Banking industry 'vital for improving Tanzanian housing'

Jul 26, 2012

The banking industry has a big role to play in improving Tanzania's housing stock, a government official has stated.

The banking industry has a big role to play in improving Tanzania's housing stock, a government official has stated.

According to Professor Anna Tibaijuka, initiatives designed to upgrade homes in the country could not succeed without the sector's backing, the Tanzania Daily News reports.

As a result, she has said she applauds Azania Bank Tanzania's decision to approve a loan for Tanzanian Financial Services for Underserved Settlements (TAFSUS).

This money can go towards enhancing 15 homes in the Mvuleni area of Kinondoni District - part of Dar es Salaam.

"It is the wish of my ministry to see other unplanned and underserved settlements in other towns also get support and their living standards are improved," Professor Tibaijuka commented.

She added that without the backing of banks and other financial institutions, ordinary citizens in Tanzania will find it very difficult to purchase a house.

Professor Tibaijuka made her comments while awarding the cheque to TAFSUS at a special ceremony.ADNFCR-2976-ID-801415878-ADNFCR