TUCTA BOSS ADVISES FINANCIAL INSTITUTIONS TO CAPITALIZE ON THRUST TO SHIFT TO DODOMA

Trade Union Congress of Tanzania (Tucta), Secretary 

General, Mr Nicholas Mgaya.

As preparations for moving the governments to Dodoma heat up, commercial banks have been advised to open and expand braches in the designated capital, purposely to offer quality and reliable services to hundreds of workers who are set to relocate.

Trade Union Congress of Tanzania (Tucta), Secretary General, Mr Nicholas Mgaya told the ‘Daily News’ yesterday that financial institutions including commercial banks were the major stakeholders in changing and improving lives in Dodoma.

“It is obvious that next month people will start to move to Dodoma, most of them would like to establish new home and businesses there, all these will be possible with the support of reliable financial services,” he said.

The Tucta boss also urged commercial banks to reduce loan interests to enable civil servants to enjoy their services. “It has been difficult for civil servants to seek loans from these commercial banks, they charge high interest rates, which are not friendly to most of their customers,” he noted.

Mr Mgaya urged farmers to make a good use of Tanzania Agricultural Development Bank (TADB) by seeking loans for agriculture activities. He said the National Microfinance Bank (NMB) has also demonstrated good example in supporting farmers with loans and other required needs.

“Those who are eying at investing in agriculture in Dodoma region must seek loans from financial institutions especially TADB and NMB, which have already shown an interest to support the development of the sector,” he explained.

Moreover, Mr Mgaya urged trade unions to invest in real estate saying it is the only investment, which serves as both business for profit and an asset at the same time. “Whoever wish to invest can now set eye at Dodoma, there are opportunities for everybody, trade unions can build shopping malls, tenants’ houses and other businesses of such nature,” he said. According to Mr Mgaya, Tucta has so far invested in real estate in 15 regions.

Last week, the government revealed that it can currently move 75 per cent of its servants to Dodoma, following an assessment, which showed they will get housing and other social amenities without any problem.

The Minister of State in the Prime Minister’s Office (Policy, Parliamentary Affairs, Labour, Employment, Youth and the Disabled), Ms Jenista Mhagama said an assessment conducted by a special regional committee formed by Prime Minister Kassim Majaliwa also showed that 70 per cent of the government offices can presently move to the Capital City.

Daily News