LETSCHEGO BANK TANZANIA EXTENDS THREE-MONTH LOAN REPAYMENT HOLIDAY TO ITS CUSTOMERS TO HELP THEM CUSHION THE IMPACT OF COVID-19

Letshego Bank CEO, Andrew Tarimo.

Letschego Bank Tanzania has extended a three-month loan repayment holiday to its customers to help them cushion the impact of the disruption caused by COVID-19, a severe flu related pandemic that continues to wreak havoc to businesses and life patterns globally.

Briefing the media in Dar es Salaam about the decision yesterday, The Chief Executive Officer (CEO), Andrew Tarimo said:

“COVID-19 is a global crisis that has hit businesses hard without it being the fault of the business community. It is therefore our obligation to ensure we continue to coexist with our partners during this difficult time of doing business.”

He said the relief was effective from April 1, this year and will run for three months, meaning up to the end of June. 

The CEO further called on their customers to contact Bank officials for assessment and restructuring of their loan portfolios.

He explained furthermore that the hardest hit were SMEs in the tourism, education and travel sectors as well as the hospitality industry.

“As a Bank, we felt that we needed to deliver this benefit in order to allow businesses to continue operating efficiently,” Tarimo added.

The Bank CEO reiterated that Letshego Bank Tanzania was committed to continue providing retail and business financial services through physical presence, strategic
alliances and digital platforms.

He explained that their customers can still apply for loans through their Call Centre, WhatsApp for business and Web applications, the Bank has a presence on Instagram and Facebook. The same platforms also have more information on the Bank’s business continuity programmes during this challenging period.