Tag Archives: business

DSE makes huge turnaround‏

DSE makes huge turnaround‏
THE Dar es Salaam Stock Exchange (DSE), equity market marked huge turnaround after registering total turnover of 24.35bn/-compared to 8.58bn/- of the previous session with TBL and CRDB Bank emerging top traded equities.

According to Zan Securities Limited Weekly Wrap-ups, TBL and CRDB contributed to 74.59 percent and 14.34 percent of the week’s total turnover respectively.

Similarly, TBL emerged as the top gainer dominating the price movement within local listed companies after experiencing 200/- or 1.33 percent price increase to close at 15,200/- per share.

Meanwhile, Simba emerged as the top loser to close the week with the largest price drop for local listed companies after experiencing a 350/- or 11.11 percent price decrease to close at 2,800/- per share.

Comparatively, key benchmark indices were in both the green and red territory during the week with the Tanzania Share Index (TSI) capped at 4,611.29 points, higher by 0.41 percent compared with 4,592.45 points posted in the previous period.

The All Share Index (DSEI) closed at 2,403.58 points, lower by 0.25 percent compared with the week before to close at 2,409.71 points.

Three sector indices closed off both in green and red territory with Industrial and Allied experiencing an increase, closing at 6,158.12 points up by 0.44 percent compared to previous week closing at 6,130.88 points.

Banks, Finance and Investment Index experienced an increase by 0.42 percent to close at 3,099.01 points compared to close at 3,086.15points. Commercial Services Sector experienced a decrease by 0.53 percent to close at 3,915.58 points compared to 3,936.51 points of the period before.

Total market capitalisation experienced decrease by 0.27 percent compared to the previous week, closing at 21.05tri/-.

Domestic market capitalization experienced an increase by 0.41 percent to close at 9.77tri/-.

Leave a comment

Posted by on October 20, 2015 in Tanzania News


Tags: , , , , ,

JK lists NMB Bank among success stories‏

JK lists NMB Bank among success stories‏
president Jakaya Kikwete with NMB Staff at the Launching Ceremony

president Jakaya Kikwete with NMB Staff at the Launching Ceremony

PRESIDENT Jakaya Kikwete has inaugurated 65 million US dollars (140bn/-) worth state-of-the-art National Microfinance Bank (NMB) building and pledged continued government support to the bank’s efforts to promote financial inclusion.

The modern building with capacity to accommodate over 1000 staff, modern rooms, canteen to cater for all staff and modern private bank proves the solidity and sustainability of the bank.

With the widest network of more than 170 branches and over 600 ATMs as well as 95 per cent coverage of all districts.

“NMB Bank is one of the successful and model of privatisation stories. It pays dividends as well as various taxes to the government,” President Kikwete said in Dar es Salaam at the weekend while pointing finger to other public institutions are still depending on government subsidy.

He said NMB success as the best and most profitable Tanzanian bank followed a transformation process done during his 10 years term in office.

Government has 30 per cent stake in the bank and 20 per cent is owned by Tanzanians through the Dar bourse.

He urged the bank to continue promoting financial inclusion to reach more the financially under-served population.

Tanzania is the global leader in providing mobile money banking.

“When I became president 10 years ago, NMB was a very small bank and was referred as the proletariat bank, but today it is the biggest bank in the country with the widest network, the most profitable and sustainable bank. I am very proud of you,” he said.

Also Mr Kikwete launched a modern private banking located at the new head office powered by four teller cubicles and two ATM machines. It is the third after NMB Bunge Dodoma and NMB Oyster plaza branch in Masaki.

Most of the money spent in constructing the seven storey building was paid to local contractors with few foreign contractors.

Rais Jakaya Kikwete akikata utepe kufungua jengo la makao makuu ya NMB jijini Dar es Salaam.
The NMB Bank Managing Director, Ms Ineke Bussemaker, said the new head office reflects the priorities of the bank as it complies with all standards set by the bank.

“The building is a symbol of what NMB can achieve together, it consumes spacious working area, modern and stylish features with high end finishing, high safety detectors and fire systems with number of meeting rooms for staff, customers and visitors, semi-industrial kitchen,” she said.

Leave a comment

Posted by on October 19, 2015 in Business News, Tanzania News


Tags: , , , , , , , ,

Vietnam’s military-run mobile firm launches in Tanzania‏ Through Halotel

Vietnam’s military-run mobile firm launches in Tanzania, invests $736 mln


Vietnam’s state-run telecoms operator Viettel launched mobile and internet services in Tanzania on Thursday after investing $736 million (Sh75.80 billion) in East Africa’s second-biggest economy.

Tanzania’s mobile telecoms sector has grown rapidly over the past decade, driven by demand for third-generation (3G) mobile services.

The number of mobile phone subscribers in Tanzania rose by 16 percent in 2014 to 31.86 million, according to the country’s telecoms regulator.

A statement issued by Viettel, which is run by Vietnam’s Ministry of Defence, said the company will trade as Halotel in Tanzania and would offer both 2G and 3G services.

“With an initial investment of $736 million … Viettel’s operations have enabled services to all 26 regions in the country across rural and urban areas,” it said.

“Viettel’s new investment in Africa follows the rollout of services in Burundi and Cameroon … earlier this year and in Mozambique … in 2014.” Viettel said it had built 18,000 km of optical cable and more than 3,000 base transceivers, giving it coverage for up to 81 percent of Tanzania’s population of over 47 million.

The company will compete with four other main operators in Tanzania: Vodacom Tanzania, owned by South Africa’s Vodacom , Bharti Airtel, Tigo Tanzania, which is part of Sweden’s Millicom and Etisalat – owned Zantel.

Three other mobile operators – state-run TTCL, Benson and Smart – have a small market share. The Tanzanian president’s office said last year Viettel plans to invest $1 billion (Sh103 billion) in a new 3G mobile phone network in the country.

Like other African countries, mobile phone use has rocketed in Tanzania over the past decade, with telecoms the fastest-expanding sector in the country.

Viettel operates in markets in Asia, Latin America and Africa, and has around 75 million subscribers worldwide, according to its website. Its revenues in 2014 were $9.8 billion (Sh1 trillion) and it is aiming for a 20 percent increase in 2015.

SOURCE: Reuters


Posted by on October 19, 2015 in Business News, Tanzania News


Tags: , , , , , , ,

Article:Strategic Leadership for Executives

Article:Strategic Leadership for Executives

By Ryan May For Business Dictionary.

How effective are you at managing change? In the modern business landscape, the process of successfully navigating change – whether it’s organizational or related to products and services – is one of the most highly-valued skills for the entrepreneur.

And to manage change successfully, an executive must possess the skills and tools for strategy formulation as well as implementation. The combination of these two elements has come to be known as strategic leadership, providing the vision and direction for the growth and success of an organization.
A Snapshot of the Strategic Leader

In general, strategic leaders can be found at the head of large organizations, influencing thousands to hundreds of thousands of employees and external support personnel. Within this role, they are tasked with establishing organizational structure, allocating funding and other resources and effectively defining and communicating the strategic vision for the company as a whole to employees and investors alike.

Common traits often include:
Ability to operate in an uncertain environment where complex problems and external events may impact the success of the venture

Make decisions by processing information quickly and assessing alternatives (often based on incomplete data), the consequences of which impact a wider range of people and resources than a standard organizational leader

Often will not see the fruit of their labor come to light during their tenure, planning instead for initiatives that will take place years later and possibly even after the leader has left the job

Two Different Approaches

As with just about anything in a large organization, the process of strategic leadership begins with people. Managing change through uncertainty requires strategic leaders who possess and communicate a clear path of direction, fostering ownership and alignment within their workgroups to achieve the desired outcomes.

In addition, these leaders are keenly aware of the delicate balance between the analytical and human components present within their organization, which is why many who’ve successfully employed this system have been shown to rely on strong second-tier leaders, enabling them to exert their influence primarily through subordinates while focusing on the larger issues that impact the organization as a whole.

However, depending on the strengths and individual personality of each executive, many corporate leaders opt to focus on the human component more than the analytical, as seen in the modern employee-centered organization, or vice versa on analytical, as seen in organizations based on a more traditional model that center primarily on a bottom line.
How to Select the Style That’s Right for You

Strategic leadership is an ongoing process. And when trying to decide how to conceptualize your role as a strategic leader, you must first decide how you see yourself participating as the process moves forward. Is it your goal to provide bold, analytical leadership and establish yourself as “hero” among employees and stockholders? Or do you envision yourself serving as a benevolent and humane coach, enabling those under you to realize their own full potential and stand in the limelight?

An analytical leader desires to personally come up with the right answer. Leading from the front, these individuals tackle strategic issues by drawing primarily upon their own experience and insight, attempting to single-handedly outsmart the competition and establish dominance within the marketplace.

In contrast, the leader focused on the human branch of strategic leadership believes their organization’s strategy is only as strong as the breadth and depth of the understanding and commitment it attracts. As such, the development of strategy is carefully coordinated but widely disseminated throughout the organization. In doing so, this type of leader is able to guide and respond to directional elements while fostering commitment and encouraging empowerment among employees at all levels.


Leave a comment

Posted by on November 22, 2013 in Articles


Tags: , , ,

Money-Savers That Turn Into Money-Wasters

Frugal living has become the mantra for people  since the rise of costs of living and Great recession started,  although some of people have been wisely frugal for their whole lives. However,  all money-saving tips are not equal. Sure, taking your lunch to work is a quick ways to save about Tshs. 5,000 to Tshs. 10,000  every weekday, but some other  methods for saving your pennies could end up costing you more than you  realize.

Skimping or Cheating on  Insurance
Before you cancel your insurance policy, you need to think  hard about the consequences. A damaged third part insured vehicle or a damaged home could cost a  lot more than the money you save on your insurance premiums. Raising your  deductible through a bank could be a better way to save, but make sure you can really pay that  deductible without incurring costly debt and bank charges. 
Buying  Things Just Because They’re on Sale
Frugal shoppers live for sales  and discount coupons, but don’t get so caught up in the sale that you end up  buying things you don’t need. Stock up on items you really use when they’re on  sale, but never buy something you wouldn’t purchase if it wasn’t on sale. You’ll  end up with a houseful of unwanted items and then may not have the money  available for something you really need. Ladies you know what I mean, we ran to buy discounted shoes and clothes that we do not even need.
Driving Extra for a  Discount
Sometimes you can’t see the forest because of the trees. If  you are focused so much on saving a few shillings per litre of gas, using a  coupon at a distant store or finding a better price at a store 20 miles away  defeats the purpose. Don’t forget to calculate how much you are spending on the  extra gas needed to get there. You’re also adding miles to your possibly  overworked car. A friend of mine drive all the way to town from Mikocheni to buy Us dollars for her DSTV bill because she claims DSTV exchange rates are bad, by a 5 shilling per dollar, you are driving to town to save TShs.400/- for a Usd 80 monthly DSTV bill. Not so clever!
Skipping  Car Maintenance
Car maintenance is one expense many people like to  skip, but the lack of routine maintenance can end up costing thousands of shillings in car repairs. You may even have to replace your damaged  car.
Not Funding Your  Retirement Account
If you’re scrimping and living from paycheck to  paycheck, the idea of skimming money off that check for a far-off retirement can  be daunting. We all know the Social Security fund  saga going on in our country.
Think about this: if you put away a few shillings everymonth for  years, those shillings will eventually turn into thousands. Plus, you may be  reducing your tax burden by using pre-tax shillings for the social security contribution (Employee’s share of contribution). If you  have an employer who’s matching your contributions you are throwing money away  by not at least saving the maximum match amount.Employer might convice you to get more by avoiding NSSF he is saving while you are losing his part of contribution.


Buying Cheap  Items

Cheap clothes, cheap shoes, cheap hardware items and cheap  electronics are all readily available, but if you find yourself replacing them  often you may end up spending more money than if you had bought a good quality  item in the first place. Your better choice is to look for good quality items on  sale. Chinese items are playing a big part into this category! selling good looking bad quality items at a lower price!

Living Cash Poor
If you try to  save money by keeping only a small amount of cash in your wallet, you may end up  wasting money on ATMs. If you go to your bank and avoid ATM fees, that’s fine,  but many people end up spending around Tshs. 5000 every few days to pull out Tshs. 50,000 out of  their accounts.
Buying the  Wrong Groceries
While bulk grocery shopping can seem like a great  bargain, if you end up throwing away tomatoes that’s gone bad, you’ve  simply wasted money and food. Some people skip buying expensive fruits and  vegetables, but they could pay for that later on because they’ll need extra  vitamins and possibly have health issues.
The Bottom  Line While saving money on small things can add up to big benefits,  make sure the initial savings won’t result in unforeseen consequences in the  long run.

Tags: , , , , ,







                                        .    .    .    .   .   .   .   .   .   .

If your plan is to limit your business within the country, CMA helps you see beyond boundaries.

Each CMA talk is packed with insights, findings, ideas, and strategies from today’s top entrepreneurs and business leaders.

Are these among your key concerns?

o   How do I find a Profitable business idea?

o   How do I start a business using local resources?

o   How does a business I started prosper worldwide

o   How do I draw the attention of international partners

Attend our Talk!

Sunday, August 26, 2012

Holiday Inn Hotel

3.00pm to 5.00pm

Tshs. 25,000 per participant

Dress Code: Smart. Men should appear  dressed in a tie or suit.

Talk Capacity 25 participants

Register Now: or call 0754 – 37 08 05


Posted by on August 22, 2012 in General Knowledge


Tags: , , , , , ,

Financing Tips for Small Business

One of the greatest challenges facing small business owners in Tanzania is the availability of funds for starting and operating the business.

When banks decline financing for the new business, as they mostly do, entrepreneurs may feel the need to resort to creative financing options. With some persistence and an open-minded approach, almost any business can receive additional funding through creative means. These options including taking a loan from a retirement account, taking on a partner, and using home equity as capital financing, Cash Floats

1. Take on a partner.   Ask a former co-worker, boss or friend about accepting a business venture. Speak to him about providing startup capital and offer what you can afford, plus sweat equity — which is work put into the business and repaid through the company’s earnings. Draw up a partnership agreement that details each partner’s role and financial commitment along with a buy-out option.

2. Cash Floats. In this technique an entrepreneurs  rely heavily on OPM (Other People’s Money) when they don’t have any of their own to launch a business with. It makes sense to use OPM even
when you do have your own money to mitigate risk–your risk.  One of the greatest American industrial companies was launched using cash float financing technique. I’m referring to the Ford Motor

Ford knew he could never afford to pay for all the materials needed to build a car up-front. So instead, he negotiated deals with dealers obligating them to pay cash for his cars. Then, he convinced suppliers to let him pay for the materials 30 days after receiving them. In this way, Ford could get his parts right away, build his cars and sell them to dealers at a profit before any of his expenses came due.

3. Silent Partners or Angel Investors : Another creative financing technique at your disposal is to seek out a silent partner. A silent partner is any investor who puts money into your business in exchange for future profits but does not have a voice in decision-making. This could be a wealthy relative, a co-worker or anyone else you can persuade to invest. Be careful, though, not to accept silent partner investment from just anyone. The ideal scenario is taking a little from someone who has a lot, as such people are unlikely to freak out about the inevitable ups and downs of a new business venture.

4.  Consulting Work: consulting work can help provide early seed money for new businesses,In his essay  How To Fund a Startup, Paul Graham wrote,

“Another way to fund a startup is to get a job. The best sort of job is a consulting project in which you can build whatever software you wanted to sell as a startup. Then you can gradually transform yourself from a consulting company into a product company, and have your clients pay your development expenses.”

Graham’s advice was admittedly tailored to technology startups, But one can envision the same model being applicable to other service businesses. Someone looking to start a small to medium-sized accounting firm, for instance, can take on freelance jobs in the early going and resolve to put most or all of that money toward growing his company. Different types of services businesses could conceivably do the same.

5. Hard Money Lenders: If your business is in a pinch and absolutely needs money by yesterday to capitalize on an opportunity, there are always hard money lenders. Payday lenders, for instance, make short-term loans at high interest rates. You get these loans  from SACCOS, small Microfinances at a rate of 10 to 30 percent per month!

But beware: there are very few circumstances when going to this type of lending establishment makes sense. The correct time to utilize a payday lender for business purposes is when you face a money-making opportunity that is certain, but fleeting, and which requires cash at once. If you can get the money quickly and use it for a deal that returns Tshs. 50,000,000  what does it matter that you paid Tshs. 5,000,000  in interest to get it? Then again, consider this your last resort for financing, to be approached only if you’ve exhausted all other options listed above.

Bottom Line

Its your call, If you’re failing at raising outside money but determined to take your project
from concept to operating company, you have a choice. One, you can continue
wasting more time chasing after disinterested investors and banks. Two, you can start to
make some headway today towards traction by learning from the elite
entrepreneurs who understand how to exploit entrepreneurial finance techniques
such as cash floats and others explained above.

Share with us If you know of any other Financing technique for a small business that worked for you or someone you know.




Tags: , , , , , , , , , , ,

%d bloggers like this: