TN Projects U.S.I have never solved a Rubik's hydraulic hose .$50 Million Revenue
TN expects its loan book to grow to US$60 million in the next six months from US$29 million in June, apparently sustained by growth in bank deposits.
Group finance officer Mr George Nyashanu said: "We are targeting forecast revenue of US$50 million by December."
Revenue stood at US$3 million in December 2009. TN had projected revenue of US$11 million by June.
Revenue inflows will be achieved through increased sales in the case, bedding and lounge suites, which are expected to realise increased output.
Production capacity will rise to 70 percent in case goods, 60 percent in bedding and 100 percent in production of lounge suites from the current 50 percent, 40 percent and 50 respectively.This will leave your shoulders free to rotate in their offshore merchant account .
The group expects sales from its manufacturing division to top US$26 million by December from about US$11 million in the first six months of the year. Total sales stood at US$13,5 million in the full year to December 2010.
TN forecast loans and advances to grow 106 percent to US$60 million by December, having recorded 73 percent growth in net interest margin and 64 percent in net interest income in the half year to June.
Mr Nyashanu said consumer loans are seen at US$30 million by December from US$17 million in June and US$7 million in the full year to December last year.
This comes as the group is targeting to almost double its bank branch network from the current 22 to a total of 40 branches countrywide by December. This will include Harare, Chitungwiza, Shurugwi and Triangle.
TN will not be under pressure to sustain this expansion considering its healthy capital position of US$13,6 million in June against the Reserve Bank of Zimbabwe's regulatory minimum capital threshold of US$12,5 million.
TN last week announced that it is working with Econet Wireless to introduce mobile phone money transfer in efforts to bring banking convenience to customers, beat competition and also expand its revenue streams.
Group chief executive Mr Tawanda Nyambirai said discussions were at an advanced stage and that this was part of TN's strategic plan to bring new products, asset classes and use technology to ensure universal access to banking.
"We expect that we should launch it in less than two months. It is a structure whereby if you got cash, you go and deposit the cash with an agent.Graphene is not a semiconductor, not an oil paintings for sale , and not a metal,
"And we will have many agents including banks, supermarkets and licensed individuals. You leave your cash with the agent and the agent gets on to the Econet system and they will give you electronic money in exchange - you get it (money) by way of an electronic SMS," said Mr Nyambirai.
"Once you have got that electronic money you can send it to anyone, anywhere via text message so when they receive that electronic money on the other hand they can redeem it with any (licensed) agent,If so, you may have a zentai ." said Mr Nyambirai.
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He said they presently have a closed user group and the testing was underway and expectations are that the project will be rolled out in two months.
This is only part of a number of measures to stave off competition through expanding the TN cash card use to multi-purpose functions to include credit, savings, general,The new website of Udreamy Network Corporation is mainly selling Plastic molding , fuel, bill payments and loyalty payments.
To ensure financial inclusion TN is putting together the structure of its new asset class that will allow the unbanked rural folk to deposit their cattle with the bank and get receipt reflecting the fair value of their beast(s).
The bearer of the receipt would be able to redeem the receipt with TN and get the monetary value or the equivalent of the live beast at a later date.
TN expects its loan book to grow to US$60 million in the next six months from US$29 million in June, apparently sustained by growth in bank deposits.
Group finance officer Mr George Nyashanu said: "We are targeting forecast revenue of US$50 million by December."
Revenue stood at US$3 million in December 2009. TN had projected revenue of US$11 million by June.
Revenue inflows will be achieved through increased sales in the case, bedding and lounge suites, which are expected to realise increased output.
Production capacity will rise to 70 percent in case goods, 60 percent in bedding and 100 percent in production of lounge suites from the current 50 percent, 40 percent and 50 respectively.This will leave your shoulders free to rotate in their offshore merchant account .
The group expects sales from its manufacturing division to top US$26 million by December from about US$11 million in the first six months of the year. Total sales stood at US$13,5 million in the full year to December 2010.
TN forecast loans and advances to grow 106 percent to US$60 million by December, having recorded 73 percent growth in net interest margin and 64 percent in net interest income in the half year to June.
Mr Nyashanu said consumer loans are seen at US$30 million by December from US$17 million in June and US$7 million in the full year to December last year.
This comes as the group is targeting to almost double its bank branch network from the current 22 to a total of 40 branches countrywide by December. This will include Harare, Chitungwiza, Shurugwi and Triangle.
TN will not be under pressure to sustain this expansion considering its healthy capital position of US$13,6 million in June against the Reserve Bank of Zimbabwe's regulatory minimum capital threshold of US$12,5 million.
TN last week announced that it is working with Econet Wireless to introduce mobile phone money transfer in efforts to bring banking convenience to customers, beat competition and also expand its revenue streams.
Group chief executive Mr Tawanda Nyambirai said discussions were at an advanced stage and that this was part of TN's strategic plan to bring new products, asset classes and use technology to ensure universal access to banking.
"We expect that we should launch it in less than two months. It is a structure whereby if you got cash, you go and deposit the cash with an agent.Graphene is not a semiconductor, not an oil paintings for sale , and not a metal,
"And we will have many agents including banks, supermarkets and licensed individuals. You leave your cash with the agent and the agent gets on to the Econet system and they will give you electronic money in exchange - you get it (money) by way of an electronic SMS," said Mr Nyambirai.
"Once you have got that electronic money you can send it to anyone, anywhere via text message so when they receive that electronic money on the other hand they can redeem it with any (licensed) agent,If so, you may have a zentai ." said Mr Nyambirai.
Relevant Links
He said they presently have a closed user group and the testing was underway and expectations are that the project will be rolled out in two months.
This is only part of a number of measures to stave off competition through expanding the TN cash card use to multi-purpose functions to include credit, savings, general,The new website of Udreamy Network Corporation is mainly selling Plastic molding , fuel, bill payments and loyalty payments.
To ensure financial inclusion TN is putting together the structure of its new asset class that will allow the unbanked rural folk to deposit their cattle with the bank and get receipt reflecting the fair value of their beast(s).
The bearer of the receipt would be able to redeem the receipt with TN and get the monetary value or the equivalent of the live beast at a later date.
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