Dar es Salaam. Local investors emerged as key players as the stock market recorded a 183 percent increase in total turnover during the first quarter of 2024.
According to the Dar es Salaam Stock Exchange (DSE) chief executive, Mr Mary Mniwasa, in Q1 of 2023, the bourse recorded Sh20.36 billion in total turnover.
It, however, rose to Sh57.58 billion during the first quarter of 2024. “Due to the ongoing geopolitical tensions, we have seen a low level of foreigners’ participation; however, local investors’ activities have improved,” she said.
Speaking to the press, Ms Mniwasa also revealed that local lender CRDB Bank Plc emerged as the top trading counter in the equities market during the first quarter of 2024, contributing over 54 percent of the total turnover.
“The bank was followed by TBL Plc, which contributed 16.83 percent, NMB Bank Plc, which contributed 10.31 per-cent, and Twiga (Tanzania Portland Cement Company Ltd.), which contributed 9.98 percent,” she said.
In terms of the majority of shares sold on the market, CRDB Bank also contributed the most, with 85.37 percent of shares sold, followed by TCCIA Investment Bank, which contributed 5.14 percent. Turnover at the secondary bond market had also been positive, recording Sh952.10 billion by the end of Q1, which is 15 percent higher than the value of bond sales for the same period in 2023, where bond turnover was Sh827.92 billion.
“This was highly influenced by the listing of Kijani Bonds from CRDB Bank and the Jamii Bond by NMB,” she said.
Kijani Bond by CRDB was launched in August 2023 to boost environmental, social, and sustainability projects in the country and was successfully listed at the DSE on November 7, 2023.
The Jamii Bond was listed at the DSE in December 2023 to raise funds to finance eligible climate, social, and environment-focused projects that positively impact resilience against climate change, achieve sustainable infrastructure, and promote efficient and sustainable use of natural resources.
Ms Mniwasa said the reopening of the long-term Treasury bonds, such as the 20-year bonds and the 25-year bonds, had also contributed significantly.
“The net value of Treasury bonds issued by the government for the first quarter of 2024 amounted to Sh20.87 trillion, compared to the first quarter of 2023, where bonds valued at Sh17.59 trillion were issued,” she said.
The participation and accessibility of the market continue to improve, as during the first quarter, investors using the digital application ‘Hisa Kiganjani’ conducted transactions totaling Sh2.72 billion, compared to Sh326 million during the same period in 2023, marking an increase of 734.36 percent.
“DSE continues to enhance the functionality of the app to enable more Tanzanians to access it through various networks and mobile banking applications. Additionally, DSE plans to improve the payment system to allow Tanzanians living abroad (diaspora) to use it from anywhere in the world,” said the DSE boss.
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Tanzania Confirms Outbreak of Marburg Virus Disease
Dodoma — Tanzania today confirmed an outbreak of Marburg virus disease in the northwestern Kagera region after one case tested positive for the virus following investigations and laboratory analysis of suspected cases of the disease.
President of the Republic of Tanzania, Her Excellency Samia Suluhu Hassan, made the announcement during a press briefing alongside World Health Organization (WHO) Director-General, Dr Tedros Adhanom Ghebreyesus, in the country’s administrative capital Dodoma.
“Laboratory tests conducted in Kabaile Mobile Laboratory in Kagera and later confirmed in Dar es Salaam identified one patient as being infected with the Marburg virus. Fortunately, the remaining suspected patients tested negative,” the president said. “We have demonstrated in the past our ability to contain a similar outbreak and are determined to do the same this time around.”
A total of 25 suspected cases have been reported as of 20 January 2025, all of whom have tested negative and are currently under close follow-up, the president said. The cases have been reported in Biharamulo and Muleba districts in Kagera.
“We have resolved to reassure the general public in Tanzania and the international community as a whole of our collective determination to address the global health challenges, including the Marburg virus disease,” said H.E President Hassan.
WHO is supporting Tanzanian health authorities to enhance key outbreak control measures including disease surveillance, testing, treatment, infection prevention and control, case management, as well as increasing public awareness among communities to prevent further spread of the virus.
“WHO, working with its partners, is committed to supporting the government of Tanzania to bring the outbreak under control as soon as possible, and to build a healthier, safer, fairer future for all the people of Tanzania,” said Dr Tedros. “Now is a time for collaboration, and commitment, to protecting the health of all people in Tanzania, and the region, from the risks posed by this disease.”
Marburg virus disease is highly virulent and causes haemorrhagic fever. It belongs to the same family as the virus that causes Ebola virus disease. Illness caused by Marburg virus begins abruptly. Patients present with high fever, severe headache and severe malaise. They may develop severe haemorrhagic symptoms within seven days.
“The declaration by the president and the measures being taken by the government are crucial in addressing the threat of this disease at the local and national levels as well as preventing potential cross-border spread,” said Dr Matshidiso Moeti, WHO Regional Director for Africa. “Our priority is to support the government to rapidly scale up measures to effectively respond to this outbreak and safeguard the health of the population,”
Tanzania previously reported an outbreak of Marburg in March 2023 – the country’s first – in Kagera region, in which a total of nine cases (eight confirmed and one probable) and six deaths were reported, with a case fatality ratio of 67%.
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In the African region, previous outbreaks and sporadic cases have been reported in Angola, the Democratic Republic of the Congo, Ghana, Kenya, Equatorial Guinea, Rwanda, South Africa and Uganda.
Marburg virus is transmitted to people from fruit bats and spreads among humans through direct contact with the bodily fluids of infected people, surfaces and materials. Although several promising candidate medical countermeasures are currently undergoing clinical trials, there is no licensed treatment or vaccine for effective management or prevention of Marburg virus disease. However, early access to treatment and supportive care – rehydration with oral or intravenous fluids – and treatment of specific symptoms, improve survival.
Source: allafrica.com
Tanzania’s opposition party ACT Wazalendo honours veteran politician under new policy
Unguja. Opposition party ACT Wazalendo today officially bids farewell to its former Chairman, Juma Duni Haji, also known as Babu Duni, as part of a new policy designed to honor retired senior leaders at a ceremony held at Kiembesamaki, Zanzibar.
The initiative highlights the party’s commitment to recognizing and supporting individuals who have served with dedication and integrity.
Babu Duni, who stepped down earlier this year, was succeeded by Othman Masoud, now the First Vice President of Zanzibar.
The policy aims to provide ongoing respect and support to retired leaders, ensuring their continued recognition and contribution to the party’s development.
“Recognizing their significant contributions to the development and prosperity of the party, this policy ensures that retired leaders continue to be acknowledged and respected by both the party and the community,” the policy states.
To benefit from this policy, leaders must not have left or been expelled from the party. They must have served the party with honor and dedication. The national leadership committee will determine whether a leader has fulfilled these criteria.
The policy seeks to honor retired leaders, protect their dignity, acknowledge their contributions, leverage their ideas for the party’s growth, and support them to the best of the party’s ability.
In honoring these leaders, the party will provide a vehicle, the type of which will be determined by the national leadership committee. Additionally, they will receive a monthly allowance, with the amount also set by this committee.
Other benefits include health insurance. If a leader does not own a home, the party will cover their rent at a rate decided by the committee.
The leadership committee may also grant special recognition based on the leader’s contributions. Retired leaders will participate in decision-making meetings according to procedures outlined in the party’s constitution.
Depending on the party’s resources at the time, the policy may also apply to retired deputy chairpersons for both the mainland and Zanzibar, the Secretary-General, Deputy Secretary-General for both mainland and Zanzibar, and the party’s Attorney General.
Additionally, leaders, executives, or members with exceptional contributions to the party’s protection, advocacy, and defense may also benefit, as determined by the leadership committee.
Currently, those who are eligible for benefits under this policy include Juma Duni Haji (retired party Chairman) and Zitto Kabwe (retired party leader).Continue Reading
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The basic purpose of an insurance plan is to provide financial security to you and your family in case of your misfortunes during the policy tenure.Continue Reading
