OMG: WHAT A SHAMEFUL ACT TWO SOUTH AFRICAN BASED IN DURBAN CAUGHT HAVING S3X IN A CLASSROOM
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Dr
Meru made the call in Dar es Salaam yesterday when officiating at the ceremony
involving the Listing of National Microfinance 41.4b/- three-year bond on Dar es
Salaam Stock Exchange (DSE).
“The
government is prepared to start construction of small-scale industries ... and
thus it is important for local government leaders to start identifying and
setting aside land that is to be used for construction of such industries,” he
said.
He
said the industries are set to be constructed through Small Industries Development
Organisation (SIDO).
In
addition, Dr Meru asked the management of NMB alongside other banks in the
country to consider lowering interest rates on loans in order to enable
business people especially Small and Medium enterprises (SMEs) to acquire loans
for investing in the industries.
“As
we embark on the construction of small industries in the country, I request NMB
and other banks to look into possibility of lowering interest rates in order to
enable the majority of entrepreneurs to get loans for investing in the
industrial economy,” he said.
Dr
Meru noted that the high interest rates issued by banks in the country were the
biggest challenge that hinders entrepreneurs from acquiring loans to start
businesses. He said the ministry was committed to partnering with NMB and other
banks to seek development partners and international banks to acquire funds and
issue loans to business people for industrial investment.
On
the other hand, Dr Meru hailed NMB’s listing at the DSE, urging other investors
in the private sector to join.
He
said the bond would facilitate development of a vibrant retail bond market and
open doors for other private sector companies, government and municipal bodies
to explore new methods to meet financing needs.
The
bank’s Managing Director, Ms Irene Bussemaker, said the three-year bond will be
used to extend loans to SMEs, large corporate and government institutions as
well as individuals. The listed bond carries an interest rate of 13 per cent
per annum and is set to mature in three years.
DSE
Chief Executive Officer, Mr Moremi Marwa, called on other banks in the country
to consider investing on bonds in order to diversify funding sources for lending
loans to Tanzanians
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During its two year run, the project will award approximately 100 major reporting grants and provide mentoring to support the best ideas for stories on development issues. Journalists who produce the best stories published or broadcasted in media that reach African audiences, will win a major international reporting trip. During its two year run, the project will award approximately 100 major reporting grants and provide mentoring to support the best ideas for stories on development issues. Journalists who produce the best stories published or broadcasted in media that reach African audiences, will win a major international reporting trip.
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