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The National Microfinance Bank of Tanzania helps Bail out the Tanzania Electric Supply Company (Tanesco) with a USD 56million Loan
The National Microfinance Bank of Tanzania has joined a syndicate of local banks and pension funds to lend USD 238million to Tanesco, the parastatal electricity company, wholly owned by the Tanzanian government, money which will be used to pay off debts to suppliers and invest in new equipment. The National Microfinance Bank was founded in 1997, and is the third most profitable bank in Tanzania, holding USD 430million in deposits and assets. The loan to Tanesco supports NMB’s business interests, as well as those of its customers, as it organises collection services for the electricity firm via its network. Currently the Tanzanian government owns 51% of the bank, having sold off the remainder of its stake in 2005. The loan syndicate involved in the bail out includes five banks and four pension funds all from Tanzania.

Other employees provident fund Related Articles

Meetings, Bloody Meetings
Just recently I found myself committed to helping on a fund-raiser. I dutifully attended the meeting with a presentation offering nearly twenty creative ways to market the fund raising event. I was prepared for the meeting, but I wasn’t prepared for the chaos.
5.9 Applying lessons learned from Uganda in South Africa: Enterprise solutions to poverty
Based on what we learned in Uganda through UEF (including the convening power that the Shell brand had with local banks) we established ETEF, our South African fund, with new financial products and an independent intermediary in the form of an independent fund manager with particular expertise in the small-scale energy sector in place from the start.
AfriCap Microfinance Fund Attracts Notable Investors Including Nordic MicroCap, BlueOrchard and Gray Ghost, Raises Capital to $50m
AfriCap Microfinance Fund, established in 2001 as the first African private equity fund dedicated to the microfinance industry, has closed a second round of investment, raising its capital from USD 14 million (Sh 910 million) to USD 50 million (Sh 3.25 billion).
Nigerian Government Creates $426m Microcredit Development Fund
Nigerian President Alhaji Musa Yar’Adua announced the creation of an N50 billion (the equivalent of over USD 426 million) microcredit development fund to be administered by the Central Bank of Nigeria (CBN). The new fund will be used to provide existing microfinance institutions (MFIs) with funding for credit creation and operational expenses.

Old Mutual and South Africa’s Department of Trade and Industry (DTI) Launch USD 12.9M Microfinance Initiative, Isivande Women’s Fund (IWF)
The Department of Trade and Industry of South Africa (previously reported) has teamed with Old Mutual Group’s Masisizane Fund to launch the Isivande Women’s Fund (IWF), financing women-run enterprises in the country.
Old Mutual and South Africa’s Department of Trade and Industry (DTI) Launch $12.9m Microfinance Initiative, Isivande Women’s Fund (IWF)
The Department of Trade and Industry of South Africa has teamed with Old Mutual Group’s Masisizane Fund to launch the Isivande Women’s Fund (IWF), financing women-run enterprises in the country. The new fund is the result of a 2006 study conducted by the DTI’s Gender and Women Empowerment Unit, the International Finance Corporation (IFC), and FinMark. The study found that although women are more responsible managers of credit than men, they only receive 30 percent of loans, with black women receiving the least funding.

Involve your employees in your business
You may be saying - but I do involve my employees in my business...but do you? Of course your employees to do the work of the business and the employees, with the right direction, make any business great as it expands, but there are not many business owners that involve their employees in helping with important decisions. I would suggest that you ask them their opinion on various expansion ideas or where you are looking at introducing new products or services get their input on this. Also, ask them how to improve on customer service, especially those employees that are on the front line, as it were...as these are the ones that are dealing with the customers directly and are therefore likely to give you some of the best feedback.
What Does a CEO Do?
When asked what a CEO do the answer might vary from individual to individual, even among CEO’s themselves. The short answer is an easy one; everything. The long answer is as complicated as business itself. I hate complications so- as is my wont, I will try to break it down as simply as possible. The term CEO stands for Chief Executive Officer, and that’s a pretty broad term- but it is accurate in describing all of the duties of the CEO. From marketing to sales and fund raising, the CEO is responsible for all aspects of a business. This is a pretty big job and less than 5% of all CEOs perform all their duties with any efficiency. The reasons are as varied as the responsibilities that come with the job description. Most CEOs have the feeling that their job is fund raising, and while that is one important aspect of a CEO’s work the job

Wealth Planning: Offense vs. Defense
This area of wealth planning is by far the most misunderstood and ignored. The personal finance industry which is so completely dominated by its focus on mutual funds has distracted the masses by having them focus on mutual fund rates of returns, dollar cost averaging, and other topics that get us to continue to just blindly, month after month, throw more and more money into their funds. The mutual fund industry would have you believe that as long as you put money away each month and pick the “top rated” funds everything will be great.
The ROI of Employee Engagement
Over the years there have been recent talks on how to keep employees engaged. The engagement challenge is especially pertinent in this economy, where organizations are feeling pressure to keep their talented employees. Consumers still expect the best from the organizations they patronize, and the only way to produce such results is with talented employees. An employee’s attitude about the organization shows in his / her productivity and quality of work. In order to keep such employees stimulated, organizations have to keep their employees engaged.
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