SWAHILI MAGAZINE

                                                                     THE ongoing mini-transfer window shapes as make or break for a host of Mainland clubs, with title heavyweights busy in the market looking to bolster their squads after a battling start to the new campaign. The month-long transfer window, which opened on November 15, represents a chance for clubs to give their teams a boost but once again it is the big clubs that are dominating the market. Defending champions Azam FC have reacted to their recent stuttering form by sealing the signing of Ivorian defender Paschal Serge Wawa on a two-year contract. Wawa’s transfer from Sudanese giants El Merreikh has been hailed as a good deal that is expected to bolster the Tanzanian side not only on the domestic front, but also in the CAF Champions League. Joseph Om...

ONE would often observe that whenever we want to open a new bank account with any bank, one of the forms which we are asked to fill is called ‘KYC’ form. What does this acronym ‘KYC’ mean to a normal human being? The expanded form of ‘KYC’ is nothing but it stands for - “Know Your Customer”. This famous acronym i.e. ‘KYC’ is very popular in the banking/ financial industry across the world. “Know your customer (KYC)” is the due diligence that banks/ financial institutions and other regulated companies must perform to identify their clients and ascertain relevant information pertinent to doing financial business with them. ‘Know your customer (KYC)’ policies are becoming increasingly important globally to prevent/ identify transactions relating to theft, fraud, money laundering and terrorist financing etc. Howsoever influential one might be no bank of professional standing will open an account until that customer passes the mandatory ‘KYC’ guidelines/ procedures. That being the practice ...

ABOUT 3.6bn/- has been issued for the implementation of Mara Regional Hospital projects in the financial years 2011/12 and 2013/14. The Deputy Minister in the Prime Minister’s Office, Regional Administration and Local Government, Mr Aggrey Mwanri, said 256,173,000/- was spent on compensations and 3,365,939,000/- was spent on construction. He said that in 2014/15 the government has set aside 2.2bn/- and already the region has been given 287,145,000/- to continue construction work at the hospital. The Deputy Minister said that preparations to get a contractor for the second phase of the project is still on, and the government will be setting aside funds as they are available. Mr Mwanri was responding to a question by Musoma Urban MP (Chadema), Mr Josephat Nyerere, who wanted to know if the government will fund to complete implementation of the projects. Mr Nyerere also questioned...

Led by nominated MP James Mbatia, legislators termed it as intrusion of Parliamentary powers and thus in contravention of Parliamentary Powers, Rights and Privileges Act No.3 of 1988 Soon after the morning Questions-and-Answers session, Mr Mbatia raised the matter that had led to the weekend’s arrest of the suspect who was found with the documents. Mr Mbatia said the suspect was arrested on Sunday following a complaint filed by the Clerk of the National Assembly, Dr Thomas Kashilila. The suspect was found with three different documents, two of which bore the official rubber stamp of the office of the Clerk. The other one did not have any stamp. Mr Mbatia called on the Speaker, Ms Anna Makinda, to first suspend the day’s Bunge activities to open the floor to debate on the matter, including how the documents had left the Parliament’s precincts. Ms Makinda intervened saying it was not yet clear how the suspect acquired the said documents, but that it would be more procedural if the House ...

TANZANIA has stepped up the state’s financial support to the agriculture sector, which at the moment is clocking 1 trillion/-, according to the Bank of Tanzania (BoT) Governor, Professor Benno Ndulu. “Although it is still low, the share of lending to agriculture to total lending to private sector by the banks has increased from the average 9.6 per cent in 2008 to nearly 12 per cent by the end of 2013, against the backdrop of rapidly expanding total credit to the private sector,” stated Prof Ndulu. Speaking at the ongoing 17th Conference of Financial Institutions (COFI) taking place at the Arusha International Conference Centre (AICC) here, the central bank chief pointed out that in absolute terms, credit to agriculture increased from an average 700 billion/- in 2008 to over one trillion/- at the end of last year. The theme of this year’s conference is ‘Financing Agriculture and Agribusiness in Tanzania: Challenges and Opportunities’ and reflects the need to increase financial resources...