Tanzania, Zambia move to easy transactions at border posts
Bank of Tanzania (BoT), governor Prof Florens Luoga. Photo |File
What you need to know:
According to a BoT statement the agreement will be signed in Tunduma, which is in Songwe Region, a move that will help increase trade and investments in both sides.
Dar es Salaam. Commercial banks at Tunduma and Nankonde border posts will start payments in both currencies without restrictions, a move that would spur trade and investments.
This, according to a BoT statement, will enable traders and individuals to make payments in Tanzanian shilling and Zambian kwacha on both sides of the border.
And tomorrow, September 21, the governor of the Bank of Tanzania (BoT), Prof Florens Luoga, and his Zambian counterpart, Dr Denny Kalyalya, will sign an agreement, which will make life easy at the busy border.
According to a BoT statement the agreement will be signed in Tunduma, which is in Songwe Region, a move that will help increase trade and investments in both sides.
The signing ceremony will be officiated by the Songwe Regional Commissioner, Brigadier General Nicodemus Mwangela, and followed by a public rally.
