Category: Stock News
DAR ES SALAAM: THE Tanzania Mercantile Exchange (TMX) has facilitated sale of more than 100,000 tonnes of commodities worth over 200bn/- in five years. TMX is the government institution under the Ministry of Finance established to help farmers, traders, exporters and other various market actors access domestic and global markets and as well obtain a fair…
ARUSHA: The Central Bank of Tanzania (BoT) warned Monday those who are holding foreign currency in secrecy, especially the US dollar, saying they are at risk of incurring huge losses. Addressing a Working Session of Board Chairpersons and Chief Executives of Public Institutions, BoT Governor Mr. Emmanuel Tutuba, said Tanzania is implementing strategies to strengthen the…
ARUSHA: PRESIDENT Samia Suluhu Hassan has presented a special award to the NMB Bank in recognition of the financial institution’s outstanding performance and contribution into the government coffers. The award was presented to the NMB Bank’s Chief Executive Officer Ruth Zaipuna in Arusha, during the working meeting of Board Chairpersons and Executives of the Public Enterprises…
TANZANIA Breweries Limited (TBL) has reported 42 per cent growth in net profit in the second quarter of this year boosted by significant increases in beer and spirit sales. The oldest and largest brewing company in the country which is a local subsidiary of the world’s largest brewing company AB InBev, made 39.5bn/- profit after…
THE long-term Treasury bond yields have yo-yoed in the last three years though show a steep increase in the first seven months of this year. The yields are expected to rise further as the government’s demand for public financing has significantly increased after the 2023/24 budget rose by 6.9 per cent to 44.4tri/-. Tanzania Securities…
Dar es Salaam. Although the global economy is exposed to tightened financial conditions, climate-related risks, ongoing war in Ukraine, and the cumulative effects of the Covid-19 pandemic, risks to the Tanzania’s economy remained moderate, a new report has shown. The Financial Stability Report issued by the Bank of Tanzania (BoT) says the moderate risk was mainly…
Dar es Salaam: THE National Housing Corporation (NHC) will for the first time in history list its bond on the stock market, with the company disclosing that it has recorded a significant rise in revenue and profit. The company’s revenue soared to 257.5bn/- in the financial year 2021/22 up from 144.4bn/- in 2020/21, equivalent to…
Tanzania has been ranked number six as the top-performing African stock market that have displayed outstanding returns, captivating attention and admiration from the investment community. This is according to the African Financials Research, based on data available up to June 2023. With Up to 1.7 per cent, Tanzania along with BRVM Cote d’Ivoire have admirably…