Dar es Salaam. The Dar es Salaam Stock Exchange (DSE) saw an increase in turnover last week as investors scooped up commercial banks’ shares in order to cash in on their [banks’] recently disclosed favourable financial results.
Commercial banks’ net earnings increased to over Sh1.164 trillion in 2022, up from little more than Sh760 billion in 2021, thanks to the government’s pro-business policies. This sent good news to investors who snapped up shares at NMB Bank and CRDB Bank at the DSE last week.
As a result, last week’s weekly turnover totalled Sh2.70 billion, a nearly 384 percent increase over the Sh572.18 million recorded the previous week.
The volume of shares also improved significantly from 0.49 million during the preceding week to 3.07 million last week.
NMB Bank Plc accounted for 51.9 percent of the week’s turnover mainly through a major block trading deal that was conducted on Wednesday Friday 8, 2023.
The lender traded a block of 357,147 shares to foreign investors valued at Sh1.35 billion. NMB has announced a net profit of Sh429 billion for the year 2022.
The amount translates into an annual net profit growth of 46.8 percent compared with the Sh292.14 billion that registered during the preceding year.
With a 36.76 percent contribution to the week’s turnover, CRDB Bank Plc came second after it transacted shares valued at nearly Sh1 billion.
The lender announced a net profit of Sh353 billion in 2022, being a 31 percent increase compared with Sh268 billion that it registered in 2021.
The capital markets manager at Vertex International Securities Ltd, Mr Ahmed Nganya, said it is expected that the earnings results will continue to factor in the coming week.
“The volume and turnover have finally improved after a few weeks of a negative trend. We expect a continuation of this performance trend next week as we believe the earnings factor has not lost its steam yet,” he said.
Last week, the two leading lenders’ equities also had positive price movements, with NMB up 10.97 percent to Sh3,440 and CRDB up 10.26 percent to Sh430.
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Addis Ababa, January 20, 2025</Strong> — Tanzania has declared a Marburg virus disease (MVD) outbreak after confirming one case and identifying 25 suspected cases in the Kagera Region of Northwestern Tanzania. The Marburg virus, a highly infectious and often fatal disease, is similar to Ebola and is transmitted to humans from fruit bats and monkeys. This outbreak marks the nation’s second encounter with the deadly virus, following the outbreak in Bukoba District of Kagera Region in March 2023, which resulted in nine cases and six deaths.
In response to this urgent threat, the Africa CDC is mobilizing strong support to help Tanzania contain the outbreak. A team of twelve public health experts will be deployed as part of an advance mission in the next 24 hours. The multidisciplinary team includes epidemiologists, risk communication, infection prevention and control (IPC), and laboratory experts to provide on-ground support for surveillance, IPC, diagnostics, and community engagement.
The Director-General of Africa CDC, Dr. Jean Kaseya, has engaged with Tanzania’s President Samia Suluhu Hassan and the Minister of Health to ensure coordinated efforts and secure political commitment for the response.
“Africa CDC stands firmly with Tanzania in this critical moment. To support the government’s efforts, we are committing US$ 2 million to bolster immediate response measures, including deploying public health experts, strengthening diagnostics, and enhancing case management. Building on Tanzania’s commendable response during the 2023 outbreak, we are confident that swift and decisive action, combined with our support and those of other partners, will bring this outbreak under control,” Dr. Kaseya stated.
Africa CDC has recently supported efforts to enhance the diagnostic and sequencing capacity of public health laboratories in Tanzania. PCR Test kits and genomic sequencing reagents have been dispatched, with additional supplies in the pipeline. To ensure rapid identification and confirmation of cases, the institution will also provide technical assistance to strengthen detection and genome sequencing for better characterization of the pathogen. Additionally, support will be provided to improve case management protocols and enhance the capacity to deliver safe and effective treatment.
Africa CDC is committed to working closely with the Government of Tanzania, regional partners, international organizations, and global stakeholders, including the World Health Organization, to stop the spread of the Marburg virus.
Source: allafrica.com
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