The Chanzo Morning Briefing – December 14, 2021.

In our briefing today: Tanzania signs four mining deals with Australian investors; Road accident kills nine, injures three in Iringa; Stanbic Tanzania named ‘bank of the year in Tanzania.’
The Chanzo Reporter14 December 20213 min

Dar es Salaam. Good morning! The Chanzo is here with a rundown of major news stories reported in Tanzania on Monday, December 6, 2021.

Tanzania sign four mining deals with Australian investors

Tanzania on Monday signed four framework agreements with Australian Joint venture Companies worth over Sh1.75 trillion during an event that took place at the Julius Nyerere International Convention Centre (JNICC) and was witnessed by President Samia Suluhu Hassan.

The signed deals include a new gold mine with Australia’s OreCorp Limited at Nyanzaga, Sengerema; a new graphite mine with Australia’s Black Rock Mining; a new heavy mineral sands project with Australia’s Strandline Resources; and the existing Williamson Diamonds Limited mine in Shinyanga.

Details of the agreements were not immediately available.

Tanzania will set up a joint venture with the companies to manage all mining activities between the government and Australian firms.

“The government’s aim is to see that the country benefits from its mineral resources and to see investors benefit from their investment as well,” President Samia said shortly after witnessing the signing of the contracts. “It is our responsibility to ensure that mining, refining and processing activities are properly managed so that we can benefit from our minerals.”

The Head of State assured Tanzanians that through the projects the government will benefit in various areas including taxes, levies, employment, and dividends.

President Samia added that the government’s goal is to ensure that by 2025 the mining sector contributes 10 per cent of the country’s Gross domestic product (GDP).

Road accident kills nine, injures three in Iringa

Iringa Regional Police Commander Allan Bukumbi said on Monday that nine people have died and three others seriously injured in a road accident that involved an omnibus travelling from Dar es Salaam to Mbeya.

According to reports, the van that was ferrying newspapers to the southern Highlands regions got an accident in the early hours of Monday, December 13, 2021, in Mahenge village in Kilolo district, Iringa region.

RPC Bukumbi told The Citizen newspaper that the cause of the accident was as a result of overspeeding and as result, the driver lost control then hit a tree on the side of the road and overturned killing nine instantly.

“The vehicle that was involved in the accident was a Toyota Hiace with registration number T249 DWT a property of Soma General Traders, of the nine people five were men whereas, four were women and their bodies have been taken to Iringa Regional Referral Hospital,” the paper quoted Bukumbi as saying. “The injured were rushed to hospital for treatment.”

Stanbic Tanzania named ‘bank of the year in Tanzania’

Stanbic Bank Tanzania has been named as ‘bank of the year in Tanzania’ by the UK-based publication The Banker Magazine, a second consecutive year for the lender to win the award.

The award recognizes financial institutions that demonstrate “solid strategy and growth” while catering to their customers’ daily banking needs.

Stanbic Bank Tanzania’s CEO Kevin Wingfield said the award is a great honour to the bank.

“This recognition is a testament to our commitment and success in empowering dreams and driving Tanzania’s growth,” The Guardian (Tanzania) newspaper quoted Mr Wingfield as saying. “We thank and appreciate our clients for trusting in us, and contributing to making it possible for Stanbic Bank to win this award.”

The bank has received numerous accolades in the past, with the most recent being ‘Best Investment Bank’ in October this year.

Stanbic Bank Tanzania is part of the Standard Bank Group, Africa’s largest banking group by assets, is present in 20 markets across the continent and in major global financial centres.

This is it for today and we hope you enjoyed our briefing. Please consider subscribing to our newsletter (see below) or following us on Twitter (here) as that is the best way to make sure you do not miss any of these briefings.  And in case you have any questions or comments, please consider dropping a word to our editors at editor@thechanzo.com.

The Chanzo Reporter

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