Samia calls for affordable loans
DAR ES SALAAM: PRESIDENT Samia Suluhu Hassan has called on financial institutions to make credit more affordable and accessible to ordinary Tanzanians, saying the true measure of success in the financial sector lies in its ability to improve lives, expand businesses and create economic opportunities for citizens. She said financial sector reforms and economic growth would have little meaning if their benefits failed to reach wananchi and improve their livelihoods. Speaking du
President Samia Suluhu Hassan has urged financial institutions to make credit more affordable and accessible to ordinary Tanzanians. Speaking at the Bank of Tanzania's 60th anniversary, she emphasized that the success of the financial sector should be measured by its impact on improving lives and expanding businesses, not just by service access. The President called for a re-evaluation of financial services' real impact on income growth, business expansion, and entrepreneurship. She also highlighted the need to address barriers to credit, such as high interest rates and stringent collateral requirements. President Samia encouraged innovative lending models to reach underserved groups like women and young entrepreneurs who often face exclusion from formal lending systems.
This statement highlights a critical need for financial inclusion and equitable access to capital, which is essential for economic growth and poverty reduction in Tanzania.
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