Kilimanjaro RC Anna Mghwira listens to Barclays Bank
Tanzania managing director Abdi Mohamed (left) during the opening of Moshi
Branch at the weekend. Looking on are Moshi DC Kipi Warioba (right) and bank’s
Moshi Branch manager Ibrahim Omari and second left is Barclays Customer Network
head John Beja.
Moshi. Kilimanjaro regional commissioner Anna Mghwira has
advised financial institutions in Tanzania to launch new products that rhyme
with local market to support industrialisation as touted by the current
government.
Speaking during the launch of Barclays Bank Tanzania’s
ultra-modern branch in Moshi at the weekend, Ms Mghwira said the lenders should
avoid adopting products from other markets which end up failing to satisfy the
demand.
“As you are aware, Tanzania has been undertaking extensive
financial reforms since we liberalised the economy and ushered in free market
in 1993. Such reforms have given rise to new customer needs which call for high
innovative drive for banks to deliver,” said Ms Mghwira.
She also commended the
international bank’s perseverance in providing banking services in the country
for 17 years in a row saying it’s a proof of trust among transnational
investors whom she encouraged to open more projects in the country.
“As the government strives to tackle challenges facing the
financial sector, we request stakeholders to play an active role in improving
the lives of Tanzanians, “she added.
Barclays Bank Tanzania managing director Abdi Mohamed said
Barclays’ entry into the country had been encouraged by financial reforms and
the need for seasoned investors, a vital engine for driving the country’s
envisaged economic growth.
The Citizen
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