sedmoi kontinent ( russian : седьмой континент ; in english : seventh continent ) mcx : scon is a major grocery retail chain operating 140 stores in russia and one in belarus .

it is headquartered in moscow .

the platform for seventh continent was from the firm slavyanka founded in 1992 by aleksander mamut , vladimir gruzdev and grigory berezkin .

seventh continent was founded in 1994 , sedmoi kontinent was the first new russian food retailer since the dissolution of the soviet union .

in the early 2000s , the company launched a major expansion program and saw its revenue increasing from $ 105 million in 2000 to $ 1.27 billion in 2007 .

sedmoi kontinent

sedmoi kontinent currently operates 88 stores in russia and plans to open two more in 2006 .
gruzdev attending a meeting in september . he and zanadvorov founded grocery chain sedmoi kontinent in 1994 .
russian retail chains sedmoi kontinent , kopeika and samokhval have stopped selling estonian goods , the companies ' press services told interfax .
sedmoi kontinent , which will retain all rights to the chain ' s trademarks , will be sold for a symbolic sum . all real estate belonging to sedmoi kontinent will be spun off into separate companies that will remain in zanadvorov ' s hands , and it is here that the money will be made .
sedmoi kontinent reported revenues of just under 63 billion rubles ( $ 2 billion ) and net profit of more than 3 billion rubles in 2012 under russian accounting standards .
a source close to the foundation confirmed that once the deal , which is valued at $ 400 million , is complete , zanadvorov will control about 96 percent of sedmoi kontinent .
this report extracts all available information about sedmoi kontinent oao from emis ' database of company information . the table of contents on the right indicates the categories of information that will be included in your report upon purchase .
alexander zanadvorov , the owner of upper tier supermarket chain sedmoi kontinent , is preparing to sell the chain ' s managing company along with the rights to rent 130 of its 160 stores for a 15 - year period .
state duma deputy vladimir gruzdev ' s family foundation will sell its share of food retailer sedmoi kontinent to entrepreneur alexander zanadvorov , booking a profit on the investment and freeing up funds to build affordable housing in the moscow region .
gruzdev , who along with zanadvorov founded sedmoi kontinent in 1994 , already left the retailer as a shareholder once . in 2007 , zanadvorov agreed to buy out gruzdev ' s share in their controlling stake for $ 1 billion .
sedmoi kontinent ' s position in relation to the events in estonia is clear : we are against the removal of the soviet monument in tallinn and believe such actions are unacceptable ,
sedmoi kontinent said .
as a result of this , a decision was made to review the assortment of the chain . all estonian - produced goods will be taken out of the assortment of our stores in the next two days ,
the company said .
nor is the already depressed retail sector likely to thank mr putin . one of perekrestok ' s main rivals , the sedmoi kontinent chain , went into technical default on tuesday after bondholders refused to restructure the company ' s debt .
oleg lebedinets , a spokesman for vtb capital , could only confirm that the bank works with the retailer
in a broad range of areas .
a spokesman for sedmoi kontinent said they do not comment on the business of their shareholders .
to finance the transaction , he took a $ 560 million loan from deutsche bank . but the crisis came in fall 2008 , and zanadvorov , trying to avoid a margin call on the loan , actively traded sedmoi kontinent shares on the open market .
the sedmoi kontinent brand name will most likely be dropped by x5 , vtb ' s ivan kushch said , as the larger group already has its own multiple brand names , and the integration of a new one will only create difficulties for the company .
passport magazine october 2006 text and photos by charles w . borden two months have passed since russia’s wine crisis began , and supermarket sedmoi kontinent still has only a handful of wines . the bureaucrats have crippled russia’s wine industry and it is difficult to . . .
gruzdev ' s foundation began providing funds for zanadvorov to buy up sedmoi shares from the market to support their price , which zanadvorov later began transferring to the foundation . by the end of 2008 , the foundation had received 10 percent and by may 2010 about 19 percent , a source at the foundation said earlier . the remaining shares were purchased on the market , said an employee of sedmoi kontinent .
vedomosti learned about the plans from a source close to the foundation and an acquaintance of zanadvorov . foundation manager natalya chernyak confirmed that in the beginning of october they signed a contract to sell their 21 . 3 percent stake in sedmoi kontinent to zanadvorov ' s company bashnya 2000 .
since early october , the volume of trading of sedmoi kontinent shares has increased several times over . in the first 11 days of october , ibragimov said , micex traded 1 . 2 percent of the total number of shares of the company , or a third of its free float .
the deal has allowed sedmoi kontinent to acquire 12 altyn stores in total with an overall floor space of 29 , 500 square meters . the company also plans to open two new shopping malls called ' nash gipermarket ' ( our hypermarket ) , which by 2007 will have a floor space of 40 , 000 square meters each .
the company expects to increase its share of the region ' s retail market to between 35 % and 40 % approximately . sedmoi kontinent ' s sales revenue in the russian western - most exclave region was expected to amount to almost $ 80 million to $ 100 million ( us ) this year , while altyn stores sales revenue was expected to amount to nearly $ 65 million .
the market value of the 21 . 3 percent package is $ 156 million , based on the share price of $ 9 . 79 on oct . 11 . since early october , sedmoi kontinent shares have increased in value by almost 24 percent , said marat ibragimov , a senior analyst at otkritie . but the company ' s market capitalization is still $ 720 million , meaning that a $ 400 million valuation for the stake is too high .
the foundation will not disclose how much it spent buying up sedmoi shares , but based on market prices over the period the stake could have cost 2 . 4 billion rubles to 10 billion rubles ( $ 80 million to $ 332 million ) .
sedmoi kontinent occupies the middle of the range – it’s got an okay range of products , but it seems to be sliding more towards the domestic range of foodstuffs , which may be a deliberate reaction to current economic conditions , or may just be that thing that happens in russia where everything goes downhill after the “khoziyan” or master stops dealing with the day - to - day running of the shop . the flagship shop on smolenskaya is well stocked , the produce is fresh , and the range of fresh meat is impressive than some of their smaller retail locations . i find the staff very surly . i give it a c + .
the market rate for renting 1 square meter of retail space could be from $ 350 to $ 600 per year , said svetlana yarovaya of jones lang lasalle . multiplied by the 450 thousand square meters owned by sedmoi continent , this suggests yearly revenues of from $ 157 million to $ 270 million per year , and between $ 2 . 4 billion and $ 4 . 05 billion over the 15 - year period of the agreement .
until recently many food shops , department stores and state - run souvenir ( berezhka ) shops used the kassa system of payment . this involved visiting several cashier’s desks and could be confusing for the uninitiated . nowadays , the kassa system is pretty rare in moscow and there are hundreds of western - type shops of all sizes . throughout the city there are several chain stores , for example , sedmoi kontinent , kopeika , perekrestok and ramstor . the latter offers a huge range of products from food to clothes . there are also a few hypermarkets . the only legal currency in russia is the rouble and most shops will not accept other currencies . vendors at the tourist markets may quote prices in us dollars . however , this will not guarantee a discount and visitors should bear in mind that it is illegal . now that the rampant inflation of the early 1990s is under control there should rarely be pressure to pay in hard currency . western - style supermarkets and shops , as well as some up - market russian boutiques , accept the main credit cards . some shops still display prices in us dollars or , very occasionally , in units that have a fixed rate of exchange with roubles . if so the price will be converted into roubles , at a higher than average exchange rate , before payment is made . paying by credit card avoids this as credit card slips are nearly always made out in us dollars . prices for most goods include 15 % vat . only staples such as locally produced milk and bread are exempt . there are a few duty - free shops in the centre of moscow and at sheremetevo 2 airport .
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that means he could even become the sole owner of the chain . by raising his holding above 95 percent , zanadvorov would be obligated to make a buyout proposal to the minority shareholders , said andrei lebedev , head of law firm krikunov & partners .
zanadvorov plans to get credit from vtb to complete the deal with the gruzdev foundation , a source said .
renaissance capital analyst natalya zagvozdina said $ 10 . 30 per share is a fair price , which would value the entire company at $ 772 . 5 million .
this is the price at which a minority shareholder could sell their securities on the open market ,
she said .
the remaining assets of the foundation include retailer fashion continent and 1 , 000 hectares of land along kaluzhskoye shosse , a source close to the foundation said . the plots , 7 to 10 kilometers from the moscow ring road , were purchased from senator vadim moshkovich ' s company masshtab .
a source told vedomosti that the foundation plans to take the proceeds from the sale and invest in a new project called garden city — construction of 3 million square meters of housing .
gruzdev declined to comment on the deal with zanadvorov but confirmed to vedomosti his intention to invest in the development project .
i believe in the country and believe that we need to build housing that is not only cheap , but also beautiful . therefore , the working title of our project is garden city .
zanadvorov could not be reached for comment .
samvel karapetyan ' s tashir group will be a partner on individual parts of the project , a source close to the foundation said . a tashir spokeswoman confirmed the group ' s participation , saying the foundation would supply the land and tashir would provide investment and construction capacity .
such a project might require investment based on a sale price of $ 1 , 000 per square meter , said artyom tsogoyev , a partner at the moscow central real estate exchange . demand for affordable housing both in moscow and in the region remains at a high enough level , said tatyana palchikova , deputy director of trust 1991 .
gruzdev declared income for 2009 of 936 . 7 million rubles , and his wife ' s at 692 . 5 million rubles . gruzdev told vedomosti that his family income derived from the sale of stocks and bonds and interest on deposits in russian banks . he is the second wealthiest member of parliament .
© copyright 1992 - 2018 . the moscow times . all rights reserved . электронное периодическое издание «the moscow times» зарегистрировано в федеральной службе по надзору за соблюдением законодательства в сфере массовых коммуникаций и охране культурного наследия 16 ноября 2015 г . свидетельство о регистрации эл № фс77 - 62667 . 16 +
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nash gipermarket , located in a residential area of moscow , targets low and middle income consumers . initially this type of store offered around 40 , 000 food and non food product lines , however the range has been reduced in newer stores to 25 , 000 - 35 , 000 items . around 50 % of the sales area caters for non - foods ( books , cds , electronics , clothing and household goods ) . the store includes a comprehensive fruit and vegetable department , a rotisserie and a bank offering financial services . the banner is still in its experimental phase and may be modified in the future .
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jsc «the seventh continent» was founded in 1994 and is an international retail chain and one of the leaders in the russian retail market . the stores of the chain offer their customers a wide range of goods and services of high quality , with a flexible price policy , always meeting the demands of the market and being high - tech retail sites . seventh continent is one of the first russian multi - format retail chains . operations in several formats allows us not only to continuously expand the scope of our activities , but also to improve the competitiveness of our stores , while broadening the range of our loyal customers , who have a variety of shopping preferences and income levels . stores of the company :
the seventh continent - five stars
,
the seventh continent - universam
,
the seventh continent - next door
,
the seventh continent - gastronomy
,
nash hypermarket
( our hypermarket ) ,
prostor
.
x5 boosts net profit 2 . 2 - fold to 5 . 4 bln rubles in q4
if you need regular and ongoing access to company information , you should consider a subscription to the full emis service .
emis company profiles are part of a larger information service where that combines company , industry and country data and analysis for over 125 emerging markets on a unique information platform .
( interfax news agency via thomson dialog newsedge ) kaliningrad . april 28 ( interfax ) - russia ' s economic development and trade minister german gref said he is certain economic relations between russia and estonia are headed for the worse .
undeniably , the worsening of political relations [ because of the dismantlement of a monument to soviet soldiers in tallinn ] and , consequently , economic relations between russia and estonia is obvious ,
gref said at a news briefing in kaliningrad on friday .
gref declined to say whether russia would impose economic sanctions or trade restrictions on estonia .
i am not in a position now to say in what form this might affect [ relations ] . but such things cannot pass without leaving traces ,
he said .
the situation surrounding the monument
looks not civilized enough ,
gref said .
history will put everything in its due place and will assign a place to the initiators of such campaigns as well ,
he said . leading russian retail chains stop selling estonian goods
group ofcompanies has decided to stop the purchase and sale of any goods from estonia and fully supports the federation council ' s proposal to cut off diplomatic relations with estonia because of the desecration of the soviet monument .
kopeika - moscow said it sent a letter to yevgeny klevakin , the moscow region ' s first deputy consumer market minister . the letter says that kopeika only sells one estonian - produced product at its stores - altet cheese .
due to the current political situation resulting from the removal of the soviet monument , kopeika - moscow expresses its indignation and will unilaterally stop selling and buying goods produced on the territory of estonia starting tomorrow ,
the letter says .
the magnit and dixy retail chains told interfax that they do not sell any estonian - produced goods . meat producers urge russian business to sever ties with estonian firms
he national meat association , which unites russia ' s leading meat importers , has urged the russian business community to suspend contacts with estonian firms to protest the dismantling of the liberator soldier monument .
on behalf of the national meat association , and our friends and colleagues , we express our profound indignation at this barbaric act ,
the organization said in a statement .
the association also urged all companies to respond to the estonian leadership ' s anti - russian moves by severing all business contacts with estonian firms and suspending estonian imports .
the organization ' s chief executive sergei yushin told interfax there are companies among its members which deal with estonia firms .
they have also backed the statement and are deciding what to do next ,
he said .
yushin said that supplies of livestock for slaughter - the main item of meat imports from estonia - amounted to 6 , 500 tonnes last year .
it is a serious figure for estonia ,
he said . rospotrebnadzor checking on quality of imports from estonia - onishchenko
gennady onishchenko , the head of russia ' s consumer rights watchdog rospotrebnadzor and chief sanitary official , said careful checks were being conducted into estonia ' s exports to russia .
we ' ve been examining the structure of imports from estonia carefully for the past two weeks to find out whether they comply with safety and quality standards ,
onishchenko told interfax on friday evening .
vladimir putin , the russian prime minister , has burnished his populist credentials by storming into a moscow supermarket and ordering staff to cut the price of their sausages .
in keeping with a new strategy of deflecting blame for the country ' s economic woes onto the standard - bearers of russian capitalism , mr putin excoriated supermarket executives for their greed as ordinary shoppers looked on in bewilderment .
the prime minister abruptly interrupted a meeting with senior retailers at the moscow white house , the seat of the russian government , to drag them on an impromptu visit to a nearby branch of the perekrestok supermarket chain .
striding angrily through the aisles with a retinue of glum executives in tow , mr putin came to a halt in the supermarket ' s cold meat section and gesticulated towards a packet of sausages priced at just under £5 .
rounding on yuri kobaladze , the chain ' s head of corporate relations , mr putin demanded :
why do your sausages cost 240 roubles ? is that normal ?
but these are high quality sausages ,
mr kobaladze replied , looking crestfallen .
with a look of relief crossing his face , the executive spotted some cheaper sausages .
but the prime minister was not to be deterred .
too expensive ,
he muttered , before conjuring up a price list from his pocket .
i can show you your mark up . look at this kind of sausage . you ' ve marked it up by 52 per cent .
the exchange was a classic example of the political theatre in which mr putin excels . it came just two days after an opinion poll revealed that the principal concern of 75 per cent of russians was high food prices .
with a host of cameramen and photographers there to capture the scene , the stunt was likely to ensure mr putin ' s reputation as a man of action , and thereby absolve him from carrying any blame for the worst economic crisis in russia for over a decade .
having primed his victim , mr putin moved in for the kill . consulting his crib sheet , he pointed towards a packet of pork fillets .
this is double the ( cost ) price ,
he said to mr kobaladze .
is this normal ?
is 120 per cent a high mark up ?
mr kobaladze responded timidly .
mr putin ' s visit came three weeks after his ritual humiliation of oleg deripaska , the kremlin ' s most faithful oligarch .
the prime minister upbraided the tycoon and then forced him to sign an agreement promising to pay £830 , 000 in outstanding wages at a factory in the industrial town of pikalyovo , which had seen the worst unrest since the economic crisis began .
with the kremlin fearful that the recession could turn russians against mr putin , the prime minister ' s actions in pikalyovo helped to demonstrate his concern over growing unemployment and salary arrears . similarly , his supermarket visit will show that the prime minister is trying to fight inflation , which has soared to 14 per cent .
such gestures , while popular , are unlikely to reverse the slump , analysts say . the world bank this week predicted that over six million russians will fall into poverty this year as the economy shrinks by eight per cent .
this russian wine country website focuses the area of russia that has been the primary focus of western winemakers since the end of the ussr due to the potential of its terroirs . it is the area that stretches alonmg the black sea coast from just south of gelendzhik to the taman peninsula along the south coast of the azov sea . the first modern winery of the region , chateau le grand vostock , was developed in 2003 by french wine professionals and builders with all french equipment . since then , about 20 modern wineries have opened . most have been “green - field” but a few soviet era wineries have successfully transformed to modern operations . in addition , there are 15 or so “garagistes” that are producing respectable wines , and certainly many of them will transform into larger operations in the coming years . russian wineries grow many white and red wines french varietal grapes such as cabernet sauvignon , merlot , chardonnay , aligote , muscat and sauvignon blanc , and indigenous georgian and russian varieties such as rkatsiteli , krasnostop , and saperavi . this website only features wineries that produce wines from russian grapes , either from their own vineyards or purchased from neighboring vineyards . even with this restriction , we are aware that some of the wineries listed also produce wines from imported “wine material” or concentrate . to the degree possible , we try to limit our information to authentic russian wines produced from grapes grown in russia .
georgia is considered to be the source of the world’s first domesticated grape vines . wine was produced in greek settlements along russia’s black sea coast over 2 , 500 years ago . in the late 19th century , there was a brief revival of the wine industry with the founding of several wineries including abrau dyurso in russia , and novy svet and massandra on the crimean peninsula .
after the russian revolution , wine production was industrialized and developed by state and collective enterprises . most of the republics of the ussr produced some wine , however the largest producers were moldova , ukraine , georgia , and russia . russia’s wine grape growing areas developed in the krasnodar , stavropol and rostov regions and the semi - autonomous republic of daghestan , all in southern russia between the caspian and black seas .
the former soviet union ( fsu ) was the fourth largest wine producer in the world in 1980 behind italy , france , and spain . it produced 4 . 8 billion liters of wine , over three times as much as the united states . however , by 1990 , wine production had declined to 1 . 6 billion liters , primarily due to ussr president gorbachev’s anti - alcohol campaign during which vineyards and production facilities were destroyed .
historically , russian consumer taste has favored sweet and sparkling wines . during the soviet era , strong or “fortified” wines became very popular carrying names such as portwine , madera , or sherry . sparkling wines are very popular in russia and are produced from “wine material , ” a technical term for grape juice that has been fermented either at russian wineries or imported from other countries . it is estimated that as much as or more than 80 % of wines labeled as russia wines are actually made from such imported wine material or from imported grape concentrate . for wineries outside of russia’s grape growing region , such as those in and around moscow , imported “wine material” is the principal base for sovietskiy shampagnskoye ( “soviet champagne” ) , which is ubiquitous at russian new year and women’s day parties .
however , modern russia has learned about and now enjoys wines from around the world . in recent years many have begun to understand that their own country has capabilities to produce excellent wines to rival many of the imports .
family wineries , known as “garagistes” that make respectably wines on a small scale .
many of the images in the russian wine country galleries have been contributed by igor ulko , who together with his wife olga , have for years provided beautiful images of russian wine country : its countryside , wineries , and the people who have developed fine russian wines . if you require any type of professional photography in the krasnodar region , please contact igor and olga . contact : + 7 988 33 67 477 urltoken
yanus karakazidi and his son konstantin will present the wines of his karakazidi winemaking house this week at palati cafe near pavaletskaya station in moscow . karakazidi winemaking house is a small winery that yanus and kostya have built themselves over many years in . . .
just released : a comprehensive primer about russian wine country , which stretches along russia ' s northern black sea coast from the gelendzhik coastal resort area , about 250 kilometers northwest of sochi , to the taman peninsula between the black and azov seas . in the . . .
i caught the aeroexpress train from paveletskaya to domodedovo to catch a s7 flight on tuesday afternoon . aeroexpress takes from 40 to 50 minutes , with a round trip ticket cost of 620 rubles . the entrance at paveletskaya is a little seedy , as might be . . .
nine wineries in three days , and a dinner with a representative of a tenth – that ' s how the schedule stacked up for me and john ortega , on an early spring excursion through russian wine country . i wanted to return to the countryside where i spent my first . . .
the russian black sea resort city of anapa is the gateway to a russia’s rapidly developing wine region , an area that is capable of producing wines to rival the world’s great regions . the potential for production of quality red and white wines is unsurpassed in the countries of the former soviet union . anapa is a well - known russian family resort with sand beaches and comfortable accommodations . take a weekend or weeklong vacation to anapa and see this wine country first hand . there are numerous daily direct flights of about two hours to anapa from all of moscow’s major airports . late spring before the summer crowds arrive , and september and october after they leave are the best time to visit . in september , the hotels that line anapa’s golden sand beaches have emptied and prices are low . there are many full service health resorts around anapa ( called sanatoria ) and hotels that have first class rooms . the top hotels in the city are the valentina and park hotel . for more information about tours and visits , russianwinecountry is partnering with the leading local information source , urltoken .
when charles borden first visited russian wine country in september 1992 just after the demise of the ussr , he became the first western investor to take an interest in the potential for wine in the region . he has continued his interest and traveled to the region for the past 25 years . in 2014 , after writing many articles about the wines and wineries of the region , he published russian wine country : sleeping beauty awakens , which is available on amazon . from 1992 to 2000 , mr . borden worked with two wineries of the former soviet union , and became the first to bring modern packaging to wineries in southern russia that had little or no bottling facilities . he was responsible for two joint ventures to package some of russia’s best wines using the modern bag - in - box system , which has now been adopted by many russian wineries . mr . borden is currently it manager for olma fund , a paris private equity fund with investments in france and russia that includes domaine chanzy , a 100 hectare burgundy wine producer , and chateau signac , a winery with 38 hectares in côtes du rhône . he is also director and editor for financeplus , a paris - based information service that publishes information about mid - market mergers and acquisitions , and venture capital and private equity investments for markets worldwide ( www . financeplus . com ) . charles was previously contributing editor and wine and dine reviewer for moscow’s passport magazine for eight years , and was previously editor of the english version of the aeroflot inflight magazine , russian fine art , and russians : yesterday , today , tomorrow . from 2003 to 2010 , he contributed to the annual edition of hugh johnson’s pocket wine book , one of the world’s most important wine books , which is also published in russian language . charles is moscow’s “consummate wine buyer” – a consumer’s friend and expert in the intricacies and complications that a shopper faces when buying a wine at a restaurant or shop in russia .
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from the alphabet of taste to the 7th continent : a guide to moscow’s supermarkets .
in the past twenty years , moscow has enjoyed an unprecedented retail boom . a city that was once a culinary wasteland , today boasts hundreds of supermarkets , grocery stores , and corner shops . below is an overview of the most popular chain stores , which we endeavor to keep updated and fresh . please use the comment section to share your own impressions , new finds , or an experience you’ve had at moscow supermarkets !
azbukha vkusa ( which means the alphabet of taste ) is a chain of upscale grocery stores in moscow , easily recognizable by their bright green branding . there are 40 some stores scattered about the capital , and most provide dedicated parking .
azbukha offers a full range of dry and baking goods , with an emphasis on higher end imports or hard - to - find items . this is where you want to go if you are looking for wheat pasta , or arborio rice . the cheese and dairy selection is particularly good , and the sales staff knows what they are talking about . azbukha offers fresh meat , fish , and poultry as well as excellent fresh produce . in recent years , the chain has begun to offer ready - made boxed meals along the lines of marks & spenser’s successful range in the uk .
i steer away from the wines and spirits section of the store for two reasons : they breathe down your neck like you are going to steal a bottle vouvray or something , and also because the prices are outrageous and the selection isn’t that great .
azbukha vkusa is one of the few places where they bag your groceries for you , which is a nice touch .
none of this comes cheap . azbukha is on the higher end of the scale in terms of prices , even for domestic products . i try to shop at azbukha vkusa when i need a few items i know i won’t be able to find anywhere else to keep the cost down , but i confess i never enter their green doors without feeling a little frisson of excitement !
for an up - to - date list of azbukha vkusa’s growing number of retail locations , or to find a shop close to you , click here .
i think of eliseevsky more as a tourist stop rather than a shop , but that’s probably because i don’t live around the corner from it ! eliseevsky is a sumptuous store dating back to the pre - revolutionary times and more recently lovingly restored . for those who live within walking distance , the shop offers a great range of fresh food and produce , as well as good dried goods and an impressive deli section for semi prepared meats ( marinated shashkik , meat balls etc . ) as well as a full range of russian salads and desserts .
globus gourmet is arkady novikov’s homage to the harrod’s food halls . at least that is my take on it . mind bogglingly expensive , this is the place to go if you need a nepalese pink salt or a fresh fin de claire just off the plane . globus gourmet has exquisite meats , fishes , a wonderful bakery section and a selection of cheeses that doesn’t quit . they sell fortnum & mason tea , which is a good reason to go , as well as the fact that it is the only place in moscow that i can consistently get shallots . rumors abound that gg is going to merge somehow with azbukha vkusa , which is like a vanderbilt marrying a rockefeller . stay tuned for updates !
metro cash & carry is german in its design and concept and 100 % russian in its execution . these large warehouses ring moscow and are worth the trip if you are interested saving a lot of money , bulk buying , or after some high - quality meat and fish that doesn’t cost the earth .
metro takes planning . you have to be in possession of a metro card to get in the door and make purchases . people eligible for cards are legal entities , rep offices of russian or foreign companies , embassies or individual entrepreneurs ( by which is meant kiosk owners . ) if you don’t qualify , do not be deterred . someone you know has a metro card . borrow one . ask the hr people at work . i use my driver’s card and believe me , we don’t look at all alike .
metro is great for bulk buying things like toilet paper , dishwashing liquid , laundry detergent , aluminum foil , juice , tonic water , baking supplies , rice , and pasta . if your house has the storage space , this is definitely the way to go : you’ll save money and time . their meat section is a delight – you can score really fantastic lamb from new zealand beef from the usa . they stock good quality russian chicken and pork . the fish is good and fresh , though the people who staff the fish section are hard to flag down . you can get a very good range of affordable seafood including oysters , lobsters , smoked salmon , shrimp , caviar , and other bounty from the sea .
metro supplies a lot of restaurants , so if you are equipping your kitchen , or expanding your range of kitchen supplies , check out metro’s offerings . i had an epiphany a few years ago and threw away all my mismatched cheesy plastic containers , and replaced them with metro’s very affordable range of see - through hard plastic tubs with stainless steel tops . these come in all kinds of sizes , stack in the refrigerator and have made life much easier . metro has good stainless steel mixing bowls , canning supplies , bake ware , and serviceable stockpots . i don’t buy any appliances from metro since the one thing i did broke down almost immediately .
while the produce at metro can be lackluster , the fresh greens , lettuces , and herbs imported from israel are anything but . if you aren’t planning to hit the farmers’ market that week , metro is the mecca for salad fixings as well as hard - to - find items such as fresh sage and marjoram .
metro is a great place to stock up on hard liquor – the prices are competitive and most of the premium brands of vodka , gin , bourbon , whiskey , cognac , liqueurs , and tequila are consistently on offer . less reliable is the wine selection . you can hit a mother lode of cheap - and - cheerful new world wines in the 600 - 1000 ruble range , or you can be stuck with moldovan paint stripper or a $ 900 bottle of chablis and nothing in between . you never know – you have to go . and be sure to put your alcohol purchases on the belt separate from your non - alcoholic ones : these are considered different categories and are rung up separately .
metro is not for the faint of heart . it’s a marathon , not a sprint , so be sure to prepare for your visit accordingly . assume that this is all you will do that morning or afternoon , get a good night’s sleep , wear comfortable clothing , bring a bottle of water and be sure to watch out for overzealous forklift drivers !
these two may look alike , but only until you begin to trawl their aisles .
perekrestok with the blue branding is a mainstream supermarket for your average vanya . they have a reliable supply of basic kitchen staples , most of which are either russian or from the near abroad . if you need a loaf of bread and a tin of instant coffee – pop into perekrestok and you’ll leave happy . if you are looking for a fresh peach , a well - priced bottle of merlot , and a lovely rump roast , you’re out of luck . the produce section is dominated by depressing looking root vegetables and the fruit is not at all tempting . the meat section yields basic cuts , though the quality isn’t top notch . the staff is appallingly rude and you have to pay for the plastic bags that fall apart once you get out of the store . for a complete list of perekrestoks in moscow click here .
perekrestok zelyoni , on the other hand , is giving azbukha vkusa and globus gourmet a run for their money , and if i were a betting blogger , my chips would be on perekrestok zelyoni coming out the winner . since 2009 , these upscale sister shops to the ubiquitous perekrestocks have delighted shoppers with top quality fresh produce , premium meats , hard - to - find imports and an impressive selection of organic food . i stumbled in to the one at smolensky passazh and was really blown away . i found some excellent tarragon mustard , a very passable goat cheese , and clocked some key limes and a great range of bagged and washed lettuce ( the holy grail for moscow cooks ) . i wish my plain old neighborhood perekrestok would go green !
rublyovo - uspenskoye shosse . , d . 15 ( 15 km from the mkad at “univermag nash” )
thank you so much for this . we will be moving to moscow in the spring and this sort of useful and practical information for an expat new to the city is almost impossible to find .
love it ! thanks for sharing . i m very often in moscow and this is so usefull .
the cash & carry stores are excellent places to shop . i always went to one along the moscow river west of the white house [ i can find the road name if it is wanted ] . i had a finance ministry card [ in cyrillic , certainly ] though i never had to bother to show it from 2001 to 2004 ; cash & carry may be a bit pickier now . if you have a driver , mine always came with me – he liked to push the cart , he / she could probably get you in , but i don’t doubt that your resident card would be fine . there was a full complement of foodstuffs – good meat and cheese , plenty of vegetables – quite unusual ones too , in season . the flour , usually german , was good . i cannot recommend russian flour , which often harbours bugs . many brands of detergents and cleaning supplies , personal items such as deodorants and toothpastes were available . the litres of ultra - high - treated milks are excellent and skim milk and 35 % whipping cream are among the excellent varieties available . i very soon gave up on buying fresh milk at stockmann , often with a very short due date [ probably better now ] .
the reenoks [ produce markets or bazaars ] are where russians also go for good - quality produce . by asking around , one can discover which ones specialise ; for instance , there are those that specialised in caviar . i used to drive to leningradsky reenok where i bought caviar valued at slightly under $ 200 cad per kilo at a time when the canadian dollar was woefully below the value of u . s . currency , [ of course one must convert to roubles before making purchases ] . for that matter , the price of caviar has skyrocketed , but is still a bargain as compared with any i could buy in north america . i used to freeze what i didn’t need right away . some reenoks are open - air and are of limited value in cold seasons , but others , as with leningradsky reenok [ north , beyond tverskaya ulitsa on leningradsky prospect , are covered over and operate in winter as well . even corner stores – alive and well in moscow – have useful dry goods and some fresh produce to sell .
something to keep in mind : russian shoppers are wary of the origin of produce because they are aware of the radioactivity that can accompany fruits and vegetables , in particular , from areas of ukraine with soil contamination residue from chernobyl . my embassy sent warnings about arrivals of contaminated fruit – especially bush fruit – as they were discovered in moscow . more to the point , many russians carried pocket geiger counters with which to guard against dangerous goods , and my cleaner , an excellent young woman , told of occasions when the militsia [ police ] would come , unannounced , into food stores and geiger scan produce , forcing removal of the offending food and giving fines or some jail time to the guilty purveyor .
can anybody give the location of opne air fruit and veg market . i know there is one in arbat , but not sure exactly where ?
silvio , hi ! the biggest open air market is just over the bridge from arbat — dorogomilovsky . see this post for details on all of moscow’s farmer’s markets : urltoken and enjoy !
[ … ] pork : i still think the farmers’ markets are your best option and you can get the guys to cut and trim the meat for you . alternatively , look at a reliable supermarket such as metro , auchan , or perekrostok . [ … ]
just released : a comprehensive primer about russian wine country , which stretches along russia’s northern black sea coast from the gelendzhik coastal resort area , about 250 kilometers northwest of sochi , to the taman peninsula between the black and azov seas . in . . .
stavropol region wines passport magazine ( moscow ) march 2011 text and photos by charles borden the northern route of the silk road crossed stavropol region long before it joined russia’s frontier at the foot of the caucasus mountains . during the reign of catherine the . . .
passport magazine , december 2010 text by charles borden this time of year i often get asked about wines for a company party , for a unique gift to take home for the holidays , or a moscow new year’s present for the boss . here is my comprehensive 2011 moscow holiday wine . . .
passport magazine october 2009 text and photos by charles borden as you open this month’s passport , the grape harvest is closing in russia wine country , an area that stretches north and northeast of the black sea port of novorossisk to the azov sea , where about eighty . . .
passport magazine august 2008 text and photos charles w . borden recently passport’s knights of the vine gathered to gauge the progress of russian wineries . with a selection that included 28 bottles from the metro discount cash - and - carry chain and eight more from . . .
russia’s appetite for western goods means that moscow now offers most of the shopping facilities of a large , modern western city . there are supermarkets , department stores stocking imported goods and exclusive boutiques with french and italian designer clothes and shoes for the new rich . moscow’s most interesting shopping districts are located within the garden ring . the main department stores are clustered around the city centre near red square , while the best souvenir and antique shops can be found along ulitsa arbat , a charming old pedestrian street . for the more adventurous a trip to the weekend flea market at izmaylovo park is a must . here it is possible to buy everything from russian dolls and soviet memorabilia to handmade rugs from central asia and antique jewellery .
moscow’s shops and businesses rarely open before 10am and often not until 11am . most stay open until around 7pm . many shops , especially old , state - run stores , close for an hour at lunchtime , either from 1pm to 2pm , or from 2pm to 3pm . shops are usually open all day on saturdays , and nowadays many are also open on sundays , although often for shorter hours . markets generally operate from 10am to 4pm but it is necessary to go in the morning to get the best choice of goods .


mkombozi commercial bank plc. ( mkcb ) is a commercial bank in tanzania .

it is licensed by bank of tanzania , the central bank and national banking regulator .

mkombozi is a swahili word meaning savior .

mkombozi commercial bank

agl : mkombozi commercial bank lives and breathes innovation – it’s in our dna .
kazi services limited is recruiting on behalf of mkombozi commercial bank ( mkcb ) .
agl : mkombozi commercial bank is a bank with one of the fastest growing client base in the country .
agency banking manager company : mkombozi commercial bank plc position description mkombozi commercial bank plc established in 2009 as a fully - fledged commercial bank offers wide spectrum of banking services . the bank is now desirous of getting able and qualified individuals to fill the following post :
for mkombozi commercial bank plc , csr has been an inherited and inbuilt element of its culture from the day the bank was founded .
mkombozi commercial bank ( mkcb ) core business is provision of financial services to micro and macro customers in tanzania .
this branch code value means this is the primary office ( or head office ) for mkombozi commercial bank ltd .
position description mkombozi commercial bank plc established in 2009 as a fully - fledged commercial bank offers wide spectrum of banking services . the bank is now desirous of getting able and qualified individuals to fill the following post :
position description : mkombozi commercial bank plc established in 2009 as a fully - fledged commercial bank offers wide spectrum of banking services . the bank is now desirous of getting able and qualified individuals to fill the following post :
tanzaniainvest interviewed mrs edwina agnellus lupembe , managing director of mkombozi commercial bank . she shares interesting insight on tanzania’s banking sector and her bank , and on the…
mkombozi commercial bank plc ( mkcb ) started as an initiative of the tanzania epscicopal coference to establish a commercial bank with the main objective of serving and supporting the emerging tanzanian businesses for provision of financial services .
dar es salaam . mkombozi commercial bank is planning to raise sh5 billion through its initial public offering ( ipo ) early next month .
swift code mkcbtztzxxx also known as bic code is a unique bank identifier of mkombozi commercial bank ltd and it ' s used to verify financial transactions such as a bank wire transfers ( international wire transfers ) .
mkombozi commercial bank ( dse : mkcb ) has recently launched its new branch in moshi municipality , close to kilimanjaro national park in tanzania’s northeastern region .
csr in mkombozi commercial bank plc began with the first act of cultivating banking habits in an agrarian society – to effectively utilize idle money for productive purposes .
tanzaniainvest interviewed mrs edwina agnellus lupembe , managing director of mkombozi commercial bank . she shares interesting insight on tanzania’s banking sector and her bank , and on the country’s economic development and investment opportunities .
the bank was granted banking license by the bank of tanzania as a full - fledged commercial bank on 18th july 2009 and started banking business on 28th august 2009 .
mkombozi commercial bank ( dse : mkcb ) audited financial results for 2014 recently released , show strong year on year results . interest income on 31st december 2014 reached…
commercial bank mkombozi ( mkcb ) , focused on supporting emerging tanzanian businesses , posted positive financial results for q1 2014 . operating income before taxt at the end of…
mkombozi commercial bank ( mkcb ) has officially launched a rights issue sale of tzs5 . 8 billion in an attempt to raise its capital base . the sale should…
mkombozi commercial bank ( dse : mkcb ) has recently published is financial results for the quarter ended on 31 december 2015 , showing a growth of 9 . 1 % …
, the bank was a large financial services institution , providing commercial banking services to individuals , small to medium - sized corporate clients , as well as large businesses . then , it was the third - largest commercial bank in
read urltoken exclusive interview with mrs . edwina lupembe , managing director of mckb , to learn more about mkombozi bank .
mkombozi bank chairman mr method kashonda said payment of dividend will be through bank accounts and mobile money platform such as m - pesa , airtel money and tigo - pesa . mkombozi’s managing director , mrs edwina lupembe said the bank had posted an impressive performance last year from its six branches country wide .
this report extracts all available information about mkombozi commercial bank plc from emis ' database of company information . the table of contents on the right indicates the categories of information that will be included in your report upon purchase .
the bank is a commercial entity . it has to carry out its operations to generate profits to fulfill its responsibility to all stakeholders .
mkombozi commercial banks plc . ( mkcb ) of tanzania initial public offering ( ipo ) and listing at dar es salaam stock exchange ( dse ) alternative market , the enterprise growth…
thus mobile money is in our development strategy and we are about to introduce this service to the market with our brand name ‘mkombozi bank plus’ .
mkombozi ´s motto is “the bank of integrity” . which corporate social responsibility ( csr ) programmes are in place to also implement this vision of integrity ?
the bank is aiming to grow further to reach more people who need bank services in few years to come .
on behalf of the dar es salaam stock exchange and on my own behalf , i take this opportunity to thank you all for joining us as we officially welcome mkombozi commercial bank plc on its listing at the dar es salaam stock exchange ( dse ) .
the bank has approved a policy for sustainable development , which ensures that bank’s activities are conducive to sustainable social welfare .
the bank becomes the third company to list on the newly established egm after maendeleo bank and swala oil and gas .
a licensed commercial bank that wishes to join the dech has to submit a dully - filled in application form “form 100” to the chairman of committee of management .
mkombozi commercial bank’s target markets are small and medium sized entrepreneurs , companies , saccos , social enterprises such as schools , universities and corporations . mkcb serves the need of growing companies , middle - market and large corporations , institutional investors , financial institutions and government entities .
the bank is a small commercial bank that focuses on serving the lower social economic classes in tanzania , along with their small - to - medium enterprises ( smes ) . as of december 2011 , the bank ' s total asset valuation was approximately us $ 21 . 8 million ( tzs : 34
on this page you will find detailed information on bic code mkcbtztz for mkombozi commercial bank ltd . this swift code follows the same general structure as mentioned in the next section . for a detailed breakdown analysis of bic code mkcbtztzxxx , scroll towards the bottom of the page for specific details .
agl : the bank has the board of directors which has broad and rich experience that is useful in guiding the bank’s activities .
bot requires all banks to raise their capital base to sh15 billion by 2015 . mkombozi bank has so far a core capital deficit of sh1 . 2 billion , the statement said .
mkombozi bank , which has five branches , posted a sh119 million profit after tax in 2013 and its accounts books for the first quarter of this year indicated a profit of sh565 million .
statement by the ceo of the dar es salaam stock exchange mr . moremi marwa on the listing o mkombozi bank ( tanzania ) limited at the dar es salaam stock exchange on 29th december 2014
tbl was the top gainer of the week after its share price appreciated by 11 . 82 per cent to sh12 , 300 . top losers for the week was swissport which depreciated by 12 per cent sh 4 , 400 per share and mkombozi commercial bank that fell by 10 per cent and closed the week at sh900 per share .
the bank is focusing on its vision and mission , especially following these new developments and challenging environment . accordingly , mkombozi bank is prioritizing its efforts in a number of areas to expand the bank’s revenue base and increase its assets and market outreach . these areas include the establishment of agency banking ; intensification of micro lending activities ; intensification of corporate lending activities ;
mwanga community bank limited popularly known as “benki ya wananchi mwanga” opened its doors to the public nine years ago after obtained its license from bank of tanzania as a regional unit financial institution in year 2000 . in 2009 mcb obtained a regional bank license from bot which allow the bank to operate throughout kilimanjaro region .
the stock of exim bank ( tanzania ) is owned by private individuals and corporate entities . the current shareholding in the bank is summarized in the table below :
as national interests turn to the marketplace , tanzania ' s diplomacy has shifted toward establishing strong commercial and diplomatic ties with strategic economic partners .
, the bank maintains over 175 networked branches in all regions and provinces of tanzania .
ebt is a large banking institution , providing commercial banking services to individuals , small - to - medium - sized businesses , and large corporate clients .
, thus setting up the exim bank ( east africa ) group , a regional banking financial services organization . in march 2016 , ebt acquired 58 . 6 % of imperial bank ( uganda ) ltd and changed its name to exim bank ( uganda ) limited .
, the bank maintains headquarters in dar es salaam , tanzania ' s largest city . it maintains the following subsidiaries , which together form the exim bank group ( east africa ) :
all banks provide the same services the only advantage that we have in this respect is we provide fast , reliable services with great integrity . the motto of our bank is “a bank with integrity” .
to be a rural microfinance bank which will deliver high quality services for the development of mbinga district . the bank will continually stimulate economic growth and be a lead catalyst in the war against poverty .
formulating and recommending the bank ' s vision , mission and strategic direction to board of directors . ;
the bank said its share will trade cum - dividend between may 27 and june 15 and goes to exdividend on june 16 . mkombozi was established in 2009 by roman catholic church and its institutions as a local initiative to support the emerging small medium and large businesses for provision of financial services .
the bank deposits reached 102 . 55bn / - at the end of 2016 while loans and advances ballooned to 73 . 8bn / - , to enable mkombozi generated a profit of 1 . 04bn / - . the bank , which its share traded at 1 , 000 / - since january , saw its total assets growing to 128 . 17bn / - from 111 . 31bn / - of 2015 .
. it is the first indigenous tanzanian bank to own subsidiaries outside the country , as at march 2016 .
as a result of implementations of the financial sector reforms initiated by the government of tanzania in 1991 , currently there are many fully - fledged commercial banks and financial institutions operating in tanzania .
the mission of dcb commercial bank plc is to contribute to the economic and social development in tanzania for individual , micro , small and medium enterprises , and corporate by developing specialized financial products and services and marketing these through an efficient and sustainable branch network where the customer is treated with promptness and responsiveness .
following the break - up of the old national bank of commerce in 1997 , by act of parliament , three new entities were created : ( a ) nbc holdings limited ( b ) national bank of tanzania ( 1997 ) and ( c ) national microfinance bank . initially nmb could only offer savings accounts , with limited lending capabilities .
this unique swift code directory provides businesses and individuals with an easy way to avoid bank transfer and money transfer mistakes .
tby talks to dinesh arora , ceo of exim bank , on impressive growth , expansion plans , and aims for 2016 .
crdb bank plc rights issue of 435 , 306 , 432 ordinary shares at tzs . 350 per share ( the offer )
the six - year - old bank is offering 5 , 000 , 000 shares at a price of sh1 , 000 each . the share offer will represent 22 . 9 per cent of the bank’s issued and fully paid - up ordinary share capital .
the church - owned bank said in a prospectus emailed by tanzania securities ltd yesterday that it wants to raise the funds to reach the regulatory target as set by the bank of tanzania ( bot ) and use the surplus to boost its capital base .
the bank is a financial institution with a special client focus on micro entrepreneurs , small and medium enterprises , and corporate customers .
the bank , which started operations in 2009 , recently raised sh5 . 8 billion from the rights issue to boost its capital .
the dar es salaam stock exchange is working to spread the word that listing opens commercial doors that would otherwise remain closed to many firms : doors to capital , banking credit - worthiness , and the spoils of the value chain .
, the bank ' s total asset valuation was about us $ 2 . 212 billion ( tzs : 4 . 72 trillion ) .
our founder’s values and ethos based on trust got embedded in the bank’s policies and principles which reflect on its day to day business .
while carrying out its activities the bank is duty bound to ensure that its products and services serve the best interests of the society .
habitat for humanity tanzania previously held building events and hosted volunteers to build houses , both as individuals and part of global village work teams organized through habitat for humanity international or other habitat for humanity country programs . contacts : p . o . box 105506 , dar es salaam mbagala rangi tatu , akiba commercial bank building email : makazibora @ urltoken website : www . urltoken
the dech is temporarily accommodated on the mezzanine floor of the bank of tanzania north tower building along 10 mirambo street awaiting take over by members through the tanzania bankers association . other clearing centers are available at bank of tanzania branches namely arusha , mwanza , zanzibar and mbeya .
the bank listed at dar es salaaam stock exchange ( dse ) – enterprise growth market – in decembre 2014 , under the stock symbol mkcb .
application instructions : aspirants who meet the above qualifications and experience should submit their application letters enclosing detailed cv . copies of academic transcripts and one recent passport size photographs . applicants are also required to indicate names and contacts of at least two non relative referees . closing date : 30th july 2014 apply to : managing director mkombozl commercial bank pic p . o . box 38448 dar es salaam = = = = = = = =
application instructions : aspirants who meet the above qualifications and experience should submit their application letters enclosing detailed cv . copies of academic transcripts and one recent passport size photographs . applicants are also required to indicate names and contacts of at least two non relative referees . closing date : 30th july 2014 apply to : managing director mkombozl commercial bank pic p . o . box 38448 dar es salaam = = = = = = = = =
by june 2016 , the bank ' s total assets had grown to tzs : 1 . 5 trillion ( approx . us $ 700 . 8 million ) .
vicoba’s mission is to empower community with proper skills and adequate capital . vicoba formulate vicoba bank to lend group capital / loans for agricultural tools , entrepreneurship , craft arts , education loans , housing , energy , water , science , technology and communication . vicoba microfinance bank provides credit and financial service to its vicoba groups .
application instructions : aspirants who meet the above qualifications and experience should submit their application letters enclosing detailed cv . copies of academic transcripts and one recent passport size photographs . applicants are also required to indicate names and contacts of at least two non relative referees . closing date : 30th july 2014 apply to : managing director mkombozl commercial bank pic p . o . box 38448 dar es salaam = = = = = = = = = = =
application instructions : aspirants who meet the above qualifications and experience should submit their application letters enclosing detailed cv . copies of academic transcripts and one recent passport size photographs . applicants are also required to indicate names and contacts of at least two non relative referees . closing date : 30th july 2014 apply to : managing director mkombozl commercial bank pic p . o . box 38448 dar es salaam = = = = = = = = = = = = = =
the total number of shareholders at year end 2015 was 4 , 681 ( 2014 : 4 , 688 shareholders ) . the shares of the bank are held as follows :
tby talks to benno ndulu , governor of the central bank of tanzania , on technology being used in the financial sector for mobile money , data collection , and analysis .
“this will enable the bank to tap into new areas of business , open more branches to increase its outreach and , generally , expand its operations , ” the statement said .
industrial & allied index improved by 8 . 11 per cent to 4 , 534 . 97 points while banks , finance and investment index went down by 2 . 72 per cent to 2 , 497 . 85 points . commercial services sector also decreased by 8 . 46 per cent to 2 , 718 . 47 points .
in addition to this , the bank directly participates in social activities to help the development of specific areas / segments such as education for the needy , health and provision of social services .
the bank swift code provides information about the bank and branch where the money should be transferred . being able to check information about the swift code will provide you with the proper information necessary to make or receive payments . some of the banks and their associated branches benefit from an address listing which provides you with the means to match swift codes with financial institution office address .
our bank is driven by market insights , existing and emerging consumer preferences and has a culture of innovation which includes an innovation framework and / or processes that are supported by all levels of management .
membership is open to any licensed bank to operate in tanzania , which in the opinion of members is eligible for membership and agrees to the regulations and rules governing the operations of the clearing house .
if you’re not sure about any of the swift code details you’re using , get in touch with the bank or financial institution in question . they should be able to give you the right information .
mucoba was the first community bank in tanzania . in a profitable and sustainable way mucoba offers loans , savings and other financial services at the doorsteps of entrepreneurs , farmers and employees in mufindi district .
. over the years since that time , further divestiture by the tanzanian government and subsequent listing of the bank ' s stock has led to a diversified ownership structure , as outlined under
ownership
.
twb officially opened its doors to the public on the 28th of july 2009 . with a passion and commitment towards female entrepreneurs , the bank’s aim is to empower women economically and socially . twb strives to provide high quality services all across the board , thus the bank’s recognition and appreciation for the presence of low income earners , small businesses , the corporate clientele base , and small and medium enterprises ( smes ) .
enoch osei - safo , managing director of ecobank tanzania , in conversation with tby , explained the advantages of the bank ' s chinese desk—china direct—that launched its tanzanian operations in partnership with the bank of china in march 2013 . “africa has a significant chinese population that lacks access to a physical bank . our new alliance with the bank of china enables its customers in tanzania to make use of ecobank . and when faced by transactions that exceed our financial capabilities , we are able to rely on risk sharing with ecobank operations in other countries .
servicing all multinational chinese businesses active in africa , the dedicated global account manager is a single point of contact , “in a way bridging china with the whole of east africa ,
he added . tellingly , in 2013 the revenue stream from the chinese business line appreciated by 345 % yoy .
as for a specific company , listing into the exchange results into more publicity , increased opportunities for future capital raising , in being more efficiency , increased transparency , attracting good talent , benefiting from tax incentives , and becoming more socially and economically responsible to the community . mkombozi has therefore made the right choice to join the family of companies so it can benefit from being listed .
the first 4 characters - 4 letters (
aaaa
) : institution code or bank code - this code is used to identify the institution’s global presence ( all branches and all divisions around the world ) .
willingness to live and practice the core values of the bank , which are grounded in the concern for the disadvantaged and the unbanked small and medium size entrepreneurs , and upholding integrity in the services it provides . ;
akiba commerce bank ( acb ) managing director john lwande ( left ) briefs journalists in dar es salaam yesterday on launching the new golden account and a call centre . with him are acb officials . photo | emmanuel herman
the managing director shall be the chief executive officer , responsible for the day - to - day management of the bank , for provision of a dynamic and strategic leadership , vision and direction of the bank , ensuring appropriate outreach , growth and profitability while providing high - quality and transformation services . he or she shall be appointed by the board of directors . duties and responsibilities the successful applicant will be responsible ' for , but not limited to the following duties :
for instance , when the instrument is drawn on account maintained at another branch of the same bank , it has to be sent to the paying branch for payment , and an adjustment of funds takes place through inter - branch accounts .
the day to day business of dech is conducted under the supervision of dech supervisor and assistant supervisor . bank of tanzania appoints the supervisor . the assistant supervisor is appointed by dech technical committee from one of member banks on rotational basis of two months tenure .
management and staff of the bank have a genuine commitment for excellence and well - focused shared vision and commitment and support from the roman catholic church institutions countrywide , who view it as an institution intended to serve an under serviced sector of the population of tanzania .
if the instrument is drawn on another bank’s branch , then clearance has to take place through a clearing house . the clearing house is a place where representatives of member banks meet at specified times , to exchange instruments and determine the net balances against each other .
the bank is only over three years old , however , it has managed to position itself on providing high quality and integrity banking services to small , medium sized enterprises and corporate businesses such as companies , savings and credit co - operative ( saccos ) , schools and universities .
in 2013 finca tanzania has become the first microfinance institution in the country to transform from a non - regulated organization to an entity regulated by the bank of tanzania . this change in status will make it possible for even more tanzanians living in rural areas access to formalized banking services .
address : p . o . box 10485 mwanza , nyerere road opp . bank of tanzania - mwanza branch email : victoria . saccos @ urltoken geographical coverage : mwanza region main service / product : individual , group and salary loans targeted clients : individuals , entrepreneurs , groups , etc .
tanzania has welcomed several foreign banks , all of them keen to participate in the nation ' s inevitable growth and the formalization of the capital markets . some of the banks that have commenced operations include fnb from south africa , uba from nigeria , ecobank from west africa , and equity bank from kenya .
organization the highest organ is the board of directors , charged with the formulation of broad policy guidelines . operations are entrusted in the managing director , who is the chief executive officer of the bank . he is assisted by the personal assistant to md ' s office , 5 chief managers heading their respective departments and managers .
, according to its website , the bank ' s total assets were valued at 1 . 25 trillion tanzanian shillings ( tzs ) ( us $ 584 . 7 million , assuming an exchange rate of tzs 2 , 138 per us dollar ) with shareholders ' equity of tzs 192 billion ( us $ 90 million ) .
mckb has ( 3 ) branches in dar es salaam ( st joseph’s branch , msimbazi branch and kariakoo branch ) and has ( 1 ) branch in mwanza opposite bot . mkcb plans to build a branch network throughout tanzania . the bank listed at dar es salaaam stock exchange ( dse ) – enterprise growth market – in decembre 2014 , under the stock symbol mkcb .
we at dse , at the capital markets at large , are generally proud of our history and performance of listed companies . the 20 listed companies have a total market capitalization of tzs 21 . 8 trillion , 13 of which are domestic listed companies whose market capitalization is tzs . 9 . 6 trillion . listing of mkombozi today will increase our market capitalization by tzs 20 . 6 billion and the number of listings to 21 in total , 14 domestic and 7 cross listed - - all these companies are fairly responsible to their shareholders . we believe that rules and regulations , oversight and procedures whose ultimate goal of protecting both investors and issuers have served the dse , the capital market and the tanzanian economy well .
the financial stability report for march 2014 issued by the bank of tanzania ( bot ) reveals that the banking sector accounts for roughly 70 % of the financial system ' s total assets , marching in step with broader economic growth , as demonstrated in the expansion of banks ' physical infrastructure , as well as employment of the agent banking model , the broader leveraging of mobile banking—mobile penetration exceeds 60 % —and integration of mobile financial services to extend financial inclusion .
dcb operates from 8 branches conveniently located within dar es salaam municipality , all networked and connected with atm of umojaswitch . · the bank’s head office and magomeni branch are located at dcb house magomeni mwembechai in kinondoni municipal · arnautoglu branch is located at arnautoglu building - mnazi mmoja grounds , bibi titi mohamed road in ilala municipal · temeke branch is located opposite to temeke primary court , temeke / evereth junction road . · tabata branch at tabata old dampo area in ilala municipal · ukonga branch is at aviation house , nyerere / kitunda road junction - banana area in ilala municipal . · chanika branch is located at chanika road .
agency banking manager reporting to : director of operations . key responsibilities : • responsible to ensure effective development . innovation and management of agency banking as an alternative channel of the business . • developing agency banking business . • preparation of annual marketing plan for agency banking and its budget . • review and process for approval agent’s selection . • oversee agency banking activities as per approved budget and plan . • monitor performance of agencies and attending various issues concerning agency banking . • oversee activities of the agents and agents banking officer . • preparation of policy manuals and review where necessary . • ensure proper training of agents and staffs . • to submit different analytical reports as required periodically . • set targets and ensure they are met . • handle customer complains • performing any other duties as may be assigned from time to time . outcome – measures : 1 . successful support of an alternative channel model for the bank 2 . successful project implementation and product developments 3 . a positive customer experience in the new channels 4 . viable solutions for the customers 5 . successful relations with internal and external parties in delivering services through alternative channels . 6 . other outcomes as determined by the bank 7 . commercially oriented . a strategic thinker . and able to discuss strategic and sensitive issues . 8 . prior exposure to alternative channels institutions / direct sales operations would be an added advantage . 9 . a team player with ability to work harmoniously with other internal and external parties . 10 . fluency in english and swahili
the overlapping issue between iso 9362 and iso 13616 is discussed in the article international bank account number ( also called iban ) . the swift network does not require a specific format for the transaction so the identification of accounts and transaction types is left to agreements of the transaction partners . in the process of the single euro payments area the european central banks have agreed on a common format based on iban and bic including an xml - based transmission format for standardized transactions ; the target2 is a joint gross clearing system in the european union that does not require the swift network for transmission ( see ebics ) . the target - directory lists all the bics of the banks that are attached to the target2 - network being a subset of the swift - directory of bics .
the company provides investment opportunity to investors to gain in exposure of highly prospective and competitive banking sector in tanzania . the marketing strategies of the company will increase market coverage in the country as to date it has four branches which are kariakoo , msimbazi , mwanza and st joseph , there are other new branches which are in the progress .
fi nancials in the fiscal year 2013 , the company’s net income was 119 million which higher than the previous year of 2012 .
earnings per share - tzs 0 . 010 ( 0 . 065 ) 0 . 003
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so as to continue enhancing affordability , accessibility and in line with our objective of increasing financial inclusion in the country we are building branch networks .
it is tailor made and enables you to save for special milestones in life such as holiday at your dream destination , wedding , school fees for your children at best schools or colleges , constructions e . t . c
mckb has ( 3 ) branches in dar es salaam ( st joseph’s branch , msimbazi branch and kariakoo branch ) and has ( 1 ) branch in mwanza opposite bot .
st joseph’s branch plot no . 40 , mansfield street ( behind st joseph’s cathedral ) p . o . box 38448 dar es salaam , tanzania . tel : + 255 22 213 7806 / 7 , + 255 713838496 fax : + 255 22 213 6775 / + 255 22 213 7802 email : humphrey . singogo @ urltoken
mwanza branch nyerere road , opposite bot p . o . box 11923 mwanza , tanzania . tel : + 255 28 2500936 , + 255 28 2500916 , + 255 754210368 fax : + 255 28 2500935 email : nicholas . mokirya @ urltoken
msimbazi branch kawawa road , msimbazi centre p . o . box 40030 dar es salaam , tanzania . tel : + 255 22 2203243 / 4 , + 255 754210901 fax : + 255 22 2203245 email : rigobertus . msuba @ urltoken
kariakoo branch aggrey street , near uhuru primary school p . o . box 38429 dar es salaam , tanzania . tel : + 255 22 2182012 / 2182025 , + 255 715595684 fax : + 255 22 2180088 email : lameck . mavipya @ urltoken
bukoba branch plot no . 190 , jamhuri road opposite police station p . o box 1137 bukoba , tanzania
moshi branch upinde street / kibo road christ the king cathedral p . o box 9 moshi , tanzania
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tanzania standard ( newspapers ) ltd daily news building plot no . 11 / 4 nelson mandela expressway p . o . box 9033 phone : 073 - 2 923559 advertising : advertising @ urltoken email : info @ urltoken
plot no . 40 , mansfield street ( behind st joseph ' s cathedral ) , p . o . box 38448
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· paul rupa - kariakoo branch is located at msimbazi road opposite simba sports club building .
nascent , yet operating in a rational environment , tanzania ' s banking universe is mirroring broader economic trends and set up for wealthier days in this east african nation .
for the year ending march 2014 , total banking sector assets rose 12 % to tzs20 , 141 . 3 billion ( $ 12 . 59 billion ) , with deposits also up by double - digit figures ( 10 . 9 % ) to tzs15 , 726 . 5 billion ( $ 9 . 83 billion ) . sector assets as a percentage of gdp were at 37 . 9 % in march 2014 down from 40 . 2 % yoy . for the period , the bot report indicates that , “the banking system remained profitable , adequately capitalized , and liquid ,
with the caveat that , “asset quality declined slightly mainly due to increase in non - performing loans [ npls ] in the personal , trade , manufacturing and agricultural credit categories .
yet the system was sufficiently capitalized to mitigate against systemic risk , where , on aggregate , the sector ' s total capital adequacy ratio ( car ) was 19 . 4 % , almost twice the stipulated 10 % threshold .
meanwhile , in terms of asset quality and credit concentration , “the banking sector was observed to be relatively exposed to credit risk . the assessment of asset quality based on the gross npls ratio , revealed marginal deterioration during the year to march 2014 .
yet in terms of credit concentration , the industry was deemed to be fairly diversified . npls rose to 8 . 3 % in march 2014 from 7 . 9 % a year before . increased npls were driven by personal loans and lending to trade , manufacturing , and agriculture . the npls of financial intermediaries in march 2014 stood at tzs38 . 5 billion , up from tzs18 . 5 billion in march 2013 .
the banks remained profitable in aggregate terms , as the system posted a return on assets ( roa ) of 3 . 0 % and net interest margin ( nim ) of 68 % for the period . liquidity , too , was high , and for the period the liquid asset ratio was at 36 . 4 % , again , healthily in excess of the regulatory threshold of 20 % . the ratio of total loans to total customer deposits , at 71 . 9 % in march 2014 was up from 68 . 8 % a year before .
china is , of course , well ensconced on the continent of africa , and actively funding core infrastructure projects . tanzania and china have signed five such contracts worth $ 1 . 7 billion . chinese investment has in recent years soared , to a current $ 2 . 5 billion .
rwanda was the first east african country to take the eurobond route in april 2014 , raising $ 400 million , the 10 - year notes of which have returned 2 . 4 % thus far . and now , according to finance minister saada salum , tanzania aims to realize its first eurobond issuance in 2015 or 2016 to fund infrastructure projects . the value of the deal , while unconfirmed , is estimated at up to $ 1 billion according to reuter ' s . all of this , however , is contingent upon tanzania first receiving the international sovereign rating it currently lacks .
inflation has dropped dramatically over the past year , but a widening current account deficit continues to underline external vulnerability . the discovery of significant gas reserves , however , could be a much - needed shot in the arm .
tby talks to he jakaya kikwete , president of the united republic of tanzania , on tanzania ' s appeal to foreign investment and developing resources for broader national benefit .
tby talks to he bernard kamillius membe , minister of foreign affairs and international cooperation of the united republic of tanzania , on economic diplomacy , attracting fdi and investment , and the relationship between tanzania and the eac and sadc .
throughout tanzania ' s history , zanzibar has remained semi - autonomous . now , a constitutional referendum may enshrine its status in tanzania ' s legal system .
tby talks to he samuel j . sitta , mp , minister of east african cooperation , on the planned monetary union , priority projects for 2015 , and the long - term development of east africa .
as a founding member of the east african community ( eac ) , tanzania has been at the forefront of championing and advocating the intergovernmental organization ' s regional integration efforts .
tby talks to amb . dr . richard sezibera , secretary - general of the east african community ( eac ) , on the importance of tanzania , milestones of the eac , and goals for the future .
tby talks to masagos zulkifli bin masagos mohamad , senior minister of state , ministry of home affairs and ministry of foreign affairs of singapore , on bilateral relations , projects in the energy sector , and areas of interest for investment .
solid growth and falling inflation gave cause for celebration as tanzania entered 2014 , yet a fall in export revenues highlighted the country ' s continued vulnerability to external pressures .
tby talks to amb . ombeni y . sefue , chief secretary of the government , on e - government initiatives , the big results now plan , and the impact of natural resources discoveries .
the high potential of private equity deals in sub - saharan africa has been translating into real investments in recent years .
tby talks to christine lagarde , managing director of the imf , on tanzania ' s role in the rise of africa , ensuring that natural resources wealth is managed correctly , and the imf ' s policy support instrument for tanzania .
the tanzanian government is using the big results now plan to assure it meets its vision 2025 development goals and positions itself as a middle - income economy .
tby talks to moremi marwa , ceo of dar es salaam stock exchange , on growth in the markets , encouraging financial inclusion , and integrating in east africa .
tanzania ' s first eurobond will confirm that the giraffe , metaphorically speaking , has all four legs planted on the ground .
tby talks to irene c . isaka , director general of the social security regulatory authority ( ssra ) , on extending pensions out to the informal sector , and the need for further regulatory reform .
tby talks to stephen okundi , ceo of real insurance , on sector trends , and the catalytic effect of education on social inclusion .
tanzania is hoping to take advantage of its growing gas reserves not only to stabilize its own electricity supply , but also to become a major lng producer in the future .
tby talks to yona killagane , director general of tanzania petroleum development corporation ( tpdc ) , on new legislative changes , exploration blocks , and local content .
tby talks to adam prince , country manager of tanzania at bg group , on what the company has planned in tanzania and what lng resources could mean for the country .
tby talks to øystein michelsen , country manager of statoil tanzania , on the natural gas law , lng plants , and the company ' s goals for tanzania .
the recent gas discoveries made off the coast of tanzania have put the country on the map and made it a new focus for international investment and exploration .
tby talks to patrick rutabanzibwa , country chairman of panafrican energy tanzania ( pae ) , on being a pioneer in the natural gas sector and its future .
tby talks to eng . felchesmi j . mramba , managing director of tanzania electric supply company ( tanesco ) , on the sector ' s restructuring process and new discoveries .
tby talks to emeka okwuosa , chairman & amp ; ceo of oilserv limited , on the company ' s current projects and capacity building .
the mtwara port is set to expand substantially in order to cope with the gas discoveries made in the south of the country .
tanzania ' s industrial sector plays a noteworthy part in the wider economy , though it remains somewhat hampered by a reliance on agricultural raw materials .
tby talks to steve gannon , managing director of serengeti breweries , on changes in local beer consumption and sourcing local inputs for production .
tanzania ' s mining sector is most renowned for its production of gold and the indigenously exclusive rare gem tanzanite , but proven reserves and recent investments could soon propel it to the ranks of the continent ' s top iron ore and coal producers .
tanzania has come a long way toward developing a viable mining sector , but increased investment from abroad will be decisive if further gains are to be made .
despite recent falling gold prices , tanzania ' s sizeable gold resources are still attracting fdi from large overseas operators in both the exploration and exploitation fields .
tby talks to brad gordon , ceo of african barrick gold ( abg ) , on local content , expansion plans , and production targets .
tby talks to the hon . makame m . mbarawa , minister of communication , science , & amp ; technology , on supporting tech entrepreneurs , private investment , and closing the digital divide .
tby talks with prof . john s . nkoma , director general of the tanzania communications regulatory authority ( tcra ) , on expanding services in the country , developing innovation , and increasing ict penetration .
technological literacy is seen as underpinning national development , and the nictbb project is setting the pace for the future .
tby talks to sunil colaso , managing director of airtel tanzania , on the booming telecoms scene and mobile payments in tanzania .
mobile , or m - money , remains far from a saturated market , but as uptake increases in line with mobile penetration , it is having a positive effect on tanzanians ' attitudes towards safeguarding tomorrow .
tby talks to suleiman s . suleiman , director general of tanzania airport authority ( taa ) , on new infrastructure and changing mindsets to appeal to foreign investment .
with construction finally started in 2014 , the new port of bagamoyo could rival mombasa and other indian ocean ports in the field of logistics .
the real estate sector in tanzania holds great potential ; however , in order to realize this potential and avoid hampering future growth , an increase in supply is needed in residential , office , and retail space .
tby talks to nehemiah kyando mchechu , director general of the national housing corporation ( nhc ) , on performance , satellite cities , and private investor opportunities .
facing a shortfall in affordable , high - quality housing , particularly in urban areas , the tanzanian government has developed a plan that is both progressive and growth - friendly to address the most basic needs of its people .
with a significant percentage of funding slated for infrastructure developments , construction industry bosses and investors are gearing up for a busy future .
tby talks to hamish hamilton , chairman of nabaki afrika , on green products , building trust in business , and trends in the construction sector .
tby talks to ashutosh jog , director of advent construction limited , on how the sector has changed in tanzania .
a booming economy , coupled with increased foreign investment , is driving the cement industry pushing tanzania to be the largest producer of cement in east africa .
while a dominant share of tanzania ' s labor force works the fields , low commercialization and poor access to finance hold back profits ; yet assistance programs targeting small farmers are showing signs of success .
tby talks to henry j . semwaza , advocate , director general of the sugar board of tanzania , on efforts to become self sufficient , possible export markets , and reform in the sector .
the government of tanzania is tackling the mammoth task of turning its rich agricultural potential into a reality with the southern agricultural growth corridor initiative and some help from its many local and international development partners .
after decades of stagnation , tanzania ' s clove industry looks set for exponential growth as world demand increases , prices bounce back up , and the government invests in a program to improve yields and efficiency in the sector .
the challenge of addressing high mortality factors is being met , often through simple but effective preventative measures . however , further development of the healthcare sector needs to be further addressed .
of the approximately 35 million people living with hiv across the globe , over 1 . 6 million are tanzanian .
despite economic and social challenges , the government of tanzania is working effectively with its international partners to assure universal access to basic education and expand higher education , whilst keeping an eye on achieving quality results .
while a large number of charities operate across east africa , tembo stands out in its mission to empower micro business owners and get more girls into school .
local tourism authorities and the private sector are aiming to make tanzania more attractive to visitors , with over a million arriving each year to sample its natural wonders .
tby talks to devota mdachi , acting ceo of the tanzania tourist board ( ttb ) , on developments in the sector , improving infrastructure , and hope for the future of tanzanian tourism .
for adventure seekers looking for something new to see , tanzania ' s extensive network of national parks and game reserves should provide the answer .
joseph sheffu , country leader of ey tanzania on the ins , outs , and opportunities to be had by investing in tanzania .
tby talks to israel kamuzora , commissioner of insurance at the tanzania insurance regulatory authority ( tira ) , on the regulatory framework , increasing penetration , and growth sectors .
nmb plc , head office ohio / ali hassan mwinyi road , p . o box 9213
this article is issued from wikipedia - version of the 10 / 31 / 2016 . the text is available under the creative commons attribution / share alike but additional terms may apply for the media files .
edwina agnellus lupembe : development in the financial sector , in particular , the banking sector has played a key role in stimulating and stabilizing economic growth in tanzania .
the tanzania banking sector has continued to demonstrate steady growth over the past years .
the current multitude of banks and financial institutions have brought stiff competition in the industry , introduced many products and services to the diverse users of financial services .
this move is revolutionizing the whole practice of the tanzania economy which depended on the cash economy to next generation of non - cash economy .
agl : to innovate new banking products & services to fill in the vacuum of a large portion of unbanked local population of the economy left by other banks .
we are geared to support the government’s endeavour to fight poverty in the country .
the challenges ahead are enhancement of customer service , innovations in technology , improvement of risk management systems and diversifying products .
there is also the stiff competition from the other banks and market dynamics that we have to live with .
ti : mobile money is experiencing incredible popularity in tanzania . how is this influencing your development strategy ?