HON. SAADA M. SALUM (MP), DEPUTY MINISTER FOR FINANCE DURING LAUNCHING CEREMONY OF ACCESS BANK (T) MWANZA BRANCH

wa Fedha Mhe. Saada M. Salum akiwa kwenye picha ya pamoja na Menejimenti ya Benki pamoja na Wajumbe wa Bodi ya Benki Access.Kutoka kulia Bw.Prosper Gwemela ambaye ni Meneja wa Benki ya Access Tawi la Mwanza,akifuatiwa na Bw. Roland Coulon Mtendaji Mkuu wa Benki ya Access,anayefuata ni Grace Rubambey Mjumbe wa Bodi ya Benki ya Access,akifuatiwa na Jaji Justice Mihayo ambaye nay eye ni mjumbe wa Bodi wa Benki hiyo ya Access.Kutoka kushoto ni Bw. Ophoro Lokey ambaye ni Mkuu wa kitengo cha miundo mbinu ya Benki akifuatiwa na Afisa yawala wa Mkoa ambaye amefuatiwa na Mkuu wa Wilaya ya Mwanza Bw. Nyamagama.Na nyuma ni Wananchi wa Mkoa wa Mwanza.

Naibu Waziri wa Fedha Mhe. Saada M. Salum akikata utepe kuashiria kufunguliwa kwa Benki ya Access Tawi la Mwanza.

STATEMENT BY HON. SAADA M. SALUM (MP), DEPUTY MINISTER FOR FINANCE DURING LAUNCHING CEREMONY OF ACCESS BANK (T) MWANZA BRANCH
Hon Justice Thomas Mihayo, ACCES Bank Board Member;
Mr. Roland Coulon, CEO;
Mr. Prosper William, Branch Manager;
Members of the Press;
Distinguished Guests;
Ladies and Gentlemen 2

Ladies and Gentlemen; It is indeed and great pleasure and I feel honored to be accorded this opportunity to officiate the launching of our new branch here in Mwanza. Much appreciation should also go to those who managed to make the event a reality. In particular, and on behalf of the Government I would like to acknowledge for the necessary efforts you are putting in place to ensure banking facilities with a special focus on microfinance reach the public.
I wish also to take this opportunity to thank and commend the Access Bank (Tanzania) Board of Directors and its Management for the timely decision to open this branch that will serve Mwanza population and neighboring regions.
Ladies and Gentlemen; banking sub sector plays a critical role in any country’s development process. The sector combines economic resources which generates a large pool of capital to enable large scale investment to happen. The Government therefore considers the banking sub sector as an important player in accelerating economic growth and reducing 3

Naibu Waziri wa Fedha Mhe. Saada M. Salum akisaini kitabu cha Wageni katika Benki ya Access Tawi la Mwanza. Picha zote na Ingiahedi Mduma na Ramadhan Omari- Mwanza

poverty in the country. To maximize the sub sector contribution, the Government since 1990’s initiated and implemented comprehensive financial sector reforms aimed to create an effective and efficient financial system in the economy. Liberalizing the banking industry, reviewing relevant legislations and restructuring most of the state owned financial institutions have been part of the reform aims. Currently several private banks and financial institutions are operating in the country, complemented also by many private forex bureaus and insurance companies. I take this opportunity to commend you for being responsive to the reforms to cater the population and global needs.
Mr. Chairman, Ladies and Gentlemen; I have also noted an impressive move by the banks to expand their networks so as to ensure many Tanzanians have access to banking services. Access Bank Tanzania which is socially responsible bank focusing on lower and middle income strata of the Tanzanian society has not left behind. With eight (8) branches all over Tanzania, the bank financial services are being accessed by 4

more than 100,000 customers of which 1500 customers joined Access Bank here in Mwanza (within two months). I urge the Bank Management to invest more to the research and development so that new financial products to serve the changing needs of the economy and population are put in place and served efficiently, diligently and with affordable costs. There is more percentage of population who is still not being served by the banks. Catering this segment will bring a huge benefit not only to the people, but the bank and the nation.
Mr. Chairman; a part from other incentives that Access Bank offers direct to its esteemed customers, likewise the Government greatly commends for your positive response for assisting the communities and particularly on 500 job created by Access Bank within five years of its operation in Tanzania. This is a wonderful commitment the Bank has made towards our people and especially on the youth. I encourage you to continue with this support. 5

Ladies and Gentlemen; the success of a bank in any country depends on sound financial policy of the host country. Our economy is still at infant stage, more people enter the money market and they need financial services and hence the banks must have outreach policies towards them. I believe the opening of this branch is a definite confirmation by Access Bank Tanzania that the country’s financial policy is conducive to the growth of the banking sector and this is what the Government strives to achieve.
Mr. Chairman, I would like once again to commend Access Bank Tanzania for complementing Government efforts aimed at reducing poverty by increasing investments in Tanzania. I would also like to commend you for your innovation in the development of products and services as well as network growth and availability; to bring banking and financial services closer to the Tanzanian people. It is my hope that the initiative you have taken to establish new branches in Mwanza and Kahama (in the next 4 months) will spread to other regions in 6

the near future for the people to get access and affordable banking services.
Mr. Chairman, Ladies and Gentlemen; after my explanation; allow me now to leave some of the challenges to you. Firstly you should move to reduce the cost of credit. Am told that some banks are lending as high as 21 percent, while offering a mere percent interest rates for saving deposits. I appeal to you to bring the cost of credit down to a reasonable level so as to expand your business by including small business.
The Gover

nment is creating a conducive environment through BoT by establishing credit reference. Please take this opportunity to reduce the cost of lending. Secondly, it is my contention that the financial sector has to act as a lubricant in the economy. I think you should visit SME’s operation sites, this will make you informed on how to support SMEs which is a fast growing sector and vital contribution to job creation, income generation and export growth. They are bankable and they are the potential of this country’s positive growth. Thirdly 7

as you might be aware of the increasing mobile banking services, I challenge the Access Bank to blend the mobile banking services and their services to bring to new convenience services to customers.
Mr. Chairman, Ladies and Gentlemen With these few remarks, I now have great pleasure to declare Access Bank Mwanza branch officially opened.
Thank you for your attention!

source THE HABARI