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

Thursday, September 30, 2021


Mkuu wa Kitengo cha Biashara wa Benki ya Absa Tanzania, Melvin Saprapasen (kushoto), akimkabidhi vitanda na magodoro Mkurugenzi wa shule ya sekondari ya At – Taaun, Ali Betit kama sehemu ya majukumu ya benki kutoa kwa jamii kufuatia na uhitaji wa shule hiyo baada ya ajali ya moto kuteketeza thamani vikiwemo vitanda na magorodo hivi karibuni. Hafla hiyo ilifanyika shuleni hapo, Morogoro hivi karibuni.
Mkuu wa Kitengo cha biashara kutoka Benki ya Absa Tanzania Melvin Saprapasen (wa pili kulia), akizungumza kabla hajakabidhi vitanda na magodoro kwa Mkurugenzi wa shule ya sekondari ya At – Taaun, Ali Betit (kulia kwake), kama sehemu ya majukumu ya benki kutoa kwa jamii kufuatia na uhitaji wa shule hiyo baada ya ajali ya moto kuteketeza thamani vikiwemo vitanda na magorodo. Hafla hiyo ilifanyika shuleni hapo, Morogoro jana.
Meneja Huduma za Kijamii wa Benki ya Absa Tanzania, Hellen Siria (kushoto), akitoa salamu za pole kwa baadhi ya wanafunzi wa shule ya sekondari ya wasichana ya At – Taaun kufuatia ajali ya moto iliyoteketeza vitanda na magodoro ambapo benki hiyo imekabidhi vitanda 15 na magodoro ili kupunguza kero wanazokumbana nazo wanafunzi baada ya ajali hiyo. Ilikuwa ni katika hafla ya kukabidhi msaada huo shuleni hapo, mjini Morogoro, jana.
Baadhi ya wanafunzi wa shule ya sekondari wasichana ya At – Taaun iliyopo manispaa ya Morogoro wakiwa katika picha ya pamoja na wawakilishi kutoka Benki ya Absa Tanzania na viongozi wa shule hiyo mara baada ya kupokea msaada wa vitanda na magodoro vilivyotolewa na Absa shuleni hapo jana.
Vitanda vilivyotolewa msaada na Benki ya Absa Tanzania kwa Shule ya Sekondari ya wasicha At – Taaun iliyopo Manispaa ya Morogoro baada uhitaji mkubwa kwa wanafunzi wa shule hiyo kutokana ajali ya moto iliyoteketeza mali za wanafunzi, vitanda na magodoro hivi karibuni. Picha hii imepigwa wakati wa makabidhiano ya vitanda hivyo shuleni hapo, Morogoro jana. 

Tuesday, September 28, 2021

Government still committed to review labour laws


Minister of State Prime Minister's Office Policy, Parliament, Labour, Youth, and the Disabled Hon. Jenista Mhagama (MB), addresses invited guests during the congratulations and farewell party to outgoing Executive Director and CEO of the  Association of Tanzania Employers (ATE) Dr. Aggrey Mlimuka, who has completed his term of office in the organization, at the event organized by the Association of Tanzania Employers (ATE) at the Serena Hotel in Dar es Salaam yesterday.02

The outgoing Executive Director and CEO of Association of Tanzania Employers (ATE) Dr. Aggrey Mlimuka, speakwhile bidding farewell to the association’s staff and various stakeholders upon completing his term of service in the organization, on the occasion officiated by the Minister of State in the Prime Minister's Office Policy, Parliament, Labor, Youth, and the Disabled Hon . Jenista Mhagama.The event was organized by the Association of Tanzania Employers (ATE) at the Serena Hotel in Dar es Salaam yesterday.
Minister of State Prime Minister's Office Policy, Parliament, Labor, Youth, and the Disabled Hon. Jenista Mhagama (MB) (left), presenta gift to outgoing Executive Director and CEO of Association of Tanzania Employers (ATE) Dr. Aggrey Mlimuka, offered by the association during the ceremony to congratulate and bid him farewell immediately after completing his term of service in the organization. To the left are the Chairman of the Board of ATE, Ms. Jayne Nyimbo, and Dr. Aggrey Mlimuka’ spouse.
The new Executive Director and CEO of the Association of Tanzania Employers (ATE), Advocate Suzanne Ndomba, addresses the invited guests during the ceremony to congratulate and bid farewell to outgoing Executive Director and CEO of the association, Dr. Aggrey Mlimuka, who has completed his term of office, in a ceremony was organized by the Association of Tanzania Employers (ATE) at the Serena Hotel in Dar es Salaam yesterday. Photo by Brian Peter

By Our Reporter


The government is committed to review labour policies, laws and legislation to make sure that the employment sector rhymes with the prevailing social-economic situation,  the minister in Prime Minister’s Office, Policy, Parliament, Labour, Youth, Employment and People with Disability Jenista  Mhagama has pointed that out during her official address as the guest of honour at a farewell party to outgoing Executive director and chief Executive Officer of Association of  Tanzanian Employers (ATE),Dr. Aggrey Mlimuka.


 “Some of our laws are outdated and need to be reviewed in order to reflect the situation,” said the minister,” calling on ATE and other stakeholders, TUCTA in particular, to work together towards achieving that aim, and noted that the government will continue to maintain relationship with stakeholders in the tripartite partnership involving employers, labour unions and the government. 


Describing Dr. Mlimuka as Mimura having worked as a Tanzanian and as a patriot who loves his country and did everything dutifully, the Minister credited Dr. Mlimuka for his involvement in various initiatives in employment sector, including valuable inputs in in the review of computation of benefits, minimum wage in public and private sector, in review of laws, in conferences, working conditions.


“It is difficult to say that we are saying goodbye, but we are celebrating your outstanding leadership and we shall continue to benefit from your outstanding experience,” said incoming ATE Executive Director and Chief Executive Officer, Suzanne Ndomba of her predecessor, herself a product of a leadership programme under ATEA conducted through training to empower women to take leadership positions, which is itself a brainchild of Dr. Mlimuka.


Incoming ATE Executive Director Suzanne Ndomba noted that most women who had participated in the leadership programme for women created by ATEA had ascended to top leadership positions and most are top directors in big renown companies in the country. in the country We shall continue to improve relationship with other stakeholders in order to join efforts to help implement various projects


To the incoming director, minister Mhagama said It isa challenge to take over an office that have been occupied by a person of Dr. Mlimuka’s caliber, however, she said incoming executive director Suzanne Ndomba has the capacity, “we know her and we are confident that she will carry her duties effectively’.’


Said the minister: “As the government, we shall give you cooperation, and it is possible because nowadays our relations between the government and labour stakeholder have improved to a point that every problem is solved through dialogue and we have been having been succeeding that way, we as stakeholder’s expert that you shall help us steer the organization following on the footsteps of Dr. Mlimuka.”


The minister commended ATE for having a succession plan. “We should prepare people to help us when we retire and at the same time learn to appreciate that others too have the capacity to take over. ATE has added to the number of many women in leadership and has helped to reassure people that women too can step into other people’s shoes, it is an example to other institutions that women are capable of leading,” said Minister Mhagama.


The minister said there was every reason to uphold the women leadership programme and make sure it was scaled up to reached out to all women, “It should be a long chain which has no ends and a memory for Dr. Mlimuka as the initiator. I Call upon those that were mentored by Dr. Mlimuka to inherit the good things and put them to proper use on our part in the government, we shall continue to cooperate with ATE effectively, together with labour unions,” said Minister Mhagama.


The Association of Tanzania Employers (ATE) is the most representative Employers’ Organization in Tanzania which was formed in 1960, established by Law and currently under Employment and Labour Relations Act, 2004 to represent the interest of Employers on Labour and Employment issues.

The Association represents employers in all sectors of the national economy excluding the civil service.
 ATE Membership currently stands at 1400 direct members and 7500 indirect members drawn from private business firms, companies and some parastatal organizations.


Friday, September 24, 2021



Tanzania Commercial Bank has vowed to use its recently formed Business Forum for Women to promote women’s economic dignity and prosperity by making finance work for them.


The oldest bank in the country says it will accomplish the noble mission by becoming market leader for advancing their financial inclusion and the top driver of innovative financial services for this potentially lucrative market segment.


The ultimate goal of the undertaking, senior officials of the bank explained here yesterday, is to support efforts of the government to empower them economically and boost their effective engagement in productive activities.


Speaking during the second edition of the TCB Business Forum for Women, the officials said the endeavour revolves around catapulting women banking to unprecedented new heights.


The strategy to make that possible, they noted, mostly involves enlightenment on available economic empowerment and entrepreneurship opportunities at the bank.


Equally important, the forum’s resource persons explained, will be use of existing and new innovative financial solutions that will be supported by TCB’s financial muscle, digital prowess, unrivalled market outreach and its innovation champions.


The Mbeya TCB Business Forum for Women attracted about 250 participants who used the roundtable to discuss and share business ideas and experiences, network, forge alliances and learn from the bank’s experts.


It was officially opened by Deputy Speaker Dr Tulia Ackson, who said women are a formidable but sidelined economic force. The Mbeya Urban lawmaker said focus of the forum’s deliberations was timely and augurs well with the government’s efforts to leave no woman behind in creating a prosperous Tanzania.


“With this initiative, TCB is going to play a significant transformative role in changing the financial and economic status of women. I congratulate you for coming up with this idea and investing time and resources to make it a success,” Dr Ackson noted.


Premised on the theme of “The Role of Women in the Development of the National Economy” the TCB women empowerment platform was officially launched early this month in Dodoma.


CEO Sabasaba Moshingi said similar roundtables will be organised in Zanzibar, Morogoro, Arusha, Mwanza and Dar es Salaam with the next scheduled to be held in the isles next month. The forums also accord participants a platform to see, hear and learn from successful businesswomen and get to know TCB and its services better.


“With the many economic barriers women face and the financial challenges they encounter, we are committed to ensure this financial and economic empowerment agenda delivers the desired result,” Mr Moshingi emphasized.


“Through these forums, we want to serve the women market segment better and get to know their unique financial needs,” he noted. “The ultimate goal is to enhance the contribution of women in national building.”


The CEO told the TCB success story during 2007 – 2020 to illustrate the viability of the new networking platform and why he is optimistic it will succeed. He said during the period the fortunes of the 96-year old lender blossomed splendidly with its balance sheet ballooning by over 1,000 per cent to top slightly above TZS 1.04 trillion in 2020.


Its loan book surged to TZS704 billion at the end of quarter one this year. TCB special services for women include Tabasamu account and several credit facilities.


To date, the bank has extended over TZS 120 billion loans to women who account for about 50 per cent of its one million customers. In fiscal year 2020/21, TCB loaned 7,637 women-owned and run micro and small enterprises some TZS 25.81 billion.


“The takeover of TWB in 2018 obliges us to give special attention to women banking and that’s why we are here today,” he pointed out.


Some of the forum’s resource persons, who were all TCB women staff, said the gatherings seek to show the bank’s readiness and ability support women entrepreneurs.


They said TCB offers women abundant commercial and empowerment opportunities through services such as its Nishike Mkono Bima and Kinamama Policy bancassurance solutions.





For More Information

Ms. Chichi Banda

Corporate Affairs’ Unit

0682 136414


Wednesday, September 15, 2021

Chevron Brands International yaingia Mkataba na Tristar (AFAL) wa makubaliano ya utenegenezaji wa vilainishi katika Afrika Mashariki


Afisa wa Kimataifa wa Bidhaa za DRM Steve Hoffman (kushoto), na Mkurugenzi Mtendaji wa Tristar Group Eugene Mayne, wakitia saini makubaliano ya BBDA kutoka maili mbali yenye lengo la kufanya kazi pamoja na kutengeneza na kusambaza na kuuza mafuta ya vilainishi ya CaltexTM katika nchi za Kenya, Uganda, Tanzania, Rwanda, Burundi na Jamhuri ya Kidemokrasia ya Congo (DRC).

Chevron Brands International yaingia Mkataba na Tristar (AFAL) kwenye leseni ya vilainishi na makubaliano ya utenegenezaji katika Afrika Mashariki.
  • Mkataba mpya utaimarisha vilainishi vya Caltex kuongezeka Afrika Mashariki
(Dar es Salaam, Tanzania) Septemba 15, 2021: Kampuni ya Chevron Brands International LLC (Chevron) na AFAL Manufacturing Limited (AML) iliyopo chini ya Tristar Group, wameingia makubaliano ya muda mrefu ya kutengeneza na kusambaza na kuuza mafuta ya vilainishi ya CaltexTM katika nchi za Kenya, Uganda, Tanzania, Rwanda, Burundi na Jamhuri ya Kidemokrasia ya Congo (DRC). Pamoja na kuingia kwenye mkataba huu, Chevron imeimarisha uwepo wake ambao tayari unakua katika Ukanda wa Afrika Mashariki na kukabidhi leseni ya shughuli zake kwa AML.

Vilainishi vya mafuta vya chapa ya Caltex, vimekuwa vikipatikana katika nchi za Afrika Mashariki tangu mwaka 2013 vikisambazwa na kwa makubaliano na Africa Fuels & Lubricants Ltd (AFAL), pia ya Tristar Group. Kuaminiana na kuridhika kutoka kwa ushirikiano huu uliofanikiwa, ilikuwa ni sababu kubwa katika utambuzi wa kuingia makubaliano ya leseni ya muda mrefu. Kwenye upeo huu mpya, Chevron itatoa teknolojia inayoongoza ulimwenguni, na AML itachanganya, kuuza, na kusambaza vilainishi vyenye nembo ya Caltex kupitia mtandao wake mpana na kuingia katika soko la ushindani Afrika Mashariki.

Chevron ina historia Afrika Mashariki, na tumejipanga katika miongo saba na tulianza ushirikiano na AFAL tangu mwaka 2013. Zaidi ya miaka nane, uhusiano wetu na AFAL umekuwa kwa namna moja hadi nyingine, na tunafurahia kuanza makubaliano mapya na AML, ambayo yatasaidia bidhaa za Caltex kusambaa maeneo yote ya Afrika Mashariki. Makubaliano haya yatajumuisha kukua na kusambaa kwa bidhaa hizo,” alisema Douglas Rankine, Meneja Mkuu wa Mafuta na Vilainishi Mashariki ya Kati na Afrika. “Pande zote mbili zilijitahidi wakati wa janga la korona na kuafikia mkataba huu, hivyo kuonyesha uhusiano ulioboreshwa unaotegemea uaminifu, uadilifu na utendaji.

Kufanikiwa kwa makubaliano haya ya leseni na kuongezeka kwa mahitaji ya vilainishi katika mikoa, kulikuwa na sababu kuu katika kujenga zaidi uhusiano kati ya Tristar Group na Chevron, na itatambua kuingia katika soko jipya la Tanzania kama soko la AML.

Uhusiano huu wa kimkakati wa muda mrefu ni kielelezo cha kujitolea na uhakikisho wa Chevron kwa wateja, katika masoko ya Afrika Mashariki kutoa bidhaa bora na kuchangia maendeleo ya kiuchumi ya eneo hilo kupitia ushirikiano wa Chevron na AML katika soko la vilainishi vya Afrika Mashariki.

AML ina uhakika kuwa hatua hii itawezesha chapa ya Caltex kupata sehemu kubwa ya soko katika eneo la Afrika Mashariki kwa kutumia faida za gharama na ushirikiano wa mchanganyiko wa ndani.

Kuchaguliwa na Chevron kwa jukumu hili muhimu ni onyesho la kujiamini katika uhusiano wa muda mrefu kati ya Chevron na Tristar Group tangu AFAL ilipopewa makubaliano ya usambazaji wa vilainishi na Chevron mwaka 2013, na itatumika kama sehemu ya uzinduzi wa vilainishi vyenye asili ya Caltex kupanua mauzo katika ukanda wa Afrika Mashariki. Tuna hakika kuwa uchanganyaji wa ndani ni hatua inayofaa kwa biashara hii kubaki kuwa na ushindani, na hatutaokoa juhudi yoyote kuimarisha msimamo wa chapa ya Caltex Afrika Mashariki,” alisema Mtendaji Mkuu wa Tristar Group, Eugene Mayne.

Tristar ni Kampuni ya Biashara ya Kimataifa ambapo Makao Makuu yake ni Dubai, ambayo inatoa suluhisho na vifaa vya mafuta kwa wateja pamoja na kampuni za kitaifa na kimataifa, na mashirika ya serikali. Pia inajumuisha vifaa vya nishati katika usafirishaji wa nchi kavu na majini, maghala maalum, mashamba ya mafuta, biashara ya mafuta ya ndege na shughuli za usambazaji wa mafuta.

AML imejitolea kutengeneza vilainishi vya hali ya juu kulingana na viwango vya Chevron na imejitolea kushughulikia mahitaji ya wateja na matarajio ya soko yanayozidi kuongezeka nchi za Afrika Mashariki.

Pamoja na uhusiano huu wa kimkakati, Chevron na Tristar Group, wanawekeza zaidi kufikia kuongezeka kwa mahitaji ya vilainishi vyenye asili ya Caltex, ambayo inashughulikia sekta ya watumiaji, biashara na viwanda katika eneo lote la Afrika Mashariki.

Thursday, September 9, 2021




Managing Director (MD) of the Tanga Cement PLC, Mr. Reinhardt Swart,

Tanga Cement PLC scoops NOSA International Award

09 September 2021, Tanga, the leading cement manufacturer in Tanzania, Tanga Cement Company

Limited (TCPLC), has recently scooped the NOSA International Award.

NOSA – the National Occupational Safety Association – is South Africa's leading provider of occupational

health, safety and environmental training solutions which was launched in 1951 by the South African

government to reduce injuries and fatalities at the workplace.

NOSA is currently South Africa’s leading occupational health, safety and environmental training provider,

offering more than 100 safety-related training courses, skills programmes and qualifications which have

been awarded various local and international accreditations.

According to the Managing Director (MD) of the Tanga Cement PLC, Mr. Reinhardt Swart, the NOSA Award

is usually bestowed upon companies and other institutions which exemplify the very highest standards of

Safety, Health and Environmental compliance – and, thus, “exceptional performance in managing

workplace hazards and risks.”

Speaking on the Award, Mr Swart said “this is a safety record for Tanga Cement PLC. It is a big achievement

for us not only as a NOSA International Award winner but also as the 1

st NOSCAR-awarded Company.

NOSCAR is National Occupational Safety Companies Award Recognition: the highest NOSA accolade


The MD further stated that, with this Award, Tanga Cement retains its place in the ‘Distinguished Class’

of NOSA-awarded companies in systems implementation.

“This is following an international competition held recently involving all first-place winners from different

NOSA Zones of operations worldwide. We were the first winner in the Northern Region (D3 Sector

Industrial Category),” he revealed.

The NOSA Award Programme involves small and large companies based within and outside South Africa.

However, Tanga Cement PLC has been participating in the Programme, actively implementing it for the

past three consecutive years – and winning the Award in its fourth year of implementation.

“In 2019/20, Tanga Cement PLC emerged the second winner in the Northern Region (D3 Sector Industrial

Category). In 2020/21, our company emerged the overall winner – and entered the international

competition, the National Occupational Safety Companies Award Recognition (NOSCAR),” he said.

These prestigious Awards qualify Tanga Cement Public Limited Company into the distinguished class of

exemplary NOSA practitioners. In effect, this means that the company is doing exceptionally well in the

performance stakes, including specially managing hazards and risks at the workplace.

The main objective for the NOSA Awards Programme is to assist clients in limiting hazards in the

workplace, while at the same time ensuring that, as the client, they are willing, able and ready/prepared

to effectively prevent and/or tackle any and all emergency situations that may arise at the workplace.


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