MIKOCHENI, SENGA STREET

,
PLOT NO. 565 “B”
P.O. Box 4441, DAR ES SALAAM
PHONE: +255 685 511488
+255 673 511488
EMAIL: Info@optimacorporate.co.tz

Weak shilling eats into NMB’s profit
The post-tax profit for National Microfinance Bank (NMB) fell by about Sh3 billion during the first half of the
current calendar year, thanks to a weaker local currency and other economic challenges. The Dar es Salaam
Stock Exchange (DSE) listed commercial bank registered a post –tax profit of Sh77 billion during the period
between January and June 2015, down from Sh80 billion registered during a similar period last year. A falling
local currency during the entire first half of the current calendar year resulted into increased costs of rents and
computer software’s for Tanzania’s most profitable commercial bank. The citizen Pg 12
Gold is becoming less attractive to investors than the US dollar, say BOT
The downturn in the price of gold at the world market has made the US dollar to be more attractive for investors
than products, the Bank of Tanzania (BoT) has said in its July Monthly Economic Bulletin. According to the review
the price of gold decreased largely due to a rise in expectation that US interest rates will rise later in 2015, hence
making the US dollar more attractive to investors than gold. The Guardian “Business & Finance” Pg i
Insurance firm eyes bigger market share
The African Life Insurance has been rebranded into Sanlam Life Insurance as the firm seeks to institute a Pan
Africa brand for the first time in Tanzania, the firm’s chief executive officer, Mr Ian Kirk, said move will greatly
help the firm to expand its market share in both the life insurance and in other business segments. The citizen
Pg 12
Barclays launches US dollar debit card
Barclays Bank Tanzania (BBTL) has launched its first VISA Platinum US Dollar Debit card, which allows holders
with current account access their money in Tanzania and abroad. Barclays Retail Director, Mr Kumaran Pather,
said the new card was equipped with a Chip and Pin technology which make the card more secure and safest in
the market. Daily News “Business & Finance” Pg. 19
Orca to drill more gas wells in Songo Songo
Drilling of three new gas wells at Songo Songo islands by British Virgin Island based, Orca Exploration, which has
commissioned Paragon Offshore Plc is set to begin between August 1 and September 1 this year. In recent
statements, Orca, which operates locally as PanAfrica Engery Tanzania Limited said Paragon, which use M826
Mobile Drilling Work over Rig will last at least three months. Daily News “Business & Finance” Pg. 18

Mikocheni, Senga Street, Plot No. 565 “B”, P.O. Box 4441 Dar es
Salaam

PHONE

EMAIL

WEB

+255 685 511488

Info@optimacorporate.co.tz

www.optimacorporate.co.tz