Africa-Press – Tanzania. The HAZINA Savings and Credit Cooperative is looking for investors to develop the 22 hectares of land in Dodoma Region that will ultimately boost the cooperative’s financial muscles.
The General Manager of Hazina Saccos which is under the Ministry of Finance and Planning, Mr Festo Mwaipaja said the area would be invested in children’s games and shopping malls that will boost the cooperative’s earnings and capacity to lend to more members.
“As you can see Mlimani City in Dar es Salaam, we want to make the area the same, thus we are looking for investors to enter into a joint venture,” he said.
He said the premises will be a shopping centre where all services will be available including financial institutions like banks.
He also said Hazina Saccos has successfully provided services to a wide range of people.
“We are supporting the government’s efforts to improve housing.
We have allocated almost all residential plots which are over 600 plots that we bought and distributed to our members.
” he said.
Furthermore, he said they have helped Tanzanians with very little curiosity where they have lent their members to start a bicycle business.
Hazina SACCOS also offers loans for education, business, building, where it makes beneficiaries have peace of mind.
Mr Mwaipaja advises members to borrow from SACCOS that can benefit from their savings.
Hazina SACCOS Tanzania is for its members’ uplifting, development and improvement.
The association was formed in 1972 and officially registered on 21/03/1973 with at least 250 members; so far there are a total of 1275 members.
Mr Mwaipaja called on other SACCOS to observe the rules and objectives of their establishment so that they can be helpful to their members.
“The intention of Saccos is to save for them and help members.
If they are careful and serious, they can lend to their members at a low-interest rate and also get rid of loans from other places where they need to put a mortgage also their interest is often higher,” he said.
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