Dar es Salaam. Retailers and other groups of Small and Medium Enterprises (SMEs) have received a total of Sh72 billion in credit financing from the Bank of Africa (BoA) during the past nine months.
The amount was part of a total of Sh250 billion in loans that the lender has disbursed during the first nine months of the current calendar year, the BoA (Tanzania) chief executive officer, Mr Adam Mihayo, said at the weekend.
The bank said in a statement that Mr Mihayo was speaking during a ‘Vicoba (Village Community Banks) Night Out’ event in Dodoma. The Dodoma Regional Commissioner, Ms Rosemary Senyamule graced the event.
“This group entails small, medium and large scale businesses. It is a group that encompasses producers of livestock and poultry feed. We believe that this is a very important segment of the economy and also a major employer,” he said.
In its strategic plan, BoA seeks to collaborate with other stakeholders, including IFC and diaburse over Sh315 billion in loans to SMEs. Part of the money would be issued in form of credit guarantees.
In her remarks, Ms Sinyamule applauded the BoA and other stakeholders who were making efforts to empower SMEs. She called upob Vicoba groups to work hard and diligently in order to surmount poverty.
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The initiative highlights the party’s commitment to recognizing and supporting individuals who have served with dedication and integrity.
Babu Duni, who stepped down earlier this year, was succeeded by Othman Masoud, now the First Vice President of Zanzibar.
The policy aims to provide ongoing respect and support to retired leaders, ensuring their continued recognition and contribution to the party’s development.
“Recognizing their significant contributions to the development and prosperity of the party, this policy ensures that retired leaders continue to be acknowledged and respected by both the party and the community,” the policy states.
To benefit from this policy, leaders must not have left or been expelled from the party. They must have served the party with honor and dedication. The national leadership committee will determine whether a leader has fulfilled these criteria.
The policy seeks to honor retired leaders, protect their dignity, acknowledge their contributions, leverage their ideas for the party’s growth, and support them to the best of the party’s ability.
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