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Mgimwa lauds DCB Commercial Bank for initiating 15m/- housing programme

11th December 2012
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William Mgimwa

The government has applauded DCB Commercial Bank PLC for its contribution in improving the people’s lives citing 15bn/- loans earmarked to be dished out next year.

Speaking at the weekend in Dar es Salaam at the launch of DCB’s branches at Chanika and Ukonga, in Dar es Salaam Finance minister Dr William Mgimwa said the development of any bank in the world must rely on service innovation for its customers.

 “The government recognizes the efforts done by DCB in growing the national economy. The bank has contributed to reduce poverty among Tanzanians through providing them with loans because when the bank performs well, it automatically changes people’s life economically,” he said.

It is upon the bank to strengthen its banking services and be ready to compete with others and banking services companies including M-pesa, Tigo Pesa and others, he said.

However, Mgimwa assured money security, saying: “We don’t have compromise with the security…we must ensure there is enough security to the banks for the safety of customers’ money…,” he said.

For his part, Director General of DCB Commercial Bank PLC, Edmund Mkwawa said in the bank’s 10 years of operation, it has successfully improved people’s lives by providing 246.1bn/- in loans to at least 251,315 entrepreneurs.

“About 41bn/- loans have been provided to 127,518 customers in groups, 78 percent of whom were women from all municipal councils of Dar es Salaam. The loans have helped them to develop their small projects which boost their lives,” he said.

He urged Tanzanians to have faith with the services offered by the bank, and to be proud of its achievements which are the catalysts to development.

For his part DCB Board of Directors chairman Ambassador Paul Rupia said despite the myriad challenges facing the bank, it has succeeded to change its license whereby recently it opened a window for corporate customers, besides operating outside of the city.

“This step will advance the growing of deposits as well as the use of opportunities which at the beginning were not utilised by the bank, and will increase the value to the bank itself and for shareholders,” he said.

The Dar es Salaam Regional Administrative Officer Theresia Mmbando speaking on behalf of the Regional Commissioner Meck Sadick urged municipal councils to use the bank’s services to develop their activities in agriculture, manufacturing and business.

SOURCE: THE GUARDIAN