ZANZIBAR: ZANZIBAR Minister for Construction, Communications and Transport, Dr Khalid Salum Mohamed, has highlighted the importance of private institutions collaborating with the government to achieve impactful and exemplary projects.
Dr Mohamed made the remark over the weekend in Dar es Salaam when launching an investment desk initiated jointly by the Vertex International Securities Ltd and the Tanzania Postal Corporation.
Mr Mohamed described the initiative as a significant step, “I believe financial services will now reach many people who previously lacked opportunities to participate in capital markets. This is the primary goal that Vertex envisioned and has successfully implemented. I sincerely applaud you for your vision of making investment opportunities more accessible to the public,” said Mohamed.
“This investment desk will provide opportunities for the public to understand investment and its importance in improving daily life. As the government, we are committed to ensuring inclusive economic growth, where every Tanzanian can fully participate,” he added.
He noted that people have money, giving an example from Zanzibar where fishermen earn substantial income, but their biggest challenge is managing those funds.
He emphasised that providing financial education will help change their approach. “Investing in capital markets carries no risks.
We must educate people so they understand that their money will be safe. Many are entirely unaware of these opportunities,” he stated.
He further stressed the need for financial innovation, expressing his expectations for positive outcomes that will help people make informed investment decisions and effectively utilise the investment desk.
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“The Postal Corporation is in safe hands and I believe this initiative will bring great results. The benefits of this investment desk are immense, offering every citizen a chance to contribute to a sustainable and inclusive digital economy,” Mohamed emphasised.
Chief Executive Officer of the Vertex International Securities, Mr Mateja Mgeta, said the initiative between Vertex and the Tanzania Postal Corporation, aims to improve access to capital markets in Tanzania.
However, he noted a gap in public participation in capital investment.
“This gap is largely due to misconceptions about investing. Many believe that investing in stocks is only for the wealthy, yet the required investment amount is small. The biggest challenge is financial education once addressed, economic empowerment will expand significantly,” Mgeta explained.
He stated that Vertex partnered with the Tanzania Postal Corporation to leverage its extensive network of over 500 branches nationwide, making it easier to reach many people.
“Our goal has two main aspects: Providing knowledge and enabling informed investment decisions. We believe education is the key to this initiative and we aim to make the process simple and accessible,” he said.
Mgeta emphasised that capital markets play a crucial role in generating employment and contributing to national development.
On his part, Postmaster Daniel Mbodo reaffirmed their commitment to ensuring this service reaches the public effectively through various postal centres.
“The investment desk will be available in all our offices nationwide, providing services for buying and selling shares,” he stated.
