Africa-Press – Tanzania. DAR ES SALAAM: MWANGA Hakika Bank (MHB) has disbursed over 40bn/- loans to entrepreneurs in three and half years thus contributing significantly to business growth and economic growth.
The Bank’s Head of Retail Banking, Mwinyimkuu Ngalima said in Dar es Salaam on Wednesday that the loans provided during the period under review reached over 30,000 entrepreneurs.
“We are determined to continue supporting the growth of Micro, Small and Medium (MSEMs) and large businesses through providing tailor-made solutions that align with their needs,” he said when unveiling Fursa Loan service targeting small businesses. He said this year, Mwanga Hakika is targeting to reach and provide loans to more than 5,000 entrepreneurs in different parts of the country.
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“The MSEMs remains potential for economic growth hence they need to be provided with services that align with their needs and business nature,” he said. With Mwanga Hakika bank, customers will conveniently acquire loans using simple collaterals that align with the nature of business. In Tanzania, MSMEs constitute more than three million enterprises and contribute more than 27 per cent of the country’s GDP.
Besides, MSMEs are vital in achieving a wide range of the Sustainable Development Goals (SDGs).
This new service provides a rare opportunity to small scale entrepreneurs /micro enterprises like boda-boda, bajaji, taxi drivers and food vendors ‘Mamalishe’ to acquire loans with friendly requirements and affordable charges.
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