Mtaka calls on lenders to empower local contractors in flagship projects

Tuesday July 27 2021
Mtaka pic
By Alex Nelson Malanga

Dar es Salaam. Dodoma Regional Commissioner Anthony Mtaka yesterday asked the Exim Bank Tanzania to empower local contractors so that they carry out flagship projects in the country and outside Tanzania.

Mr Mtaka made the call during a dinner hosted by the bank for its customers in the country’s capital Dodoma, where he gave the example of Exim China which has been supporting Chinese contractors who carry out different mega-development projects across the globe, including in Tanzania.

“In addition to increasing the network and service to your customers, I suggest it is also better to look at how to help our local contractors to implement major projects locally and outside the country,” he noted.

The Dodoma RC further noted that major companies from across the world were being supported by their local financial institutions, something that could also be done by the Exim Bank Tanzania.

Mr Mtaka also advised on how the bank should think on solving youth unemployment in the country, by establishing something similar to Corporate Social Responsibility (CSR). He advised that Exim Bank Tanzania may decide to come up with a new service of Corporate Social Investment (CSI), which only targets graduates from different higher learning institutions either individually or in groups. Through that, he said, they could get loans to start up their lives instead of struggling for employment from different institutions.

The bank’s Board Member, Irene Mlola, welcomed all ideas. “The bank’s presence in Dodoma is the beginning of helping the city’s residents grow their economy by bringing financial services closer to them,” said Ms Mlola.

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She further said that Exim Bank Tanzania would equally support the country’s development agenda in the implementation of flagship projects to realise the ambitious industrial economy.

Exim Bank’s head of Retail Services, Andrew Lyimo, pledged the bank’s commitment to provide banking services tailored to their needs in line with innovations due to investment in digital services.

“In addition to investing in digital services, we offer different services including issuance of different kinds of loans like mortgage loans which are being offered at an interest rate between 15 and 16 percent. “ he said.