DODOMA: TANZANIA Commercial Bank (TCB) Chairman, Dr Edmund Mndolwa has called on Tanzanians to promote financial discipline and overcome the fear of accessing loans from financial institutions.
He said during the launch of the bank’s branch in Mpwapwa District, Dodoma Region on Wednesday that accessing loans from the commercial banks is a way of improving their socio-economic welfare.
“There are people who have been spreading fear among others to shy them away from taking loans from commercial banks, it only needs discipline to reach the economic status one would have wished,” he said.
Before the merger of the three banks to make TCB, Mpwapwa was receiving financial services since 2017 before they decided to build a state of the art building that is housing the currently branch.
The Chairman said entrepreneurs ought to have in place loans payment schedules so that they remit as per agreed terms with the commercial banks and build trust.
He said TCB, was determined to reach more people in both parts of the Union and said that being a government-owned bank is a significant institution for citizens.
“We aim to help the people of Mpwapwa district and its surrounding areas. May citizens take advantage of this opportunity to take loans so that they can implement economic and investment activities that may lead to their own developments,” said Dr Mndolwa.
The TCB Mpwapwa Branch Manager, Mr Godlive Temba, said that they had limited capital, but as of now, the branch has served 2,819 customers with a capital of 632.4bn-/ and loans have reached 3.528bn-/.
Mr Temba added that TCB also deals with small loans, women loans, entrepreneurship loans for entrepreneurial groups, as well as larger loans.
According to a statement issued by TCB’s Acting Chief Executive Officer (CEO), Jema Msuya, the bank currently has 82 branches and more than 5,000 agents nationwide.
He noted that the bank is increasing its digital operation so as to compete with other institutions that are operating online services.