Posts tagged as: central

East Africa: East Africa On High Alert As Ebola Hits DRC

By Ivan R. Mugisha and Stellar Murumba

Eastern African countries are on high alert following the confirmation of an Ebola outbreak in the Democratic Republic of Congo (DRC).

The move comes after the World Health Organisation (WHO) declared an Ebola outbreak in DRC on Friday, following one positive test in a specialised laboratory in Kinshasa, the country’s capital.

Nine suspected cases including three deaths have been reported in DRC since April 22, while six patients are currently hospitalised.

Rwanda and DRC have set up a joint monitoring team that includes doctors and Ebola experts from the WHO and medical charity Doctors Without Borders (known by its French acronym MSF).

Rwanda has also reinstated Ebola screening at its points of entry especially at the two border posts it shares with DRC – Gisenyi-Goma and Cyangugu-Bukavu.

“We are following the situation in DRC closely and we are more than ready to protect our population,” Malick Kayumba, Rwanda’s Health ministry spokesperson said on Wednesday.

“Rwandans and everyone in Rwanda should avoid travelling to the DRC, especially to that area where Ebola has been confirmed until the situation is clear,” he added.

Mr Kayumba said the outbreak is currently confined in a remote area in North DRC and is unlikely to spread widely in the region.

“But we shall continue to share information with Rwandans and ensure that they are safe and know how to protect themselves,” he said.

Surveillance of travellers

In Kenya, holding rooms at the Jomo Kenyatta International Airport in Nairobi have been re-activated to isolate suspected Ebola virus disease (EVD) cases while awaiting possible transfer to health facilities.

“We have strengthened screening and surveillance of travellers from and through DRC at all points of entry,” said director of medical services Jackson Kioko in a statement on Tuesday.

“We wish to assure Kenyans that there is no suspected case of Ebola virus in the country and they should remain vigilant, look out for any such illnesses and report to the nearest health facility without delay for immediate verification and investigation.”

The cluster of undiagnosed illness and deaths including haemorrhagic symptoms in Likati Health Zone, Bas Uele Province – North of the DRC, bordering Central African Republic was first reported on April 22.

Following the reports, Rwanda’s Health minister Diane Gashumba directed all hospital directors to be on high alert and to activate their rapid response teams.

All persons with travel history from or through the Democratic Republic of Congo (DRC) to Rwanda are required to provide a minimum package of information to guide investigations surrounding the Ebola outbreak.

This includes, but is not limited to; personal details, exact location of origin or transit, history of contact with potential Ebola virus disease cases, presence of any suggestive signs and symptoms of the disease.

Similar instructions have also been given in Kenya.

Declaration of contact while in Kenya will also be collected to aid personal risk assessment and daily follow-up for 21 days if they (travellers) will still be residents.

DRC has reported eight Ebola outbreaks since 1976 with the last one occurring in 2014 that was quickly contained and killed 49 people.

Nigeria: Doctors Move to Avert Spread of Fresh Ebola Outbreak

By Chukwuma Muanya and Nkechi Onyedika-Ugoeze

Lagos and Abuja — The Nigerian Medical Association (NMA) is finalising an arrangement to contain a possible spread of Ebola Virus Disease (EVD) following its recent outbreak in the Democratic Republic of Congo (DR Congo).

It urged the Federal Government to strengthen its response team and increase surveillance on the nation’s borders.

The proactive move, instigated by the confirmation of two more suspected cases of the deadly disease which have claimed three lives in the Central African nation, is to check the disaster and make government alive to its responsibilities of ensuring good health for the citizenry.

In a statement yesterday in Abuja by its President and Secretary General, Mike Ogirima and Yusuf Tanko Sununu, NMA pledged its readiness to partner the Federal Ministry of Health (FMoH) to achieve yet another feat on prevention and control of the contagious ailment.

The doctors, subsequently, appealed to all health teams to refresh their knowledge on clinical presentation of the scourge, apply universal basic precautions in patients’ care and employ standard protocols of management and reporting of suspected cases.

The NMA also called on Nigerians to be calm and cooperate with government in securing the country, especially during surveillance at entry points.

The medics equally assured the citizens of their readiness to safeguard the health of the nation.

“The recent declaration of outbreak of Ebola in the Democratic Republic of Congo is another major setback to the world. The devastation brought about by the last one still remains fresh in our minds. West Africa was worst affected with more than 11,000 deaths recorded in 2014-2015, mainly in Guinea, Sierra Leone and Liberia.

“Efforts by the Government of the Federal Republic of Nigeria have been acclaimed as one of the best moments the country demonstrated. That is, where there is political will, success is assured. The role of our fallen heroes, especially the late Dr. Stella Ameyo Adadevoh in the control of the spread of the disease is not only worth remembering but reminds us of the need to make sacrifices for our country,” the statement read.

However, the World Health Organisation (WHO) yesterday identified two more suspected cases of the deadly virus a day after it declared an outbreak in Congo.

The United Nations agency disclosed at the weekend there were now 11 suspected cases, including three reported deaths, in Likati in Congo’s northern Bas-Uele Province. It added that one death had tested positive for an Ebola strain earlier seen in the country.

WHO noted that the first infection was contracted by a male on April 22, 2017 some 870 miles from the capital, Kinshasa. It is, however, working with the government to coordinate a response.

The Central African nation has witnessed seven major outbreaks in the recent past, including 2014 when it recorded dozen cases. That particular incident was unconnected with the massive epidemic in Guinea, Liberia and Sierra Leone that left thousands affected.

According to the global agency, the virus causes acute illness, and it is even fatal, if untreated. The virus first appeared in 1976 in two simultaneous outbreaks, one in what is now, Nzara, South Sudan, and the other in Yambuku, Democratic Republic of Congo. The latter occurred in a village near the Ebola River, from which the disease derives its name.

The 2014-2016 outbreak in West Africa was the largest and most complex since its emergence. There were more cases and deaths recorded in this instance than all others put together. It also spread between countries, starting in Guinea then moving across borders to Sierra Leone and Liberia.

The virus family, Filoviridae, includes three genera: Cuevavirus, Marburgvirus and Ebolavirus. Within the genus Ebolavirus, five species have been identified namely Zaire, Bundibugyo, Sudan, Reston and Taï Forest. The first three have been associated with large outbreaks in Africa. The virus, that caused the 2014-2016 sad incident, belongs to the Zaire specie.

Meanwhile, the Minister of Health, Prof. Isaac Adewole, has called on Nigerians not to panic as the Federal Government remains committed to ensuring that Ebola disease is not imported into the country.

The minister made the call yesterday while inspecting thermal screening machines located at the Port Health Stand of Nnamdi Azikwe International Airport, Abuja.

A statement from the ministry noted that the minister was at the airport on assessment tour to ensure that the screening machines were functioning perfectly as the country steps up surveillance in detecting fever of any kind.

You may recall that the country began health screening at the airports during the Ebola crisis of 2014, and the screening has continued since then.

Adewole said, “we want to assure Nigerians that we have never stopped screening people, it has been going on at the international wings of all the airports in the country, although passengers may not have noticed it.

“There is no reason to panic, everything is under control, if there is a need to screen local passengers we would do that but for now we are concentrating on passengers on international travels.”

He said that people should be free to go about their lawful business, but that they should report any signs or symptoms of fever to the nearest health facility.

Earlier, Adewole had a meeting with the Airport Manager Alh. Sani Muhammed who assured the minister of the readiness of all the airport staff to work together in ensuring that Ebola does not spread into the country.

The minister further directed that any passengers with fever arriving from a county where Ebola has been detected should be taken for further investigation.

According to the Director, Port Health Services, Dr. Hassan Garba, a sophisticated thermal camera captures all the arriving passengers with or without their knowledge, and anybody who is captured as red on the camera, would be quietly called aside for questioning.

The minister further directed that any passengers with fever arriving from a county where Ebola has been detected should be taken for further investigation.

Schools Advised Against Expelling Homosexuals

Photo: The Observer

Pastor Martin Ssempa used to counsel youths on homosexuality

Mothers Union Uganda has advised schools to build a foundation for counseling children involved in homosexuality-related behavior instead of expelling them.

Mothers Union is an international Christian charity organization affiliated to the Anglican Church.

The provincial president Mothers Union Uganda, Ruth Sennyonyi says that sexuality problems should be addressed within the school settings in order to avoid extending it to communities.

Sennyonyi made her plea during a symposium organized by the ministry of gender and cultural affairs in commemoration of the International Day of the Family.

The day celebrated on March 15, this year focused on family well-being and promoting family-friendly education. The day highlights the importance of all caregivers in the family, and the importance of parental education for the welfare of children.

She observed that expelling students from school because of homosexuality does not address the problem but rather worsens it since the students involved are likely to continue with it in other schools.

“We cannot keep sending children away from schools because of lesbianism. We have to deal with the problem, because they chase you from Nabingo, they chase you from Gayaza and what do they do? They send them to me; ‘ talk to them, we have expelled them’ Then where are they going? So, we need to deal with that problem in the schools. We are working yes, we don’t want lesbianism, we don’t want homosexuality but we need to prevent it from happening rather than just chasing away”, she said.

Several schools across Uganda have over the years expelled students involved in the vice, which remains illegal in Uganda. It carries the possibility of life imprisonment for those found guilty of homosexual acts.

State minister for gender and cultural affairs Peace Mutuuzo says expelling students from schools due to homosexuality is dangerous.

“It is dangerous because these girls have learnt about this lesbianism from schools to begin with. It is not common for these acts to begin at home, they begin at school. So, dealing with lesbianism from school is critically important. Schools must identify, we used to have prefects, we used to have spies. They still do exist. Those structures should not break. Instead of punishing this child by sending her to go and face the wrath of the world or transfer her behaviours from one school to another, we’d rather deal with the matter from school”, Mutuuzo said.

Mutuuzo suggests that schools and universities should concentrate on sensitizing students about morals and homosexuality instead of punishing students once it is revealed that they are homosexuals.

“Begin with children who have not yet started getting involved in these things. Freshers in university must first be given this kind of information and insight.

Children who are beginning first year, in senior five must be sat down with and at least every session get a guest speaker to talk about issues at hand, morals. Give these children some boxes where they can write and give information freely and share with the headmaster and the administration. And when you get to these children, don’t punish them like they are criminals in Luzira condemned to death. Meet them and understand where this is coming from”, she added.

Uganda

Ugandan Soldiers Accused of Rape, Sexual Exploitation in CAR

A contingent of the Ugandan soldiers returning from the Central African Republic (CAR) are being accused of having… Read more »

Ugandan Soldiers Accused of Rape, Sexual Exploitation in CAR

Photo: The Observer

Uganda People’s Defence Force soldiers in Central African Republic (file photo).

A contingent of the Ugandan soldiers returning from the Central African Republic (CAR) are being accused of having sexually exploited or abused at least 13 women and girls since 2015.

A report by Human Rights Watch (HRW) says at least one rape was registered. In a statement issued by its Nairobi office, HRW says it interviewed 13 women and 3 girls early this year.

The Uganda People’s Defence Forces (UPDF) soldiers had been deployed in CAR since 2009 as part of the African Union’s Regional Task Force to eliminate the Lord’s Resistance Army (LRA) rebels.

In April this year, the ministry of defence announced the withdrawal of UPDF troops from CAR, saying the mission to neutralise the LRA had been successfully achieved.

The women and girls claimed the abuse by Ugandan soldiers has been on since 2010 in the southeastern town of Obo, where Ugandan forces were based.

Lewis Mudge, Africa researcher at Human Rights Watch says as counter-LRA operations wind down, the UPDF should not ignore allegations of sexual exploitation and rape by its soldiers in the Central African Republic.

He wants Ugandan and African Union authorities to conduct proper investigations, punish those responsible, and make sure that the women and girls who were sexually abused or exploited get the services they need.

Fifteen of the women and girls interviewed according to HRW, said they became pregnant as a result of their involvement with the soldiers. HRW says in each case the soldier who fathered the child left the country and has not provided any support.

The report says in CAR, women and girls often do not report sexual violence or exploitation due to shame, stigma, or fear of retaliation.

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In 2016, the UN Office of the High Commissioner for Human Rights reported 14 cases of rape by Ugandan forces in CAR, including cases involving victims who were children at the time.HRW says it has an internal UN report, in which, UN investigators in Obo registered 18 cases of sexual violence or harassment by Ugandan soldiers against women and girls.According to HRW, investigators also obtained information about 44 women and girls with children fathered by UPDF soldiers. Human Rights Watch says it contacted the Ugandan ministry of defence and veterans affairs about the allegations but the ministry is yet to reply.Several women and girls told HRW that Ugandan military investigators had interviewed them over the past year, but that there was no follow-up and they had no information about the investigation.UPDF spokesman, Brigadier Richard Karemire, could not be reached for comment. This is not the first time that UPDF troops deployed outside the country are being accused of sexually exploiting women and girls near their bases.In 2014, HRW said Ugandan and Burundian military personnel from the AU mission in Somalia had exploited and abused women, including raping those who were seeking water or medical assistance from AMISOM bases.In 2000, UPDF soldiers returning from neighbouring Democratic Republic of the Congo (DRC) are said to have fathered over two thousand children. Some of the women later followed their UPDF “husbands” into Uganda.VICTIMS SPEAK OUTSeven women and one girl said they knew the name of the Ugandan soldier who had paid them for sex, but the others did not. None of the 15 who had a child as a result of the exploitation knew how to contact the soldier who had abandoned them.”Claire,” 25, said that when she was six months pregnant, the Ugandan soldier who had impregnated her told her he was leaving the following day. “He refused to give me his number in Uganda,” she said.”When I insisted he said, ‘What for? You are just going to call and bother me.'””Margaret” said that the Ugandan father of her child, born in early 2015, refused to give her his phone number in Uganda. “No, the child is my gift to you,” she said he told her. “It will be a souvenir to remember me by.”Six women and girls said Ugandan military personnel had promised to take them to Uganda for a better life in exchange for acting as a soldier’s “wife.”A 25-year-old mother of a child from a Ugandan soldier, “Claude,” said a Ugandan soldier convinced her to become his “wife” in 2014. “He said he would marry me and take me to Uganda if I accepted to be his ‘wife,'” she said. “He said he would give me what I wanted and needed as his ‘wife,’ so I accepted.””Rebecca,” 22, said she agreed to be a Ugandan soldier’s “wife” when she was 17. “He fooled me and he said he would take me to Uganda as his own wife – I believed him,” she said.”I was young and stupid. We were together for a year. Sometimes he would come to the house, sometimes I would go to the base.” “Rebecca” had a child with the soldier when she was still 17.A 21-year-old woman, “Alphonsine,” said a Ugandan soldier promised her money, food, and a home in Uganda. Over the course of five years, they had two children together. He abandoned her and the children in November 2015, when he returned to Uganda. “I think about my situation and how I was fooled,” she said. “Now it is very difficult for me to find money for food and soap.”30-year-old “Jeanette,” who had a child from a Ugandan soldier in 2015, said she had sex with him because she needed money and food. “Now I need more money and food because I have to feed and clothe this child, too.”

IMF Projects Economy to Grow By 6.2 Percent in 2017

Photo: The New Times

Horticulture exports (file photo).

By Collins Mwai

International Monetary Fund (IMF) has projected that Rwanda’s economy will grow by 6.2 per cent in 2017, recovering from a slight dip in 2016 where it grew by 5.9 per cent.

In their second review of Rwanda’s Policy Support Instrument, the IMF projected that the economic growth would be accelerated this year largely by recovery of the agricultural sector, growth in exports, and reduction in the trade deficit.

The Fund anticipates that the government’s efforts and incentives to promote domestic production and consumption of local products as well as value addition of exports will keep the economy buoyant.

IMF Mission chief Laura Redifer said economic growth is expected to recover this year due to good rains experienced so far and expanding domestic production.

The IMF team said the external trade deficit was lower than earlier anticipated in 2016 largely due to a strong pick up in goods and services exports combined with reduced demand of imports.

According to statistics released by the central bank in January, Rwanda’s trade deficit reduced from $1,602.21 million to $1,519.97 million in the first 11 months of 2016.

“The Government also implemented a Made-in-Rwanda policy to encourage domestic production of certain goods currently imported and promote exports diversification intended to foster external stability and growth in the medium term,” Redifer said.

The weather conditions also give the IMF reasons to believe that inflation which is largely food driven will come down as food supply constraints recede.

The IMF team, in collaboration with the Government, yesterday held a seminar in Kigali to discuss Rwanda’s and the region’s outlook.

Government optimistic

Reacting to the predictions by the IMF, central bank governor John Rwangombwa said the Government was optimistic on the outlook of the economy this year.

Rwangombwa said there was lesser global uncertainties this year compared to last year and the climatic conditions had so far been favourable.

The outlook and results this far, he said make a case for deeper integration across the East African Community, which he said was part of the contributing factors to the positive outlook.

Despite inflationary pressures starting off higher than expected in 2017, he said that they were expected to come down during the year to about 6-7 per cent by the end of the year.

On the army worm crisis that many fear it could affect the performance of the agriculture sector and consequently the economy, the governor assured that it would not hold back the economic performance as it had been tamed early.

It is estimated that the pests have ravaged about 16 per cent of the total maize plantation but Rwangombwa said that would still not have much of an impact to hold back the sector.

Finance and Economic Planning minister Claver Gatete said that the performance so far had been an important lesson on value addition of exports as well as diversification of exports.

The IMF projections come a few days after Fitch Ratings, a global leader in credit ratings and research, affirmed Rwanda’s economic outlook as stable.

The report, noted that there was low public debt and high growth potential even as the depressed commodity prices in 2016 had increased the balance of payments pressures for Rwanda.

Rwanda

Experts Discuss Continent’s Security Challenges

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Rwandan Police Peacekeepers in CAR Take Umuganda to Schools

By Times Reporter

Rwandan Police peacekeepers serving under the United Nations Multidimensional Stabilisation Mission in Central African Republic (MINUSCA) conducted Umuganda on Saturday where they cleaned a school to promote sanitation and hygiene.

The peacekeepers extended the home-grown initiative to College de la Paix where they were joined by the students, parents and the teaching staff to clear bushes and create water channels to prevent flooding in the school.

The school is located in the Boeing sector in the capital Bangui, which is under the protection of the Rwandan Police peacekeepers.

The head teacher, Mamadu Adoum, described the communal exercise as “valuable.”

“This is a valuable culture to our students and the young people in general, who are the hope of this country. You have showed them how to be solutions to the challenges they face, and as teachers and parents, we value that a lot,” Mamadu said.

While expressing their gratitude to the Rwandan peacekeepers for initiating the exercise and choosing their school, the head teacher said they will adopt Umuganda as part of the school disciplines.

Elias Mwesigye, the coordinator of Rwandan Police peacekeepers in CAR, explained that Umuganda is a Rwandan tradition that responds to socio-economic challenges.

“Rwanda went through one of the worst forms of conflict – a genocide – but Rwandans decided to reunite after the liberation. Rwandans decided to take the path of unity and reconciliation to reconstruct their country and Umuganda is one of the home-grown solutions that drive the agenda of transformation,” Mwesigye said.

He added: “Umuganda is one of our values that enhances the sense of peace, and builds trust and confidence among the people.”

There are about 450 Rwandan police peacekeepers serving under MINUSCA.

Rwanda

Country’s Economic Outlook As Stable – Fitch Ratings

Fitch Ratings, a global leader in credit ratings and research, has again affirmed Rwanda’s economic outlook as stable. Read more »

Tanzania: Buyers Cheat Farmers On Weight

Prime Minister Kassim Majaliwa has instructed the Weights and Measures Agency (WMA) Director to make adjustments on scales in all cashew nut warehouses to avoid weight variations on the delivery of the cash crop from Agricultural Marketing Co-operative Societies (AMCOS).

He said it was high time for the agency to suggest a variety of scales used in measuring cashews to curb disloyal acts. Mr Majaliwa issued the directives in Dodoma yesterday during the opening of the annual general meeting of cashew industry stakeholders.

“There is something fishy going on.

Every cashew consignment brought at the main warehouse – as you can find – is a hundred to a thousand kilogrammes lighter. It is impossible that 10 tonnes of cashew in your weight reads eight tonnes,” he noted.

He added, “Your scales do not appear to read 12 tonnes higher than the actual weight. Make sure you work on this matter once and for all.

We cannot tolerate this theft anymore.” The premier further said that the government has continued to strengthen and improve the warehouse receipt procedures. He added that in the agricultural sector they want to ensure that farming becomes an important part of strengthening the economy, increasing income to farmers and stimulating industrial growth and to create more jobs.

The report of the Minister for Agriculture, Livestock and Fisheries, Dr Charles Tizeba, released by the Central Bank of Tanzania (BoT) in February, this year, revealed that cashew nut is one of the leading cash crops that earn the country foreign currency.

“Cashew nut is one of the main cash crops in the country and regions like Dodoma, Morogoro, Iringa, Njombe and Mbeya have commenced cultivating it, thus increasing the number of the crop’s major producing regions reaching 11 or 40 districts, ” he said.

Dr Tizeba urged the Cashew nut Board of Tanzania (CBT) to ensure they become vigilant on the quality of imported pesticides by making sure they use local experts to inspect it before it reaches farmers.

He said that this year’s season the government will give out sulphur powder free of charge to farmers for cashew crop sprays. Sulphur powder is preferred among other chemicals because it is effective, locally available and has a relatively low toxicity.

Tanzania

Govt Brushes Off Ex-Prime Minister’s Criticism Against Magufuli

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Tanzania: Govt Shuts Down Mbinga Community Bank

By Hellen Githaiga

The Bank of Tanzania (BoT) Friday revoked the business licence for Mbinga Community Bank (MCB) citing lack of sufficient capital.

The central bank also placed Mbinga under liquidation, making it the second lender this week to fold, as the country moves to streamline its financial sector.

“The Bank of Tanzania has decided to take possession of Mbinga Community Bank, discontinue its operations, revoke its banking licence and place it under compulsory liquidation,” the regulator said in a statement on Friday.

BoT appointed the Deposit Insurance Board as the liquidator and appealed to the bank’s clients to be patient as DIB puts in place a compensation plan.

Mbinga, a microfinance institution, has been operating in Ruvuma in southern Tanzania. Its main customers are farmers.

The lender was licenced in 2003 and its total assets as at 2014 was Tsh383.4 million ($171,930).

The central bank said the move was taken after it determined that “the bank is critically undercapitalised and insolvent” adding that its if the lender continued its operations in its current capital and liquidity condition, it would be “detrimental to the interest of its depositors and poses risk to the stability of the financial system.”

On Monday, BoT placed troubled international lender FBME under liquidation after it was accused of money laundering by the American government.

Last October, BoT put government-owned Twiga Bancorp in receivership for lack of adequate capital.

Tanzania

Locals Left Counting Loses After Heavy Rains

With the heavy rains continuing to wreak havoc in most parts of the country, damaging infrastructure, cutting… Read more »

Bank of Tanzania Revokes Mbinga Community Bank Licence

By Rosemary Mirondo

Dar es Salaam — Bank of Tanzania (BoT) has revoked the business licence of Mbinga Community Bank after the bank’s capital fell below the required levels.

Mbinga Community Bank becomes the second institution to be closed by BoT this week after similar measures were taken against FBME bank, though for totally different reasons.

A statement released by BoT to the media Friday indicates that the central bank has decided to take possession of the bank and discontinue its operations as well as place it under compulsory liquidation.

BoT has also appointed the Deposit Insurance Board (DIB) as the liquidator effective from Saturday.

The measure was taken upon determination by BoT that the bank was critically undercapitalized and insolvent hence violating the requirements of the Banking and Financial Institutions Act of 2006 and its regulations.

The Act requires a bank’s capital not to fall below Sh15 billion. However, BoT statement didn’t state by how much Mbinga Community Bank’s capital has fallen.

“If the bank will continue with its operations with the current capital it will be detrimental to the interest of its depositors something, which will pose risk to the stability of the entire financial system,” reads the statement in part.

Tanzania

World Bank Gives Magufuli’s Govt U.S.$130 Million for Cities

World Bank (WB) has poured 130 million US dollars (some 286bn/-) as a second additional financing for Tanzania Strategic… Read more »

Tanzania: Bank of Tanzania Revokes Mbinga Community Bank Licence

By Rosemary Mirondo

Dar es Salaam — Bank of Tanzania (BoT) has revoked the business licence of Mbinga Community Bank after the bank’s capital fell below the required levels.

Mbinga Community Bank becomes the second institution to be closed by BoT this week after similar measures were taken against FBME bank, though for totally different reasons.

A statement released by BoT to the media Friday indicates that the central bank has decided to take possession of the bank and discontinue its operations as well as place it under compulsory liquidation.

BoT has also appointed the Deposit Insurance Board (DIB) as the liquidator effective from Saturday.

The measure was taken upon determination by BoT that the bank was critically undercapitalized and insolvent hence violating the requirements of the Banking and Financial Institutions Act of 2006 and its regulations.

The Act requires a bank’s capital not to fall below Sh15 billion. However, BoT statement didn’t state by how much Mbinga Community Bank’s capital has fallen.

“If the bank will continue with its operations with the current capital it will be detrimental to the interest of its depositors something, which will pose risk to the stability of the entire financial system,” reads the statement in part.

Tanzania

World Bank Gives Magufuli’s Govt U.S.$130 Million for Cities

World Bank (WB) has poured 130 million US dollars (some 286bn/-) as a second additional financing for Tanzania Strategic… Read more »

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