Haitakuwa lazima tena kwa kila mhitimu wa Shahada ya Sheria kupita Taasisi ya Mafunzo ya Uanasheria kwa Vitendo Tanzania (LST), iwapo hana mpango wa kufanya kazi za uanasheria katika utumishi wa umma.Continue Reading
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Billionaire investor Baloobhai Patel and Standard Investment Bank’s Mansa X Fund bought 10.23 million Bamburi shares in July in the wake of Tanzanian conglomerate Amsons Group’s buyout offer of the cement maker, eyeing capital gains and a potential special dividend payout.
Amsons offer triggered a rise in the trading price of Bamburi shares on the Nairobi Securities Exchange (NSE) —from Sh45 to an average of Sh62 since the July 10 publication of the firm’s offer documents.
The Tanzanian firm offered to buy the shares at Sh65 each —or Sh23.59 billion in total— hoping that the premium would entice shareholders to look at its bid favourably.
On Wednesday, Bamburi shareholders received a counteroffer from Kenyan firm Savannah Clinker Limited at a price of Sh70 per share, or Sh25.41 billion in total. The Bamburi share price closed at Sh65.75 on Wednesday.
Amsons filings showed that Mr Patel, through his investment vehicle Aksaya Investment Holdings Limited, held 30.52 million Bamburi shares as at June 30, 2024, equivalent to an 8.41 percent stake in the company.
The acquisition notice published by Savannah shows that by July 31, his stake had climbed to 37.73 million shares, indicating an acquisition of an additional 7.21 million shares during July.
As per Wednesday’s closing price, the additional stake is valued at Sh474 million, with his total holding now valued at Sh2.48 billion.
His share in the company has now more than doubled since the beginning of the year, when he held 14.96 million units.
The filings by Savannah also show that SIB’s Mansa X Fund now holds 3.02 million Bamburi shares, with a current value of Sh198.9 million. The fund was not listed among Bamburi’s top 10 shareholders in the June 30 register.
The shares acquired by Mr Patel and Mansa X were mainly supplied by retail investors, whose collective stake in Bamburi dropped by 8.2 million shares in July to 32.72 million units.
NSE data shows that between July 10 and July 31, investors traded a total of 10.23 million Bamburi shares.
The price increase when the Amsons offer was disclosed provided an incentive for retail shareholders to cash in on their stock, especially when the NSE market price nearly matched the offer price.
The price appreciation effectively gave investors a chance to book their offer profit early without waiting for the conclusion of the Amsons deal, whose timelines are dependent on regulatory approval with a long-stop date of November 2025.
For those buying the shares, the incentive lay in the potential of further capital gains upon the progression of the deal, with the counteroffer now opening an additional avenue for further hikes in the offer price as the parties compete to convince shareholders to favour their deal.
Bamburi shareholders are also eyeing a potential special dividend from the Sh12 billion sale of the company’s stake in its Ugandan subsidiary Hima Cement earlier this year.
Both the Amsons and Savannah offers acknowledge the right of the existing shareholders to receive the special dividend if and when it is announced by Bamburi.
Dr Faustine Ndugulile of Tanzania was elected as the World Health Organisation’s (WHO) Regional Director for Africa on Tuesday at the ongoing session of the WHO Regional Committee for Africa in Brazzaville, Congo.
He received 25 out of 46 votes, defeating candidates from Rwanda, Niger and Senegal. He was supported by 25 African countries, including Kenya.
A former deputy minister of Health in Tanzania, Dr Ndugulile will succeed Dr Matshidiso Rebecca Moeti of Botswana, whose two five-year terms end at the session.
Dr Ndugulile, a medical doctor specialising in microbiology, has extensive experience in public health.
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In his campaigns for the position, he said his priorities include transforming African health systems to achieve universal health coverage, improving maternal and child health and strengthening health security, innovation and research.
“My candidacy represents a collective effort to transform the health landscape of Africa. By prioritising universal health coverage, maternal and child health,” he had told The EastAfrican earlier.
He also said he would aim at strengthening partnerships between African governments and health institutions.
Dr Ndugulile emphasised the need to improve the service index for universal health coverage, which remains below 50 percent in many African countries.
Dr Ndugulile is currently the Member of Parliament for Kigamboni Constituency in Dar es Salaam and serves as Vice-Chair of the Parliamentary Committee on Health and HIV/AIDS in Tanzania, the Inter-Parliamentary Union (IPU) and NEAPACOH.
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Brazzaville — Dr Faustine Engelbert Ndugulile has been nominated as the next Regional Director for the World Health Organization (WHO) African Region, taking the reins from Dr Matshidiso Moeti, who has served two five-year terms at the helm.
African Member States voted to nominate Dr Ndugulile during the Seventy-fourth session of the WHO Regional Committee for Africa, held in Brazzaville, Republic of the Congo. Other candidates were Dr Boureima Hama Sambo (proposed by Niger,) Dr Ibrahima Socé Fall (proposed by Senegal) and Dr Richard Mihigo (proposed by Rwanda).
Dr Ndugulile’s nomination will be submitted for appointment by the 156th session of the WHO Executive Board, which takes place in February 2025 in Geneva, Switzerland. The newly appointed Regional Director will take office thereafter for a five-year term and be eligible for reappointment once.
In his acceptance remarks, Dr Ndugulile expressed commitment to advancing health of the people of the region. “I’m truly honoured and humbled to be elected to the position of WHO Regional Director for Africa. I thank Member States for the trust shown in me. I promise to work with you and I believe that together we can build a healthier Africa,” said Dr Ndugulile.
Dr Tedros Adhanom Ghebreyesus, WHO Director-General, congratulated Dr Ndugulile on his election as Regional Director for Africa, and praised Dr Sambo, Dr Fall and Dr Mihigo on their campaigns.
“Dr Ndugulile has earned the confidence and trust of the Member States of the region to be elected the next Regional Director for WHO Africa. This is a great privilege, and a very great responsibility,” said Dr Tedros. “I and the entire WHO family in Africa and around the world will support you every step of the way.”
Dr Tedros also thanked Dr Moeti, the outgoing WHO Regional Director, for 10 years of commitment and excellence in service of the countries and people of Africa.
“I thank my sister Dr Moeti for everything she has done for the health of the people of Africa, but also for who she is,” said Dr Tedros. “I thank her for the example she has set, and the legacy she has left.”
Dr Moeti congratulated Dr Ndugulile and wished him success. “I would like to congratulate you for being elected as the Regional Director for Africa. This is an extremely fulfilling role. Despite the many challenges, I know you will take the baton and go on to accelerate the gains already made, putting the health and well-being of the people of Africa at the centre,” said Dr Moeti.
Source: allafrica.com
