{"id":27304,"date":"2021-04-19T17:23:53","date_gmt":"2021-04-19T17:23:53","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=27304"},"modified":"2021-04-19T16:34:05","modified_gmt":"2021-04-19T16:34:05","slug":"govt-asks-crdb-to-introduce-industrial-window","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-asks-crdb-to-introduce-industrial-window","title":{"rendered":"Govt asks CRDB to introduce industrial window"},"content":{"rendered":"

Africa-Press<\/a> – Tanzania<\/a>. <\/strong><\/span>GOVERNMENT has advised CRDB Bank, one of the largest lenders in the country, to set up a special industrial window to stimulate investment in the country.<\/p>\n

The government threw the advice over the weekend, saying it was high time for the lender to set up the window for small and large industries to access capital at affordable and special terms.<\/p>\n

Minister of State in the Prime Minister\u2019s Office (Investment), Mr Geoffrey Mwambe, said the CRDB has been at the forefront of supporting the country\u2019s development agenda and asked the bank chief to persuade others to join hands.<\/p>\n

\u201cI will organise a meeting with [Tanzania Bankers Association (TBA)] to discuss this in more detail,\u201d Minister Mwambe said. CRDB Chief Executive Officer Abdulmajid Nsekela is also the TBA Chairman.<\/p>\n

The bank last Saturday organised a virtual forum on investment, mainly of portfolio investment, which was attended by 3,000 viewers.<\/p>\n

The Minister also said in order for the private sector to make a significant contribution to the development of the nation, a conducive environment needs to be created to enable people and companies to realise their investment returns.<\/p>\n

For the government, he said, the government continues to improve the business environment by eliminating bureaucracy and reducing overlapping taxes and levies to cut down investment costs.<\/p>\n

\u201cIf CRDB enables these investors to invest in industry, the benefits are enormous not only to the economy but also to even the bank profit,\u201d the Minister said.<\/p>\n

Also, the government wants to overcome the tendency of exporting raw material and embarked on project of processing the raw material locally and exporting semi or finished goods.<\/p>\n

\u201cThe plan, for instance, in case of cotton, the strategy is to stop exporting raw cotton in next three years,\u201d Mr Mwambe said. Mr Nsekela said the seminar aimed at seeing more Tanzanians understand investment and its opportunities and the bank services that will turn them to be good investors.<\/p>\n

\u201cMost \u2018wananchi\u2019 are out of the formal financial system because they lack enough education and awareness,\u201d Mr Nsekela said. However, the bank, vowed to continue with such seminar, and believed the forum will enable many to access financial services and enjoy the opportunities available for direct and portfolio investments.<\/p>\n

CRDB Chairman Dr Ally Laay thanked Minister Mwambe for inviting the bank to co-operate with the government in implementing strategies to stimulate investment and assured him that the bank will develop a policy that will guide and regulate the setup of the industrial window.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. GOVERNMENT has advised CRDB Bank, one of the largest lenders in the country, to set up a special industrial window to stimulate investment in the country. The government threw the advice over the weekend, saying it was high time for the lender to set up the window for small and large industries […]<\/p>\n","protected":false},"author":84,"featured_media":27303,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6990,6991,711],"class_list":["post-27304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nGovt asks CRDB to introduce industrial window - Tanzania<\/title>\n<meta name=\"description\" content=\"GOVERNMENT has advised CRDB Bank, one of the largest lenders in the country, to set up a special industrial window to st ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-asks-crdb-to-introduce-industrial-window\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt asks CRDB to introduce industrial window\" \/>\n<meta property=\"og:description\" content=\"GOVERNMENT has advised CRDB Bank, one of the largest lenders in the country, to set up a special industrial window to st ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-asks-crdb-to-introduce-industrial-window\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-19T17:23:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/04\/img-607db0e1a50ef.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-asks-crdb-to-introduce-industrial-window#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-asks-crdb-to-introduce-industrial-window\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Govt asks CRDB to introduce industrial window\",\"datePublished\":\"2021-04-19T17:23:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-asks-crdb-to-introduce-industrial-window\"},\"wordCount\":422,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-asks-crdb-to-introduce-industrial-window#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/04\/img-607db0e1a50ef.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-asks-crdb-to-introduce-industrial-window#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-asks-crdb-to-introduce-industrial-window\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-asks-crdb-to-introduce-industrial-window\",\"name\":\"Govt asks CRDB to introduce industrial window - 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