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Tanzania: Government Asks Banks to Reduce Interest Rates on Loans
Source: allafrica.com
Source Date: Tuesday, July 16, 2013
Country: Tanzania
Created: Jul 16, 2013

The minister commended the bank for introducing the products that will help workers and cultivate saving habits among them.
The bank's Managing Director, Mr Ammish Owusu-Amoah, mentioned the products as public service pack that contains a range of products and services for public sector employees at a single monthly fee of 7,000/-.
All the products and services in the pack are linked to a current account. "Our bank has in place an additional pack specifically designed for the informal sector and small scale businesses, tapping into a significant percentage of the unbanked population," he said, mentioning other product as My Business Pack which contains products and services for small scale business people in the informal sector at a single monthly fee of 5,000/-.
"It is only through innovation that Tanzania can improve access to specific needs for our people," he said. The bank currently has a network of 19 branches in Tanzania currently, with 10 of the branches located in Dar es Salaam and the other nine branches in Arusha, Kilimanjaro (Moshi), Kahama, Mbeya, Morogoro, Mtibwa, Mtwara, Mwanza and Tunduma.
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