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Tukielekea uchaguzi....Benki ya NBC yauzwa kwa Barclays ya Uingereza

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by Geza Ulole, Jun 30, 2010.

  1. G

    Geza Ulole JF-Expert Member

    Jun 30, 2010
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    30th June 10
    The Guardian Reporter

    The British banking conglomerate, Barclays is in the process of taking over the National Bank of Commerce (NBC) branch network in Tanzania from both the government and its South African umbrella group, Absa Group Limited.

    According to media reports, the World Cup has played a role in the two foreign bank’s attitude to reverse views expressed in February this year to decline any mergers or takeovers, according to media reports.

    The Minister for Finance, Mustapha Mkulo, could not be reached for comment yesterday, but South African media reports quote the Absa Group Limited Chief Executive Officer, Maria Ramos, confirming the process to be in progress.

    “With Barclays there is ongoing work and there isn’t a start date for working together in a particular country,” Ramos is quoted as saying in South Africa, adding that Absa, which sold a controlling stake in the lender to Barclays five years ago and has been looking for ways to boost growth in Africa through the partnership, (is to) discuss merging the banks’ Tanzanian operations.

    Absa plans to hold an initial public offering for its 55.5 per cent-owned National Bank of Commerce Limited in Tanzania and list it on the Dar es Salaam Stock Exchange. Ramos said the public offer, which will dilute the state’s holding in NBC, as it’s known, may take place by the first quarter of next year, after which a merger with Barclays may take place. The remaining shares are Tanzania government owned.

    According to the media reports said Absa Group Limited, South Africa’s third-largest lender, said it’s “not worried” about the impact of stress tests on parent company Barclays Plc.

    “We went through stress testing last year and all it showed was that Barclays was in a strong position,” Ramos said in an interview at the Fortune Global Forum in Cape Town yesterday. “What is important is that if that’s what’s going to be done, that everyone gets on the same page,” Ramos added.

    Banks in the UK, where Barclays is based, are facing stress tests and may be subject to levies and taxes. The US has also introduced financial regulations that the government says will protect consumers, curb risks, boost surveillance of emerging threats to markets and give regulators more emergency powers to avoid future taxpayer-funded bailouts of too-big-to-fail firms. If the legislation is successful, it may influence banks globally.

    The soccer World Cup, which began in South Africa on June 11, has boosted volumes through Absa’s ATMs and at its foreign exchange outlets, Ramos said. The event will pay dividends for the country “for a long time,” she said, adding that a South African bid to host the Olympics “may have some value.” Corporate bad debts at Absa are on target to peak in the first half, with Absa’s fiscal first half ending on June 30, Ramos said.

    In February 2008, Absa shelved plans to combine its African business with that of Barclays, which owns about 59 per cent of South Africa’s largest retail bank. The global financial crisis forced Barclays to focus on its UK operations while Absa decided to conserve capital.

    The lender will “look at acquisitions” in Africa if they meet the bank’s criteria, Ramos said. In February this year, Absa was said to be well capitalised with a capital adequacy ratio of 13.7 per cent and SAR 5.1bn in cash on hand. Rivals Standard Bank Group Limited and FirstRand Limited are also building networks in Africa.

    Absa climbed 1.9 per cent to ZAR 119.70 in Johannesburg trading, bringing this year’s gain to 11 per cent. In South Africa, that made it the third best performer behind Nedbank Group Limited and Standard Bank Group Limited on the five member FTSE to JSE Africa Banks Index.

    But the bank said earnings will “remain under pressure for the rest of the year” as South Africa’s economy slides into its first recession in 17 years and consumer spending remains muted even after five interest rate cuts since December 2009. While impairment charges at the retail bank may “peak” by the end of 2010, bad loan losses at its commercial banking division will increase, Finance Director Jacques Schindehutte said.

    Absa, which had been planning to expand in Africa along with parent company Barclays, had earlier this year been seeking to boost its earnings after South Africa’s first recession in 17 years hurt consumer spending. The Johannesburg-based lender has operations in Mozambique and Tanzania and may make an acquisition in Namibia, while Barclays operates in countries like Ghana, Uganda, Kenya and Zimbabwe. Neither of them have operations in Nigeria.

    “We are very keen on Nigeria,” Ramos said. The lender, which didn’t register with the Central Bank of Nigeria to examine buying a stake in one of the country’s 10 rescued banks, sees the West African country as the “obvious” place to go, and Ramos said it remains “on the radar screen.”

    Absa said on Feb. 16 that full-year profit in 2009 fell 36 percent after bad debts surged and it lost money on equity investments. In the first half of 2010, the company’s asset growth has been “pretty muted,” Ramos said, adding that bad retail loans may have peaked, while corporate bad debts may only start to decline after mid-year.

    Absa Group Ltd with majority shareholding in NBC has been looking at the possibility of an added African expansion; but the plans hatched in 2009 came at the same time as the sale of shares of operations in Angola, suggesting a fund raising plan to raise capital for acquisitions.

    In June 2009, the Group sold its 50 per cent stake in the Angola Banco Commercial Angolano Sarl for an undisclosed sum, leaving the lender with operations in Mozambique and Tanzania. The National Bank of Commerce was recently voted the continent’s best commercial bank.

    Absa is said to plan using its investment banking business to expand into Africa and may make acquisitions after reporting a slump in first-half profit, according to recent reports.

    “We ere going to be focusing on the investment banking side through Absa Capital,” Ramos who only recently became chief executive said. “We will be looking at an Africa strategy afresh.”

    THE GUARDIAN: 'Barclays Bank takes over NBC next year'
  2. Mkeshahoi

    Mkeshahoi JF-Expert Member

    Jun 30, 2010
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    Rip nbc
  3. Abdulhalim

    Abdulhalim JF-Expert Member

    Jul 1, 2010
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    Ngoja nihamishe tujisenti twangu kule mapema!
  4. M

    Mdondoaji JF-Expert Member

    Jul 1, 2010
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    Hii habari mie nilikuwa naijua tangia mwaka jana bado tu hawajatakeover. Ndio maana nilifunga account yangu maana ndio basi NBC
  5. Dreamliner

    Dreamliner JF-Expert Member

    Jul 1, 2010
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    Poleple ndio mwendo! Bado polisi na magereza..
  6. Mnyamahodzo

    Mnyamahodzo JF-Expert Member

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    NBC alishakufa siku nyiiingi kweli. Yupo mtoto wake wa kambo anaitwa NBC 1997 Ltd, huy ni mjukuu wa Barclays. barclay alioiimba serikali amchukue mjukuu wake kipindi kile hali ya mwanae NBC ilipokuwa si shwari walimkatalia kisa "eti mlungula".

    Sijui na hili nalo serikali wataendelea kulifichaficha eti kwasababu ni nyeti? Hapana! Nimekosea kuuliza , eti ni kwasababu linafunua aibu yetu? No! It should be, eti ni kwasababu linatuweka wazi tulivyobongolala?

    ABSA plans to hold an initial public offering for its 55.5%.....
  7. Kamaka

    Kamaka JF-Expert Member

    Jul 1, 2010
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    What about customers.?so we are going to be forced to baclaynian!!
  8. Kiranja Mkuu

    Kiranja Mkuu JF-Expert Member

    Jul 1, 2010
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    Nchi isha uzwa hii.
    asiye na chake amlaumu baba yake kwa kuto jiingiza kwenye chama tawala mapema.
    Tayari serikali imeshauza hisa zake ilizokuwa ikimiliki NCB kwa Barkleys.
  9. Masikini_Jeuri

    Masikini_Jeuri JF-Expert Member

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    Nilitarajia hili litokee tangu ABSA waliponunuliwa na HSBC ambayo kuna tetesi majority ownership yake ni hawa hawa BARCLAYS, Kwani hiyo ndiyo ilmekuwa tabia ya makampuni makubwa kutoka kwa Malikia; yamekuwa yakiitumia SA kama base ya kufanya shade dealz kama namana NBC ilivyouzwa (ama tuseme ilivyojiuza)!

    Tanzania ni nchi pekee duniani ambapo watu wamekuja mikono mitupu wakatununua kwa kutumia rasilimali zetu wenyewe! All in the name of Globalization!

    Mungu atunusuru!

  10. Bujibuji

    Bujibuji JF-Expert Member

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    Mbona kazi ipo??
  11. Bujibuji

    Bujibuji JF-Expert Member

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    Hii kali.
  12. Utingo

    Utingo JF-Expert Member

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    Tutaenda wapi mkuu! hata huko unakodhani kuna nafuu, wa huko wanatamani kuja huku. Tutafia humu humu.
  13. Questt

    Questt JF-Expert Member

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    Hakuna vyanzo mbadala vya mapato ya Serikali zaidi ya Kodi....Kila kitu kinamilikiwa na wajanja........
  14. Chimunguru

    Chimunguru JF-Expert Member

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    We are dead and burried
  15. L

    Lubaluka JF-Expert Member

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    " MIX WITH YOURS " at work !!!!!
  16. Masanilo

    Masanilo JF-Expert Member

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    Kuna kila dalili wafanyakazi wa NBC wakapoteza ajira kwa wingi!

  17. SMU

    SMU JF-Expert Member

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  18. Abdulhalim

    Abdulhalim JF-Expert Member

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    Kumilikisha kila kitu kwa wageni ndio sera za hawa 'mabingwa' wa uchumi akina Mkulo. So pathetic.
  19. drphone

    drphone JF-Expert Member

    Jul 1, 2010
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    jamani jamani hii nchi kweli inaelekea wapi eh mungu tuepushe na majanga makuu siku wadanganyika watakapo amka usingizini sipati picha vita yake