Standard Chartered Bank Tanzania’s Corporate Affairs Manager Beda Michael Biswalo (left) receives a shield acknowledging the banks drive to sponsors a tailor made media training seminar to rebrand Tanzania media organized by Capital Plus International and held in Dar es Salaam at the weekend. Right is CPI Event Moderator Dr. Ellen Otaru-Okoedion. Picture by correspondent

Standard Chartered Bank (Tanzania) Limited Chief Executive Officer, Mr Jeremy Awori (right) and the bank’s Head of Corporate Affairs Juanita Mramba follows proceedings of media training seminar organized by Capital Plus International (CPI) and sponsored by Stanchart to rebrand Tanzania media. The training was held in Dar es Salaam at the weekend.

By Correspondent

A senior banker sees media as a perfect tool to helping build country’s strong economy by focusing on positive news that portrays the  country as a best investment destination with vast business opportunities.

Speaking during a media training event to rebrand Tanzania media sponsored by Standard Chartered Bank and organized by Capital Plus International, the Standard Chartered Bank (Tanzania) Limited Chief Executive Officer, Mr Jeremy Awori challenged Tanzania media to be agents of positive change which is development oriented.

Mr. Awori said partnership between media and private sector –financial industry in this case- will help to bridge the gap currently seen in the country’s economy.

“A case study on financial industry shows that Tanzania still have a relatively under banked society, financial literacy is relatively low and product penetration is low and still evolving – which represents both an opportunity but also a challenge in terms of introducing new products but also explaining their worth to the potential customer for example bank assurance, credit cards which if used right can be of real benefit to customers.

“Whilst banks play their role in mobilizing deposits and then finding people or businesses to lend to there is a challenge; Only 35 per cent of all money is in banks or put another way two thirds (2/3rds) of all money never finds its way into banks there are many reasons why this is but one of them is lack of awareness of banking services and the advantages of saving.

“This is where media and banks can work together to improve awareness to encourage more people to use banking services,” said Mr Awori.

He said financial industry and media need to think about more ways to collaborate to raise awareness as these two sectors continue the journey of economic growth in the country which most importantly should alleviate poverty in the process.

In terms of Tanzania as an investment destination, Mr Awori said the media plays a key role.

He said investors read before coming and they read publications written by local journalists.

“If these are biased to the negative this affects whether they invest in the country or not. The challenge is that you must continue to pressurize stakeholders to do what is in the interests of the country, blow the whistle on any irregularities, corruption etc. Hold government and business to a high standard and when they fall short bring it to light. The challenge is in how to get the balance,” he said.

Mr Awori said the media need to focus on bringing the attention of the broader global business community the opportunities that exist in Tanzania adding that when they come and invest they bring jobs, capital, know how, skills and much more.

“The market then grows and by default media can benefit as the financial situation of many improves. They buy more and consume more, they buy your papers, watch your TV programs and that in turn feeds off itself and creates advertising opportunities. So as you can see we are whether we like it or not intrinsically joined together and this is why partnership is critical,” he said.