CTI: Tanzania needs industrial bank to address capital woes

The Confederation of Tanzania Industries (CTI) has asked the next government to improve the conditions that will lead to an enhanced industrial sector in the country.

Those drafting this year’s budget have been asked to have in mind the Implementation of the National Economic Empowerment Policy of 2004 and its Act, which would enable a better business environment for the private sector – touted as the engine for economic growth - to operate.

NIC Bank Tanzania will benefit from Tzs 8.5 Billion of additional capital from the Bank’s shareholders. The funds will be disseminated in two tranches of Tzs 5.8B with the injection of additional capital from NIC Bank Kenya already done in December 2013, with the Tzs 2.7B balance from the other local shareholders of NIC Bank Tanzania expected within a period of 6 months but no later than June 2014.

“A growing financial need in this market has required that NIC Bank Tanzania further grow...

Chances that Swissport will get a serious competitor soon are fading as the company that was licensed to do the same ground handling services at Julius Nyerere International Airport (JNIA) seems to face financial constraints.

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Mnyika: Budget for 2013/2014 failed to address Dar water woes
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Ubungo lawmaker John Mnyika (Chadema) has threatened to block the tabling of the 2014/2015 Water and Irrigation ministry's Budget estimates, saying the current budget was not fully implemented. Addressing a press conference in Dodoma yesterday, the ...
Parliament budget session resume on MondayDaily News

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

NIC Bank Tanzania has received Sh8.5 billion additional capital from its shareholders as the four-year old financial entity seeks to augment its lending capacity to incorporate Small and Medium Enterprises (SMEs) customer segments.

Lack of capital has been the biggest hurdle holding back local businesses

Mr. Pim van Ballekom, European Investment Bank Vice President for Africa and Mr. Ammish Owusu-Amoah, Managing Director of BANK OF AFRICA - TANZANIA signing of MOU between the two parties to unlock Euros 7 M in Tanzania.  Mr. Pim van Ballekom, European Investment Bank Vice President for Africa and Mr. Ammish Owusu-Amoah, Managing Director of BANK OF AFRICA - TANZANIA exchange documents after signing of MOU between the two parties to unlock Euros 7 M in...