Subscribe to receive latest Updates

Friday, February 10, 2012

DCB emerges the best-performing stocks of 2011



DCB emerges the best-performing African stocks of 2011

According to, the Dar es Salaam Community Bank (DCB) has emerged the fifth among the top ten best performing stocks in Africa for the year 2011. All the top ten winning companies averaged weekly trading volumes in excess of $10,000 during the year 2011. DCB which started operations nine and half years ago, focuses on lending to small and medium enterprises. DCB management boosted its 2010 dividend by 71 per cent.
A statement issued by Peter Machunde, CEO of Vertex Securities, brokers of the DSE the bank’s earning also increased by 23 per cent in the first nine months of 2011, propelled by a big gain in net interest income.
Other include the Botswana based ABC Holdings which has 61.5 per cent Year to Date Return.  ABC grew after-tax earnings by 33 per cent during the first half of the year thanks to a stabilizing economic environment in its largest market — Zimbabwe.
Fidelity Life Assurance Company of Malawi emerged the overall winner by recording a 536.4 per cent YTD Return. Africa’s top performing stock thus far in 2011 is Zimbabwe’s oldest insurance company. Fidelity Life made its shareholders extremely happy by growing profits by 431 per cent during its 2011 fiscal year on the back of strong local demand for insurance products and a growing operation in Malawi.
It was followed by Truworths Zimbabwe and AEL Zambia with year to date returns of 137.1 per cent and 109.4 per cent respectively.
AEL supplies explosives to the Zambian mining and construction industry. Its 2011 financial results have been nothing to write home about. Investors may be speculating on long-term growth in the local mining sector.
Truworths is a leading Zimbabwean clothing retailer. Truworths operates 59 stores and also manufactures apparel for export. The company benefited immensely from dollarization with 2011 fiscal year operating profit soaring 204 per cent.
The forth winner was Société des Caoutchoucs de Grand-Béréby of Cote d’Ivoire which recorded the year to date return of 104.0 per cent.  SOGB produces two very hot commodities: rubber and palm oil. Accelerating vehicle sales in China and India have driven up rubber prices, while palm oil prices are on the rise due to its increased usage as a bio-fuel.
Other winners were First Banking Corp Holdings of Zimbabwe, Produce Buying Company of Ghana, Total Petroleum Ghana and ZB Financial Holdings of Zimbabwe.
Furthermore, the market analysis by Firstglobalselect, the global market intelligence firm has indicated that the bank is also leading on monthly returns- year-to-date. The bank which emerged the only company listed at East African stock exchanges had an annual best return Year-to-Date of 128.57 per cent, ahead of all Dar es Salaam Stock Exchange (DSE) listed companies.

Solidarity Group Lending

Solidarity Group Lending
This is a group loan product targeting self employed households and youth living in and around Dar es Salaam defined as:-
  • Self employed women, men and youth working in the informal sector
  • Small and medium enterprises with potentials to increase employment capacity.
Credits shall be extended to individuals within the target market who are:
  • Members of viable small group of five persons voluntarily formed, they are friends, living in neighborhoods and doing business. (Only like-minded members who enjoy mutual trust and are not from the same household or same rented house or sisters and brothers If more than one person from the same household wishes to become a member, they may do so by becoming members of another small group of five in the same locality or neighborhood).
  • They must be of same sex, knowing each other and each others’ businesses.
  • The group will have to be registered at the bank under a guarantee of one Financial Center which comprises of ten such groups (50members).
  • Membership fees for each member is Tzs 2,000.00
  • Loan repayment is on weekly basis, to be completed within three, six nine or twelve months.
  • A weekly saving of at least Tzs 1,500.00 per week has to be deposited at the bank.
  • The five member groups will guarantee each other, and the group will be guaranteed by the center of 50 members.

SMS Banking

What is a SMS Banking?
DCB offers SMS Banking for its customers as a way of expanding its products range in a more diverse and competitive market environment.
Basically the product provides financial services using mobile telephones of all sorts where by customers request and receive banking information from the bank on their mobile phone via short message services (sms). Individuals or corporate bodies can manage their bank accounts, check their account balances, perform check requests and perform other banking transactions using their mobile phones.
Pre requisite
Customer must be DCB Bank account holder
The product uses mobile phone of all sorts
Customer must apply for subscription of the services
  • Services offered
  • Account balance enquiries
  • Account min statement (last 3/5 transactions)
  • Stop payment
  • Cheque book request
  • Change of PIN number
Security of DCB SMS banking: Use of PIN Number and Registered mobile number
Benefits of DCB SMS Banking
To Customer
  • Convenient way of tracking financial records
  • Reliable
  • Time saving
  • Minimize costs, service is at your finger tips
  • 24*7 hrs service: this service is available day and night, weekends and public holidays.
 To the Bank
  • Decongest banking halls ( reduce queue in banking hall)
  • Stay Competitive, by retaining and attracting new customers
  • Customer satisfaction (will appreciate services and remain with the bank)
  • Generate revenue from Commission accrued from this service.
  • Reduce liability from frauds (by providing text alerts as an early warning system)
  • Reduction of paper works
  • Increase bank efficiency in servicing its customers
  • Enhance the bank image
  • Build the future of Banking (in less than a decade people of all age will use mobile phone to bank and transact free).
How to join the service
    • Customer shall visit DCB Bank branches for filling in application forms
    • Upon approval, branches sends the authorized forms to head office
    • Head office creates and activate
    • Head office sends two messages to customers; PIN and activation code and the link to download the application
    • Down load application forms from Website.

UmojaSwitch Mwananchi card

UmojaSwitch Mwananchi card.
All saving a account holders are invited to acquire one Mwananchi debit card, issued free of charge by Dar es Salaam Community bank; to be used to withdraw cash from any Bank’s ATM connected to UMOJA-SWITCH, shared by Akiba Commercial Bank, Azania Bank, Bank of Africa Tanzania, Dar es Salaam Community Bank, Twiga Bancorp and Tanzania Investment Bank.

What are the benefits of Mwananchi card?
  • It is convenient, safe , easy to carry in your wallet and a modern way of  carrying  money in electronic form
  • Mwananchi card guarantees security for your money. In case you loose your card, worry not since your PIN number which you only know will protect your money as you are the only one who can use your card.
  • Your card can be easily replaced if get lost, unlike real cash which if lost is gone.
  • With Mwananchi card you can withdraw cash directly from your account any time, any day, 24 hours a day, 7 days a week, and 365 days a year.
  • Out reach and availability of services in conveniently located ATMs in Tanzania, wherever the UmojaSwitch signage is displayed.
  • Is simple, easy to use when accessing cash and it is a quick transaction between the merchant and your personal bank account.
  • Every transaction is printed on your bank statement, so you can keep track of your spending.
How to apply.
Visit your nearest DCB branch and ask to fill Mwananchi card application form to get your card.

@ 2002 - 2013 DCB Commercial Bank Plc.. Haki zote zimehifadhiwa
Best Blogger Gadgets