TANZANIA Getting ready for take off Interview with Mrs Edwina Agnellus Lupembe, General Director Read our exclusive interview Mrs Edwina Agnellus Lupembe General Director Contacts : Samora Avenue P.O. Box 21195 Dar es Salaam, Tanzania Tel: +255 (022) 2112 589        +255 (022) 2110.532/2110.531 Fax: +255 (022) 2114.782 Email: eddly@raha.com BACKGROUND The NBC Holding Corporation is a statutory company that was established by parliament through the enactment of the National Bank of Commerce (Reorganisation and Vesting of Assets and Liabilities) Act No. 23 of 1997, as amended by Act No. 2 of 1998. The Corporation is one of the three successor entities of the former National Bank of Commerce (NBC). The reorganisation of NBC gave rise to the following entities: NBC Holding Corporation NBC (1997) Limited National Micro-finance Bank Limited (NMB) The corporation started its operations on 1st October 1997; a day after the NBC was officially dissolved. CORPORATION'S EXISTENCE The Corporation shall continue in existence until it discharges all of NBC's residual assets and liabilities. In any case shall not exist for more than five years from 1st October 1997 unless the Corporation is granted a new lease of life by a National Assembly resolution within six months prior to the date of Corporation's cessation of operations. MISSION STATEMENT The Corporation's mission is defined in section 6 and 1O of the National Bank of Commerce (Reorganisation and Vesting of Assets and Liabilities) Act No. 23 of 1997, and includes: Carrying on the business of a holding company and the business of an investment company in relation to NBC (1997) Limited and NMB Acquiring and holding on behalf of the Treasury Registrar, controlling and other interests in the share or loan capital of NBC (1997) Limited and National Micro-finance Bank Limited Taking over assets and liabilities and continuing the business of NBC which are not vested in NBC (1997) Limited and NMB Receiving and discharging all claims against NBC which are not vested in NBC (1997) Limited and NMB Holding of non-banking assets and liabilities, and all other assets, liabilities and business not transferred and vested in NBC (1997) Limited and NMB. MANAGEMENT TEAM The Corporation's management team comprises Mrs EA Lupembe - General Director Mr J W Hellela - Director of Estate Management & General Services Mr S H Ngalupia - Director of Loan Recovery Mr M Y Mbajo - Director Finance & Administration Mr M FO Mbunda - Corporation Secretary Mr D P Malosha - Internal Auditor Mr A L Semmg'indo - Human Resources Manager This is team is responsible for establishing sound controls over all assets and liabilities of the Corporation. It is also responsible for ensuring proper working procedures, for the discharging of the duties vested in the Corporation, are in place including the preparation of the Corporation's financial statements. EMPLOYEE MOTIVATION The Corporation employs 38 staff members on a five-year contract basis. The Corporation provides continuous training to enhance the performance of its employees. In addition, the management conducts regular meetings with employees to ensure that working conditions are conducive. It also provides medical allowances to all employees and staff loans on a discretionary basis. FUTURE PLANS Throughout its life, the Corporation will be a major seller in the local real estate market. Unfortunately, the local real estate market's effective demand is falling with time because of low disposable income levels in the economy and a glut of real estate properties now up for sale. Because of the current Tanzania economic conditions loan recovery is difficult, as most of the NBC customers' businesses have taken a downturn. In addition, the rate of appreciation of the value of the securities the customers pledged for their loans is significantly lower than the rate at which the interest on their loans was building up. Consequently, for most of the charged-off loans transferred to the Corporation, the recoverable amount from the customer's collateral is lower than the outstanding loan amount. In the Light of the above, the Corporation is faced with a significant challenge in realising the charged-off loans it has. Management has developed certain strategic and tactical measures that it will use to recover as much of the Corporation's charged-off loans as possible. These measures include entering into formal repayment agreements with NBC customers and discounting outstanding balances for early payments. PROPERTIES FOR SALE BY LOCATION S/N   DAR ES SALAAM REGION (i) NBC Holding Corporation Investment House (ii) House No. 6 Chole Road (iii) 5Nos. Kinondoni blocks of flats (iv) Property on plots No. 941/42, Olympio block of flats (v) Property on Plot No. 123 Kitonga Street (vi) Ex-Georges grill, NBC club and Canteen (vii) Property on plot No. 403 Longido Street, Upanga   KILIMANJARO REGION (i) Moshi Municipality Ex-Revenue building. (ii) Property on Plot No. 10 Block `F´, Rombo Avenue (iii) Property on Plot No. 30 Block III, Old Moshi Road - 1 No. block of flats comprising 8No. flats(i.e. Moshi Complex) (iv) No. Kiboriloni staff houses. (v) Ex-NBC Nelson Mandela complex   TANGA REGION (i) Tanga Municipality 2No. block of flats- kwanjeka area (ii) 2No. block of flats- Bombo area (iii) A residential bungalow at Raskazone area   MWANZA REGION (i) Mwanza Municipality One block of flats, Igoma (ii) 3No. block of flats, Isamilo (iii) Property on Plot No. 16 block ´D´Isamilo   KAGERA REGION (i) Bukoba Town Nyamkazi estate consisting of 6No. detached houses. (ii) Block of flats.   MOROGORO REGION (i) Morogoro Municipality 2No. Blocks of flats on Plot No. 35-45, Ngaka street.   TABORA REGION (i) Tabora Municipality One blocks of flats at Boma/Memorial Roads (ii) 2No. blocks of flats at kilimatinde Area   KIGOMA REGION (i) Kigoma Town Ex-NBC Regional Office block (ii) Block of Flats   SHINYANGA REGION (i) Shinyanga Town 2No. detached houses on plot No. 555-556 Ngokolo area. (ii) Rest House at Relini Area (iii) 4No. houses at Ibinzamata area   IRINGA REGION (i) Makete Township Ex-NBC Managers house (i) Ludewa Township Ex-NBC Manager´s house   RUKWA REGION (i) Sumbawanga Town Ex- NBC Regional block building   RUVUMA REGION (i) Songea Township Ex -NBC Mount Matogoro Branch building. MTWARA REGION (i) One block of six flats at Shangani Area.   LINDI REGION (i) Lindi Town Ex- Inspection Squad building (ii) Ex- NBC building formerly leased to M/s CRDB (1996) Ltd.   COAST REGION (i) Kibaha Town Branch Manager's house located on plot No.8-10 Mkoani area. (ii) One uncompleted ex- Resident Directors bungalow. (iii) 3No. semi-detached house i.e. Block' C' at Mkoani / Tumbi area (i) Kisarawe Township Ex- NBC Manager's house   DODOMA REGION (i) Dodoma Municipality Property on Plot No.126 Kilimani Area. (ii) Property on Plot No. 216 Kilimani Area. (iii) Properties at Plots No. 1-6 Block`48` Area `C` Mlimwa West Estate. The Estate comprises: 2No. Blocks of flats with four flats each. 2No. Identical houses of 3 bedroom each. A semi-detached house with two bedroom units each. (iv) 2No. maisonnete blocks for 3 families in Area `D` (v) 7No. ex- NHC houses at Airport Area (vi) 2No. uncompleted blocks of flats at Area `D` (vii) Property on Plot No. 374, Kilimani area, Iringa Road. (viii) Property on Plot No. 375 Kilimani area, Iringa Road. (i) Mpwapwa Township 2No. semi-detached staff houses on Plots No 108-110 Block `G`Ilolo area   MARA REGION (i) Bunda TownshipEx- NBC Branch Manager's house TENDER ADVERTISEMENT TENDER FOR SALE OF CHUBB ROOM DOORS AND SAFES S/N ASSET DESCRIPTION QUANTITY 1 Chubb room doors with grille size 10 inches, Weight 4120 Kg gross and 3650 Kg net. 7 2 Chubb Emergency doors with grille size 10 inches, Weight 4120Kg gross 6 3 Chubb room doors with grille size 3.5 inches, Weight 1490 Kg gross and 1320 Kg net. 1 4 Chubb Emergency doors with grill size 3.5 inches, Weight 504 Kg gross and 430 Kg net. 18 5 Chubb Fire/Book room doors without grille size 0.5 inches, Weight 490 Kg gross and 360 Kg net. 33 6 Chubb Bankers safes weight 1750 Kg gross and 1650 Kg net. 1 NBC Holding Corporation invites bids from the public to purchase its Chubb room doors and safes of the following sizes: Tenderisers are requested to observe the following instructions as well as terms and conditions of sale as stipulated hereunder: 1. The Chubb room doors and safes are new with their original packages. 2. The Chubb room doors and safes are sold in pieces and / or in their totality. 3. Tender bids may be submitted by fax, courier, post or Internet, indicating the tender title subject as " Tender for sale of Chubb room Doors and Safes" addressing it to: The General Director, NBC HOLDING CORPORATION, P.O.BOX 21195, DAR ES SALAAM, TANZANIA. Fax : 022-2114782 Email: mbajo@raha.com 4. Hand deliverd tenders may be deposit at the office of the Secretary to the General Director located on the first floor, NBC Holding Corporation, Investment House, adjacent to UNDP Offices, Samora Avenue, Dar es Salaam. 5. Biders may submit their bids in Tanzania Shillings, United States dollars or one of the other hard currencies. 7. NBC Holding Corporation is not bound to accept the highest or any other tender and reserves the right not to disclose for doing so.   Read on   © World INvestment NEws, 2000. This is the electronic edition of the special country report on Tanzania published in Forbes Global Magazine. October 16th 2000 Issue. Developed by AgenciaE.Tv Communication