Company Profile
Tanzania Breweries Limited (TBL), a subsidiary of SABMiller, manufactures, sells and distributes clear beer, alcoholic fruit beverages and non-alcoholic beverages within Tanzania. TBL as a major player in the beverage sector is committed to the export of its products to niche and neighboring markets under the East Africa common market trading arrangement.TBL has controlling interest in Tanzania Distilleries
Limited and Darbrew Limited. TBL’s most popular clear beer brands include Safari Lager, Kilimanjaro Premium Lager, Ndovu Special Malt, Castle Lager and Castle Lite. Other prominent brands associated with the TBL group are Konyagi Gin, Amarula Cream and Redds Premium Cold. The TBL group is listed onthe Dar es Salaam Stock Exchange, employs 1,868 people and is represented throughout the country with four clear beer breweries, a distillery, an opaque business, a malting facility and 10 distribution depots.

Overview of SABMiller
SABMiller is one of the world’s largest brewers with brewing interest or distribution agreements in over 60 countries across six continents. The group brands include premium international brands such as Miller Genuine Draft, Peroni Nastro Azzurro, Grolsch, Fosters and Pilsner Urquell, as well as an exceptional range of market leading local brands. SABMiller is listed on the London and Johannesburg stock Exchanges.

Financial Review
The Tanzania Breweries Limited Group of Companies (TBL) has delivered another sound set of results despite extremely challenging market conditions for the year ended 31st March 2015. Annual lager volumes were 6.5% down on prior year mainly as a result of above-inflation price adjustment following the 20% increase in excise. This was further exacerbated by challenging economic conditions especially in the Northwest and Far South regions. Wines and Spirits volumes were 36% above prior year with outstanding performance from brands like Konyagi, Vladmir and Zanzi Cream. Volumes for opaque beer were in line with prior year.

Sales revenue growth of 10% over prior was driven by the favourable mix and the excise driven price increase.

Operating profit ended the period 7% ahead of prior year mainly due to production efficiencies as well as cost savings. The Tanzanian Shilling has come under pressure and depreciated by 14% against the US dollar year to date. This continued to put additional pressure on the cost of imported production materials.

Total cash generated from operations amounted to Tsh 365 billion, of which Tsh 95 billion wasutilised to pay corporate tax, while the remaining amount funded capital expenditure, repayment of bank borrowings, interest expenses. Dividends of Tsh 152 billion were paid to shareholders. The growth in earnings was achieved largely as a result of favourable mix, improved efficiencies as well as focused cost management whilst operating in an extremely challenging environment. I would like to thank the Board, management and employees for their efforts and continued support as well as our customers, consumers and all stakeholders for their loyalty.

Roberto Jarrin
Managing Director
 
TBL financial results for the year ending March -2015 can be obtained through the link below

http://dse.co.tz/sites/default/files/dsefiles/TBL%20F15%20Financial%20Results%20Press%20Release.pdf

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CEO’s QUALTERLY NOTE (Q2, 2015)

DSE recorded a decent Q2 performance, albeit with mixed outcomes – total market capitalization and DSE Index recorded a growth of 5 percent, from TZS 22.7 trillion at the close of1st Quarter (Q1) of 2015 to TZS 23.9 trillion as of 30th June 2015 while domestic market capitalization and indices decreased by 3 percent. The domestic market capitalization decreased from TZS 10.2 trillion as of 31st March 2015 to TZS 9.9 trillion as of end of Q2, 2015 – this is a reverse to a similar situation in Q1 of 2015 versus Q4 of 2014.

Notably, our activities were partly affected by the depreciation of shilling compared to US dollar – this had a negative impact on investors’ returns (as measured in US$). As a result, foreign investors’ activities reduced from 91 percent to 86 percent on the buy-side and from 77 percent to 41 percent on the sell-side from previous quarter to this quarter respectively.

On a positive note -- liquidity (turnover) increased from TZS 278 billion Q1, 2015 to TZS 285 billion during this quarter. On annualized basis, our liquidity ratio is now at 9 percent – this liquidity level is more than 5 times in previous history.

Valuations have decreased slightly during the quarter, and valuations matters! -- if we compare our present weighted market valuations versus earlier periods, today, our market valuations on Price/Earning Ratio-basis are slightly cheaper. However, they are still slightly expensive on price/book value and dividend yields. Our market PER, decreased from the trailing weighted average ratio of 17.98 times as of end of March 2015 to trailing PE ratio of 17.31 times during the quarter – a 3 percent decrease. Weighted average Price/book value is now at 4.6 times compared to 4.3 times previous quarter. Similarly, weighted average dividend yield is now at 3.1 percent versus 3.0 percent in earlier period.

As for the bonds market segment – there was a significant decrease in turnover during the quarter: bonds trading turnover was TZS 75 billion (on cost basis) versus TZS 136 billion in the previous quarter.

During Q3, 2015, we expect at least three listings: Mwalimu Commercial Bank, PTA Bank (for corporate bonds) and YETU Microfinance.

Our top priorities during the coming quarter includes: is to introduce mobile and internet trading in our platform, encourage more listings, public education and awareness, integrating and synchronizing our Central Securities Depository (CSD) to that of Bank of Tanzania for government bonds trading. Our demutualization process is now at the advanced stage, we expect IPO and self-listing by end of Q1, 2016. This initiative aims at enhancing our governance structure, provide DSE with efficient financing options for its future growth and also increase DSE’s capability to respond effectively on current and future market needs.

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The Dar es Salaam Stock Exchange (DSE) previously a mutual company limited by guarantee started its operations in 1998. DSE has 21 listed companies whose total market capitalization is TZS 24.5 trillion, it also has listed corporate and government bonds worth TZS 4 trillion.
The DSE has recently changed its formation and name from a mutual company limited by guarantee to a public limited company limited by shares and from Dar es Salaam Stock Exchange Limited to Dar es Salaam Stock Exchange Public Limited Company.
The objective of these changes is to enhance DSE’s operational, financial and governance structures and capabilities so as it can efficiently execute its mandates in line with DSE strategic objective: i.e. to be the focal point for long-term capital raising by private enterprises and public sector within the economy via provision of efficiency infrastructure, systems and listing platform for multi-financial products.
In line with the above, the DSE intends to offer its shares for subscription by the public through the Initial Public Offering (IPO) and self-list into the Exchange.
This is therefore an invitation for Expression of Interest (EOI) by eligible firms to provide the following consultancy services:

1. Lead Transaction Advisor;
2. Co-Sponsoring Stockbrokers;
3. Legal Advisor;
4. Reporting Accountant;
5. Public Relation Firm; and
6. Lead Receiving/Collecting Bank.

Interested firms must provide information indicating that they are qualified to perform the services by submitting firm’s profile, description of similar assignments, experience in similar conditions and availability of appropriate skilled staff. Firms may associate to enhance their qualifications.
Selection of firms that will be invited for submission of proposals will be on quality bases.
Interested eligible firms may obtain further information from the DSE offices, Golden Jubilee Towers, 14thFloor, PSPF Building, Ohio Street, P.O Box 70081 Dar es Salaam. Telephone: +255 22 2128983; Fax: +255 22 2133849; email: info@dse.co.tz from 9.00 a.m to 5.00 p.m on Monday to Friday.
One original and three copies of written EOIs must be delivered in a sealed envelope, addressed to the CEO, Dar es Salaam Stock Exchange and must be hand-delivered on or before 2.00 p.m on 21th July 2015.
Late EOI shall not be accepted for evaluation irrespective of the circumstances.

CHIEF EXECUTIVE OFFICER
DAR ES SALAAM STOCK EXCHANGE

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The NMB Managing Director - Ineke Bussemaker handing over a dummy cheque of TZS 16.5 Billion to the minister of Finance - Saada Mkuya as the government’s dividend from the bank after a net profit after tax of TZS 155.6 Billion in 2014. The board of directors then approved TZS 52 Billion as dividend to shareholders. The government being the second largest shareholder with 31% had a dividend of TZS 16.5 Billion. Looking on from left is the Permanent Secretary of the Ministry of Finance - Dr Servacius Likwelile.

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Pursuant to the resolution for the Rights Issue which was passed at the Annual General Meeting (AGM) of CRDB Bank Plc. held on 9th May, 2015 and subsequent approvals by the regulators, the Directors of CRDB Bank Plc hereby announce the issuance of the Rights shares in the ratio of one (1) New Ordinary Share for every five (5) Ordinary Shares to the Shareholders who will be on the Bank’s Register of Members at the close of business on Thursday, 18th June 2015 (Record Date).
 
The Rights Issue is fully underwritten. 

Timetable of Principal Events will be as follows:

Activity	Time
Record Date (Cut-off Date)	18th June 2015
Distribution of IM and PALs to Eligible Shareholders	22nd June 2015
Commencement of the Rights Issue	26th June 2015
Closing Date	16th July 2015
Announcement of Offer Results	10th August 2015
Listing and Commencement of Trading at the DSE	14th August 2015

For more information Shareholders are advised to read the Information Memorandum and the Provisional Allotment Letter that will be posted to them. The Information Memorandum can be obtained from all CRDB Bank branches country wide, the Dar es Salaam Stock Exchange (DSE), Stock Brokers’ offices and can also be accessed through the Bank’s website, www.crdbbank.com
 
 
By Order of the Board

Company Secretary
12th June, 2015

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NOTICE OF THE 15th ANNUAL GENERAL MEETING OF THE MEMBERS OF
NATIONAL MICROFINANCE BANK (NMB) PLC

Notice is hereby given that the 15th Annual General Meeting of NMB shareholders will be held at the

Julius Nyerere International Convention Centre in Dar es Salaam on Saturday, 6th June, 2015 at

10.00 a.m. The agenda will be as follows:

15.1 NOTICE AND QUORUM
15.2 ADOPTION OF THE AGENDA
15.3 CONFIRMATION OF THE MINUTES OF THE 14TH ANNUAL GENERAL
MEETING HELD ON 6TH JUNE 2014
15.4 MATTERS ARISING FROM THE PREVIOUS MINUTES
15.5 TO RECEIVE, CONSIDER AND ADOPT THE DIRECTORS’ REPORT AND
AUDITED FINANCIAL STATEMENTS FOR YEAR ENDED 31st
DECEMBER 2014
15.6 DIVIDEND DECLARATION FOR THE FINANCIAL YEAR 2014
15.7 TO RECEIVE AND APPROVE THE PROPOSAL FOR DIRECTORS’
REMUNERATION
15.8 RESIGNATION AND APPOINTMENT OF DIRECTORS
15.9 TO RECEIVE AND APPROVE APPOINTMENT OF EXTERNAL
AUDITORS FOR THE FINANCIAL YEAR 2015
15.10 ANY OTHER BUSINESS

IMPORTANT NOTES:
1. Members wishing to attend the meeting must come with one of the following: a copy of his/her
depository receipt, passport, voters ID card, or bank card.

2. A member entitled to attend and vote at the meeting is entitled to appoint a proxy to attend and
vote on his/her behalf in accordance with the provisions of the Articles of the Company. The proxy
form must be deposited at the registered office of the company not later than 10.00 am Friday, 5th
June 2015.

3. Members wishing to attend the meeting will have to attend at their own cost. Copies of annual
report and proxy forms will be available in NMB branches.

4. Directors propose payment of a dividend of TZS 104 per share, amounting to TZS 52 billion out
of 2014 profit. In 2013, a dividend of TZS 90 per share, amounting to TZS 45 billion was approved
and paid.

Date of announcement of results: - 8th May 2015
Shares trading cum div: - 8th May 2015
Last day of trading cum-dividend: - 27th May 2015
Shares start trading ex-div: - 28th May 2015
Register Closing Date (Books Closure Date) - 1st June 2015
Payment of dividend: - on or about 17th June 2015

By order of the Board.
___________________
Lilian R. Komwihangiro
Company Secretary
May 11th, 2015

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CAREER OPPORTUNITY
The Dar es Salaam Stock Exchange (DSE) is a company limited by guarantee. The role of the DSE in the economy is to facilitate mobilization of financial resources and direct them into productive sectors of the economy through the provision of an efficient securities trading, settlement, depository and registry platform. The DSE has three market segments: the Main Investment Market, the Enterprise Growth Market and Bonds Market. Currently, DSE has a total of 24 listed securities as well as government bonds. Its equity market capitalization is TZS 24 trillion, listed bonds worth TZS 4 trillion, average equity trading of TZS 500 billion and bonds trading of TZS 400 billion per annum.
In order to enhance its listing, trading and security and risk management activities, DSE is looking for three excellent candidates to fill the following positions:
Senior Officer: Listing Sales and Marketing (Main Investment Market)
Qualifications:
A holder of University degree in finance, economics, commerce or marketing with at least three years of experience at the same level in the Financial Markets PLUS a postgraduate degree in finance, economics, commerce or marketing.
Position holder will be responsible for listings sales and marketing of DSE for both equity and debt instruments in the DSE’s Main Investment Market segment.
Duties and Responsibilities

• Conduct market surveys and analysis to identify potential companies for listing
• Prepare periodic recommendation reports to management for appropriate decision making in relation to potential companies for listing on the DSE
• Develop sales and marketing plans aiming at encouraging more listings into the DSE
• Actively engage in all activities involved in widening the database of prospective issuers for Main Investment Market
• Maintain an up-to-date database of companies with potential for listing into the DSE and their future plans
• Handle enquiries by potential issuers of equity and bonds instruments
• Undertake and review market studies in liaison with other DSE stakeholders in order to identify existing gaps that hinders listings on the DSE
• Advise management on appropriate policies aiming at improving the number and quality of listings at the DSE’s Main Investment Market
• Prepare and produce timely short, medium and long term listings market plans, as well as monitoring and evaluation tool for the same
• Supervise all advertising campaigns and promotional activities undertaken with the objective of encouraging more listings on the DSE’s Main Investment Market

• Contribute and participate in DSE periodic and other publications.
• Handle enquiries on research data or market statistics from both the DSE and other stakeholders, particularly those pertaining to listings in the Main Investment Market segment of the DSE.
• Constantly engage with existing and potential listings, Licensed Dealing Members and Financial/Investment Advisers for capacity building and market development initiatives
• Any other duties as may be assigned by management.

 
Senior Officer: Listing Sales and Marketing (Enterprise Growth Market)
Qualifications:
A holder of University degree in finance, commerce or economics with at least 3 years experience at the same level in Financial Markets, PLUS a postgraduate degree in finance, commerce, economics or marketing.
Position holder will be responsible for listings sales and marketing of DSE for both equity and debt instruments in the DSE’s Enterprise Growth Market segment.
Duties and Responsibilities

• Undertake background analysis and initiate policies on matters related to improvements of the DSE’s listings in the Enterprise Growth Market segment.
• Evaluate data from external bodies both industry wise and non-industry-wise and how they relate and affect SMEs’ listings on the DSE
• Undertake market studies and assist in identifying a pipeline of listings and setting of targets for potential SMEs’ listings.
• Actively engage in all activities involved in widening the database of prospective issuers for the Enterprise Growth Market
• Prepare periodic reports to management for appropriate decision making.
• Review research reports and submit to the supervisor for further action.
• Ensure timely incorporation of all information pertaining to securities industry with relevance for SME’s listings in the EGM.
• Develop marketing policy and plan of DSE’s EGM segment.
• Develop effective issuers relations’ policies and procedures and ensure a healthy relationship with issuers.
• Monitor progress on various sectors that affecting progress of SMEs and advice relevant course of action to be taken for better results.
• Coordinate market surveys of EGM’s acceptance level.
• Contribute and participate in DSE periodic and other publications.
• Handle enquiries on research data or market statistics from both the DSE and other stakeholders, particularly those pertaining to SME’s and the EGM segment.
• Constantly engage with existing and potential SMEs, Nominated Advisers and Financial/Investment Advisers for capacity building and market development initiatives
• Any other duties as may be assigned by management.

Position: Officer: Trading, ICT Security & Risks Management 
Qualifications:
Holder of University degree in Computer Science, Information Technology or its equivalent; PLUS Microsoft Certified Engineer qualification with at least 3 years experience in IT Security and Risk Management in the Financial Markets. Knowledge of network infrastructure and database applications is mandatory. A postgraduate degree in Business Administration is an added advantage.
Duties and Responsibilities:

• Working with trading and risk management team to support DSE trading members and other key market participants
• Develop and maintain a system for data control and coordination
• Coordinate the system risk and security analysis and keep track of the system threats via access and trials
• Keep track of system access audit trials
• Participate in the implementation of the DSE’s disaster recovery and business continuity plans for information systems, and continuously test DRS readiness
• Coordinate the information security and risk management compliance activities and continuously test its robustness
• Proactively participate in implementing the organization's information security policies and procedures
• Coordinate and monitor compliance with the organization's security policies and procedures among employees, contractors, and other third parties and to take corrective action
• Manage information security incident response
• Monitors internal control systems to ensure that appropriate information access levels and security clearances are maintained
• Evaluate systems supplied by DSE different vendors; and
• Any other duties as may be assigned by management.

 
 
Successful Candidates will be offered a good package based on the DSE’s salary scale and incentives.
 
Applications should be accompanied with full detailed Curriculum Vitae, Photocopies of Certificates and Letters from three referees in sealed envelopes.
 
Applications should reach the undersigned not later than Friday 19^th June 2015.

The Chief Executive Officer
Dar es Salaam Stock Exchange
14^th Floor, Golden Jubilee Tower
Ohio Street
P.O Box 70081
Dar es Salaam.

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Acacia Mining plc

LSE:ACA

(“Acacia” or the “Company”)

First Stoping Ore from Gokona Underground at North Mara

Acacia is pleased to announce that it has commenced stoping operations ahead of schedule at the
Gokona Underground project at North Mara, with the first ore having been delivered to the process
plant. The first stope has to date demonstrated the expected geotechnical characteristics and
delivered both grade and ore tonnes in line with the mine plan.

We continue to expect a progressive increase in tonnes from the project as it ramps up through the
year and maintain our current expectations for production from the Gokona Underground for the
full year.

Further details can be obtained through the link below

http://dse.co.tz/sites/default/files/dsefiles/Fourth%20Quarter%202014%20Production%20Results%20Invite.pdf

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SWALA FARMS OUT 25% OF LICENCE INTERESTS TO TATA PETRODYNE LIMITED
Swala Oil and Gas (Tanzania) Plc ("Swala" or "the Company") is pleased to announce that it has reached agreement with Tata Petrodyne Limited ("TPL"), a subsidiary of the multinational Tata Sons Limited, under which TPL shall farm into the Pangani and Kilosa-Kilombero licences in Tanzania. This allows Swala to remain committed to these licences and to secure funding for future exploration activities in a way that minimises the risk to its current shareholders.

Tata Sons Limited is the promoter of the major operating Tata companies and holds significant shareholdings in these companies, commonly referred to as the Tata Group. The Tata Group has a market capitalisation of approximately US$110 billion and represents over 8% of the total market capitalisation of the Bombay Stock Exchange.

In the oil and gas industry, a farm-out agreement is an agreement entered into by the owner of one or more licences (who ‘farms out’) and another company that wishes to acquire a percentage of ownership of that licence in exchange for providing services (and ‘farms in´). A farm-out agreement differs from a conventional transaction between two oil and gas lessees, because the primary consideration is the rendering of services, rather than the simple exchange of money.

The terms of the agreement with TPL:
 On receipt of governmental approvals for the transfer of interest TPL will pay Swala the sum of US$5.7 million for a 25% equity interest in the Kilosa-Kilombero licence and a 25% equity interest in the Pangani licence as consideration towards the past costs incurred on the licences;

 TPL will free carry Swala through the costs of the initial well on the Kilosa-Kilombero licence, up to a maximum of US$2.5 million (Swala estimates the gross cost of the well to be US$10.0 million);

 TPL will free carry Swala through the costs of the initial well on the Pangani licence, up to a maximum of US$2.125 million (Swala estimates the gross cost of the well to be US$8.5 million); and

 TPL will pay Swala up to a further US$1.0 million towards the cost of a second well following a commercial discovery in the initial well on the Kilosa-Kilombero licence. Costs incurred above this sum shall be shared by the partners in proportion to their equity.

Further details can be obtained through the link below

http://dse.co.tz/sites/default/files/dsefiles/Farm-in%20Press%20release%20SOGTL%20English.pdf

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The Board of Directors of CRDB Bank Plc is pleased to, subject to obtaining approval from the Annual General Meeting of shareholder to be held on May, 9th 2015, Declare dividend of TZS 15 per issued and fully paid up share in line with the Bank’s dividend policy. Total of TZS 32.6 billion dividend will be paid out which is higher than the TZS 30.7 billion paid out in the year 2013 an increase of 7%. Earnings per share (EPS) is TZS 43.9, price earning ratio (P/E) is TZS 9.8 and dividend yield is 3.5%.

For further details can be obtained from the link below

http://dse.co.tz/sites/default/files/dsefiles/CRDB%20Dividend%20Announcement.pdf

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Performance for the year
Despite a tough domestic economic environment and highly competitive export markets, gross turnover increased from
TZS 445.6 billion in 2013 to TZS 461.7 billion in 2014 or 3.6% up on prior year. However, the 25% excise tax increase in July 2014 drove up prices of our products to unaffordable levels, fuelled further consumer down-trading, increased illicit trade and negatively impacted profitability. The company recorded a profit before tax of TZS 98.3 billion in 2014 compared to TZS 112.1 billion in 2013, equivalent to a 12% decrease over the previous year. Net profit decreased by 12% to TZS 68.6 billion in 2014 from TZS 78.1 billion in 2013.

The company’s business fundamentals remained sound in 2014 with strong liquidity evidenced by cash and cash equivalent of TZS 55.2 billion (2013: TZS 41.8 billion). The Company has no external interest bearing debt. All operations are funded through operating cash flows. During 2014 an additional TZS 9.5 billion (2013: TZS 20.3 billion) was invested in product quality, production capacity and sales distribution infrastructure. Investment in net working capital excluding cash resources of TZS 42.4 billion was TZS 9.8 billion down on prior year (2013: TZS 52.2 billion) as a result of resource optimization initiatives in 2014.

Tax compliance and rewards
The company was fully tax compliant in 2014. The company was recognized and awarded several certificates of compliance by the Tanzanian Revenue Authority (TRA) as 3rd overall winner of the Most Compliant Corporate Taxpayer at the national level at the 8th Taxpayer’s Day held on 21st November 2014.

Dividend
During the year, the directors declared for 2013, a final ordinary gross dividend of TZS 20 billion or TZS 200 per share (2013:TZS 20 billion or TZS 200 per share) and a special gross dividend of TZS 25 billion or TZS 250 per share (2013: TZS 25 billion or TZS 250 per share). Later in the year, the Directors declared for 2014, an interim ordinary gross dividend of TZS 25 billion or TZS 250 per share, which was paid in November 2014 (2013: TZS 30 billion or TZS 300 per share).

Further details can be obtained through the following link

http://dse.co.tz/sites/default/files/dsefiles/TCC_Annual_Report_2014_0.pdf

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The Capital Market Authority (CMA) -Kenya has approved EABL meeting with its shareholder to discuss and approve the sale and disposal of it subsidiary.

Further details can be found through the link below

http://dse.co.tz/sites/default/files/dsefiles/eabl-announcement.pdf

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PERFORMANCE FOR THE YEAR

The detailed financial performance of the company during the year can obtained on TOL a financial report through a link below, the shows a profit before tax of TZS 2,290 million (2013: profit of 945 million), an increase of 142% over last year, while the net sales growth was 35% over the last

FUTURE DEVELOPMENT PLANS

The company is well on course to full recovery and is tracking well along the turnaround strategy 2011-2015 as evidenced by the performance of this year. Board is confident that the objectives of the turnaround strategy will be achieved. The following are updates and developments of major initiatives in the turnaround strategy:

(i) The first round of the rehabilitation of the ASPEN plant was completed which resulted in very good reliability and efficiency. On average the plant is producing at 80-90% efficiency.
Total power consumption per cubic meter of gas produced has come down by 43%. The plant can now produce crude argon and it is expected that the plant will be in a position to produce pure argon in the second phase of repairs expected the last quarter 2015. In line with this, the company has increased storage capacity for liquid gases. This will ensure continuous availability of industrial gases into the market and also save the company costs through production by batch method.

Following these improvements on the ASPEN plant, the company is engaged in finding customers for bulk liquid oxygen and nitrogen in the neighbouring countries of Kenya, Zambia and Zimbabwe. Already one such customer from Zambia has been engaged through a supply contract beginning second quarter 2015. Marketing and selling liquid oxygen and nitrogen within and outside the country is one of the company’s top priorities.

(ii) Carbon dioxide (CO2) line continues to grow as the company continues to demonstrate its reliability and consistency of supplying high quality food grade CO2 to both local and foreign bottling customers. Storage capacity was increased by 100 tons during the year, three additional 20 ton tankers were also added during the year. The company will continue to invest in both its storage and transport capacity for CO2 to strengthen reliability and increase market share across East Africa and SADC region. Already the company is supplying Malawi, Zambia and DRC markets.

The company has overcome all the production bottlenecks and more efforts are employed on building customer intimacy, aggressive marketing and brand awareness. In the midst of this, the company has acquired a plot in Mtwara which is a strategic location to tap into oil and gas sector in both Southern Tanzania and Northern Mozambique.


Future outlook
The company has made significant strides towards recovering its regional market share in carbon dioxide market following capacity enhancement and renewal of distribution fleet.
Besides domestic market the company has been supporting customers in other SADC countries of Malawi and Zambia and DRC. While competition is expected to increase in these markets following other new entrants, TOL is well positioned to capitalise also on the expected growth in the beverage sector in the region.


Further, refurbishment of ASPEN 1000 will see the company realize it’s preferred status as a reliable and competitive supplier of liquid oxygen, nitrogen and argon gases in the region. At a time when oil and gas mining in the region is beginning to take shape, refurbishment of the
ASPEN 1000 has been the right step to take as this sector offers the opportunity to utilize what has been otherwise oversized plant until now.
In conclusion, TOL’s future remain bright and promising. The company is on course to full
recovery and is expected to reverse the accumulated losses in the course of financial year
2015.

DIVIDEND
The Directors do not recommend dividends in respect of the year ended 31 December 2014
(2013: Nil).

Further details can be obtained through the link below in TOL financial report 

http://dse.co.tz/sites/default/files/dsefiles/TOL%20-Financial%20statements%20%202014%20Full%20pack.pdf

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Mkurugenzi wa Shirika la Nyumba la Taifa (NHC), Nehemia Mchechu (kushoto), akibadilishana hati za mkataba na Ofisa Mtendaji Mkuu wa Soko la Hisa Dar es Salaam (DSE), Moremi Marwa wakitiliana saini makubaliano rasmi ya mauzo ya sehemu ya eneo la ofisi katika mradi wa kipekee mpya wa Morocco Square, Kinondoni Jijini Dar es Salaam. Ujenzi wa mradi huo wenye huduma mbalimbali za kisasa unaendelea. (Picha kwa Hisani ya Kitengo cha Mawasiliano kwa Umma na Huduma kwa Jamii)

Mkurugenzi wa Shirika la Nyumba la Taifa (NHC), Nehemia Mchechu (kushoto), akibadilishana hati za mkataba na Ofisa Mtendaji Mkuu wa Soko la Hisa Dar es Salaam (DSE), Moremi Marwa, mara baada ya kusaini makubaliano ambapo DSE itanunua ofisi katika jengo la Morocco Square litakalojengwa na shirika hilo eneo la Kinondoni jijini. Mkataba huo ulisainiwa jijini leo.

 Mkurugenzi wa Shirika la Nyumba la Taifa (NHC), Nehemia Mchechu (kushoto), akibadilishana hati za mkataba na Ofisa Mtendaji Mkuu wa Soko la Hisa Dar es Salaam (DSE), Moremi Marwa, mara baada ya kusaini makubaliano ambapo DSE itanunua ofisi katika jengo la Morocco Square litakalojengwa na shirika hilo eneo la Kinondoni jijini. Mkataba huo ulisainiwa jijini leo.

Baadhi ya wageni waalikwa waliofika kushuhudua NHC na DSE wakitiliana saini makubaliano rasmi ya mauzo ya sehemu ya eneo la ofisi katika mradi wa kipekee mpya wa Morocco Square, Kinondoni Jijini Dar es Salaam. Ujenzi wa mradi huo wenye huduma mbalimbali za kisasa unaendelea

 Baadhi ya wageni waalikwa waliofika kushuhudua NHC na DSE wakitiliana saini makubaliano rasmi ya mauzo ya sehemu ya eneo la ofisi katika mradi wa kipekee mpya wa Morocco Square, Kinondoni Jijini Dar es Salaam. Ujenzi wa mradi huo wenye huduma mbalimbali za kisasa unaendelea.

Watendaji wa NHC na DSE wakibadilishana mawazo wakati wa utiaji saini makubaliano rasmi ya mauzo ya sehemu ya eneo la ofisi katika mradi wa kipekee mpya wa Morocco Square, Kinondoni Jijini Dar es Salaam. Ujenzi wa mradi huo wenye huduma mbalimbali za kisasa unaendelea.

Kaimu Mkurugenzi wa Masoko na Mauzo wa Shirika la Nyumba la Taifa Tuntufye Mwambusi na Meneja wa Uendelezaji Biashara wa NHC, Willia Genya wakibadiliashana mawazo katika hafla hiyo.

Mchechu akibadilishana mawazo na  watendaji wa DSE wakati wa utiaji saini makubaliano rasmi ya mauzo ya sehemu ya eneo la ofisi katika mradi wa kipekee mpya wa Morocco Square, Kinondoni Jijini Dar es Salaam. Ujenzi wa mradi huo wenye huduma mbalimbali za kisasa unaendelea.

 Mkurugenzi wa Hazina na Uendelezaji Biashara wa Shirika la Nyumba la Taifa, David Misonge Shambwe akiwakaribisha wageni katika hafla hiyo.

Mkurugenzi wa Shirika la Nyumba la Taifa (NHC), Nehemia Mchechu (kushoto), na Ofisa Mtendaji Mkuu wa Soko la Hisa Dar es Salaam (DSE), Moremi Marwa wakifuatilia jambo katika hafla hiyo ya utiaji saini. 

Mkurugenzi wa Shirika la Nyumba la Taifa (NHC), Nehemia Mchechu akizungumza katika hafla hiyo.

Watendaji wa DSE wakibadilishana mawazo wakati wa utiaji saini makubaliano rasmi ya mauzo ya sehemu ya eneo la ofisi katika mradi wa kipekee mpya wa Morocco Square, Kinondoni Jijini Dar es Salaam. Ujenzi wa mradi huo wenye huduma mbalimbali za kisasa unaendelea.

Ofisa Mtendaji Mkuu wa Soko la Hisa Dar es Salaam (DSE), Moremi Marwa akizungumza katika hafla hiyo.

Mkurugenzi wa Shirika la Nyumba la Taifa (NHC), Nehemia Mchechu (kushoto), akibadilishana hati za mkataba na Ofisa Mtendaji Mkuu wa Soko la Hisa Dar es Salaam (DSE), Moremi Marwa, mara baada ya kusaini makubaliano ambapo DSE itanunua ofisi katika jengo la Morocco Square litakalojengwa na shirika hilo eneo la Kinondoni jijini. Mkataba huo ulisainiwa jijini leo.

Mkurugenzi wa Shirika la Nyumba la Taifa (NHC), Nehemia Mchechu (kushoto), akibadilishana hati za mkataba na Ofisa Mtendaji Mkuu wa Soko la Hisa Dar es Salaam (DSE), Moremi Marwa, mara baada ya kusaini makubaliano ambapo DSE itanunua ofisi katika jengo la Morocco Square litakalojengwa na shirika hilo eneo la Kinondoni jijini. Mkataba huo ulisainiwa jijini leo.

Mkurugenzi wa Shirika la Nyumba la Taifa (NHC), Nehemia Mchechu (kushoto), akibadilishana hati za mkataba na Ofisa Mtendaji Mkuu wa Soko la Hisa Dar es Salaam (DSE), Moremi Marwa, mara baada ya kusaini makubaliano ambapo DSE itanunua ofisi katika jengo la Morocco Square litakalojengwa na shirika hilo eneo la Kinondoni jijini. Mkataba huo ulisainiwa jijini leo.

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Acacia Mining plc
(“Acacia” or the “Company”)
First Quarter 2015 Results and Conference Call

Acacia announces that it will be publishing its first quarter results for the three months ended 31 March 2015 on Thursday 23 April 2015 at 07:00 BST.

The results will be accompanied by a conference call for investors and analysts at 09:00 BST on the same day.

The access details for the conference call are as follows:

Participant dial in: +44 (0) 203 003 2666 / +1 646 843 4608
Password: Acacia

A recording of the conference call will be made available on the Company’s website, www.acaciamining.com, after the call.
LSE:ACA www.acaciamining.com

ENQUIRIES
For further information, please visit our website: www.acaciamining.com or contact:

Acacia Mining plc +44 20 7129 7150
Andrew Wray, Chief Financial Officer
Giles Blackham, Investor Relations Manager

Bell Pottinger ++44 (0)20 3772 2500
Daniel Thöle

About Acacia Mining plc
Acacia Mining plc (LSE:ACA), formerly African Barrick Gold, is Tanzania’s largest gold miner and one of the largest producers of gold in Africa. We have three producing mines, all located in north-west Tanzania: Bulyanhulu, Buzwagi, and North Mara and a portfolio of exploration projects in Tanzania, Kenya and Burkina Faso.
Our approach is focused on strengthening our three core pillars; our business, our people and our relationships. Our name change from African Barrick Gold to Acacia Mining reflects a new approach to mining, and an ambition to create a leading African Company.
Acacia Mining is a UK public company headquartered in London. We are listed on the Main Market of the London Stock Exchange with a secondary listing on the Dar es Salaam Stock Exchange. Barrick Gold Corporation remains our majority shareholder. Acacia Mining reports in US dollars and in accordance with IFRS as adopted by the European Union, unless otherwise stated in this announcement.

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The Bank posted profit before tax of TZS 5.2billion for the year ended 31 December 2014 (2013: TZS 5.2billion). Profit after tax for the year was TZS 3.8 billion (2013: TZS 3.7 billion). In addition, the following achievements were recorded:-
 Lending position stood at TZS 85.42billion (2013: TZS 78.43billion);
 Total deposits stood at TZS 120.67billion (2013: TZS 108.18billion); and
 Total assets stood at TZS 157.51billion (2013: TZS 143.9 billion).

Please refer to the link below --DCB ANNUAL REPORT for further details 

http://dse.co.tz/sites/default/files/dsefiles/DCB%20Bank%20PLC%20FS%2031%20December%202014.pdf

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Introduction
During 2014 Tanga Cement Public Limited Company celebrated some significant milestones and successes
achieved in executing its strategy and living up to its brand promise of being the ‘Pride of the Nation’. We
are proud of our contribution towards the development of Tanzania, but more importantly the lives of the
Tanzanian people we are able to touch and enhance due to our business activities.

Macro-Economic Overview
General market conditions during the period under review have been tough, but positive. We experienced
an increased influx of imports from neighboring East African countries such as Kenya, which was further
enabled by the removal of tariffs between East African countries and easy access to our major markets in
northern regions by competing brands.
At the same time, cheap imports from the Middle East countries have continued to enter Tanzanian markets
creating unfair competition as they benefit from widespread acts of tax evasion through under declaration
of prices and volumes delivered into local markets. Increased smuggling of cement across the border into
Kilimanjaro and Arusha added to pressure to local markets and prices. We are lobbying with Government
as well as the Fair Competition Commission on control of cheaper imports including manufacturing
substitutes.
We have been pleased with the improvements of rail infrastructure in Tanzania which has boosted the
company’s utilisation of rail as a means of transport which resulted in a slight decrease on the reliance of
more expensive road transport. We look forward to further improvements by Tanzania Railways Ltd. in 2015.

Operational Overview
Despite the challenging market conditions, the group managed to record a satisfactory financial
performance with operating profit being 16 percent below 2013. This included a goodwill impairment
of TZS 6.9 billion which if excluded, would result in a decrease of only 2 percent compared to 2013. This
performance can be attributed to increased direct sales to customers and active initiatives to control
and reduce costs. A reflection of this is that our cost of sales remained relatively unchanged at TZS 161.5
billion (2013; TZS 161.4 billion) despite 40 percent increase in Tanesco’s electricity tarrifs which is a major
component of production cost.
Improving operational efficiencies and containing production costs continues to be a major focus for the
company. We experienced some set-backs in terms of overall equipment efficiencies (OEEs) due to some
equipment failure during the year. Improving on OEEs will be a significant focus during 2015.
The company’s net profit after tax decreased by 12 percent to TZS 28.4 billion. This is as a result of the onceoff
impairment of goodwill.
A major milestone achieved during the year was the complete integration of CDEAL, providing the company
with full ownership of the sales and distribution arm of the business. The acquisition will ensure improved
integration and strategic alignment with Tanga Cement Public Limited Company in executing its strategy.
The construction of a second kiln line at Tanga Cement Public Limited Company is making good progress
and is still on track to produce its first clinker in the last quarter of 2015. Once completed, the second kiln
line will more than double Tanga Cement’s clinker production capacity and result in significant cost savings
for the company.

Sustainability
Safety remains our priority and 2014 was no different. We undertook the utmost care to return each employee
home safe at the end of each shift. Whilst we recorded good results on maintaining a low total recordable
injury frequency rate (TRIFR) of below 1 against a target of 6.4, we unfortunately had a fatality at the kiln at
the end of April 2014. This was thoroughly investigated and a lot of lessons were drawn from the incident. We
have implemented these lessons to avoid similar incidents from recurring in the future.
Our environmental performance has remained on track, with the critical emissions below the legal limit on a
monthly average basis throughout the year. The performance and availability of the monitoring equipment
was however an issue, as we could not get the full benefit of anticipated measurements from it. Phase out of
equipment is being considered in mitigation. For the first time a baseline environmental monitoring program
was implemented on site, we now await the initial results from the sampling and measurements. Tanga
Cement Public Limited Company continued to support the local communities by focusing in the four main
areas of Education, Health, Community development and Environment.

Future Outlook
We expect the coming year to remain challenging and expect we will continue to deliver satisfactory results.
A number of projects have been approved by government and private investors, and these should increase
demand for our products. Among the exciting projects is the development of Kawe City, Tanzanite Mall,
Tanzania China Logistic Centre and the expansion of the Dar es Salaam Port.

Dividend
The board has recommended a final dividend of TZS 65 per share (2013: TZS 60). This amounts to a total final
dividend of TZS 4.1 billion.
Closure of the Share Register
The register of members will close 20th April, 2015 . The last day of trading cum-dividend will be 15th April, 2015.
The final dividend will be paid on or about 31st May 2015.

Conclusion
Our majority shareholder, AfriSam, increased its shareholding from 62.5% to 66.6% during the year. We are
proud of our association with this formidable construction materials company and Tanga Cement Public
Limited Company has benefited greatly over the years from the knowledge and expertise gained through
this relationship. In turn, Tanga Cement Public Limited Company is a critical component and valuable
contributor to the growth and success of the AfriSam Group. We look forward to the many successes both
companies will achieve through our close association.
Finally, on behalf of the Board of Directors, I would like to thank the employees of Tanga Cement Public
Limited Company for the passion they have for the company and their commitment to ensuring its success.
And I also thank the board of directors for their support and our esteemed customers for their loyalty.
We look forward to celebrating many more successes together in 2015.

Advocate Lau Masha
Chairperson

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