PACKAGING LINE UPGRADE

Size: px
Start display at page:

Download "PACKAGING LINE UPGRADE"

Transcription

1

2 PACKAGING LINE UPGRADE The brand new state-of-the-art bottling line at TBL was officially opened on 22 May 2009 and is rated at 48,000 bottles per hour. The bottle washer reduces water usage by 50%.

3 Contents 10 Year Review 2 Group Cash Value Added 3 Chairman s Statement 5 Vision, Mission & Company Values 7 Board of Directors 8 Report of the Directors 10 Corporate Governance 12 Managing Director s Report 13 TBL Responsible Way 19 Statement of Directors Responsibilities 20 Report of the Independent Auditor 21 Profit & Loss Accounts 22 Balance Sheets 23 Statements of Changes in Equity 24 Cash Flow Statement 25 Index to Notes to Financial Statements 26 Notes to Financial Statements 27 Administration and Notice of Meeting 48 Tanzania Breweries Limited Page 1

4 10 Year Review * #2000 Sales Tshs M 464, , , , , , , , , ,795 Profit before income tax Tshs M 115, ,168 95,603 85,584 69,332 57,471 47,635 34,218 29,121 31,554 Dividends declared Tshs M 44,239 58,986 58,986 52,202 56,036 36,866 30,790 25,835 25,246 21,407 Cash flow from operations Tshs M 71,981 83,467 79,011 60,099 67,489 42,248 43,242 30,069 32,127 28,530 Net cash invested to expand operations Tshs M 74,741 58,723 30,475 15,121 3,771 4,822 2,723 3, ,845 Total borrowings Tshs M 105,702 57,899 36,774 25,270 5,760 19,701 13,740 12,434 11,181 7,935 Gearing % Market capitalisation Tshs Bn Earnings per share Tshs Earnings per share growth % (8) (8) Sales and Total Assets Tshs millions Earnings and Dividends Tshs millions Total Assets Sales Earnings Dividends # For fifteen months ended March 2000 * Tax holiday ended July 2001 Page 2 Tanzania Breweries Limited

5 Group Cash Value Added 31 March, March, 2008 Tshs M % Tshs M % Cash generated Cash derived from sales 557, ,045 Other income - Cash value generated 557, ,045 Cash paid to suppliers (261,786) (183,706) Cash value added 295, , Cash utilised to Remunerate employees for their services (20,887) 7 (17,015) 6 Pay direct taxes to Government (29,307) 10 (30,662) 11 Pay excise duty and Value Added Tax (161,149) 54 (133,651) 50 Provide lenders with a return on borrowings (10,070) 3 (3,544) 1 Provide shareholders with cash dividends (47,671) 16 (60,649) 23 Cash disbursed among stakeholders (269,084) 91 (245,520) 91 Cash retained to fund replacement of assets and facilitate further growth 26, ,818 9 Employees State Lenders 16% 9% % 23% 9% % Shareholders Retentions 3% 65% 1% 61% Tanzania Breweries Limited Page 3

6 ENERGY EFFICIENCY As part of TBL s efforts to become more energy efficient, boilers were converted to run on natural gas, thereby reducing reliance on Heavy Furnace Oil with associated reductions in carbon emissions. Page 4 Tanzania Breweries Limited

7 Chairman s Statement The year under review was again most challenging for Tanzania Breweries Limited (TBL) due to a significant rise in key raw material input costs, higher fuel prices and the global economic downturn that started affecting us from the third quarter of the year. Nevertheless despite these challenges, performance exceeded expectations, with Group volume output rising by 7% to 2.9 million hectoliters which translated into an operating profit of Tshs 125 billion, a 11% improvement over last year. TBL maintained its proud record of annual growth in profit since the Company was listed on the Dar es Salaam Stock Exchange in Earnings per share increased from Tshs 242 per share to Tshs 262 per share, an improvement of 8% over the last year. Dividend per share for the year under review amounted to Tshs 150 down by Tshs 50 from 2008 due to capital expenditure on expansion and facility upgrade programe which required internal funding to supplement external loans. TBL continues to make a significant contribution to Government revenues by way of corporate, excise and value added taxes. Payments to Government increased from Tshs164 billion to Tshs billion, an increase of 16% over last year. In the year under review the Group continued to invest for the future of the business through appropriate investment in capital equipment. More than Tshs 74 billion was invested in fixed assets and a further Tshs 103 billion is planned for the coming year, which includes the construction of a new brewery in Mbeya which is due to be commissioned in November In order for TBL to grow, the country s infrastructure must be continuously improved and upgraded. Transport, water and electricity supplies require sustained improvement and upgrading. TBL shall co-operate with the Government in pursuit of this objective. I remain optimistic about what the future holds, not only for Tanzania Breweries Limited but also for the national economy. I am confident that TBL will continue its proud record of positive growth in earnings and its contribution to the economy of Tanzania. These achievements have been attained because of the commitment, dedication and hard work by the management and staff of the TBL Group. I would like to thank them all for the achievements. I would like to thank the directors of TBL for their wise counsel and dedicated service during the past year. The good performance of the Group in the year under review is a testimony to their service. I look forward to their exemplary contribution to TBL as well as towards the development of Tanzania in the years to come. Cleopa David Msuya Chairman These achievements are a testimony to the successful joint venture which was consumated when SABMiller, one of the largest brewers in the world, the Tanzanian Government and other shareholders invested in TBL. The joint venture has since benefited all shareholders, the national economy and the consumers of TBL products, as well as the committed and skilled labour force which makes TBL what it is. Looking ahead, TBL is committed to focusing on the following strategic objectives: 1) To produce and provide world class quality products and service to the Tanzanian consumer at affordable prices. 2) To integrate into the national economy and specifically expand the use of locally produced raw materials which are competitive in price and quality. In this context and against the background of the increase of world commodity prices, TBL will continue to promote local barley production for use in TBL Plants. 3) To continue with the current efforts to increase export sales of our products to neighbouring countries. A successful implementation of this strategic programme by TBL will contribute to the Company s financial performance, Tanzania s economic growth, job creation and poverty reduction, which are national policy objectives which we fully support. As a corporate citizen of the nation, TBL has continued to make contributions to community projects and the emphasis in the past year has been on educational, environmental, job creation and health projects. In the period ahead, TBL will prioritize sectors that will enhance the TBL image and legacy in the unfolding Tanzanian landscape, keeping policy objectives in mind. In this regard, the company has decided to set up a Trust to manage funds that shall be set aside for the purpose. Tanzania Breweries Limited Page 5

8 Taarifa ya Mwenyeketi Kipindi cha mwaka uliomalizika ulikuwa na changamoto kubwa kwa Kampuni ya Bia Tanzania kutokana na ongezeko kubwa za gharama za mali ghafi, bei kubwa za mafuta na kuporomoka kwa hali ya uchumi duniani ambapo kulituathiri kuanzia kipindi cha robo ya tatu ya mwaka. Pamoja na changamoto hizi mafanikio yalizidi matarajio; Uzalishaji wa bidhaa uliongezeka asilimia 7 kufikia uzalishaji wa hektolita millioni 2.9. Ongezeko hili liliipatia kampuni faida ya shillingi billioni 125, ongezeko la asilimia 11 ukilinganisha na mwaka jana. Kwa mara nyingine tena Kampuni ya Bia Tanzania inajivunia kujiwekea rekodi yake nzuri ya kukuza faida yake kwa kila mwaka tokea Kampuni ilipoorodheshwa katika Soko la Hisa la Dar es Salaam mwaka Mapato kwa hisa yameongezeka kutoka shillingi 242 mwaka jana hadi shillingi 262 mwaka huu, ikiwa ni ongezeko la asilimia 8. Gawio kwa hisa lilikuwa shillingi 150, ambayo ni chini ya kiwango cha mwaka 2008 kwa shillingi 50, hii imetokana na uwekezaji katika shughuli za upanuzi na ukarabati wa majengo na mitambo ambapo zinahitajika fedha za ndani zikisaidiana na mikopo kutoka nje kwa ajili ya kugharamia mipango hii. Kampuni ya Bia Tanzania imeendelea kutoa mchango wake mkubwa kwa Serikali kwa kulipa kodi ya mapato, ushuru na kodi ya ongezeko la thamani. Jumla ya malipo ya aina mbali mbali za kodi kwa Serikali yaliongezeka kutoka shillingi billioni 164 mwaka jana hadi shillingi billioni ongezeko la asilimia 16 ukilinganisha na mwaka jana. Kwa kipindi cha mwaka kilichomalizika, Kampuni imeendelea kuwekeza katika mustakabali wa biashara kwa kuwekeza kwenye mitambo muhimu inayotumika katika kuzalisha mali. Zaidi ya shillingi billioni 74 ziliwekezwa katika rasilimali za kudumu. Katika mwaka huu mpya, zaidi ya shillingi billioni 103 zimetengwa kupanua na kuimarisha viwanda vilivyoko na ujenzi wa kiwanda kipya cha bia huko Mbeya ambacho kinategemea kukamilika ifikapo Novemba Juhudi hizi ni ishara kamili ya matokeo ya mafanikio mazuri yatokanayo na makubaliano ya pamoja kati ya SABMiller, moja ya makampuni makubwa ya bia ulimwenguni, kwa upande mmoja, Serikali ya Tanzania pamoja na wadau wengine waliowekeza kwenye Kampuni hii kwa upande mwingine. Makubaliano haya yameweza kufaidisha kibiashara pande zote zilizoshiriki, kuchangia kukua kwa uchumi wa nchi yetu, kunufaisha wateja wanaoburudishwa na bidhaa zetu na wafanyakazi mahiri wa kampuni hii ambao ndio wanaifanya Kampuni yetu kuwa kama ilivyo na kuipatia sifa tele. Kwa mtazamo wa kipindi kilicho mbele yetu, Kampuni yetu imejidhatiti kutekeleza malengo yafuatayo: Kuzalisha na kusambaza bidhaa zilizo bora na zenye hadhi ya kimataifa pamoja na kutoa huduma kwa wateja wake kwa hali ya juu na gharama zinazokubalik Kuongeza utumiaji wa mali ghafi zizalishwazo hapa nchini, ambazo bei zake ni ahueni ukilinganisha na upatikanaji wa mali ghafi hizi ulimwenguni ambapo bei zake hupanda siku hadi siku kutokana na hali halisi na mienendo ya bei za nafaka ulimwenguni kwa sasa. Kwa mantiki hii, Kampuni itajitahidi kuongeza ulimaji wa shayiri hapa nchini ili kuwezesha uzalishaji wa kimea cha kutosheleza mahitaji ya viwanda vyetu vyote. Kuendeleza juhudi na mbinu za kuuza bidhaa zetu nje ya nchi hasa kwenye nchi jirani. Utekelezaji wa malengo na mbinu hizi utachangia sana kwenye kuiletea nchi yetu mafanikio makubwa hasa katika ukuaji wa uchumi wa nchi yetu, kuongezeka kwa ajira mbalimbali na kupunguza madhara yatokanayo na umasikini kwa Watanzania, ambayo ni baadhi ya malengo makuu ya nchi yetu ambayo Kampuni inaunga mkono moja kwa moja. Kama raia mwema, Corporate Citizen, Kampuni ya Bia Tanzania imeendeleza juhudi zake kuchangia katika kuleta maendeleo kwa jamii kwa kuwekeza kwenye nyanja za elimu, mazingira, ajira na afya kwa jamii. Kwa vipindi vijavyo, mwelekeo wa kampuni ni kuweka kipaumbele kwenye maeneo yatakayoboresha sifa zitakazoipa kampuni umaarufu kwenye mazingira yanayojitokeza, wakati huo huo kuzingatia sera zilizokubaliwa. Kwa mantinki hii basi, Kampuni imeanzisha Mfuko Maalamu (Trust Fund) kwa ajili ya matumizi ya fedha ambazo zitatengwa kwa ajili hii. Ili Kampuni iendelee kukua, haina budi miundo mbinu ya nchi iendelee kuboreshwa. Pia ni muhimu nishati ya umeme, maji, usafiri wa aina zote ziweko, ziwe zakuaminika na kuboreshwa kila wakati. Nina imani kubwa na hali nzuri ya kuridhisha ya baadae sio tu kwa Kampuni ya Bia, bali kwa uchumi wa nchi. Nina imani kubwa Kampuni ya Bia Tanzania itaendeleza rekodi yake ya mafanikio na ufanisi bora kiuzalishaji, kimasoko na kifedha ili kuiwezesha kuendelea kukua kwa mapato yake na gawio kwa wanahisa. Ningelipenda kuwashukuru Wakurugenzi wa Bodi ya Kampuni kwa ushauri wao wa busara na kujitolea kutoa ushauri katika kipindi chote cha mwaka uliopita. Utendaji mzuri huu niliouelezea ni ushahidi tosha wa juhudi zao. Nawashukuru kwa dhati kabisa. Ni matumaini yangu kuwa wataendeleza juhudi zao ili kuiwezesha Kampuni izidi kupata mafanikio na kuleta maendeleo ya nchi yetu ya Tanzania kwa miaka mingi ijayo. Cleopa David Msuya Mwenyekiti wa Bodi Page 6 Tanzania Breweries Limited

9 Vision, Mission & Company Values Vision To be the most admired Company in the beer industry in East Africa The investment of choice The employer of choice The partner of choice Mission To own and nurture local and international brands which are the first choice of the consumer Values Our people are our enduring advantage The caliber, passion and commitment of our people set us apart We value and encourage diversity We select and develop people for the long term Performance is what counts Accountability is clear and personal We favour decentralized management and a practical maximum of local autonomy Goals and objectives are aligned and clearly articulated We prize both intellectual rigour and emotional engagement We are honest about performance We require and enable self-management We work and win in teams We actively develop and share knowledge within the Group We consciously balance local and group interests We foster trust and integrity in internal relationships We encourage camaraderie and a sense of fun We understand and respect our customers and consumers We are endlessly concerned with our customers needs and perceptions We build lasting relationships, based on trust We aspire to offer the preferred choices of product and service We innovate and lead in a changing world Our reputation is indivisible Our reputation relies on the actions and statements of every employee We build our reputation for the long term We are fair and ethical in all our dealings We benefit the local communities in which we operate Brand led... Consumer focused. Tanzania Breweries Limited Page 7

10 Board of Directors The Directors of the Company at the date of this report, all of whom have served since 1 April 2008, unless otherwise stated, are: Hon. C.D. Msuya (Tanzanian) Chairman. He is the (Rtd) Vice President and Prime Minister and was appointed to the TBL Board on the 18 August For the year under review, he was an appointee of SABMiller Africa & Asia. Mr. Mark Bowman (South African) Managing Director of SABMiller Africa appointed to the TBL Board in December He is an appointee of SABMiller, Africa and Asia. Mr. D. Carruthers (British) Director of Marketing of SABMiller Africa & Asia, and has been serving the Board since July He is an appointee of SABMiller Africa & Asia. Mr. R. Goetzsche (South African) Director of Operations, East Africa, for SABMiller Africa & Asia and the Managing Director, Tanzania Breweries Limited. He was appointed to the Board on 6 January He is representing SABMiller Africa & Asia. Mr. J.G. Kiereini (Kenyan) Chairman of East African Breweries Limited, who have appointed him to the Board with effect from January Ambassador A.R. Mpungwe (Tanzanian) Businessman and Director of several companies, appointed by SABMiller Africa & Asia, in October Mr. J. Haule (Tanzanian) He is the Deputy Permanent Secretary, Ministry of Finance, sitting on the Board as the Government s representative with effect from March Mr. R.O.S. Mollel (Tanzanian) (Rtd) Permanent Secretary, Vice President s Office. Appointed to the Board in 1997, representing the Government of Tanzania up to April 2000, and from May 2002 to date, he is an appointee of SABMiller Africa & Asia, and is the Chairman of the Audit Committee. Ms. Joyce Mapunjo (Tanzanian) She is the Permanent Secretary, Ministry of Industry, Trade and Marketing. She was appointed to the Board in February 2009, representing the Government of Tanzania. Directors who resigned during the year: Mr. C. McDougall (South African) Managing Director, Tanzania Breweries Ltd - resigned 5 January Dr. S.L. Tax (Tanzanian) - resigned 16 February Mr. G.H. Nel (South African) Senior Finance Manager, SABMiller Africa & Asia. Appointed to the Board in February 2005, and represented SABMiller Africa & Asia. - resigned 30 July Operating Board: Mr. R. Goetzsche (South African), Managing Director, Tanzania Breweries Ltd - appointed 6 January 2009 Mr. K.H. O Flaherty (South African), Finance Director - appointed 1 May 2008 Mr. D. Minja (Tanzanian), Marketing Director - appointed 1 June 2008 Mr. P.J.I. Lasway (Tanzanian), Corporate Affairs Director Mr. D. Mgwassa (Tanzanian), Commercial Director (South) - appointed 1 June 2008 Mr. S.F. Kilindo (Tanzanian), Company Secretary/ Human Resources Director - appointed 1 March 2008 Mr. T.W. Gray (South African), Technical Director - appointed May 2007 Mr. N. Brookes (British), Commercial Director (North) - appointed 1 May 2008 Mr. C. McDougall (South African), Managing Director, Tanzania Breweries Ltd - resigned 5 January 2009 Mr. J.A. van Breda (South African), Finance Director - resigned 30 April 2008 Mr. J. Cochran (South African), Marketing Director - resigned 31 May 2008 Mr. A.B.S. Kilewo (Tanzanian) Former Executive Managing Director of Tanzania Breweries Limited, and the Managing Director of Tanzania Oxygen Limited. He was appointed in September In accordance with the Company s Articles of Association, the directors are not required to retire by rotation. Page 8 Tanzania Breweries Limited

11 WASTE WATER TREATMENT PLANT In the context of a city drastically short of water, the new water recovery plant will enable TBL to re-use 65% of its waste water in secondary, non-product applications. This effective recovery of water demonstrates our commitment to water conservation.

12 Report of the Directors PRINCIPAL ACTIVITIES The Company s principal activities are the production, distribution and sale of malt beer and alcoholic fruit beverages (AFB s) in Tanzania. It operates breweries in Dar es Salaam, Arusha and Mwanza and thirteen depots throughout the country. It also farms barley, which is used to produce malt at its malting plant in Moshi. The Company partially owns and manages Tanzania Distilleries Limited, a spirituous liquor company that is situated in Dar es Salaam. Tanzania Breweries Group owns some of Tanzania s most popular liquor brands, notably: Safari Lager Kilimanjaro Premium Lager Konyagi The Company also produces and distributes Castle Lager, Castle Milk Stout and Redds Premium Cold under licence from SABMiller Plc. The Company further manufactures and distributes certain East African Breweries (EABL) brands under licence, the most notable being Tusker Lager, Pilsner Lager and Guinness. Konyagi Ice is manufactured and distributed under licence from Tanzania Distillers Limited. The subsidiary undertaking, Tanzania Distilleries Limited, also distributes Amarula and various other international brands of wines and spirits under licence from Distell (Pty) Limited of South Africa. REVIEW OF BUSINESS AND FUTURE DEVELOPMENTS Sales for the year amounted to Tshs 464,199 million (2008: Tshs 383,181million), resulting in a profit after taxation of Tshs 80,797 million (2008: Tshs 74,195million). The level of business and the year end position is satisfactory. The Company will continue with its expansion and facility upgrade programme. The Directors consider that the future prospects of the Company and the Group are promising. EMPLOYEE WELFARE The Company provides medical services through its dispensary and other outside hospitals. Staff are entitled to access referral hospitals as the need arise. The company places considerable value on the involvement of its employees and has continued its previous practice of keeping them informed on matters affecting them as employees. This is achieved through formal and informal meetings. DISABLED PERSONS Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment with the company continues and that appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees. POLITICAL AND CHARITABLE DONATIONS The company did not make any political donations during the year. Donations made to charitable organizations during the year amounted to Tshs 392 million (2008: Tshs 353 million). AUDITORS The auditors, PricewaterhouseCoopers, have expressed their willingness to continue in office as auditors and are eligible for re-appointment. A resolution proposing the re-appointment of PricewaterhouseCoopers as auditors of the Company for the year 2010 will be put to the Annual General Meeting. BY ORDER OF THE BOARD DIVIDEND The total dividend for the year was Tshs 150 per share, compared with Tsh 200 per share paid last year. Similar to last year, no special dividend has been proposed by the Board for the year under review. The dividend, as was the case last year, has been paid by way of a first and second interim dividend of Tshs 60 and Tshs 90 per share respectively. Hon. C.D. Msuya Chairman Page 10 Tanzania Breweries Limited

13 Taarifa ya Wakurugenzi Shughuli Kuu Shughuli kuu za Kampuni hapa Tanzania ni kuzalisha, kusambaza na kuuza bia itengenezwayo kwa kimea; na vinywaji vilivyo na ladha ya matunda. Kampuni inamiliki viwanda vya bia kwenye miji ya Dar es Salaam, Arusha na Mwanza, pamoja na kuwa na maghala na vituo vya kuhifadhi na kuuza bia kumi na tatu kwenye mikoa mbali mbali hapa nchini.pia Kampuni inajishughulisha na ulimaji wa zao la shayiri na ina mtambo wa kusindika shayiri ili kupata kimea huko Moshi. Kampuni inamiliki hisa nyingi kwenye Kampuni ya kutengeneza vinywaji vikali (TDL) iliyoko Dar es Salaam. Kampuni ya Bia Tanzania na Kampuni yake tanzu inamiliki aina mbali mbali ya vileo hapa nchini; kama Safari Lager, Kilimanjaro Premium Lager, Konyagi. Aidha Kampuni inatengeneza na kusambaza bia aina ya Castle Lager, Castle Milk Stout, na Redds Premiun Cold kwa leseni na kibali cha SABMiller plc. Pia Kampuni inatengeneza na kusambaza baadhi ya bidhaa zinazomilikiwa na Kampuni ya Bia ya Afrika ya Mashariki (EABL) ambazo ni Tusker Lager, Pilsner Lager, Guinness na Guiness Malta. Kampuni ya Kutengeneza Vinywaji Vikali (TDL) ambayo ni kampuni tanzu ya Kampuni ya Bia Tanzania, inasambaza Amarula na aina nyingine mbali mbali za kimataifa za vinywaji vikali, mvinyo kwa kibali cha Distell (Pty) kutoka Afrika ya Kusini. Taarifa fupi ya kibiashara na matarajio ya baadaye Mauzo kwa mwaka ulioishia Machi yalifikia kiasi cha shillingi 464,199 millioni ( shillingi 318,181 millioni mwaka 2008); faida baada ya kodi ya mapato shillingi 80,797 millioni ( shillingi 74,195 millioni mwaka 2008). Hali ya kibiashara kwa kumalizia mwaka ni yakuridhisha kabisa. Kwa hali hii Kamuni itaendelea na mipango yake ya kupanua na kukarabati wa miundo mbinu ya uzalishaji na usambazaji. Wakurugenzi wana imani na matumaini makubwa kwa mafanikio ya kuridhisha ya Kampuni yetu kwa sasa na hapo baadaye. Maslahi ya Wafanyakazi Kila mfanyakazi anapatiwa matibabu bure kupitia vituo vyetu vya matibabu na ikibidi kwenye hospitali nje ya Kampuni na hospitali za rufaa. Kampuni inatilia maanani na kudhamini sana ushirikishaji na michango ya wafanyakazi katika uendeshaji wa Kampuni kwa kuhakikisha wanajulishwa kwa dhati kabisa mabo na matokeo yanayowahusu katika shughuli zao. Hii inafanyika katika mikutano na vikao vya mara kwa mara. Walemavu Maombi ya kazi ya wenzetu walemavu hupewa nafasi sawa sawa kama walio na hali kamili, kulingana na uwezo na utaalamu wa mwombaji. Ikiwa mfanyakazi ye yote atapata ajali ya kumfanya kuwa kilema, kila juhudi zitafanywa kulinda ajira yake kwa kumpatia mafunzo yatayomwezesha kuendelea na ajira yake. Kumsomesha, kumwendeleza na kumpandisha cheo kwa mfanyakazi mlemavu hakutofautiani na mfanya kazi mwingine kwani wote hupewa nafasi sawa kabisa. Michango ya kisiasa na Huduma kwa Jamii Kampuni haikutoa wala kushirika kuchangia kwenye shughuli zo zote za kisiasa kwa mwaka uliopita. Mchango wa Kampuni katika kuendeleza Jamii ilikuwa kiasi cha shillingi 392 millioni ( shillingi 353 millioni 2008), kiasi kikubwa kikilenga sekta ya Elimu. Wakaguzi wa Hesabu PricewaterhouseCoopers, ambao ni wakaguzi wetu wa mahesabu kama walivyochagulwa mwaka jana, wameonyesha nia yao yakuendelea na kazi ya kukagua mahesabu yetu mwakani na ni mapendekezo wateuliwe tena kuendelea. Azimio la kuwakukabalia kuendelea kuwa Wakaguzi wetu wa Mahesabu litapendekezwa kwenye Mkutano Mkuu wa Mwaka. AGIZO LA BODI YA WAKURUGENZI Gawio Lililopendekezwa na Kulipwa Jumla ya gawio kwa mwaka lilikuwa shillingi 150 kwa kila hisa, tofauti na ilivyokuwa mwaka uliotangulia. Sawa na mwaka uliopita hakukuwa na gawio maalumu ambalo lilipendekezwa na Bodi kwa kipindi cha mwaka wa mapitio. Gawio kama ilivyokuwa kwa mwaka uliopita, limelipwa kama gawio la kwanza na la pili la shillingi 60 na shillingi 90 kwa kila hisa kwa mfuatano huo. Mh C D Msuya Mwenyekiti Tanzania Breweries Limited Page 11

14 Corporate Governance Tanzania Breweries Limited continued to be committed to the highest standards of corporate governance set out in the Turnbull Report on Internal Control and appropriate best practice that has evolved from guidance issued by leading institutional investor bodies. The Board strives to provide the right leadership, strategic oversight, and control environment to produce and sustain delivery of value to all of the company s shareholders. The Board applies integrity, principles of good governance and accountability throughout its activities and each director brings independence of character and judgment to the role. All of the members of the board are individually and collectively aware of their responsibilities to the company shareholders. THE BOARD OF DIRECTORS The Board consists of Non-Executive Directors and the Managing Director and meets quarterly and has a formal schedule of matters referred to it for decision but otherwise delegates specific responsibilities to the Operating Board and Group Audit Committee. It retains, however, overall responsibility for the activities of the Company, including the implementation of corporate strategy. GROUP AUDIT COMMITTEE The Group Audit Committee monitors and reviews the effectiveness of the internal control and the internal financial control of the Company and its subsidiaries. The Group Audit Committee is a sub-committee of the Board and comprises of three Non-Executive Members. It is regulated by specific terms of reference and meets at least three times during the year. The Committee meets the external auditors and the internal audit departments to review inter alias, accounting, auditing, internal control, financial reporting matters and the published financial statements of the Company. The external auditors have unrestricted access, at all times, to the Group and subsidiary audit committees. Mr. R. O. S. Mollel has chaired the Group Audit Committee during the year. The overall objective of the Group Audit Committee is to ensure that the Operating Board has created and maintained an effective control environment within the organization and that management demonstrates and stimulates the necessary respect of the internal control structure amongst all parties. The Group Audit Committee members, as well as the internal and external auditors, have unlimited access to whatever information they require in performing their responsibilities. The Company also has an Audit Sub-Committee which meets quartely and reviews the effectiveness of risk management processes; the appropriateness and adequacy of the systems of internal financial and operational controls. The Audit Sub-Committee also tracks timeliness of management implementation of prior audit recommendations, and is chaired by the Group Internal Audit Manager. REMUNERATION COMMITTEE We have completed formation of the remuneration committee that will be responsible for the assessment and approval of a broad remuneration strategy for the Company, including short term incentives for executive and senior management. The remuneration strategy is aimed at rewarding employees at market related levels and in accordance with their contribution to the Company s operating and financial performance in terms of basic pay as well as short-term incentives. FINANCIAL STATEMENTS AND ANNUAL REPORT The responsibility for the preparation of the financial statements is that of the Company s Operating Board. The financial statements are prepared in accordance with generally accepted accounting practices, consistently applied, and in accordance with the requirements of the Tanzania Companies Act 2002 and International Financial Reporting Standards (IFRS). Reasonable judgment and estimates support the information contained in the financial statements. The Board of Directors is responsible for the integrity, objectivity, and reliability of the Annual Report. The Board of Directors believe that the financial statements fairly represent the financial position of the Company and the Group as at the end of the financial year and the results of its operations and cash flow information for the period then ended. EXTERNAL AUDITORS AND OUR RELATIONSHIP WITH THEM The external auditors are responsible for the independent review and the expression of an opinion on the truth and fairness of the financial statements. During the year, PricewaterhouseCoopers continued as the auditors of the Company. The Group Audit Committee has kept under review its policy on, and the independence and objectivity of, the external auditors. The committee examines the processes for and the nature and quantum of non-audit projects awarded to the auditors for compliance with the committee s policies. The committee is satisfied that the auditors have established internal policies and procedures to ensure services are not provided to the Company and its subsidiaries that would impair auditor independence. As a reassurance, the auditors are required to provide summary details highlighting relationships which the auditors consider might have a bearing on their independence and objectivity as well as written confirmation of independence and an assurance that all requirements for partner rotation have been met. The Group Audit Committee is satisfied that, for the period under review, the auditors have remained independent and objective in their assessments. RELATIONSHIP WITH SHAREHOLDERS During the year the Company held the statutory Annual General Meeting (AGM). A mandatory 21 days notice was issued together with annual reports detailing the Company s operations under the year of review. The Company paid considerable care and attention to ensure that the AGM was once again an informative, productive and positive experience for all involved. The Company considers the AGM a key event in disseminating information to shareholders which gives them the opportunity to ask questions to the Board. Prior to the meeting all members duly filed the registration forms including those who had proxy forms. The financial results were communicated directly to the various stakeholders including the regulator via the newspapers. SHARE DEALINGS BY DIRECTORS AND OFFICERS The Company operates closed periods prior to publications of its interim and final results. The closed periods are from 1st October and1st April until the date of publication of the results. During these periods, directors, officers and employees of the Company may not deal in shares or any other instrument pertaining to the shares of the Company. Page 12 Tanzania Breweries Limited

15 Managing Director s Report Tanzania Breweries Group (TBL) is once again pleased to report an outstanding performance for the twelve months ended 31 March Sales Revenue grew by 21% on the same period last year, and operating profit by 11%. The growth in sales was due to organic growth in clear beer, wines and spirits volumes. Volume growth benefited from more effective promotional activities as well as an increase in disposable income mainly from agriculture, urban consumption and the multiplier effect from increased mining activities. Clear beer volumes grew by 6.1% during the past financial year, with North East Region performing particularly well. The drought conditions in certain areas of the country during financial year added pressure to the business, nevertheless performance for the year exceeded expectations. Export volumes grew, recording a 74% increase compared to the previous year. The interruptions in water and electricity supply during the year had an impact on production efficiencies and costs. Despite increased operation cost pressures resulting from a combination of rising oil and raw materials prices, together with a depreciating shilling which made imports even more expensive, as well as unfavourable trading conditions resulting from uncharacteristic weather conditions, the group s cash generated from operating activities still exceeded Tsh 111 billion. Of this amount Tsh 29 billion was utilised to pay corporate tax, Tsh 75 billion funded capital expenditure and interest while Tsh 45 billion was paid as dividends to shareholders. To reduce the impact of imported raw materials prices, the company has continued promoting sourcing of its key raw materials locally, a policy that has also created new livelihoods. Project Saidiana is one of the initiatives geared towards developing a market for local barley farmers. With this project we expect Tanzania to achieve self sufficiency in providing this critical raw material, saving precious foreign exchange, while providing income to a significant number of small scale farmers. The Saidiana project covers the southern highlands area - Rukwa, Mbeya, Iringa and Ruvuma Regions and will, apart from fulfilling TBL requirements, also contribute to poverty alleviation through contract farming. In line with this initiative, Arusha Brewery in North East Tanzania recently launched Eagle Lager, which is produced from local sorghum. The same applies for Winery development in Central Dodoma region where grapes produced from small scale farmers are used by Tanzania Distilleries in the production of Valeur brandy and Overmeer box wine. Total production volumes for the year were 7.4% higher than the previous year. This resulted in plant utilisation running at 60%, which enhanced productivity considerably and recorded good improvement in both packaging and operating efficiencies to 60.5% and 69.2% from 57% and 63.4% last period respectively. As a result of this, the company achieved energy reduction across the board. Mwanza plant did particularly well as the production volume increased by 14.1% from last year. Brewer s taste results were up to 7.45 from previous year TBL achieved a record Malt production of 9,700 tons. Due to anticipated demand we will invest more than US$ 55 million to build a fourth brewery in Mbeya, which is due to start producing in November A fourth packaging line in Dar es Salaam Brewery has been installed and came on line in May 2009, with a capacity of producing 48,000 returnable bottles each hour. Wines and spirits also recorded good volume growth of 14.8% compared to last year. Nevertheless, the company has been fighting counterfeit homemade Konyagi to ensure brand integrity and availability of a genuine quality product. Through continued implementation of tax stamps, supported by the Tanzania Revenue Authority (TRA), the threat of rampant tax evasion has been reduced, but still continues to pose a threat. Tanzania Distilleries market share has improved while simultaneously enhancing margins and profitability further. Over the past year TBL has introduced and supported numerous innovations as far as our brand portfolio is concerned. During the year we introduced packaging graphics upgrade new labels for our brands, Safari lager and Castle lager. These were supported with a new package of brand, commercial communication, television, radio, print, outdoor and point of sale material. We also launched Kilimanjaro Premium lager in a non returnable 330ml bottle offering, adding to the existing 330ml can while Malta Guinness moved into a non returnable 300ml bottle. TBL will continue to ensure that our brand portfolio keeps abreast of the changing consumer dynamics to meet our consumer expectations. During the year the Route to Market (RTM) Project was launched with a view of developing profitable and sustainable beer distribution centres, reducing price to retail eventually leading to better recommended retail pricing and products availability. In the long term, the project s vision is to transform Wholesalers and Bulk buyers into Distribution Centres that will focus on distributing beer to retail outlets at Recommended Prices. The objective is to own the distribution channel to retail. The company continued adhering to SABMiller s The Responsible Way principles, a communication pack that provides our business with all the information and guidance needed in implementing our alcohol manifesto and, in particular, the Code of Commercial Communication. As one of the leading brewers in East Africa, TBL believe that our brands contribute to the enjoyment of life for the overwhelming majority of our consumers, who drink responsibly. We also care about the harmful effect of irresponsible alcohol consumption on individuals and society. We have continued with our program of educating retailers to sell our products responsibly. We are one of key stake holders in National Road Safety through our contributions to the National Road Safety Council which encourages consumers to plan responsibly to avoid drinking and driving. The company has lived up to its promise of investing in the social cause to the community in the areas of Health, Water, Education and Job Creation. The year under review has seen numerous contributions to the nationwide campaign of building secondary schools in different regions. Mwananyamala Hospital in Dar es Tanzania Breweries Limited Page 13

16 Salaam was among the beneficiaries of the water support project that involved putting up two new water pumps and the rehabilitation of their water supply infrastructure. In 2008 Tanzania Breweries Ltd plants participated in the NOSA grading programme in terms of health and safety at the work place. Mwanza Plant achieved the highest, a 5 Star NOSA rating, while Arusha and Dar es Salaam plants each scored a 4 Star NOSA rating. This is a demonstration of our company s commitment to employees health and safety at the workplace as well as the environment we operate in. The coming year will see Arusha and Dar aiming for a 5 Star Platinum grading while striving to maintain the 5 Star in Mwanza. TBL strongly believes that People make the difference and the company continues to invest in the development of its staff. The Performance Management Way initiative was launched in During the past year; we spent approximately 3% of our payroll on training and development, very commendable by any international measure. On average each employee underwent 7 days of training, in line with the American Society for Training and Development s benchmark. Training ranged from technical, hands-on training in all aspects of our production engineering disciplines, to marketing, sales and customer service and management training and development. The company remains committed to the fight against HIV/AIDS, continuing with HIV/AIDS education and awareness campaigns aimed at equipping employees with life skills that will influence behaviour change and prevent infection amongst employees. The treatment of opportunistic infections and Sexual Transmitted Diseases (STD s) is provided free of charge at all TBL medical facilities. The outlook for the year ahead will depend on the sustainability of the economy and the utilities infrastructure, the strength of the Tanzanian shilling and the impact of excise and other direct tax increases. However, the Board remains optimistic that the Tanzania Breweries Group will maintain its proud record of achieving positive earnings and dividend growth in the year ahead Mr. Robin Goetzsche MANAGING DIRECTOR Page 14 Tanzania Breweries Limited

17 Taarifa ya Mkurugenzi Mkuu Kampuni ya Bia Tanzania (Tanzania Breweries Limited) kwa mara nyingine tena inayo furaha kutangaza matokeo mazuri ya kiutendaji kwa kipindi cha miezi kumi na mbili cha mwaka ulioishia tarehe 31 Machi Mapato ya kampuni yaliongezeka kwa asilimia 21 ikilinganishwa na kipindi kama hicho mwaka jana. Faida ya uendeshaji iliongezeka kwa asilimia 11 kutokana ukuaji wa mauzo ya bia na bidhaa zitokanazo na mvinyo na vinywaji vikali. Ongezeko hili la mauzo limechangiwa na jitihada na mbinu dhabiti za mauzo na ukuaji wa pato la matumizi ya binafsi la wananchi hasa kutokana na kilimo, kukua kwa miji na matokeo ya kukua kwa sekta ya madini. Mauzo ya bia yaliongezeka kwa asilimia 6.1 katika mwaka wa fedha uliomalizika, kanda ya Kaskazini Mashariki ikiongoza kwa kufanya vizuri. Madhara yaliyotokana na ukame katika baadhi ya maeneo nchini yalichangia kuathirika kwa hali ya kibiashara, pamoja na kwamba matokeo ya utendaji yalizidi mategemeo. Mauzo ya nje yalikua kwa rekodi ya asilimia 74 ukilinganisha na mwaka uliopita. Kukatika kwa umeme na maji mara kwa mara kulichangia sana kupunguza ufanisi wa kiutendaji na kuongezeka kwa gharama za uzalishaji. Pamoja na ongezeko la gharama za uzalishaji zilizotokana na ongezeko la bei ya mafuta na mali ghafi, kuteremka kwa thamani ya sarafu ya Tanzania, kulisababisha uagizaji nje kuwa na gharama kubwa. Licha ya hali duni ya kufanya biashara iliyosabishwa na hali mbaya ya hewa isiyokuwa ya kawaida, kiasi cha fedha kilichotokana na utendaji wa shughuli mbalimbali kilizidi shillingi billioni 111; kati ya hizo shillingi billioni 29 zilitumika kulipia kodi ya mapato, shillingi billioni 75 ziliwekezwa katika kuboresha mitambo na majengo na kulipa riba, wakati shillingi billioni 45 zililipwa kama salio kwa wanahisa. Ili kupunguza makali yatokanayo na gharama za ununuzi wa mali ghafi kutoka nje, kampuni imeendelea na juhudi za kununua baadhi ya mali ghafi zake kuu humu nchini, sera ambayo imezalisha matumaini mapya. Mradi wa Saidiana, ni mbinu iliyobuniwa kwa makusudi ya kuibua soko la uhakika kwa zao la shayiri linalolimwa hapa nchini. Utekelezaji mradi huu utaiwezesha Tanzania kujitegemea kuzalisha zao hili muhimu la shayiri na kuokoa fedha za kigeni ambazo zinahitajika kununua zao hili nje ya nchi, na wakati huo huo kuwapa kipato wakulima wadogo wadogo. Mradi huu wa Saidiana umebuniwa kwa ajili ya eneo la kanda za juu Kusini yaani mikoa ya Rukwa, Mbeya, Iringa na Ruvuma. Pamoja na kutimiza mahitaji ya mali ghafi kwa Kampuni ya Bia, mradi huu utachangia kupunguza umaskini kwa kuingia kwenye kilimo cha mikataba. Sambamba na mradi huu, Kiwanda cha Arusha kilichoko Kanda ya Kaskazini Mashariki ya Tanzania, kilizindua bia aina ya Eagle inayozalishwa kutokana na mtama ulimwao hapa nchini. Vivyo hivyo, Kampuni ya Konyagi (Tanzania Distilleries Limited) inatumia zabibu zinazolimwa na wakulima wadogo wadogo Dodoma kwenye uzalishaji wa brandi ya Valeur na mvinyo aina ya Overmeer. Katika mwaka wa fedha uliopita uzalishaji ulikua asilimia 7.4 ukilinganisha na mwaka uliopita. Ongezeko hili limewezesha matumizi ya mitambo kufikia asilimia 60, kufanya uzalishaji uwe wa hali ya juu sana na kuweka rekodi ya uzalishaji bora kwenye sehemu ya ujazaji bia na uendeshaji wa mitambo kufikia asilimia 60.5, na 69.4 kulinganisha na asilimia 55.3 na 63.7 mwaka ulipoita. Kwa matokeo hayo, kampuni iliweza kupata ahueni katika matumizi ya nishati kwa maeneo yote. Kiwanda cha Mwanza kilifanya vizuri kwa uzalishaji kuongezeka kwa asilimia 14.1 ukilinganisha na mwaka uliopita. Matokeo ya uonjaji wa bia yalionyesha kuwa ubora wa bia uliongezeka na kufikia alama 7.45 kulinganisha na alama 7.04 mwaka uliopita. Kampuni ya Bia Tanzania iliweza kufikia kiwango cha awali cha uzalishaji kimea tani 9,700. Kutokana na kuongezeka kwa mahitaji ya bia, tutawekeza zaidi ya dola za Kimarekani millioni 55 kwa kujenga kiwanda cha nne huko Mbeya; ambacho kinatarajia kuanza uzalishaji mwezi Novemba Mtambo wa Nne wa kujaza bia kwenye chupa unajengwa kwenye kiwanda cha Dar es Salaam na unatarajia kukamilika mnamo Aprili Mtambo huu una uwezo wa kujaza chupa 48,000 kwa saa. Uzalishaji wa mvinyo na vinywaji vikali uliongezeka kwa asilimia 14.8 ukilinganisha na mwaka jana. Kampuni imekuwa ikipambana na konyagi haramu zinazotengenezwa majumbani kinyemela bila ya utaalamu wowote, kwa minajili ya kuhakikisha umakini, ubora na upatikanaji wa Konyagi halisi. Uwekaji wa stampu kama Mamlaka ya Kodi Tanzania (TRA) inavyosisitiza, umesaidia kupunguza ukwepaji wa kodi, licha ya kwamba hili bado ni tishio kubwa. Soko la Kampuni ya Konyagi limekuwa likiongezeka na wakati huo huo kuwezesha faida kuongezeka zaidi. Mwaka jana, Kampuni ya Bia Tanzania imebuni na kuanzisha mikakati mingi kwa ajili ya kuimarisha aina zetu mbali mbali za bia. Kwa mwaka huo tulifanya marekebisho kwenye nembo ya chupa nembo mpya kwa bia ya Safari na Castle. Mabadiliko haya yalihusisha pia aina mpya ya matangazo ya kibiashara kwenye luninga, radio, magazeti, mabango na vipeperushi mbalimbali. Pia tulizindua Kilimanjaro Premium lager kwenye chupa ya moja kwa moja ya ujazo wa milimita 330, hii ni ongezeko kwenye ujazo wa milimita 330 wa kopo uliopo, wakati Malta Guinness pia ilianza kupatikana kwenye chupa hiyo hiyo. Kampuni ya Bia Tanzania itaendelea kuhakikisha kuwa aina za bia zetu zinakwenda sambamba na mabadiliko na matakwa ya wateja wetu ili kukidhi na mahitaji yao. Kwa kipindi hicho, mradi wa Route to Market (RTM) ulizinduliwa kwa minajili ya kuanzisha njia mbadala ya usambazaji wenye faida zaidi, kupunguza bei za reja reja, wakati huo kudhibiti bei kwa mlaji wa reja reja na upatikanaji wa bia kwa wingi. Lengo la muda mrefu la mradi huu ni kuwabadilisha wauzaji wa jumla na wanunuzi wa jumla kuwa vituo vya usambazaji, ambavyo vitaweka maanani usambazaji wa bia kwa wauzaji wa rejareja kwa bei zilizodhibitiwa na kuhakikiwa. Nia ni kumiliki njia zote za usambazaji hadi ngazi ya reja reja. Tanzania Breweries Limited Page 15

18 Page 16 Tanzania Breweries Limited

19 Notes to Financial Statements UBUNGO DISTRIBUTION WAREHOUSE The new warehouse situated at Ubungo was commissioned during November This allows for more efficient distribution of TBL s products, whilst simultaneously relieving city congestion through inter-depot night transfers. Tanzania Breweries Limited Page 17

20 Kampuni iliendeleza mfumo wa SABMiller The Responsible Way, ambao ni mkusanyiko wa maelekezo mbalimbali ambayo yanaipa biashara yetu mwelekeo na maelekezo yote yanayohitajika kwa kutekeleza dira yetu kuhusu kilevi na kanuni kuhusu mawasiliano ya biashara yetu. Kama mmoja wa watengenezaji wakubwa wa kileo katika Afrika ya Mashariki, Kampuni ya Bia Tanzania inaamini na kusisitiza kwamba aina zetu mbali mbali za bia zinasaidia kuleta furaha na raha kwa wengi wa wateja wetu ambao wanakifurahia kinywaji chetu kwa uangalifu. Tunajali madhara yanayoweza kutokea kwa wateja wale ambao wanakunywa bila kujali na madhara kwa mnywaji mwenyewe na jamii kwa ujumla. Tumeendelea na mikakati yetu ya kuelemisha wauzaji wetu wa reja reja kuwauzia wateja bidhaa zetu kwa uangalifu. Kampuni imekuwa mmoja ya wadau wazuri wa Wiki ya Kwenda kwa Usalama Barabarani kwa kuchangia kwa hali na mali kwenye Baraza la Taifa la Kwenda kwa Usalama. Kampuni imetimiza ahadi zake kwa kuwekeza katika maeneo muhimu kwa jamii hasa Afya, Maji, Elimu, na Ajira. Mwaka uliomalizika, kampuni imeshiriki kikamilifu kwenye jitihada za Kitaifa za kujenga shule za sekondari kwenye mikoa mbali mbali. Hospitali ya Mwanyamala Dar es Salaam ilikuwa mmoja wa wafaidika wa mradi kabambe wa maji uliohusu ununuzi na ujenzi wa mashine mbili za kusukuma maji na ukarabati wa mfumo mzima wa maji hospitalini hapo. mbalimbali zitakazowafanya wabadili tabia na kuzuia maambukizi mapya ya UKIMWI. Matibabu ya magonjwa yanayoambatana na UKIMWI pamoja na yale yanayoambukizwa kwa njia ya zinaa huwa yanatolewa bure katika zahanati za Kampuni. Mtazamo wa huko mbele unategemea hali ya uchumi na ufanisi wa mamlaka husika katika kufanikisha na kuongeza ubora wa miundo mbinu, kuimarika kwa sarafu ya Tanzania na faida au hasara zinazotokana na ongezeko la kodi ya forodha na kodi nyinginezo. Pamoja na hayo, Baraza la Wakurugenzi linaimani na matumaini makubwa, TBL na Kampuni yake tanzu itaendelea na rekodi yake safi na ya kujivunia ya kupata matokeo mazuri ya mapato na ongezeko la gawio katika mwaka unaokuja. Robin Goetzsche Mkurugenzi Mkuu Mwaka 2008 Viwanda vyote vya Kampuni ya Bia Tanzania vilishiriki kwenye mpango wa Usalama na Afya Kazini (NOSA). Kiwanda cha Mwanza kiliibuka mshindi kwa kuweza kujipatia alama ya Nyota Tano (5 Star Nosa rating), wakati viwanda vya Arusha na Dar es Salaam kila kimoja kiliibuka na ushindi wa alama Nne. Hii ni ishara tosha kabisa kwamba Kampuni yetu inajali afya na usalama wa wafanyakazi wake mahali pa kazi na kwenye mazingira yake. Mwaka ujao unaleta changamoto kwa viwanda vya Arusha na Dar es Salaam kuwania tuzo ya alama ya tano, wakati Mwanza ikijitahidi kulinda tuzo yake iliyopata. Kampuni ya Bia Tanzania inaamini kwa dhati kabisa Watu ndio waletao mabadiliko, hivyo Kampuni imeendeleza uwekezaji kwenye maendeleo ya wafanya kazi wake. Mfumo wa Performance Management Way ulizunduliwa mwaka Kwa kipindi cha mwaka huo kampuni ilitumia kiasi cha karibu asilimia 3 ya mishahara kwa ajili ya mafunzo na maendelezo ya wafanyakazi, kiasi ambacho kinakubalika kwa vigezo vyovyote vya kimataifa. Kwa wastani kila mfanyakazi alitumikia idadi ya siku saba kwa ajili ya mafunzo, kiasi muafaka kinachokubalika na American Society for Training and Development. Mafunzo haya yalishirikisha kuanzia utaalamu, mafunzo ya vitendo kwenye nyanja za uzalishaji, masoko na huduma kwa wateja na uongozi. Kampuni inaendelea na dhamira yake ya kupambana na maambukizi ya virusi vya UKIMWI na kampeni ya kutoa na kuongeza elimu ya ugonjwa huu ambayo inawapa wafanyakazi na jamii zao mbinu Page 18 Tanzania Breweries Limited

Annual Report and Accounts. with. Tanzania

Annual Report and Accounts. with. Tanzania 2011 Annual Report and Accounts with Tanzania Its been 81 years since the opening of our first brewery Tanzania Breweries began as Tanganyika Breweries in 1930. The company was renamed to Tanzania Breweries

More information

Annual Report Bringing together world class capabilities

Annual Report Bringing together world class capabilities Annual Report 2016 Bringing together world class capabilities 1 Table of contents 1. 10 Year Review...18 2. Cash value added statement...19 3. Chairman s statement...22 4. Taarifa ya Mwenyekiti...26 5.

More information

Table of Contents Year Review. 4 Group Cash Value Added Statement. 5 Chairman s Statement. 9 Vision, Mission & Company Values

Table of Contents Year Review. 4 Group Cash Value Added Statement. 5 Chairman s Statement. 9 Vision, Mission & Company Values In celebration of the successful partnership between the Tanzanian government and SABMiller over the last 20 years, we introduce to you the legends that walked this journey and their stories. With SABMiller

More information

REGULATIONS. Made under section 28 THE NATIONAL INDUSTRIES (LICENSING AND REGISTRA- TION) ACT, 1967

REGULATIONS. Made under section 28 THE NATIONAL INDUSTRIES (LICENSING AND REGISTRA- TION) ACT, 1967 THE NATIONAL INDUSTRIES (LICENSING AND REGISTRA- TION) ACT, 1967 (No. 10 OF 1967) REGULATIONS Made under section 28 THE NATIONAL INDUSTRIES REGULATIONS, 2000 Short title Interpretation Act No. 10 of 1967

More information

Achieving more together

Achieving more together 2017 Annual Report Achieving more together A proud part of the family Performance in a snapshot For the year ended 31 March 2017 10 Years review 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 Sales

More information

Vodacom Tanzania Public Limited Company. Annual report for the year ended 31 March 2017

Vodacom Tanzania Public Limited Company. Annual report for the year ended 31 March 2017 Vodacom Tanzania Public Limited Company Annual report for the year ended 31 March 2017 Monetise data and digital opportunities Vodacom Tanzania Public Limited Company ( Vodacom Tanzania or the Company

More information

TANGA CEMENT PLC ANNUAL REPORT TAARIFA YA MWAKA.

TANGA CEMENT PLC ANNUAL REPORT TAARIFA YA MWAKA. TANGA CEMENT PLC 2016 ANNUAL REPORT TAARIFA YA MWAKA www.simbacement.co.tz ANNUAL REPORT 2016 Contents Financial Summary 1 Directors Profiles 3 Chairperson s Statement 7 Managing Director s Report 11 Corporate

More information

REPORT AND FINANCIAL STATEMENTS for the year

REPORT AND FINANCIAL STATEMENTS for the year REPORT AND for the year Chai Tausi, Bidhaa bora kutoka TATEPA na Wakulima wa Chai Rungwe 2014 2015 Table of Contents Contents...2 Pictures...3 Chairman s Statement (swahili & english)... 4 Financial

More information

Annual Report for the year ended December 31, 2017

Annual Report for the year ended December 31, 2017 Annual Report for the year ended December 31, 2017 Contents 01. Financial highlights 4 02. TCC at a glance 8 Our vision and mission 9 Our values 10 Our history 11 03. To our stakeholders 16 Message from

More information

Tanzania Cigarette Company Ltd. Annual report for the year ended December 31, 2014

Tanzania Cigarette Company Ltd. Annual report for the year ended December 31, 2014 Tanzania Cigarette Company Ltd Annual report for the year ended December 31, 2014 2 Contents 01. Financial highlights 4 02. TCC at a glance 8 Our vision and mission 9 Our values 10 Our History 11 03. To

More information

ANNUAL REPORT TAARIFA YA MWAKA. Demonstrate environmental stewardship and promote sustainability in communities.

ANNUAL REPORT TAARIFA YA MWAKA. Demonstrate environmental stewardship and promote sustainability in communities. ANNUAL REPORT TAARIFA YA MWAKA 2013 Demonstrate environmental stewardship and promote sustainability in communities. TAARIFA YA MWAKA 2013 ANNUAL REPORT 2013 Demonstrate environmental stewardship and promote

More information

CARBACID INVESTMENTS LIMITED REPORT AND FINANCIAL STATEMENTS 2012

CARBACID INVESTMENTS LIMITED REPORT AND FINANCIAL STATEMENTS 2012 CARBACID INVESTMENTS LIMITED REPORT AND FINANCIAL STATEMENTS 2012 contents PAGES Corporate information 2 Board of directors 3 Notice of meeting 4 Chairman s statement 5-6 Taarifa ya mwenyekiti 7-8 Report

More information

Annual Report 2009 Taarifa ya Mwaka

Annual Report 2009 Taarifa ya Mwaka Annual Report 2009 Taarifa ya Mwaka Taarifa ya Mwaka 2009 1 Contents Yaliyomo Financial Summary 2 Board of Directors and Profiles 4 Chairperson s Statement 8 Managing Director s Report 10 Corporate Social

More information

Tanzania Cigarette Company Limited (TCC) Annual Report for the year ended December 31,2016

Tanzania Cigarette Company Limited (TCC) Annual Report for the year ended December 31,2016 Tanzania Cigarette Company Limited (TCC) Annual Report for the year ended December 31,2016 2 Tanzania Cigarette Company Limited (TCC) Contents 01. Financial highlights 4 02. TCC at a glance 10 Our vision

More information

JAMHURI YA MUUNGANO WA TANZANIA WIZARA YA FEDHA NA UCHUMI

JAMHURI YA MUUNGANO WA TANZANIA WIZARA YA FEDHA NA UCHUMI JAMHURI YA MUUNGANO WA TANZANIA WIZARA YA FEDHA NA UCHUMI HOTUBA YA WAZIRI WA FEDHA NA UCHUMI, MHESHIMIWA MUSTAFA HAIDI MKULO (MB.), AKIWASILISHA BUNGENI TAARIFA YA HALI YA UCHUMI WA TAIFA KWA MWAKA 2007

More information

Endless Possibilities

Endless Possibilities Endless Possibilities 2015 Annual Report & Financial Statements Milestones Pan Africa Insurance Holdings Limited was incorporated on 26th October 1946, then known as Indo Africa Insurance Company Limited

More information

Annual Report 2002/2003. Corporate Information 2 Maelezo juu ya Kampuni. Board of Directors 3 Halmashauri ya Wakurugenzi

Annual Report 2002/2003. Corporate Information 2 Maelezo juu ya Kampuni. Board of Directors 3 Halmashauri ya Wakurugenzi 1 CONTENTS YALIYOMO Page Ukurasa Corporate Information 2 Maelezo juu ya Kampuni Board of Directors 3 Halmashauri ya Wakurugenzi Management Team 4 Timu ya Wasimamizi Notice of Meeting 5 Ilani ya Mkutano

More information

TANGA CEMENT PLC ANNUAL REPORT

TANGA CEMENT PLC ANNUAL REPORT TANGA CEMENT PLC ANNUAL REPORT TAARIFA YA MWAKA 2015 ANNUAL REPORT 2015 Contents Financial Summary 1 Directors Profiles 3 Chairperson s Statement 7 Managing Director s Report 11 Corporate Social Investments

More information

Financial Year Ended 30 June Kenya Electricity Generating Company Limited 2013 Annual Report & Financial Statements

Financial Year Ended 30 June Kenya Electricity Generating Company Limited 2013 Annual Report & Financial Statements 61 st Annual Report & Financial Statements Financial Year Ended 30 June 2013 i 2013 Annual Report & Financial Statements Ngong Wind Farm ii 2013 Annual Report & Financial Statements Significant Facts Profile

More information

Standard Chartered Bank Kenya Limited Annual Report Driving investment, trade and the creation of wealth in Kenya

Standard Chartered Bank Kenya Limited Annual Report Driving investment, trade and the creation of wealth in Kenya Standard Chartered Bank Kenya Limited Annual Report 2013 Driving investment, trade and the creation of wealth in Kenya Standard Chartered Bank Kenya Limited Annual Report 2013 1 Contents Business Review

More information

Highlights TZS Billion. TZS Billion. Total income. Net profit. TZS Billion. Total Assets 1,384 1, ,039 1,862 1,780

Highlights TZS Billion. TZS Billion. Total income. Net profit. TZS Billion. Total Assets 1,384 1, ,039 1,862 1,780 Annual Report / Taarifa ya Mwaka 2008 Highlights 2008 160 154 50 49 140 120 100 135 101 40 30 39 35 80 60 20 TZS Billion 40 20 0 2008 2007 2006 TZS Billion 10 0 2008 2007 2006 Total income Net profit 160

More information

What s inside this report

What s inside this report CONTENTS 1 What s inside this report 2-7 50th Anniversary Highlights HIGHLIGHTS 8-9 Notice of Annual General Meeting Tangazo la Mkutano Mkuu wa Mwaka 10 Corporate Governance 11 Performance Highlights 12-18

More information

CARBACID INVESTMENTS LIMITED REPORT AND FINANCIAL STATEMENTS 2015 CO2

CARBACID INVESTMENTS LIMITED REPORT AND FINANCIAL STATEMENTS 2015 CO2 CARBACID INVESTMENTS LIMITED REPORT AND FINANCIAL STATEMENTS 2015 CO2 contents PAGES Corporate information 2 Board of directors 3 Notice of meeting 4 Chairman s statement 5-6 Taarifa ya mwenyekiti 7-8

More information

Integrated Annual Report and Financial Statements for the year ended 31 December 2014

Integrated Annual Report and Financial Statements for the year ended 31 December 2014 1 2 3 4 Corporate Information Registered Office & Principal Place of Business LR No. 12081/9 Mombasa Road PO Box 30429 00100 Nairobi GPO. Company Secretary Edgar Jumba Imbamba P.O. Box 30429, 00100 Nairobi

More information

SAFARICOM LTD ANNUAL REPORT 2014

SAFARICOM LTD ANNUAL REPORT 2014 SAFARICOM LTD ANNUAL REPORT 2014 A ONE // HIGHLIGHTS 04 PERFORMANCE AT A GLANCE 06 CHAIRMAN S STATEMENT 10 CEO S STATEMENT TWO // BUSINESS REVIEW 16 WHAT WE DO 18 THE VALUE WE CREATE 20 HOW WE ARE MANAGED

More information

Our Vision Enabling people to advance with confidence and success.

Our Vision Enabling people to advance with confidence and success. Pg 1 DIAMOND TRUST BANK KENYA LIMITED ANNUAL REPORT & FINANCIAL STATEMENTS 2011 CORPORATE PHILOSOPHIES Our Vision Enabling people to advance with confidence and success. Our Mission To make our customers

More information

of contents table Tanzania Portland Cement Company Ltd, Annual Report 2010 Figures in TZS Letter of Transmittal 2

of contents table Tanzania Portland Cement Company Ltd, Annual Report 2010 Figures in TZS Letter of Transmittal 2 ANNUAL FinancialHighlights table of contents Letter of Transmittal 2 Barua ya kuwasilisha 3 Chairman s Statement 6 Figures in TZS 000 2005 2006 2007 2008 Number of employees (yearly average) 292 304 312

More information

British American Tobacco Kenya plc. Annual Report Cautionary statement

British American Tobacco Kenya plc. Annual Report Cautionary statement We are a strong Company with over 10 brands sold in the Kenyan market. We employ directly and indirectly over 1,800 people and we make cigarettes chosen by a majority of Kenya s adult smokers. BAT Kenya

More information

SPECIAL BILL SUPPLEMENT THE FINANCE ACT, 2015 ARRANGEMENT OF PARTS PART II AMENDMENT OF THE BANK OF TANZANIA, (CAP. 197)

SPECIAL BILL SUPPLEMENT THE FINANCE ACT, 2015 ARRANGEMENT OF PARTS PART II AMENDMENT OF THE BANK OF TANZANIA, (CAP. 197) ISSN 0856-035X THE UNITED REPUBLIC OF TANZANIA SPECIAL BILL SUPPLEMENT No. 1 11 th June, 2015 to the Gazette of the United Republic of Tanzania No. 24 Vol. 96 dated 12 th June, 2015 Printed by the Government

More information

Annual Report and Financial Statements

Annual Report and Financial Statements 2013 Annual Report and Financial Statements 2 2013 Annual Report and Financial Statements Our Vision To be a dynamic company committed to exceeding customer expectation and increasing our market share

More information

2012 ANNUAL REPORT AND FINANCIAL STATEMENTS

2012 ANNUAL REPORT AND FINANCIAL STATEMENTS ANNUAL REPORT AND FINANCIAL STATEMENTS GROWTH INNOVATION RESEARCH Vision To be the ultimate provider of innovative and reliable tyre solutions. Mission To provide safe mobility with unparalleled experience.

More information

CARBACID INVESTMENTS LIMITED REPORT AND FINANCIAL STATEMENTS 2014 CO2

CARBACID INVESTMENTS LIMITED REPORT AND FINANCIAL STATEMENTS 2014 CO2 CARBACID INVESTMENTS LIMITED REPORT AND FINANCIAL STATEMENTS 2014 CO2 contents PAGES Corporate information 2 Board of directors 3 Notice of meeting 4 Chairman s statement 5-6 Taarifa ya mwenyekiti 7-8

More information

annual report & accounts

annual report & accounts 2 0 annual report & accounts 1 1 contents Contents Our Vision To be a dynamic company committed to exceeding customer expectation and increasing our market share through the provision of high quality products

More information

8-13 Chairman s Report 14-19 Managing Director s Report 20-21 Senior Management 33-34 Statement of Directors Responsibilities 41-42 Consolidated Statement of Changes in Equity 35-36 Report of the Independent

More information

THE KENYA POWER & LIGHTING COMPANY LIMITED STAFF RETIREMENT BENEFITS SCHEME 2013 ANNUAL REPORT

THE KENYA POWER & LIGHTING COMPANY LIMITED STAFF RETIREMENT BENEFITS SCHEME 2013 ANNUAL REPORT 2013 ANNUAL REPORT CONTENTS PAGE Trustees and Professional Advisors 4 About the Fund 6 Fund Highlights 8 Five Year Summary 8 Chairman s Report 11 Trust Secretary s Report 17 Board of Trustees 25 Management

More information

Kawaida Mpya Kukuhudumia popote ulipo. New Normal Serving you wherever you are

Kawaida Mpya Kukuhudumia popote ulipo. New Normal Serving you wherever you are Kawaida Mpya Kukuhudumia popote ulipo New Normal Serving you wherever you are 01 01 01 Yaliyomo 04 Azma Dira Misingi Yetu 06 Angalizo Kuhusu Taarifa Zitakazotazama Mbele 26 08 Wasifu wa Kampuni 20 10 Vielelezo

More information

THE OIL AND GAS REVENUES MANAGEMENT ACT, 2015 ARRANGEMENT OF SECTIONS PART I PRELIMINARY PROVISIONS PART II ADMINISTRATIVE PROVISIONS

THE OIL AND GAS REVENUES MANAGEMENT ACT, 2015 ARRANGEMENT OF SECTIONS PART I PRELIMINARY PROVISIONS PART II ADMINISTRATIVE PROVISIONS ISSN 0856-035X THE UNITED REPUBLIC OF TANZANIA BILL SUPPLEMENT No. 10 29 th May, 2015 to the Gazette of the United Republic of Tanzania No. 22 Vol. 96 dated 29 th May, 2015 Printed by the Government Printer,

More information

ANNUAL REPORT AND FINANCIAL STATEMENTS

ANNUAL REPORT AND FINANCIAL STATEMENTS ANNUAL REPORT AND FINANCIAL STATEMENTS OUR VISION To be the Media of Africa for Africa OUR To create value for our stakeholders and to positively influence society by providing media that informs, educates

More information

BUILDING INTO THE FUTURE Tanzania Portland Cement Company Limited Annual Report 2011

BUILDING INTO THE FUTURE Tanzania Portland Cement Company Limited Annual Report 2011 BUILDING INTO THE FUTURE Tanzania Portland Cement Company Limited Annual Report 2011 FINANCIAL HIGHLIGHTS 2007-2011 2007 TZS 000 2008 TZS 000 2009 TZS 000 2010 TZS 000 2011 TZS 000 Number of employees

More information

ANNUAL CENTUM INVESTMENT COMPANY PLC ABRIDGED ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2018 REPORT

ANNUAL CENTUM INVESTMENT COMPANY PLC ABRIDGED ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2018 REPORT ANNUAL CENTUM INVESTMENT COMPANY PLC ABRIDGED ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2018 REPORT 2018 TANGIBLE PROGRESS 04 NOTICE OF THE 51ST ANNUAL GENERAL MEETING 06 NOTISI JUU YA

More information

CARBACID INVESTMENTS LIMITED REPORT AND FINANCIAL STATEMENTS 2013 CO2

CARBACID INVESTMENTS LIMITED REPORT AND FINANCIAL STATEMENTS 2013 CO2 CARBACID INVESTMENTS LIMITED REPORT AND FINANCIAL STATEMENTS 2013 CO2 contents PAGES Corporate information 2 Board of directors 3 Notice of meeting 4-6 Chairman s statement 7-8 Taarifa ya mwenyekiti 9-10

More information

Tanzania Breweries Limited Press Announcement

Tanzania Breweries Limited Press Announcement Tanzania Breweries Limited Press Announcement Headline Results Tanzania Breweries Limited today announces its results for the six month period ended 30 th September 2013. Highlights are as follows: 2013

More information

Annual Report. and. Financial Statements

Annual Report. and. Financial Statements ANNUAL REPORT AND FINANCIAL STATEMENTS 2014 Annual Report and Financial Statements for the Year Ended 30th June, 2014 KENYA LITERATURE BUREAU PUBLISHERS AND PRINTERS Popo Road, Belle-Vue Area, Off Mombasa

More information

CONTENTS. Directors, Officers and Administration 2. Board of Directors 4. Notice of Annual General Meeting 6. Chairman s Statement 10

CONTENTS. Directors, Officers and Administration 2. Board of Directors 4. Notice of Annual General Meeting 6. Chairman s Statement 10 REPORT AND FINANCIAL STATEMENTS AT 31 DECEMBER 2015 CONTENTS Directors, Officers and Administration 2 Board of Directors 4 Notice of Annual General Meeting 6 Chairman s Statement 10 Group Managing Director

More information

UMOJA BRIDGE (UNITY BRIDGE) - MTWARA The Umoja Bridge is a 720 meter long structure that connects Tanzania and Mozambique across the Ruvuma river.

UMOJA BRIDGE (UNITY BRIDGE) - MTWARA The Umoja Bridge is a 720 meter long structure that connects Tanzania and Mozambique across the Ruvuma river. UMOJA BRIDGE (UNITY BRIDGE) - MTWARA The Umoja Bridge is a 720 meter long structure that connects Tanzania and Mozambique across the Ruvuma river. It was inaugurated on 15 May 2010 by the presidents of

More information

THE UNITED REPUBLIC OF TANZANIA

THE UNITED REPUBLIC OF TANZANIA THE UNITED REPUBLIC OF TANZANIA STATEMENT OF REALLOCATION REALLOCATION WARRANT NO.1 OF 2010/2011 VIREMENT BETWEEN VOTES STATEMENT OF REALLOCATION REALLOCATION WARRANT NO.1 OF 2010/2011 SCHEDULE VIREMENT

More information

VISION AND MISSION STATEMENT

VISION AND MISSION STATEMENT VISION AND MISSION STATEMENT OUR VISION To be the preferred Bank in the provision of comprehensive financial solutions in the region. OUR MISSION At National Bank, we are dedicated to excellence in providing

More information

THE UNITED REPUBLIC OF TANZANIA

THE UNITED REPUBLIC OF TANZANIA THE UNITED REPUBLIC OF TANZANIA ISSN 0856-034X BILL SUPPLEMENT No.5 8 th June, 2018 to the Gazette of the United Republic of Tanzania No.23. Vol.99 dated 8 th June, 2018 Printed by the Government Printer,

More information

SAFARI LODGES AND CAMPS HOTELS RESORTS ANNUAL REPORT & FINANCIAL STATEMENTS

SAFARI LODGES AND CAMPS HOTELS RESORTS ANNUAL REPORT & FINANCIAL STATEMENTS SAFARI LODGES AND CAMPS HOTELS RESORTS ANNUAL REPORT & FINANCIAL STATEMENTS Content Page Directors and Administration 2-3 Operating Subsidiaries and Properties 4 Other Corporate Information 5 Notice of

More information

SAFARI LODGES AND CAMPS HOTELS RESORTS

SAFARI LODGES AND CAMPS HOTELS RESORTS SAFARI LODGES AND CAMPS HOTELS RESORTS ANNUAL REPORT & FINANCIAL STATEMENTS Content Page Directors and Administration 2-3 Operating Subsidiaries and Properties 4 Other Corporate Information 5 Notice of

More information

2016 Annual Report & Financial Statements. Annual Report and Financial Statements

2016 Annual Report & Financial Statements. Annual Report and Financial Statements 2016 Annual Report and Financial Statements 1 Contents Notice of the Annual General Meeting... 5 Board of Directors... 7 Management Team...10 Directors, Offices and Statutory Information...12 Report of

More information

2013 ANNUAL REPORT AND FINANCIAL STATEMENTS

2013 ANNUAL REPORT AND FINANCIAL STATEMENTS ANNUAL REPORT AND FINANCIAL STATEMENTS DEVELOPMENT GROWTH INNOVATION Annual Report and Financial Statements for the year ended 31 December Vision To be the ultimate provider of innovative and reliable

More information

MONETARY POLICY MANAGEMENT

MONETARY POLICY MANAGEMENT TABLE OF CONTENTS LETTER OF TRANSMITTAL... ii PREFACE... iii UTANGULIZI... v BOARD OF DIRECTORS... viii SENIOR MANAGEMENT... ix MEMBERS OF THE MONETARY POLICY COMMITTEE... xi BANK REORGANISATION... xii

More information

TWENTY TWELVE annual report& financial statements we re transforming. National Bank of Kenya Ltd 2012 annual report.

TWENTY TWELVE annual report& financial statements we re transforming. National Bank of Kenya Ltd 2012 annual report. TWENTY TWELVE 2 0 1 2 annual report& financial statements we re transforming www.nationalbank.co.ke Vision and Mission Statement OUR VISION To be the Bank of Choice in the provision of Financial Solutions

More information

KENYA POWER ANNUAL REPORT AND FINANCIAL STATEMENTS FINANCIAL YEAR ENDED 30 JUNE

KENYA POWER ANNUAL REPORT AND FINANCIAL STATEMENTS FINANCIAL YEAR ENDED 30 JUNE KENYA POWER ANNUAL REPORT AND FINANCIAL STATEMENTS FINANCIAL YEAR ENDED 30 JUNE 2012 ANNUAL REPORT AND FINANCIAL STATEMENTS 2011/12 THE KENYA POWER & LIGHTING COMPANY LIMITED 1 2 THE KENYA POWER & LIGHTING

More information

The Kenya Power & Lighting Co. Ltd.

The Kenya Power & Lighting Co. Ltd. The Kenya Power & Lighting Co. Ltd. Our Vision To achieve world class status as a quality service business enterprise so as to be the first choice supplier of electrical energy in a competitive environment.

More information

CRDB BANK PLC. Taarifa ya Mwaka. Annual Report

CRDB BANK PLC. Taarifa ya Mwaka. Annual Report CRDB BANK PLC Yaliyomo Content 01 Angalizo Kuhusu Taarifa Zitakazotazama Mbele 02 Taarifa za Kampuni 03 Wasifu wa Kampuni 04 Vielelezo vya Kifedha 07 Taarifa ya Ziada 08 Taarifa ya Mwenyekiti 18 Taarifa

More information

ISO 9001: 2015 Certified

ISO 9001: 2015 Certified ISO 9001: 2015 Certified TABLE OF CONTENTS Corporate Information 1 Members of The Board of Trustees 3 Senior Management Team 5 Chairman's Statement 6 Taarifa ya Mwenyekiti 7 Report of the Managing Trustee

More information

Bank on better. National Bank. Integrated Report & Financial Statements

Bank on better. National Bank. Integrated Report & Financial Statements Bank on better National Bank Integrated Report & Financial Statements 2016 Bank on better Jijenge Na National Bank Borrow from as little as Kshs. 5,000/- to Kshs. 5 Million to grow your business. Free

More information

2015 Annual Report and Financial Statements. Bank on better

2015 Annual Report and Financial Statements. Bank on better 2015 Annual Report and Financial Statements Bank on better Introduction Our History National Bank was incorporated on 19th June 1968. At the time it was fully owned by the Government. The objective for

More information

Tanzania Breweries Limited Press Announcement

Tanzania Breweries Limited Press Announcement Tanzania Breweries Limited Press Announcement Headline Results Tanzania Breweries Limited today announces its results for the six months ended 30 September 2016. Highlights are as follows: 2016 2015 TShs

More information

KENYA RE FINANCIAL YEAR ENDED 31 DECEMBER 2016

KENYA RE FINANCIAL YEAR ENDED 31 DECEMBER 2016 1 2 KENYA RE FINANCIAL YEAR ENDED 31 DECEMBER 2016 Page Group Information 4-15 Notice of the 2017 AGM 6-7 Chairman s Overview 12-15 Report of the Directors 16-17 Managing Director s Statement 18-25 Statement

More information

Freequently Asked Question Maswali na Majibu

Freequently Asked Question Maswali na Majibu www.amanabank.co.tz Freequently sked Question Maswali na Majibu mana Bank Operations Q1 Why does your bank have many branches in Dar es Salaam? Dar es Salaam is a business city with high population compared

More information

INTEGRATED ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE Part of everyday life

INTEGRATED ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE Part of everyday life INTEGRATED ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2016 Part of everyday life Our Value Statements Vision To be the market leader in the provision of reliable, safe, quality and

More information

Contents BUSINESS & PERFORMANCE HIGHLIGHTS

Contents BUSINESS & PERFORMANCE HIGHLIGHTS BUSINESS & PERFORMANCE HIGHLIGHTS 6,000 PROFIT BEFORE TAX* 5,633 Profit (KShs Million) 4,000 2,000 2,498 2,648 2,738 4,782 2006 2007 2008 2009 2010 0 Contents SALES BY REGIONS, EXPORTS AND REP Business

More information

TABLE OF CONTENTS BUSINESS REVIEW CORPORATE GOVERNANCE FINANCIAL STATEMENTS OTHER INFORMATION

TABLE OF CONTENTS BUSINESS REVIEW CORPORATE GOVERNANCE FINANCIAL STATEMENTS OTHER INFORMATION TABLE OF CONTENTS BUSINESS REVIEW 2 Who we are 7 Five year Financial Review 8 Delivering on our Strategic Objectives 12 Chairman s Statement 18 Taarifa ya Mwenyekiti CORPORATE GOVERNANCE 24 The Board of

More information

2012 Annual Report & Financial Statements

2012 Annual Report & Financial Statements 2012 Annual Report & Financial Statements OUR CORPORATE VISION To be the reinsurer of choice in our chosen markets OUR CORPORATE MISSION To provide quality reinsurance services to our clients in Africa,

More information

7. Swali: Kama sio mwalimu, ninaruhusiwa kufungua akaunti katika benki ya MCB?

7. Swali: Kama sio mwalimu, ninaruhusiwa kufungua akaunti katika benki ya MCB? MASWALI YANAYOULIZWA MARA KWA MARA. 1. Swali: Ninawezaje kufungua akaunti binafsi ya benki? Jibu: Jaza fomu ya kufungulia akaunti ambapo utachagua akaunti binafsi. Fomu zinapatikana katika tawi letu lililopo

More information

Government registers success in financial reforms

Government registers success in financial reforms ISSN: 1821-6021 Vol VIII - No. 42 October 20, 2015 Free with Daily News every Tuesday? According to the public procurement law, any suspension or debarment of a tenderer shall not affect any existing contracts

More information

THE FINANCE ACT, 2017 ARRANGEMENT OF PARTS AMENDMENT OF THE EXCISE (MANAGEMENT AND TARIFF) ACT, (CAP.147)

THE FINANCE ACT, 2017 ARRANGEMENT OF PARTS AMENDMENT OF THE EXCISE (MANAGEMENT AND TARIFF) ACT, (CAP.147) THE UNITED REPUBLIC OF TANZANIA BILL SUPPLEMENT No.3 2 nd June, 2017 to the Gazette of the United Republic of Tanzania No.24. Vol.91 dated 2 nd June, 2017 Printed by the Government Printer, Dar es Salaam

More information

2012/2013 Annual Report and Financial Statements

2012/2013 Annual Report and Financial Statements 2012/2013 Annual Report and Financial Statements Cable protection cover tiles laid, awaiting completion of backfilling for the 220kV underground cable to Embakasi Substation, part of lot 3- Mombasa- Nairobi

More information

EABL F14 Full Year Results Media Briefing. 7 th August 2014

EABL F14 Full Year Results Media Briefing. 7 th August 2014 EABL F14 Full Year Results Media Briefing 7 th August 2014 Outline of the Full Year Results Briefing F14 Full Year Review Charles Ireland Financial Performance Tracey Barnes Summary and Outlook Charles

More information

front cover.pdf 1 4/3/14 5:38 PM

front cover.pdf 1 4/3/14 5:38 PM front cover.pdf 1 4/3/14 5:38 PM 1 Our Vision Enabling people to advance with confidence and success. Our Mission To make our customers prosper, our staff excel and create value for our stakeholders. Our

More information

ANNUAL REPORT & FINANCIAL STATEMENTS

ANNUAL REPORT & FINANCIAL STATEMENTS 2015 ANNUAL REPORT & FINANCIAL STATEMENTS Achieve More i VISION Enabling people to advance with confidence and success. MISSION To make our customers prosper, our staff excel and create value for our

More information

REPUBLIC OF KENYA COUNTY ASSEMBLY OF KILIFI THE HANSARD. Wednesday, 29 th June, (The Deputy Speaker (Hon. Mwambire) in the Chair) PRAYERS

REPUBLIC OF KENYA COUNTY ASSEMBLY OF KILIFI THE HANSARD. Wednesday, 29 th June, (The Deputy Speaker (Hon. Mwambire) in the Chair) PRAYERS June 29, 2015 COUNTY ASSEMBLY DEBATES 1 REPUBLIC OF KENYA COUNTY ASSEMBLY OF KILIFI THE HANSARD Wednesday, 29 th June, 2016 The House met at the County Assembly Chambers, Malindi Town, at 2.30 p.m. (The

More information

JUDGMENT OF THE COURT. This is an appeal against the decision of Mlay, J. in Civil Case No.

JUDGMENT OF THE COURT. This is an appeal against the decision of Mlay, J. in Civil Case No. IN THE COURT OF APPEAL OF TANZANIA AT DAR ES SALAAM (CORAM: MUNUO, J.A., RUTAKANGWA, J.A., And MJASIRI, J.A.) CIVIL APPEAL NO. 119 OF 2009 NAIMA IBRAHIM AS A TRUSTEE OF MAHAMUD ABDURASUL ISMAIL...APPELLANT

More information

EABL F12 Full Year Results Investor Briefing

EABL F12 Full Year Results Investor Briefing EABL F12 Full Year Results Investor Briefing Charles Muchene, Group Chairman Devlin Hainsworth, Group Managing Director Tracey Barnes, Group Finance Director 24 th August 2012 Outline of the Full Year

More information

IN THE HIGH COURT OF TANZANIA AT DAR ES SALAAM VERSUS AGRICULTURE INPUTS TRUST FUND STOCK

IN THE HIGH COURT OF TANZANIA AT DAR ES SALAAM VERSUS AGRICULTURE INPUTS TRUST FUND STOCK ~. IN THE HIGH COURT OF TANZANIA AT DAR ES SALAAM VERSUS AGRICULTURE INPUTS TRUST FUND STOCK BROKERAGE AGENCIES RESPONDENT Mlay, J. The Plaintiff entered into a loan agreement with, and executed a mortagage

More information

Our Mission. Our Values. Our Vision. To be Africa s foremost investment channel

Our Mission. Our Values. Our Vision. To be Africa s foremost investment channel Centum Investment Company Limited Annual Report and Financial Statements Year ended 31 March 2016 Our Vision To be Africa s foremost investment channel Our Mission To create real, tangible wealth by providing

More information

SEPTEMBER 29, 2015 COUNTY ASSEMBLY DEBATES 1 REPUBLIC OF KENYA COUNTY ASSEMBLY OF KILIFI THE HANSARD

SEPTEMBER 29, 2015 COUNTY ASSEMBLY DEBATES 1 REPUBLIC OF KENYA COUNTY ASSEMBLY OF KILIFI THE HANSARD SEPTEMBER 29, 2015 COUNTY ASSEMBLY DEBATES 1 REPUBLIC OF KENYA COUNTY ASSEMBLY OF KILIFI THE HANSARD Tuesday, 29 th September, 2015 The House met at the Temporary Chambers at the defunct Malindi Municipal

More information

SPECIAL BILL SUPPLEMENT

SPECIAL BILL SUPPLEMENT THE UNITED REPUBLIC OF TANZANIA ISSN 0856 01001X SPECIAL BILL SUPPLEMENT No. 5 10 th June, 2014 to the Gazette of the United Republic of Tanzania No. 24 Vol. 95 dated 13 th June, 2014 Printed by the Government

More information

REPUBLIC OF KENYA WEST POKOT COUNTY ASSEMBLY THE HANSARD. Monday, 25 th June, The County Assembly Members met at Kanyarkwat at 2.

REPUBLIC OF KENYA WEST POKOT COUNTY ASSEMBLY THE HANSARD. Monday, 25 th June, The County Assembly Members met at Kanyarkwat at 2. REPUBLIC OF KENYA WEST POKOT COUNTY ASSEMBLY THE HANSARD Monday, 25 th June, 2018 The County Assembly Members met at Kanyarkwat at 2.30 pm SECOND ASSEMBLY, SECOND SESSION BUNGE MASHINANI AT KANYARKWAT

More information

TOTAL KENYA LIMITED 2012 ANNUAL REPORT & FINANCIAL STATEMENTS

TOTAL KENYA LIMITED 2012 ANNUAL REPORT & FINANCIAL STATEMENTS TOTAL KENYA LIMITED 2012 ANNUAL REPORT & FINANCIAL STATEMENTS Total Kenya Limited Annual Report and Financial Statements 10 1 CONTENTS 01 Value Statements 02 Notice of the Annual General Meeting 03 Directors

More information

Appendices. 1. Letter of Introduction. 2. Letter of acceptance. 3. Project Implementation plan. 4. Information for Monitoring. 5. Evaluation Summaries

Appendices. 1. Letter of Introduction. 2. Letter of acceptance. 3. Project Implementation plan. 4. Information for Monitoring. 5. Evaluation Summaries Appendices 1. Letter of Introduction 2. Letter of acceptance 3. Project Implementation plan 4. Information for Monitoring 5. Evaluation Summaries 6. Questions to UWATU members 7. Questions to Stakeholders

More information

EABL 2019 East HALF-YEAR African breweries RESULTS ltd FULL YEAR results presentation

EABL 2019 East HALF-YEAR African breweries RESULTS ltd FULL YEAR results presentation EABL 2019 East HALF-YEAR African breweries RESULTS ltd FULL YEAR results presentation 1 HALF YEAR RESULTS BRIEFING F19 H1 Commercial Review Andrew Cowan F19 H1 Financial Performance Gyuri Geiszl F19 H2

More information

Kilimanjaro Porters Assistance Project Monitoring Report Porter Surveys 2010

Kilimanjaro Porters Assistance Project Monitoring Report Porter Surveys 2010 Kilimanjaro Porters Assistance Project Monitoring Report Porter Surveys 2010 Prepared by: Philip Ndekirwa David Mtuy Jenifer Bernard Karen Valenti Robert Forrest August 2011 BACKGROUND Since 2003 the Kilimanjaro

More information

SABMiller plc. Consumer analyst group of Europe - CAGE. London 29 March 2011

SABMiller plc. Consumer analyst group of Europe - CAGE. London 29 March 2011 SABMiller plc Consumer analyst group of Europe - CAGE London 29 March 2011 Forward looking statements This presentation includes forward-looking statements with respect to certain of SABMiller plc s plans,

More information

INVESTOR PRESENTATION

INVESTOR PRESENTATION NATIONAL MICROFINANCE BANK PLC INVESTOR PRESENTATION On the occasion of the AGM of NMB To be held on 28 May 2011 By Mark Wiessing Chief Executive Officer 1 Recent History of the Business History: Created

More information

COUNTY ASSEMBLY OF KILIFI

COUNTY ASSEMBLY OF KILIFI June 26, 2014 COUNTY ASSEMBLY DEBATES 1 COUNTY ASSEMBLY OF KILIFI THE HANSARD Thursday, 26 th June, 2014 The House met at the County Assembly Chambers, Malindi Town, 2.30 p.m. [The Temporary Speaker (Hon.

More information

INTEGRATED REPORT AND FINANCIAL STATEMENTS

INTEGRATED REPORT AND FINANCIAL STATEMENTS INTEGRATED REPORT AND FINANCIAL STATEMENTS 2017 REGIONAL BRANCH NETWORK NAIROBI 1. Buru Buru Branch, off Mumias Road 2. Capital Centre Branch, Mombasa Road 3. Courtyard Branch, along General Mathenge Drive

More information

SABMiller plc. F 12 first half results US call Six months ended September 30, November 17, 2011

SABMiller plc. F 12 first half results US call Six months ended September 30, November 17, 2011 SABMiller plc F 12 first half results US call Six months ended September 30, 2011 November 17, 2011 Jamie Wilson, Chief Financial Officer Gary Leibowitz, Senior Vice President, IR Forward looking statements

More information

Agriculture Marketing Cooperative Societies. Bukoba Water Supply and Sanitation Authority. Cooperative Rural Development Bank

Agriculture Marketing Cooperative Societies. Bukoba Water Supply and Sanitation Authority. Cooperative Rural Development Bank ACRONYMS: AMCOS BRN BUWASA CBG CBOs CCM CRDB CUF DADG DADPS ELCT HBC HBS HIPC KADETFU KCU KFCB LGTP MKUKUTA MTEF NGOs NHIF NMB NPES NSGRP PEDP PRSP RWSSP Agriculture Marketing Cooperative Societies Big

More information

Agriculture Marketing Cooperative Societies. Bukoba Water Supply and Sanitation Authority. Cooperative Rural Development Bank

Agriculture Marketing Cooperative Societies. Bukoba Water Supply and Sanitation Authority. Cooperative Rural Development Bank ACRONYMS: AMCOS BRN BUWASA CBG CBOs CCM CRDB CUF DADG DADPS ELCT HBC HBS HIPC KADETFU KCU KFCB LGTP MKUKUTA MTEF NGOs NHIF NMB NPES NSGRP PEDP PRSP RWSSP Agriculture Marketing Cooperative Societies Big

More information

Minister for Energy Dr. Medard Kalemani. allocated TZS 700 billion in the 2018/19

Minister for Energy Dr. Medard Kalemani. allocated TZS 700 billion in the 2018/19 ISSN: 1821-6021 Vol XI - No - 22 DID YOU KNOW? The procurement? law provides exclusive preference?erence to women, youth,?uth, the elderly and persons with physical disability 14 Number of days within

More information

Centum Investment Company Limited Annual Report & Financial Statements fy 12/13

Centum Investment Company Limited Annual Report & Financial Statements fy 12/13 Annual Report & Financial Statements fy 12/13 We are an investment channel Providing investors with access to a portfolio of inaccessible quality and diversified investments The partner of choice... OUR

More information

SABMiller plc US annual results presentation Year ended March 31, 2014

SABMiller plc US annual results presentation Year ended March 31, 2014 SABMiller plc US annual results presentation Year ended March 31, 2014 Presented by Jamie Wilson, Chief Financial Officer Gary Leibowitz, SVP Internal & Investor Engagement Forward looking statements This

More information

ECONOMIC AND SOCIAL RESEARCH FOUNDATION (ESRF)

ECONOMIC AND SOCIAL RESEARCH FOUNDATION (ESRF) ECONOMIC AND SOCIAL RESEARCH FOUNDATION (ESRF) Policy Dialogue Seminar on POST BUDGET (2007/08) DISCUSSION FORUM A QUICK REVIEW OF THE IMPLICATIONS OF THE 2007/08 GOVERNMENT BUDGET ON TRANSPORT INFRASTRUCTURE

More information

March 2011 Annual Report & Financial Statements

March 2011 Annual Report & Financial Statements March 2011 Annual Report & Financial Statements MANAGEMENT TEAM Top Left - Mainza Madubansi (Regional Manager - North), Fanie Olivier (Technical Manager), Probby Mwela (IT Manager), Guntila Muleya (Marketing

More information

I have four years experience working with non-profit making organization and developed some useful experience and skills in the following areas.

I have four years experience working with non-profit making organization and developed some useful experience and skills in the following areas. APPENDIX 1. Letter of Introduction Tibuhinda Audax M P.O. Box 1884 Dar es salaam Tel 0744-533963 Email:- tibuhinda @yahoo.com 18 th September 2003 Project Director Tumaini Trust Fund P.O. Box 71029 Dar

More information

ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2015

ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2015 ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2015 These annual financial statements were compiled by the Company s appointed manager, Remgro Management Services Ltd, under the supervision of

More information