
Mbeya, Tanzania:
The Tanzania government has been advised to change the name of the Songwe International Airport (SIA) to the name of the relevant region (Mbeya) to eliminate confusion for visitors entering and leaving the region for various activities.
The request was made today, Monday January 9, 2023 by the Speaker of the Parliament who is also the MP for Mbeya Urban, Dr. Tulia Ackson when he participated in the meeting of the regional road board led by the governor of the region, Juma Homera.
“The reality of airports in the world is that they must be named after the relevant geographical place or the name of a person, you cannot use the name of Songwe which is another region in the area of Mbeya region, this thing confuses many people, so you need a change,” said Dr. Tulia .
On his part, Lupa Member of Parliament, Masanche Kasaka has supported the argument while insisting on the Tanzania Roads Agency (Tanroads) to improve the road infrastructure.
A general store trader in Mbeya, Atupakisye John has said that it is good for the Government to accept the idea and change the name of the Songwe airport to be called the regional airport.
“Even when we receive our fellow traders from other countries, they question the reasons for the airport in Mbeya region to be called Songwe airport, which causes stuttering,” he said.
Source: mwananchi.co.tz
Share this news
This Year’s Most Read News Stories
European Union Bans Air Tanzania Over Safety Concerns
Kampala — The European Commission added Air Tanzania to the EU Air Safety List, banning the airline from operating within European Union airspace. This decision follows the denial of Air Tanzania’s Third Country Operator (TCO) authorization by the European Union Aviation Safety Agency (EASA), citing significant safety deficiencies.
The EU Air Safety List includes airlines that fail to meet international safety standards. Commissioner Tzitzikostas emphasized the importance of passenger safety, stating: “The decision to include Air Tanzania in the EU Air Safety List underscores our unwavering commitment to ensuring the highest safety standards. We strongly urge Air Tanzania to take swift action to address these safety issues. The Commission has offered its assistance to Tanzanian authorities to enhance safety performance and achieve compliance with international aviation standards.”
Air Tanzania joins several African airlines banned from EU airspace, including carriers from Angola, the Democratic Republic of Congo, Sudan, and Kenya. Notable names include Congo Airways, Sudan Airways, and Kenyan carriers Silverstone Air Services and Skyward Express. The ban reflects the EU’s strict approach to aviation safety worldwide.
Source: allafrica.com
Britam half-year net profit hits Sh2bn on higher investment income
Insurer and financial services provider Britam posted a 22.5 percent jump in net earnings for the half-year ended June 2024, to Sh2 billion, buoyed by increased investment income.
The rise in half-year net profit from Sh1.64 billion posted in a similar period last year came on the back of net investment income rising 2.5 times to Sh13.27 billion from Sh5.3 billion.
“We are confident in the growth and performance trend that Britam has achieved, supported by its subsidiaries in Kenya and the region. Our business is expanding its revenue base while effectively managing costs,” Britam Chief Executive Officer Tom Gitogo said.
“Our customer-centric approach is fueling growth in our customer base and product uptake, particularly through micro-insurance, partnerships, and digital channels.”
The investment income growth was fueled by interest and dividend income rising 34 percent to Sh9.1 billion, which the insurer attributed to growth in revenue and the gains from the realignment of the group’s investment portfolio.
Britam also booked a Sh3.79 billion gain on financial assets at a fair value, compared with a Sh1.8 billion loss posted in a similar period last year.
The increased investment income helped offset the 12.7 percent decline in net insurance service result to Sh2.13 billion in the wake of claims paid out rising at a faster pace than that of premiums received.
Britam said insurance revenue, which is money from written premiums, increased to Sh17.8 billion from Sh16.6 billion, primarily driven by growth in the Kenya insurance business and regional general insurance businesses, which contributed 30 percent of the revenue.
The group has a presence in seven countries in Africa namely Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique, and Malawi.
Britam’s insurance service expense hit Sh13.6 billion from Sh11.3 billion, while net insurance finance expenses rose 2.6 times to Sh12.3 billion during the same period.
“Net insurance finance expenses increased mainly due to growth in interest cost for the deposit administration business driven by better investment performance. This has also been impacted by a decline in the yield curve, which has led to an increase in the insurance contract liabilities. The increase has been offset by a matching increase in fair value gain on assets,” said Britam.
Britam’s growth in profit is in line with that of other Nairobi Securities Exchange-listed insurers, which have seen a rise in profits.
Jubilee Holdings net profit in the six months increased by 22.7 percent to Sh2.5 billion on increased income from insurance, helping the insurer maintain Sh2 per share interim dividend.
CIC Insurance Group posted a 0.64 percent rise in net profit to Sh709.99 million in the same period as net earnings of Liberty Kenya nearly tripled to Sh632 million from Sh213 million, while Sanlam Kenya emerged from a loss to post a Sh282.2 million net profit.
Tanzania central bank tells hotels to obtain foreign currency exchange license
BoT governor, Emmanuel Tutuba, urges tourist hotel owners and operators to obtain foreign currency exchange licences to combat the black market.Continue Reading