A team of South Africa surgeons has performed the world's first successful penis transplant in a marathon nine-hour operation, Stellenbosch University announced Friday.

The operation, led by Prof André van der Merwe, head of the university's Division of Urology, was performed in December at Tygerberg Hospital in Bellville, Cape Town, the university said.

The university said it was the second time that the procedure had been attempted, but the first time that a successful long-term result was achieved. The university said the the unidentified 24-year-old patient had had his penis amputated three years ago as a result of a botched circumcision at the age of 18.By Kimena Nuhu.

Bank shares show mixed trend on DSE

BANKS shares at Dar es Salaam Stock Exchange (DSE) both markets are showing a mixed trend, being top gainers in the main market and the other way round on the alternative window.

The banks are shining on DSE’s main market by dominating price appreciation after gaining between 10 and 25 per cent while on alternative market the loss of between negative 20 and zero per cent.

Orbit Securities General Manager Juventus Simon told ‘Daily News’ that the trend based on the fact that investors are confident to go for listed stocks on the main market.

“The opening of the capital market also boosted share appreciation on the main market,” Mr Simon said.

He said National Microfinance Bank and CRDB are the biggest banks in the country that automatically attract investors from within or outside the country.

On other hand, banks on Enterprise Growth Market (EGM), Mr Simon said, were listed in less than a year meaning investors are still analyzing them properly before making firm decisions.

“On top of that EGM listed stocks are still demanded by local investorsÉ unlike main market items that are demanded by both domestic and foreign investors,” Mr Simon said.

Tanzania Securities Limited on Tuesday daily report shows that DCB bank is leading after it gained by 20.83 per cent since January to 870/- a piece -- to become the top appreciating share on bank segment.

The report showed that DCB is followed closely by NMB that appreciated by 13.71 per cent to 3,980/-. However, CRDB dropped by negative 6.98 per cent to 400/-.

CRDB share price has been on the gain and loss in the last ten weeks since January. On EGM Mkombozi Commercial Bank (MKCB) is the biggest loser after its share price went down by 16.67 per cent to close the Tuesday session at 1,250/-.

Mr Simon said MKCB despite making a good profit last year close to 2.0bn/-, the prices have been dogged by its newest listing on EGM.

MKCB made profit in the last consecutive three years and if the trends continue has reason to graduate to the main market in the next few years.

One of the main stipulations of listing at main market is a profit of three years in a row. Another bank, Maendeleo, which was listed early, last year, has yet to break even but its share price stagnated at 600/- since listed on the bourse.

Overall, Swissport, the ground handling firm, is the top gainer for the domestic listed companies on DSE, after climbing up by 26.27 per cent to 6,440/- on Tuesday.

MKCB is the top loser after depreciating by 16.67 per cent to close the Tuesday session at 1,250/-.

Moment of truth on Dar’s Swiss billions.

Dar es Salaam. Nearly four years down the road, Tanzanians will finally get to know the truth about the Swiss billions that are allegedly hidden in the secret bank accounts of local politicians, businessmen and public servants.

Attorney General George Masaju told The Citizen last month that the probe report was ready but the Public Accounts Committee (PAC) ordered that the findings be tabled in Parliament next week.

The report is highly anticipated, given that it will reveal who owns what in offshore bank accounts.  It will also set in motion legal action against the suspects.

PAC earlier asked the Tanzania Revenue Authority (TRA) and Central Bank of Tanzania (BoT) to disclose the measures they had taken to trace the money. They had not delivered concrete details yesterday, though, and PAC ordered that the report compiled by a taskforce led by former AG Frederick Werema be tabled in Parliament next week.

 BoT Deputy Governor Juma Reli said yesterday that the bank had yet to take action against leaders with offshore accounts despite a recent leak that shows that 99 Tanzanians have millions of dollars in HSBC bank. Mr Reli, who declined to name those believed to have off-shore accounts, said he was aware that the report was ready but only the AG could release it. The Foreign Exchange Act requires that Tanzanians apply for a permit before they can open offshore bank accounts, according to Bank of Tanzania (BoT) Secretary Yuston Tongola.

Judge Masaju told editors in Dar es Salaam last month that the final report would be tabled in Parliament any time and the House would then debate the document and decide on the next course of action.

The AG’s revelation came in the wake of leaked data that showed that 99 Tanzanians wired $114 million (Sh205 billion) to HSBC Bank in Switzerland from 2006 to 2007. But that amount hardly comes close to the $1billion that has reportedly been stashed away yearly from Tanzania in the form of capital flight, tax evasion and money laundering.

PAC Chairman Zitto Kabwe yesterday urged the AG to table the report in the next session of Parliament that is scheduled to kick off on Tuesday next week.

Initially, Mr Kabwe summoned Judge Masaju to appear before the PAC and present crucial information on the Swiss billions, but he later backed down after the Deputy BoT governor indicated that the report was ready.

The parliamentary committee further directed the Central Bank to use the HSBC report to compile a list of individuals and companies with offshore accounts.

Mr Kabwe revealed that HSBC officials came to Tanzania to meet their clients in 2006 and 2007, contrary to the Foreign Exchange Act. “The government should consider legal action against HSBC officials for conducting business in the country without a licence,’’ he said.

According to PAC member Ismail Aden Rage, the law does not allow Tanzanians to stash away that kind of money. He wondered why the Central Bank had not yet cracked the whip on the offshore account holders.