President John Magufuli has told teachers gathered in Dodoma for their annual general meeting on Thursday that their Mwalimu Commercial Bank (MCB) is among poor performing banks in the country, hence risks closure.
Officially opening the Tanzania Teachers' Union Annual General Meeting, President Magufuli said he was requested to launch the MCB, but when he passed through the bank’s financial reports available at the Bank of Tanzania (BOT), he realized that it was performing poorly hence he refused.
He told teachers to hold the Union’s leaders accountable on the two per cent monthly deductions from their salaries as contributions. He said his government is committed to pay outstanding 25bn/- for teachers, but reminded them to choose clean leaders.
The President was accompanied by Prime Minister Kassim Majaliwa, ministers and other top public officials.
Daily News
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