Economic empowerment lobby bids nation to 'work harder'

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National Economic Empowerment Council executive Secretary Beng'I Issa (L) cuts a ribbon in Dar es Salaam yesterday.

 There is no short cut to success, instead Tanzanians are urged to work harder and smarter to realise their goals, Executive Director,
National Economic Empowerment Council (NEEC), Beng’I Issa told journalists yesterday.

 

“As we work hard to empower citizens, they too should strive to achieve their objectives and dreams,” she urged.

 

“We are in a better track toward becoming a middle income economy come 2025 but this will only be achieved if we all work together,” she said.

 

She said the country will need to have a per capita income of USD 3,000 to become a middle income country which means a lot of work is to be done because the per capita income now stands at USD 1038 per capita.

 

“We need to have factories to achieve this goal,” she said.

 

“The council works with other stakeholders such as the Postal Bank to make sure that the various groups in the informal sector get into the formal sector for the purpose of achieving sustainable development,” she said.

 

Giving an example, the NEEC boss said Tanzania has various Village Community Banks (VICOBA) groups which informally give loans to their members and that the government wants to channel such groups into the formal economic structure.

 

She also said that plans are a foot to educate and empower over a million bodaboda drivers in the country starting with Dar es Salaam, Kigoma, Dodoma regions.

 

“We are working with the Tanzania Private Sector Foundation (TPSF) to make sure that the private sector becomes competitive and more productive,” she said.

 

Tanzania Postal Bank Managing Director, Sabasaba Moshingi said his bank will continue working with NEEC to make sure that many Tanzanians are empowered and increase their income.

 

“Banking services are crucial in empowering people; we support the council in all endeavours to enable people own bank accounts,” he stressed.

He noted that the bank has more than 320 VICOBA accounts with more than 300m/-.

 

“This money is now safer,” he explained, adding that the bank extends low interest loans to depositors.