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THE Bank of Tanzania (BoT) has said their strategy to stabilize the shilling against major currencies paid off.

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MOBILE phone service providers Vodacom and Tigo have started implementing strategies to provide mobile services to people living in rural areas to help Tanzanians to benefit from mobile telecommunication services.

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WORLD Telecom Labs (WTL) and AMOTEL have announced that the network they have built in rural Tanzania is now live with residents in three remote villages able to make calls and use the internet for the first time.

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IN a move to facilitate business opportunities arising from the growing trade relationship between China and Tanzania, NIC Bank Tanzania (NICBT) has set up a China desk to ensure smooth transactions.

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YETU Microfinance is now a fully fledged microfinance bank after receiving operational licence from the regulator - Bank of Tanzania. Its Managing Director, Altemius Millinga told the Daily News yesterday that they were now focused to expand their business starting with three branches - - two in Dar es Salaam and one in Morogoro.

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DAIRY farmers in Njombe Region have been challenged to improve and modernise their products so as to be able compete in national and international market.

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ACACIA Mining, listed on Dar es Salaam Stock Exchange, share has appreciated by 75 per cent to reach all time high since United Kingdom voted to exit from European Union. The share, according to DSE data, climbed from 10,460/- just a day before the Brexit voting to 18,310/- of Monday.

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TANZANIA has a strong and effective monetary policy stance in controlling and managing liquidity in the circulation than most of the low income countries.

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NMB Managing Director, Ms Ineke Bussemaker

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THE National Microfinance Bank (NMB) has once again won Euromoney award as the Best Bank in Tanzania given by the global financial markets magazine - Euromoney.

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TANZANIA Private Sector Foundation (TPSF) Executive Director, Mr Godfrey Simbeye, speaks to reporters in Dar es Salaam yesterday about small entrepreneurs training which will be offered by TPSF. Right is the Project Manager, Mr Celestine Mkama and Entrepreneurs Financial Development Specialist, Mr Haji Dachi. (Photos by Staff Photographer)

Business

TANZANIA Private Sector Foundation (TPSF) has embarked into a training campaign for small scale entrepreneurs using simple and affordable channels to enrich their businesses.

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FIVE equities dominated the market share at the Dar es Salaam Stock Exchange (DSE) although turnover weakened by 32 per cent to close at 4.03bn/- compared to 5.91bn/- of the previous week.

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THE International Monetary Fund (IMF) has called on the government to boost revenue collection and improve efficiency in expenditure to create fiscal space for higher infrastructure investment which has expanded deficit.

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ACACIA Mining profit in the first half of 2016 have soared as gold prices and sales surged while operating costs fell.

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Tanzania Private Sector Foundation (TPSF), Mr Godfrey Simbeye

Business

TANZANIA and China's business communities have been advised to capitalise on the current growing trade partnership between the two countries to expand their businesses and maximise profit.

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PAN-African online and mobile payments solution provider, 3G Direct Pay Limited, has unveiled a new mobile application that enables merchants to process their card and make payments on their mobile phones.

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THE Evangelical Lutheran Church of Tanzania (ELCT) Head, Dr Fredrick Shoo, has said there is much to be desired in the country’s resources and what is used to get economic emancipation.

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VODACOM has unveiled its brand new M-Pesa platform (second generation platform) which, among other things, will make the mobile money service faster, more robust and with less downtime while offering customers more services via the advanced platform.

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NATIONAL Housing Corporation (NHC) and Bancabc have handed over to the Central Bank ten residential houses that will be used by staff of its newly established branch in Mtwara Region.

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THE government plans to establish a commercial hub and dry port in Dodoma for anticipated rise in commercial activities after completion of upgrading of the airport in the designated capital.

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DECLINING foreign exchange reserves should not be a cause for alarm as it is still within the appropriate levels which will be boosted further by rising exports from the manufacturing sector, the Central Bank Governor has said.

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THE government has guaranteed local and foreign investors full support and promised to continue improving the business environment.

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DRY money in the circulation has continued to haunt the trading of the debt instrument making the 15 years treasury bonds to end up under subscribed. Despite the tight monetary squeeze, the Bank of Tanzania (BoT) said the money currently in circulation is enough to make the economy lubricant.

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TCCIA Investment Company is expecting to list its share on Dar es Salaam Stock Exchange (DSE) in the next three months after shareholders endorsed the move.

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CASH squeeze in circulation should be nothing to worry much about as it is part of measures undertaken to control the economy, a senior Central Bank official has said.

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ABOUT 14 Villages around Bulyanhulu Gold Mine site in Msalala and Nyang’wale Districts of Geita and Shinyanga regions will benefit from entrepreneurship skills project aimed at engaging youth groups in self-help economic activities instead of relying on small-scale mining only.

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TIGO Tanzania has donated 350 desks worth 58mil/- to 12 primary schools in Tabora, Urambo and Nzega to support government’s effort to ease shortage of desks for primary school in the country.

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NATIONAL Microfinance Bank (NMB) shares rallied by 5.2 per cent after listing its three-year 41.4bn/- bond on the Dar es Salaam Stock Exchange (DSE) yesterday.

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LOCAL Liquefied Petroleum Gas (LPG) distributors have expressed satisfaction with the government move to adopt the bulk procurement system in importing LPG. Oryx Energies’ Retail Sales Manager (Inland), Mr Mohamed Mohamed told the ‘Daily News ‘that local distributors were happy with the decision and that they expect changes in the business starting September, this year.

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TANZANIA leather industry faces bleak future as global commodity price slump lowered demand for value added leather products from major importers.

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MICROFINANCE institutions are failing to extend financial services to cover more areas due to their internal weaknesses, an industry player has suggested.

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TANZANIA Forest Industries Federation (SHIVIMITA) has hailed the government for suspending issuing of timber harvesting permits as that will pave the way for forest plantation review.

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TREASURY Registrar (TR) Lawrence Mafuru has said Twiga Bancorp customers’ savings were safe and the bank was steady to offer its services.

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DAR ES SALAAM Stock Exchange (DSE) has shown signs of recovery from bearish trend gripped the market since the beginning of this year. Stockbrokers are predicting the bourse turnaround after high demand noticed on industry and allied sectors fuelled by foreign investors.

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