SACCOS LOAN PORTFOLIO INCREASES

04 Jun 2020 Robertha Makinda
The total loans issued by the Savings and Credit Cooperative Societies (SACCOS), in the country increased to 927.66n/- in the year ending December last year from 833.89bn/- in the corresponding quater which is a sign of rising credit to finance various economic activities. According to the Bank of Tanzania (BoT), Consolidated Zonal Economic Performance Report for the period ending December last year shows that on quartely basis, the total loans issued rose by 15.21bn/- compared from 912.45bn/- in the preceding quarter. During the period, the number of SACCOS decreased from 4,177 at the end of December 2018 to 3,714 at the end of December 2019. Despite the decrease in the number of SACCOS, the total number of members, share values, value of deposits, savings, loans issu outstanding loans increased. The value of shares of the Saccos members in the country decreased to 57.06bn/- in the period under review comparedto 53.63bn/- registered in the corresponding period 2018. The total savings by the Saccos members increased to 200.21bn/- compared to 176.48bn/- in 2018. During the reference period, the members' total deposits in the Saccos increased to 51.67bn/- compared to 39.53 bn/- in the period ending December 2018. The total outstanding loans of the Saccos members to 472.63bn/- in the period ending December compared to 332.78bn/- registered in the corresponding period 2018. During the reference period, the number of Saccos members in the country decreased to 3,714 the quater ending December compared to 4,177 in the period ended 2018. During the period under review, the number of Saccos in the country increased to 711,507 in the quarter under review from 620,616 in the corresponding quarter 2018. Saccos play important role in socioeconomic of members and communities in general as they enable easy access to financial services to people, encourage savings, create employment opportunities, support directly community development effort like helping community access to socail services, stimulated growth. more details ...

TPDC MOVES TO REPOSSESS ITS ASSET ACQUIRED ILLEGALLY

03 Jun 2020 Robertha Makinda
TANZANIA Petroleum Development Corporation (TPDC) has repossessed one of its buildings, which were leased to Sacossa Limited without a valid legal agreement. The company has also been ordered to pay acured rent of 330m/ -to allow TPDC to benefit from the asset which was used as a warehouse. The Permanent Secretary in the Ministry of Energy Eng Zena Said, said on Tuesday in Dar es Salaam that, the recovery of the building was part of ongoing efforts by the government to repossess all its assests whos ownership is doubtful. She said that the fifth phase government unders President John Magufuli formed a special committee to verify the government assets in efforts to ensure that they are beneficial to the country. The building located on Plot No 1022 at Mikocheni Industrial Area in Dar es Salaam was officially handed over to the TPDC yesterday. The PS said that although TPDC has resolved the dispute with Sacossa Ltd, the company will be required to pay the accrued rent because it has been using the warehouse since 2006 to date. "The verification of government assets is ogoing ..or ministry is also involved by making follow up on our institutions to ensure that all assets with disputed ownership are being repossessed, " the PS said. For his part, TPDC Managing Director James Mataragio said that his corporation owns various assets such as buildings and plots that's why it formed a task force to ensure that they are properly managed. "The task force was responsible for verifying all asserts whose ownership has caused legal disputes with other companies or institutions," he said. He said that TPDC being owner of plot No 1022 located in Mikocheni Industrial Area, leased the building to Saccosa Limited to be used for business purpose but the company failed to pay the required rent. Mr Mataragio noted that despite efforts undertaken by TPDC but the company failed to clear the debt adding that it could not evict the tenant due to various reasons including court's injuction. He said TPDC continued to take various steps among them holding meetings with the respective company which resulted into repossession of the building. "It was also agreed that Sacossa Limited should pay the accured rent of 330,240,00/- from February 2006 to May 2020, " Mr Mataragio said. He further noted that the handover of the building was just part of the agreement reached between two parties adding that TPDC will make close prompt follow up to make sure that the payment is also cleared. The DG assured that TPDC will ensure that all government assets are protected and being used for the benefit of the corporation and the nation in general. A representative from Sacossa Limited who is also one of the directors Mr. Donacien Kambamba said that his company will work on the government directives as stipulated in the agreement. TANZANIA Petroleum Development Corporation (TPDC) has repossessed one of its buildings, which were leased to Sacossa Limited without a valid legal agreement. The company has also been ordered to pay acured rent of 330m/ -to allow TPDC to benefit from the asset which was used as a warehouse. The Permanent Secretary in the Ministry of Energy Eng Zena Said, said on Tuesday in Dar es Salaam that, the recovery of the building was part of ongoing efforts by the government to repossess all its assests whos ownership is doubtful. She said that the fifth phase government unders President John Magufuli formed a special committee to verify the government assets in efforts to ensure that they are beneficial to the country. The building located on Plot No 1022 at Mikocheni Industrial Area in Dar es Salaam was officially handed over to the TPDC yesterday. The PS said that although TPDC has resolved the dispute with Sacossa Ltd, the company will be required to pay the accrued rent because it has been using the warehouse since 2006 to date. "The verification of government assets is ogoing ..or ministry is also involved by making follow up on our institutions to ensure that all assets with disputed ownership are being repossessed, " the PS said. For his part, TPDC Managing Director James Mataragio said that his corporation owns various assets such as buildings and plots that's why it formed a task force to ensure that they are properly managed. "The task force was responsible for verifying all asserts whose ownership has caused legal disputes with other companies or institutions," he said. He said that TPDC being owner of plot No 1022 located in Mikocheni Industrial Area, leased the building to Saccosa Limited to be used for business purpose but the company failed to pay the required rent. Mr Mataragio noted that despite efforts undertaken by TPDC but the company failed to clear the debt adding that it could not evict the tenant due to various reasons including court's injuction. He said TPDC continued to take various steps among them holding meetings with the respective company which resulted into repossession of the building. "It was also agreed that Sacossa Limited should pay the accured rent of 330,240,00/- from February 2006 to May 2020, " Mr Mataragio said. He further noted that the handover of the building was just part of the agreement reached between two parties adding that TPDC will make close prompt follow up to make sure that the payment is also cleared. The DG assured that TPDC will ensure that all government assets are protected and being used for the benefit of the corporation and the nation in general. A representative from Sacossa Limited who is also one of the directors Mr. Donacien Kambamba said that his company will work on the government directives as stipulated in the agreement. TANZANIA Petroleum Development Corporation (TPDC) has repossessed one of its buildings, which were leased to Sacossa Limited without a valid legal agreement. The company has also been ordered to pay acured rent of 330m/ -to allow TPDC to benefit from the asset which was used as a warehouse. The Permanent Secretary in the Ministry of Energy Eng Zena Said, said on Tuesday in Dar es Salaam that, the recovery of the building was part of ongoing efforts by the government to repossess all its assests whos ownership is doubtful. She said that the fifth phase government unders President John Magufuli formed a special committee to verify the government assets in efforts to ensure that they are beneficial to the country. The building located on Plot No 1022 at Mikocheni Industrial Area in Dar es Salaam was officially handed over to the TPDC yesterday. The PS said that although TPDC has resolved the dispute with Sacossa Ltd, the company will be required to pay the accrued rent because it has been using the warehouse since 2006 to date. "The verification of government assets is ogoing ..or ministry is also involved by making follow up on our institutions to ensure that all assets with disputed ownership are being repossessed, " the PS said. For his part, TPDC Managing Director James Mataragio said that his corporation owns various assets such as buildings and plots that's why it formed a task force to ensure that they are properly managed. "The task force was responsible for verifying all asserts whose ownership has caused legal disputes with other companies or institutions," he said. He said that TPDC being owner of plot No 1022 located in Mikocheni Industrial Area, leased the building to Saccosa Limited to be used for business purpose but the company failed to pay the required rent. Mr Mataragio noted that despite efforts undertaken by TPDC but the company failed to clear the debt adding that it could not evict the tenant due to various reasons including court's injuction. He said TPDC continued to take various steps among them holding meetings with the respective company which resulted into repossession of the building. "It was also agreed that Sacossa Limited should pay the accured rent of 330,240,00/- from February 2006 to May 2020, " Mr Mataragio said. He further noted that the handover of the building was just part of the agreement reached between two parties adding that TPDC will make close prompt follow up to make sure that the payment is also cleared. The DG assured that TPDC will ensure that all government assets are protected and being used for the benefit of the corporation and the nation in general. A representative from Sacossa Limited who is also one of the directors Mr. Donacien Kambamba said that his company will work on the government directives as stipulated in the agreement. more details ...

TPB, TIB ZAUNGANISHWA

02 Jun 2020 Robertha Makinda
SERIKALI imezinganisha Benki ya TPB na TIB Corporate Ltd kuanzia jana, ikiwa ni hatua yake ya kuboresha utendaji wa mashirika na taasisi za Umma. Hayo yalielezwa jana jijni Dodoma na Msajili wa Hazina, Athumani Mbuttuka wakati wa kuelezea hatua iliyochukuliwa na serikali ya kuunganisha benki hizo. Alisema serikali imechukua hatua hiyo kwa lengo la kuboresha utendaji wa benki inazozimiliki ili kuwa na benki moja ya biashara ambayo ni imara. "Serikali imeendelea kuchukua hatua mbalimbali zenye lengo la kuboresha utendaji wa mashirika na taasisi za umma ikiwamo kuunganisha taasisi zinazotekeleza majukumu yanayofanana ili kuongza ufanisi na kupunguza gharama za uendeshaji. "Kwa muktadha huu, kuanzia Juni 1 mwaa 2020, Serikali imeamua kuunganisha benki za TPB na TIB Corparate na kwa hatua ya awali benki ya TPB itachukuwa mali na madeni ya Benki ya TIB Corporate." Mbuttuka aliongeza: "Muungano huu unalenga kuleta mageuzi makubwa ya kiutendaji, kimfumo, kimuundo, na kitaswira ili benki hii iweze kuhimili ushindani wa kibiashara kwenye sekta ya fedha." "Wateja wote wa Benki ya TPB na Benki ya TIB Corporate wataendelea kuhudumiwa kwenye matawi yao ya sasa hadi hapo watakapotaarifiwa vinginevyo. "Serikali inawahakikishia wateja wa benki hizi mbili pamoja na umma kuwa huduma za kibenki hazitaathirika kwa vyovyote vile kutokana na mabadiliko haya. Kuhusu wafanyakazi, Mbuttuka alisema hakuna mfanyakazi ambaye atapoteza kazi katika mabadiiko hayo. more details ...
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What color is not part of the Tanzanian Flag
a. Red
80%
b. Green
20%
c. Blue
0%
d. Black
0%
Total Votes: 5