TANZANIA: MAENDELEO Bank’s net profit increased three times in last year’s fourth quarter, attributed to a non-interest income raise. The bank’s financial statement released recently displayed net profit soared to 776m/- in the three months to December last year from 258m/- in a comparative quarter in 2022. The lender, with more than 124bn/- of assets, until […]
TANZANIA: Michelle Kilpin has been selected as the new Managing Director of Tanzania Breweries Limited (TBL), marking the first time in the company’s 90-year history that a woman has held this top position. She succeeds Jose Moran, who is transitioning to a regional portfolio within the continent. “TBL is honored to welcome Ms. Michelle Kilpin to […]
DAR ES SALAAM: THE stock value in the Dar es Salaam Stock Exchange (DSE) increased by 68 per cent last year, thanks to supportive government monetary policy and enhanced financial inclusion. The stock value rose to 225tri/- in 2023 from 134bn/- recorded in the previous year, marking a robust performance and resilience in the stock market. […]
DAR ES SALAAM: DAR ES SALAAM Stock Exchange (DSE) market turnover has declined by 23 per cent notably due to reduced activities in the pre-arranged boards. The bourse turnover went down to 1.4bn/- for the seven days ending last Friday from 1.82bn/- of the previous week. Zan Securities said in its weekly market wrap-up report that […]
TANZANIA: THE UTT AMIS fund value has increased by 54 per cent in one year, attributed to improved investor’s confidence in the financial markets. In the report released on Sunday during the 15th Annual General Meeting (AGM), the value soared to 1.53tri/- at the end of June from 996.5bn/- of the same period last year, an […]
DAR ES SALAAM:THE TCCIA Investment Ltd on Thursday launched an initial rights offering for selling over 72.9 million shares targeting to raise 10.58bn/- by December 1, this year. The funds earned from the sale will enable the TCCIA Investment Company to beef up its investment in the capital markets. This will include investment in corporate […]
Reuters Tanzania’s NMB Bank (NMB.TZ) is launching a 10 year multi currency medium term bond of 1 trillion Tanzanian shillings ($400 million) under a green bonds initiative, it said on Monday. African nations and businesses have been vying to increase their share of climate finance, to combat climate change and invest in sustainable development. The so-called green bonds […]
