McHANCY REPORTER NewZ

ACACIA Mining has posted strong operating performance after delivering solid production of 120,981 ounces of gold in the first quarter across the Group. The Interim Chief Executive Officer, Peter Geleta said in a statement that the positive performance sets the company in good stead to deliver against its full year guidance of 435,000-475,000 ounces. “All three of our operations delivered in line with their respective mine plans and we were pleased to record an increase in our cash balance to 107 million US dollars driven by the sale of a non-core royalty that completed in January 2018, which helped to further stabilise our balance sheet,” he said. Group gold production for the quarter was in line with expectations at 120,981 ounces, a 55 per cent decrease on Q1 2017 (219,620 ounces), primarily driven by the move to reduce operations at Bulyanhulu and to stockpile processing at Buzwagi. Gold ounces sold for the quarter of 116,955 ounces were slightly below gold produced for the quart

BARCLAYS Bank Tanzania has registered 215 per cent improvement of profit before tax to 11.3bn/- last year from a 9.8bn/- loss in 2016 largely due to revenue growth, decreasing loan loss impairment and stable cost base.   The bank’s income statement for the year ending December 2017 shows that revenue grew by 25 per cent to 83.5bn/-, driven by good performance in foreign dealings and bond trading income as well as balance sheet growth. Net income after income tax improved to 9.2bn/- in the year under review from a loss position of 8.7bn/- in the previous year due to increase in net interest income to 51.18bn/- from 42.8bn/-. The non-interest income increased to 36.4bn/- in 2017 compared to 30.6bn/- due to excellent performance in foreign currency dealings and translation gains, fees and commissions. The impairment for losses declined significantly by 42 per cent to 8.5bn/- compared to 14.7bn/- of the previous period as a result of improved loan portfolio performance in corporate and b

THE fifth African Islamic Finance Summit is organised by AlHuda Centre of Islamic Banking and Economics (CIBE) is scheduled to be held in Dar es Salaam next week.   The event is focused on the improvement of the socio-economic conditions of the rural and urban areas of the country. The summit would be followed by Post Event Workshops on Islamic Insurance and Islamic Microfinance. More than 15 international speakers would give their contribution on the topics of discussion. Organiser of the event who is also the Chief Executive Officer AlHuda CIBE, Mr Zubair Mughal, said local banking and financial industry as well as the surrounding areas would participate in the conference to gain ample knowledge of the Islamic financial sector and solutions to the escalating problems of the society. “The event will be inaugurated by an esteemed chief guest from the ministry of finance. Participants are high profile personnel from 20 countries e.g. from central banks, banking and financial sectors o

THE government said it will keep axing sexual explicit songs and subsequently impose ban on all misbehaving artistes, in an attempt to protect customs and Tanzanian cultural practice. Minister for Information, Culture, Arts and Sports, Harrison Mwakyembe, told the National Assembly yesterday that apparent measures currently being instituted by the government are not freakish and will frequently be taken against artists who go astray. He said such measures were also being implemented across the world. Of late, the government has been implementing a number of measures including barring artistes producing controversial songs, but a number of MPs were against the move. “This is done everywhere. In US, rapper Rick Ross who also featured Diamond in one of his songs was recently forced to apologise for his insensitive remarks about women he made in a new song. The song was also banned,” he said. Such measures have also been imposed to a Nigerian singer, songwriter and record producer, David

TABLE tennis players, Fathiya Pazi and Amon Tumaini earned Tanzania the first Club Games victories after beating their opponents from Tuvalu yesterday. Still, the yesterday fixture for Team Tanzania didn’t miss the exit misfortunes as three of them; two table tennis players and an athlete crashed out of the race for medals.   Pazi defeated Brenda Katepu of Tuvalu by 4-0 sets in women’s singles while Tumaini ousted Tulimani Vaea also from Tuvalu by the similar score in the men’s singles. There were 76 entries in men’s singles and 49 entries in women’s discipline. Tumaini carved 11-3 in the game 1 before posting 11- 4, 11-8 and 11-5 in other three games. He comfortably ended 4-0 winner in his category. Fathiya Pazi began her onslaught with 11-8 in the game 1 and went on to win other there games in 11-6, 17-15 and 14-12. The duo earned Tanzania first victories after seeing all four boxers, a swimmer and athletes Failuna Matanga and Ali Gulam crashing out of the medal chase. Tumaini, how

YOUNG Africans will look to keep up their Mainland Premier League title hopes alive, when they host Singida United in a high profile match at the National Stadium in Dar es Salaam today.   The defending champions are desperate to close the gap on leaders Simba and run away from third-placed Azam FC. On 46 points from 21 games, Yanga sit second in the league table, trailing their arch-rivals Simba by six points, while they sit just a point above third-placed Azam. However, Yanga have played a game less than Simba and two less than Azam. With nine rounds to go, the Jangwani Street lads have not given up hope of retaining the title and a win today will see them moving to within three points adrift Simba. Yanga will also look to maintain their unbeaten run since the kickoff of the second round, but that run will come under big threat against fifth-placed Singida United today. Yanga will enter into the game today fresh from their Saturday’s 2-0 over Ethiopian side Wolaitta Dicha in the CA

POLICE has nabbed six illegal immigrant aboard Ngasere Bus with registration number T675 DJT plying between Mpwapwa and Iringa.   Dodoma Regional Police Commissioner, Mr Gilles Muroto told reporters here yesterday that of the immigrants, five are of Somali origin and the rest are from Kenya. The RPC said initial investigations have it that the immigrants enter the country through Namanga border to Arusha but the rubber stamps differed from one passport to another. He named the suspected illegal immigrants as Mussa Isaka (37), Aden Abdi (34), Abraham Ismail (22) Joseph Kibuko (33), Mohamed Kosar of Somali origin and John Mbogo (28), a Kenyan national. “The police force is commending the informers for tipping us and we call upon the bus owners to be keen as once found guilty of transporting illegal immigrants, the penalty is confiscation of the vehicle” said the RPC. He warned the ticket agents to be keen as others are being engaged in deals of transporting the illegal immigrants. Nges

PRIME Minister Kassim Majaliwa yesterday wound up debate on his office budget estimates for the 2018/19 fiscal year, closing the heated debate on sugar divided legislators in the House.   Some Members of Parliament (MPs) linked the sugar issue with the Union, prompting a section of Civic United Front (CUF) MPs to walk out of Parliament in what they termed as ‘silencing us. ’ But, Mr Majaliwa yesterday condemned the linking of the sugar debate with the Union between Tanganyika and Zanzibar, describing it as unhealthy. He said the government will always stand firm to protect the Union at any cost, advising lawmakers to shun jab throwing at each other on issues pertaining with the Union. The premier said the heated debate on the Union that the Chairman of the House, Mr Mussa Azzan Zungu blocked had emanated from the sugar issue. He stressed that there were five sugar factories in the mainland and one in the Isles, assuring that the government has always provided equal opportunities for

NORTH Unguja Region recorded 219 sexual assault cases in 2017, topping the list of sexual and Gender-Based Violence (GBV) across Zanzibar.   A total of 402 sexual violence incidents against women and children were reported in the Indian Ocean semi-autonomous archipelago last year, according to the official data. “North Unguja recorded over 60 per cent of all reported incidents of sexual and gender-based violence and this is a very worrying situation,” Dr Omary Abdallah, Executive Director of Zanzibar National Arts Council, said over the weekend. He was speaking at a workshop organized by Tanzania Women Writers Association (TAMWA) Zanzibar, to explore the dynamics of child sexual abuse and discuss prevention strategies. The one-day workshop themed ‘Take action, stop sexual abuse in North Unguja’ brought together stakeholders who advocate for women and children’s rights. Rape cases topped the list with 87 incidents, while abduction came second with 80 (56 girls, 23 women and one boy we

MBEYA Regional Commissioner (RC) Amos Makala has ordered Rungwe District authority to assess Ilolo villagers’ land needs to facilitate fair allocation.   Mr Makala has tasked Rungwe District Commissioner (DC) Julius Chaliah and his team, including the District Land officer, to immediately visit Ilolo, talk to villagers and mark the boundaries to ensure that the 3,200 acres are allocated for the development of Ilolo people. “Quickly work on these land issues in your district and let me get your recommendations that shall help me to rightly decide and eventually end this problem that has persisted for a long period,” said Mr Makala. The RC’s move follows the government’s revocation of all property rights over farms in Ilolo village, formally under the Moravian Church in partnership with some foreign investors. At last week’s meeting, Rungwe District Executive Director (DED) Loema Peter said the land crisis that had lasted 27 years should now come to an end to enable Ilolo villagers rep

DOMESTIC revenue collections peaked 11.78tri/- in the first three quarters of the 2017/18 fiscal year, amplifying prospects of meeting the 17tri/- target by June 30. The three-quarter collections have surpassed by 8.46 per cent the 10.86tri/- that the Tanzania Revenue Authority (TRA) collected in the corresponding period in the 2016/2017 fiscal year. TRA is tasked to raise 17.1tri/- in domestic revenues for execution of the country’s 31.71tri/- total budget for recurrent and development expenditures. Speaking in Dar es Salaam yesterday, TRA Director of Taxpayer Services and Education Richard Kayombo expressed confidence that the taxman will meet the target by the end of the current financial year on June 30, 2018. “Many taxpayers settle their obligations at the end of each quarter and we expect the remaining amount to be covered at the end of the financial year. Save for September, last year, we have been recording increased revenue collections throughout,” he explained. In March, 2

THE government has allocated funds in the forthcoming financial budget (2018/19) for construction of a road that will lead to Kidunda dam in Morogoro region which experts say will stabilise water flow in Ruvu river and improve supply of the precious liquid in Dar es Salaam.   Construction of the multi-purpose dam has remained stalled for some time now due to lack of a passable road to transport machinery for the project. But speaking in the National Assembly here yesterday, the Minister in charge of Water and Irrigation, Eng Isack Kamwelwe, said his office has allocated money in the next financial year to finance construction of the road. “We have allocated funds to the project and we will ask Members of Parliament to approve it when it is tabled so we can start the construction work,” he said. The Minister was reacting to a supplementary question posed by Uzini legislator Salum Rehani (CCM). The lawmaker had asked whether the government was committed to constructing the road require