Azania Bank gives 65m/- to supports slam upgrading project

 Minister for Lands, Housing and Human Settlement Prof. Anna Tibaijuka speaks shortly before the launch of loan facility to support a project of upgrading conditions of houses in the unplanned and underserved settlements, held at Manzese Mvuleni ward in Kinondoni District, Dar es Salaam early this week. Azania Bank Tanzania gave out 65m/- to support the first phase of the project which is managed by Tanzanian Financial Services for Underserved Settlements (TAFSUS). Right is Managing Director of Azania Bank Tanzania Mr. Charles Singili and left is Board Chairman for TAFSUS Mr Salmon Odungo. Picture by correspondent.

Managing Director of Azania Bank Tanzania Mr. Charles Singili (right) hands over a dummy cheque to the Minister for Lands, Housing and Human Settlement Prof. Anna Tibaijuka during a short ceremony to launch  loan facility to support a project of upgrading conditions of houses in the unplanned and underserved settlements managed by Tanzanian Financial Services for Underserved Settlements (TAFSUS). The function was held early this week at Manzese Mvuleni ward in Kindondoni district, Dar es Salaam region. Picture by correspondent.

By Correspondent

Azania Bank Tanzania has dished out 65,158,000m/- as a soft loan to Tanzanian Financial Services for Underserved Settlements (TAFSUS) in support of its project of upgrading conditions of houses in the unplanned and underserved settlements.

 

According to TAFSUS, the loan will benefit 15 households in Manzese area Mvuleni ward, Kinondoni district in Dar es Salaam that will see beneficiaries improving the state of their houses.

Speaking during a short ceremony to hand over the cheque, Minister for Lands, Housing and Human Settlement Prof. Anna Tibaijuka said projects of improving housing conditions and settlements, anywhere in the world cannot succeed without the support of banking industry.

 

She said banks and other financial institutions in the country should be in the forefront to offer financial support to citizens who wish to buy houses or renovate the existing ones in order to help in upgrading values of houses in the unplanned and underserved settlements. 

 

"It is not easy for normal citizens to buy a house without the support of financial institutions like banks. It is against this background that I as a Minister for Lands Housing and Human Settlement want to applaud the move taken by Azania Bank Tanzania to partner with TAFSUS in a bid to support this project which was earmarked as a pilot project. It is the wish of my Ministry and the Government to see that other unplanned and underserved settlements in other towns in the country also gets support and their living standards are improved," said Prof. Tibaijuka.

 

Speaking shortly before welcoming the minister, the Managing Director of Azania Bank Tanzania, Mr. Charles Singili wanted the rest of Tanzanians dwelling in unplanned and unserviced settlements to team up by forming groups that will make it easy for them to access loans through organizations like TAFSUS and other financial institutions, loans that will be used in upgrading their living environment.

"Our bank is out to support such noble projects. What is required of you is to have a daring heart. Have an ambition and a strong will to transform your living environment. You can form groups as was done by 15 households in Mvuleni in order to ask for loans from us (banks) or organizations like TAFSUS,” he said.

Earlier, Board Chairman for TAFSUS Mr Salmon Odungo mentioned that about 457,337,900/= has been approved as loans meant for upgrading houses in unplanned and underserved settlements.

 

He wanted beneficiaries of the first bunch of this loan to show diligence in trying to keep up with the loan regulations in order to make sure that they repay the loan in time to give others and opportunity also to benefit from the project.

"We thank Azania bank for being the first bank to dare participate in this project, which will see improvement of unplanned and underserved settlements in our country. I would like to request other financial institutions to come up and support us in order to achieve the goal of ensuring that dwellers of the affected areas, don’t feel the neglected," said Mr. Odunga.