CRDB to float shares worth 150 billion/- to boost its services

CRDB Bank Managing Director, Dr Charles Kimei.

CRDB Bank is expected to collect 150bn/- from selling shares to shareholders as part of the bank’s initiative to boost its services in the next financial year.

Speaking ahead of this year's shareholders meeting, the bank’s managing director, Dr Charles Kimei said that the amount will be used by the bank to expand and improve its services.

He said the amount is to be approved by the bank’s shareholders who are expected to start their meeting on Friday in the safari capital of Arusha.

Kimei said that the 150bn/- will be an increase of 20 percent of the bank’s capital base. “The bank’s capital base is at 400bn/- which is not enough to meet bank’s demands, that’s why we are thinking to increase it by 20 percent.”

“We have a number of things to do, which needs money and when we sat down we decided to float shares to our shareholders,” Kimei said, adding that those shareholders who won’t be able to buy those shares they will sell those shares to the new bank’s investor.

He said the new foreign investor is expected to buy shares amounting to 100bn/-.

“Our shareholders will be buying shares at a cheaper price compared to those shares which are to be sold to the new investor and the difference will be the profit of our shareholders,” he said.

The official said that the projected amount will be spent in expanding services and improving bank’s ICT systems.

According to Kimei, the CRDB Bank's subsidiary company in Burundi has been performing well and since last year they have started registering profit.

“This is what makes us to eye for other foreign markets,” he said.

On the plummeting of Tanzanian shillings, the bank’s senior official blamed politicians for politicizing the matter, saying: “The weakening of shillings have a positive benefit to Tanzanian farmers. Their crops will be bought as people may stop importing food stuffs from abroad. Even importation of sugar will come to an end as the locally produced sugar will become cheap.”

He suggested the need for the Tanzanian shillings to be measured by the market.

The bank’s shareholders meeting is expected to bring on board more than 1,000 shareholders from across the country.

As of November 2014, CRDB Bank has a network of 118 fixed branches, 13 mobile branches, 984 Point of Sales (POS) terminals and 335 Automated teller machines, in all regions of Tanzania.

BY LUSEKELO PHILEMON

SOURCE: THE GUARDIAN

Read More

Deni la Sh275 bilioni lailiza Tanesco

Dar es Salaam. Shirika la Umeme (Tanesco) limesema limbikizo la deni la Sh275 bilioni kwa taasisi mbalimbali za Serikali na wateja binafsi, linachangia kukwamisha utekelezaji wa miradi mbalimbali.

Hata hivyo, Tanesco imeelezwa kuwa deni hilo limeanza kupunguzwa na mpaka kufikia Juni, mwaka huu, takriban Sh30 bilioni zilikwishalipwa na wadaiwa.

Kutokana na ukosefu wa fedha, Tanesco inafanya juhudi za ziada ili kufanyia matengenezo transfoma inayosambaza umeme katika eneo kubwa la Kipawa jijini.

Akizungumza jana na gazeti hili, msemaji wa shirika hilo, Adrian Severin alisema hutamani kufanya kazi bila kuwakera wateja wao, lakini tatizo la fedha linawafanya washindwe kufikia malengo.

Hata hivyo, Severin alisema baada ya kufikia kikomo cha muda wa tangazo la ukusanyaji wa madeni hayo, Tanesco itaanza kuchukua hatua kali dhidi ya wadaiwa wote sugu.

 “Kuna ripoti ambayo tutaipokea leo (jana) itakayokuwa na mwelekeo wa jinsi gani tutakusanya madeni hayo. Inasikitisha kuona taasisi za Serikali na wateja wengine hawalipi madeni yao wakati wanaendelea kupata huduma,” alisema.

“Shirika linaathirika sana na deni hilo, tunashindwa kutoa huduma kwa ufanisi katika maeneo mengi kwa sababu ya kukosa fedha. Kiasi hicho kama kingekuwapo kingeweza kusaidia kutatua changamoto hizi ambazo kwa kweli ni kero kubwa kwa wateja wengine.”

Akizungumzia transfoma ya Kipawa, Severin alisema mainjinia wa Tanesco wamebaini tatizo kubwa ambalo litatatuliwa baada ya siku tatu mpaka nne.

“Kuna mtaalamu atafika leo (tangu jana) kutoka India kwa ajili ya kuitengeneza. Inaweza kukamilika Jumatano au Alhamisi,” alisema alisema Severin.

Alisema kuharibika kwa transfoma hiyo, kumeyafanya maeneo ya Kisarawe, Gongo la Mboto, Kivule, Kipunguni, Ukonga, Tabata, Uwanja wa Ndege, Chang’ombe, Tandika, Nyerere Road na maeneo jirani kukosa umeme.

Alisema ili kupunguza usumbufu, umeme unaotumiwa katika makazi ya watu kwa sasa utatoka katika transfoma ya Ubungo, “lakini kwa viwanda itabidi wasubiri mpaka matengenezo yatapokamilika.”

Na Kelvin Matandiko na Daula Abdul, Mwananchi

Read More

Kilimo cha Matikiti maji aina ya Sugar Baby

Mahitaji
Shamba la eka 5
Mbegu
Gharama za uendeshaji wa shamba

Matikiti maji aina ya Sugar baby yanachukua siku 60 toka kupandwa hadi kuvuna na kwa mwaka unaweza kulima mara 4 .

Nafasi ya shimbo moja kwenda lingine  ni 2mx2m na kila shimo unatakiwa kuweka  mbegu 2 ambazo zinazaa matunda 2 - 3  ambayo wakati wa mavuno hukupatia matunda 4 - 6

Read More

Shell offers 50 percent premium to buy BG for $70 billion

Shell branding is seen at a petrol station in west London, in this January 29, 2015 file photo. REUTERS/Toby Melville

(Reuters) - Royal Dutch Shell (RDSa.L) agreed to buy smaller rival BG Group (BG.L) for $70 billion in the first oil super-merger in more than a decade to close the gap with the world's largest oil firm U.S. ExxonMobil (XOM.N).

In a joint statement, the two firms said Shell would pay a mix of cash and shares that would value each BG share at around 1,350 pence ($20). It said this represented a premium of around 52 percent to the 90-day trading average.

Read More