Financial Highlights

Our growth in business continues to be anchored on the economic progress of Tanzania. The Tanzanian Shilling maintained its stability against the dollar throughout 2016, due to improved performance recorded in the export values of travel, manufactured goods and gold whilst traditional exports declined. Tanzania also experienced a year of political stability following the election of President Magafuli. The annual headline inflation rate decreased to five point zero percent (5.0%) in 2016 from six point eight percent (6.8%) recorded in 2015, as a result of strict fiscal and monetary policies.

In the year under review, Tanzania�s GDP grew by an estimated six point eight percent (6.8%) compared to seven percent (7%) in 2015. This was supported by growth in various economic sectors mainly: Mining, Construction, Telecommunications and Agriculture.

The construction sector is estimated to have expanded by seven point three percent (7.3%) in 2016, at a slower rate compared to 2015 due to stalled public infrastructure projects rollout and rapid policy changes which precipitated uncertainty for businesses. Nonetheless, projected

Subsequent to year-end, the Board proposed a final dividend for 2016 totalling Tanzania shillings one point five nine two billion (Tzs1.592 bn) (2015: Tzs1.592 bn) being Tzs25 per share (2015: Tzs25 per share). The total dividend proposed for the year amounts to Tanzania shillings five point zero nine four billion (Tzs5.094 bn) (Tzs80 per share) [2015: Tanzania shillings five point zero nine four billion (Tzs 5.094 bn) (TZS 80 per share)] which will be recommended to shareholders at the upcoming annual general meeting in May 2017.