Tanzania - The Citizen - Business News

MARKET DATA REVIEW: Dar bourse’s weekly turnover increases by 63 per cent

Details >The Dar es Salaam Stock Exchange (DSE) continued to gain last week, with a weekly turnover increase of 63 per cent....

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Uganda’s policy to manage oil wealth nears completion

Details >The World Bank and Ugandan government are in final stages of producing a new working document (Country Economic Memorandum) to guide planners and policy makers on how to manage oil and gas revenues in a way that benefits society as a whole....

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No EAC investor bought securities: bank

Details >No investor from the East African countries has started buying government securities since the regulator lifted curbs on them in May, the Bank of Tanzania (BoT) announced yesterday....

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Building accidents blamed on blocks

Details Mushrooming of sub-standard cement blocks have been fueling construction accidents in the city, especially several incidents of falling towers....

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Lions International injects Sh20bn for vaccination campaign

Details The Lions Clubs International (LCI) has injected a total of $12 million (about Sh20 billion) in support of the ongoing measles-rubella vaccination campaign, the international organization has announced....

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Airtel Tanzania subscribers continue to enjoy 4 pc offer on Luku purchases

Details Airtel customers across the country have continued to enjoy an offer of 4 per cent upon the purchase of Luku through Airtel Money Service....

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‘Rapid bus’ infrastructure vandalised

Details The rising vandalism on the newly installed materials for the Bus Rapid Transport (BRT) in the city has prompted the government to look for the lasting solution by involving public information officers....

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Precision Air, Jovago in new partnership

Details Precision Air (PW) and Africa’s hotel booking website -- Jovago.com – have struck a partnership deal that enables the airline’s passengers to pick hotels of their choice right from its (PW’s) website....

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Another recession ‘most likely’

Details The global economy faces its biggest test of confidence since the European sovereign debt crisis as investors fear it’s running out of engines. Japan and the euro area are throwing up fresh signs of weakness by the day and emerging markets such as China are dragging instead of driving growth....

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Why we won’t fly four routes: ATCL

Details >Air Tanzania yesterday announced suspension of flights to four domestic destinations for six days as its aircraft goes for scheduled maintenance....

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Kenyan paint manufacturer expands business to Tanzania

Details >Kenyan paint manufacturer, Crown Paints Group has extended business to Tanzania with plans to establish a giant factory in Dar es Salaam that will feed both local and export markets....

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LAPF aims at having Sh1tr value next year

Details The Local Authorities Pensions Fund (LAPF) is targeting to have a value of Sh1 trillion in the next one year....

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Mobile initiative seeks to boost productivity for farmers

Details The Connected Farmer Alliance (CFA) — a public-private partnership for Vodafone Group, the US Agency for International Development (Usaid) and TechnoServe — has announced its first commercial agreement on the use of mobile technology to increase the productivity of low-income farmers in Tanzania....

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Firms can buy Internet services from us: TTCL

Details Two companies have partnered to provide Internet services to their providers in Tanzania....

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Interbank rates double as illiquidity bites in market

Details >Interbank rates, the lending rates at which commercial banks borrow from each other, more than doubled in two weeks as bankers cite the shortage of cash in circulation....

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Anti-tobacco meet in Moscow aims to bolster taxes

Details >A major anti-tobacco conference opened in Moscow on Monday aimed at agreeing higher taxes on cigarettes, a move being fiercely opposed by the tobacco industry....

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Investor expands land area in Moro

Details >Obtala Resources continues to expand its agricultural operations in Morogoro - revealing it had taken a lease on a chunk of agricultural land there, aiming to plant orchards that could save it $1mln a year....

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National airline set to return after Air Uganda exit

Details >The government is working on a plan to revive the national airline following Air Uganda’s board decision not to return to the skies, according to the Director of Transport at the Ministry of Works and Transport, Mr Godfrey O. Wandera....

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Kiwira needs over Sh736 billion just for take-off

Details >The State Mining Corporation (Stamico) is in dire need of at least $460 million (Sh736 billion) to accomplish the task of commencing coal production and electricity generation at Kiwira Coal Mine....

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New bank eyes rural customers

Details It was all cheers as VisionFund Tanzania, a new banking facility, was officially inaugurated in Arusha the other week with prospects that it would boost small businesses and reach out to rural farmers....

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Plea for funds to tackle harmful fishing

Details Insufficient funds and unreliable transport have been hampering a fight against illegal fishing in Lake Victoria, the Fisheries Department in Ukerewe District, Mwanza Region, has said....

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Farmers in Mufindi reject Minjingu fertiliser

Details Farmers in Mufindi District, Iringa Region have refused to use Minjingu fertiliser claiming that it was not compatible with the type of soil in their district....

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How to buy house on registered land

Details Excited to buy a new home? It is a good feeling to have a brand new place that you can call home and you happen to be the legal owner. You want to build a house, which has got your taste and style and a place, where your family can enjoy living and be secure!...

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Too much salt use raises health risks, says expert

Details Salt is an essential element needed in a diet. In its moderation, salt is very important, but can adversely harm one’s health if not taken appropriately....

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Govt asked to identify Tanesco’s ‘no-go zones’

Details >One of the four firms that won Obama’s Power Africa award on Wednesday has urged the government to clearly identify villages where the country’s power utility cannot go so that private suppliers strategise the areas....

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Government to revive postal policy

Details >The government is planning to revive the National Postal Policy to catch up with changing environment and competition posed by technological advancement....

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Annual inflation decreases to 6.6pc

Details Tanzania annual inflation rate slowed to 6.6 per cent from 6.7 per cent recorded in August as some food and non-food commodities recorded price decrease in the market....

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We’ll close two tobacco factories in Europe: Firm

Details  Japan Tobacco said it may close two European factories and cut production by a third in a move that could see about 1,100 layoffs, citing a “challenging operating environment”....

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Sh660m won for lighting up rural Tanzania

Details Tanzania’s rural electrification efforts received a major boost yesterday after four companies won a total of $400,000 (Sh660 million) to initiate off-grid power solutions....

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Bank gives Sh25 billion mortgage loans in TZ

Details >Sh25 billion has been offered to Tanzanians as mortgage loans by Commercial Bank of Africa (CBA) since 2007....

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New airline to start operations late this year

Details >SAX-Tanzania, the new airline established in Tanzania, is making final preparations to commence flights late this year, subject to receiving regulatory approvals from the Tanzania Civil Aviation Authority....

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We’ll strike Sasatel off register, warns TCRA

Details >The Tanzania Communications Regulatory Authority (TCRA) is planning to revoke Dovetel (T) Limited’s licences as the mobile opertator has failed to comply with the rules of the game....

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Plan targets small-scale businesses

Details >At least 100,000 small-scale businesspeople are expected to benefit from an initiative dubbed ‘Banking on Change’ by next year....

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Thousands of companies risk deregistration

Details >The  Business and Registration Licensing Agency (Brela) has issued a 90-day ultimatum for the companies to file their annual reports or else be deregistered....

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Competition is for losers, says book

Details >What valuable company is nobody building? This question is harder than it looks, because your company could create a lot of value without becoming very valuable itself. Creating value isn’t enough—you also need to capture some of the value you create....

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DSE records historic Sh175bn turnover in 3 months: CEO

Details >The Dar es Salaam Stock Exchange (DSE) recorded a historic performance during the third quarter  of this year, registering a Sh175 billion turnover....

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Ngaka coal to be used for cooking

Details >The Ngaka coal found in Mbinga District in Ruvuma Region will be soon sold for domestic use....

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TZ begins first production of bitumen emulsions

Details >The first bituminous emulsion production has been commissioned in the country providing more opportunity for constructing tarmac roads at low cost....

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TCC profit drops 20pc on higher excise tax

Details >Increased excise tax on tobacco products is hitting hard on the profitability of Tanzania Cigarette Company which recorded 20 per cent drop in the first half of 2014. TCC which is listed on the Dar es Salaam Stock Exchange recorded Sh35.3 billion as profit after tax for the six months ending June 30, 2014 compared to Sh44.3 billion it recorded in the same period last year, according to the firm’s financial statement....

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Swala completes seismic survey to define drilling targets

Details >Swala Oil and Gas (Tanzania) has completed its two dimension (2D) seismic survey that will identify potential drilling locations over Moshi Basin....

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Puzzle over Zantel sale

Details >The Board chairman of the Zanzibar Telecom (Zantel), Mr Essa Al Haddad, now says the mobile operator is not looking to sell its business....

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3 African nations sign power deal interconnection effected

Details Tanzania, Kenya and Zambia have formalised the much-waited East African Power Pool (EAPP)....

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Relief as oil prices decrease

Details Oil prices have decreased. The fall follows changes in the world market.It has been difficult for petrol users in the last three months as its price escalated....

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Pact inked on funds for farm centre

Details In a move to ensure that all funds channelled to the Southern Agricultural Growth Corridor of Tanzania (Sagcot) Centre are properly managed, the ministry of Agriculture, Food Security and Cooperatives yesterday signed a deal with six development partners....

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Next-generation Airbus A350 plane gets EU green light

Details EU authorities gave the green light yesterday for Airbus’s new long-haul A350 plane to enter service, opening the way for delivery of the next-generation aircraft to first client Qatar Airways....

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Investment sought in agribusiness

Details The Alliance for a Green Revolution in Africa (Agra) yesterday launched an initiative that seeks to increase the flow of private sector investment into Tanzania’s agribusiness....

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Campaigners to honour Nyerere for conservation efforts

Details >Tanzania’s conservation stakeholders have rescheduled their annual march against elephant and rhino poaching to coincide with Nyerere Day on October 14....

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Dubai airline expands to Tanzania

Details >Dubai-based airline, flydubai, will start flying to Kilimanjaro International Airport (KIA) on October 17, 2014 as the air operator cements its position in East Africa....

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Tantrade: Unrecorded exports high

Details >Tanzania exports more goods than what authorities officially record, says a senior official....

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DHL in new partnership with small businesses

Details Local small businesspeople such as those owning electronics stores, travel agents or small grocery shops could now become agents for providing services of an international logistics company, DHL....

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