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Tanzania - The Citizen - Business News

Hotelier’s profits fall nearly 75pc

Details TPS Eastern Africa, the owner of Serena Hotels and Lodges, reported first half of the year after-tax profit down by almost three quarters on Thursday, saying the Kenyan tourist business had been hurt by a spate of militant attacks and travel warnings by several Western nations....

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Muhimbili gets new X-ray unit

Details Six Rotary clubs and Bank M have handed over a mobile X-ray unit worth $35,000 to Muhimbili hospital for the Oncology ward that was built by the Rotarians last year....

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Concern as bad loans soar

Details Despite the fact that assets of the banking sector increased, their contribution to the economy slightly diminished in the year ending March 2014 as non-performing loans (NPL) increased....

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Help people in need, urges transport firm

Details Uda has called on individuals and companies to support people in need....

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Twitter flies on surprisingly strong numbers

Details Twitter shares shot higher by some 30 per cent Tuesday after its quarterly report showed surprisingly strong revenue and user growth, despite a widening loss....

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Barclays profit soars to £1bn in six months

Details Britain’s scandal-hit Barclays bank posted a 68-percent jump in first-half net profits yesterday as it pushed ahead with a major restructuring that will shrink its investment bank division....

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Lindi to host 2014 Nane Nane show

Details > This year’s Nane Nane exhibition will take place in Lindi and Tigo Tanzania  and Tanzania Agricultural Society (Taso) will sponsor the event....

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Uchumi hopes to cross-list on Dar bourse August 15

Details >Supermarket chain Uchumi hopes to cross-list on the Dar es Salaam Stock next month....

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Zambia praises TZ firm

Details >A Tanzanian technology firm has been recognised for its excellent performance in Zambia.MacDonald’s Live-line Technology was praised in the 50th Zambia International Trade Fair in Ndola recently....

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Church bank to increase capital base

Details >Uchumi Commercial Bank (UCB) will increase its capital base to Sh7 billion by 2017 from Sh2.5 billion at present, the chairman of the board Wilson Ndesanjo disclosed at the weekend....

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Tanzania coached on international trade deals

Details >Capacity of Tanzania and other African countries to negotiate better in the international trade deals was enhanced through a week-long training as facilitated by the World Trade Organisation (WTO)....

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Government finally starts to repay Sh6.4tr it owes PSPF

Details >The government has started repaying part of the loan it owes the Public Service Pension Fund (PSPF), a senior official has said....

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UN: Over 2 billion people ‘poor’

Details More than 2.2 billion people are “poor or near-poor”, with financial crises, natural disasters, soaring food prices and violent conflicts threatening to exacerbate the problem, a United Nations report said on Thursday. ...

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Eurozone in rebound but France 'a laggard'

Details Markit's set of leading indicators - the purchasing managers’ index (PMI) - turned in a figure of 54, above the 50-point signalling growth or downturn, up from 52.8 in June....

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As shake-up rumours swell, StanChart says board 'united' behind Sands

Details “The board wants to be absolutely clear that it is united in its support of both (chief executive) Peter Sands and (chairman) Sir John Peace, and the management team, in delivering the refreshed strategy, restoring the bank to profitable growth and delivering returns for our shareholders.”...

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Cheap power lowers Tanesco dependency on ‘indie’ producers

Details Songas Tanzania and Independent Power Tanzania Limited (IPTL) are contributing to the national grid while other two independent power producers - Aggreko and Symbion Power Tanzania - are on stand-by....

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Govt urged to create code of governance for Dar corporations

Details “Any country that wants to attract Foreign Direct Investment (FDI) must focus on improving corporate governance for that is what investors are looking for,” said Ms Valls, who is also the Chief Executive Officer of Mauritius Institute of Directors (MIoD)....

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Swala listing oversubscribed by Sh2bn

Details Swala sought to collect Sh4.8 billion to boost its working capital. However, by the close of the IPO it had collected Sh6.65 billion...

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New indemnity cover for Tanzania's uninsured masses

Details Maendeleo Bank Plc has introduced an insurance service as it seeks to contribute towards efforts to raise indemnity cover in a country that has one of the lowest penetration rates in the region....

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L. ZONE: Hospital ship promises ‘mobile’ healthcare for Lake Victoria islanders

Details Islanders should expect regular healthcare services from November, 'Hospital Ship' project coordinators say....

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Ruvu project 'to end Dar water woes'

Details The Sh65.11 billion project started in February this year, with the lofty goal of ending water shortages in 4.5 million-strong Dar es Salaam....

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Smart cards to replace decoders, says TCRA

Details Tanzanians might start using smart cards to access digital signals of registered broadcasters in the country in less than five years to come....

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L. ZONE: ‘Speed up Lake Zone water link’

Details Kagera. Local residents are asking the government to speed up the implementation of a project to hook up Lake and Central Zones to a safe water reservoir at Lake Victoria....

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L. ZONE: Cash boost for Mwanza traders

Details Bank of Baroda’s decision to target small and medium entrepreneurs brilliant since their numbers in Mwanza are swelling and they promptly ignored by most lenders....

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L.ZONE: Govt to compensate victims of Serengeti elephant rampage

Details The ministry of Natural Resources and Tourism has pledged to compensate families whose members were either killed, wounded or had their crops destroyed by elephants that fled from the Serengeti National Park (Senapa) in Mara Region....

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Fastjet adds new Mwanza flights as demand surges

Details Fastjet adding four return flights every week between Dar es Salaam and Mwanza to meet the growing passenger demand....

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Stealing water in Dar? You could lose your assets

Details An operation carried out at Kimara kwa Musuguri in Dar es Salaam saw block-making machines, thousands of blocks and other properties confiscated because the proprietor had hooked himself into the water mains illegally....

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Govt to buy two new radars by 2015

Details The government will this financial year buy two radars to increase safety and security of Tanzania’s civil aviation, the industry regulator has said....

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Water project nears completion: Dawasa

Details The construction of a water pipeline from the Lower Ruvu water treatment plant to Ardhi University water reservoir in the city is about to be completed....

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Ministry awards Tarangire lodge five-star rating

Details The ministry of Natural Resources and Tourism has awarded Tarangire Sopa Lodge a five-star rating....

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Ewura seeks to reduce cost of oil importation

Details The Energy and Water Utilities Regulatory Authority (Ewura) is looking for a better way of reducing oil import charges....

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LAKE ZONE: Teachers stage strike in standoff with villagers

Details Following an assault on a teacher last weekend, educators in the ward have decided to ditch their duties claiming that their lives are at risk....

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LAKE ZONE: ‘Where’s cash for practical training?’

Details Tanzania Higher Learning Institutions Organisation (Tahliso) has decried delays in disbursement of funds to students who are currently undergoing practical training....

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When BRICS flex, global economies shake

Details The launch last week of a development bank and an emergency reserve fund by the Brics -- Brazil, Russia, India, China and South Africa -- appears to be a concrete attempt to address inequities created by European and American dominance at the World Bank and the IMF....

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EXPORT: Dar urged to set up grain labs

Details Tanzania should establish more laboratories for examining and certifying grains for exports, experts have advised....

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GOING GREEN: Why govt needs private equity

Details Tanzania National Agro-dealer Association (Tanada) chairman Michael Mahecha said cooperation between the two is instrumental in addressing the challenges facing input supplies to farmers....

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Tanzania’s trade deficit widens 24 per cent

Details Tanzania’s current account deficit -- meaning that the country’s economy is functioning on borrowed means -- widened by 24 per cent in the year ending June 2014 as the country experienced an increase in imports of goods and services, Bank of Tanzania (BoT) has said....

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Tanzania’s pace of providing water sluggish

Details The semi-arid country has diminishing groundwater and a lack of safe water access. New public-private partnerships are springing up, but a lack of trust and public awareness mean pace is slow...

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Oil and gas: Now the hard work begins in EA

Details The UK market intelligence firm Business Monitor International says Tanzania, Angola and Mozambique have the highest prospects for oil and gas investments in Africa....

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Too much sleep in middle age is as bad for you as too little

Details Sleeping too much in middle age can be just as bad for you as not having enough, it emerged yesterday....

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Big dreams for Rwanda’s ICT sector

Details “The internet is a needed public utility as much as water and electricity,” declared President Paul Kagame at the Transform Africa summit, held in Kigali, Rwanda’s capital city, last October to discuss the future of broadband in Africa....

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The challenges of getting land in urban Tanzania

Details Real Estate activities are growing in the country, spreading out across town centres in most of the regions that have commercial activities including urban centres such as Dar es Salaam, Arusha, Mwanza, Mtwara and many others....

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Are e-commerce services subject to any tax in Tanzania?

Details While relaxing recently at News Café I was seated next to two ladies reading books on digital devices....

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Airtel launches special tourist roaming pack

Details Tourists are set to enjoy reduced roaming charges as Airtel Tanzania launches a special tourist pack....

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Be open in natural gas income, advises IMF

Details Tanzania will start benefiting from potential natural gas revenues in the next few years but the International Monetary Fund (IMF) wants the country to spend the money transparently....

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TZ gets $855m from miner

Details African Barrick Gold (ABG) is estimated to have contributed $855 million (Sh1.4 trillion) to Tanzania’s economy in 2013 alone being both direct and indirect input, a new study shows....

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Business formalisation to avoid hassles: govt

Details The government has called upon operators of small and medium-sized enterprises (SMEs) to formalise their businesses....

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DHL keen to improve services

Details Global logistics company DHL will constantly look to exceed customer expectations to peak satisfaction during the process of delivering services, the company’s head of customer service for sub-Saharan Africa, Ms Gloria Torres, said....

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Cement firm, Tanesco ink power deal

Details Tanga Cement Company Limited (TCCL) and Tanzania Electric Supply Company Limited (Tanesco) yesterday signed an agreement....

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Precision Air narrows net loss by Sh17 billion

Details The Precision Air Group narrowed its annual net loss by 60 per cent during the year ending March 2014 as it moves closer to profitability....

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