Saturday 24 February 2018
(Inter Press Service (IPS) 03/08/13)
ARUSHA, Tanzania (IPS) - The local Tanzanian community bordering Lake Nyasa is no nearer to understanding what the conflict between their country and Malawi is about, nor why so much is at stake, as mediation efforts between Malawi and Tanzania are expected to begin soon. The 29,000-square-kilometre tranquil lake, known as Lake Malawi by Malawians, is a tourist spot, source of revenue and food for local populations. But since July 2012, it was discovered that the lake could potentially be a lucrative oil and gas source, and it rekindled a border dispute between the southern African neighbours over who owns the lake. Malawi claims sovereignty over the entirety of the lake that straddles the borders of Malawi, Mozambique and Tanzania...
(Ipp media 03/08/13)
The Bank of Tanzania (BoT) has opened a money distribution centre that will serve financial institutions based in Pemba Island by supplying them with coins as well as increase the frequency of currency exchange to reduce the old ones in circulation. BoT Deputy Governor, Policy, Economy and Finance, Dr Natu Mwamba, was speaking during a brief ceremony to launch the centre on the island earlier this week. He said that the central bank has decided to establish the centre in a bid increase availability of coins for the financial institutions on the island and to in the process increase coin circulation to the public and raising their spending power in the process vitalizing the islands economy. The centre is located...
(Ipp media 03/08/13)
China International Telecommunication Construction Corporation (CITCC) has said it will continue working with foreign customers and local partners to establish long-term and stable relations. CITCC Deputy Director Haijun Jiang said in an interview with this paper early this week that the move would enable the company to build a stable information platform for communication between China and other countries, including Tanzania. “We want to enhance cordial working relations with all countries we are operating in and extend more cooperation with others,” he said, adding that they currently boast business relations with more than 60 multinational corporations in 35 countries worldwide. “We are all over the world providing customers, among them telecommunication operators, government organisations, manufacturers of a wide range of...
(BBC News Africa 03/08/13)
Nine years ago, without any experience in journalism, Tanzania's Emelda Mwamanga started her country's first lifestyle publication, Bang! magazine, which now also reaches audiences in neighbouring Uganda, Kenya and Zambia. She had returned home from South Africa shortly after completing a degree in Industrial, Organisational and Labour Studies at the University of Cape Town, and was working as a human resource officer for Coca Cola when she decided to publish her magazine on the side. Her starting capital was $3,000 (£2,000) that she had saved from her job and $6,000 she borrowed from a bank. "Since I was in university, I had this passion of magazines and I used to collect a lot of lifestyle magazines in South Africa. Back...
(Malawi today 03/04/13)
Malawi has expressed its displeasure that the executive secretary of the Forum for Former Heads of State, which is currently mediating the Lake Malawi border dispute with Tanzania, is a Tanzanian national. Foreign Affairs minister Ephraim Mganda Chiume told reporters in Lilongwe on Saturday that submissions Malawi presented to chairman of the Forum, former Mozambican president Joachim Chissano, that it had observed the presence of a Tanzanian national, Professor John Tesia, as executive secretary of the Forum. "We expressed the same to the forum. We were also concerned about the security of our submissions considering that the executive secretary is Tanzanian. As to whether he should remain executive secretary or recuse himself, is a matter for the forum to decide,"...
(Malawi today 03/04/13)
Three former presidents from the Sadc region, including South Africa’s Thabo Mbeki, are expected to form a panel to mediate in the Lake Malawi border dispute between Malawi and Tanzania Nation Online has learnt. The revelation has come barely one week after Tanzania submitted its position on the dispute to the Forum of Former African Heads of State and Governments, which is currently being chaired by former Mozambican president Joaquim Chissano. In an interview on Monday, Malawi’s Ministry of Foreign Affairs and International Cooperation Principal Secretary Patrick Kabambe said the forum proposed that the mediation process would be done by a panel of three former presidents comprising Chissano, Mbeki and Botswana’s Festus Mogae. Kabambe, who also confirmed that Malawi has...
(Allafrica 03/04/13)
I WAS exhausted. I have spent most of my life as a rugby player and you have to be tough and pretty fearless to put your body through that kind of punishment every week. But I have to admit I was feeling more than a little nervous flying out to Tanzania. I had no idea what lay ahead. Would I be faced with sadness and despair? Would everyone I meet be sick and starving? To be honest, I didn't know what I was letting myself in for. It turns out I didn't have any reason to be such a wuss. The kids there were amazing. When I first arrived they stared at me warily, wondering who this strange-looking white man...
(Allafrica 03/04/13)
THE Bank of Africa Tanzania Limited (BoA) has promised to increase its support to operators of Small and Medium Enterprises (SMEs) to enhance their contribution to the country's economy. The bank's Managing Director, Mr Ammish Owusu- Amoah, told a news conference over the weekend that BoA has already developed several products that target SMEs in the country. "The bank seeks to provide swift financing solutions and upscale the SME community to higher levels," he said, adding that the bank's SME portfolio has grown significantly over the last few years. Mr Ammish said advances to customers in 2012 increased almost 31 per cent compared to the previous year and that most of them went to SMEs. "This demonstrates our commitment to...
(Allafrica 03/04/13)
Moshi — WHILE admitting that getting to the top of Africa's highest peak was not easy, seven-year old Aaryan Balaji from India has just achieved the feat and lived to tell his story. He sets the record for being the youngest climber to reach the Uhuru Summit on the world's tallest free standing mountain after braving the chilly weather, pounding rain and fever-inducing heights. "The paths up the mountain were muddy and slippery, the rains, mist and fog were scary but I was determined and thanks to the experienced guides the mission was successful," said Balaji who already holds a certificate of being the youngest adventurer to scale the Atlas range of mountains peaking at the world's highest point. Balaji...
( 03/01/13)
Dar es Salaam. Trade between India and Tanzania has grown in recent years, reaching over $1.7 billion in 2011 and placing the Asian country among Tanzania’s major trading partners. According to data from the Indian High Commission in Tanzania, the country’s exports to India reached about $500 million in 2012 while India has a cumulative investment of $1.8 billion in Tanzania since 2000.The Tanzania Investment Centre says Indian investments registered by the government agency constitute 15 per cent of all projects it certified. Speaking during a seminar titled “Doing Business With India,” organised by the High Commission of India in collaboration with the Tanzania Chamber of Commerce, Industry and Agriculture, the Indian High Commissioner, Mr Debnath Shaw, said the growth...
( 03/01/13)
Money transfer - The National Microfinance Bank (NMB) customers are now having a wider choice for deposit and withdrawal of cash, the signing of an agency agreement between the financial institution and Vodacom Tanzania Limited. M-Pesa agents are now working as the NMB Bank branches across the country. This comes after two years of an intensive study and creation of a software that enables the two companies 'to talk' while adhere to fool-proof safety and security standards. NMB's Chief Executive Officer, Mr Mark Wiessing said the extension of deposit channels would enable the bank's customers and non-customers to utilise over 40,000 Mpesa agents to make deposits directly into their bank accounts. 'Through this partnership of strength, NMB will be able...
( 02/26/13)
The United Republic of Tanzania's plan to privately sell floating rate notes has been met with scepticisms by market participants, who see the transaction as an about turn on the sovereign's plans to issue its debut Eurobond. The unrated East African sovereign has mandated Standard Bank for the dollar-denominated Reg S benchmark, which will have an amortising structure and an average maturity of five years. The principal will amortise in nine semi-annual instalments starting on the notes' third anniversary. The sovereign is already talking to a selected group of investors about potential pricing levels for the issue, according to a source, but as customary in private placements no official price guidance is expected before the transaction is priced. While highly...
(Tanzania Daily News 01/02/13)
President Jakaya Kikwete has cautioned some politicians and leaders in the community who did not wish the new constitution process well, asking them to stop being selfish. He also hinted on the various talks he held previously with some political leaders in the country in which they agreed to focus on the wider interests of the public since the opposite will fail the process. "If we (politicians) fail to adhere to all the issues that we discussed in the meetings, we will divide our nation in groups and will fail to get the new constitution we want," he observed. The president was addressing the audience at the final constitution draft presentation ceremony at the Karimjee Hall Grounds in Dar es...
(Bloomberg 01/01/13)
Tanzanian Finance Minister William Mgimwa died yesterday at a South African hospital after a long unspecified illness, the East African nation’s presidency said. Mgimwa, 63, was appointed in May 2012 in a cabinet reorganization, following a report by the national audit office that showed the misuse of public funds, according to the Dar es Salaam-based, state-run Daily News newspaper. Last year, Mgimwa announced the country plans to secure an international credit rating in the 12 months through June, ahead of a Eurobond sale. “I do not have enough words to describe my shock and sadness following reports of the death of Mr. Mgimwa,” said Tanzanian President Jakaya Kikwete, who visited Mgimwa twice in the hospital, according to the statement. Story:...

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