THE China Alumni Association of Tanzania (CAAT) has launched a Servings and Credit Co-operative Society (SACCOS) during a one-day strategic meeting held in Dar es Salaam to discuss matters related to economic opportunities available in Tanzania and China.
Speaking during the meeting, the Second Vice President of Zanzibar, Ambassador Seif Ali Idd who was the chief guest hailed CAAT for organizing the meeting.
He said Tanzanian policies now aims at strengthening economic policies to ensure sustainable growth, asking CAAT to make use of the SACCOS to come up with economic projects and open up factories given the fact that Tanzania has raw materials in abundance.
“China had for a long time kept its doors closed, now that the doors are opened many countries are rushing to invest in China.
Let us go and ask for licenses to open up businesses in China, with the use of the SACCOS make sure it benefits individual members and the national as a whole,” he said.
Ambassador Seif was accompanied by other dignitaries including the China Ambassador to Tanzania, Ms. Wang Ke and Retired Tanzanian Ambassador to China, Abdulrahman Shimbo.
Ambassador Idd emphasised that the association should not be used for political gains, promising that the government would extend its support to see to it that its objectives are met.
“As a guardian I would like to advise you to make sure that your constitution is honoured, don’t allow political motives to control your association, the government will extend its support to you and make sure you achieve your goals,” he said.
The Vice Chairperson of the SACCOS, Dr. Fatma Roselyn Waziri said the major reason why they had to launch the Saccos was the quest to mobilize resources and tap opportunities available in China.
Dr. Waziri pointed out further that though SACCOS members would be able to purchase shares, deposit savings and borrow cash for economic development activities, adding that the idea was to develop from a mere SACCOS in to a bank.
“Through this SACCOS we will be able to establish various businesses, factories and make effective use of available opportunities.
We are endowed to have some members who are already owning industries and business companies where other members can learn from,” he said.
In another development the association has launched a women wing dubbed China Alumni and Tanzania Women Advanced Network (CAT WAN) with the major objective of boosting women participation in economic and business affairs.
Ms Lina Kahisha who is the Chairperson of the wing said the wing would support women and make sure they get sufficient information on the economic opportunities that they can benefit from.