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End in sight for land conflicts in Morogoro

Graduates urged to aim higher

Long term bond ends year on poor show

TIB recorded modest profit last year despite global meltdown

Precision Air shares appreciate at the bourse after lax IPO

DSE trading to be overshadowed by money

Rufiji farmers allowed to continue farming but no compensation yet

IATA disappointed with EU Court decision on Emissions

Shilling gaining momentum thanks to BoT

Industrial expert foresees declining manufacturing sector growth this year

US envoy hopes more investors to come

World Bank denies role in hiked mortgage financing

Govt committed to improve air travel - Minister Nundu says

Establishment of Agro-bank, review of tax regime necessary in 2012

Construction sector survives economic slump with sustained growth

Mkulo’s confirmation of extra fee on business licensing sends fear

WWF plans in Rufiji delta suffer setback

Despite high yields, investors shun 12 months T-bills

Mining sector contribution 'too little'

Varsity to open centre for business studies

Headlines

End in sight for land conflicts in Morogoro

RUFIJI Basin Development Authority (RUBADA) is planning to introduce awareness campaigns to farmers in Morogoro Region to help livestock keepers learn on the best practices. This was said by the RUBADA Director General Mr Aloyce Masanja when talking to journalists recently, after a seminar

Author: From a Correspondent in Morogoro, Uploaded on: 29th December 2011 @ 12:04, Total Comments: 0, Total people who read this story: 498

Graduates urged to aim higher

GRADUATES from higher learning institutions have been challenged to grab opportunities offered by financial schemes to become job creators instead of blaming the government for not employing them. This was said in Dar es Salaam on Thursday by the Permanent Secretary in the Ministry of

Author: By SEBASTIAN MRINDOKO, Uploaded on: 29th December 2011 @ 11:03, Total Comments: 0, Total people who read this story: 499

Long term bond ends year on poor show

THE long term maturities bond closed the year with poor performances with the Bank of Tanzania (BoT) fetching less than 1bn/- in a ten-year instrument. According to BoT Treasury Bonds Auction conducted on Wednesday, the ten-year bond saw an increase in rates with bids pegged at 16.6 per cent

Author: By DAILY NEWS Reporter, Uploaded on: 29th December 2011 @ 11:00, Total Comments: 0, Total people who read this story: 475

TIB recorded modest profit last year despite global meltdown

A modest actual profit of 3.6bn/- was made by Tanzania Investment Bank last year compared to 2.9bn/- in 2009 despite the global recession that necessitated government bail out of struggling private companies. TIB Managing Director, Peter Noni said in the 2010 annual report that the modest profit

Author: By FINNIGAN WA SIMBEYE, Uploaded on: 28th December 2011 @ 12:44, Total Comments: 0, Total people who read this story: 527

Precision Air shares appreciate at the bourse after lax IPO

PRECISION Air Services Plc (PAS) had a good start at the equity market recording a price increase of 42.11 per cent to 495/- from 475/- offered at the Initial Public Offer (IPO). According to a weekly market commentary by Tanzania Securities Limited (TSL), the PAS counter last week traded 6,000

Author: By SEBASTIAN MRINDOKO, Uploaded on: 28th December 2011 @ 12:44, Total Comments: 0, Total people who read this story: 566

DSE trading to be overshadowed by money

HIGH yields offered in the money market instruments in comparison to stocks are expected to impact heavily on the level of activity at Dar es Salaam Stock Exchange (DSE) in the coming weeks. For example, investors in the Treasury bills auctions last week fetched a high rate of return of about

Author: By SEBASTIAN MRINDOKO, Uploaded on: 27th December 2011 @ 13:00, Total Comments: 0, Total people who read this story: 543

Rufiji farmers allowed to continue farming but no compensation yet

FRUSTRATED Rufiji Delta paddy rice farmers whose huts and coconut trees were destroyed by Mangrove Management Project officers last October in a bid to evict them from a forest reserve can continue farming but the issue of getting compensation is unsettled. “What I know is that they have been

Author: By FINNIGAN WA SIMBEYE, Uploaded on: 27th December 2011 @ 13:00, Total Comments: 0, Total people who read this story: 501

IATA disappointed with EU Court decision on Emissions

HE International Air Transport Association (IATA) expressed disappointment at last week’s decision by the Court of Justice of the European Union (CJEU) which upheld European Union (EU) plans to include international aviation in the EU emissions trading scheme (ETS) from 2012. “The CJEU decision

Author: By DAILY NEWS Reporter, Uploaded on: 27th December 2011 @ 12:13, Total Comments: 0, Total people who read this story: 447

Shilling gaining momentum thanks to BoT

THE shilling closed the week with further improvement against the US dollar and other major currencies as Bank of Tanzania (BoT) continued with a tight liquidity policy. According to daily commentary by Standard Chartered Bank, the market closed on Friday at 1,585/- and 1,595/- on the back of

Author: By SEBASTIAN MRINDOKO, Uploaded on: 27th December 2011 @ 12:00, Total Comments: 0, Total people who read this story: 714

Industrial expert foresees declining manufacturing sector growth this year

INDUSTRIAL sector contribution to the Gross Domestic Product (GDP) has been projected to take a further decline form 8.6 recorded in the first quarter of 2011 due to economic hardships like power crisis, shilling depreciation and soaring inflation. This was said over the weekend by the

Author: By SEBASTIAN MRINDOKO, Uploaded on: 26th December 2011 @ 12:15, Total Comments: 0, Total people who read this story: 588

US envoy hopes more investors to come

MORE American private investment will come to Tanzania in 2012 as Washington seeks to consolidate its bilateral trade ties with Dar es Salaam. Describing the two countries relations as having strengthened this year, United States Ambassador to Tanzania, Alfonso Lenhardt said Symbion Power LLC

Author: By DAILY NEWS Reporter, Uploaded on: 26th December 2011 @ 12:00, Total Comments: 0, Total people who read this story: 702

World Bank denies role in hiked mortgage financing

HIKED interest rates in the country’s mortgage financing which have raised complaints among low income Tanzanians have nothing to do with World Bank conditions prior to lending the government 40 million US dollars (approx 60bn/-) last year to support establishment of a housing finance scheme.

Author: By FINNIGAN WA SIMBEYE, Uploaded on: 26th December 2011 @ 12:00, Total Comments: 0, Total people who read this story: 580

Govt committed to improve air travel - Minister Nundu says

WELL established air services have been cited as a necessary milestone in opening up and boosting economic growth, enhancing competition, promoting trade, tourism and Foreign Direct Investment (FDI). To achieve this, the government has reiterated its commitment to provide favourable

Author: By SEBASTIAN MRINDOKO, Uploaded on: 26th December 2011 @ 11:30, Total Comments: 0, Total people who read this story: 538

Establishment of Agro-bank, review of tax regime necessary in 2012

STAKEHOLDERS in the agriculture sector want the government to make good of its pledge to establish Tanzania Agriculture Development Bank with significant and review the hostile tax and regulatory regime if the sector is to achieve rapid growth next year. Agriculture Council of Tanzania Chairman,

Author: By FINNIGAN WA SIMBEYE, Uploaded on: 26th December 2011 @ 11:15, Total Comments: 0, Total people who read this story: 527

Construction sector survives economic slump with sustained growth

DESPITE economic hardships experienced in the yearlong, construction industry has continued to be one of the most exciting sectors contributing immensely in the economic growth. The industry is currently experiencing a period of growth primarily driven by the recent developments in the road

Author: By SEBASTIAN MRINDOKO, Uploaded on: 26th December 2011 @ 11:15, Total Comments: 0, Total people who read this story: 550

Mkulo’s confirmation of extra fee on business licensing sends fear

CONFIRMATION of reports that effective next month businesses will pay between 10,000/- and 30,000/- as licensing fees to local authorities has sent shivers of fear and panic among the country’s petty traders who will be hit hardest. Interviewed petty traders selling fruits, vegetables, cheap

Author: By FINNIGAN WA SIMBEYE, Uploaded on: 26th December 2011 @ 11:00, Total Comments: 0, Total people who read this story: 601

WWF plans in Rufiji delta suffer setback

A PLAN to start baseline survey in Rufiji delta by World Wildlife Fund for Nature which wants to help villagers get paid through REDD, has suffered a setback from the torching of farm huts and cutting down of coconut trees by Mangrove Management Project officials last October. Reduced Emission

Author: By FINNIGAN WA SIMBEYE, Uploaded on: 25th December 2011 @ 12:00, Total Comments: 0, Total people who read this story: 571

Despite high yields, investors shun 12 months T-bills

DESPITE attractive package of high interest rates, the one year treasury bills were under subscribed with government accepting bids worth only 13.5bn/- out of 70.6bn/- of the total amount tendered. In a public notice issued by Bank of Tanzania (BoT) ahead of the auction day, the government

Author: By SEBASTIAN MRINDOKO, Uploaded on: 25th December 2011 @ 11:00, Total Comments: 0, Total people who read this story: 461

Mining sector contribution 'too little'

THE economy will grow at a tremendous speed and the currency stabilize when the mining companies start paying their duties properly. The Chairman of Tanzania Extractive Industry Transparency and Initiative Committee (TEITI) Judge Paul Boman has revealed. He was presenting a report on

Author: From NESTORY NGWEGA in Tanga, Uploaded on: 22nd December 2011 @ 14:02, Total Comments: 0, Total people who read this story: 705

Varsity to open centre for business studies

MZUMBE University would soon establish a development centre with a view of facilitating teaching in business and management through case method. This was announced at the end of a workshop on management case development, writing and teaching that was held at the Dar es Salaam Campus College of

Author: By DAILY NEWS Reporter, Uploaded on: 22nd December 2011 @ 12:00, Total Comments: 0, Total people who read this story: 641

NSSF hailed for investing in Kagera Sugar

THE Minister for Labour and Employment, Gaudensia Kabaka, has commended the National Social Security Fund (NSSF) for its decision to invest 12bn/- in Kagera Sugar Limited (KSL), creating employment to over 3,500 people. The minister made the remarks on Wednesday at the KSL during a one-day

Author: From MEDDY MULISA in Bukoba, Uploaded on: 22nd December 2011 @ 11:06, Total Comments: 0, Total people who read this story: 525

Woolworths spreads wings to Kampala with new outlet

SOUTH African giant food and fashion retailer, Woolworths International opened the largest shop on the continent outside the home country in the Ugandan capital, Kampala last Tuesday. In a statement, the company’s local partner, Infotech Investment Group Chairman, Ali Mufuruki said the shop

Author: By DAILY NEWS Reporter, Uploaded on: 22nd December 2011 @ 11:05, Total Comments: 0, Total people who read this story: 601

Exim unveils mortgage finance product

EXIM Bank Tanzania has launched a home loan product that will help its customers get affordable and convenient housing finance solutions. Speaking in Dar es Salaam on Wednesday during the launch of the product, the bank’s Public Relations and Marketing Manager, Linda Chiza, said up to 36bn/-

Author: By DAILY NEWS Reporter, Uploaded on: 21st December 2011 @ 13:09, Total Comments: 0, Total people who read this story: 684

Precision Air has big plans for growth

PRECISION Air Services (PAS) has reaffirmed its commitment to enhance the performance and growth of the company to ensure realization of hefty returns on the investors’ money. The remarks were made in Dar es Salaam on Wednesday by the PAS Board Chairman and Founder, Mr Michael Shirima, during

Author: By SEBASTIAN MRINDOKO, Uploaded on: 21st December 2011 @ 13:08, Total Comments: 0, Total people who read this story: 738

Exim bank sees cash transfer business making good deal

CASH transfers through Exim Bank Tanzania and MoneyGram has grown tremendously in the past few years with business clocking 400m/- per month. A statement released by Exim Bank Tanzania Public Relations and Marketing Manager Linda Chiza on Tuesday said, the big strides have been achieved

Author: By DAILY NEWS Reporter, Uploaded on: 20th December 2011 @ 13:17, Total Comments: 0, Total people who read this story: 691

T-Bills auction likely to reap massively

THE Treasury Bills auction to be held today is likely to record high rates for investors as the government is expected to accept borrowing in short term than medium and long term instruments. In a public notice issued by the Bank of Tanzania (BoT) on Monday, the government intends to raise

Author: By SEBASTIAN MRINDOKO, Uploaded on: 20th December 2011 @ 12:07, Total Comments: 0, Total people who read this story: 657

Tigo upgrades network

TIGO has announced that it is expanding its 2G and 3G networks by upgrading existing sites and adding new ones across the country. A statement issued on Tuesday said the upgrade will improve the network’s capacity, responsiveness and quality and will deliver better services to customers.

Author: By DAILY NEWS Reporter, Uploaded on: 20th December 2011 @ 12:00, Total Comments: 0, Total people who read this story: 639

Precision Air shares face first test at Dar es Salaam bourse

DEMAND and supply are likely to be major determinants of the value of Precision Air Services (PAS) shares scheduled for listing today at the Dar es Salaam Stock Exchange (DSE). The sponsoring broker and Executive Officer of the Orbit Securities Limited, Mr Lauren Malauri said in an interview

Author: By SEBASTIAN MRINDOKO, Uploaded on: 20th December 2011 @ 11:54, Total Comments: 0, Total people who read this story: 639

KIA’s growth impresses TAA

SINCE government’s repossession of Kilimanjaro International Airport its performance has improved and will become world class when a 57.5bn/- grant from Kingdom of Netherlands is spent on renovation and expansion. Tanzania Airports Authority (TAA) Acting Director General, Engineer Suleiman Said

Author: By FINNIGAN WA SIMBEYE, Uploaded on: 20th December 2011 @ 11:42, Total Comments: 0, Total people who read this story: 547

KIA upgrading set to boost tourism promo initiatives

AN ambitious project to expand and modernise Kilimanjaro International Airport by 2015 that will allow more world class airlines to ply to and fro with tourist arrivals will take off mid next January thanks to a grant from Netherlands government. The 57.5bn/- will also assist to almost double

Author: By FINNIGAN WA SIMBEYE, Uploaded on: 19th December 2011 @ 11:30, Total Comments: 0, Total people who read this story: 598

NHC tenants disappointed on demand to buy houses

By FINNIGAN WA SIMBEYE TEMPERS flared and emotions were high as hundreds of National Housing Corporation (NHC) tenants vented anger against management and board over allegations of backpedalling on President Jakaya Kikwete’s directive to sell to occupants a number of residential housing units.

Author: By BUSINESS STANDARD Reporter, Uploaded on: 19th December 2011 @ 11:30, Total Comments: 0, Total people who read this story: 646

DSE sees trade drop as year ends

AS the year draws to an end, participation of local and foreign investors at the Dar es Salaam Stock Exchange (DSE) has dwindled resulting into low level of activity coupled with decrease in turnover and volume of shares traded. “Statistics show that retail investors have not been participating

Author: By SEBASTIAN MRINDOKO, Uploaded on: 19th December 2011 @ 11:00, Total Comments: 0, Total people who read this story: 507

Tenants call for real estate regulator

THERE is urgent need for the government to establish a real estate and building materials regulator to cushion tenants and house buyers against unilateral price hikes by developers such as National Housing Corporation. Hundreds of NHC tenants protesting hiked house rents, housing unit prices

Author: By FINNIGAN WA SIMBEYE, Uploaded on: 19th December 2011 @ 11:00, Total Comments: 0, Total people who read this story: 558

Expert: The year ahead proves tough

AT the beginning of this year, inflation was relatively low at single-digit as the shilling too remained substantially stable. By midyear, inflation had shot to double-digit and the shilling depreciated to the lowest level ever in Tanzania’s history. Staff Writer Abduel Elinaza spoke to Mzumbe

Author: By Staff Writer ABDUEL ELINAZA, Uploaded on: 19th December 2011 @ 11:00, Total Comments: 0, Total people who read this story: 480

Rising inflation burns pockets

JUST a week before year end celebrations, city residents will have to dig deeper into their pockets to buy food and other commodities due to soaring prices caused by rising inflation. A 'Daily News' random survey conducted over the weekend in different markets in the city has established that

Author: By SEBASTIAN MRINDOKO, Uploaded on: 19th December 2011 @ 11:00, Total Comments: 0, Total people who read this story: 490

ICT vital in war against poverty

THE application of Information Communication Technology (ICT) in gathering, analysing and disseminating market information to businesses and agricultural producers has been cited as a significant strategy in poverty reduction. The Deputy Permanent Secretary in the Ministry of Industry, Trade

Author: By SEBASTIAN MRINDOKO, Uploaded on: 19th December 2011 @ 11:00, Total Comments: 0, Total people who read this story: 451

Firm supports education in Morogoro, Tabora

ALLIANCE One had donated educational and construction materials to five schools in Morogoro and Tabora regions worth over 20m/-. Alliance One’s Corporate Affairs Manager Hamis Liana said that the contribution was part of the company’s corporate social responsibilities. “As the nation has

Author: From a Correspondent in Morogoro, Uploaded on: 18th December 2011 @ 13:00, Total Comments: 0, Total people who read this story: 523

Arusha entrepreneurs form business forum

WHAT started as a simple forum for Arusha traders to share light moments at Kibo Palace Hotel is now a formal commitment where multi-million-dollar deals are struck. A Corporate Networking event, a brainchild of Kibo Palace Hotel, saw deals worth over 500,000US dollar (802m/-) sealed in less

Author: From a Correspondent in Arusha, Uploaded on: 18th December 2011 @ 13:00, Total Comments: 0, Total people who read this story: 667

DSE’s impressive performance lures investors

THE rise in the level of investors’ confidence demonstrated by impressive performances of the Dar es Salaam Stock Exchange (DSE) has attracted massive investments which in turn led to increased market capitalization. This was said on Sunday in Dar es Salaam by the DSE Chief Executive Officer,

Author: By SEBASTIAN MRINDOKO, Uploaded on: 18th December 2011 @ 13:00, Total Comments: 0, Total people who read this story: 589

BoT calls off seven-year bond bids

THE Bank of Tanzania (BoT) has rejected all bids for seven-year bonds, after failing to agree on investors tendering amount. This is the second time the central bank has cancelled the same bond in a span of four months. The bank had planned to raise 20bn/- using a 10.08 per cent coupon rate

Author: By ABDUEL ELINAZA, Uploaded on: 18th December 2011 @ 11:35, Total Comments: 0, Total people who read this story: 548

Accurate timely market information necessary to farmers, SMEs

ACCESS to timely and accurate market information has been cited as a significant strategy for small and medium size businesses, as well as agricultural producers when expanding their trade activities in order to make economically informed decisions. This was said yesterday in Dar es Salaam by

Author: By SEBASTIAN MRINDOKO, Uploaded on: 15th December 2011 @ 13:22, Total Comments: 0, Total people who read this story: 716

NBC eyes better profit margin this year

NATIONAL Bank of Commerce (NBC) on Thursday launched its customers’ contact centre saying its profit this year is expected to be far better than the preceding period. The bank attributed the expected good profit to prudent lending, cutting down bad loans and efforts to collect outstanding

Author: By ABDUEL ELINAZA, Uploaded on: 15th December 2011 @ 13:22, Total Comments: 0, Total people who read this story: 642

Postal Bank in promotional drive

THE Tanzania Postal Bank (TPB) has managed to raise 8.48bn/- deposits from its customers for the past six months. The bank's Chief Executive Officer, Mr Sabasaba Moshingi, said the deposits were raised during a promotional drive dubbed as "Weka Akiba Ushinde." Mr Moshingi made the remarks on

Author: By DAILY NEWS Reporter, Uploaded on: 15th December 2011 @ 13:22, Total Comments: 0, Total people who read this story: 587

Private sector seeking urgent audience with ministry of trade over bad law

A NEW business licensing law that will allegedly become effective on January 1, 2012 is threatening existence of thousands of small and medium enterprises (SMEs) prompting Tanzania Private Sector Foundation to seek audience with Ministry of Trade and Industry senior officials. TPSF

Author: By FINNIGAN WA SIMBEYE, Uploaded on: 15th December 2011 @ 11:18, Total Comments: 0, Total people who read this story: 833

Central bank proud of NBAA awards

THE awarding of the Bank of Tanzania (BoT)’s financial statement for 2009/2010 as the overall winner in best presented financial statements by the National Board of Accountants and Auditors (NBAA) last week has proved that as a regulator of commercial banks it can lead by example. This was said

Author: By DAILY NEWS Reporter, Uploaded on: 14th December 2011 @ 12:16, Total Comments: 0, Total people who read this story: 732

New law seen choking businesses

THE new business licensing law expected to take effect on January 1, 2012 threatens the existence of thousands of small and medium enterprises (SMEs), activists claim. The Tanzania Private Sector Foundation (TPSF) Chairperson, Ms Esther Mkwizu told the 'Daily News' on Wednesday that she has

Author: By FINNIGAN WA SIMBEYE, Uploaded on: 14th December 2011 @ 12:00, Total Comments: 0, Total people who read this story: 793

Quality products only way to succeed, says Nagu

ENTREPRENEURS have been urged to produce high quality goods that can compete in the international market, which is very difficult to penetrate. This was said in Dar es Salaam by the Minister of State, Prime Minister’s Office (Investment and Empowerment), Dr Mary Nagu on Tuesday during a

Author: By ASHERY MKAMA, Uploaded on: 14th December 2011 @ 12:00, Total Comments: 0, Total people who read this story: 730

Women to hone skills

ABOUT 300 women entrepreneurs are meeting this weekend in Dar es Salaam to exchange views and experience running small industries as well as encourage each other to achieve their business dreams. The Chief Executive Officer (CEO) of Insight Consultant, which has organised the event, Ms Marion

Author: By PIUS RUGONZIBWA, Uploaded on: 14th December 2011 @ 11:25, Total Comments: 0, Total people who read this story: 626

Shilling faces litmus test on Thursday

THE Bank of Tanzania (BoT) is on Thursday expected to issue the new official inflation rate, which observers felt would be a major indicator of the success of intervention measures to save the shilling from freefall of the last two months. Monthly inflation hit a decade high of about 18 per

Author: By ABDUEL ELINAZA, Uploaded on: 14th December 2011 @ 11:00, Total Comments: 1, Total people who read this story: 1043

Mobile phones chew 100bn/- monthly

MOBILE phone subscribers are spending more than 100bn/- a month, where voice expenditure commands a bigger share of the market compared to short text messaging. The Tanzania Communication Regulatory Authority (TCRA) fourth quarter report, for April-June, shows that subscribers reached

Author: By DAILY NEWS Reporter, Uploaded on: 14th December 2011 @ 11:00, Total Comments: 0, Total people who read this story: 773

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