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Category Archives: Tanzania News

Clarification on 5% Withholding Tax on Services – Pracice Note No. 01/2013

Following the issue of Practice Note No. 01/2013  for Withholding Tax on Payments of Service Fee to a Resident Person under Section 83(1) (c) of the Income Tax Act, Cap. 332 was issued in  August 2013, a lot of issues have been  raised by various groups who are affected by the it.

TAX IM

Some people Confuse when the Law says Resident Person  Whether the Practice Note is applicable to Zanzibar residents or not;

The Practice Not number 01/2013 on withholding tax on service fee paid to a resident person under section 83 (1) (c) of the Income Tax Act, Cap 332 was made under Section 130 of the Act. Income tax is a Union matter, therefore the practice Note is applicable to all parts of the Union.

TAX LAW

This Practice Note is issued under Section 130 of the Income Tax Act, Cap. 332 as amended from time to time.

 This practice note was intended to address administrative problems arising from the wide scope of the recently introduced withholding tax on any service fee payable by a resident person to another resident person.

I will try to clarify on Some of issues Raised , This is to my Understanding of the practice as published by Tanzania Revenue Authority.

a)       Lack of clarity between paragraphs 5.1.2.1 and 5.1.2.3 about types of services subject to withholding tax

Generally, the services whose payments are subject to withholding tax are professional services or consulting services of independent business character. The practice note under paragraph 5.1.2.1 has gone further to list these services to be those of scientific, literary, artistic, educational or training activities of physicians, surgeon lawyers, engineers, architects, surveyors, dentists, accountants and auditors. This list represents services falling under ‘’professional or consulting ‘’. The objective of the practice note is to cover service whose payments are subject to withholding tax under section 83 © of the Income Tax Act, Cap 332.

(b) Are services not listed in paragraphs 5.1.2.1 and 5.1.2.3 are subject to withholding tax.

The intention of the practice Note is to narrow down the scope of the application of Section 83(1)(c) to professional or consulting service only where a resident person pays service fees to another person. Paragraph 5.1.2.1 of the Practice Note provides for the service that are of professional or consultancy nature which were intended to be subject of the withholding tax. This paragraph has listed some of the professional or consultancy services. However, this paragraph has only some of The professional or consultancy services falling within the withholding tax net and hence the list is not exhaustive. In so far as the service is a professional service or a consultancy service it falls within the ambit of paragraph 5.1.2.1

Paragraph 5.2.1.3 has provided a list of payments that are excluded from the scope of the 5% withholding tax that would have otherwise been subjected to the tax by virtue of Section 83 (1) (c).

Therefore, in order to determine whether a service fee payment is subject to withholding tax of 5%, one has to check whether the service fee is of a professional or consulting in nature. If the service is not professional or consulting in nature then the payment in respect of the service is not subject to withholding tax deduction. On the other hand, if the service is professional or consulting in nature and it is not specifically listed under paragraph 5.2.1.3 then the payment is subject to withholding tax.

List of  Services Not Applicable to WT Deduction:

SN                Type of Service Applicability of withholding tax
1 Hotel/ accommodation Not applicable
2 Security services Not applicable
3 Clearing Services Not applicable
4 Loading and offloading services Not applicable
5 Storage services Not applicable
6 Packaging Services Not applicable
7 Vehicle Rental Not applicable
8 Equipment rental Not applicable
9 Supply of agency staff Not applicable
10 Telephone Services Not applicable

 

Blessed Sunday ALL

MJ

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Dar es Salaam Stock Exchange Updates: weak performance compared to Last week results

THE Dar es Salaam Stock Exchange (DSE) performed dismally in both turnover and activity levels last week
as compared to the previous week’s trading.

Turnover amounted to 879m/-, a 92.3 per cent decline compared to 11.3bn/- of the previous week while activity
level shrunk, with shares traded declining to 1,344,490 from last week’s 34,679,010.

The weekly market commentary by Tanzania Securities Limited (TSL) shows that the DSE All Share Index (DSEI) gained grounds by 0.22 per cent to settle at 1,611.15.

The Tanzania Share Index (TSI) closed at 1,961.23, mainly contributed DCB, NMB and TBL counters that closed the week at 500/-, 1,760/- and 3,340/- share prices, respectively.

Both Indices strengthened with the banking segment Index gaining 2.32 per cent to close at 2,084.77 points, buoyed by gains made on the DCB and NMB counters.The Industrial and Allied Index closed at 2,063.09 points, thanks to gains on TBL counter.

Banks accounted for 94 per cent of the week’s total volume traded and 76 per cent of the market value. Mainly local investors dominated in CRDB counter trading during the week, with a mere one per cent of the counter turnover coming from foreigners.

The counter traded 851,308 shares at a price of between 320/- and 325/-. NMB transacted 151,528 shares at
between 1,740/- and 1,760/- per share.

Twiga was the most active counter among the Industrial and Allied sector during the week, moving 59,011 shares
at a price of 2,700/- each. Simba followed with 14,400 shares transacted at 2,400/- per share while TBL closed the week at 3,340/- per share having moved 7,700 shares.

A total of 3,553 shares of Swissport changed hands at 2,240/- each while TCC moved 100 shares at 6,800/-.

The PAL counter moved 400 shares at 475/- and TTP moved 50 shares at 600/- each share as TOL counter remained
dormant for the whole of the week.

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Tanzania gets $210m from World Bank For infrastructure projects, boosting regional trade.

Reported by : Reuters

Tanzania has signed a $210 million loan agreement with the World Bank for infrastructure projects aimed at boosting regional trade flows, the country’s finance ministry said on Wednesday.

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The loan, provided by the World Bank’s concessionary arm International Development Association (IDA), will finance construction of roads and a border post linking Tanzania to eastern and southern African countries.

“This support has come at a time when the government is in critical need of implementing interventions to facilitate the movement of goods and people … to enable Tanzania to become the transport and logistic hub of its neighbouring countries,” Tanzania’s finance minister, William Mgimwa, said in a statement.

The nation of 45 million people is among Africa’s biggest per capita aid recipients. In its 2013/14 (July-June) budget of 18.24 trillion shillings, Tanzania says it plans to borrow 2.86 trillion shillings from domestic and external sources.

 
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Posted by on August 2, 2013 in Tanzania News

 

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Be Updated on The USA’s Power Africa initiative

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With an initial set of six partner countries in its first phase, Power Africa plans to add more than 10,000 MW of electricity generation capacity on the continent. It will increase electricity access by at least 20 million new households and commercial entities with on-grid, mini-grid, and off-grid solutions.

The initial set of Power Africa partner countries are Ethiopia, Ghana, Kenya, Liberia, Nigeria, and Tanzania. These countries have set ambitious goals in electric power generation and are making the utility and energy sector reforms to pave the way for investment and growth. Power Africa will also partner with Uganda and Mozambique on responsible oil and gas resources management.

The United States will commit more than US$7 billion in financial support over the next five years to this effort, including:

The U.S. Agency for International Development (USAID) will provide US$285 million in technical assistance, grants and risk mitigation to advance private sector energy transactions and help governments adopt and implement the policy, regulatory, and other reforms necessary to attract private sector investment in the energy and power sectors.

The Overseas Private Investment Corporation (OPIC) will commit up to US$1.5 billion in financing and insurance to energy projects in sub-Saharan Africa.

The US Export-Import Bank (Ex-Im) will make available up to US$5 billion in support of US exports for the development of power projects across sub-Saharan Africa.

The Millennium Challenge Corporation (MCC) will invest up to US$1 billion in African power systems through its country compacts to increase access and the reliability and sustainability of electricity supply through investments in energy infrastructure, policy and regulatory reforms and institutional capacity building.

OPIC and the US Trade and Development Agency (USTDA) will provide up to US$20 million in project preparation, feasibility and technical assistance grants to develop renewable energy projects. These efforts will be coordinated through the US – Africa Clean Energy Finance Initiative (US-ACEF) and supported by the recently launched US – Africa Clean Energy Development and Finance Centre (CEDFC) in Johannesburg, South Africa.

The US African Development Foundation (USADF) will launch a US$2 million Off-Grid Energy Challenge to provide grants of up to US$100,000 to African-owned and operated enterprises to develop or expand the use of proven technologies for off-grid electricity benefitting rural and marginal populations.

In 2014, OPIC and USAID will jointly host an African energy and infrastructure investment conference. The conference will bring investors, developers, and companies together with US and African government officials to demonstrate the opportunities for investment and the tools and resources available from the U.S. government and other partners to support investment.
Power Africa will also leverage private sector investments, beginning with more than US$9 billion in initial commitments from private sector partners to support the development of more than 8,000 MW of new electricity generation in sub-Saharan Africa. Examples of commitments to-date include:

General Electric commits to help bring online 5,000 MW of new, affordable energy through provision of its technologies, expertise and capital in Tanzania and Ghana.

Heirs Holdings commits to US$2.5 billion of investment and financing in energy, generating an additional 2,000 MW of electricity capacity over next five years.

Symbion Power aims to catalyse US$1.8 billion in investment to support 1,500 MW of new energy projects in Power Africa countries over the next five years.

Aldwych International commits to developing 400 MW of wind power in Kenya and Tanzania – which will represent the first large-scale wind projects in each of these countries, and an associated investment of US$1.1 billion.
Harith General Partners commits to US$70 million in investment for clean, wind energy in Kenya and US$500 million across the African power sector via a new fund.

Husk Power Systems will seek to complete installation of 200 decentralised biomass-based mini power plants in Tanzania – providing affordable lighting for 60,000 households.

The African Finance Corporation intends to invest US$250 million in the power sectors of Ghana, Kenya and Nigeria, catalysing US$1 billion in investment in sub-Saharan Africa energy projects.

Power Africa directly addresses constraints to investment in order to accelerate progress. Instead of taking years or even decades to create an enabling environment for energy sector investment, Power Africa takes a transaction-centred approach that provides incentives to host governments, the private sector, and donors.

These incentives galvanise collaboration, producing near-term results and driving forward systemic reforms that pave the way to future investment.
To achieve these ambitions, Power Africa includes:

An interagency transactions solutions team to provide the catalysts needed to bring power and transmission projects to fruition by leveraging financing, insurance, technical assistance, and grant tools from across the US government and our private sector partners.

Field-based transaction advisors, who have already begun their work in each of the partner countries, to help governments prioritise, coordinate, and expedite the implementation of power projects, while simultaneously building the capacity of existing host government ministries to deliver results.

Building host-government capacity to develop, approve, finance and ultimately bring power projects on line is critical to the success of the initiative.

To support this need, Power Africa will work with host governments to launch or further develop delivery units charged with driving progress on specific projects. These delivery units will help increase technical skills and accelerate energy sector regulatory, market structure and enabling environment reforms.

In Tanzania for example, Power Africa will support the Big Results Now! program, which is establishing new delivery units within government ministries.

In Nigeria, Power Africa will provide staffing support, capacity building and technical assistance to an existing delivery unit. Establishment of a delivery unit in Ghana will be closely coordinated with the MCC’s Compact slated for signature in 2014.

Source: http://www.esi-africa.com

 
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Posted by on July 9, 2013 in Tanzania News

 

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Inflation drops to 7.6 per cent, on slow food prices

INFLATION continued to fall in the year to June due to slower rises in the prices of food and energy, the National
Bureau of Statistics (NBS) said yesterday.

The year-on-year rate of inflation fell to 7.6 per cent from 8.3 per cent in May, the lowest level in two years.

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NBS report released yesterday says: “The decrease of inflation rate explains that, the speed of price increase
for commodities in June has decreased compared to the speed recorded in May.”

The rate shows that the authorities in the country are ahead of International Monetary Fund (IMF) projection of
lowering inflation to 7.0 per cent by the end of December 2013.

Given the speed of declining, the IMF projection goal may be reached before the third quarter (September)
ends, even to reach the projected policy goal of 5.0 per cent before the year end.

Mzumbe University Dar es Salaam Business School Senior Lecturer (economics), Dr Honest Ngowi, said the
decline was the continuation of the downward trend experienced for several months now.

“The rate and trend are good. And we may soon reach our policy goal of 5.0 per cent in the very near future,”
Dr Ngowi said, “it reflects a good effort made by central bank for controlling money supply (in the economy).”

The senior economics lecturer said the worries are on taxes adopted for this fiscal year because some are inflationary
in nature and might derail the achievements. “We cannot reach the 5.0 per cent goal unconditionally.

The way forward is to safeguard the achievements by addressing structural issues that erode the desires to
achieve the policy rate,” Dr Ngowi said.

The initiatives, to address structural issues, like President Barack Obama’s Power Africa are commendable as
would lower the cost of electricity and ultimately production.

 
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Posted by on July 9, 2013 in Tanzania News

 

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The African First Ladies Summit : Panel Discussion on Subsistence to Security: Providing Opportunities & Improving Agricultural Outcomes for Female Farmers

The African First Ladies Summit : Panel Discussion on Subsistence to Security:  Providing Opportunities & Improving Agricultural Outcomes for Female Farmers

At the African First Ladies summit, second panel discussion topic underway. The discussion is on Subsistence to Security: Providing Opportunities & Improving Agricultural Outcomes for Female Farmers

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Moderator: Dr. Jemimah Njuki – Global Coordinator, Pathwaysband CARE Tanzania’s Women in Agriculture Program

Panelists:
Martin Fisher – Co-Founder and CEO, KickStart International
Josephine Okot – MD Victoria Seeds Ltd
Mary Rono – Dairy Farmer – Land O’Lakes Beneficiary Kenya
Sherry-Lee Singh – Project Manager, Massmart Supplier Development Fund.

Panel Overview.

Research shows that the majority of those who produce, process, and market Africa’s food are women. Specifically in Sub-Saharan Africa, women contribute 60 to 80 percent of the labor in both food production for household consumption and for sale. While women are at least half of the workforce in agriculture, access to resources such as land, credit and other services in rural communities continue to be limited, and inequality in different agriculture value chains is a substantial challenge. A Food and Agriculture Organization study found that national agricultural output could increase by as much as four percent if female farmers were granted equal access to resources like land and fertilizers. This panel addresses the most effective and innovative strategies to overcoming gender disparities and increasing women’s roles in agricultural development. Specifically, this panel highlights programs and technologies that are providing access to consumer markets, improving farming techniques, and using technology to increase yield and accelerate productivity. Finally, the panel highlights how governments, non-profits, and corporations can move the focus on agriculture beyond development and towards business growth, economic opportunity and food security.

Follow Live webcast for the African First Ladies Summit here : http://bit.ly/11WaC53 #investinwomen

MJ

 
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Posted by on July 2, 2013 in Tanzania News

 

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The African First Ladies Summit : Panel Discussion on Empowering Women through Training and Technology

The African First Ladies Summit : Panel Discussion on Empowering Women through Training and Technology

We start the Panel discussion with the Topic,
The Key to Global Growth: Empowering Women Entrepreneurs through Training and Technology

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Moderated by Mrs. Cherie Blair with the panelists Sabetha Mwambenja – MD Covenant Bank for Women, Ory Okolloh – Director of Investments, Omidyar Network and Happiness Mchomvu, Women Entrepreneurship Development.

PANEL OVERVIEWS
Compelling evidence shows that empowering women economically and fostering women’s entrepreneurship can further stability and growth across the globe. Globally, women own approximately 25 to 33 percent of all private businesses in the formal economy, but they generally do not own the means of production and win less than one percent of the business contract opportunities. Women invest up to 90 percent of their earnings on their families as compared to men who invest 30 to 40 percent of their earnings. Investing in women entrepreneurs is a strategic approach to building stronger communities, stable societies, and sustainable economies. In Africa, where it is predicted that seven of the world’s ten fastest growing economies will emerge over the next five years, financial inclusion is critical to fostering sustainable growth. The panel explores and spotlights ways that key stakeholders, including private, public and non-profit sectors are effectively applying technology to advance Africa’s development and improving lives of women through entrepreneurship. The panel emphasizes how digital advocacy, mobile technology, the collection of data, and internet connectivity are being used to increase access to: information and markets, global supply chains, increased financing for women-owned businesses, and developing skills and networks. This panel also shares stories of how First Ladies are advocating for women’s entrepreneurship.

Follow Live webcast for the African First Ladies Summit here : http://bit.ly/11WaC53 #investinwomen

MJ

 
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Posted by on July 2, 2013 in Tanzania News

 

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The African First Ladies Summit

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The African First Ladies Summit “Investing in Women: Strengthening Africa” begins in less 30 minutes.

I am humbled to be part of the summit and i will be tweeting live from the summit. Follow @MissNiyu

Today’s program includes a conversation between First Lady Michelle Obama and Mrs. Laura Bush and panel discussions about increasing economic opportunities for women. Tune in for the live webcast here: http://bit.ly/14LpC41 #investinwomen

You can also “like” the Bush Center on Facebook at http://www.facebook.com/TheBushCenter or Follow @TheBushCenter for live tweeting from the Summit, and join the conversation using #investinwomen.

MJ

 
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Posted by on July 2, 2013 in Tanzania News

 

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Geita Gold Mine THE KILIMANJARO CHALLENGE AGAINST HIV/AIDS 2013

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THE KILIMANJARO CHALLENGE AGAINST HIV/AIDS 2013

Dar es Salaam: Geita Gold Mine is set to officiate yet another year of Kilimanjaro Challenge on 7th June 2013 at Hyatt Kilimanjaro Hotel in Dar es Salaam, Tanzania. The launch will also involve naming and disbursing of funds to organizations which will benefit from funds raised during the 2012 climb.

The initiative first kicked-off in 2002 involving 47 climbers and managed to raise TZS 62 Million. It is this humble beginning and modest success that encouraged Geita Gold Mine to make the climb an annual event for a national cause. Since then an average of 40 to 50 climbers joined the challenge’s expedition annually. To date, more than 500 individuals across the globe have participated in the climb and raised more than 2Billion shillings which have benefited over 30 NGO countrywide to a fight against HIV/AIDS in Tanzania.

The Kilimanjaro challenge aims to raise awareness on the HIV/AIDS pandemic, provide financial support to HIV/AIDS initiative and build national team spirit in this noble fight. The initiative aligns the challenge with existing government HIV/AIDS initiatives and programmes while giving local climbers opportunity to climb Mt. Kilimanjaro. In the past 11 years many people have participated in the climb. The youngest being 11-year old boy and oldest at 84 years our own retired President, H.E. Mzee Ali Hassan Mwinyi. The determination shown by Mzee Mwinyi was epic. According to the Prime Minister, Hon. Mizengo K. Pinda he equated this to ‘Mbiu ya Mgambo’ (a calling drum to war).

According to Mr. Omari Issa, GGM Director said “Institutions which had no funds to operate get relieved with this charity; Children, who had lost their parents with HIV disease, are now finding care and love and can smile again. Years have come and gone but GGM Kili Challenge objectives to raise awareness of the HIV/AIDS pandemic in Tanzania will never change. We would like to acknowledge some of our participating partners, including but not limited to, TACAIDS, CAPITAL DRILL, AKO, Wambi Oil, Mantrac, Prime Fuel, African Barrick Gold, Airtel, Southern Sun, ZARA, MACS, AUSDRILL and other valued supporters. It is because of you that this noble fight against HIV/AIDS continues hence ensuring the success and continuity of this annual event by Geita Gold Mine.”

It is reported that Tanzania’s prevalence rate has gone down from over 13% in 2000 to 7.8% by 2007 and as low as 5.1% today. As part of national efforts to increase awareness on HIV/AIDS, His Excellency President Jakaya Kikwete launched the national voluntary HIV/AIDS testing campaign. Geita Gold Mine using the umbrella of Kilimanjaro Challenge counts this as a success as the initiative has also played a role in pioneering this awareness on the pandemic and look forward for the day when Tanzania will be declared Zero HIV infection.
About Geita Gold Mine (GGM)

Geita Gold Mine is located about four kilometers west of Geita Town in the northwest of Tanzania. The mine is 100% owned by AngloGold Ashanti Limited.

AngloGold Ashanti is a truly global company with proudly African roots, with 20 operations in ten countries on four continents, as well as several exploration projects. AngloGold Ashanti is currently one of the largest gold-mining companies in the world.

For more information visit: http://www.anglogoldashanti.com

###

Media Contact: Tenga Tenga
Communications Manager
Phone: + 255 689 103 619
Email: ttenga@anglogoldashanti.com

 
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Posted by on June 6, 2013 in Tanzania News

 

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Ziara ya Raisi Nchini Singapore kwa picha

Picha : Ikulu

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Rais Jakaya Mrisho Kikwete akilakiwa na Bw. Laurence Bay, Mkurugenzi Mkuu wa Wizara ya Mambo ya Nje ya Singapore. Kushoto ni Balozi wa Tanzania India na Singapre Injinia John Kijazi na mbele yao ni Naibu Mkurugenzi wa Itifaki wa Singapore Bi. Christine Tay.

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Rais Jakaya Mrisho Kikwete akisalimiana na Waziri wa Mambo ya Nchi za Nje na Ushirikiano wa Kimataifa,Mh. Bernard Membe,akifuatiwa na Waziri wa Viwanda na Biashara,Mh. Abdallah Kigoda pamoja na Waziri wa Ardhi Nyumba na Maendeleo ya Makazi,Mh. Anne Tibaijuka wakati Rais akiwasili nchini Singapore leo.


Rais Jakaya Mrisho Kikwete akiongea jijini Singapore leo wakati alipokutana na wafanyabaishara za ujenzi wa nchi hiyo mara tu baada ya kutoka Japan alikokwenda kwa ziara ingine ya kikazi. Katika mkutano huu Rais Kikwete aliwakaribisha wafanyabishara hao wa Singapore Tanzania kuwekeza katika sekta ya nyumba .


PICHA NA IKULU

 
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Posted by on June 5, 2013 in Tanzania News

 

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Canada and Tanzania Sign Investment Treaty

Source: In2EastAfrica Site

DAR ES SALAAM, Tanzania, May 16, 2013 – Foreign Affairs Minister John Baird and Bernard Membe, Tanzania’s Minister of Foreign Affairs and International Co-operation, today issued the following statement upon signing the Canada-Tanzania Foreign Investment Promotion and Protection Agreement (FIPA):

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“The agreement signed today will strengthen economic ties between our two countries and help our companies invest with greater confidence in our respective markets. Facilitating two-way investment helps generate jobs, growth and long-term prosperity for Canadians and Tanzanians.

“A FIPA is a treaty designed to protect and promote investment abroad through legally binding provisions, as well as to promote inward foreign investment. By ensuring greater protection against discriminatory and arbitrary practices, and by enhancing the market predictability, a FIPA provides businesses with greater investment confidence.

“We are committed to creating the right conditions for businesses to compete and succeed internationally, which in turn will contribute to jobs and economic growth in both Canada and Tanzania.

“Now that the agreement has been signed, both countries will proceed with their ratification processes. The agreement will come into force once each country’s domestic approval process is complete.

 
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Posted by on May 17, 2013 in Tanzania News

 

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Press Release:Dun & Bradstreet Promises Most Comprehensive Credit Bureau in Tanzania


L-R Adrian Pillay (GM Business Development), Adebowale Atobatele (GM Tanzania Bureau) Miguel Llenas (C.E.O) at the Dun & Bradstreet Credit Bureau Workshop in Dar es Salaam recently.

Participants at the Dun & Bradstreet Credit Bureau (T) Limited Workshop

Press Release

Dun & Bradstreet Promises Most Comprehensive Credit Bureau in Tanzania

FINANCIAL institutions in Tanzania are set to enjoy better protection from loan defaulters following the announcement that Dun & Bradstreet Credit Bureau, a company licensed by the bank of Tanzania to provide credit reference services in Tanzania announced that it will commence operations in a few weeks.

The workshop which was attended by Senior Executives of Banks and Financial Institutions in Tanzania, also had in attendance representatives of the Bank of Tanzania, and the International Finance Corporation who graced the event as observers and promoters of the credit reference system in Tanzania.

Speaking at the workshop, General Manager, Dun & Bradstreet Credit Bureau Tanzania Limited Mr. Adebowale Atobatele, explained that with the use of a credit report in the assessment of loan applicants, banks and financial institutions can easily estimate the credit worthiness of loan applicants thereby ensuring that they approve the loans of only those who they (banks) consider to have the propensity to repay based on their credit history.

Speaking further on the benefit of credit reporting, Mr. Adebowale Atobatele said, “The benefits of credit reporting are multi-dimensional. For example, banks and financial institutions, they can expect to make accurate risk predictions, prevent loss, reduce their NPL ratio and increase their ability to lend to a broader risk segment, Also, with a good credit report, consumers can expect to have their loan applications objectively reviewed, they can expect to have easy access to credit and build a strong reputation collateral.”

Speaking during the opening of the workshop D&B Chief Executive Officer (CEO) Miguel Llenas said, “Our aim is to build the most comprehensive Credit Bureau in Tanzania thereby playing a significant role in boosting Tanzania’s economy and financial soundness. We are in Tanzania to help improve the lending culture. We want to see a situation where people develop a culture of repayment not only because it is morally right to repay loans but because it is in the best interest of the economy.”

Credit bureaus, established by Dun & Bradstreet, have reduced the information asymmetry between lenders and borrowers thereby creating transparent and efficient credit information system.

Dun and Bradstreet Credit Bureaus Tanzania Ltd. will work closely with Central Banks, commercial banks, financial institutions, insurance companies, economic development boards and various government entities and to build a robust credit information infrastructure for Tanzania.

Nevertheless Mr. Adrian Pillay General Manager Dun and Bradstreet Credit Limited named some D&B Credit Bureaus implementations as Credit bureau of Nepal, CRB that is in Sri Lanka, Emcredit that is in Dubai, Credit Reference Company that is in Nigeria and iScore in Egypt.

Participants at the workshop expressed hope, that with the presence of Dun & Bradstreet Credit Bureau in Tanzania, the country’s financial sector will be further protected from collapse.

 

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Africa is still way too dependent on resources

REUTERS

Africa’s brisk economic growth over the past decade has been consumer driven, a much-hyped trend that masks the uncomfortable fact that the region remains far too reliant on commodities.

Sub-Saharan Africa’s growth has been second only to Asia and cracked along at 5.8 percent last year, according to a World Bank estimate, if South Africa, the continent’s biggest economy, is excluded.

About two-thirds of growth in the past decade has been driven by domestic demand, which has been stoked by a number of factors including the continent’s fast-growing and young population. Consumption has had multiplier effects into a range of services including banking and finance.

Yet unlike in Asia, Africa’s consumer boom has been financed mostly by income generated from the export of natural resources. Without developing a manufacturing sector the world’s poorest continent has effectively skipped, or missed out on, the industrial revolution that has powered China’s rise.

And that leaves it vulnerable to a sharp slowdown as the global commodities boom now looks to be faltering.

While commodities in the past decade only accounted for between a quarter and a third of African growth, depending on your measure, most of the $38 billion of Africa’s net foreign direct investment inflows in 2012 were into extractive industries.

Natural resources still account for three-quarters of sub-Sahara’s exports, according to the World Bank’s latest Africa’s Pulse analysis of the region’s economy.

It notes that the value of exports from the region soared to $420 billion from $100 billion between 2000 and 2011 – a promising trend that is also very much a double-edged sword.

“A lot of the growth in that value has been driven by the commodity boom rather than increased volumes or production,” said Russell Lamberti, chief strategist at Johannesburg-based economic consultancy ETM Analytics.

Signals abound that the commodity boom, which accompanied Africa’s fastest era of growth, is running out of steam. Having poured $400 billion into commodities over the past decade, many investors are now selling.

The lower airfare and cheaper food that may result will need a long lead time, while many African countries will feel pain in the meantime.

Take fast-growing Angola, Africa’s top crude producer after Nigeria. Its exports are worth around 65 percent of its GDP, and oil comprises 98 percent of total exports.

Consumption there has also been growing rapidly and the splurge has been on imports. So any sharp fall in oil production or prices could stymie that boom.

Government income in the big crude exporters would also take a massive hit. In Nigeria, oil and gas accounts for 80 percent of state revenue and 95 percent of foreign exchange.

“Any downturn in the oil price on the international market would certainly lead to lower fiscal revenues, and hence may have an impact on fiscal spending and economic growth,” said Thalma Corbett, head of research at NKC Independent Economists.

On the flip side, domestic demand in Africa has been supported by slowing inflation and falling oil prices will curb that further in the region’s many crude importers.

 
 

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TTCL yazindua huduma, yapunguza bei ya intaneti

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Meneja Masoko na Mauzo wa Kampuni ya Simu Tanzania (TTCL), Peter Ngota akionesha aina mpya ya Smart Phone wakati wa uzinduzi wa Huduma ya Bando na TTCL na kampeni ya punguzo kubwa la bei ya intaneti uliofanyika leo jijini Dar es Salaam. Kulia ni Mkuu wa Mauzo TTCL, Kisamba Tambwe. (Picha na Habari Mseto Blog)

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Meneja Masoko na Mauzo wa Kampuni ya Simu Tanzania (TTCL), Peter Ngota akizindua Huduma ya Bando na TTCL na kampeni ya punguzo kubwa la bei ya intaneti uliofanyika leo jijini Dar es Salaam. Kushoto ni Mkuu wa Bidhaa TTCL, Issaya Ernest.

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Posted by on April 3, 2013 in Tanzania News

 

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Central Bank keen on Liquidity Control

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THE Bank of Tanzania (BoT) is to use dual policies to control liquidity in the economy until money markets satisfactorily support interest rate targeting.
Source: Daily News

BoT said since capital and security markets are yet to be fully exploited, introduction of the interest targeting policy would not work effectively.

The central bank chief, Prof Benno Ndulu, told the ‘Daily News’ that the policy change would not be effective as desired, leading to the use of both reserve money and interest rate targeting at the initial stage.

“The old policy will be phased out gradually after the market adopts the new policy,” Prof Ndulu said. He said promotion of the new policy was underway and upon its completion it would be introduced to the market.

“The current policy rate is 12 per cent,” the governor said, but the rate is not regarded as the market benchmark since the policy used to control money does not use interest rate rather other instruments – like Treasury Bills (TBs).

According to International Monetary Fund (IMF), the central bank is collaborating and seeking the assistance from the East Africa Technical Assistance Centre (AFRITAC).

AFRITAC is a collaborative venture between the IMF, recipient countries, bilateral and multilateral donors for technical assistance mainly on capacity building.

BoT said the central bank rates would be computed based on TBs, liquidity stance and other market rates under supervision of the Monetary Policy Committee which will issue the interest rate after a space of time.

Looking ahead, IMF said, the BoT is also in the process of developing a web based questionnaire for evaluating business conditions and inflation expectations and develop indices of leading economic indicators in order to further strengthen its monetary policy framework.

The central bank has it that increasing economic activities that expanded the money markets to bring sophisticated financial systems have obliged the central bank to shift curbing liquidity goal posts.

These changes, according to BoT, brought in new challenges which mostly are positive – like developing further the capital and securities markets.

The challenges including developing money markets such as Debt Market, Dar es Stock Exchange and Foreign Exchange Market that normally fluctuate in either direction on central bank interest rates.

 
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Posted by on March 19, 2013 in Tanzania News

 

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Statoil in fresh Tanzania gas find

Source: I2EastAfrica

Statoil and Britain’s BG Group plan to build a $10 billion East African liquefied natural gas (LNG) terminal well placed for exports to Asia, after the Norwegian company made a new find off the coast of Tanzania.

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Statoil plans East Africa LNG plant after Tanzania gas find

“We have enough gas to move forward,” Statoil’s head of exploration, Tim Dodson, said on Monday after it announced the discovery of between 4 trillion and 6 trillion cubic feet (tcf) of gas in the Indian Ocean.

“We are working with BG to come up with a recommendation for a landing site. We should be making that recommendation to Tanzanian authorities fairly early in the second quarter,” Dodson told Reuters.

The latest find, Statoil’s third in the area within a year, brings its total recoverable resources there to 10-13 tcf.

BG has interests in three blocks off Tanzania together with Ophir Energy.

On Monday, BG announced that results from its Jodari well drilled off Tanzania, near Statoil’s own finds, were “excellent”.

The U.S. Geological Survey has estimated that more gas lies off the shores of Kenya, Tanzania and Mozambique than off Nigeria, Africa’s biggest energy producer.

East Africa is attractive to oil firms because of its relative proximity to Asia’s big LNG consumers.

To allow exports of the fuel to major markets, there will be a need for installations to turn gas into freezing liquid for transport by ship. Statoil and BG are on course to build one of the first.

Anadarko and Eni are planning to build an LNG export terminal in Mozambique.

The plant to be built by Statoil and BG would have at least two processing units, or trains, to process gas from Statoil’s Block 2 and BG’s Block 1.

“In addition to the 10-13 tcf that we have, they (BG) have a similar kind of number (in Block 1),” said Dodson.

“So if we have 20 tcf, there will be a discussion on whether you develop all of that straight away or whether you build two trains and then add a potential third train, or even a fourth.”

Statoil would extract the gas from the seabed via a big offshore development before piping it to the export terminal on land, Dodson said.

He said $10 billion was a fair ballpark estimate for the cost of developing the plant. An investment decision would be at least three years away, not before early 2016, he added.

Statoil operates the hydrocarbon licence for Block 2, with a 65 percent working interest, and ExxonMobil holds the remaining 35 percent.

DIVISIVE ISSUE

There is political risk to the project, with oil and gas becoming a divisive issue in Tanzania.

While oil and gas could be a much-needed source of revenue for the developing country, there are fears energy could prove to be a “resource curse”, bringing the kind of unrest experienced by Democratic Republic of Congo and Nigeria.

In the southern region of Mtwara, residents are threatening to block a gas pipeline project until they see more of the benefits.

The government has accused opposition leaders of inciting opposition to the pipeline, which it hopes will boost generation of cheap electricity and end chronic energy shortages.

Opposition politicians and activists have been calling for a halt to the issuance of oil and gas exploration licences until Tanzania revamps laws regulating its fast-growing energy sector.

The government has unveiled a draft national gas policy and plans to have new legislation in place this year.

Statoil has drilled five wells off Tanzania so far and expects further wells this year, most likely towards the end of the year after geologists analyse data provided from fresh three-dimensional seismic surveys this summer.

“We can expect more discoveries,” Dodson said.

Statoil will also drill two wells off Mozambique, primarily seeking oil, with drilling of the first well due to start in the first week of April. There, again, Dodson saw potential for significant finds.

In Angola, on Africa’s west coast, Statoil hopes to drill another well towards the end of the year. Dodson said he believed there could be very big finds as the geology is similar to the oil-rich pre-salt blocks off Brazil, across the Atlantic.

 
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Posted by on March 19, 2013 in Business News, Tanzania News

 

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BoT chief: Shilling remains relatively stable

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Prof Ndulu

The Tanzania shilling has been the most stable currency in the Eastern African region, but since the beginning of this year, it fails to hold against the US dollar and currencies of the country’s other major trading partners.

The shilling currently trades at 1,620/- for the greenback, up from last year’s average of 1,580/-. Staff Writer ABDUEL ELINAZA had an interview with the Central Bank Governor, BENNO NDULU, on the issue. Excerpts…

QUESTION: Why is the shilling sliding down against the US dollar to reach 1,620/- by mid-last month?

ANSWER: The movement of the shilling to the US dollar to exchange at 1,620/- is the outcome of normal market forces as opposed to failure of country’s monetary policy. For the past 14 months, since December 2011, the exchange rate of the shilling against the US dollar has remained stable in comparison to the depreciation for the previous year and in comparison with many currencies including those of our major trading partners.

The annual depreciation of the shilling against the US dollar at the end of January 2013, was only one per cent. In the 12 months to December 2011, the shilling had depreciated by nearly 15 per cent, but the measures we took have considerably slowed down the rate of depreciation.

Q: Has the tight monetary policies failed?

A: No. Not at all. Actually, the data shows that while Tanzania Shilling depreciated by 1 per cent in the 12 months ending January 2013, the Kenyan shilling depreciated by 4.6 per cent and the Ugandan shilling by 11.7 per cent. At the same time the exchange rate of the South African Rand against the US dollar depreciated by 11.8 per cent, while that of Indian Rupee depreciated by 6.8 per cent and that of Japanese yen by 18.6 per cent during the same period. There has been significant increase in the demand for the dollar among non-typical users.

Typically we pay for power generation in shillings. Currently the Independent Power Producers (IPPs) — other than TANESCO are mostly paid in foreign exchange — since they have to meet their obligations in foreign currency. The weekly demand for US dollars by TANESCO to purchase power from the IPPs and to pay for their fuel import bill is substantial and at present in excess of four million US dollars, putting additional pressure on the amount spent on importing expensive fuel for transportation and industrial use.

The annual bill for importing expensive oil still stands at more than 3,300 million US dollars a year. Furthermore, foreign contractors building roads and other infrastructure projects funded by domestic revenue have to be paid and they typically externalise their revenues adding to the demand pressure for foreign exchange.

Q: Tanzania is now taking the IMF Standby Credit Facility loan of about 117 million US dollars. Is this because we have failed to boost exports and thus the foreign exchange inflow?

A: The decision by Tanzania to take the IMF’s Standby Credit Facility of about 117 million US dollars is not unusual. This decision is based on our assessment of the balance of payment needs, external debt sustainability position and concessionality of the loan. Tanzania has been borrowing from external concessional sources such as the World Bank and the African Development Bank to finance various development projects and programmes in order to boost economic growth and expedite poverty reduction.

It has also borrowed from the IMF from time to time for balance of payments purposes. In its endeavour to expedite implementation of development projects, including transport infrastructure, power generation and the gas pipeline, the government has decided to borrow from nonconcessional sources.

This decision has been taken with careful consideration of the country’s debt sustainability status. In 2011, the government borrowed 221.8 million US dollars for power generation. In 2012, some 213.5 million US dollars was borrowed for construction of the gas pipeline.

Source: The Daily News, http://www.dailynews.co.tz

 

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AfDB says door open to private sector

The African Development Bank (AfDB) has challenged the local chief executive officers to utilise the borrowing opportunity availed by the regional bank through its private sector window.

AfDB offers non-sovereign guaranteed loans for both public and private sectors in the regional member countries to enterprises engaged in activities in any sector, including, but not limited to, manufacturing, infrastructure, extractive industries, energy, and other productive activities.

The AfDB resident representative in Tanzania, Dr Tonia Kandiero, challenged CEOs in the country whose companies deal with profitable investments to utilise the bank’s opportunities which also do equity investment.

“Tanzania has much potential in terms of profitable sectors and there are huge and endless opportunities for the bank investment,” said Ms Kandiero, during the CEO roundtable on Tuesday.

According to her, the new private sector operations reached $1.3 billion in 2012. The sponsorship is also available in local currencies.

She was invited by the CEO roundtable to give a presentation about the bank and the role it plays in financing development projects so that the private sector could determine how to chip in and explore the opportunities available.

“AfDB is a very big financier of infrastructure development and other profitable sectors but the business community is not very much aware of the opportunities the bank offers.

“We invited her since the private sector is looking for investment opportunities,” said the CEO roundtable chairman, Mr Ali Mufuruki.

The CEO Roundtable normally invites various people to talk about relevant issues which are relevant and important to the business community in order to give ideas that they can explore and invest in.

Source: The Citizen, http://www.thecitizen.co.tz

 
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Posted by on March 14, 2013 in Tanzania News

 

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Tanzania Money Market Updates

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The Tanzanian shilling was stable against the US Dollar on Wednesday as there were fewer inflows of US Dollar in the market.

Commercial banks quoted the local unit at 1621/1631 against the dollar, which was the same as Tuesday’s close of 1621/1631.

CAPITAL MARKET

Wednesday, Today, DSE recorded a total turnover of TZS 44.13 mln from 72,388 shares traded in 33 deals in comparison to the previous session which recorded a turnover of TZS 34.30 mln from 150,702 shares traded in 39 deals.

CRDB counter had 1,469 shares traded at weighted average price of TZS 160 per share in 18 deals.

SIMBA counter had 20 shares traded at weighted average price of TZS 2,400 per share in 1 deal. SWISSPORT counter had 5,100 shares traded at weighted average price of TZS 1,820 per share in 3 deals.

TBL counter had 3,199 shares traded at weighted average price of TZS 3,100 ex dividend per share in 7 deals.

Today foreign investors generated a total turnover of TZS 24.65 mln for the purchase of 49,300 CRDB shares and 13,300 NMB shares. Meanwhile on AON Board there were 810,100 TBL shares on offer at TZS 3,100 per share.

MONEY MARKET

On Wednesday, the interbank money market recorded a total volume of TZS 36.70 billion whereas the shilling was exchanged at the levels of between 7.00% and 3.00%.

Source: The CRDB BANK

INTERBANK FOREIGN EXCHANGE MARKET (14th March 2013)

 

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Tanzania faces 18 months of power cuts

12 March 2013

Tanzania Electric Supply Company (Tanesco) says that the country will continue to experience random power cuts for the next 18 months.

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At that point it is hoped the proposed US$1.22 billion natural gas pipeline to run from Mtwara to Dar es Salaam will be completed.

Tanesco acting managing director Felchesmi Mramba says that the frequent power cuts were mainly due to high power generating costs in meeting the country’s electricity demand.

A mere 130 MW is being generated from Kidatu, Pangani and Kihansi hydroelectricity sources and prolonged drought could make the situation worse.

The country is seeking a US$100 million loan from the World Bank for emergency electricity generation after low water levels hurt hydropower output. In 2012 Tanesco negotiated a syndicated loan of US$251 million from a consortium of banks led by Citibank and had received part of the funds.

The unreliable nature of its hydro generation is forcing Tanesco to spend more than twice its daily income on a mixture of diesel, jet A1 and heavy fuel oil for mini-generators that produce 365 MW.

The power utility is certain that completion of the Mtwara-Dar es Salaam pipeline will allow for cheaper gas-based electricity production.

The country’s average power demand stands at 750 MW a day and peaks at around 850 MW.

Tanzania has vast deposits of natural gas but it has been plagued by frequent power outages, which led to a slowdown in economic growth in 2011/12.

“The gas pipeline will give a major relief not only to power generation but to the entire economy of Tanzania. We currently have 170 MW of idle power plants because we don’t have enough natural gas supply,” Mramba says.

 
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Posted by on March 12, 2013 in Tanzania News, Uncategorized

 

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Fast Jet Toasts its 75,000th passenger

Source: The Daily News, http://www.dailynews.co.tz

FastJet has achieved what it calls a milestone in just two months since its inaugural flight to register its 75,000th passenger.

To celebrate the achievement, the first Pan-African low cost airline has named one of its aircraft after a customer, Veronica Chuwa.

The passenger, who came 75,000th, on the list of fliers with FastJet was to appear, from on Thursday, on one of the three Airbus 319s for the duration of the coming year.

Mrs Chuwa, who travelled last month was also presented with two complementary tickets to mark the 75,000 travellers and this has been termed as the best shortest milestone in history.

FastJet’s General Manager in Africa, Kyle Haywood, said the number of passengers booking flights with FastJet has been consistently high, with an average load factor of over 70 per cent.

“This is testament of the genuine demand for low-cost air travel among Tanzanians,” Mr Haywood, who is based in Dar es Salaam, told journalists.

The GM used the occasion to assure the public that the airline has a long vision in the country of hooking many non-airline travellers to fly by minimizing distribution costs in favour of passengers.

“We are happy to keep and see to it that the same passengers are coming back. We have also developed sales of tickets using M-Pesa to ease as much as possible distribution costs,” Mr Haywood said.

He said, M-Pesa ticketing totalled eight per cent of total sales. He said staring today the no-frill airline sales two new destinations tickets –Kilimanjaro-Zanzibar and Kilimanjaro-Mwanza — on daily basis and flight will be introduced on March 18.

“This is second phase of our business plan after being satisfied with smooth operation of the first phase.” Mr Haywood said, “the third phase is international destinations.”

Talking about Tanzania Revenue Authority (TRA) outstanding liabilities of 3bn/- inherited from Fly540, the Country Director said at the moment they are doing validation with taxman to quantify the actual amount prior to payment.

“First of all the debt would not jeopardize the operation of FastJet. We will pay the dues but we need to see supporting documents before we make the payment,” Mr Haywood said.

He added: “We are in dialogue with TRA and Tanzania Airports Authority (TAA) over these historical bills.”TRA Acting Director of Taxpayers Service and Education Allan Kiula said he was aware of the matter but should be given time to contact the relevant office, Ilala tax region, to ascertain the progress.

Regarding violating Air Operation Certificate (AOC) regulations that stated that the principal office should be in Tanzania and not Gatwick, London, the airline said its Africa operation hub is in Dar es Salaam and only top officers, such as Chief Executive Officer, Chief Operation Officer and Head of Marketing are based in London.”The rest are in Dar es Salaam, including myself and over 200 members of staff mostly Tanzanians,” he said.

 
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Posted by on February 28, 2013 in Tanzania News, Uncategorized

 

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NHIF to Benefit Low Income Earners

The National Health Insurance Fund (NHIF) is mulling over the introduction of a universal health insurance in order to cover Tanzanians from all walks of life and enable them access health services.

This was revealed by the Director General of NHIF, Dr Emmanuel Humba, during the 8th Forum of Editors and Journalists on better utilization of health funds through NHIF and the Community Health Fund (CHF), in district councils countrywide.

The forum follows a research conducted in 26 district councils countrywide by journalists from various media outlets on how the councils can make use of health insurance funds to improve health services in the respective districts.

“The new cover will enable all Tanzanians, even those in the low income bracket to benefit from health insurance.

There will be an arrangement to ensure that no one is left out,” Dr Humba told participants at the meeting. In another development, the NHIF boss hinted that the fund is also considering starting fresh registration of its members and beneficiaries in collaboration with the National Identification Authority (NIDA).

He said through the agreement, the health insurance fund will be able to reduce costs of producing new cards as it will engage NIDA to have some of the information such as finger prints to be shared amongst them.

“With six million beneficiaries of NHIF and Community Health Fund (CHF) countrywide, it would have cost us a lot if we produced the cards on our own, but through collaboration with NIDA, we will save funds that should have been used for the exercise,” he explained.

And in a bid to reduce congestion at major hospitals, the NHIF boss has also said it will start registering clinics providing specialized treatment so that NHIF beneficiaries can receive treatment directly from the clinics.

“There are some complicated cases where patients require specialized handling; it is our dream that these cases be treated at these clinics in the near future,” Dr Humba said.
Officiating at the

This sounds like a good plan, i hope it works and will benefit Tanzanians especially the low-income earners who cannot afford the current health insurance services available in the country.

MF

 
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Posted by on February 26, 2013 in Tanzania News

 

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Central Bank defends govt move on IMF credit

Source: The Daily News, http://www.dailynews.co.tz

The country’s decision to take the IMF’s Standby Credit Facility (SCF) of about 117 million US dollars was termed ‘not unusual’, the Bank of Tanzania (BoT) has said.

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The BoT attributed the decision to assessment of balance of payment needs and external debt sustainability position, while concessionality of the loan was taken on board as well.

BoT’s Governor Prof Benno Ndulu told the ‘Daily News’ that the decision was not based to cushion the export-import deficit but to finance various development projects and programmes.

“This decision is based on our assessment of balance of payment needs, external debt sustainability position… in order to boost economic growth and expedite poverty reduction,” Prof Ndulu said.

He explained: “The disbursement of the external concessional loan does not deviate from the trends that have been observed in the recent past.”

The amount was designed to expedite implementation of development projects, including transport infrastructure, power generation and the gas pipeline, hence decided to borrow from non-concessional sources.

In 2011, the government borrowed 221.8 million US dollars for power generation. In 2012, 213.5 million US dollars was borrowed for construction of gas pipeline.

Official data from BoT shows that total external concessional loans from World Bank, IMF, Japan, African Development Bank (AfDB), France and others has descended considerably from 803.6 million US dollars in 2009 to 512.6 million US dollars in 2010 when the global economy went into crisis.

But after the financial meltdown, the debt levels went down to 289.4 million US dollars in 2012.

The Governor assured the pubic that the ‘decision (was) taken with careful consideration of the country’s debt sustainability status.’

Last week the IMF said Tanzania expressed the intention to draw 114.2 million US dollars to cushion against deterioration in external demand and access to global market financing. The fund is available through the 225 million US dollar Standby Credit Facility (SCF) arrangement for Precautionary Arrangement.

 
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Posted by on February 26, 2013 in Tanzania News

 

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2.4bn/- lawsuit for Fastjet?

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Freckle-faced budget airline Fastjet could be sued for over 2.4bn/- (1.5 million US dollars) by Tanzania Revenue Authority (TRA) for failing to pay taxes for almost a year, UK daily The Telegraph reported Thursday.

The Tanzanian arm of the firm, which is listed at the London Stock Exchange, failed to pay payroll and property taxes, according to The Telegraph brief.

Sources told the UK paper that the company was found to owe the Tanzanian government billions in unpaid dues during a tax audit last month.

Local representatives of Fastjet say the burden is not theirs to pay off. They say the matter is a legacy issue inherited when the budget carrier took over local hauler Fly540 in June last year.

“[Fly540 chief executive] Don Smith has accumulated significant debt from Fly540, Fastjet has no liability for these,” says a Fastjest press note sent to The Citizen on Sunday.

Firm spokesperson Meg Muigai insists all money issues were settled during the buyout. Fastjet owes the Fly540 executive no other favours, she says in the statement.

“Mr Smith certified in a document signed by him on 24 July 2012 that other than specific liabilities as set in the document, there is no other liability or indebtedness due to him or any entity controlled by him.”

The Telegraph reported that Fastjet was also on the hook for missed airport departure charges accrued by its newly-bought asset between January and November last year.

These claims are the latest in an array of other demands and legal issues the embattled budget carrier is grappling with in East Africa.

The firm is embroiled in bitter disputes in Kenya and Uganda, according to British media.

In an earlier response, the UK paper quoted a Fastjet spokesperson who said the company “works closely with the Tanzanian government to properly address all historic issues relating to tax.”

Tax officials in Dar es Salaam have told The Citizen on Sunday they are unaware of any revenue backlog issues pertaining to the newly-launched no-frills carrier.

Senior Tanzania Revenue Authority (TRA) officer Lupinje Hamis said he was unaware of any tax issues, and could not comment on the Fastjet matter.

The firm shook the Tanzanian airline industry to the core with the introduction of ultra-cheap air travel in November last year.

It is positioning itself as a major contender in Africa, with an aggressive growth strategy that has seen it pursue partnerships and acquisition in West, Central and Southern Africa.
Source: The Citizen, http://www.thecitizen.co.tz, the Citizen Reporter and Agencies

 
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Posted by on February 4, 2013 in Tanzania News

 

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Clouds FM, ITV, Precision Air, Azam and UDSM among top brands‏

precision air
Precision Air, Azam Products and  University of Dar es Salaam are among top 20 of the country’s consumer  super brands for 2013, according to the London based research firm, The  Centre for Brand Analysis (TCBA).

Also on the list, according to the TCBA, 2013/14 super brands are Vodacom, Mlimani City, National Microfinance  Bank (NMB), Coca Cola and Fanta, and M-Pesa.

Others in the list are  Kilimanjaro Drinking Water, Chai Bora, Panadol, Foma Gold, and  Kilimanjaro Music Award.
The Project Director for Superbrands  East Africa, Mr Jawad Jaffer, said in difficult global economic times a  strong brand provides businesses with powerful advantage over rivals.
“As such all the brands rated highly by both the experts and consumers  we surveyed should be delighted that their reputation might provide them with a vital foundation in which to outperform the market,” he said.
On top of the list are two media houses  ITV and Cloud FM beating international icon brand such as Coca Cola.
The list was computed following a detailed research process overseen by  TCBA after incorporated views of both a council and over 600 consumers  in a bid to seek and identify the nation’s strongest brands.
This approach was coupled with the  judgment of the Independent Council of Marketing experts which makes  this year’s exercise very exciting once again.

 

 

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Shilling makes ‘some headway’ against dollar

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The shilling made some headway against the dollar yesterday on the back of increased flows and declining corporate demand, with medium volatility expected in the near future.

Analysts said the shilling was bound to appreciate or stabilize further, thanks to favourable macroeconomics fundamental that are heading into the right direction.

Tanzania Securities Chief Executive Officer Moremi Marwa said given the last year fluctuation pace of about one per cent, the local currency was relatively stable and likely to remain so.

“It’s too early to predict on the shilling movement for this year as the current year’s parameters might not be the same as last year’s. “ H o w e v e r , macroeconomics fundamental are pointing to the right direction of the local currency stability in this year,” Mr Marwa told the Daily News.

The country’s letter of intent to International Monetary Fund shows that economic activities have remained robust with GDP projected to grow by 7 per cent last year and 6.7 per cent this year against the 6.6 per cent of 2011.

On the other hand, inflation eased to 12.1 per cent last December from 19.8 per cent of January same year.

Headline inflation is projected to continue easing in the months to come and return to single digit by the end of June. Standard Chartered Bank said yesterday that the shilling gained some grounds against the dollar on the back of agro-inflows and declining corporate demand.

“We anticipate the shilling to further appreciate today (Wednesday) with the low to medium price volatility expected in the market,” Standard Chartered Bank said on its Daily Market Report.

National Microfinance Bank (NMB) said demand for the hard currency mainly came from energy sector and traders as agro-inflows and the central bank’s intervention matching the same.

The bank said on its e-newsletter that the market closed at 1588/1609 with an upside risk in case of any significant demand days ahead. Mr Marwa has it that the shilling stabilising parameters are sound since the ups and downs that were experienced last year are expected to ease further in this year.

The shilling last year went off board to trade at over 1,600/- a dollar, following increased demand of oil to generate electricity and delays in disbursements of donors’ budget support that created huge supply-demand gap.

The government, through the letter of intent to IMF, said the exchange rate would remain market determined and the BoT will continue to participate in the foreign exchange market only for liquidity.

Source: The Daily News

 
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Posted by on January 21, 2013 in Tanzania News

 

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Submission of VAT returns Electronically Starts this October

Tanzania Revenue Authority in modernizing its operations as envisaged in its Third Corporate Plan has developed a web-based application which is to be accessed and used in filing tax returns and statements. The web-based return e- filing System has been developed with the prime objective of easing documents filing by Taxpayers. The System offers the following benefits:

  • Taxpayers will      interact with TRA while at their houses or offices.

  • Elimination or      reduction of queues at TRA offices during return filing days.

  • E-filing will      result in fewer errors and creates simple and quicker processing of      documents.

  • Taxpayers can save their records in their e-mail boxes or print       hard copies for future reference

The requirements for filing VAT returns electronically will be effective October 2012 and all Registered Taxpayers are required to register for Electronic Filing in order to be able to use the e-filing system.

Visit http://www.tra.go.tz and click on the e-filing hyperlink to start the process.

 
 

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3 Ways You Can Evaluate Country Risk

For many investors, investing  internationally is an attractive way to gain additional diversification  and increased return for their portfolios. At the same time, however, many find  it hard to invest abroad due to lack of experience, unfamiliarity with the  foreign country and excessive amounts of information to analyze. To alleviate  some of these difficulties, we’ll look at a couple ways to help you more easily evaluate  the degree of risk in a country’s fundamentals.


Where  Does Sovereign Risk Fit?
Analyzing sovereign  risk factors is beneficial for both equity and bond investors, but perhaps more directly  beneficial to bond investors. When investing in equity of specific companies  within a foreign country, a sovereign risk analysis can aid in creating a macroeconomic picture of the operating  environment, but the bulk of research and analysis would need to be done at the  company level.
On the other hand, if you’re investing directly into a  country’s bonds, evaluating the economic condition and strength of the country  with these methods can be a good way to evaluate a potential investment in  bonds. After all, the underlying asset for  a bond is the country itself and its ability to grow and generate revenue.

Often, the most common method used by  investors, with time or resource restrictions that don’t allow them to do the  analysis themselves, is to rely on experts who spend all their time doing that  type of analysis. Calculating debt  service ratios, import/export ratios, money supply changes and all those other  fundamental aspects of a country, and attempting to incorporate them all into  the big picture, requires a significant commitment if you do it by yourself.  Thus, it is recommended against in favor of a number of easy-to-understand  indicators. Sourcing these tools from organizations focused on analyzing country risk allows more energy to be  focused on investing.

Euromoney Country Risk The  first tool that can be used to evaluate sovereign and political risk is the  Euromoney Country Risk survey. The ECR survey covers 186 countries and gives a  comprehensive picture of a country’s investment risk. The rating is given on a  100-point scale, with a score of 100 representing virtually zero risk.

In  general, the calculation of the ECR rankings is split between two overall  factors – qualitative (70%  weighting) and quantitative (30%  weighting). The qualitative factors are derived from experts who assess the  political risk, structure and economic performance of the country. The  quantitative factors are based on debt indicators, capital market access and  credit ratings. The rating for the qualitative and quantitative factors are  available separately, so if you believe the weighting importance to be different  than 70/30, you have the flexibility to manually adjust the weighting  yourself.


The Economist Intelligence Unit
The next popular credit rating information source is the  Economist Intelligence Unit (EIU). The EIU is the research arm of The  Economist and one of its best offerings is its Country Risk  Service ratings. These ratings cover over 100 countries, with an emphasis  on “emerging and highly indebted”  markets. The rating analyzes factors similar to the ECR rating, such as economic  and political risk, and provides a rating on a 100-point scale; however, unlike  the ECR rating, higher scores mean higher sovereign risk.

A benefit of the EIU ratings is that they  are updated on a monthly basis so trends can be caught much earlier than other,  less frequently updated methods. In addition, the EIU format offers investors  more analysis and provides an outlook for the country as well as two-year  forecasts for several key variables. So if you want to get a sense of the  direction a particular country is headed in for in the near future, this may  prove to be a useful tool.
Below is an example of the EIU ratings of a  handful of high-risk countries in early 2011.

Data source: http://www.eiu.com, August 2012

Country Credit Survey (Institutionalinvestor.com) The third  method, the Country Credit Survey, is also a rating service based on a survey of  senior economists and analysts at large international banks. The uniqueness of  this approach is appealing because it surveys people from companies that are at  the ground level, lending and providing capital directly to these countries. In  a sense, this adds a degree of credibility to the ratings because major  international banks typically do a significant amount of due  diligence before exposing themselves to certain countries.

Similar to  the other approaches, this rating is based on a scale of 0 to 100, with 100  being virtually risk-free and zero being equivalent to certain default. For  example, in March 2011, economists and analysts surveyed at major banks and  securities firms assessed that Norway was the country with the lowest  probability of default, with a score of 95.2. Meanwhile, they also assessed that  Somalia had the largest probability of default, with a score of  3.9.


The Bottom Line is
For investors  who have limited time and resources but want to diversify internationally, these  methods can be a great help to create a short list of countries that you may  want to invest in. Each method has its strengths and weaknesses, but it might be  best to use a combination or all of these popular data sources for country risk.  Each method can provide a unique perspective for the  investor.

 

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Investors rush for 10-year treasury bonds‏

Daily News

THE 10-year bond by the Bank of Tanzania (BoT) was oversubscribed by 19.49bn/-, an equivalent of 65 per cent.

According to the results of the tender floated last week, despite the  oversubscription, the central bank accepted only 30bn/- sought to be  mobilised after bidders demanded for high prices.

“The highest  and lowest bids were valued at 84.10 and 70.06, respectively while the  average price for successful bids was 81.56,” stated the report. The  continued oversubscription testifies to stability of the liquidity  stance in the market.

The BoT interventions to either ease or  tight liquidity stance in the market is done cautiously without  disturbing interest rates of the money instruments.

In the  10-year tender, only 24 out of 31 bids received emerged successful, an  indication that some investors tendered below the price offered at the  market.

In the preceding auction deal, the government accepted  more funds and concentrated on bond issuance to finance its development  expenditures.

In the meantime, interest rates was 15.06 per cent  lower than the rates offered in the previous 10-year deal, it did not  prevent investors from injecting massive funds.

Furthermore  according to the central bank’s monthly economic review for the year  ending June 2012, auctioned Treasury bonds worth 30bn/- and 15bn/- of  2-year and 10-year maturities, respectively.

The auctions were  oversubscribed and dominated by commercial banks, pension funds,  insurance and few micro-finance institutions firms which are among the  key players in the long term fixed instruments.

The BoT accepted bids amounting to 20bn/- and 15bn/ for the 2-year and 10-year Treasury bond, respectively.

The weighted average yields for the treasury bonds increased when compared to the rates recorded in the preceding auctions.

 

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GROWING HOUSING OPPORTUNITIES IN AFRICA CONFERENCE 8TH – 10TH OCTOBER, 2012

GROWING HOUSING OPPORTUNITIES IN AFRICA CONFERENCE  8TH – 10TH OCTOBER, 2012

SOURCE: Bank of Tanzania


ABOUT THE CONFERENCE
1.Registration

Delegates of this conference are required to pay registration fee of US $300 or TZS 450,000 and register by downloading the Conference Registration Form, fill and email it to the Conference Secretariat conf@bot.go.tz. Alternatively, the filled form may be faxed to +255 22 2234053, attention: Valentine Buberwa.
For future reference, you may wish to save the filled form before sending it. Nevertheless, feel free to contact the following individuals for enquiries:

1.Mrs. Valentine Buberwa Tel: +255 22 223 3424 e-mail: vkbuberwa@hq.bot-tz.org
2.Ms Zawadi Mwitula Te: +255 22 223 3435 e-mail: zemwitula@hq.bot-tz.org
3.Ms. Deborah Wapalila Tel: +255 22 223 5195 e-mail: dewapalila@hq.bot-tz.org
4.Mr. Baraka Munisi Tel: +255 22 223 5324 e-mail: bdmunisi@hq.bot-tz.org
5.Mr. Oscar Mugaya e-mail:  info@tmrc.co.tz
Registration deadline is ……15 September, 2012……………………………..
2.The Conference Venue

The conference will be held at the Bank of Tanzania headquarters in Dar es Salaam, Tanzania.
3.Delegates Accommodation

Delegates are advised to make their own accommodation arrangements and inform the conference secretary (conf@bot.go.tz) For Hotel information. (click here).
4.Travel Information

Visa for Tanzania. Where possible, Delegates are strongly advised to obtain visa from their resident countries to facilitate their travel arrangements.

5.Conference Agenda

To view confrerence schedule and Agenda (click here)
For More Information about Payment Methods, Tanzanian Embassies, Diplomatic missions, Immunization Requirements, Currencies, Transports, Time Zone, Power Ratings, Climates, Tourist Attractions, please! Download the document below:-
GROWING HOUSING OPPORTUNITIES IN AFRICA CONFERENCE  8TH – 10TH OCTOBER, 2012 INFORMATION

REGISTRATION FORMS
 
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Posted by on August 16, 2012 in General Knowledge, Tanzania News

 

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Benki ya Afrika Tanzania yaongeza faida‏

BENKI ya Afrika Tanzania imeongeza faida yake mara mbili kufikia nusu ya mwaka huu 2012 kulinganisha na kipindi hicho kwa mwaka 2011.

Taarifa ya fedha iliyotolewa hivi karibuni, ilieleza kuwa benki hiyo imepata Sh milioni 551 katika robo ya mwaka inayoishia Juni 2012 kulinganisha na Sh milioni 273 iliyopata katika kipindi hicho mwaka jana.

Kwa mujibu wa Mkuu wa Idara ya Fedha wa benki hiyo, Mussa Mwachaga, faida iliyopatikana kutokana na riba ni Sh bilioni nne katika robo ya mwaka inayoishia Juni 2012 kulinganisha na Sh bilioni tatu iliyorekodiwa katika kipindi hicho mwaka jana.

Mwachaga alisema benki imerekodi faida inayotokana na riba ya Sh bilioni 8.2 katika kipindi kinachoishia Juni mwaka huu ukilinganisha na Sh bilioni 5.7 zilizorekodiwa katika kipindi kama hicho mwaka jana.

Benki ya Afrika Tanzania imekuwa ikijitahidi kujitanua na kuimarisha huduma zake katika miaka ya hivi karibuni.

Tangu ianzishwe nchini mwaka 2007, imeshafungua matawi 10 mkoani Dar es Salaam na sita nje ya mkoa huo yakiwamo ya Morogoro, Tunduma, Mwanza, Moshi, Mbeya and Arusha.

Benki hii ni moja ya mtandao wa kibenki unaofanya kazi katika nchi 15 ambazo ni Benin, Burkina Faso, Ghana, Ivory Coast, Mali, Niger, Senegal, Burundi, Djibouti, Kenya, Madagascar, Tanzania na Uganda. Pia ina tawi katika Jamhuri ya Kidemokrasia ya Kongo.

 
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Posted by on August 7, 2012 in Tanzania News

 

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Wabunge waridhia hoja ya marekebisho mafao‏

 Dodoma:

WABUNGE wameridhia hoja ya kutaka yafanyike marekebisho ya Sheria namba 5 ya Mifuko ya Hifadhi ya Jamii ya mwaka 2012 baada ya Mbunge wa Kisarawe, Selemani Jafo (CCM) kuiwasilisha bungeni jana.

Katika hoja hiyo iliyoungwa mkono na wabunge, Mbunge huyo ametaka Serikali katika Mkutano ujao wa Bunge, iwasilishe muswada wa sheria kwa hati ya dharura kwa ajili ya kuweka vifungu vya sheria vinavyoweka fao la kujitoa katika mifuko hiyo kwa wafanyakazi wanaoacha kazi kwa sababu wafanyakazi wana haki ya kuacha au kuendelea na kazi.

“Wakati tunasubiri kuleta muswada Serikali itoe waraka wa maelekezo kwa mifuko ya jamii kuendelea kuwalipa mafao watumishi walioachishwa kazi au walioacha kazi,” alisema Mbunge huyo.

Ametaka pia katika muswada huo, Serikali iondoe vifungu vinavyomtaka mtumishi kuwasilisha maombi ya  kupata msamaha kwa fao la kujitoa.

Aidha, ametaka Serikali iagize kampuni za madini kutosimamisha wafanyakazi waliohoji kwa kina juu ya mafao yao baada ya kupata mshituko wa taarifa ya kutoruhusiwa kuchukua mafao.

Aliitaka Serikali iangalie kanuni inayotumika kukokotoa mafao ya wafanyakazi na kutaka watumishi wote wanaolipa kodi kupitia mishahara yao wapewe TIN namba wajulikane ni walipa kodi halali.

Mbunge huyo alisema Serikali isipowasilisha muswada huo wa marekebisho ya sheria, atawasilisha muswada binafsi ili wabunge wote walete marekebisho hayo kama alivyoyapendekeza.

Kwa mujibu wa Mbunge huyo, wanachama walifaidika na kujitoa na kulipwa mafao kwa kuwa uliwawezesha kupata kianzio cha maisha yao baada ya kuacha kazi ikizingatiwa kwamba wafanyakazi nchini wanaishi maisha ya kuungaunga.

Alisema kutokuwapo kifungu hicho cha sheria kutaleta athari kwa watumishi wanaoachishwa kazi kabla ya umri wa kustaafu kwa kushindwa kuendesha maisha.

Alisema jambo hilo limekuwa tete na kuathiri uzalishaji katika sekta hususan katika madini ambako katika baadhi ya migodi, baadhi ya wafanyakazi walitishia kuandamana.

Spika Anne Makinda alisema leo Waziri wa Kazi na Ajira huenda akazungumzia suala hilo katika hotuba yake, lakini akataka Kamati ya Uongozi kuangalia upya muswada huo kabla ya kuwasilishwa kama hati ya dharura.

 
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Posted by on August 7, 2012 in Tanzania News

 

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DSE to Benefit from SADC Countries Linking Stock Exchanges

THE Committee of Southern Africa Stock Exchanges says it will explore technological ways of linking trading and order systems of Sadc stock markets, committee chairperson Mrs Beatrice Nkanza has said.

This would help to increase the effectiveness of Sadc’s 10 stock exchanges including DSE.

Other CoSSE members apart from  Dar es Salaam Stock Exchange of Tanzania are Botswana Stock Exchange, Malawi Stock Exchange, Stock Exchange of Mauritius, Bolsa de Valores de Mozambique, Namibian Stock Exchange, South Africa’s JSE Ltd, Swaziland Stock Exchange, Zambia’s Lusaka Stock Exchange, and the Zimbabwe Stock Exchange.

Mrs Nkanza, who is also the chief executive of Lusaka Stock Exchange, said the committee was working closely with various Sadc institutions to support development of regional systems, including payment and was expected to boost visibility of trading data and enhance its joint website.

The Dar es Salaam Stock Exchange (winner of The Best Sustainable Stock Exchange of the Year 2011, Africa” by the World Finance ) have joined nine other stock exchanges in the Southern African Development (SADC) to adopt a digital platform. This will hopefully increase productivity and efficiency for smooth functioning and growth of market operations in completing cross border transactions.

Technology is opening doors and is the basis for changes in investor behavior and expectations. Considering the number of companies in Dar es Salaam there aren’t anywhere as many listed on the Dar es Salaam Stock Exchange.

Through meticulous planning and a well thought out implementation of the process, there are numerous benefits to listing your company on the stock exchange. For example, it creates a market for the company’s shares enhancing the status and financial standing of your company.
You increase market exposure, public awareness and interest in the company along with your services and products. It boosts the companies’ corporate profile as there will be an added element of trust and credibility.

 

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STEALING A LEAF FROM THE SUCCESSFUL ECONOMIC DEVELOPMENT IN MALAYSIA

Hon Idris Jala, Minister without Portfolio in the Malaysian Prime Minister’s Department and CEO of the Performance Management and Delivery Unit (PEMANDU) – unit monitoring for implementation of the Key Performance Indicator (KPI) initiative makes a presentation  at the start of a two-day workshop on Tanzania’s implementation, monitoring and evaluation framework of National development plans and programs in Dododma on Friday.

Malaysia has assumed the appearance of developed country and the vision for its development was enunciated, stage by stage. Although Malaysia vision might not suitable for all country. But most Malaysian proved that there were element which might be adopted by all who wished to become developed nation.

We all believed the biggest reason for African government is the failure of the government to look after the need of the people. That is how the government of Tanzania has vision in the development of Nation. This has been known as National Strategy growth and Poverty Reduction. In Malaysia, the greatest need was for jobs, for getting a steady income to support a decent life and they transformed from agriculture to industry. This was because the agriculture did not create enough jobs, but industry did it. When you ask every Malaysian, this it could be the theme, “one hectare of land for agriculture may support one person but it can house a factory of 500 workers”.

That was why Malaysia opted for labor intensive industries once land was no longer available of cultivation. This idea might be difficult to many African countries to believe. We believed in order to be a developed country , the country must have a good infrastructure, an educated and well- trained work force, a large middle class and good technological and industries capacities. The quality of work must improve all the time and aimed at achievements of world standards as benefitting a developed country.

On other hand, any poor country, the development process would take time and vision must be the capacity of the country at any particular period. Most of African leader should know that , the role of a leader was crucial to the success of a vision because without his passion and drive,  even though the country had the means and potential to grow, it would not grow. That why Tanzanian President and others have vision for development is essential, but they understand that there must also be adequate knowledge of how it needed to be implemented for the country to be developed.

Citing China as an example, Mao Tse Tung’s successor, Deng xiao Peng although a communist was a pragmatist and wanted China to develop, making the country what it is today. It is the second biggest economy in the world as compared to 20 years ago when it was a third world country.  Clearly, the leader of a nation plays a very crucial role in the country development . His decision, as how the country should be developed, is of critical importance.

He must have passion for it. He must personally direct the implementation of his vision. He must combined most of his knowledge and skills, plus his cabinet to apply those policies to action( reality ). He should know who is in and out of development process. The leader needed to go on the ground to oversee work being done, to overcome obstacles and constraints and to make sure the projects were properly implemented as visit by the head of government at the site of construction motivated implemented at all levels. The role of responsibility and accountability and love to his nation. His ministers must also be hand on.

At this time, when we look at Malaysia, it is the Malaysia’s persistent drive to develop and upgrade its infrastructure has resulted in one of the most well developed infrastructure among the newly industrializing countries of Asia. The greatest advantage to business in Malaysia has been the nation’s persistent drive to develop and upgrade its infrastructure. Over the years, these investment in electricity, water and infrastructure have paid off and Malaysia now has one of the most well developed in the Asia.

However, Our nation needs a commodity of direction between the president and his cabinet ( ministers) and more concrete and focused investment to achieve the sustainability objectives. In doing this we can build on what we believed of being a developing nation. While, a very complex infrastructure is in place, it needs to be streamlined and strengthened to become more effective. Furthermore, a sustainable future need to be founded upon a strong judiciary system. The full participation of all stakeholders within a frame work of justice, governance and rule of law is needed for any strategy for sustainability to be successful.

Malaysian’s success at overcoming some of their many challenges to date is a tribute to the resolve and determination of the leader in decision of renew policies.

This is how President  Jakaya Mrisho Kikwete was addressing at the opening of a special cabinet retreat on transformation of government Delivery system on 4th August 2012, Dodoma (CLICK HERE), he said, “With regard to Malaysia, her story is even more fascinating. The country has been transformed incredibly from a commodity-based economy focusing on rubber and tin at independence in 1957 to one of the world’s largest producer of electronics and electronically products. They make cars and military hardware including submarines.” In this seminar President invited the Malaysia government officials to come and explain their story of success and for  our nation to learn  from their good examples.
Last, in this seminar, the president completed his speech by saying, ” Perhaps this seminar is a good starting  point that will enable us to develop a forceful follow up mechanism.

“I therefore implore all of you here to be attentive throughout the seminar and learn the new tested approaches of delivering high quality service to citizens and develop a nation”. He added.

Thanks for giving me a chance and reading

God bless Tanzania
 Yacob   Kinyemi
Washington DC

SOURCE : Michuzi Blog

 
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Posted by on August 5, 2012 in International News, Tanzania News

 

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Comparing Landcruiser price with CT scanner is Utter distortation of Fact

 
Since the President of Tanzania Dr.Jakaya Mrisho Kikwete addressed the Nation on 31st July 2012, I have received numerous calls and messages from people asking me, “How much does a CT Scanner cost?”  This is because In his Speech, the President said some people are comparing the price of SUV Landcruiser (shangingi)  to a price of CT scan. He even said jokingly ” Waje Tuwape pesa wakatuletee…Labda waende China”, Well I have one message to Mr. President, ‘even in China, You cannot get a CT for a price of a Landcruiser’.
 
The views am going to write are informed by  my 10 years experience in the Medical Systems Industry-having worked  for Philips Medical Systems and their sole Distributor in Tanzania. I want to share with my readers, and my fellow Tanzanians an insight of what real cost of CT Scan is. As an expert in Finance, I find it prudent to let my readers know what it takes to invest in CT Scan.

What is a CT Scan?

PHILIPS 64 Slice Brilliance CT

X-ray computed tomography, also computed tomography (CT scan) or computed axial tomography (CAT scan), is a medical imaging procedure that utilizes computer-processed X-rays to produce tomographic images or ‘slices’ of specific areas of the body. These cross-sectional images are used for diagnostic and therapeutic purposes in various medical disciplines.

How Much does a CT Scan Cost?  and that is just too broad of a question. It is a little like asking how much a car costs. A Toyota Corolla isn’t going to cost you much… you may be able to just pull it for 5M… but that 2012 Mercedes-Benz C-Class is going to be a touch more expensive.

So in order to make sure you get the CT Scanner you need for the right price you should be ready to answer the following questions:

What types of studies will you be performing?

This will help narrow down on how many Slices per Rotation your scanner will take. For example, if you are performing a lot of Cardiac Studies you should probably buy a 64 Slice CT due to the constant motion of the heart. Whereas Angio and Perfusion studies can often be done effectively with a lower end model  scanners. Answering this question will also determine if you need a unique software option (Cardiac, Fluoro, Perfusion, etc).

Do you prefer a certain manufacturer?

PHILIPS, GE, Siemens, and Toshiba are the 4 big names in CT. If you can only take one of them, you’ve just eliminated 75% of your options. Well i will definately advice you on a Philips CT.

Other Questions Would be; What is your budget? and the size of your medical centre/Hospital.For a hospital like Muhimbili i would suggest a 64 slices and not less  or a 128 Slices if budget allows.

Now i can give you some guidelines for Delivered and Installed pricing on New CT scanners:

  • 16 Slice: $400,000 – $450,000
  • 64 Slice: $800,000 – $900,000
  • 128 Slice: $1,000,000 – $1,200,000
  • 256 Slice: Not less than $1,500,000

Most Companies has  stopped the the manufacturing of 6 Slice scan, unless you get a refurblished one from China.. which will cost about $ 150,000 and above.

Somebody remind me how much does a Brand New SUV Landcruiser cost? Last time I checked it was ranging from USD 60,000 to 80,000….therefore comparing CT Scan and Landcruiser is a satirical gimmick.

 
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Posted by on August 3, 2012 in General Knowledge, Tanzania News

 

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Mkapa: Mkataba wa EPA ni bomu lenye sumu‏

Dar es Salaam

RAIS mstaafu Benjamin Mkapa ameuponda Mkataba wa Pamoja wa Kiuchumi kati ya nchi za Ulaya na Afrika (EPA) kuwa ni bomu lenye sumu na ni mkakati wa mwingine wa nchi tajiri kutaka kupora mali za Bara la Afrika, ikiwamo Tanzania.

Mkapa ameyasema hayo leo wakati anatoa mada kuhusu EPA na athari zake kwa Tanzania katika mkutano ulioandaliwa na Taasisi ya Sekta Binafsi (TPSF) jijini Dar es Salaam, Mkapa aliyeufananisha mkataba huo na kikombe chenye sumu, alisema Tanzania iukatae mkataba huo kwani haina cha kupoteza hata kama itakataa kusaini mkataba huo.

Katika mada yake, Mkapa alisema EPA ni mpango wa pili wa kuipora Afrika na akasema mpango huo ni kama ule wa mwaka 1884 na 1885 uliofanyika huko mjini Berlin nchin Ujerumani ambako mataifa 13 yenye nguvu Ulaya yalijadiliana namna ya kugawana na kupora mali za Bara la Afrika.

“Safari hii wamekuja na mfumo huo kupitia EPA iliyozaliwa huko Brussels. Malengo ya Berlin na yale ya Brussels yanafanana kwani yote ni kwa ajili ya kuendeleza biashara na viwanda vya Ulaya,”alisema Mkapa. Brussels ambao ni mji mkuu wa Ubelgiji, ndio makao makuu ya Umoja wa Ulaya (EU).

Mkapa alisema tofauti iliyopo ni kwamba kwa sasa watu ambao wako huru ndio wanatakiwa kusaini makubaliano hayo ya EPA chini ya kivuli cha demokrasia. “Epa ni kikombe chenye sumu ni lazima tuikatae, Waafrika na rafiki wa Afrika lazima waseme sasa,” alisema.

Alisema baada ya mkataba huo wa Cotonou kumalizika muda wake, EU iliingia EPA nyingine na Jumuiya ya Afrika Mashariki mwaka 2007 na tangu wakati huo hadi sasa, majadiliano ya kuingia kwenye EPA mpya yamekuwa yanaendelea na yameshindwa kupata muafaka kutokana na kuwapo kwa mambo ambayo pande mbili hizo hazikubaliani.

Alisema EU inataka chini ya EPA mpya, nchi za EAC ziingize bidhaa zake barani Ulaya bila kutozwa ushuru na vivyo hivyo nchi za Ulaya zinataka kuingiza bidhaa zake Afrika Mashariki bila kutozwa ushuru. Alisema Umoja wa Ulaya unashikiza mkataba huo mpya utiwe saini haraka kabla ya Januari 2014.

Alisema Tanzania inakabiliwa na uchaguzi wa kusaini au kutosaini mkataba huo mpya ambao kwa sasa unashinikizwa na nchi za Ulaya. Alisema iwapo nchi za Afrika Mashariki zitasaini mkataba huo ni wazi kuwa zitakuwa zimeruhusu asilimia 82.6 ya bidhaa zinazotoka Ulaya ziingie kwao bila kutozwa ushuru.

Alisema kwa Tanzania peke yake takwimu zitaongezeka na kufikia asilimia 90 ya bidhaa kutoka Ulaya zitaingia nchini bila kutozwa ushuru.

“Ni asilimia 10 tu ya bidhaa kutoka Ulaya ambazo zitaingizwa nchini ndizo zitakazotozwa ushuru,” alisema Mkapa na kuongeza kuwa kati ya asilimia hiyo 90, kwa sasa tayari asilimia 23 ya bidhaa zinazotoka Ulaya hazitozwi ushuru na iwapo Tanzania itasaini EPA mpya, itakuwa inaruhusu asilimia nyingine 67 ya bidhaa kutoka barani humo iondolewe ushuru.

Pamoja na ukweli ulio wazi kutokana na maelezo ya raisi Mkapa, Nchi za kiafrika zimekuwa tegemezi kwa nchi zilizoendelea. Je zitaweza kufanya maamuzi yaliyo huru katika mkataba huo? au sababu ya kutegemea misaada kutoka jumuiya ya nchi za ulaya tutalazimika kuingia katika mikataba hiyo mibovu kama wa EPA.

Changia  mawazo yako kwa kutoa  Comment hapo chini. Unadhani Tutaweza kuepukana na hayo?

MJ

 
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Posted by on August 1, 2012 in Tanzania News

 

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TAARIFA KWA UMMA KUHUSU KUSITISHWA KWA FAO LA KUJITOA – SSRA

TAARIFA KWA UMMA KUHUSU KUSITISHWA KWA FAO LA KUJITOA UMMA

Mamlaka ya Usimamizi na Udhibiti wa Sekta ya Hifadhi ya Jamii (SSRA), inapenda kutoa ufafanuzi juu ya mafao ya kujitoa. Ufanunuzi huu unakwenda sambamba na taarifa mbalimbali ambazo zimekuwa zikitolewa na vyombo vya habari na kuleta mkanganyiko miongoni mwa Wanachama na Wadau wa Sekta ya Hifadhi ya Jamii.

Kufuatia hali hiyo, Mamlaka inatoa ufafanuzi ufuatao:

 Marekebisho kuhusu kusitisha fao la kujitoa yamefanyika ili kutimiza lengo na madhumuni ya Hifadhi ya Jamii ambayo ni kuhakikisha kuwa Mwanachama anapostaafu anapata mafao bora yatakayomwezesha kumudu hali ya maisha uzeeni.

 Ni kweli kuwa Sheria za Mifuko ya Hifadhi ya Jamii pamoja na Sheria ya Mamlaka zimefanyiwa marekebisho. Mchakato wa marekebisho hayo ulihusisha wadau kwa kuzingatia utatu yaani wawakilishi kutoka Vyama vya Wafanyakazi, Chama cha waajiri pamoja na Serikali.

 Kwa kutambua tofauti ya ajira, tofauti ya mazingira ya kazi, tofauti ya sababu za ukomo wa ajira, na umuhimu wa Mwanachama kunufaika na michango yake wakati angali katika ajira, Mamlaka inaendelea na mchakato wa kuandaa miongozo na kanuni za mafao ambazo lengo lake ni kuboresha maslahi ya Wanachama. Miongozo na kanuni hizo zitajadiliwa na Wadau wakiwemo Wafanyakazi, Waajiri na Serikali kabla ya kuanza kutumika.

 

 Kufuatia kuanza kutumika kwa Sheria hiyo maombi mapya ya kujitoa yamesitishwa kwa kipindi cha miezi sita hadi pale miongozo itakapotolewa ili kuiwezesha Mamlaka na Mifuko ya Hifadhi ya Jamii kutoa elimu kwa Wadau.

 Tangazo hili halitowahusu Wanachama waonachangia katika Mfuko wa Akiba (GEPF), Mifuko ya Hiari (Supplementary Schemes) zinazoendeshwa na PPF,NSSF na LAPF, pia Wanachama waliojitoa kabla ya tarehe 20/07/2012.

 Mamlaka inakanusha vikali kwamba, sitisho la fao la kujitoa si kwa sababu za Kiserikali au kwa sababu Mifuko imefilisika. Tunapenda kuwahakikishia kwamba Mifuko yote ipo thabiti na michango yote ya Wanachama ipo salama.

 Hivyo, Mamlaka inawaomba Wanachama na Wadau wote wa Sekta ya Hifadhi ya Jamii kuwa na utulivu wakati mchakato huu ukiendelea kwa lengo la kulinda na kutetea maslahi ya Mwanachama.

 Imetolewa na kitengo cha Mawasiliano na Uhamasishaji

SSRA-Makao Makuu

 

 
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Posted by on July 30, 2012 in Tanzania News

 

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Tanzania Monetary Policy Statement – June 2012

Monetary Policy Statement of the Bank of Tanzania for the year 2012/13.

The Statement reviews monetary policy implementation and macroeconomic

developments during 2011/12. It then outlines the monetary policy stance and

measures that the Bank of Tanzania intends to pursue in 2012/13, aimed at

maintaining price stability and ensuring integrity of the financial system, with a

view to promoting high and sustainable economic growth.

Issued by: Prof. Benno J. Ndulu –   GOVERNOR   BANK OF TANZANIA

Click below to Access the Statement:

2012-JUNE-Monetary Policy Statement

 

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Tanzania Banking Sector Performance Review -2011

In may 2012 Ernst &Young published a fifth issue of the Report on Banking Sector Performance and launched it to the Banking Community. The 2011 report comes with a special topic on Mortgage Financing.

Thanks to Joseph Sheffu – EY Country Leader for sharing the report with us.

Summary:

The sector’s Total Assets increased by 16% (26% in 2010, 19% in 2009, 20% in 2008 and 30% in 2007).

The ratio of earning assets to Total Assets decreased to 78.6% (80% in 2010, 79% in 2009, 83% for both 2008 and 2007).

On the Funding Structure side, deposits increased  by 16% (25% in 2010, 24% in 2009, 22% in 2008 and 23% in 2007)

Shareholders’ funds increased by 14% (22% in 2010, 28% in 2009, 25% in 2008 and 48% in 2007).

Paid up capital recorded  an increase of 21% (31% in 2010, 39% in 2009, 15% in 2008 and 44% in 2007).

The Banking Liquidity was by and large satisfactory, with the ratio of liquid assets to deposits at 54%% ( (59% in 2010, 58% in 2009, 54% in 2008 and 65% in 2007.

Click the Link below to Read the Full Report.

2011 Tanzania Banking Sector Performance Review Final

Courtesy of: Ernst & Young

 

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Exchange Rate: Tanzania Shilling Vs. US Dollar – as of JULY 2012

USDTZS – Tanzania Shilling Exchange rate

The USDTZS spot exchange rate appreciated 5.0000 or 0.32 percent during the last 30 days. Historically, from 2009 until 2012, the USDTZS averaged 1476.3800  reaching an all time high of 1813.5000  in October of 2011  and a record low of 1277.9000  in June of 2009. The USDTZS spot exchange rate specifies how much one currency, the USD, is currently worth in terms of the other, the TZS. While the USDTZS spot exchange rate is quoted and exchanged in the same day, the USDTZS forward rate is quoted today but for delivery and payment on a specific future date. This page includes a chart with historical data for USDTZS – Tanzania Shilling Exchange rate.

SOURCE:http://www.tradingeconomics.com/

 

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Kutoka Bungeni: Serikali yatumia mil 361.1/- kutunza kiwanda kilichofungwa‏

Dodoma

SERIKALI imetumia Sh 361,105,009 hadi sasa kwa ajili ya kutunza kiwanda cha Kutengeneza vipuri cha Kilimanjaro (KMTC) na watumishi sita waliobaki tangu kilipofungwa.

Akijibu swali la Mbunge wa Hai, Freeman Mbowe (Chadema) leo bungeni,Naibu Waziri wa Viwanda na Biashara, Gregory Teu amesema, serikali hadi sasa imetumia kiasi hicho cha fedha na kwamba Serikali inaendelea kuliweka jengo na mazingira yake katika hali nzuri na ya kuvutia wawekezaji.

Amesema, mwaka 2008, Shirika la Maendeleo la Taifa (NDC) lilipokabidhiwa kiwanda walikuwepo watumishi wanane na sasa wapo watumishi sita.

Thamani ya kiwanda kwa sasa ni Sh 11, 491, 133,000. Tathmini inaonesha thamani ya mashine na mitambo ni Sh 3, 279, 133, 000, majengo Sh 5, 162, 000, 000 na ardhi Sh 3,050,000,000.

Amesema, kiwanda kwa sasa ni muhimu kwa maendeleo ya sekta ya viwanda na sekta nyingine za kiuchumi nchini na kuwa Serikali inaendelea kukiweka kiwanda katika hali nzuri, ikiwa ni pamoja na kufanya ukarabati wa majengo ya kiwanda.

Amesema, kwa sasa ukarabati unafanyika kwa awamu na kuwa awamu ya kwanza ya kukarabati majengo ya utawala imekamilika na awamu ya pili itakayohusisha majengo ya karakana yenye mashine na mitambo mingine itafanyika mara fedha zitakapopatikana.

“Mashine na mitambo ya kiwanda hiki ziko katika hali nzuri kwani wafanyakazi wachache waliopo wameendelea kuhakikisha mashine zinafanyiwa uangalizi wa kiufundi wa mara kwa mara,” amesema.

Katika swali lake la msingi, Mbowe alihoji kiwanda hicho ambacho zamani kilikuwa kinazalisha vipuri na kimefungwa muda mrefu, Serikali imetumia kiasi gani cha fedha na watumishi kukitunza tangu kilipofungwa na akataka kufahamu mpango wa Serikali kuzuia uchakavu na upoteaji wa kiwanda hicho na mazingira yake.

 
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Posted by on July 23, 2012 in Tanzania News

 

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Kutoka Bungeni: Wabunge wataka Mkurugenzi Bodi ya Pamba atimuliwe‏

Dodoma

WABUNGE wa mikoa inayolimwa pamba, wameitaka Serikali kuhakikisha inamchukulia hatua na kumfukuza kazi Mkurugenzi wa Bodi ya Pamba kwa madai kuwa ni dikteta, mbinafsi na anachangia kudhoofisha maendeleo ya sekta ya pamba nchini.

Baadhi ya wabunge pia wamelalamikia kiwango kidogo cha bajeti ya Wizara ya Kilimo, Chakula na Ushirika kilichoombwa pamoja na jumla ya Sh bilioni 52 za bajeti hiyo kwa miradi ya maendeleo kutegemea wafadhili na kuhoji kama dhana ya Kilimo Kwanza inaweza kutekelezwa.

Wabunge hao walikuwa wanachangia hotuba ya Makadirio ya Matumizi ya Wizara ya Kilimo, Chakula na Ushirika kwa mwaka 2012/13 iliyowasilishwa wiki jana na Waziri wa Wizara hiyo, Christopher Chiza, bungeni mjini hapa.

Mbunge wa wa Kahama, James Lembeli (CCM), amesema ,anashangaa kuona bado Mkurugenzi wa Bodi ya Pamba bado yupo kazini wakati ameshindwa kutekeleza kazi anazowajibika kufanya.

“Mimi nashangaa kwanini mtu huyu anayetusababishia sisi machungu bado yupo, kwa kashfa alizonazo, alipaswa kuwa ameshaondoka, kwa nini Serikali hadi sasa inamlinda, siungi mkono hoja hadi nitakapopata majibu,” amesema Lembeli.

Mbunge wa Bariadi Mashariki, John Cheyo (UDP), ameilaumu wizara hiyo kuwa imeshindwa kuwakumbuka na kuwasaidia wakulima wa pamba wanaokadiriwa kufikia milioni 16 nchini kutokana na matatizo mengi yanayowakabili.

Alisema wakulima wa pamba wamekuwa wakikandamizwa na wafanyabiashara wa zao hilo, ambao wananunua pamba kwa bei ya chini, akitolea mfano kuwa kilo moja ya pamba imekuwa ikiuzwa Sh 600 wakati uzalishaji wa zao hilo kwa kilo moja kwa mkulima gharama yake ni zaidi ya Sh 800.

“Kama Serikali haitachukua hatua juu ya jambo hili, tupo tayari kuongozana na wakulima kwenda mahakamani kushitaki wafanyabiashara wote walioingia mkataba na Serikali na kuhamasisha pamba kununuliwa kwa bei ya chini, na kwa hili kwa mara ya kwanza siungi mkono hoja,” alisema Cheyo.

Mbunge wa Busega, Dk Titus Kamani (CCM), alisema matatizo mengi yanayowakabili wakulima wa pamba yanasababishwa na Mkurugenzi wa Bodi ya Pamba kwa kuwa ni dikteta na mtu hatari anayeweka masharti ili wanunuzi wengi wasiingie kwenye soko la pamba.

Akitoa hoja ya wabunge wanaolima zao hilo, Mbunge wa Kisesa, Luhaga Mpina (CCM), alisema wabunge wote wa maeneo yanayolimwa zao hilo, hawakubaliani na bei ya zao hilo ilivyo chini ya Sh 660 na kuitaka Serikali itafute namna ya kufidia pengo hilo ili wakulima wauze pamba kwa Sh 1,000 kwa kilo.

Akihitimisha hoja hiyo, Waziri  Chiza, alikiri kutambua matatizo ya wakulima wa pamba na changamoto wanazokabiliana nazo kwa kuwa hata yeye ni mmoja wa wakulima wa zao hilo.

Aliwataka wabunge kumpa muda ili aweze kushughulikia changamoto hizo kwa kuwa tangu ateuliwe ni miezi miwili tu imepita.

 
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Posted by on July 23, 2012 in Tanzania News

 

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Excerpts of Budget 2012/2013

Excerpts of Budget 2012/2013

Tanzania Budget Speech 2012/2013

 

World EconomyAccording to International Monetary Fund, the world economy grew by 3.9 percent in 2011, compared to 5.3 percent in 2010. the low growth was due to the economic crisis in the Euro area caused by financial fragilities, particularly, losses in the banking sector, rising fiscal deficits and instabilities in the Arab countries.

Africa’s economic growth slowed down to 2.7 percent in 2011 compare to 4.6 percent in 2010, mainly due to political unrest in the North African countries. Growth in the Sub-Sahara  African countries slowed to 5.1 percent in 2011 compared to 5.3 in 2010.

 

 

 

National Economy

The real GDP grew by 6.4 percent in 2011 compared to 7.0 percent in 2010. The slowdown in growth is largely attributed to drought conditions in some parts of the country which adversely affected agricultural production. Electricity outage contributed to low performance in manufacturing and other economic activities that rely on electricity. Despite the slowdown in overall growth, communication, financial intermediation, construction and education sub-sector recorded higher growth rates ranging between 6 percent and 19 percent.

The growth rate of the agriculture sector, which employs about 75 percent of the labour force declined from 4.2 percent in 2010 to 3.6 percent in 2011, whereas population growth rate continued to be high at 2.9 percent.

In the 2011 the GDP was Tshs 37.5 trillion at current prices. With an estimated population 0f 43.2 million people for Mainland Tanzania in 2010 and 44.5 million people in 2011 per capita income for 2011 was Tshs 869,437.3 compared to Tshs 770,464.3 in 2010 equivalent to an increase of 12.8 percent in per capita income.

The annual average inflation rate rose from 5.5 percent in 2010 to 12.7 percent in 2011.

The annual inflation rate which excludes food and energy for the year ended April 2012 rose to 9.0 percent compared to 5.7 percent in April 2011. This is attributed to the rise in the price of oil, transport costs and imported inflation from the trading partners particularly China and India. The annual inflation rate for food increased to 24 percent in the year ended April 2012 compared to 9.2 percent in year ended April 2011. The annual inflation rate for energy increased from 22.1 percent registered in year ended April 2011 to 24.9 percent in April 2012.

Overall the average lending rate charged by commercial banks decreased slightly to 14.21 percent in December 2011 from 14.92 percent in December 2010.

Exchange rates

The value of the Tanzanian shillings in 2011 declined by 10.3 percent to an average of Tshs 1,579.5 per US Dollar compare to Tshs 1,432.3 in 2010. At the end of December 2011, the exchange rate was Tshs 1,587.6 compared to Tshs 1,469.9 in December 2010.

By March 2012 the exchange rate stood at Tshs 1,588 to 1 US Dollar.

Foreign Direct Investment

In 2011, the value of  Foreign Direct Investment increased by 97 percent to USD 854.2 million compared to USD 433.9 million in 2010. This increase was attributed to large investments on exploration of gas in Mtwara and Coast Regions amounting to more than USD 300 million. Sectors that received large number of foreign investment projects were manufacturing, tourism, commercial building and transport.

Population

Based on the Population and Housing Census of 2002, the population of Tanzania in 2011 was estimated at 44.5 million as compared to 43.2 million in 2010.

Electricity

As for electricity projects, resources have been allocated for construction of natural gas pipeline (Mtwara – Dar es Salaam) and power generation plants at Kinyerezi (150 MW & 240 MW). In terms of transmission, funds have be allocated for the construction and  strengthening of transmission  lines (220kV North – West Grid, 400kV Iringa – Shinyanga and 132kV Makambako – Songea). in addition, resources have been allocated for promoting rural electrification.

Revenue

During the period of July 2011 – March 2012, total domestic revenue collections (including collections from LGAs) amounted to Tshs5,180.6 billion, equivalent to 98 percent of estimates of Tshs 5,217.2 billion for the period. Out of that, tax revenue collections amounted to Tshs 4,765.5 billion, equivalent to 104 percent of estimates of Tshs 4,585.5 billion for the period. The increase in Tax revenue collections was a result of administrative taken by Tanzania Revenue Authority.

During the period July 011 – March 2012, non-tax revenue collections reached Tshs 272.1 billion equivalent to 57 percent of estimates of collecting Tshs 473.5 billion. Collection by LGAs amounted to Tshs 143 billon, equivalent to 60 percent of estimated of Tshs 237.8 billion for the period. The underperformance of non tax revenue was due to low contribution of executive agencies, regulatory authorities and institutions to the Consolidated Fund. The Government intends to review non-tax collection by the Ministries, Departments and Agencies in order to improve collection o this important source of revenue.

Expenditure

Government expenditure for 2010/11 amounted to Tshs 9,439.4 billion, equivalent to 87.0 percent of estimates. Total expenditure for the first three quarters of 2011/12 (up to March 2012) was Tshs 8.676.8 billion, equivalent to 97.5 percent of the period estimates of Tshs 8,895.8 billion.

National Debt

The national debt stock increased to Tshs 20,276.6 billion during the period ending March 2012 from Tshs 17,578.9 billion during the corresponding period in 2011, equivalent to an increase of 15.4 percent. Out of that, Tshs 15,306.9 billion was external debt, of which Tshs 12,342.5 billion was public debt and the remaining amount was private debt. As of March 2012, domestic debt amounted to Tshs 4,969.7 billion compared to Tshs 4,496.5 billion.

Macroeconomic targets and assumptions for 2012/2013

Attain real GDP growth of 6.8 percent in 2012 and continue to grow persistently to 8.5, by 2016.

  • Reduce inflation and maintain it at single digit in the medium term.
  • Increase domestic revenue collection as a ratio of GDP to 18.0 percent in 2012/13 from the likely outturn of 16.9 percent in June 2012.
  • Contain the growth of M3 to the tune of 18.0 (percent by June 2013 consistent with GDP growth and inflation targets.
  • Maintain official foreign reserves sufficient to cover a minimum of 4.5 months’ worth of imports of goods and non-factor services.
  • The ratio of export of goods to GDP in 2011/12 is projected at 23.1 percent and further up to 24.3 percent of GDP in 2012/13.
  • Reduce interest rate spread.
  • The growth of credit to the private sector is projected at 20.0 percent by June 2013.
  • Maintain a market determined exchange rate

Key national strategic investment projects

Major strategic projects that will be implemented include construction of the Kurasini Logistical/Trade Hub and strengthening the Central Railway Line. In additional, funds have been allocated for finalising a feasibility study of railway construction in strategic area namely Mtwara-Mbamba Bay/Mchuchuma and Liganga railway line, Dar Es Salaam-Isaka-Kigala-Keza/Geita-Msongati railway line and the Tanga (Mwambani)-Arusha-Musoma railway line.

As for electricity project, resources have been allocated for construction of natural gas pipeline (Mtwara- Dar es Salaam) and power generation plants at Kinyerezi (150 MW & 240 MW). In terms of transmission, funds have been allocated for the construction and strengthening of transmission line (220kV North-West Grid, 400kV Iringa-Shinyanga and 132kV Makambako-Songea). In additional, resources have been allocated for promoting rural electrification.

For the road sector, strategic projects include construction of roads which open up economic opportunities, link Tanzania with neighboring countries and reduce traffic congestion in cities as well as construction of bridge and ferries.

With regard to agriculture and industry, projects that will be implemented include cultivation of sugarcane and paddy in Wami, Ruvu, Kagera, Kilombero and Malagalasi basins, projects under SAGCOT, ASDP and other irrigation projects. Projects in industry will include Mchuchuma coal and Liganga iron ore, completion of Biolarvicide Plant at Kibaha, Soda ash in the Engaruka Basin and development of Special Economic Zones and Export processing Zones (SEZs and EPZs).

Other Projects

Priority projects in the education sector will include construction of lecture rooms, libraries and hostels at Dar es salaam, Sokoine, Dodoma, mzumbe and Ardhi Universities, MUCCOBS, DUCE and MUCE, development of vocational education training colleges (VETA), construction of Muhimbili University campus at Mlonganzila, facilitating implementation of Secondary Education Development Programme (SEDP), rehabilitation of infrastructure in five teachers’ training colleges and rehabilitation of Dodoma regional library. Further, the Government will provide for training in specialized fields namely gas and oil, and uranium.

In the health sector, programmes and projects that will be implemented include, the health sector management plan, facilitation of reduction of maternal mortality, construction and rehabilitation of health facilities including Muhimbili National Hospital, Ocean Road Cancer Institute, Cardiac centre at Muhimbili National Hospital and rehabilitationof Mtwara, Lindi and Mara regional hospitals.

For livestock and fisheries, priority programmes and projects in2012/13 will include continued implementation of ASDP, establishment of livestock identification and traceability framework and implementation of environmental management for marine organisms in coastal areas.

For forests and wildlife, projects that will be implemented include promotion of investment in value-addition for bee-keeping products, wildlife and forests products and building institutional capacity for management of carbon emission.

For energy and minerals, projects that will be implemented are construction of the regional mining offices at Mtwara, Dodoma, Geita and Arusha, construction of the Tanzania Mineral Audit Agency, Rural Electrification Agency offices and strengthening of exploration and mining research institution.

Forelands, housing and human settlement, projects that will be implemented include development of Kigamboni Satellite City, whereby Government will compensate land and properties and establishment of the land bank for agricultural activities particularly food production.

For air and marine transport, projects that will be implemented include rehabilitation of Kigoma, Mafia, Tabora, Songwe, Mpanda, Arusha and Bukoba airports, development of berth number eight on Lake Tanganyika and maintenance of Government aircrafts. Moreover, in the area of weather forecasting, activities that will be implemented include purchase of equipment and radar for the Tanzania Meteorological Agency and provision of modern equipment to the meteorological information centres.

For technology and innovation development, projects that will be implemented include promotion and innovation of farm implements through strengthening of the Centre for Agriculture Mechanisation and Rural Technology (CAMARTEC) and strengthening capacity of Tanzania Industrial Research development Organization (TIRDO) for quality and standards of products needed in the market.

With the regards to good governance, activities that will be implemented in 2012/13 include provision of infrastructure and working facilities for the Ethics Secretariat and PCCB, building legal sector professional capacity and improving the working environment and procurement of facilities for institutions of maintaining law and order.

The Government will continue to register Tanzania citizens and enable them to acquire national identity cards.

In relation to labor and employment in 2012/13 more support will be given to micro credit schemes to better enable them to advance soft loans to youth, women and special groups and so foster opportunity for self employment.

SOURCE: Tanzania 2012/2013 Budget Speech –   Related Link

 

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Kutoka Bungeni: Serikali kufuatilia upatikanaji sukari‏

Dodoma

SERIKALI imesema kuanzia sasa itafuatilia mwenendo wa upatikanaji wa sukari yote inayozalishwa na inayongzwa nchini mpaka kwa mlaji.
Akiwasilisha bungeni makadirio ya mapato na matumizi ya fedha ya Wizara ya Kilimo, Chakula na Ushirika, Waziri wa Wizara hiyo Christopher Chiza amesema, hadi tarehe 23 mwezi uliopita bei ya rejareja ya sukari katika mikoa yote nchini ilikuwa ni kati ya shilingi 1, 900 na 2,500 kwa kilo.
“Hali hiyo kwa kiasi kikubwa ilichangiwa na upungufu wa suka katika nchi jirani, kukosekana kwa uaminifu wa wafanyabiashara na mfumo wa udhibiti na usambazaji,” amesema Chiza bungeni leo( Ijumaa) mjini Dodoma.
Waziri Chiza amesema, hadi tarehe 31 Mei, 2012 jumla ya tani 155,972 za sukari ziliingizwa nchini na kwamba hadi tarehe 23 mwezi uliopita tani 29,960 zilikuwa bandarini ambapo pamoja na jitihada hizo bei ya sukari imeendelea kuwa juu.
“Katika mwaka 2012/ 2013 uzalishaji wa suka unatarajiwa kuwa tani 300,906. Kiasi hicho cha sukari pamoja na albaki ya tani 82,911 zilizokwenye maghala ya wafanyabiashara na viwanda kinatarajiwa kukidhi mahitaji ya sukari ambayo ni tani 378,000 kwa mwaka,”alisema.
Amesema, kwa kuwa nchi inazungukwa na nchi zenye upungufu  wa sukari, sukari inayotarajiwa kuwepo inaweza isitosheleze mahitaji. Kutokana na hali hiyo, wizara itaendelea kufuatilia kwa karibu upatikanaji wa sukari nchini na kama upungufu utajitokeza, serikali itaruhusu uagizaji sukari kutoka nje nchi.
Kuhusu kilimo cha wakulima wadogo ambacho ni cha kujikimu, Waziri Chiza alisema ili kukibadilisha kilimo hicho kuwa cha kisasa na cha kibiashara ushiriki wa wakulima wakubwa na wa kati wenye mitaji, tekenolojia na ubunifu ni muhimu ili wakulima wadogo waweze kunufaika na ubia utakaotokana na ushirikiano huo.
“Hivyo ushiriki wa wakulima wakubwa na wakati hauna lengo la kuwafanya wakulima wakubwa kuwa mbadala wa wakulima wadogo. Lengo ni kujenga uhusiano kati ya wakulima wakubwa, wa kati na wadogo katika kutumia fursa zilizopo ili kuongeza ufanisi katika uzalishaji wa mazao na upatikanaji wa masoko,” alisema Chiza.
Waziri huyo wa Kilimo, Chakula na Ushirika alisisitiza kuwa katika ubia huo wakulima wadogo hawatanyang’anywa mashamba yao ili kuwapa wakulima wakubwa.

Wizara ya Kilimo, Chakula na Ushirika imeliomba bunge liidhinishe Shilingi 237,624,575, 000/=

 
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Posted by on July 21, 2012 in Tanzania News

 

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Kutoka Bungeni: Hakuna sera ya kuzuia kuuza mazao nje ya nchi‏

Dodoma

SERIKALI leo imelieleza Bunge kuwa haina sera ya kudumu ya kuwazuia wakulima kuuza mazao yao nje ya nchi.

Waziri wa Nchi, Ofisi ya Rais, Uhusiano na Uratibu, Stephen Wasira, ametoa msimamo huo wakati anajibu swali la Mbunge wa Peramiho, Jenister Mhagama (CCM).

Mhagama alitaka kufahamu ni lini serikali itajenga soko kubwa la kimataifa katika mpaka wa Tanzania na Msumbiji ili kuuza mazao yao kwa bei nzuri.

Wasira amesema, serikali haioni ubaya kwa mpango wa kujenga soko la kimataifa la mazao katika mpaka wa Tanzania na Msumbiji kutokana na uhusiano mzuri uliopo baina ya nchi hizo mbili hatua ambayo alisema itawanufaisha wakulima.

Amesema, hata hivyo serikali inaowajibu wa kuhamasisha wakulima kuongeza juhudi katika uzalishaji wa chakula ili kuiwezesha nchi kuwa na ziada ya chakula hatua itakayowezesha wakulima kuruhusiwa kuuza chakula nje.

“Serikali haina sera ya kudumu ya kuwazuia wakulima kuuza chakula nje. Hatua hii huchukuliwa pale inapotokea kuwa nchi inakuwa na uhaba mkubwa wa chakula na hivyo kutishia uwezekano wa kuzuka kwa baa la njaa.

“Kama uzalishaji utaongezeka bila shaka tutakuwa na kiasi kikubwa sana cha chakula na hivyo tutaweza kuuza chakula hicho kwa nchi za jirani ambazo zinatutegemea sana katika kuwapatia chakula kutokana na Tanzania kuwa na eneo kubwa la ardhi linalofaa kwa kilimo,” alisema Wasira.

Alisema ili kuongeza uzalishaji, utoaji wa elimu bora ya kilimo cha kisasa, utumiaji wa mbegu bora za kisasa pamoja na utumiaji wa zana bora za kilimo cha kisasa ni baadhi tu ya maeneo yanayoongeza uzalishaji ikiwa ni pamoja na kuimarisha na kuboresha hifadhi ya chakula.

 
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Posted by on July 20, 2012 in Tanzania News

 

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Tanzania kujifunza uzalishaji makaa ya mawe kwa Liberia‏

Arusha

NCHI ya Liberia na Tanzania zimekubaliana kuongeza ushirikiana katika masula ya kiuchumi na kijamii, ambapo kwa Tanzania imeonesha nia ya kujifunza  uzalishaji wa makaa ya mawe na zao la mpira kutoka nchi hiyo.

Hayo yalisemwa jana na Naibu Waziri wa Mambo ya Nje na Ushirikiano wa Kimataifa,  Mahadhi Maalim, wakati alipokuwa akisoma taarifa fupi ya kumuaga Rais wa Liberia, Ellen Johnson Sirleaf, muda mfupi kabla ya kupanda ndege kwenye Uwanja wa Kimataifa wa Kilimanjaro (KIA), kurejea nchini kwake, baada ya kuhitimisha ziara ya siku tatu nchini.

Rais wa Liberia, Ellen Johnson-Sirleaf akikagua gwaride la heshima la kikosi cha Jeshi la Wananchi Tanzania (JWTZ) PHOTO CREDIT: WAVUTI.COM BLOG

Alisema kuwa Liberia pia imeeleza hisia zake za kutaka kujifunza uzalishaji wa kahawa na mambo ya viwanda vya uvuvi nchini.

Mbali na masuala hayo, walizungumzia kuhusu amani na mshikamano katika nchi za Afrika, hasa katika nchi za Jamhuri ya Kidemokrasia ya Kongo, Guinea Bissau, Mali na Somali, pamoja na kutafuta jinsi ya kutatua matatizo ya nchi hizo.

Aidha alisema Rais Ellen  akiwa ziarani nchini, Julai 18, aliitisha mkutano  Chuo Kikuu cha Dar es Salaam, na kuzungumzia kupambana na malaria na umuhimu wa wanawake katika kuendeleza Afrika.

Baada ya kutembelea Chuo Kikuu cha Dar es Salaam, Julai 19 alitembelea Arusha katika kiwanda cha A to Z kuangalia uzalishaji wa vyandarua vyenye dawa ya kuua mbu, kwa lengo la kutokomeza malaria na pia alitembelea maabara ya utafiti wa magonjwa ya binadamu na mazao.

Hata hivyo baada ya ziara hiyo Rais huyo alimwalika Rais Jakaya Kikwete, kutembelea Liberia, ambapo Rais Kikwete aliupokea kwa furaha na kuahidi kuwasiliana kwa njia ya mtandao wao wa umma.

 
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Posted by on July 20, 2012 in Tanzania News

 

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Naibu Waziri wa Viwanda na Biashara Gregory teu Awataka Watanzania Kuchangamkia Fursa China

Beijing

NAIBU Waziri wa Viwanda na Biashara, Gregory Teu amewataka Watanzania waache kulalamika, wachangamkie fursa za biashara zilizoko China.

Teu ametoa mwito huo leo (Ijumaa) kwenye Ubalozi wa Tanzania mjini Beijing, China, wakati anazungumza na wafanyabiashara, wakuu wa baadhi ya taasisi na mashirika ya umma na binafsi, waliokuwa wakishiriki Mkutano wa Tano wa Mawaziri wa Ushirikiano kati ya China na Tanzania  (FOCAC) uliomalizika jana.

Naibu Waziri amesema, China ni moja ya nchi zenye fursa nyingi za kufanya biashara na mataifa mbalimbali ikiwamo Tanzania, hivyo ni vyema kutumia fursa hiyo.

“Kwangu mimi, ningependa kuacha na mambo ya changamoto, changamoto, badala yake tutumie fursa. Tuache kulalamika, tuzamie huko,” amesema Teu.

Amesema, Balozi wa Tanzania katika Jamhuri ya Watu wa China, Philip Marmo, amekaa Beijing kwa miezi miwili tu, lakini amefanya kazi nzuri sana.

“Lazima muitumie fursa hii ambayo Balozi ameijenga hapa, tuzitumie ili tukasaidie nyumbani, itatusaidia sana, tuwe wazalendo,” amesema Teu.

Amewataka watendaji hao na wafanyabiashara kutumia fursa hizo kwa manufaa ya vizazi vijavyo badala ya kuangalia wao wenyewe.

Mkutano huo nyumbani kwa Balozi Marmo pia ulihudhuriwa na Waziri wa Mambo ya Nje na Ushirikiano wa Kimataifa, Bernard Membe; na makatibu wakuu, Balozi Herbert Mtango (Ujenzi) na John Haule (Mambo ya Nje).

Waziri Membe pia alisisitiza suala la Watanzania kuchangamkia fursa zilizopo China na kutafuta masoko ya bidhaa zao na pia kuwataka wasindike bidhaa zao, badala ya kuuza zikiwa ghafi.

 
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Posted by on July 20, 2012 in Tanzania News

 

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Mkurugenzi Mtendaji wa NBC Ndg. Lawrence Mafuru Asimamishwa Kazi

 
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Posted by on July 20, 2012 in Tanzania News

 

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China kusaidia Afrika dola za Marekani bil. 20‏

Beijing

Bernard Membe – Waziri wa Mambo ya Nje na Ushirikiano wa Kimataifa

SERIKALI ya Jamhuri ya Watu wa China, imetangaza kutoa msaada wa Dola za Marekani bilioni 20 kwa ajili ya kusaidia nchi za Afrika katika miaka mitatu ijayo.

Fedha hizo kwa mujibu wa Rais Hu Jintao, zitakwenda kusaidia maeneo ya kilimo, miundombinu, uzalishaji bidhaa na wajasiriamali wa kati na wadogo.

Rais Hu alitangaza msaada huo jana mjini hapa wakati akifungua Mkutano wa Tano wa Mawaziri wa Ushirikiano kati ya China na Afrika (FOCAC), unaofanyika kwa siku mbili.

 

Waziri wa Mambo ya Nje na Ushirikiano wa Kimataifa, Bernard Membe na Naibu Waziri wa Viwanda na Biashara, Gregory Teu wanaiwakilisha Tanzania katika mkutano huu.  Baloziwa Tanzania nchini China, Philip Marmo pia alihudhuria ufunguzi huo.

Rais Hu alisema China itaendelea kuongeza misaada yake kwa Afrika ili kuleta maendeleo kwa watu wa Afrika. “China itajenga vituo vingi vya kisasa vya mfano vya teknolojia ya kilimo ili kuisaidia Afrika katika kuongeza uzalishaji wa chakula.

“China itatekeleza Programu ya Vipaji vya Kiafrika kwa kuwafunza maofisa 30,000 wa Afrika katika sekta mbalimbali, kutoa udhamini wa masomo kwa maofisa wa Serikali 18,000 na kujenga vituo vya utamaduni na vyuo vya ufundi katika nchi mbalimbali za Afrika,” alisema Rais Hu.

Alisema kuwa China itapeleka Afrika wataalamu 1,500 wa afya katika nchi za Afrika, huku pia ikizisaidia nchi za Afrika katika miundombinu ya hali ya hewa na uhifadhi wa misitu.

Kwa mujibu wa Rais Hu, eneo jingine ambalo China itatilia mkazo ni ushirikiano kati ya nchi za Afrika na katika hili, itasaidia kuboresha miundombinu ili kusaidia watu wa vijijini

pamoja na kusaidia viwanda na udhibiti wa forodha kwa bidhaa zinazoingia Afrika.

“Kutakuwa pia na ushirikiano wa pamoja kati ya watu wa China na Afrika ili wanufaike na ushirikiano huu. Tutaanzisha vituo vya habari kwa ajili ya kubadilishana uzoefu na kujenga uhusiano katika tamaduni zetu.

“Pia kutakuwa na programu za pamoja za utafiti 100 zitakazohusisha wanazuoni,” alisema Rais Hun na kushangiliwa na viongozi mbalimbali wakiwamo marais sita wa Afrika wakiongozwa na Mwenyekiti wa Umoja wa Afrika, Rais Yaya Boyi wa Benin.

Alilitaja eneo jingine ambalo China italitilia mkazo ni kuimarisha ushirikiano na AU na nchi za Afrika katika suala la amani na usalama na kutoa msaada wa kifedha kwa vikosi vya kulinda amani Afrika na kuboresha Jeshi la Akiba la Afrika na kuwafunza maofisa wengi zaidi kuhusu amani na usalama.

Alisema China inaamini maeneo ambayo yanapaswa kutiliwa mkazo ni miundombinu, kilimo, fedha, utengenezaji bidhaa, teknolojia na biashara.

Afrika ndio eneo ambalo China ina uwekezaji mkubwa kwa sasa duniani, ambapo mwaka jana pekee, nchi za Afrika na China zilifanya biashara ya Dola za Marekani bilioni 163.3.

Aidha, uwekezaji wa moja kwa moja wa China kwa Afrika mwaka jana ulikuwa Dola za Marekani bilioni 15 katika nchi 50 za bara hili ambalo kwa pamoja na China, lina idadi ya watu ambayo ni theluthi moja ya idadi ya watu wote duniani kwa sasa.

Ushirikiano kati ya China na Afrika ulianzishwa rasmi mwaka 2000, na umekuwa ukiimarika na Afrika imekuwa ikijivunia kupata misaada mingi kutoka kwa mshirika wake huyo mpya wa maendeleo siku za karibuni.

Akizungumza katika ufunguzi huo, Rais Jacob Zuma wa Afrika Kusini ambayo nchi yake imepokea kiti cha uenyekiti wenza kutoka kwa Misri, alisema ushirikiano wao huo na China ni tofauti na ule wa nchi za Ulaya.

Hata hivyo, alisema pamoja na ushirikiano huo kuzaa matunda mengi na Afrika kufaidika, bado bara hili linakabiliwa na changamoto za miundombinu, teknolojia ya mawasiliano na nishati.

 

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