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Tanzania: DSE Indices improve as share prices gain |
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Friday, 20 August 2010 08:58 |
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? Foreign-investor participation on spectacular rise
MNAKU MBANI
THINGS are picking up at Tanzania's nascent stocks and shares trading centre, the Dar es Salaam Stock Exchange (DSE). Coming barely a year after the worst of the global financial crisis begun to recede, this is proving to be encouraging news indeed for the country in general – and investors and the economy in particular.
All in all, statistics recorded at the Exchange improved significantly during the Second Quarter that ended on June 30, 2010, compared with the position in the preceding January-March Quarter.
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Tanzania: central bank to establish extent of dollarization |
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Friday, 20 August 2010 08:56 |
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YAKOBE CHIWAMBO
THE relevant authorities in Tanzania are setting out to establish how deeply the mammon known as `dollarization` has penetrated the country's the markets – and why. The first reason that usually comes to mind is the possibility that this has become the case mainly due to the relentlessly weakening Tanzania currency the shilling, against the US dollar and other hard currencies.
Speaking at a breakfast meeting staged in the nations commercial capital Dar es Salaam last Friday, the Governor of the central Bank of Tanzania, Professor Benno Ndulu, said a team of experts was already in the field to establish the intensity of dollarization.
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India's SREI Info set to close tower deal in Tanzania |
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Friday, 20 August 2010 08:46 |
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TIMES CORRESPONDENT
INDIA-based SREI Infrastructure’s telecoms subsidiary, Srei Infocom, is close to buying around 60 per cent stake in Luxembourg-based Millicom’s tower assets in Tanzania for around Rs400 crore.
Millicom is a Nasdaq-listed telecom services provider (known for brand Tigo across Europe and the US) in countries spanning across Africa and the US.
Millicom’s Tanzanian arm has around 1,100 towers under its fold, in which it is offloading a majority stake.
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Banks remain wary over lending despite end of global financial crisis |
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Friday, 20 August 2010 08:54 |
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TIMES REPORTER
BANKS in Tanzania have remained extremely wary over increasing lending to the private sector. This is despite mounting evidence that the latest global financial crisis and economic slowdown resulting therefrom is virtually behind the backs of most world finance source countries.
This rather unfortunate state of affairs was revealed in a recent report by the central Bank of Tanzania (BoT) which indicated that, despite the end of the global financial crisis, the flow of credit to the private sector in the country was even lower – and with a number of local banks putting in place even tougher conditions for borrowers.
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Tanzania: banking sector records 32bn/- profit in Q2-2010 |
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Friday, 13 August 2010 11:03 |
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? New capital requirement a challenge to small banks
? Some banks raise lending rates on the sly to 30pc
MNAKU MBANI
THE banking industry in Tanzania has continued to cruise relatively safely in otherwise stormy global economic weather, with published financial reports for the quarter which ended on June 30, 2010 showing strong positive growth compared with the same quarter last year.
The financial results of about 20 national and community banks which were obtained by Business Times this week show that they made a total of Tsh32 billion in profits-after-income-tax during the Second Quarter of 2010. This is clearly higher than the combined profit of Tsh25 billion they recorded in same Quarter in 2009.
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