Tanzania Firm distances itself from scam deals

TANZANIA Dar es Salaam. The Kopafasta Microfinance Limited Company has distanced itself as among the firms that were recently listed by the Business Registrations and Licensing Agency (Brela) as being involved in fraud, saying despite the name resemblance, the two were completely different entities.

Last week on October 12, Brela issued a statement about the fraud committed by groups of people and companies through the social media.  

In its statement, which meant to warn people against getting involved in online pyramid schemes, Brela named ‘KopaFasta Company Limited’ as among the companies Tanzanians needed to beware of .

However, Kopafasta Microfinance executive manager Patrick Kang’ombe told journalists over the weekend that the firm appearing in Brela’s list had nothing to do with his company.

“We have already submitted an official letter to Brela asking them to inform the public about the legality of our company,” Mr Kang’ombe said adding that their company was legally registered by Brela under Kopafasta Microfinance Limited with registration certificate number 138564851 on August 9, 2019 to operate as Microfinance Company offering loans to entrepreneurs and employees.

Mr Kang’ombe urged Tanzanians to beware of fraudsters, especially those who use social media to promote their companies by using fake names that resemble real names of other registered firms.

“The loans provided by our company follow all the procedures as required by the laws of the land, there is no one who will be asked to go and bring money in order to qualify and have access to our loans,” he said.

He urged Tanzanians who need to get various loans to contact their offices or call the company’s management for more details.

Recently, there has been a habit of dishonest people who forge company certificates, business names and licenses with ill intentions to defraud the public.