Posts tagged as: director

RURA – Regulating for Safety, Fairness and Efficiency

By Joseph Mudingu

In line with its policy of economic development and good governance, the Government of Rwanda established the Rwanda Utilities Regulatory Authority (RURA) to contribute to the achievement of its socioeconomic goals.

PATRICK NYIRISHEMA, the RURA Director General, explains about the mandate and what the institution has been able to achieve in the past seven years. The New Times’ JOSEPH MUDINGU writes.

RURA as a multi-sectoral regulator was established in 2002.The whole idea of the government deciding to put up a multi-sectoral regulator was to create an institution that can build capacity and synergies across different sectors that drive economic development.

RURA regulates all the utilities that include ICT, Transport, and Energy sector, Water, Sanitation and Media

Unlike many countries which have delegated regulatory authorities, Rwanda decided to establish one that is efficient and cuts across all utilities.

From the establishment of RURA, a lot has happened from 2010.

Operational Mandate

As a regulator, RURA sits between the government which is the policy maker, the private investors who are the operators and the consumers.

The regulators’ mandate is primarily to ensure that government policies have been put in place and that they are being implemented by the service providers.

At the same time, we also make sure that the private investors in different sectors are profiting and are able to sustain their operations, getting return on investment.

We also ensure that while in the private sector people are making profits, the services are affordable to the citizens. So as regulators we work between the policy makers, private investors and the consumers.

In line with that mandate then, what we have done as RURA over the last seven years was to build the right capacity to be able for example to have economic regulation tools in place that help us set tariffs in various sectors like transport, electricity and water.

RURA recently started to handle tariffs in petroleum, sanitation services and even in sectors that don’t have tariffs; we put mechanisms in place to make sure that services are affordable, reasonable and fair in ICT and Telecom sectors.

Technical capacity

In terms of building technical capacity, RURA has built technical capacity to be able to monitor quality of service in the telecommunication sector, to be able to manage spectrum and use of frequency in the country.

We have also built capacity to be able to verify international traffic, transport sector by being able to inspect and track and to make sure that the policy objectives are being accomplished and that operators are fulfilling their obligations.


In the ICT sector, from 2010 to 2017 there has been an increase of 5.3 million from 3.1 million mobile subscriptions to 8.4 million today.

On internet penetration, there has been an increase from 1.6% to 36%. The ICT sector received the highest Foreign Direct Investments in 2016.

There has been an increase in subscriptions because internet is more affordable than ever before. In 2014, the Alliance for Internet Affordability ranked Rwanda as number one in Africa.

ICT sector is an enabler that has allowed for connections and communication with suppliers, consumers and partners, saving time and resources.

When the Northern Corridor Initiative Projects created a one area network, traffic grew four times from 2 million minute calls to 10 million minute calls. In-between the increment, transactions are growing and businesses are expanding, taxable incomes increasing and institutions that are IT intensive-based all benefiting.


In the transport sector, a new transport policy was put in place in 2013 and we have since done a lot of transformational changes in the transport sector.

We have moved from a time when transporters in Kigali would wake up in the morning and decide where to operate depending on where they think they can get passengers or change direction half way through journey.

Today there is zoning in the whole city where operators are accountable with specific working hours from 5am to 11pm in the night.

We have moved from having small mini-buses to big buses which of course not only increase our capacity for mass transit but also help reduce traffic congestion in the city.

Some buses on routes between Kigali and the rest of the country have introduced electronic ticketing that has brought a lot of efficiency in the delivery of service in the intercity transport sector.

Though we still have three years to 2020 and that we have ambitious targets to meet in various sectors, we can confidently say that a lot has been accomplished.


In the energy sector we have moved from a time when it was 100% government involvement in electric generation and distribution to a time now when we have a lot of independent power producers in the market who have been licensed to produce electricity and feed the grid.


There have also been significant strides in re-organization of sanitation services, put in place proper licensing frame work, tariff benchmarks and works for the local government to ensure that every single sector in Kigali has a solid waste collection company which wasn’t always the case.

Every single commercial premise and households in Kigali today are accessible by a solid waste company.

For a country that is striving for a clean, green environment, sanitation services are very crucial and for Rwanda there has been a lot of progress there.


Rwanda was among the seven countries in Africa that were able to immigrate from analog to digital broadcasting in record time.

At global level the target was June 2015 and Rwanda was able to do it one year earlier in July 2014 which is an accomplishment worth noting.

Visionary leadership

We have benefited as an institution from the visionary leadership of his Excellency President Paul Kagame where in all these sectors he has taken the leadership most especially in the ICT.

The clear policy direction and the commitment have been given at a national level and from all the other efforts that have created a good environment for investment.

The national effort to create a very business friendly environment is something that has helped RURA in accomplishing her mission.


As a regulator, RURA works with other regulators and institutions that have different mandates in the various sectors that we regulate.

For example, the Standards Board puts a standard in place and based on that standard we put a regulation that is enforceable.

The Standards Board, for example, puts the standards that a petrol station has to meet and RURA puts a regulation that requires all petrol station operators to meet those standards.

Another example is the Central Bank which regulates financial services like mobile money yet it is a service offered by telecom companies that are licensed and regulated by RURA.

So RURA has established an MoU with the Central Bank that defines various roles and responsibilities to make sure that there is no overlap.

For the city of Kigali, we work with them in many things regarding all the services in the city. When the City, for example issues a construction permit, RURA follows it with an installation license.

There is a joint inspection term in the transport sector comprising of RURA, City of Kigali and National Police which ensures that all the transport companies are complying with the laws and regulations and that quality services are being delivered.

So as RURA, we coordinate our efforts with the city of Kigali across all the sectors we regulate like electricity, water, by making sure that all the residents in city of Kigali have access to these services.

One last comment I can make is that we have not had any difficulty in coordinating with other institutions and we have only benefited with these institutions that have played different roles that were needed for private investors to succeed.

N.B: This is a sponsored article

Fake Insurance Cover Schemes Haunt Sector

By Issa Yussuf

Zanzibar — The Managing Director of National Insurance Corporation (NIC), Sam Kamanga has emphasized to member states of the Common Market for Eastern and Southern Africa (COMESA) to ensure that hitches hampering use of Yellow Card Scheme are removed.

Speaking on the sideline of the 42nd meeting of the COMESA management committee of the Yellow Card Scheme, he said efficiency of the service would be enhanced by computerizing operations of the scheme to curb forgery.

“So far the insurance business has been good and Tanzania has the chance to benefit more in the region because most of the vehicles pass through in the country,” he said.

Mr Kamanga said adding that fake insurance remains a problem and that they have been working with the police to stop the production. He said differences of official languages and legal framework regarding foreign financial operation have delayed the plans to introduce electronic payment, which is expected to end fake yellow cards.

According to the NIC board chairperson Mr Laston Thomas Msongole, the Yellow Card is essentially a Regional third party motor vehicle insurance scheme that provides third party legal liability cover and compensation for medical expenses resulting from road traffic accidents caused by visiting motorists.

He said besides offering third party liability protection to the insured or the driver whilst in a foreign country, the COMESA Yellow Card Scheme also offers emergency medical cover to the driver and passengers of the foreign motor vehicle involved in the traffic accident.

In his speech to open the meeting, the Zanzibar Minister of Finance Dr Khalid Salum Mohamed said asked members to create awareness and that the yellow card must be relevant to travelling motorists, road accident victims, insurance companies and the public in general.

“Accordingly, the general public in our countries and beyond also needs to be aware of the opportunities that are brought by these instruments.”

Ms Immaculate Morro- ‘COMESA Yellow Card Scheme’ Country Coordinator, said the scheme is currently operational in twelve COMESA Member Countries and one non COMESA member Country: Burundi, Democratic Republic of Congo, Djibouti, Eritrea, Ethiopia, Kenya, Malawi, Rwanda, Sudan, Tanzania, Uganda, Zambia and Zimbabwe.


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Nigeria: NAMA Commends Govt for Return of Flight Operations to Abuja

By Chinedu Eze

The Managing Director of the Nigerian Airspace Management Agency (NAMA) Capt. Fola Akinkuotu has commended the Minister of State for Aviation Senator Hadi Sirika for the successful repair and delivery of the Abuja Airport runway, saying it was a major confidence booster for the air transport sector.

The NAMA boss said by delivering the revamped runway ahead of schedule, the minister was “sending an unambiguous message to stakeholders and investors, both foreign and local that Nigerian aviation industry is ready to do serious business, so the travelling should believe in the administration.

Akinkuotu, who made this remark in Lagos recently, also applauded the role played by the Governor of Kaduna State, Mallam Nasir El-Rufai, Minister of Transportation, Rotimi Amechi, Minister of Finance Mrs. Kemi Adeosun, and other cabinet Ministers for their efforts in making the project a success.

“They all showed uncommon leadership here. They rallied everyone behind them. In fact, Senator Sirika worked round the clock. He took nothing for granted. He was on ground in Abuja and in Kaduna all the time. He has been exemplary. That’s why he succeeded,” Akinkuotu said.

Akinkuotu who noted that during the closure of Abuja, Kaduna Airport recorded well over 3, 000 domestic flights said the presence of NAMA’s air traffic controllers in sufficient numbers and the upgrade of landing aids by the agency engineers contributed in making that feat a reality.

He also commended technical and operational staff of the agency for ensuring that NAMA played a critical role in the smooth running of Kaduna airport.

“I must commend them for displaying such diligence. They are well trained and motivated and it showed in their commendable performance. I will continue to build their capacity to enhance our air navigation service delivery,” the NAMA boss.


Economy Would Be Out of Recession By Second Quarter – Central Bank

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Burundi: Malaria Still an Epidemic in Burundi

By Innocent Habonimana

The situation of malaria still calls for more control actions a month after the disease was declared an epidemic on 13 March by the Ministry of public Health.

Dionise Nizigiyimana, the Director of the National Integrated Programme for the Fight against Malaria (PNILP) says “though, nationally, its registered cases tend downwards, malaria is still an epidemic on the 15th week of 2017”.

He says that 2,745,417 cases of malaria have been registered by the 15th week of 2017.

Critical situation is mainly faced by northern, eastern and southern regions of Burundi that are still beyond the epidemic threshold.

In some of the provinces of the regions such as Kirundo, Cankuzo and Karuzi, the prevalence rate is beyond 100 per cent.

Nizigiyimana says, the cases of malaria have remarkably diminished in the province of Ngozi where piloting study of the efficiency of indoor residual spraying was carried out in two health districts.


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Nigeria: CBN Offers $100 Million in Wholesale Forward As Naira Closes N385/$

By Babajide Komolafe

The Central Bank of Nigeria (CBN) Thursday continued its intervention in the foreign exchange market by offering $100 million to banks to meet the requests of wholesale customers at the forex auction in the interbank wholesale window.

Meanwhile the naira fell slightly today to N385 per dollar in the parallel exchange market from N382 per dollar.

According to Acting Director, Corporate Communications Department at the CBN, Mr. Isaac Okorafor, confirmed the intervention in the forex market adding that no intervention was made in the retail window in yesterday’s auction.

He, however, disclosed that the Bank continued its weekly sale of forex to the Bureau de Change (BDC) segment to meet the needs of low-end users.

Furthermore, he said the CBN had observed that quite a good number of dealers were adhering to the forex guidelines. Nevertheless, he said the CBN will continue to monitor the activities of authorized dealers to ensure that no outfit or individual circumvents the laid down forex rules.

While urging all concerned to put the Nigerian economy first, he reiterated that the CBN was determined to guarantee the international value of the naira.


There’s No Boko Haram Resurgence, Nigerian Military Assures

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Why DNA Testing Is On the Rise in Rwanda

Photo: Wikipedia

DNA, or deoxyribonucleic acid, is the hereditary material in humans and almost all other organisms.

analysisBy Sharon Kantengwa

It could be for purposes of proving infidelity, a court order, or just curiosity, but based on what we found out recently, DNA testing is on the rise in Rwanda.

According to Lancet Laboratories, a pathology laboratory that, among other services, carries out DNA tests, an average of four clients flock their offices every month to carry out a DNA test, mostly for paternity reasons.

However, within just 15 months of its existence, Rwandans are quickly catching up with the global trend, voluntarily and involuntarily, despite being a costly procedure.

Dr Ahmed Kelebi, the Group Managing Director and a consultant pathologist at Lancet Laboratories, reveals the three main reasons why clients visit the lab.

“Some people carry the tests out of curiosity to know if their parents are truly theirs. Others do it because of a court order for inheritance or child upkeep purposes, and then others because someone died and another one came up with paternity claims,” he says.

The state of paternity tests in Rwanda

Theo Badege, the Police spokesperson, argues that before the emergence of private laboratories, paternity tests were only carried out under the law. Rwanda’s national police under the Forensic Club worked strictly with the judicial system where blood samples were taken to external foreign laboratories for testing.

“The police would work with the Forensic club that has technicians abroad on orders from the judge to carry out investigations in civil cases,” Badege says.

Robert Mugabe, a lawyer based in Kigali, reaffirms Badege’s statement, noting that there were several cases of paternity cases in court, especially during the post Genocide era in Rwanda, with many victims of rape reporting such issues.

They were, however, strictly regulated by the judiciary to avoid family conflict.

“It is the right of every human being to know the truth and find out who their real parents are but the law is also required to protect citizens. Paternity tests were carried out strictly on court order with assurance that family conflicts will be well handled despite the urge by individuals to carry out the tests,” he says.

Times have since changed however. According to sources from the private laboratory, a blood sample, the parents’ identification and the child’s birth certificate are required to do a DNA. The procedure is made easier by doubting partners and their children.

Fuelling family conflict

The Lancet Laboratory told The New Times that one in every four of the people who go for tests is not the father of the child.

Dr Kelebi, however, reveals that although maternity tests can also be carried out, for obvious reasons, paternity tests are the most common ones. He admits that arguments often ensue between the couples with women being accused of infidelity.

Request for a paternity test can also be a daunting issue that may question the trust of the man and would automatically lead to home breakage.

“I would question his trust towards me if such a request came up. I would definitely know who the actual father of the child is but for curiosity’s sake, I would let him have the paternity test, rest assured that my relationship with him afterwards would never be the same, in the negative sense,” Bella Mbabazi, a wife and mother of three, says when asked about what her reaction to a paternity test would be.

Lilliane Umuhoza, a mother of one, agrees with Mbabazi.

“I would be very disappointed. That is a polite way of telling me that he has trust issues. And, it also shows that he has been having extra marital affairs and he is not sure of the children he has fathered,” she says.

For the men, the reason for carrying out paternity tests is mostly to avoid raising a child that is not theirs.

Samuel Gatare, a married man, believes that one cannot ignore the fact that extra marital affairs are rampant. A DNA test will always come to one’s rescue.

“If a woman claims that the baby she is carrying is mine, I would request for a DNA test immediately after it is born to save myself future embarrassment and a waste of time,” he says.

Mugabe, however,says that according to article 256 of the new family law of 2016, every child, whether born out of wedlock or legally, belongs to the married couple in question.

According to him, paternity tests can only be a waste of time for curious citizens, after all, “biological parenthood does not mean being responsible.”

“It is very disappointing and a daunting experience when you discover that parents you initially thought were yours are actually not yours. It is better you stay away from such trauma,” he adds.

Dealing with the news

The need to belong is a necessity. This need might, however, not be all rosy for most victims.

Jackline Iribagiza, a Kigali-based counselor, advises victims of such cases to be tolerant simply because ‘it is part of life.” The truth is sometimes bitter.

“Even before proof from DNA tests, it is right to tell the spouse or child the truth because not only do they deserve it, truth gives one a peace of mind. The earlier they find out, the better. Knowing the truth saves you more trouble than finding out from a third party,” she says.

Due to the possible conflicts such tests bring to families, the Rwandan government under the law that governs families is in the process of regulating laws to avoid conflicting cases, according to Mugabe.

Citizens will be required to carry out the paternity test only with permission from the court.

DNA explained

Scientifically, DNA, known as Deoxyribonucleic acid is a double helix, with sets of nucleotides that contain genetic information. DNA is a molecule that contains the instructions an organism needs to develop, live and reproduce.

Dr. Kelebi explains that one’s kind of appearance and how the body is built is determined by their DNA, which has genes in it.

“A person carries a half of their father’s genes and the other half their mother’s, which is why we can carry out maternity, paternity and kinship test,” he says.

According to Dr Kelebi, the latter is only a probability test while the rest are 99.9 per cent certain.

Also, having similar or different physical features from the parents does not guarantee the test of the results.

In Rwanda, only blood samples can be used for testing although testing is still being carried out abroad.

The cost for a DNA test is Rwf 311,900 and it takes two to three weeks to get the results. Lancet laboratories will be opening a branch in Rubavu District in the Western Province to extend services closer to the people.


YOUR VOICE: Should couples carry out DNA tests?

DNA testing should not be about marital issues. It should be about the child’s right to know the truth. In that sense, it should only be carried out when both the child and mother are not sure who the real father is to help the child have a sense of belonging.

Hope Kabera, housewife

For cheating couples, it should be a dire need. You cannot stand living a lie all your life. I think it is fair to tell the truth and let people decide what they want to do instead of trying to hold on to them through falsehood. The lies would eventually kill the marriage, so it’s like ripping off a Band-Aid.

Ritah Kamikazi, businesswoman

The earlier they found out the truth, the better. If DNA helps reveal the truth, then why not go for it. You just can’t risk the chance of him finding out from someone else. That would be so cruel.

Honest Twizeye, entrepreneur

People cannot be trusted these days which is why you cannot question another’s curiosity. DNA can only reveal the truth whether we like it or not because refusing to test is suspicious. I think that the idea of DNA can only reduce cases of extra marital affairs.

Pidson Bemanya, social worker

Other than being irresponsible, why would a man doubt his own child? Couples should let things remain the way they are to avoid conflict because every child, whether yours or not, is a blessing and your responsibility. Why try to bring up trouble when you have peace?

Anna Tumwesigye, banker

Rwanda: Malaria Day – Call for Effective Policies to End the Tropical Disease

Photo: The New Times

A mother and her child sleep under a mosquito net. This is one of the methods to fight against malaria (file photo).

By Donah Mbabazi

Eliminating malaria requires sustained and robust financial investment as well as having national programmes that are backed by effective policies, Dr Juliet Bataringaya, the World Health Organisation country representative has said.

Bataringaya was speaking during belated World Malaria Day event in Huye District on Wednesday.

The day, conducted at the community level, was marked by different activities on malaria prevention such as educating communities on proper use of bed nets, door-to-door mobilisation about In-door residual spraying and free testing and treatment of malaria.

The theme for this year, “End Malaria for Good,” has a special focus on closing the preventive gap for malaria and the need to accelerate and sustain efforts to defeat the tropical disease.

Malaria is still a global and regional priority and continues to kill over 400,000 people around the world each year.

Dr Bataringaya said that, though an ambitious target, ending malaria for good is achievable.

The 2016 World Malaria Report shows that new malaria cases dropped by 23 per cent and malaria deaths by 31 per cent. Most of the prevented deaths were children under five.

“Despite progress made at the global and regional level, malaria remains one of the deadliest diseases. The achievements registered, however, reflect the extra-commitment of individuals, families and communities, healthcare workers and authorities and partners,” Bataringaya said.

She called on different stakeholders to scale up efforts and sustain them but also applauded the steps taken so far.

From 2016, the Government of Rwanda and partners developed and implemented the malaria contingency plan with a multi-sectoral approach to address malaria case.

The programme for home-based management for malaria at the community level runs countrywide to reduce the burden and prevent severe malaria. For example, the coverage of mosquito nets is universal.

A critical strategy to prevent malaria has seen increased use of insecticide treated bed nets and indoor residual spraying with results said to be impressive.

The Director-General of Rwanda Biomedical Centre, Jeanine Condo, said malaria still affects many people.

In March, among the first 10 districts that had many malaria cases, six were from Southern Province, the reason the day was marked in the region.

These included Huye, Nyanza, Ruhango, Kamonyi, Muhanga and Nyaruguru.

“We need to work together to eliminate malaria. Today, we start the activity of residual spraying in Huye and Nyanza and we also remind people that everyone has a role to play in fighting malaria by starting from where they live, ensuring proper usage of mosquito nets and also keeping a clean environment,” she said.

Revocat Murekatete, a community health worker in Huye, said malaria is one of the commonest disease they attend to.

“We still have the issue of malaria yet we always encourage people to sleep under mosquito nets. However, after this outreach we are optimistic that malaria cases will decrease,” she said.

Economy Showing Signs of Recovery – Survey

Photo: Faiswal Kasirye/Daily Monitor

A man counts Uganda Shillings (file photo).

By Mark Keith Muhumuza

Kampala — A survey of 400 private sector companies indicates that they are increasing output and production, with prospects for the economy recovering.

The Stanbic Bank Uganda Purchasers Managers Index (PMI), a new monthly index, was launched in Kampala on Wednesday as a survey of business conditions in the country.

According to the survey, in the nine out of 10 months of data collected, there has been a recorded expansion in the economy.

“Uganda’s private sector is recovering from the effects of the last election cycle and the global economic slowdown. At 53.5 in March 2017, up from 50.9 in February 2017, the seasonally adjusted PMI pointed to further improvement in business conditions for private sector firms in March,” Ms Anne Juuko, the head of global markets said at the launch of the inaugural PMI report for Uganda at the Kampala Serena Hotel.

The recovery was seen in the agricultural, industry, services, wholesale and retail segments.

This optimism from business leaders in the private sector also comes at a time the economy is poised for slower growth than projected in the financial year 2016/17.

Bank of Uganda (BoU) projects the economy to struggle to reach 4.5 per cent growth in 2016/17.

Most of this, according to BoU is a factor of adverse weather conditions and low economic activity in the six months to December 2016.

However, according to Mr Patrick Mweheire, the Stanbic Bank Uganda chief executive officer, the trend being seen in the economy is that the second half of the financial year is showing signs of recovery in the business environment.

“There are a number of things in the economy showing that the economy is trying to cool. When you look at private sector credit, it is improving. We believe that that is going to improvement investment in the economy,” he said.

Additionally, Mr Chris Mukiza, the director macro-economic statistics at the Uganda Bureau Statistics said: “More optimism is from the improving weather conditions in the economy.”

Uganda is the 32nd country in the world to use the PMI, which has become a globally recognised data indicator to show the situation in several economies. The data survey measures output by companies, job creation, costs of operations, pricing and purchases among others. For improving market conditions, the average weight is above 50 and when business conditions are bad, it drops below 50. When it is a flat 50, it shows economic conditions are not changing.

Tanzania: Use Weather Data to Boost Economy, Farmers Urged

By Abela Msikula

Tanzanians, particularly farmers, have been urged to effectively utilise weather information, as efforts to transform the country into an industrial economy.

It is because the transformation depends much on the agriculture sector, mostly for provision of raw materials, enough to feed all industries; the Deputy Director for Centre for Foreign Relations (CFR), Benard Achiula, said.

He was speaking on Tuesday during the winding up of Protocol and Public Relations short courses availed to Tanzania Meteorological Agency (TMA) staff by his organisation.

CFR offered a five-day short course from 21 to 25 of April, with intention of increasing expertise in communication, given that TMA personnel communicate with the world. “The same effectiveness in communication means a lot for our farmers, as it will tell when to engage in farming activities.

The information also helps agriculture experts to direct how and which kinds of crops to grow in certain areas,” he said.

He added that apart from promoting industrialism, reliable weather information contributes to the national economic growth through the tourism sector, since it tells foreign tourists when to conduct tours in the country.

TMA Director General (DG), Dr Agnes Kijazi urged participants to effectively apply the knowledge; saying the organisation’s information was useful world-wide, not only to Tanzanians. She clarified that TMA exchanges weather information with other Agencies in the universe through the World Meteorological Organisation (WMO), hence, the graduates should consider, precision, clarity and professionalism when communicating with the world.

“Weather information has lots of benefits, locally and internationally. For instance, when the information leads to the increase of agricultural products in Tanzania, the same information gives status of the climate world-wide.

This is where environmentalists get the start on how to tackle climate change, a serious challenge facing the universe,” she said. At the same time, the DG advised Tanzanians to effectively utilise the on-going rains for farm activities; insisting that as TMA announced earlier, the country will continue experiencing rains until the end of next month.


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DCB Bank Sets Foot in Dodoma

Dodoma — The DCB Bank has inaugurated its new branch in the designate capital-Dodoma, with a call to entrepreneurs and the entire business community in the region to use the opportunity to expand their activities.

The bank which among other targets to empower entrepreneurs through issuing them loans at competitive interest rates, focuses to reach 4,500 entrepreneurs between this month and December, according to the Bank’s Managing Director, Mr Edmund Mkwawa.

Speaking at the opening ceremony that was also attended by the Minister in the President’s Office – Regional Administration and Local Government, Mr George Simbachawene, the MD said they target to reach other remaining six districts in the regions by October this year.

The MD said the bank started business as a regional microfinance institution in 2002 and the following year it was issued with a licence to carry out banking business. According to Mr Mkwawa, the bank was listed to the Dar es Salaam Stock of Exchange (DSE) in 2008, making it the first financial institution to be listed to the stock market.

He said the bank has been steadily growing, noting that the deposits have reached 117.5bn/- up from 1.8bn/- recorded in 2002. Mr Mkwawa asserted that during its operation, the bank has been able to dish out 526.4bn/- as loans to 467,851 customers, promising that providing loans to its customers is one of its main role.

In this year, Mr Mkwawa noted that the bank aims at recording 3.2bn/- as profit after tax and issue loans to its customers amounting to about 105bn/-.

He appealed to the residents to build confidence on the bank, insisting that it remains one of the best financial institutions which offer good services to its customers.

The Vice Chairman of the Board, Prof Lucian Msambichaka, said Dodoma becomes their first branch outside Dar es Salaam, where they have been operating for the past 15 years. He thanked Dar es Salaam region leadership for cooperating with the bank in various areas and said they expected the same from Dodoma regional authorities.

Prof Msambichaka promised that the bank will continue with its mission of ensuring that it contributes to the economic and social development in Tanzania for Individual, Micro, Small and Medium Enterprises, and Corporate by developing specialised financial products and services.


Gold Regains Status As Tanzania’s Top Export

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