THE Moshi based Uchumi Commercial Bank Limited (UCB Limited) in Kilimanjaro Region has said it will continue to work with various institutions to support government’s efforts to strengthen small-scale entrepreneurs especially those in the agricultural sector.
The UCB Limited’s Credit Manager, Mr Israel Lyatuu said here over the weekend when talking to the small entrepreneurs operating under the Muslim Council of Tanzania (Bakwata) in the Kilimanjaro Region.
“To support the government’s efforts we have already lowered lending interest rates and to the level of a single digit, whereby we can now provide loans to small entrepreneurs which they can afford to repay on time,” he said.
He said the main goal was to ensure that business persons who could not afford the services provided by other financial institutions were able to access them through UCB Limited, whereby they could get loans at affordable rates.
In its efforts to bring closer its services, the bank has also already opened branches in Karatu, Arusha Region and Siha in the Kilimanjaro Region.
“Our services are also available in many other areas through our agents; our goal is to ensure that our financial services reach as many people and small business groups regardless of their religious affiliations,” he said.
For his part, the Secretary of Bakwata in Kilimanjaro Region, Mr Awadh Lema, thanked UCB Limited for the co-operation it provides for the groups under Bakwata, including the women entrepreneurship groups.
“UCB Limited’s services have given hope to small business persons, especially those who did not know if they could share the services provided by financial institutions on the assumption that they apply only to the rich and large companies,” he said.