news in

Wednesday January 13, 2016

Brief

2016 FINANCIAL TRENDS

TANZANIA SHILLING
2016 performance forecast.....

VACANCIES
OUR CONTACTS
KCBBankTz
KCBBankTz
@kcbbanktz

www.kcbbankgroup.com

2016 Financial Trends expected in Tanzania

Economic Outlook
GDP

Following a challenging 2015 economic conditions, Tanzania is set to improve modestly

over the coming quarters with real GDP growth climbing to above 6.0% in 2016 from an
estimated average of 5.7% in 2015.

Godfrey Ndalahwa
Head of Finance.

INFLATION OUTLOOK

He joined the bank in May 2013 as head

of finance and later on in April 2015, was
appointed as Non-Executive Director for KCB
Burundi. He previously worked for Barclays
and NBC Limited holding different executive
roles in the area of internal audit, strategy
and financial management. Prior to join the
Banking Industry, He worked for Deloitte and
Coca-Cola Sabco.

Short-Term Outlook (Three-To-Six Months)

Godfrey is certified public accountant

and holds Bachelor of honors Degree in
Commerce from University of Dar es Salaam
and has attended various courses including
a one year leadership Programme from
University of Pretoria.

Inflation has consistently been above the Bank of Tanzanias (BoT) 5% target over the past
decade (averaging over 9 .0%) and we expect this trend to continue over the coming years.
Inflation set to range between 6 .0 and 8 .0% over the coming months. Despite the shillings
heavy sell-off and associated inflation pass through, inflation has been contained thanks to
favorable food and fuel prices. These benign price conditions are set to continue through
in 2016.

Having sold off aggressively through Half 1, 2015, the Tanzanian shilling (TZS) has stabilized
against the dollar over the past 5-6 months, even firming of late. External dynamics,
notably a strong USD and related shifts in investor perceptions towards Emerging Markets
currencies, have been the dictating factor in the shillings performance over recent quarters
and this trend will remain in place over the coming three-to-six months. Fellow East African
currencies such as Kenya and Uganda, for instance, have exhibited similar stability over this
period. With the USD rally now mostly spent pressures on the shilling will lighten and augur
a far more modest pace of TZS depreciation over the coming 12 months or so. We forecast
average deprecation of around 12% in 2016 compared to 23% in 20 15.

Long-Term Outlook (Six-To-24 Months)

Weak balance of payments dynamics and uncertainty in the energy sector will drive further
shilling depreciation over the next couple of years. External imbalances arising from a
shortage of domestic productive capacity are reflected in Tanzanias g aping trade in goods
deficit and this will ensure that the countrys current account balance remains deep in the
red - at the equivalent of between 9 .0% and 11.0% of GDP - over the next two years
and these imbalances will remain the key pressure point for the shilling over the mediumterm. Tanzania will continue run a large structural deficit for the duration of our 2015-2019
forecast period. The latest data from the Bank of Tanzania confirm that in the year through
September 2015, the current account deficit narrowed by 14% to USD4 .2bn thanks to a
jump in exports and a sharp deceleration in imports.

www.kcbbankgroup.com

Banking Sector Risk Components

Asset Quality

Tanzanias banking sector remains in relatively good health. Asset quality has continued
to improve in recent quarters, as illustrated by the ratio of nonperforming loans (NPLs) to
total loans. The latter decreased from 8 .5% in September 2014 to 6 .5% in March 2015,
reflecting write downs and efforts made by banks to recover NPLs. Overall the sector
benefits from relatively healthy asset quality which should continue to benefit from a robust
economic outlook.

Funding Structure

The Tanzanian banking sectors funding structure is relatively strong. The sectors loan-todeposit ratio sat at 78% in 20 15 which though higher than its five year average of 69%,
remains comfortable. This implies that Tanzanias banks are predominantly domestically
funded, less reliant on external financing, and thus less exposed to external shocks.

Capital Adequacy

The banking sector also has robust levels of capital adequacy, with capital above regulatory
requirements. Capital as a percent of total assets remains in line with Tanzanias long -term
average, coming in at 12.6% in December 2014 compared to an average of 12.0% of
assets since 2009. We do not see scope for a significant increase in leverage over the
coming quarters, as tighter monetary conditions and economic uncertainty cause lenders
to remain relatively risk averse. Meanwhile efforts to improve banking sector supervision are
likely to ensure that banks average capital ratios remain strong in the coming years.

Regulatory Body Assessment

The Tanzanian banking authorities continue to strengthen financial sector supervision to

ensure financial stability and soundness. These efforts have been stepped up following
investigations by US authorities into Tanzania headquartered FBME Bank - the countrys
largest by asset size albeit with most of its operations based in Cyprus - which was labeled
as of primary laundering concern. In light of these developments, the BoT is developing
its supervision framework, issuing consolidation supervision regulations and issuing
memorandum of understandings with other foreign regulators and central banks.

www.kcbbankgroup.com

USD/TZS Forecast 2016

During 2015, USDTZS traded at the level of 1674 to 2160 which is almost 30% drop of its
value. This drop was contributed by many factors such as decrease of exports, increase
of importation of necessity goods, perceived political instability during general election, and
decrease of donor funds etc.

The Tanzania Shilling is expected to trade at 2180.00 by the end of this quarter, according
to Trading Economics global macro models and analysts expectations. Looking forward,
we estimate it to trade at 2266.00 in 12 months time.

Interest Rate Forecast 2016

Interest Rate in Tanzania is expected to be 12.00 percent by the end of this quarter,
according to Trading Economics global macro models and analysts expectations. Looking
forward, we estimate Interest Rate in Tanzania to stand at 12.00 in 12 months time. In the
long-term, the Tanzania Interest Rate is projected to trend around 12.00 percent in 2020,
according to our econometric models.

Treasury bill Rate Trend

Government still borrowing from commercial banks which will push rate up as per below
graph.

www.kcbbankgroup.com

Paschal Machango
Head of Treasury.
He joined the bank in April 2005 as the
Treasury Bank office manager at KCB.
He previously worked with Stanbic Bank,
Standard chartered Bank and Diamond Trust
bank for more than 5 years.
He has a B`COM accounting Degree from
the University of Dar es Salaam in Tanzania
and MBA Finance from Open University on
Tanzania. He has attended various advanced
courses and workshops in banking and
finance. He has over 15 years experience in
Banking industries holding various positions.

Weekly Foreign Exchange Forecast 8th 15th January, 2015

USD/TZS

The Tanzanian shilling will continue to depreciate in a few days to come against the green
back as the demand for dollar keeps on steadily increasing since last month. The shilling
has depreciated by almost 30 shillings from the opening USD/TZS mid-rate of 2160.00 to
close at USD/TZS level of 2188.00 mid-rates on Thursday.

USD/KES

Fundamentals point a weaker Kenya shilling in 2016 with the Central Bank of Kenya (CBK)
being the main driver of its performance, according to economic experts.
The depreciation of the shilling in 2016 is attributed to the weakening China economy,
higher inflation an anticipated rise in oil prices.
The shilling opened the year 2015 at Sh90.5 against Sh90.6 to the US dollar; it touched
a high of Sh106.1 against Sh106.2 and closed the year at Sh102.25 against Sh102.35
to the dollar.

GBP/USD

The pound fell to the weakest level since June 2010 as Chancellor of the Exchequer
George Osborne prepares to say a dangerous cocktail of global threats faces the British
economy this year.
Sterling dropped 0.4 percent to $1.4575 at 9:04 a.m. London time and touched $1.4561.
The U.K. currency slid 0.8 percent to 74.26 pence per euro.

EUR/USD

Currently, the EUR/USD pair trades 0.44% lower at 1.0884, recovering slightly from fresh
session lows of 1.0873 struck near the hourly at 1.0879. The main currency pair halts a
2-day rally and sees steep losses this session as the demand for safe-havens such as the
euro was hit on the back risk-on relief rally seen in Chinas stock markets.

www.kcbbankgroup.com

Vacancies
Position: Project Manager
Reporting to: Head of OPS/IT
Location: Dar es Salaam
Job level: MLC
Job Purpose
Successful delivery of Projects in order to support the strategic and operational objectives
of the Bank. This includes development of policies, procedures, and plans necessary to
ensure efficient and effective execution of projects and change requests.
Key Responsibilities:
Ensure that all projects are delivered within the required specification i.e. in time, cost
and quality etc.
Develop and maintain a centralized project management framework and all necessary
processes and templates for successful project management.
Develop a framework for efficient and cost effective utilisation of project resources.
Work with the business to scope and plan projects requiring involvement of various
units so as to recommend resources, timelines and deliverables.
Prioritize and track all Projects and Change Requests to ensure successful delivery.
Provide centralized control, coordination, and reporting of scope, change, cost, risk,
and quality across all projects;
Prepare accurate forecasts of project costs, timelines and resource requirements.
Recognize potential risks and proactively propose appropriate solutions to meet
business objectives based on industry best practices. Escalate project risks to the
key stakeholders as necessary.
Ensure that project initiatives are aligned to the strategic direction of the bank.
Qualification and Experience Required
In order to be considered for the above position, all applicants should have: Bachelors Degree in fields of Business/Social Sciences/Engineering fields or related
disciplines from a recognized University/Institution.
Professional Qualifications i.e. Masters Degree in Project Management/Business
related field and Professional Certification i.e. Six Sigma Certification or Project
management/planning/process management are desired.
A minimum of 2 years experience in Project Management, General Banking Operations
and Process Quality Assurance.

www.kcbbankgroup.com

How to apply
If you meet the conditions and requirements
for the above positions, you are encouraged
to forward your CV by 15th January, 2016.
Applications should be submitted
electronically to

kcbjobs@tz.kcbbankgroup.com.

Vacancies
Position: Central Reconciliation Supervisor
Reporting to: Senior Manager, Centralised Operations
Location: Dar es Salaam
Job level: Section Head
Job Purpose
The role has a direct responsibility of ensuring that all the banks Agency and Suspense
accounts are reconciled in line with existing guidelines on reconciliation.
Key Responsibilities
Reconcile and follow up for action on outstanding items in suspense accounts
Ensure that all transactions in the banks suspense accounts are properly aged,
and any items that are non-compliant are specifically raised with the concerned
department/Branch
Reconcile and take action on items outstanding in Nostro, Vostro, & BOT accounts
Confirm that all transactions involving the In-Transit account are reversed on a daily
basis
Consolidate all suspense account returns ready for submission to Group Central
Reconciliation Centre
Reconciliation of Western Union, and MoneyGram agency accounts
Reconciliation of clearing accounts
Ensure that the age profile for all suspense transactions is as per set guidelines
Mitigate all risks that may arise from suspense and Nostro & Vostro accounts
First contact for all reconciliation matters from the branches, Head office and Group
Shared Services
Custodian of new ATM cards, bankers cheque and Cheque books ordered
Qualification and Experience Required
In order to be considered for the above position, you should have:
University Degree preferably in Business Managements or any other Business related
fields
Professional Qualification in CPB/CPA/ACCA and Masters Degree in Business related
fields is an added advantage.
Two years experience in Bank Operations and Reconciliation

www.kcbbankgroup.com

How to apply
If you meet the conditions and requirements
for the above positions, you are encouraged
to forward your CV by 15th January, 2016.
Applications should be submitted
electronically to

kcbjobs@tz.kcbbankgroup.com.

Arusha

TFA branch.

Now open.

www.kcbbankgroup.com

Vacancies
Position: Reconciliation Officer
Reporting to: Central Reconciliation Supervisor
Location: Dar es Salaam
Job level: Bank Officer
Job Purpose
The role has a direct responsibility of ensuring that all the banks Agency and Suspense
accounts are reconciled in line with existing guidelines on reconciliation.
Key Responsibilities
Ensure all assigned Nostro accounts are reconciled on daily basis with proper details
of all outstanding transaction narrated.
Conduct a periodic reconciliation of assigned GL suspense and ensure proper details
are narrated for outstanding entries.
Follow up on timely clearance of outstanding transactions within 7 days.
Ensure reconciliation statements are countersigned by supervisors.
Produce periodical reports to the management on status of reconciliations.
Verify the genuineness of outstanding transactions by requesting copies of vouchers
of relative large amounts.
Monitor movements for assigned GL suspense accounts and request clarifications
from originator of transaction.
Maintenance of Bank assets register for assigned categories and ensuring balances
agree with GL.
Any other duties that may be assigned from time to time by your supervisor.
Qualification and Experience Required
In order to be considered for the above position, you should have:
University Degree/Diploma preferably in Business Management or any Business
related fields
Professional Qualification in CPB/CPA/ACCA, Masters Degree in Business related
field is an added advantage.
One years experience in Bank Operations and Reconciliation

www.kcbbankgroup.com

How to apply
If you meet the conditions and requirements
for the above positions, you are encouraged
to forward your CV by 15th January, 2016.
Applications should be submitted
electronically to

kcbjobs@tz.kcbbankgroup.com.

Vacancies
Position: Records Management Supervisor
Reporting to: Facilities & Administrations Manager
Location: Dar es Salaam
Job level: Section Head
Job Purpose
Management of Banks records effectively and appropriately, from their creation through to
their eventual disposal.
Key Responsibilities
Store, arrange, index and classify records at the banks central archive;
Facilitate the development of filing systems, and maintaining these to meet
administrative, legal and financial requirements;
Devise and ensuring the implementation of retention and disposal schedules;
Oversee the management of paper-based information;
Support in designing, setting up, maintaining, reviewing and documenting records
systems;
Advise on and implementing new records management policies and classification
systems;
Ensure compliance with relevant legislation and regulations;
Enable appropriate access to records/information at the central archive;
Respond to internal and/or external information enquiries;
Advise staff in other departments on the management of their records and information
General clerical duties on records management e.g. photocopying etc
Qualification and Experience Required
In order to be considered for the above position, you should have:
Bachelors Degree in Records management/Archiologist/ Librarian or Business related
fields from a recognized University/Institution.
Masters Degree in Business related fields and Membership at any recognized records
management board is an added Advantage
A minimum of 2 years experience in records Management, Bank Operations and
General administration.

www.kcbbankgroup.com

How to apply
If you meet the conditions and requirements
for the above positions, you are encouraged
to forward your CV by 15th January, 2016.
Applications should be submitted
electronically to

kcbjobs@tz.kcbbankgroup.com.

Did you
know?

We are on Facebook, Instagram and Twitter.

KCBBankTz
KCBBankTz
@kcbbanktz
And you can talk to us for FREE on 0800 780 071 / 0764 030 500
or mail us via customercare@tz.kcbbankgroup.com

www.kcbbankgroup.com

Vacancies
Position: Records Management Officer
Reporting to: Records Management Supervisor
Location: Dar es Salaam
Job level: Bank Officer
Job Purpose
Management of Banks records effectively and appropriately, from their creation through to
their eventual disposal.
Key Responsibilities
Store, arrange, index and classify records at the banks central archive;
Ensure the implementation of retention and disposal schedules;
Implement new records management policies and classification systems;
Ensure compliance with relevant legislation and regulations;
Enable appropriate access to records/information at the central archive;
Respond to internal and/or external information enquiries;
Advise staff in other departments on the management of their records and information
Assist in distribution of stationeries and other office supplies
Assist in courier and documents handling for head office
General clerical duties on records management e.g. photocopying.
Qualification and Experience Required
In order to be considered for the above position, you should have:
Bachelors Degree/Diploma in Records management/Archiologist/Librarian or
Business related fields from a recognized University/Institution.
Masters Degree in Business related fields and Membership at any recognized records
management board is an added Advantage
Experience in records Management, Bank Operations and General administration is
an added advantage.

Yours Sincerely,
Joyce Mwashigadi
HEAD OF HUMAN RESOURCES

www.kcbbankgroup.com

How to apply
If you meet the conditions and requirements
for the above positions, you are encouraged
to forward your CV by 15th January, 2016.
Applications should be submitted
electronically to

kcbjobs@tz.kcbbankgroup.com.

KCB hotlines
Head Office

Harambee Plaza Ali Hassana Mwinyi / Kaunda Drive Junction

P O. Box 804 Dar es Salaam, Tanzania
Tel: +255 22 2160000 / 2199100
Email: customercare@tz.kcbbankgroup.com | Website: www.kcbbankgroup.com

Branch Network
Dar es Salaam Branches
Oysterbay Branch
P O. Box 804, Dar es Salaam
Ali Hassan Mwinyi / Kaunda Drive Junction
Email: kcboysterbay@tz.kcbbankgroup.com
Phone: +255 22 2664340

Pugu Branch
P O. Box 40574, Dar es Salaam
Nyerere Road
Phone: +255 22 2160523

Samora Branch
P O. Box 804, Dar es Salaam
Samora Avenue / Ohio Street
Email: kcbsamora@tz.kcbbankgroup.com
Phone: +255 22 2160304

Upcountry Branches
Mwanza Branch
P O. Box 130, Mwanza
Kenyatta Road / Nyanza Road
Email: kcbmwanza@tz.kcbbankgroup.com
Phone: +255 22 2160425

Mlimani Branch
P O. Box 804, Dar es Salaam
Mlimani City Mall
Email: kcbmlimani@tz.kcbbankgroup.com
Phone: +255 22 2160410

Arusha Branch
P O. Box 3053, Arusha
Joel Maeda Street / Victoria Building
Email: kcbarusha@tz.kcbbankgroup.com
Phone: +255 22 2160446

Msimbazi Branch
P O. Box 16086, Dar es Salaam
Msimbazi / Narungombe Street
Email: kcbmsimbazi@tz.kcbbankgroup.com
Phone: +255 22 2160367

TFA Arusha Branch

P O. Box 12225, Arusha
TFA Arusha Shopping Centre
Phone: +255 22 2160543

Uhuru Branch
P O. Box 16666, Dar es Salaam
Uhuru / Livingstone Street
Email: kcbuhuru@tz.kcbbankgroup.com
Phone: +255 22 2160345

Morogoro Branch
P O. Box 700, Morogoro
Boma Road
Email: kcbmorogoro@tz.kcbbankgroup.
com
Phone: +255 22 2160483

Buguruni Branch
P O. Box 804, Dar es Salaam
Uhuru / Nelson Mandela Road
Email: kcbbuguruni@tz.kcbbankgroup.com
Phone: +255 22 2160384

Moshi Branch
P O. Box 579, Moshi
TFA Building, Boma Road
Email: kcbmoshi@tz.kcbbankgroup.com
Phone: +255 22 2160463

Lumumba Branch
P O. Box 804, Dar es Salaam
Lumumba Street
Email: customercare@tz.kcbbankgroup.com
Phone: +255 22 2160324

Stone Town
P O. Box 3897, Zanzibar
Malindi, Cine Afrique Building
Email: kcbstown@tz.kcbbankgroup.com
Phone: +255 22 2160515

www.kcbbankgroup.com