AfricaPress-Tanzania: BANK of AFRICA (BoA) Tanzania has hailed the 2020/2021national budget which focuses on areas of development including supporting the government efforts in fostering banking services as an engine of growth.
BoA Acting Managing Director, Mr Wasia Mushi told reporters in a news conference yesterday in Dar es Salaam the budget eyeing on speeding up national development and the bank pledged to continue supporting government on improving and providing banking services by introducing new products that are suitable for the domestic market.
“This budget which was tabled by the Minister for Finance, Dr Philip Mpango lay a hand on various sectors and eyeing also to collect more taxes,” for development docket Mr Mushi said.
He pointed out that this year government budget has come up with the new system of collecting taxes (Government Electronic Payment System, GePG) and the bank’s also joined the new government payment system.
The new system of collecting taxes for the government is an easiest way of increasing the revenues while fuelling the national economic growth.
He, also, hailed the government efforts in creating a conducive environment for the business people to continue doing business, investment and trade as without friendly business environment the government would experience difficulties in collecting taxes.
“Business people and bankers such as Bank of Africa need to continue supporting the government in its efforts in collecting taxes and expand new sources of revenues for the purpose of fuelling industrialization drive,” said Mr Mushi
Moreover, he assured customers who were affected by the Covid-19 pandemic that their bank’s has come up with the new product which is known as oxygen in order to assist them to regain the businesses status.
The new services will give more time for customers to refund their loans as well as pave the way for them to reposition themselves in their businesses.
“Not only that but also we hailed President, Dr John Magufuli for leading us Tanzanians during the Covid-19 pandemic that shocked the world but under his leadership Tanzanians has defeated the enemy,” he said.
The bank’s has also made various investments including 100million US dollars in the banking digital system that revamping and restructuring the ATM, mobile banking and networking systems.
Not only that but also the bank has been operating in the country for the last 13 years, with 11 cities and vowed to continue expanding their branches network across the country by also revamping and supporting businesses of their clients from corporate customers to Small and Medium entrepreneurs.
