A blog that gives out financial institutions news on time with accurate informations.


  • CRDB Bank Share up 16PC in three weeks

    CRDB bank share price has made an abrupt U-turn after appreciating by 16 per cent in the last three weeks.

  • TIB slashes losses, bad loans up!

    TIB Development Bank has considerably reduced its net loss 17 times to 582m/- in this year quarter two (Q2) after cutting expenses.

  • MALINZI blesses TFF elections

    THE ousted Tanzania Football Federation (TFF) President Jamal Malinzi has expressed gratitude to the government, sponsors and football stakeholders in the country for their massive support.

  • Barrick, government talks next week

    BARRICK Gold will begin discussions with the government on the concentrate export ban and other issues next week

Saturday, July 29, 2017

CRDB bank share up 16pc in three weeks


CRDB bank share price has made an abrupt U-turn after appreciating by 16 per cent in the last three weeks.

The share opened the month trading at 180/- a piece but closed the market at 210/-yesterday as brokers terming the trajectory as relocating to proper price.

However, the largest back still has ways before reaching the beginning of the year price of 250/- a share. Zan Securities Chief Executive Officer Raphael Masumbuko said CRDB share price was “very low” compared to its real value and was moving to appropriate price.

“The share was underpriced. At least are now walking to a real proper price,” Mr Masumbuko told ‘Daily News’ yesterday. Last May, CRDB share exchanged hands at 400/- to be the all-time high price.

However, due to tight liquidity the share went into bearish mode depreciating to this year low of 180/-. During initial primary offer (IPO) the shares were sold at 170/-. Mr Masumbuko said investors have a breathing space after Vodacom IPO that comes to an end this Friday.

“Most stock buyers wanted to buy Vodacom since the beginning of the year, now the pressure is off investors are looking for new items,” Mr Masumbuko said. In the first quarter of this year the economy experienced a lowest ever money in circulation forcing many sellers.

The trend resulted into shares glut and many, almost across the board, prices plummeted to lowest rate in years.

For instance CRDB share plunged 16 per cent to 210 since January. The worst performing share at the bourse since January was Swissport that went down 30 per cent to close yester-trading at 3,820/-.

It was followed by Twiga Cement that plunged 22 per cent to 1,780/-. On the other hand Dar es Salaam Stock Exchange (DSE) stock was the best performer so far after appreciated 18 per cent to 1,180/- yesterday.


The second best performer stock was TBL that went up 8.0 per cent to close at 13,000/- as of yesterday.
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TIB slashes losses, bad loans up


TIB Development Bank has considerably reduced its net loss 17 times to 582m/- in this year quarter two (Q2) after cutting expenses.

The bank net loss reduction came after slashing its workforce from 168 of similar quarter last year to 145 staff in Q2 this year.
The staff expenses, salaries and benefits, went down 10 per cent from 4.05bn/- to 3.63bn/- while other noninterest expenses cut from 2.24bn/- to 2.16bn/-.

According to the financial statement released yesterday, the development bank set aside 6.63bn/- in Q2 for impairment losses compared to 16.71bn/- of Q2 last year.

Also TIB wrote off 23m/- in bad debts in Q2 against a titanic 3.28bn/- struck off balance sheet in Q2 last year.

However, despite reducing a fund for bad debts, the bank nonperforming loan ratio increased 42 per cent in Q2 from 38 per cent in Q1 this year. Industry NPLs benchmark is 5.0 per cent.

The bank loaned out 590.12bn/- in Q2 down from 640.44bn/- in Q1, which was 7.0 per cent lower. On other hand customer deposits also sunk 7.0 per cent to 260.73bn/- from 280.44bn/-.

Despite decreasing of loan amount the bank net interest income increased by some 5.0 per cent to 10.79bn/- in Q2 from 10.2bn/- similar quarter last year.While nonincome interest declined by almost half to 829m/- from 1.94bn/-.

In quarter one this year, TIB Development Bank was among top five banks with high NPLs.

The bank NPLs was in an increase pattern in since last year’s Q4. The ratio climbed to 34 per cent in Q4 last year then 38 per cent in Q1 and 42 per cent in Q2.


TIB Development Bank, with two subsidiaries—TIB Corporate and TIB Rasilimali, brokerage firm, is the premier national development financing bank for promoting sustained economic growth and poverty alleviation.
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Malinzi blesses TFF elections


THE ousted Tanzania Football Federation (TFF) President Jamal Malinzi has expressed gratitude to the government, sponsors and football stakeholders in the country for their massive support that he said helped push development of the sport countrywide.

Malinzi, who is currently in custody allegedly for involvement in frauds and money laundering, has pulled out of the presidential race after the Prevention and Combatting of Corruption Bureau (PCCB) detained him, accusing him of various charges including embezzlement of funds and misuse of the office, yesterday expressed his gratitude through his lawyers from Rwegoshora Advocates firm.

Malinzi thanked the fifth phase government and all stakeholders for their support during his era in the federation as well wishing all the best the candidates of the eagerly awaited TFF general election set for August 12 in Dodoma.

Malinzi called the election very essential since it will unveil the new president who will open a new chapter in the country’s football.

In the statement, Malinzi said he believes and have faith on the coming TFF leadership to be elected in Dodoma, hoping to put his focus in vital issues in the country’s football development like youth and women soccer development programmes as well as making good preparation for the 2019 U-17 Africa Cup of Nations to be hosted in the country by improving the infrastructure for the sport.

Malinzi was forced to withdraw from defending his presidential post in the August 12 elections on June 29 after being detained by PCCB alongside TFF Secretary General, Selestine Mwesiga and the federation’s financial officer, Nsiande Isawafo Mwanga.

They are facing 28 charges including money laundering. In all 28 charges, Malinzi faces 25 of them while the remaining three are leveled on Mwesiga and Nsiande Isawafo Mwanga.

The federation presidential race’s preliminary list before the final list to be released by the TFF electoral committee under Advocate Revocatus Kuuli, includes Fredrick Mwakalebela, Ally Mayai, Shija Richard, Imani Madega, Emmanuel Kimbe and Wallace Karia.

While the Vice-Presidential post candidates are Mulamu Ng’hambi, Michael Wambura, Mtemi Ramadhani, Stephen Mwakibolwa and Robert Selasela.

It misses Geoffrey Nyange has withdraw from contesting the post after also being detained by the PCCB. Malinzi came into office after the October 2013 TFF elections having scooped 72 votes out of 126 to defeat his opponent Athumani Nyamlani, TFF is currently under the tutelage of interim president Wallace Karia and interim Secretary General Salum Madadi.

Meanwhile , S h a f f i h Dauda who was vying for the post of the TFF E x e c u t i v e Committee yes t e r d ay announced his withd r a w a l from the post, a decision which has come few days after being held for hours by PCCB in Mwanza alleging to have been involved in corruption.


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Friday, July 28, 2017

Barrick, government talks next week


BARRICK Gold will begin discussions with the government on the concentrate export ban and other issues next week.

“Barrick is doing so in its capacity as Acacia’s largest shareholder holding 63.9 per cent equity interest,” Barrick said in financial statement yesterday.

This follows a meeting between President John Magufuli and Barrick’s Chairman John Thornton last month agreeing to hold discussions to resolve the row.

Barrick holds 63.9 per cent equity interest in Acacia Mining which is a publicly traded company listed on the London Stock Exchange.

Barrick subsidiary Acacia Mining has three mines in Tanzania of which Buzwagi and Bulyanhulu have been hit by export ban on concentrates of gold and copper ore in March. The other one is North Mara Gold Mine.

Acacia is not participating directly in the discussions at this stage, however it intends to work with Barrick as necessary to support the process.

Any potential resolution arising from these discussions will be subject to approval by Acacia.

Barrick said further that it continues to monitor the situation, and should Acacia revise its full-year outlook it will evaluate the impact to its own guidance at that time. Any impact will depend, in large part, on the duration of the concentrate export ban.

Acacia operations impacted by the current ban on concentrate exports account for approximately six per cent of Barrick’s 2017 gold production guidance.

In total, Acacia accounts for approximately 10 per cent of Barrick’s 2017 gold production guidance. Currently Acacia said it continues to evaluate the impact of Tanzania’s concentrate export ban, as well as recently enacted legislation, on its 2017 production guidance.

Acacia has not revised its fullyear production guidance to reflect any change to annual output as a result of the concentrate export ban currently in place, but has stated that it is now targeting the lower end of its guidance range.

Acacia has also indicated that, given the rate of cash outflow, it does not believe continued operations are sustainable at its Bulyanhulu mine beyond September 30.


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Bank M celebrates 10 years of profitability


BANK M, a local young bank, yesterday marked the tenth anniversary of which it managed to post profit increase throughout those years.

On top of that, the bank crossed a 1.0tri/- assets line last year, which took other star-up banks an average of 17 years, according to the bank.

Bank M’s CEO Jacqueline Woiso said that the bank’s growth has been tremendous including surpassing 1.0tri/- assets mark 9th year of operations. “It is not only the numbers which we are celebrating, but it’s the tremendous achievements which are evidently seen for the past 10 years.

“Considering the bank’s overwhelming in different aspects being in technology, service delivery, profitability as well as corporate social responsibility,” said Jacqueline.

Bank M has been growing steadily over the past 10 years of operation to attain a high benchmark in performance including turning profitable in the second year of its operations.

“We became the first bank in Tanzania to operate from 8am to 8pm and from Sunday to Sunday,” Ms Jacqueline said.

The bank has contributed substantially in supporting community development activities through their Corporate Social Initiative—Money@ heart engaging with high calibre partners in facilitating various projects in health, education, water and sanitation, environment conservation and promotion of local artists and entrepreneurs.

Bank M has four branches, two in Dar es Salaam, one each in Arusha and Mwanza.

It has received several internationally recognition and awards from the highly reputable organizations.

Some of the awards are Commercial Bank of the Year-Tanzania for 2015 presented at the London Stock Exchange, the Best Corporate Bank in East Africa, the Best Community Development Bank in East Africa and recently the Best Corporate Bank-Tanzania and the Best Customer Service-Tanzania by Banker Africa.


“We are still determined to take this forward and continue to position our bank as a brand to reckon with,” attributed Ms Jacqueline
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Thursday, July 27, 2017

NBC Yazindua Klabu ya Biashara mjini Kahama

Meneja Mahusiano wa Benki ya NBC, William Kallaghe (kushoto), akizungumza wakati wa uzinduzi rasmi wa Klabu ya Biashara ya benki hiyo mjini Kahama, Shinyanga jana. Klabu hiyo imeanzishwa kusaidia mahitaji ya wateja wafanyabiashara wadogo na wa kati. Katikati ni mmoja wa wateja, Salum Selemani na Joshua John (kulia), Ofisa Masoko wa Chama cha Wafanyabiashara wenye Viwanda na Kilimo (TCCIA) kutoka ofisi ya Mwanza.
Meneja Mahusiano wa Benki ya NBC, William Kallaghe (kushoto), akizungumza na baadhi ya wafanyabiashara wa mjini Kahama, katika semina iliyoandaliwa kabla ya  uzinduzi  rasmi wa Klabu ya Biashara ya NBC hiyo iliyoanzishwa kusaidia mahitaji ya wateja wafanyabiashara wadogo na wa kati. Hafla ya uzinduzi ilifanyika mjiini Kahama, Shinyanga jana.
Meneja wa Kanda wa NBC, Daudi Mfalla (kulia), akizungumza wakati akizungumza katika hafla ya uzinduzi  rasmi wa Klabu ya Biashara ya NBC  iliyoanzishwa kusaidia mahitaji ya wateja wafanyabiashara wadogo na wa kati. Kushoto ni Mkuu wa Kitengo cha Wafanyabiashara wadogo na wakati wa NBC, Evance Luhimbo.
Baadhi ya wateja wa NBC mjini Kahama waliohudhuria uzinduzi wa B-Club ya benki hiyo, wakijipiga picha ‘selfie’ pamoja na bango lenye picha inayoonyesha kilele cha Mlima Kilimanjaro ikiwa ni baadhi ya shamrashara zilizopamba uzinduzi huo.
Wafanyakazi wa NBC tawi la Kahama wakipozi kwa katika hafla hiyo.

Wasanii wakionyesha umahiri wao kucheza ngoma ya kadete ya kabila la wasukuma katika hafla ya uzinduzi wa B-Club mjini Kahama, Shinyanga jana.
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Ngoma Africa Band aka FFU-Ughaibuni kuliamsha Dude Bonn, Ujerumani Siku ya Ijumaa 28 Julai 2017 Saa 2.00 Usiku


Bendi maarufu ya muziki wa dansi barani ulaya Ngoma Africa band aka FFU -Ughaibuni au Viumbe wa ajabu "Anunnaki Aliens" yenye makao yake nchini Ujerumani inatarajiwa kutumbuiza katika onyesho la wazi la Orient-Afrika litakalo fanyika mjini Bonn,Ujrumani siku ya Ijumaa 28.Julai 2017 saa 2.00 Usiku (20.00 hrs).

Bendi hiyo inayoongozwa na Kamanda Ras Makunja inadumu katika medani ya muziki kwa miaka 24 na kufanikiwa kuteka mashabiki wa kimataifa, pamoja na kuachia nyimbo na CD kadha.


Bendi hiyo imejizolea umaarufu katika majukwaa ya kimataifa kwa mdundo wa  Extraordinary "Bongo Dansi"  unaowatia kiwewe mashabiki barani ulaya.



Usikose kujumuika nao kupitia:

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MAWAZIRI WATANO WAFANYA ZIARA MPAKA WA TANZANIA NA UGANDA

Waziri wa Ardhi, Nyumba na Maendeleo ya Makazi Mhe. William Lukuvi akiongea na Mkuu wa Wilaya ya Missenyi Luteni Kanali Denice Mwila kuhusu changamoto za mpaka huo wngine ni Naibu Waziri wa Nchi Ofisi ya Rais Tawala za Mikoa na Serikali za Mitaa Mhe. Suleman Jaffo, Naibu Waziri wa Mambo ya Ndani ya Nchi Mhe. Hamad Masauni, Naibu Waziri wa Maji na Umwagiliaji Mhe. Mhandisi Isack Kamwelwe na Naibu Waziri wa Mambo ya Nje na Ushirikiano wa Afrika Mashariki Mhe. Suzan Kolimba.

Jiwe la mpaka wa Tanzania na Uganda namba 30.

Ujumbe wa Mawaziri kutoka Serikali ya Jamhuri ya Muungano Tanzania wakiwa juu ya Jiwe la mpaka wa Tanzania na Uganda namba 30.

Moja ya jiwe la mpaka wa Tanzania na Uganda ambalo Mawaziri wamefanya ziara ya kuliona.
Ujumbe wa Mawaziri kutoka Serikali ya Jamhuri ya Muungano Tanzania wakipita katika eneo la kivuko cha mpaka wa Tanzania na Uganda kilichopo Mtukula mkoani Kagera.
Ujumbe wa Mawaziri kutoka Serikali ya Jamhuri ya Muungano Tanzania wakikagua huduma za vibali vya kuingia na kutoka nchini Tanzania na Uganda zilizopo Mtukula mkoani Kagera.
Eneo la mpaka ya Tanzania na Uganda kwa upande unapo pita mto Kagera.

Mawaziri watano wa Serikali ya Jamhuri ya Muungano wa Tanzania watembelea mpaka wa Tanzania na Uganda ili kutatua changamoto zinazoukabili mpaka huo na kuuboresha.

Mawaziri hao ni Waziri wa Ardhi, Nyumba na Maendeleo ya Makazi Mhe. William Lukuvi, Naibu Waziri wa Mambo ya Ndani ya Nchi Mhe. Hamad Masauni, Naibu Waziri wa Nchi Ofisi ya Rais Tawala za Mikoa na Serikali za Mitaa Mhe. Suleman Jaffo, Naibu Waziri wa Mambo ya Nje na Ushirikiano wa Afrika Mashariki Mhe. Suzan Kolimba na Naibu Waziri wa Maji na Umwagiliaji Mhe. Mhandisi Isack Kamwelwe.

Miongoni mwa maeneo yaliyotembelewa na Mawaziri hao ni eneo la mpaka ya Tanzania na Uganda kwa upande unapo pita mto Kagera na eneo la kivuko cha mpaka wa Tanzania na Uganda kilichopo Mtukula mkoani Kagera.

Katika ziara hii Mawaziri hao wameweza kujionea hali halisi ya maisha ya wakazi wa mipakani na jinsi wanavyohusiana na wenzao wa nchi ya jirani ya Uganda ambapo wamekuwa wakishirikiana na kuishi kwa amani katika shughuli zao za kila siku.


Aidha, ziara hii ni maandalizi ya Mkutano wa ujirani mwema kati ya Mawaziri wa serikali ya Uganda na Mawaziri kutoka Serikali ya Jamhuri ya Muungano wa Tanzania ambao unatarajiwa kufanyika mnamo tarehe 29 Julai 2017, Bukoba mkoani Kagera. 
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