Make Use Of Local Finacials Services, Diaspora Told

THE Tanzanian Diaspora has been challenged to make full use of services offered by the various national pension funds, housing and financial institutions to purchase or venture into real estate back home.

Addressing Tanzanians living in Washington DC and neighbouring states on Saturday night, President Jakaya

Kikwete, said the government had tried its best to put in place favourable conditions to enable Tanzanians, both at home and abroad, own decent houses.

He told the gathering that in life there is nothing like home and that every sensible person would at one point in lifetime wish to go back to his or her roots. “I understand that lack of decent accommodation in Tanzania

holds back some of you from going back home and much as you may wish to have houses, financial difficulties don’t allow you to,” he noted. 

But he said that cognizant of the financial difficulties facing many people, he had directed the Ministry of Lands to provide plots and the pension funds, National Housing Corporation (NHC) and local financial institutions to work out modalities to enable Tanzanians access mortgage loans. “The facilities are there with very favourable re-payment terms; it is now up to you to grab the chance,” he told them exhorting those disinterested not to discourage the ones interested in the facilities. Azania Bank is one of the institutions

that provide mortgage loans, which are repayable in 15 years.

The bank’s Managing Director, Mr Charles Singili, who was present at the event, encouraged Tanzanians living abroad to take advantage of the mortgage facilities, which he said would enable one to own a house in a very short period of time.

Mr Singili also invited more Tanzanians living abroad to open accounts with the bank, assuring them of improved and expanded services.

The bank, he told them, has a special branch that deals with the Diaspora. The president also briefed the Tanzanians on the socio-economic developments, saying the economy was growing at an encouraging pace with notable achievements recorded in all core socioeconomic sectors including education, health, infrastructure, agriculture and in power supply.

On peace and security, he assured his audience that the country remained safe and calm save for the six bombings incidents that occurred in Arusha recently. “However, investigations into the incidents have reached advanced stage and most suspected criminals, including the core suspects, have been arrested and arraigned in court. Relevant authorities are still working on the matter to ensure all involved are apprehended and the entire network is destabilised,” he said.

He also told them that despite a few hitches, the constitution making process was going on and he was optimistic that it would be accomplished as planned.

The president urged the Diaspora to use the social media to provide useful input to the national document, including advancing their issue of dual citizenship, instead of discussing trivial issues. 

The Minister for Foreign Affairs and International Cooperation, Mr Bernard Membe, commended the president for his efforts to recognise and ensure full involvement of the Diaspora in national development.