Battle: Dar es Salaam vs Nairobi

4.We have two biggest ships in East and Central Africa, Mv Mwanza (u/c) which will be the biggest ship in East and Central Africa and the current biggest ship in East and Central Africa called New Victoria Hapa Kazi Tu [emoji116][emoji116][emoji1787][emoji1787][emoji1787]
 
5. Modern public transport in East and Central Africa, hii nayo kuna haja ya kuongelea kweli jamani [emoji116][emoji116][emoji1787][emoji1787][emoji1787]
 
6. Utake usitake three level interchange pekee East and Central Africa ni hii hapa zingine za kuunga unga, Yani mnalazimisha road ipite sehemu fulani ili Muite three level mkawalingishie Watz kwamba na nyie mnayo [emoji116][emoji116][emoji1787][emoji1787][emoji1787][emoji1787]
 
Yani ndani yake kuna sub structures nyingi sana kama MSE walls,viaduct ndani yake tena kuna stayed cable bridge, over passes, under passes,tannels just to mention a few and all well design and finished.
 
coodip1 said:
Was there a need ya hayo maneno "nothing out of this world" ukitoa compliment toa kwa moyo mmoja tuu.
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Nimesema hivo sababu umeipost na Nia ya kukejeli ya kwetu. Yani ulipost kiushindani. Ungesema tu 'munaonaje hii control center yetu' singeongeza hayo maneno.
 
REAL Comrade Kipepe said:
I am tempted to think that, out of every (10) ten Kenyans, (9) nine are potentially stupid.

How do you grow a competitive senior teams without promoting the young ones?
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Aisee Under 17 nikitu ya kusherehekea kweli. Mbona tulishinda U16 ya Africa na hatukujigamba. Juzi tumeshinda volleyball club cup ya Africa na tumetulia. Wacheni Kuhype mediocrity,
 
Geza Ulole said:
Hii si sawa lazma waeleze hayo makubaliano!
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Ni sawa tuu kwani Kuna shida gani? Kwanza ni upuuzi Kwa serikali kuachia ccm wanakusanya mapato peke yao..

Kwani wakiweka pesa na wakawa wabia wa kuendesha hivyo viwanja kuna shida gani ikizingatiwa wanataka ku host AFCON 2027..

Mda wa kujenga viwanja 3 ndani ya miaka 3 au 4 kabla ya Mashindano sidhani kama unatosha .
 
Sasa uliposema sio sawa ulikuwa unamaanisha nini?

Mimi naunga mkono kwa sababu cvm wenyewe wameshindwa kuviendeleza hivi viwanja, serikali ikiongia ni sawa kabisa.
 

ARM Tanzania assets sale raises Sh40 billion surplus​

THURSDAY JUNE 02 2022​




An ARM Cement plant. FILE PHOTO | NMG

Summary​

  • The amount was more than enough to settle all the claims totalling Sh17.4 billion due to Maweni’s creditors including Sh1.76 million which was due to the Tanzanian Revenue Authority.


By Business Daily Africa
More by this Author

The sale of ARM Cement’s assets in Tanzania raised funds that paid all the claims of creditors in that market and left a surplus of Sh40.6 billion that was transferred to Kenya.

In Kenya, the funds were used in paying liabilities such as amounts owed to banks and investors in the firm’s commercial paper.

The firm’s Tanzanian subsidiary, Maweni Limestone Ltd, was sold by the administrators PricewaterhouseCoopers (PwC) to Chinese firm Huaxin Cement for Sh238 billion.

The amount was more than enough to settle all the claims totalling Sh17.4 billion due to Maweni’s creditors including Sh1.76 million which was due to the Tanzanian Revenue Authority.

“Over $20 million (Sh46 billion) was transferred to Kenya and added to the Kenya proceeds to pay creditors,” the administrators told Business Daily.

The Kenyan assets were sold to National Cement Company, owned by billionaire businessman Narendra Raval for Sh100 billion.


Despite the surplus cash from Maweni, Kenyan creditors suffered substantial losses in the liquidation of the cement manufacturer.

Lenders and unsecured creditors lost Sh230 billion in the process while shareholders were completely wiped out.

Unsecured creditors, who laid an aggregate claim of Sh180 billion on the firm, took the biggest haircut after only recovering 6.2 percent of this amount. Secured lenders — mainly banks such as Absa Bank Kenya and UBA Bank Kenya — were paid Sh99 billion out of their claims totalling Sh160 billion.

Preferential creditors, which have priority in being paid in bankruptcies, were compensated in full at Sh6.5billion.

The cement firm’s debacle demonstrates the risks of sitting at the bottom of the payment waterfall where a creditor is only compensated after claims from others higher up in the hierarchy have been settled.

The biggest unsecured lenders included holders of ARM’s commercial paper and bonds worth Sh1.82 billion, private lender Aerous at Sh30 billion and Stanbic Bank at Sh20billion. The cement maker’s former employees were also owed salary arrears worth Sh600 million.

ARM’s financial difficulties saw it placed in administration in August 2018 after failing to service bank loans as losses piled up and ate into its capital, with the principal shareholders including the Paunrana family and UK’s sovereign wealth fund CDC Group failing to inject new capital to ease the problem.

It had racked up Sh280 billion in debt and had negative equity of Sh40.8 billion at the time.

The move into administration ushered out its long-serving chief executive Pradeep Paunrana, whose family founded the company in 1974.

vjuma@ke.nationmedia.com


ARM Tanzania assets sale raises Sh40 billion surplus

Maweni Limestone Ltd, was sold by the administrators PricewaterhouseCoopers (PwC) to Chinese firm Huaxin Cement for Sh238 billion.
www.thecitizen.co.tz

Tony254 Hivi kuna kampuni hata moja kutoka kwenu ishawahi ku-survive competition Tanzania?
 
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