TANZANIA: TANZANIA Breweries Public Limited Company (TBL) shareholders have ratified a dividend of 537/- per share for the period ended December last year, at an Annual General Meeting (AGM). The dividend approved is equivalent to 158.4bn/-, which is an increase of 85 per cent over the prior year. TBL Chairman Mr Leonard Mususa, said despite the…
DAR ES SALAAM: Maendeleo Bank has announced a significant increase in dividends 69 percent for 2023, thanks to the strong bank’s financial performance. Announcing the dividend on Wednesday in Dar es Salaam, the Acting Director of the bank, Mr Peter Tarimo stated that the shareholders will receive 44 shillings per share, a substantial rise from 26…
TANZANIA: THE Tanzanian shilling has depreciated by 5.0 per cent over the past six months up to July, as it faces heightened demand for US dollars driven by tightening monetary policies in advanced economies and rising global commodity prices. According to the Bank of Tanzania (BoT)’s Indicative Exchange Rate report, the exchange rate stood at 2,652/40 shillings per…
DAR ES SALAAM: AFRIPRISE Investment profit has minutely increased by 1.0 per cent, attributing the trend to improved capital market conditions and gains from the sale of treasury securities. The financial results of the listed firm, which is an investment wing of Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA), show that the net profit increased to 1.97bn/-…
TANZANIA: SHAREHOLDERS of Swissport Tanzania have a reason to smile after the dividend increased by 25 per cent per share. Swissport Chief Executive Officer Mrisho Yassin said the increase was warranted after the ground handling firm generated a net profit of 3.6bn/- last year against 2.6bn/-in 2022. The profit pushed up the total dividend payout for…
DAR ES SALAAM: CAPITAL markets investment value has increased by 23.2 per cent as of last month compared to the amount recorded in April last year. New records reveal that the investment value has reached 43.4tri/- as of April this year compared to 35.2tri/- recorded during the corresponding period previous year, according to Chief Executive…
DAR ES SALAAM: THE government yesterday launched a mutual fund that targets the low-income bracket, a move envisaged to accelerate financial inclusion in the country. The collective scheme, Timiza Fund, introduced by Zan Securities, one of the leading stock brokerage firms, is the first private sector mutual fund and the third in the market. The sector…
DAR ES SALAAM: DAR ES SALAAM Stock Exchange (DSE) yesterday staged a research challenge aimed at fostering financial and investment literacy among students from higher learning institutions. The ‘CFA Institute Research Challenge 2023/2024 local competition’ supervised by the CFA Society East Africa intends to empower youth on various financial matters. The DSE’s Acting Director, Ms Mary…
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…
