THE ongoing mini-transfer window shapes as make or break for a host of Mainland clubs, with title heavyweights busy in the market looking to bolster their squads after a battling start to the new campaign.
The month-long transfer window, which opened on November 15, represents a chance for clubs to give their teams a boost but once again it is the big clubs that are dominating the market.
Defending champions Azam FC have reacted to their recent stuttering form by sealing the signing of Ivorian defender Paschal Serge Wawa on a two-year contract.
Wawa’s transfer from Sudanese giants El Merreikh has been hailed as a good deal that is expected to bolster the Tanzanian side not only on the domestic front, but also in the CAF Champions League.
Joseph Omog’s determination to improve his squad saw him recruit ever-green Amri Kiemba from Simba. The reliable midfielder for both Simba and the national team, Taifa Stars, has fallen out with his current club and has joined the city tycoons on loan.
Azam’s spending is likely to continue. Mali’s striker Mohamed Traore, who plays for El Merreikh, remains the leading target as the future of the Ivorian striker Kipre Tchetche still hangs in balance.
While Azam are flexing their muscles seeking to revive their fortune, one would not expect other title contenders to lay dormant in the market and there are transfer activities going on at both Young Africans and Simba.
Yanga, in particular, are set to welcome Brazilian defensive midfielder Emerson De Oliveira Neves Roque (24) for trial and medical test ahead of a potential move.
Roque, who has been spotted by the club’s head coach Marcio Maximo, would likely fill the void left by compatriot Geilson Santos ‘Jaja’, who has returned home after failing to make an impact since joining the club a few months ago.
Maximo wants to add some firepower to his misfiring attacking force during the ongoing transfer window and has reportedly earmarked Uganda Cranes striker, Yunus Sentamu, currently with Congolese side AS Vita.
Exciting Mbeya City attacker Deus Kaseke is also reportedly attracting interest from giants Simba and Yanga, who unsuccessful tried to sign him before the start of the season.
Though the Reds have tried to distance themselves from a possible move for Kaseke, reports suggest that the Simba Players’ Registration Committee members have been working hard to win his signature.
Simba are also reportedly seeking the signature of Mtibwa Sugar’s duo of Ame Ally and Hamis Kessy, Prisons’ Salum Kimenya as well as former goalkeeper Juma Kaseja, who has reportedly terminated his contract with Yanga.
But their best move was to seal a two-year extension deal with their midfield maestro Jonas Mkude, who was on both Yanga and Azam’s radar.
Several other clubs have signaled their intention to strengthen their squads, with Ndanda FC also looking to bolster their team after a tough start to life in the top flight league.
Struggling Mbeya City will be eager to retain key players in the squad but also bring in some freshness to the team that finished second runners-up the previous season.
ONE would often observe that whenever we want to open a new bank account with any bank, one of the forms which we are asked to fill is called ‘KYC’ form.
What does this acronym ‘KYC’ mean to a normal human being? The expanded form of ‘KYC’ is nothing but it stands for - “Know Your Customer”. This famous acronym i.e. ‘KYC’ is very popular in the banking/ financial industry across the world.
“Know your customer (KYC)” is the due diligence that banks/ financial institutions and other regulated companies must perform to identify their clients and ascertain relevant information pertinent to doing financial business with them.
‘Know your customer (KYC)’ policies are becoming increasingly important globally to prevent/ identify transactions relating to theft, fraud, money laundering and terrorist financing etc.
Howsoever influential one might be no bank of professional standing will open an account until that customer passes the mandatory ‘KYC’ guidelines/ procedures.
That being the practice in financial sector, don’t you feel that it is equally obligatory on the part of any depositor or investor to also know the corresponding bank/ investment company where one is intending to put his/ her hard earned money.
This is where I introduce you to an altogether new terminology/ acronym i.e. ‘KYB - Know Your Banker’, which basically connotes that as ‘KYC’ is for a bank or investment company, ‘KYB’ is for a customer.
So if it is mandatory for a customer to undergo KYC compliance procedures to open a bank account or make investments, are we not supposed to apply the same yardstick when we decide to transact with any bank or investment company.
This is where a common investor normally makes a miss. One would go to any extent to comply with the mandatory ‘KYC’ guidelines when required, while on other hand the same person would pay very little attention to know about the bank or investment company where he/she intends to put one’s hard earned money for investment purpose.
Please note, your first and foremost concern as an investor should be the safety of money you intend to deposit or invest. In order to address this concern one has to take some pain by following the dictum of our today’s message i.e. ‘Know Your Banker/ Investment Company’.
Though the moot question remains, as to how one can know about its Banker or Investment Company? There are many ways through which one can collect some basic information/ data to know one’s banker/ Investment Company well.
While doing ‘KYB’, the first things you must ensure is that the financial entity (whether it is a bank, finance company, chit fund or any other concern of similar nature) is duly registered and has a clear cut mandate/ licence to undertake the type of business currently being operated.
Once that financial entity (under review) has passed the 1st litmus test of being found duly registered, the very next thing one must find out is about its track record. One of the best ways through which one can easily find out the track record of any entity is by seeking/ analyzing audited financial accounts of that entity for a period of about 3-5 years.
While doing so, you may even take the help of some financial analyst, accountant or stock broker. Another important thing one must ensure is to clearly understand the terms and conditions that govern the investment plan you intend to join.
The normal practice is to just sign on the dotted lines, without being clear on many important key parameters. You may decide to put money under ‘fixed deposit’ with a bank for five years without even knowing whether there is any window available to you in case the money is needed before maturity (i.e. before 5 years).
If yes, then what conditions would apply in case you decide to break the fixed deposit after completion of 3 years. There could be many permutation and combinations of similar nature relating to one’s investment placed with various financial entities.
There are numerous instances where an investor had joined a savings/ investment plan based on misguided advice received from some greedy financial adviser or agent, which later on turned out to be completely not in sink with one’s investment profile.
But by the time one discovers such unwanted clause, it is too late for correction. So the best time to do the necessary due diligence is when you are investing at the first instance.
For security, and peace of mind, you should be interested only in dealing with the safest Bank or Investment Company, which enjoys highest quality of financials, coupled with the lowest risk and has a steady track record.
Thus from hereon please make ‘KYB - Know Your Banker’ as one of your integral investment mantra, and I am sure by doing so you would avoid unnecessary miseries that may befall on your hard earned money in the times to come.
ABOUT 3.6bn/- has been issued for the implementation of Mara Regional Hospital projects in the financial years 2011/12 and 2013/14.
The Deputy Minister in the Prime Minister’s Office, Regional Administration and Local Government, Mr Aggrey Mwanri, said 256,173,000/- was spent on compensations and 3,365,939,000/- was spent on construction.
He said that in 2014/15 the government has set aside 2.2bn/- and already the region has been given 287,145,000/- to continue construction work at the hospital.
The Deputy Minister said that preparations to get a contractor for the second phase of the project is still on, and the government will be setting aside funds as they are available.
Mr Mwanri was responding to a question by Musoma Urban MP (Chadema), Mr Josephat Nyerere, who wanted to know if the government will fund to complete implementation of the projects.
Mr Nyerere also questioned the government’s plans to employ the Public Private Partnership (PPP) so that Appollo Hospital and other private partners be involved.
Mr Mwanri said that the issue of PPP is among the government’s policies in implementing developmental projects and already it has started involving the private sector in various education and health projects.
According to statistics from the Ministry of Health and Social Welfare, the government has managed to build 249 hospitals, 716 health centres and 5,960 dispensaries countrywide.
TANZANIA has stepped up the state’s financial support to the agriculture sector, which at the moment is clocking 1 trillion/-, according to the Bank of Tanzania (BoT) Governor, Professor Benno Ndulu.
“Although it is still low, the share of lending to agriculture to total lending to private sector by the banks has increased from the average 9.6 per cent in 2008 to nearly 12 per cent by the end of 2013, against the backdrop of rapidly expanding total credit to the private sector,” stated Prof Ndulu.
Speaking at the ongoing 17th Conference of Financial Institutions (COFI) taking place at the Arusha International Conference Centre (AICC) here, the central bank chief pointed out that in absolute terms, credit to agriculture increased from an average 700 billion/- in 2008 to over one trillion/- at the end of last year.
The theme of this year’s conference is ‘Financing Agriculture and Agribusiness in Tanzania: Challenges and Opportunities’ and reflects the need to increase financial resources to agriculture, which was stated during the event to be the major activity of the majority of Tanzanians.
To that effect, therefore, Governor Ndulu pointed out that the government has already made significant strides in providing financing to medium and large-scale agriculture through guarantee schemes operated by the BoT and ‘Kilimo Kwanza’ initiatives.
“Local financial institutions have also played a sizeable role in this endeavour,” he noted, adding that more efforts were being made to ensure that more grants are pumped into the farmers’ coffers to boost productivity.
The Vice-President, Dr Mohamed Gharib Bilal, officially opened the conference and stated that the importance of agriculture cannot be underestimated on that the sector accounts for 30 per cent of export earnings and about 25 per cent of the Nation’s Gross Domestic Product.
“And when looked in real terms, the sector provides backward and forward sectoral linkages and is key in controlling inflation, because food contributes about 44 per cent of the total consumer’s expenditures,” pointed out Dr Bilal.
COFI is a biennial forum that was created by the BoT in 1980.
The conferences bring together heads of financial institutions and other stakeholders to exchange views and experiences on matters related and relevant to the financial system and the country’s economy.
THE ongoing mini-transfer window shapes as make or break for a host of Mainland clubs, with title heavyweights busy in the market looking to bolster their squads after a battling start to the new campaign.
