Tag Archives: Tanzania News

Commodity exchange takes off in May‏

Commodity exchange takes off in May‏
THE Tanzania Mercantile Exchange (TCX) is expecting to start trading in May this year after all the preparations including the regulations for guiding the market operations which are in the final stages.

The Capital Market and Securities Authority (CMSA), Public Relations Manager, Mr Charles Shirima said in Dar es Salaam yesterday that some companies have shown interests of trading at the country’s commodity exchange but have not been issued with licences.

“The preparations for the Tanzania Mercantile Exchange (TCX) have reached advanced
stage ready for the takeoff in May this year. Companies wishing to trade as commodities
dealers at the exchange are invited to register at the CMSA,” he said.

The TCX is expected to start by trading in coffee, cashew nuts, sesame, rice, sunflower
and probably maize currently traded under warehouse receipt system.

A commodity exchange is a central place where sellers and buyers meet to transact in
an orderly and organised fashion, with clearly specified and transparent rules.

The government backs commodity exchange as an answer to market challenges.

The training of the first commodities dealers, about 60, is ongoing and will end this
July and licensing them will follow thereafter.

The Parliament passed the bill for the establishment of the TCX after amendiing the CMSA law of 1994 to become Capital Markets and Commodities Exchange Act.

The exchange would provide a marketplace where buyers and sellers meet to trade
and be assured of quality, delivery and payment.

Experts in agro-business have it that the exchange will liberate farmers from poverty
through exposure to reliable domestic and export markets.

Liberalisation has its benefits mainly attributed to price determination as a result of market
forces of demand and supply.

Once farmers know what the market price is, they can enjoy fairer negotiations with
purchasers and can make more informed judgments on what to invest in the future and how to market it.


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Posted by on January 21, 2016 in Business News, Tanzania News


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CRDB employs 600 new staff‏

CRDB BANK Managing Director, Dr Charles Kimei

CRDB BANK Managing Director, Dr Charles Kimei

THE CRDB Bank PLC employed over 600 new employees during the last financial year as it seeks to expand and improve its services, the bank’s Managing Director, Dr Charles Kimei, has revealed.

Dr Kimei made the revelation over the weekend at CRDB Azikiwe Premier Branch during
the launch of ‘customer care week’, boasting that the bank was being led by Tanzanians.

The customer care week, according to the banker, is marked to enable employees of
the bank to weigh performance of the bank by meeting with customers.

“Last year our slogan during the customer week was ‘Thank you’ and this year is ‘Thank you
very much’ indicating that we have been able to please many of our customers,” Dr Kimei noted.
One of CRDB’s customers, Ms Rose Rimoi, applauded the bank for improving services and
treating customers with care.

“I have been accessing services at the Azikiwe Premier Branch for the last four years
and I can attest that services have been improving since then,” Ms Rimoi remarked.

The Azikiwe Branch Manager, Fabiola Mussula, said the bank will continue improving services by meeting with customers to understand their needs.

During the week, employees of the bank will engage in corporate social responsibilities

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Posted by on October 5, 2015 in Business News, Tanzania News


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TBL dominates trade at DSE‏

DSE BANNERTHE Dar es Salaam Stock Exchange (DSE) has recorded 98 per cent decline in turnover after posting 2.10bn/- compared to 106.87bn/- of the previous session.

Despite low turnover last week, the Tanzania Breweries Limited (TBL) continued to dominate the trading activities after contributing more than 60 percent of the turnover.

Similarly, the total volume of shares registered 99 per cent decrease to 1.42 million from 8.01 million that changed hands in the preceding market.

According to Zan Securities Limited Weekly Wrap-Ups, the market is likely to remain volatile due to low participation from both local and foreign investors.

The price movements within local listed companies were recorded in seven counters including the Tanzania Oxygen Ltd (TOL) and Tanzania Cigarette Company that led the list of top gainers by increasing by 10/- per share or 1.33 percent and 20/- per share or 0.12 percent respectively.

Top losers during the period under review were CRDB Bank Plc by 10/- per share or 2.63 percent, Tanzania Portland Cement Company Ltd (TPCC) and Swissport Company Ltd by 40 per share or 1.16 per cent and 80/- per share or 1.05 per cent respectively.

Three out of seven cross listed companies recorded a positive price movement at the end of the week; these were; USL, KA and JHL. NMG, ACA, EABL and KCB recorded a negative price movement during the week under review.

The market capitalization decreased by 1.50 percent to close at 22.16tri/- while Domestic Market capitalization decreased by 0.41 percent to close at 9.73tri/-.

Consequently, on a weekly comparison, key benchmark indices were in red territory with the Tanzania share index (TSI) capping at 4,593.15 points to close low by 0.34 percent compared with 4,608.83 points posted a week earlier. All Share Index (DSEI) closed at 2,530.38 points down by 1.52 percent.

The Industrial and Allied Index sustained downward trend by 0.05 percent to close at 6,222.17 points.

Bank, Finance and Investment Index recorded a negative trend by 1.15 percent to close at 2,945.96 points whereas commercial services index capped at 4,024.41 points low by 0.83 percent during the week under review.

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Posted by on September 29, 2015 in Tanzania News


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TBL Conducts a 3 Years Professional training for vendors‏

TBL Conducts a 3 Years Professional training for vendors‏

TANZANIA Breweries Limited (TBL) has embarked on training of small scale entrepreneurs engaged in the sale of its products to improve their businesses.

The TBL Public Relations Manager, Ms Doris Malulu, said in Dar es Salaam yesterday that the three-year programme was aimed at creating awareness, imparting knowledge and skills on how to improve the small scale entrepreneurs businesses.

The training has been organised by TBL in collaboration with Tanzania Association of Business Development Services Providers Company Limited (TAPBDS).

Ms Malulu said, that the training programme involving the TBL small scale entrepreneurs, will see 1,226 entrepreneurs in Mbeya and Dar es Salaam receive the training in the first phase of the programme.

“The company has initiated the plan to enable the business people basically on the scale enterprises to improve their businesses by being financially stable,” she said adding the training is also aimed at paying back to the communities.

According to Ms Malulu, the training is facilitated by the TBL mainly to recognise the entrepreneurs contribution to the development of the company.

“After the training, we will keep on mentoring the beneficiaries of the training (small scale entrepreneurs) to ensure changes towards improving the businesses,” she noted.

On the other hand, the Executive Director of TAPBDS Mr Joseph Migunda the trainings were specifically and professionally organised focusing on imparting knowledge and skills to small scale entrepreneurs engaged in the sale of TBL products.

“It our hope that the training be of importance to the participants towards improving their businesses,” he said.

Meanwhile, TBL called in the TBL small scale enteprenuers to ensure they take part in the training aimed at improving the quality of their businesses.

The programme is a three-year programme scheduled to end in March next year.

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Posted by on September 23, 2015 in Tanzania News


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NBC Introduces ‘Mcheza kwao’ salary account campaign‏

NATIONAL Bank of Commerce is targeting salaried customers by providing more convenient banking services that will be accompanied by various benefits including loans for various purposes.

The NBC Bank Acting Head of Marketing and Corporate Relations, Ms Alina Maria Kimaryo, said in Dar es Salaam yesterday that more people were being encouraged to open salary accounts to enjoy wider range of banking services as well as grab various prizes through ‘Mcheza Kwao’ salary account campaign.

The services also include the recently introduced mortgage scheme “Hamia Kwako.”
She said at the last draw of ‘Mcheza Kwao’ salary accounts campaign that in just three months about 50,000 new and existing customers participated in salary accounts campaign.

During the draw, new and old customers had a chance to win cash of up to 50 per cent of their salary every month. The bank also removed some of bank’s mobile banking transaction costs to lucky winners when doing transactions on their salary accounts.

“Apart from different prizes provided by the bank, participants had a chance to win 50 per cent growth of their salary.

At the same time, our customers were eligible to qualify for the NBC mortgage scheme dubbed ‘Hamia Kwako’ that was launched recently in Dar es Salaam,” NBC Bank Direct and Development Manager, Mr Amos Lyimo, said.

Barclays Africa Group owns a majority stake in National Bank of Commerce in Tanzania and Barclays Bank Tanzania. The Tanzanian government and the International Finance Corporation are also shareholders in National Bank of Commerce.nbc house

Before ABSA Group acquired the Africa operations from Barclays in 2012, it owned 55 per cent of National Bank of Commerce in Tanzania. The merger led to ABSA Group taking on Barclays Bank Tanzania, leaving it invested in two competing banks in Tanzania.

NBC Ltd was formed in 2000 when NBC (1997) Ltd was partly privatized and sold to ABSA Group Ltd now Barclays Africa Group Limited of South Africa.

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Posted by on September 23, 2015 in Business News, Tanzania News


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 Mkurugenzi wa Sensa na Takwimu za Jamii Ofisi ya Taifa ya Takwimu (NBS), Iphrahim Kwesigabo (kushoto), akizungumza katika mkutano na waandishi wa habari Dar es Salaam leo mchana kuhusu mfumuko wa bei wa Taifa kwa mwezi Agosti, 2015. Kulia ni Kaimu Meneja wa Idara ya Takwimu za Ajira na Bei, Ruth Minja.
 Mkutano na wanahabari ukiendelea.
Wanahabari wakichukua taarifa hiyo.
Na Dotto Mwaibale
UWEZO wa shilingi 100 ya Tanzania katika kununua bidhaa na huduma umefikia shilingi 62 na senti 97 mwezi Agosti, 2015 kutoka mwezi Septemba, 2010 ikilinganishwa na shilingi 62 na senti 98 iliyokuwa mwezi Julai, 2015.
Hayo yamebainishwa na Mkurugenzi wa Sensa na Takwimu za Jamii Ofisi ya Taifa ya Takwimu (NBS), Iphrahim Kwesigabo wakati akitoa taarifa kuhusu mfumuko wa bei wa taifa wa mwezi Agosti, 2015 kwa waandishi wa habari ofisini kwake Dar es Salaam leo.
Kwesigabo alisema mfumuko wa bei wa mwezi Agosti 2015 unaopimwa kwa kipimo cha mwezi umeongezeka kwa asilimia 0.02 ikilinganishwa na asilimia 0.41 iliyokuwa mwezi Julai, 2015.
“Fahirisi za bei zimeongezeka hadi 158.81 mwezi Agosti, 2015 kutoka 158.78 mwezi Julai, 2015.
Alisema kuongezeka kwa fahirisi za bei kumechangiwa hasa na kuongezeka kwa bei za baadhi ya bidhaa zisizo za vyakula, baadhi ya bei za bidhaa zisizo za vyakula zilizochangia kuongezeka kwa fahirisi ni pamoja na gesi kwa asilimia 2.0, mafuta ya taa kwa asilimia 2.3, mazulia kwa asilimia 1.4, dizeli kwa asilimia 3.8 na petroli kwa asilimia 8.3.
Gwesigabo alisema kuwa mfumuko wa bei wa Taifa kwa kipimo cha mwaka unapima kiwango cha badiliko la kasi ya bei za bidhaa na huduma zote zinatumiwa na kaya binafsi.
Alisema mfumuko wa bei wa taifa kwa mwezi Agosti, 2015 umebaki kuwa asilimia 6.4 kama ilivyokuwa mwezi Julai 2015.
Aliongeza kuwa hali hiyo inamaanisha kuwa kasi ya upandaji wa bei za bidhaa na huduma kwa mwaka ulioishia mwezi Julai, 2015.
Alisema Fahirisi za bei zimeongezeka hadi 158.81 kwa mwezi Agosti, 2015 kutoka 149.31 mwezi Agosti, 2014.
Alisema Mfumuko wa bei wa bidhaa za vyakula na vinywaji baridi kwa mwezi Agosti 2015 umepungua hadi asilimia 10.2 kutoka asilimia 10.6 ilivyokuwa mwezi Julai 2015.
Alisema mfumuko wa bei kwa baadhi ya nchi za Afrika Mashariki mfumuko wa bei nchini una mwelekeo unaokaribiana na baadhi ya nchi nyingine za Afrioka Mashariki ambapo mfumuko wa bei kwa mwezi Agosti 2015 nchini Kenya umefikia asilimia 5.84 kutoka asilimia 6.62 mwezi Julai, 2015 na Uganda umefikia asilimia 4.80 kutoka asilimia 5.4 mwezi Julai, 2015.
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Posted by on September 8, 2015 in Tanzania News


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nbc houseBENKI ya NBC imezindua mpango wa zawadi kwa wateja utakaowawezesha kupata punguzo na ofa kutoka kwa washirika wenye maduka zaidi ya 25 nchini.

NBC wamezindua mpango huo kuwashukuru wao wenye kipato cha juu na cha kati.

Mkuu wa Kitengo cha Bidhaa za Amana cha benki hiyo, Andrew Massawe amesema, mpango huo ni maalumu kwa wateja wenye akaunti binafsi.

Massawe amesema, washirika wa benki hiyo wanaoweza kupata punguzo la hadi asilimia 30 ya bei halisi ni pamoja na wamiliki wa maduka, migahawa na hoteli.

Kwa mujibu wa Massawe, watakaopenda kufurahia huduma hiyo wanaweza kujiunga na mpango huo baada ya kukidhi vigezo.

“Mteja atapewa kadi maalumu kutoka benki inayomtambulisha kama mwanachama wa Mpango wa kuzawadiwa wateja wa NBC,” alisema.

Alisema katika awamu ya kwanza, huduma zitapatikana kwenye matawi yote ya NBC Dar es Salaam, Arusha na Mwanza.

Mkurugenzi Mtendaji wa benki hiyo, Edward Marks amesema, NBC itaendelea kuwekeza na kuimarisha mtandao wa matawi yake nchini ili kila mteja afurahie huduma za benki hiyo.

Alisema waliamua kuwekeza zaidi kwa kuweka kitengo kinachohusika na wateja maalumu katika tawi la Sea Cliff, Dar es Salaam, ikiwa ni pamoja na kuongeza kitengo kama hicho kwenye tawi la Corporate la jijini humo.

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Posted by on September 7, 2015 in Business News


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