Browsing: Banks in Tanzania

tanzania banks

NMB is also listed on the Dar es Salaam Stock Exchange (DSE) and has been tracking rather promising records. According to DSE daily market highlights, NMB’s closing price stood at TShs. 2,340 and the previous closing price was TShs. 2,340.

The bank’s largest shareholders are strategic partners Arise B.V with a 34.9 per cent shareholding and the government of Tanzania with a 31.8 per cent shareholding.

According to NMB, alongside its financial achievement, “the Bank has also received several awards, highlighting the growth trajectory of the institution. In 2020, NMB’s achievements led to internationally acclaimed recognition as the Safest Bank in Tanzania by Global Finance magazine, and being named Best Bank in Tanzania for 8th consecutive time by Euromoney magazine,”…

The monthly economic review produced by the Tanzania central bank (BoT), depicted rather positive prospects of the economy, such as inflation, fuel prices and food stocks, despite the grim grip of the coronavirus (COVID-19), which hurt several sectors of the economy.

The report published on Tuesday, marking the financial year ending June 30, 2020, also displayed good performance of the exports, foreign exchange reserves and interest rates.

Revenue collection

Government budgetary operations took a slight hit, as the domestic revenue collection performed below the target due to the virus grip, standing at almost $559,000.

“However, the collection was higher than in the corresponding %54.4 million and an increase of $ 867.1 million from the end of the preceding month and the corresponding month of 2019, respectively. Much of the external debt stock was central government at 78.2 per cent” the monthly review noted.

Domestic financial markets

According to the central …

Tanzania endeavors to become a middle-income economy by 2025 with a desired per capita income of USD 3000; this will be a monumental step towards economic development and growth for the country.

These aspirations can only be achieved by investing in human capital, in particular creating equal opportunities for women and men. Human capital is the driver of economic transformation and according to the National Bureau of Statistics (NBS) the population currently stands at 54 million and is projected to reach 67 million by 2025. Currently, women comprise 51.3 percent of the population, and while they play a key role in household resilience and sustaining livelihoods within Tanzania’s current economy, they face considerable challenges in other areas. For Tanzania to realize its development ambitions to attain middle-income status, these obstacles need to be addressed in order to create a level playing field that empowers women to be involved in the …