Bank M-Connecting the dots...

Information, posted on the Bank M website before it (the website) went off yesterday, showed that the bank is owned by 15 individuals/companies. Here are the shareholders and their shareholding percentages in brackets

1. Vimal Mehta (16.03 pc)
2. Equity & Allied Limited (12.17pc)
3. Sean Patrick Breslin (11.63pc)
4. Africarriers Limited (11pc)
5. Sanjeev (10.53pc)
6. Noble Azania Investment Limited (7.3pc)
7. Khaskar Nair (7.09pc)
8. Sumaria Properties Limited (4.87pc)
9. Simon & Roisin Gregory (4.45pc).
10. Pride Tanzania Limited (3.46pc)
11. Ramesh Patel (3.26pc)
12. Gissings Directors Pension Scheme (2.47pc)
13. Shiva Sanjeev Kumar (1.42pc)
14. Caitrin Breslin (0.90pc).
 
Chini ni listi ya makampuni yaliyochota pesa za EPA na majina ya wamiliki wake ambapo jina la mwanzilishi wa Bank M Vimal Mehta limetokea mara nyingi!

Juzi RA alikuwa ikulu, lakini RA alishiriki kikamilifu kwenye issue ya EPA kwa kupitia kampuni ya KAGODA! Na Vimal Mehta ambaye ni mojawapo wa waanzilishi wa Bank M, ni marafiki wote na kina RA.

Listi kamili...

1.
COMPANY NAME: B.V Holdings Ltd


Shareholders and Directors: Jeetu Patel, Devendrabhai Patel, Metul Patel, Bharat Patel Vimal Mehta

Related Company: Noble Azania Investments

Office Location: Block 27 Plot No. 61-61 Bibi Titi Road

Residence Address: Plot No. 1413 Msasani Penninsula


2.
COMPANY NAME: V & B Associates Ltd

Shareholders and Directors: Jeetu Patel, Devendrabhai Patel, Metul Patel, Bharat Patel Vimal Mehta

Related Company: Noble Azania Investments

Office Location: Block 27 Plot No. 61-61 Bibi Titi Road

Residence Address: Plot No. 1413 Msasani Penninsula


3.
COMPANY NAME: Navy Cut Tobacco Ltd

Shareholders and Directors: Jeetu Patel, Devendrabhai Patel, Metul Patel, Bharat Patel Vimal Mehta

Related Company: Noble Azania Investments

Office Location: Block 27 Plot No. 61-61 Bibi Titi Road

Residence Address: Plot No. 1413 Msasani Penninsula


4.
COMPANY NAME: New Mattalan Mining Company Ltd

Shareholders and Directors: Jeetu Patel, Devendrabhai Patel, Metul Patel, Bharat Patel Vimal Mehta

Related Company: Noble Azania Investments

Office Location: Block 27 Plot No. 61-61 Bibi Titi Road

Residence Address: Plot No. 1413 Msasani Penninsula


5.
COMPANY NAME: Bora Hotel and Apartments Ltd

Shareholders and Directors: Jeetu Patel, Devendrabhai Patel, Metul Patel, Bharat Patel Vimal Mehta

Related Company: Noble Azania Investments

Office Location: Block 27 Plot No. 61-61 Bibi Titi Road

Residence Address: Plot No. 1413 Msasani Penninsula


6.
COMPANY NAME: Noble Apartments Ltd

Shareholders and Directors: Jeetu Patel, Devendrabhai Patel, Metul Patel, Bharat Patel Vimal Mehta

Related Company: Noble Azania Investments

Office Location: Block 27 Plot No. 61-61 Bibi Titi Road

Residence Address: Plot No. 1413 Msasani Penninsula


7.
COMPANY NAME: Noble Azania Industries

Shareholders and Directors: Jeetu Patel, Devendrabhai Patel, Metul Patel, Bharat Patel Vimal Mehta

Related Company: Noble Azania Investments

Office Location: Block 27 Plot No. 61-61 Bibi Titi Road

Residence Address: Plot No. 1413 Msasani Penninsula


8.
COMPANY NAME: Ocean Side Ltd

Shareholders and Directors: Jeetu Patel, Devendrabhai Patel, Metul Patel, Bharat Patel Vimal Mehta

Related Company: Noble Azania Investments

Office Location: Block 27 Plot No. 61-61 Bibi Titi Road

Residence Address: Plot No. 1413 Msasani Penninsula


9.
COMPANY NAME: Bencon Ltd

Shareholders and Directors: Jeetu Patel, Devendrabhai Patel, Metul Patel, Bharat Patel Vimal Mehta

Related Company: Noble Azania Investments

Office Location: Block 27 Plot No. 61-61 Bibi Titi Road

Residence Address: Plot No. 1413 Msasani Penninsula


10.
COMPANY NAME: Ndovu Soaps Ltd

Shareholders and Directors: Jeetu Patel, Devendrabhai Patel, Metul Patel, Bharat Patel Vimal Mehta

Related Company: Noble Azania Investments

Office Location: Block 27 Plot No. 61-61 Bibi Titi Road

Residence Address: Plot No. 1413 Msasani Penninsula


11.
COMPANY NAME: Bina Resorts Ltd

Shareholders and Directors: Jeetu Patel, Devendrabhai Patel, Metul Patel, Bharat Patel Vimal Mehta

Related Company: Noble Azania Investments

Office Location: Block 27 Plot No. 61-61 Bibi Titi Road

Residence Address: Plot No. 1413 Msasani Penninsula


12.
COMPANY NAME: Venus Hotels Ltd

Shareholders and Directors: Jeetu Patel, Devendrabhai Patel, Metul Patel, Bharat Patel Vimal Mehta

Related Company: Noble Azania Investments

Office Location: Block 27 Plot No. 61-61 Bibi Titi Road

Residence Address: Plot No. 1413 Msasani Penninsula


13.
COMPANY NAME: Njake Hotels Ltd

Shareholders and Directors: Japhet Laiyandumi Lea, Anna Japhet Lema, Abel Japhet Lema, Derick Japhet Lema and Bernard Japhet Lema

Related Company: Noble Azania Investments

Office Location: Block 27 Plot No. 61-61 Bibi Titi Road

Residence Address: Plot No. 1413 Msasani Penninsula


14.
COMPANY NAME: Money Planners and Consultants Ltd

Shareholders and Directors: Jeetu Patel, Devendrabhai Patel, Metul Patel, Bharat Patel Vimal Mehta

Related Company: Noble Azania Investments

Office Location: Block 27 Plot No. 61-61 Bibi Titi Road

Residence Address: Plot No. 1413 Msasani Penninsula


15.
COMPANY NAME: Excellent Services Ltd

Shareholders and Directors: Jeetu Patel, Devendrabhai Patel, Metul Patel, Bharat Patel Vimal Mehta

Related Company: Noble Azania Investments

Office Location: Block 27 Plot No. 61-61 Bibi Titi Road

Residence Address: Plot No. 1413 Msasani Penninsula


16.
COMPANY NAME: Mibale Farms Ltd

Shareholders and Directors: Jeetu Patel, Devendrabhai Patel, Metul Patel, Bharat Patel Vimal Mehta

Related Company: Noble Azania Investments

Office Location: Block 27 Plot No. 61-61 Bibi Titi Road

Residence Address: Plot No. 1413 Msasani Penninsula


17.
COMPANY NAME: Liquidity Services Ltd

Shareholders and Directors: Johnson Lukaza and Maregesi

Related Company: Proin Properties/Kernel

Office Location: Plot 73 Kinondoni Road

Residence Address: ?


18.
COMPANY NAME: Meregesi Law Chambers

Shareholders and Directors: Johnson Lukaza and Maregesi

Related Company: Proin Properties/Kernel

Office Location: Plot 73 Kinondoni Road

Residence Address: ?


19.
COMPANY NAME: Clayton Marketing Ltd

Shareholders and Directors: Johnson Lukaza and Maregesi

Related Company: Proin Properties/Kernel

Office Location: Plot 73 Kinondoni Road

Residence Address: ?


20.
COMPANY NAME: M/s Rashtas Ltd

Shareholders and Directors: Johnson Lukaza and Maregesi

Related Company: Proin Properties/Kernel

Office Location: Plot 73 Kinondoni Road

Residence Address: ?



21.
COMPANY NAME: Kiloloma and Brothers

Shareholders and Directors: Johnson Lukaza and Maregesi

Related Company: Proin Properties/Kernel

Office Location: Plot 73 Kinondoni Road

Residence Address: ?


22.
COMPANY NAME: Kiloloma and Brothers

Shareholders and Directors: Johnson Lukaza and Maregesi

Related Company: Proin Properties/Kernel

Office Location: Plot 73 Kinondoni Road

Residence Address: ?


23.
COMPANY NAME: G & T International

Shareholders and Directors: Johnson Lukaza and Maregesi

Related Company: Proin Properties/Kernel

Office Location: Plot 73 Kinondoni Road

Residence Address: ?


24.
COMPANY NAME: Kernel Ltd

Shareholders and Directors: Johnson Lukaza and Maregesi

Related Company: Proin Properties/Kernel

Office Location: Plot 73 Kinondoni Road

Residence Address: ?


25.
COMPANY NAME: Proin Estate Agents

Shareholders and Directors: Johnson Lukaza and Maregesi

Related Company: Proin Properties/Kernel

Office Location: Plot 73 Kinondoni Road

Residence Address: ?


26.
COMPANY NAME: Changanyikeni Residential Complex

Shareholders and Directors: Samson Mapunda & Jason Van De Merwe

Related Company: Samson Mapunda/ F.K Law Chambers

Office Location: F.K. Law Chambers - Ocean Road

Residence Address: Plot No. 397 Sinza New Intl. School


27.
COMPANY NAME: Executive Solutions Ltd

Shareholders and Directors: Aggrey Marealle & Duncan Stevens

Related Company: Duncan Stevens/F.K. Law Chambers

Office Location: F.K. Law Chambers - Ocean Road

Residence Address: Ocean Road


28.
COMPANY NAME: Executive Solutions Ltd

Shareholders and Directors: Aggrey Marealle & Duncan Stevens

Related Company: Duncan Stevens/F.K. Law Chambers

Office Location: F.K. Law Chambers - Ocean Road

Residence Address: Ocean Road


29.
COMPANY NAME: Kagoda Agriculture

Shareholders and Directors: Rostam Aziz

Related Company: Caspian Ltd

Office Location: Plot 77, Nyerere Road (Kipawa Industrial Area)

Residence Address: ?
 
Vimal Mehta mwanzilishi wa Bank M, ndiye kinara wa makapuni yote yaliyochotewa pesa RA akiwemo.
 
Lakunda halina ubani
Halafu Bank M matatizo yake yamesababishwa na hao wahindi kuchukuwa mikopo mikubwa (bilioni 618), na kuacha kulipa...

By Alex Malanga

Dar es Salaam — Clients, including shareholders of Bank M, received loans amounting to Sh618 billion, which ultimately saw the once shining financial entity going under.

Bank M, which had operated profitably for nine of the 11 years of its existence in the country, abruptly started facing serious liquidity challenges last year, prompting the Bank of Tanzania (BoT) to put it under its administration last August.

Signs that Bank M would go under started showing early last year whereby as of June 30, 2018, its total loans had surpassed the deposits by 32.7 per cent.

It held Sh422.7 billion in customers' deposits as of June 30, 2018 compared to Sh628.4 billion that it had issued out in loans, advances and overdrafts, its financial statements showed.

As a result, Bank M ended up having more liabilities meaning it was required to pay out more than what it actually could collect from its debtors.

With the failure to honour its obligations through customer payments and withdrawals, some banks and customers started panicking.

And, speaking in Dar es Salaam yesterday, Bank M's statutory manager Sadati Musa said the total loan reached a point where the lender could no longer sustain its operations
 
MMI Steel.. Estim Construction....not sure about Nyanza Road Works.
Who owns Shanta Gold Mine in Chunya?
Kuna watu hawawezekani
Ketan Patel ndiye mwanzilishi wa Shanta Gold Mine. Now listed as a “none executive Director” ni mzaliwa wa Kenya, kasoma Uingereza na ana passport ya huko. Pia ni managing director wa Sea Cliffs and white sands hotel Dar es Salaam.

Mr Patel was a founder of Shanta Mining Company Limited (now a subsidiary of Shanta Gold) in 2001 and is a member of the Audit and Sustainability committees, chairing the Sustainability committee. He has worked extensively in trading organisations in the UK and since 1986 has traded agrocommodities internationally. Mr Patel has extensive commercial interests in Tanzania and is a senior director of Export Holdings (Pty) Ltd and Managing Director of the Sea Cliff and White Sands Hotel in Dar es Salaam.
 
Kuna ile thread ya kuhusu uamuzi wa Mashauri kuwa wa kisiasa hii ingefaa!
Je, uamuzi wa Jaji Rumanyika unathibitisha kuwa Mbowe alikuwa mfungwa wa kisiasa? - JamiiForums

JMushi, pole sana!

Hii inaonyesha umakini wetu ulivyo. Na aliyoweka hapo juu unayemjibu na wengine wengi waliochangia kivyao nje ya mada, inaonyesha ni kiasi gani cha umakini tulicho nacho waTanzania.

Mada iliyopo hapa kama ilivyowasilishwa nadhani inatuwia ngumu kuielewa wengi wetu pamoja na umhimu mkubwa iinaoubeba.

Mimi nimeisoma kwa taabu sana, kwa sababu sio eneo nililonalo uzoefu; kwa mfano, jinsi ya ujanja wa "Ununuzi wa Deni" la taifa kuwa kilio chetu!
Lakini pamoja na ugumu wa kuisoma taarifa hii, najikuta mwili ukisisimka jinsi tulivyoingizwa chakana na hawa wajanja. Najikuta najiuliza, je huko serikalini hapakuwa na wajuvi wa mambo haya?

Halafu, leo akina Lissu wanaitwa "wasaliti"; kweli kuna usaliti wa kuzidi haya yanayoelezewa kwenye taarifa hii? Tumetoka EPA, tumeingia Richmond na maEscrow! Hawa "wazalendo" wetu wa CCM, ndio tuwategemee kwa haya yanayoendelea kuibuka kila kukicha?

Inasikitisha sana.

Ngoja nikaisome tena hii taarifa mara ya pili, labda nitapata uelewa mpana zaidi.
 
Kampuni zote zinazotajwa kuhusika na EPA, CCM kwa namna moja ama nyingine ilifaidika sana na biashara zao na ndio waliokuwa wakiandikiwa barua CCM ilipohitaji michango. Ni kwa sababu kama hizi, CCM ilipinga sana ujio wa vyama vingi na walitumia kila hila kuzuia mageuzi hadi pale baba wa taifa, Julius Kambarage Nyerere, alipoingilia kati kwa kuonya kuwa mageuzi hayazuiliki.

Hizi nguvu zinazotumika kuturudisha tulikotoka, sababu kubwa ni kuzuia ufukuaji wa makaburi chama kingine kikishinda uchaguzi na kuunda serikali. Wako tayari kutesa, kuteka na hata kuua ili kulinda uovu wao ambao umekuwa kama sera na sehemu ya maisha yao. Kwa kujimilikisha hatma ya taifa hili, hawaoni hasara wanaoishababishia taifa hili wakiamini wanavyovitafuna ni vya kwao.
 
Mkuu usipite bandiko hata moja kwasababu ni mtiririko mmoja! Ni kama unasoma novel hivi. But it’s real!
 
Kwa mfano nilijiuliza sana kuhusu kitendo cha RA! Halafu kama siyo kumdaka mdogo wake yule Akram, basi wasingempata. Sasa sijui wana makubaliano gani? Maana hakuna mahali king maker hayumo! Hata hii Bank M mzizi wake ni ufisadi! Hata hivi ilivyofilisika ni baada ya wao kuchukuwa mkopo wa zaidi ya bilioni 600 na kushindwa kulipa.

Kama ulivyosema, nakubaliana na wewe kabisa kuwa wasiwasi mkubwa wa ccm ni kuwa held accountable!

Halafu wanaleta cheap politics, mara sijui chadema ni mafisadi! Daah!
 
Mkuu Kalamu1 , utaratibu wa kununuwa madeni upo. Ebu kwa kuanzia, tizama hii tafsiri rahisi kutoka Investopedia...

DEFINITION of Debt Buyer. A debt buyer is a company that purchases debt from creditors at a discount. Debt buyers, such as a collection agencies or a private debt collection law firm, buys delinquent or charged-off debt at a fraction of the debt's face value.Jan 23, 2018

Debt buyers make money by acquiring debts cheaply, and then trying to collect from the debtors. Even if the debt buyercollects only a fraction of the amount owed on a debt it buys—say, two or three times what it paid for the debt—it still makes a significant profit.
 
Mkuu Kalamu1 , nia ya kununua madeni ni kutengeneza profit, na kwa madai yao, pesa hizo walisema zitatumika kwenye miradi mbali mbali waliyoiorodhesha! Mfano mashamba na makampuni. Hata Rostam Aziz alifunguwa kampuni ya kilimo iliyoitwa Kagoda.

Pesa hizo zilikuwa zimetengwa kwa akili ya kulipa madeni ya nje kama sikosei! Kwahiyo hayo makampuni na hao watu walichota hizo pesa kwa kigezo cha kununua madeni!

Ni kamba tu na utapeli wa kuzichota pesa za walipa kodi(ambapo kuna wakati eti walithubutu kusema pesa za EPA si za wananchi)

Mkuu ni bora hata wangewekeza kwa wananchi basi. Sasa bank M hizo pesa waliziweka humo zilipotolewa. Hata ule utaratibu wa Jk wa kusema zirudishwe sijui utaratibu wake umefikia wapi.
 
Kalamu1, ni kweli wengine tunachombeza tu lakini tupo na tunafuatilia sana ila kuna kitu nakuomba usikisahau, brains behind all this plunder ni Watanzania wenzetu. Majina ya Watanzania hao huwezi kuyakuta katika orodha ama ya wamiliki au ya wenye hisa lakini ni wanufaika wakubwa katika biashara hizi kupitia kivuli cha CCM. Baada ya mfumo wa vyama vingi kuanzishwa rasmi 1992 kama kuna kauli ya viongozi wa CCM ambayo haijabadilika ni hii, CCM itatawala milele! Tuendelee kufuatilia...
 
Hata huyo jamaa watazuga tu watavuta mkwanja, watu watalishwa pilau, watapiga Makofi na vigelegele!

Hiyo benki ilifunguliwa kama kanyaboya tu. Lakini hao wahindi na huyu aliyekamatwa, wameendelea kuchukuwa mikopo ambayo hawakuitumia benki kama ilivyokuwa nia ya kuombea mkopo.

Dar es Salaam. The former CEO of Bank M (Tanzania), Mr Sanjeev Kumar Purushothaman, 63, appeared before the Kisutu Resident Magistrate’s Court yesterday facing 29 counts of money laundering, forgery and obtaining cash through false pretence amounting to Sh6 billion.

Reading the charge sheet before Senior Resident Magistrate Huruma Shaidi, senior state attorney Paul Kadushi, who was being assisted by Mr Wankyo Simoni, said the accused, popularly known as P Sanjeev Kumar, stands accused of 29 counts under Criminal Case Number 73 of 2019.

It was claimed in court that on March 10, 2010 in Dar es Salaam, Mr Kumar, an Indian national, forged documents which were then submitted to Bank M purporting that he be paid $15,000 as payment for business operations.

On counts three to 16, the accused is alleged to have obtained a total of Sh6 billion on the pretext that the money was meant for Bank M’s operations.

It was alleged that between January 8 and June 30, 2015, the accused obtained cash amounting to Sh1.107 billion, claiming that the money was meant for Bank M’s business operations.

Similarly, he is alleged to have obtained Sh793 million between January 3 and June 28, 2014, alleging that the money was for Bank M’s operations. Between July 4, 2013 and December 23, 2013, the accused is alleged to have obtained Sh686.855 million on false pretences.
In line with the obtained cash, the state charged in court yesterday that under charges 17 and 29, P Sanjeev Kumar is alleged to have laundered a total of Sh6 billion, while knowing that the money was acquired through false pretences.
The accused, through lawyers Husdon Ndusyepo and Benedict Ishabakaki, denied the charges. They asked the court to send their client to a remand prison where his relatives will find it easy to visit him. They also said the accused was diabetic.


Senior state attorney Kadushi told the court that investigations into the case were still ongoing and since medical services were being offered to all inmates, the defendant’s side had nothing to worry about.

The Senior Resident Magistrate said under Tanzania’s laws, money laundering cases are not bailable. The accused was thus remanded until March 21 this year when the case comes up for mention.

The charging of Mr Kumar comes barely two months after the Bank of Tanzania (BoT) transferred assets and liabilities of Bank M to Azania Bank.

That came several months after the BoT took over the management of the bank, in August, 2018, saying it had critical liquidity problems and was unable to meet its financial obligations.
 
Hakika kunahitajika uthubutu na utashi wa kisiasa wa viongozi kuyageuza majabali ya uchumi katika nchi tegemezi.

Ila ukweli unaojidhirisha, katika Awamu hii ya Utawala, hakuna jiwe ambalo litaachwa jinsi lilivyo, lazima litageuzwa au kuchimbuliwa kuona kilichofunikwa.


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Pale inaposemwa hadharani nchi hii ni tajiri, au kuna watu wataonja maisha ya kishetani, sasa semi hizi zinadhihirika kuwa na mashiko.

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