, have inked a deal on widening financial inclusion.

Under the pact, Halotel’s HaloPesa will be accessed on Selcom’s points of sale devices, thus enabling millions of Tanzanians to send and withdraw money, purchase airtime vouchers as well as pay various bills.

The move will also enable some more Tanzanians to access financial services through mobile phones.

Data shows that mobile phones have helped Tanzania to raise financial inclusion to 60 per cent of the population as of last year, up from just about 14 five years ago.

Speaking during the signing of the contract, Halotel Tanzania managing director Le Van Dai said the move would simplify lives of customers while cementing HaloPesa’s position in the market.

“This partnership will simplify lives of Tanzanians who have been struggling to get financial services based in their locations,” he said noting that Halotel currently covers 95 per cent of the country.

Halotel has over 30,000 agents across the country who will be able to offer financial services event to the remotest of the remote areas where conventional banking services are not yet accessible.

With the partnership, HaloPesa customers will also be able to deposit their cash into their accounts through more than 17,000 Selcom agents countrywide.

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Monday, April 24, 2017

Kenya coast hotels face closure and job losses after Easter boom

 

Nairobi. About 3,000 hotel staff in Malindi and Watamu are staring at job losses due to the low season, with some facilities shutting down for lack of customers one week after the Easter boom.

Their counterparts in Mombasa are, however, lucky as conference tourism is helping hotels stay in business.

Uncertainty over the approaching General Election is also seeing some hoteliers scale down operations, adopting a wait-and-see attitude.

The Kenya Union of Domestic, Hotels, Educational Institutions, Hospitals and Allied Workers (Kudheiha), Kilifi County branch, said the two coastal towns are bracing for hard times. (NMG)

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Monday, April 24, 2017

Tanzania’s current account balance narrows nearly 50pc

By Alawi Masare @AMasare malawi@tz.nationmedia.com

Dar es Salaam. Tanzania’s current account balance has narrowed by almost a half as importation of goods and services continues to decline.

The current account deficit narrowed to $1.81 billion in the year ending February 2017 compared with $3.57 billion recorded during the year ending February 2016, according to the Bank of Tanzania’s monthly economic review for March.

The improvement was on account of a 15 per cent decline in imports of goods and services, combined with a little increase in exports.

The annual export value of goods and services increased from $8.98 billion to $9.17 billion during the period while that of the imports decreased by 15 per cent to $10.37 billion.

Exports

Earnings from tourism - the leading foreign exchange earner – improved from $2.04 billion to $2.13 billion while gold shipment also improved from $1.16 billion to $1.46 billion due to recovery in price in the world market and increase in volume.

On the other hand, the value of traditional exports rose by 17.8 per cent to $896.7 million with much of the improvement coming from export of cashew nuts.

The price of cashew nuts increased to an all-time high of Sh4,000 per raw kilogramme during the 2016 harvesting season compared with Sh1,250 recorded during the 2015 harvesting season.

However, it was a sad story for the manufactured goods which fell to $1.0 billion from $1.32 billion.

“Manufactured goods that declined included edible oil, iron and steel products,” stated the BoT report.

Imports

The decline of imports was observed across all categories of goods import except for industrial raw materials.

A large decline was in imports of capital goods, oil (petroleum products), fertilizers, and food and food stuff.

The value of oil imports which accounts for the largest share in goods import, declined by 12.8 per cent to $2.42 billion due to a fall in prices in the world market as volume remained broadly unchanged.

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Wednesday, April 19, 2017

World growth to reach 3.5pc this year: IMF

International Monetary Fund managing director

International Monetary Fund managing director Christine Lagarde speaks at a past event. PHOTO|FILE 

Washington. The International Monetary Fund has slightly raised its economic forecasts for global growth this year, on the back of a stronger-than-expected performance by the United States, China, Europe, and Japan.

However, it warns that economic outcomes are extremely uncertain – mainly because of the uncertain outlook for US policy under the Trump administration.

In its updated World Economic Outlook, the IMF says a pick-up in economic activity in the advanced economies started last summer, leading it to upgrade its forecasts for the rich countries.

Growth in China was also stronger than first thought, supported by continued policy stimulus.

But weaker-than-forecast growth in some key emerging markets, notably Latin American states Brazil and Argentina, as well as post-coup attempt Turkey (which saw a big fall in tourist revenues), have led to the IMF to leave its overall global growth estimates broadly unchanged since October. A key driver in economic sentiment – increasing both upside and downside risk – has been the election of Donald Trump as US President, and the policy uncertainty that has brought.

The IMF says most analysts expect the Trump administration (backed by Republican control of Congress) to deliver a more expansionary fiscal policy, based on tax cuts and increased infrastructure and defence spending. (Agencies)

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Wednesday, April 19, 2017

New coffee brand launched in response to financial crunch



Nuru Coffee Chapchap director Rayton Kwembe

Nuru Coffee Chapchap director Rayton Kwembe 

By Citizen Reporter

Dar es Salaam. A food and beverage company, Dar es Salaam Merchants Group (DMG), has launched an instant coffee brand.

Known as Nuru coffee Chapchap, the brand is a mix of milk, coffee and sugar. It sold at Sh500. “The launch is in response to the ongoing economic challenges,” according to Nuru Coffee Chapchap director Rayton Kwembe (pictured).

He said the coffee is produced from premium Arabica and Robusta beans. It is available in supermarkets in Dar es Salaam, Mwanza, Shinyanga, Mbeya, Dodoma, and Arusha.

DMG has been carrying out a 10-day promotional campaign in malls and streets in Dar es Salaam since Sunday.

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Wednesday, April 19, 2017

Campaign to brand Tanga City gains momentum

By George Sembony @TheCitizenTz news@tz.nationmedia.com

Tanga. According to Place Brand Observer, a blog, city branding can be complex, messy and challenging. In a globalised, ultra-connected world it is also becoming increasingly important and can be worth billions.

“It can bring focus and discipline to everything a local, regional or national government does, from economic development and tourism to urban design and alleviating poverty,” the blog says.

With the fifth edition of the Tanga International Trade Fair (TITF) to be held on May 28 and June 6, organizers – the region’s chapter of Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA) and the Tanzania Trade Development Authority (Tantrade) are getting more ambitious.

It will be the fourth year to hold such an event here.

Organisers think they can use the fair to turn the city into a big brand to attract investors.

According to the executive secretary of TCCIA’s Tanga chapter, Mr Charles Hoza, the Tanga City becomes a popular brand the TITF is taken seriously.

Wolff Olins brand consultancy expert Robert Jones says: “A strong identity is vital if you are competing with other places for attention in tourism and business or re-launching an area after a regeneration initiative.”

Bloom consulting firm’s Jose Torres is emphatic: “From an international perspective, a great brand is certainly a valuable asset. It can boost residents’ pride, it .can help a city to attract everything from tourists to investors to talent. It can help promote and it’s not just for famous cities, either. City branding isn’t about inventing something; it’s about discovering what’s already there.” Tanga has a lot to offer including such attractive spots as the famous Amboni Caves, Tongoni Ruins, beautiful beaches, the scenic East Usambara Mountains and several other historical and cultural attractions.

“We need something to promote this, to bring people to Tanga so that we can tell them about these attractions and that is why we think the Fair can be the required link to make Tanga a super brand.” He appealed to Tanga business community to regard the coming fair as an extension of their marketing plans.

A member of the organising committee, Mr Paul Bwoki, says Tanga City can be turned into a special brand as other places have done so.

The fair will be held at Mwahako on the Tanga-Pangani Road to enhance its image.

The organisers have also drawn up plans to hold other special events that would add value to the fair. The events include an event to be known as the Tanzania Petroleum Development Corporation (TPDC) Day to be sponsored the TPDC.

The event is expected to be a meeting of business opportunities and benefits that accrue from investment of the crude oil pipeline from Uganda to Tanga.

“The meeting would discuss what opportunities sector wise are available and which opportunities that Tanga people can consider to work on based on break down of the main sector opportunities available,” according to the Tanga chapter’s TCCIA chairman, Deo Ruhiinda.

There will also be the Tanzania National Parks Day to be sponsored by Tanapa, Vipodozi Day to be sponsored by the Tanga Pharmaceuticals and Plastics Ltd and Mamujee Products Ltd, the Coffee Day by the Tanzania Coffee Board and Sisal Day to be organized by the Sisal Association of Tanzania (SAT) and D.D. Ruhinda & Company.

The organisers aim at branding Tanga City.

Mr Hjörtur Smárason, writing in Brand Africa Blog, on Cities of Opportunities, says African cities have a unique opportunity to position themselves as the leading cities in implementing smart city solutions and sustainable urban design.

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Wednesday, April 19, 2017

Talks with Japan could lead to trade deal: US

US Vice President Mike Pence (right) is

US Vice President Mike Pence (right) is welcomed by Japanese Deputy Prime Minister Taro Aso before a joint press conference in Tokyo yesterday. PHOTO|AFP 

Tokyo. The US and Japan yesterday launched economic talks that Vice President Mike Pence said could result in a bilateral trade deal, salvaging some of the progress made in negotiations towards the now-abandoned TPP.

“At some point in the future there may be a decision made between our nations to take what we have learned in this dialogue and commence formal negotiations for a free trade agreement,” Pence said at a joint news conference with Deputy Prime Minister Taro Aso.

Pence’s comments came as the two countries kicked off talks aimed at achieving a new economic relationship -- in line with US President Donald Trump’s vow to focus on bilateral trade deals rather than multilateral ones that he says have damaged the United States.

Trump’s decision to scrap the ambitious 12-nation Trans-Pacific Trade (TPP) deal championed by former president Barack Obama was a blow to Japanese Prime Minister Shinzo Abe, who expended substantial political capital to get the accord passed at home.

In Tokyo, there is still hope that the core of the agreement, thrashed out between the United States and Japan and intended to counterbalance China’s regional economic power, can be salvaged in some form.

Pence, however, reaffirmed that there was no hope of reviving the TPP itself, which he called a “thing of the past” for the US.

Aso said the two countries had agreed to hold a second round of economic talks by the end of this year.

“I will continue having constructive talks with Mr Pence so as to deepen the win-win economic relations between Japan and the US,” he said. (AFP)

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Monday, April 3, 2017

Bank M profit surges on higher interest income

“This follows an increase in loans and advances

“This follows an increase in loans and advances that grew by 19 per cent to Sh798.13 billion from Sh668.58 billion,” Bank M’s chief executive officer designate, Ms Jacqueline Woiso said. 

By Alfred Zacharia @TheCitizenTz azacharia@tz.nationmedia.com

Dar es Salaam. Bank M’s pre-tax profit rose by 35 per cent in 2016 as the ten-year old bank braved a challenging environment to grow its loan book.

The bank’s financial results show that interest income grew by a cool Sh22.3 billion to reach Sh94.7 billion.

As a result, Bank M’s profit before tax reached Sh23.54 billion from Sh17.49 billion in 2015.

Profit after tax also increased to Sh15.55 billion.

“This follows an increase in loans and advances that grew by 19 per cent to Sh798.13 billion from Sh668.58 billion,” Bank M’s chief executive officer designate, Ms Jacqueline Woiso said.

The growth also pushed the Corporate and Investment bank’s total assets to Sh1.05 trillion.

According to the released financial statement, total deposits with Bank M reached Sh865.09 billion as at 31st Dec 2016 from Sh759.19 billion in 2015.

Revenue from non-interest income remained unchanged at Sh23.63 billion, the same as in 2015.

“We are happy with our 2016 performance….We believe that 2017 will be even better,” said Ms Woiso.

Opened in 2007, Bank M has grown considerably during the years to become the 7th largest bank in terms of balance sheet size in a market of over 50 players.

It also ranks 9th in terms of profitability.

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Monday, April 3, 2017

Contract farming ‘set to boost cotton production’

 

By Citizen Reporter @TheCitizenTz news@tz.nationmedia.com

Mwanza. Cotton yields are set to increase further this year as more and more farmers opt for contract farming (CF), the Tanzania Cotton Board (TCB), has said.

The value of Tanzania’s cotton exports rose by 55 per cent last year to reach $46.8 million from $30.2 million, according to Bank of Tanzania (BoT) figures. The increase was propelled by increase in both export volume and unit price.

The TCB director general, Mr Marco Mtunga believes much more is to come, saying in Mwanza for instance, the area planted by cotton has increased by 66 per cent from 69,886 acres in 2015/16 season to 116,110 acres in 2016/17 season.

Similarly, in Mara, the area has increase by 77 per cent from 43,216 to 76,390 acres.

“While the early season drought has impacted on the actual areas now germinated and established, it is clear that if farmers are assured of support they want to grow cotton,” he said. In contrast, non-contract farming areas have continued to see a decline in areas planted - in some cases by as much as over 60 per cent. Through CF, cotton buyers agree to provide inputs, finance and advice on credit to primary producers of the product in return for having exclusive rights to purchase the crop at harvest time.

While pesticide distribution is still ongoing, there is early evidence that CF areas have already doubled the levels of pesticide distribution that were recorded for the whole of the 2015/16 season for the Mara and Mwanza regions.

This is largely because ginners are procuring their own pesticides independently and not relying on the very limited stocks available from the Cotton Development Trust Fund (CDTF). In non-contract farming areas the reverse is the case and farmers are struggling to obtain the pesticide that they require.

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Monday, April 3, 2017

Zanzibar government supports tourism promotion in the Gulf

 

By Citizen Reporter

Zanzibar. The Revolutionary Government of Zanzibar has disbursed funds to the Zanzibar Commission for Tourism (ZCT) so it can promote the Isles’ tourism potential in the Gulf region.

The ZCT marketing director, Dr Miraj Ussi said here yesterday that tourism stakeholders in the semi-autonomous archipelago will take part in the four-day Arabian Travel Market (ATM) exhibition that will be held in Dubai starting April 24.

Tourism is a dominant economic activity in Zanzibar. “Zanzibar will be returning for the second time to the event. This time, we are going jointly with the ZCT, Destination Zanzibar Company and Zanzibar Association of Tour Operators (Zato).

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Wednesday, March 29, 2017

Up tourism promotion budget: Tato

Tato chairman, Mr Willbard Chambulo speaks at a

Tato chairman, Mr Willbard Chambulo speaks at a past event. PHOTO|FILE