Licensed Dealing Member of DSE
SINGAPORE — The U.S. dollar retreated further on Wednesday as the euro extended its overnight bounce on relief Europe might avoid the worst fears concerning energy shortages, and on the chance the European Central Bank may deliver a more aggressive rate hike. Russian gas flows via the Nord Stream 1 pipeline are seen restarting on…
Investors’ wealth at the Nairobi Securities Exchange (NSE) plunged Sh95 billion as local traders raced to profit from stocks bought cheaply a month ago. The NSE’s market capitalisation closed at Sh2.15 trillion on Monday, down from Sh2.25 trillion last Thursday as a result of the profit taking, analysts said. The drop followed a rally at…
Mainstream Renewable Power together with investment company Actis have announced the sale of Africa’s largest pure-play renewable energy independent power producer (IPP) Lekela Power, to Egyptian company Infinity Group and Africa Finance Corporation (AFC). News of the sale was revealed in a joint statement by Mainstream and Actis on Monday, months after reports of the…
Dar es Salaam. Exim Bank Tanzania has completed the acquisition of assets and liabilities of First National Bank (FNB) Tanzania Limited as it ups its expansion plan domestically and regionally. The move comes almost nine months after Exim Bank Tanzania signed the offer to acquire certain assets and liabilities of FNB Tanzania on October 26,…
Uganda’s Central Bank has raised its benchmark policy rate by one percent to 8.5 percent in a radical move. This was occasioned by panic amidst surging inflation levels and increased pressure exerted by the US dollar against the local currency as a result of spikes in interest rates registered by developed economies. This development follows…
Commercial banks and saccos added an average margin of 4.5 percent on funds obtained under a State-backed affordable housing plan, according to the Kenya Mortgage Refinance Company (KMRC). Seven financial institutions got Sh1.34 billion from KMRC after it started disbursing funds for onward lending to home buyers last year, the firm says in its annual…
Africa-Press – Tanzania. DAR ES SALAAM Stock Exchange (DSE) is looking at a strong recovery this year after experiencing one of the lowest activities ever recorded of 104bn/- last year. According to Orbit Securities Company, the first six months this year has seen DSE recording an equity turnover of 75bn/- which is about 42 per…
UGANDAN Minister of State for Works and Transport, Mr Byamukama Fred has expressed his country’s readiness to strengthen business cooperation with Tanzania, following notable improvements in transport infrastructure in the Central Corridor. He made the remarks mid this week during his tour of Isaka Dry Port in Kahama District of Shinyanga region and Mwanza South…
TANGA CEMENT PUBLIC LIMITED COMPANY DSE: TCPLC INCORPORATED IN THE UNITED REPUBLIC OF TANZANIA “TANGA” OR “THE COMPANY” Further to the joint announcement made by HeidelbergCement AG (“Heidelberg Cement”) and AfriSam Mauritius Investment Holdings Limited (“AfriSam”) on 26 October 2021 (“the Previous Announcement”), the shareholders of the Company are referred to the subsequent joint announcement…
