kcb newsletter issue 2

7/25/2019 KCB NewsLetter Issue 2

1/13

Briefnews in

WednesdayJanuary13,

2016

www.kcbbankgroup.com

2016 FINANCIAL TRENDS

TANZANIA SHILLING2016 performance forecast.....

VACANCIES

OUR CONTACTS

KCBBankTz

KCBBankTz

@kcbbanktz


2/13

2016 Financial Trends expected in Tanzania

Economic Outlook

GDPFollowing a challenging 2015 economic conditions, Tanzania is set to improve modestlyover the coming quarters with real GDP growth climbing to above 6.0% in 2016 from anestimated average of 5.7% in 2015.

INFLATION OUTLOOKInflation has consistently been above the Bank of Tanzanias (BoT) 5% target over the pastdecade (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 shillingsheavy sell-off and associated inflation pass through, inflation has been contained thanks tofavorable food and fuel prices. These benign price conditions are set to continue throughin 2016.

Short-Term Outlook (Three-To-Six Months)Having sold off aggressively through Half 1, 2015, the Tanzanian shilling (TZS) has stabilizedagainst 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 Marketscurrencies, have been the dictating factor in the shillings performance over recent quartersand this trend will remain in place over the coming three-to-six months. Fellow East Africancurrencies 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 augura far more modest pace of TZS depreciation over the coming 12 months or so. We forecastaverage 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 furthershilling depreciation over the next couple of years. External imbalances arising from ashortage of domestic productive capacity are reflected in Tanzanias g aping trade in goodsdeficit and this will ensure that the countrys current account balance remains deep in thered - at the equivalent of between 9 .0% and 11.0% of GDP - over the next two yearsand these imbalances will remain the key pressure point for the shilling over the medium-term. Tanzania will continue run a large structural deficit for the duration of our 2015-2019forecast period. The latest data from the Bank of Tanzania confirm that in the year throughSeptember 2015, the current account deficit narrowed by 14% to USD4 .2bn thanks to a

jump in exports and a sharp deceleration in imports.


Godfrey Ndalahwa

Head of Finance.He joined the bank in May 2013 as headof finance and later on in April 2015, wasappointed as Non-Executive Director for KCBBurundi. He previously worked for Barclaysand NBC Limited holding different executive

roles in the area of internal audit, strategyand financial management. Prior to join theBanking Industry, He worked for Deloitte andCoca-Cola Sabco.

Godfrey is certified public accountantand holds Bachelor of honors Degree inCommerce from University of Dar es Salaamand has attended various courses includinga one year leadership Programme fromUniversity of Pretoria.


3/13

Banking Sector Risk Components

Asset QualityTanzanias banking sector remains in relatively good health. Asset quality has continuedto improve in recent quarters, as illustrated by the ratio of nonperforming loans (NPLs) tototal 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 sectorbenefits from relatively healthy asset quality which should continue to benefit from a robusteconomic outlook.

Funding StructureThe Tanzanian banking sectors funding structure is relatively strong. The sectors loan-to-deposit 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 domesticallyfunded, less reliant on external financing, and thus less exposed to external shocks.

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

Regulatory Body AssessmentThe Tanzanian banking authorities continue to strengthen financial sector supervision toensure financial stability and soundness. These efforts have been stepped up followinginvestigations by US authorities into Tanzania headquartered FBME Bank - the countryslargest by asset size albeit with most of its operations based in Cyprus - which was labeledas of primary laundering concern. In light of these developments, the BoT is developingits supervision framework, issuing consolidation supervision regulations and issuingmemorandum of understandings with other foreign regulators and central banks.



4/13

USD/TZS Forecast 2016During 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, increaseof importation of necessity goods, perceived political instability during general election, anddecrease of donor funds etc.

The Tanzania Shilling is expected to trade at 2180.00 by the end of this quarter, accordingto 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 2016Interest 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. Lookingforward, we estimate Interest Rate in Tanzania to stand at 12.00 in 12 months time. In thelong-term, the Tanzania Interest Rate is projected to trend around 12.00 percent in 2020,according to our econometric models.

Treasury bill Rate TrendGovernment still borrowing from commercial banks which will push rate up as per belowgraph.


Paschal Machango

Head of Treasury.

He joined the bank in April 2005 as theTreasury Bank office manager at KCB.He previously worked with Stanbic Bank,Standard chartered Bank and Diamond Trustbank for more than 5 years.

He has a B`COM accounting Degree fromthe University of Dar es Salaam in Tanzaniaand MBA Finance from Open University on

Tanzania. He has attended various advancedcourses and workshops in banking andfinance. He has over 15 years experience inBanking industries holding various positions.


5/13

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

USD/KESFundamentals 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 shil ling opened the year 2015 at Sh90.5 against Sh90.6 to the US dollar; it toucheda high of Sh106.1 against Sh106.2 and closed the year at Sh102.25 against Sh102.35to the dollar.

GBP/USDThe pound fell to the weakest level since June 2010 as Chancellor of the ExchequerGeorge Osborne prepares to say a dangerous cocktail of global threats faces the Britisheconomy 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/USDCurrently, the EUR/USD pair trades 0.44% lower at 1.0884, recovering slightly from freshsession lows of 1.0873 struck near the hourly at 1.0879. The main currency pair halts a2-day rally and sees steep losses this session as the demand for safe-havens such as theeuro was hit on the back risk-on relief rally seen in Chinas stock markets.

Weekly Foreign Exchange Forecast 8th 15th January, 2015



6/13

Position: Project Manager

Reporting to: Head of OPS/IT

Location: Dar es Salaam

Job level: MLC

Job PurposeSuccessful delivery of Projects in order to support the strategic and operational objectivesof 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 thekey stakeholders as necessary.

Ensure that project initiatives are aligned to the strategic direction of the bank.

Qualification and Experience RequiredIn 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 Projectmanagement/planning/process management are desired.

A minimum of 2 years experience in Project Management, General Banking Operationsand Process Quality Assurance.

Vacancies


How to apply

If you meet the conditions and requirementsfor the above positions, you are encouragedto forward your CV by 15th January, 2016.

Applications should be submittedelectronically to

[email protected].


7/13

Position: Central Reconciliation Supervisor

Reporting to:Senior Manager, Centralised Operations

Location:Dar es Salaam

Job level:Section Head

Job PurposeThe role has a direct responsibility of ensuring that al l the banks Agency and Suspenseaccounts 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 concerneddepartment/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 RequiredIn 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

Vacancies


How to apply



[email protected].


8/13

Arusha

TFA branch.

Now open.



9/13

Position: Reconciliation Officer

Reporting to: Central Reconciliation Supervisor


Job level: Bank Officer

Job PurposeThe role has a direct responsibility of ensuring that all the banks Agency and Suspenseaccounts 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 RequiredIn 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

Vacancies


How to apply



[email protected].


10/13

Position: Records Management Supervisor

Reporting to: Facilities & Administrations Manager


Job level: Section Head

Job PurposeManagement of Banks records effectively and appropriately, from their creation through totheir 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 RequiredIn 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.

Vacancies


How to apply



[email protected].


11/13

Did you know?

www.kcbbank rou .com

We are on Facebook, Instagram and Twitter.

And you can talk to us for FREE on0800 780 071 / 0764 030 500

or mail us via [email protected]

KCBBankTz

KCBBankTz

@kcbbanktz


12/13

Position: Records Management Officer

Reporting to: Records Management Supervisor

Location:Dar es Salaam

Job level: Bank Officer

Job PurposeManagement of Banks records effectively and appropriately, from their creation through totheir 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 RequiredIn 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 MwashigadiHEAD OF HUMAN RESOURCES

Vacancies


How to apply



[email protected].


13/13

KCB hotlines


Head OfficeHarambee PlazaAli Hassana Mwinyi / Kaunda Drive JunctionP O. Box 804 Dar es Salaam, TanzaniaTel: +255 22 2160000 / 2199100Email: [email protected] | Website: www.kcbbankgroup.com

Branch Network

Dar es Salaam Branches

Oysterbay BranchP O. Box 804, Dar es SalaamAli Hassan Mwinyi / Kaunda Drive JunctionEmail: [email protected]: +255 22 2664340

Samora BranchP O. Box 804, Dar es SalaamSamora Avenue / Ohio StreetEmail: [email protected]: +255 22 2160304

Mlimani BranchP O. Box 804, Dar es SalaamMlimani City MallEmail: [email protected]: +255 22 2160410

Msimbazi BranchP O. Box 16086, Dar es SalaamMsimbazi / Narungombe StreetEmail: [email protected]: +255 22 2160367

Uhuru BranchP O. Box 16666, Dar es SalaamUhuru / Livingstone StreetEmail: [email protected]: +255 22 2160345

Buguruni BranchP O. Box 804, Dar es SalaamUhuru / Nelson Mandela RoadEmail: [email protected]: +255 22 2160384

Lumumba Branch

P O. Box 804, Dar es SalaamLumumba StreetEmail: [email protected]: +255 22 2160324

Pugu BranchP O. Box 40574, Dar es SalaamNyerere RoadPhone: +255 22 2160523

Upcountry Branches

Mwanza BranchP O. Box 130, MwanzaKenyatta Road / Nyanza RoadEmail: [email protected]: +255 22 2160425

Arusha BranchP O. Box 3053, ArushaJoel Maeda Street / Victoria BuildingEmail: [email protected]: +255 22 2160446

TFA Arusha BranchP O. Box 12225, ArushaTFA Arusha Shopping CentrePhone: +255 22 2160543

Morogoro BranchP O. Box 700, MorogoroBoma RoadEmail: [email protected]: +255 22 2160483

Moshi BranchP O. Box 579, MoshiTFA Building, Boma RoadEmail: [email protected]: +255 22 2160463

Stone Town

P O. Box 3897, ZanzibarMalindi, Cine Afrique BuildingEmail: [email protected]: +255 22 2160515

kcb newsletter issue 2

Documents