Tag Archives: Tanzania business

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.

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


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Tanzania Inflation rate August 2015‏

THE inflation rate for last month has remained at 6.4 per cent, the same as it was in July 2015, the National Bureau of Statistics (NBS) announced in Dar es Salaam yesterday.
NBS Population Census and Social Statistics Director, Mr Ephraim Kwesigabo

NBS Population Census and Social Statistics Director, Mr Ephraim Kwesigabo

But, the annual inflation rate for food consumed at home and away from home has decreased to 10.1 per cent in August compared to the previous month, which was at 10.5 per cent, while the 12-month index change for non-food products has slightly increased to 1.7 per cent from 1.4 per cent recorded in July.

According to NBS, the overall index increased to 158.81 last month from 149.31 in August, 2014. The increase in the overall index is attributed to the price increase in non-food items.

The new National Consumer Price Index released by NBS yesterday for last month also indicates that the annual inflation rate, which excludes food and energy for the month of August, has slightly increased to 2.2 per cent from 2.1 recorded in July 2015.

NBS Population Census and Social Statistics Director, Mr Ephraim Kwesigabo, said that basically the increase in month-to-month inflation rates is attributed to the price increase, both in food and non-food items.

“The increase of annual headline inflation rate for the year ending August 2015 explains that the speed of price increase for commodities has increased in the same speed as it was recorded for the year ended July,” Mr Kwesigabo reported.

“The monthly headline inflation rate for the month of August has increased by 0.02 per cent compared to an increase of 0.41 per cent recorded in July,” he said.

He mentioned the non-food items which contributed to the monthly headline inflation rate increase as gas, kerosene, carpets, diesel and petrol.

“The purchasing power of the shilling indicates that currently you cannot purchase the same thing with the same amount of money like in the year 2010,” he remarked.

While the Tanzanian rate has stagnated, in Kenya the rate decreased to 5.4 per cent last month from 6.6 recorded in July and in Uganda the inflation rate decreased last month to 4.8 per cent from 5.4 per cent.

Principal Statistician, Ms Ruth Minja, said that among other things NBS role was to educate as many people as possible through various media to help them understand clearly the issue pertaining to inflation.

“It is crucial for people to read all the details instead of complaining that they do not understand certain things,” she elaborated.

Tanzania’s inflation rate averaged 7.72 per cent from 1999 until 2013. It reached an all-time high of 19.8 per cent in December, 2011 and a record low of 3.4 per cent in February, 2003.

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Posted by on September 9, 2015 in Business News, Tanzania News


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Mamlaka ya Usimamizi na Udhibiti wa Sekta ya Hifadhi ya Jamii (SSRA), inapenda kutoa ufafanuzi juu ya mafao ya kujitoa. Ufanunuzi huu unakwenda sambamba na taarifa mbalimbali ambazo zimekuwa zikitolewa na vyombo vya habari na kuleta mkanganyiko miongoni mwa Wanachama na Wadau wa Sekta ya Hifadhi ya Jamii.

Kufuatia hali hiyo, Mamlaka inatoa ufafanuzi ufuatao:

 Marekebisho kuhusu kusitisha fao la kujitoa yamefanyika ili kutimiza lengo na madhumuni ya Hifadhi ya Jamii ambayo ni kuhakikisha kuwa Mwanachama anapostaafu anapata mafao bora yatakayomwezesha kumudu hali ya maisha uzeeni.

 Ni kweli kuwa Sheria za Mifuko ya Hifadhi ya Jamii pamoja na Sheria ya Mamlaka zimefanyiwa marekebisho. Mchakato wa marekebisho hayo ulihusisha wadau kwa kuzingatia utatu yaani wawakilishi kutoka Vyama vya Wafanyakazi, Chama cha waajiri pamoja na Serikali.

 Kwa kutambua tofauti ya ajira, tofauti ya mazingira ya kazi, tofauti ya sababu za ukomo wa ajira, na umuhimu wa Mwanachama kunufaika na michango yake wakati angali katika ajira, Mamlaka inaendelea na mchakato wa kuandaa miongozo na kanuni za mafao ambazo lengo lake ni kuboresha maslahi ya Wanachama. Miongozo na kanuni hizo zitajadiliwa na Wadau wakiwemo Wafanyakazi, Waajiri na Serikali kabla ya kuanza kutumika.


 Kufuatia kuanza kutumika kwa Sheria hiyo maombi mapya ya kujitoa yamesitishwa kwa kipindi cha miezi sita hadi pale miongozo itakapotolewa ili kuiwezesha Mamlaka na Mifuko ya Hifadhi ya Jamii kutoa elimu kwa Wadau.

 Tangazo hili halitowahusu Wanachama waonachangia katika Mfuko wa Akiba (GEPF), Mifuko ya Hiari (Supplementary Schemes) zinazoendeshwa na PPF,NSSF na LAPF, pia Wanachama waliojitoa kabla ya tarehe 20/07/2012.

 Mamlaka inakanusha vikali kwamba, sitisho la fao la kujitoa si kwa sababu za Kiserikali au kwa sababu Mifuko imefilisika. Tunapenda kuwahakikishia kwamba Mifuko yote ipo thabiti na michango yote ya Wanachama ipo salama.

 Hivyo, Mamlaka inawaomba Wanachama na Wadau wote wa Sekta ya Hifadhi ya Jamii kuwa na utulivu wakati mchakato huu ukiendelea kwa lengo la kulinda na kutetea maslahi ya Mwanachama.

 Imetolewa na kitengo cha Mawasiliano na Uhamasishaji

SSRA-Makao Makuu



Posted by on July 30, 2012 in Tanzania News


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Stanchart facilitates Africa-China links‏

Source: Daily News

Dar es Salaam

Building on the Bank’s long history and strong presence on both sides of the rapidly expanding China-Africa trade and investment corridor, Standard Chartered Bank is this year hosting 12 Africa Chairmen in Beijing for the Bank’s Annual Africa Chairmen’s Conference.

The motivation behind choosing Beijing for this year’s conference, which started on 16th this month and expected to close on 20th July,  is in line with Standard Chartered’s commitment to use its unique global footprint to support, promote and grow economically enhancing trade and investment corridors between these two regions.

According to a statement released by Stanchart bank head office in Dar es Salaam, while in China, Standard Chartered will provide the Africa Chairmen with insight into China’s strides in economic development, the Bank’s Chinese expansion strategy as well as facilitate strategic introductions with relevant and influential government, industry and private sector leaders across China.

The Bank’s Africa delegation will also participate in China’s ‘4th Conference of African and Chinese Entrepreneurs’ during the ‘Forum on China-Africa Cooperation’ (FOCAC) in Beijing.

Commenting on the coming meeting, Diana Layfield, the bank’s Chief Executive Officer for Africa, said, “Our decision to host our Africa Chairmen in China this year is simply another unique way we are using our presence and capabilities to create lasting relationships which stand to deliver economic benefit well into the future.”

“Africa-China trade has risen tenfold in less than a decade.  Looking forward, Africa will have 1.1 billion people of working age by 2040 – expected to be the largest working population world-wide, and representing a very attractive consumer base for expanding companies to tap into for the future. Standard Chartered has the history, the presence and the expertise to make a tangible difference in supporting this rapidly increasing channel of economic growth.”

Lim Cheng Teck, Executive Vice Chairman and CEO of Standard Chartered China added, “The trade and investment linkages between China and Africa are significant.  Standard Chartered has a very established presence in these markets and we are well positioned to serve clients and customers that trade and invest between these markets. We are delighted to host the African Chairmen in China – yet another demonstration of the importance we place on the linkages between China and Africa.”

Standard Chartered is the oldest foreign bank in China, opening its first branch in Shanghai 154 years ago – 4 years before the Bank opened its first branch in Africa.  Today the Bank boasts 87 outlets across China with 7,000 staff.  In Africa, the Bank has a presence in 16 markets, supported by more than 7,000 staff.

Given its strategic positioning, Standard Chartered has channeled valuable investment between Africa and China by supporting a numerous investments and trade relationships between the two regions.

Key transactions include the Bank’s partnership with the expansion of leading Chinese brands in Africa, including Huawei and ZTE, as well as facilitating China Investment Corporation’s (CIC) first and milestone investment into Africa – one of the world’s biggest sovereign wealth funds.

As exclusive financial advisor, Standard Chartered facilitated CIC’s acquisition of a 25.8% equity stake into South Africa’s Shanduka Group (Dec 2011). These strategic partnerships not only pave the way for additional investment, but also set a positive example for other potential investors to follow.

Daily News

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Posted by on July 18, 2012 in Business News, Tanzania News


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CTI Yazindua Mradi wa utafiti wa Biashara

SHIRIKISHO la Wenye Viwanda (CTI) limeelezea haja ya kuendelea  kutengeneza mazingira bora ya biashara ili kufanya bidhaa zinazozalishwa nchini zikiwemo za huduma kushindana kimataifa.

Mkurugenzi Mtendaji wa CTI Christine  Kilindu ameyasema hayo wakati wa uzinduzi wa taarifa ya hali halisi ya mazingira ya  kibiashara nchini.
Taarifa hiyo ni matokeo ya utafiti uliofanywa  kwa wafanyabiashara na wawekezaji nchini kwa mwaka jana .Taarifa hiyo ni ya nne tangu CTI kwa kushirikiana na BEST-AC katika kutafuta suluhu kwa matatizo ya biashara nchini.
Katika taarifa hiyo mambo manne  yalielezwa kukwamisha hali bora ya uwekezaji nchini. Mambo hayo ni  tatizo la nishati ya kuaminika, uhafifu wa barabara, rushwa, upatikanaji wa maji usiokuwa na uhakika, fedha na kodi zinazopandiana.
Alisema utatuzi wa vikwazo vya biashara nchini kutasaidia wawekezaji wote wa  ndani na watokao nje ya nchi kutengeneza bidhaa zenye ushindani na  kuwezesha mabadiliko makubwa yanayohitajika katika uchumi wa Tanzania.
“ Kumekuwepo na mabadiliko madogo kama yanavyoonekana kwenye Ripoti ya  Biashara ya Benki ya Dunia ambapo kwa mara kadhaa Tanzania imekuwa  ikishika nafasi ya chini. Ripoti hizi zinaonesha kuwa, Tanzania ni  mahali pagumu sana katika kuwekeza na kufanya biashara.”
Alisema  na kuongeza kuwa mitazamo ya viongozi wa biashara ambayo imetolewa kwa  lengo mahsusi la kuchukua maoni ya jumuiya za biashara za Tanzania pia  imeainisha ugumu uliopo wa kufanya biashara nchini.
Christine  alisema ni matumaini yake kwamba changamoto zilizoelezwa katika ripoti  hiyo zitafanyiwa kazi na kuisogeza Tanzania katika mazingira bora zaidi  za ufanyaji biashara na uwekezaji.
Katika hafla hiyo wachora vibonzo walipewa tuzo zao zikiwemo fedha taslimu kwa jinsi  walivyoweza kusaidia katika ushawishi wa mabadiliko kwenye sera na  kanuni za uendeshaji biashara nchini

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Posted by on July 9, 2012 in Tanzania News


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