TANZANIA has made major progress over recent years towards putting into place a general policy environment which is more favorable for private sector expansion and sustainable economical development.

The country shifted from its previous reliance on control mechanisms to a predominantly market-oriented environment, particularly with respect to investment, external, monetary management and agricultural marketing arrangements. Restrict regulations and controls have been removed. The foreign exchange system is being completely liberalized for payments and transfers for current international transactions.

Progress has been made with the development of a more market-oriented financial system with the liberation interest rates. A sustainable number of both local and foreign banks and non-banking institutions have been established in order to provide short, medium and long term loans to investment.

Both local and foreign investors are encouraged to establish development banks. This is for venture capital and lease financing so as to match and facilitate the country's current pace with regard to investment and productivity.

Economic performance reacted favourable to the reforms in 1986 to 1995 with the rate of economic growth averaging at four per cent per annum up from two per cent during 1981 to 1985.

The most relevant long term development objective consists of stimulating and raising the level of productivity in the leading productive sectors of agriculture, manufacturing, mining and construction, trade restructuring the export sector and realizing the potential of tourism and human resources development.

For example in Mwanza Region's infrastructures of railway, Roads, airway and maritime transport have impressed banks to come to invest because of the access of EAC member states to increase lucrative business in the area.

Mwanza and the entire lake region is an integral part of the nation's economy as the biggest producers of cotton; the second largest agricultural export for Tanzania, fresh water fish and minerals.

It is therefore necessary for the region to benefit from a bank that will not only fulfill the domestic needs of its customers but also provide fresh opportunities through provision of affordable banking services to promote Pan- African and global trade.

And thus why recently Ecobank Tanzania started the Ecobank Inakuwezesha revolution that aims to empower the Tanzanian citizen by building capacity to identify and seize opportunities for growth and economic prosperity. When launching Ecobank kaluta Branch in Mwanza City, the Mwanza Region Eng.

Evarist Ndikilo said that through the initiative, Ecobank has been championing financial inclusion through financial literacy programmes for the public through media and training. He hailed Ecobank for not only focusing on financial capacity building, but also empowering Tanzanians to be more competitive with the rest of the world.

In that spirit, Ecobank recently sponsored stakeholders in the Cotton industry to attend the 11th meeting of the African Cotton Association held in March 2013 in Lomé Togo.

Through this platform, Tanzanian cotton growers were able to see what other countries are investing in to boost cotton production and also exposed Tanzania to new markets and growing export opportunities which will tremendously increase the economic potential of the lake region.

The Ecobank Tanzania Mr Enoch Osei-Safo said that in three consecutive years of bank implementation in the country Ecobank has managed to open eight branches in Dar es Salaam and Mwanza.

What mostly impresses Mwanza authorities and customers is that the bank provides 50 per cent loans to the small and medium entrepreneurs. Ecobank is one of the banks providing zonal banking quality services as a single business platform that would facilitate Tanzania's economy at the East African Common Market . This is in terms of Banks targeting the culture to care customers in the banking quality services of fast money transfer and western union cards, ECOTRADE, and Diaspora's account. It is by design that Ecobank chose Mwanza as the next city for Ecobank's expansion after Dar es Salaam here in Tanzania. Through our newest branch located at Kaluta Street, Ecobank has opened up the lake region to the endless possibilities offered by Ecobank's network across Africa and the world. I am sure most of you have heard a little bit about Ecobank and our commercial products. Therefore I would rather demonstrate some of the unique contributions that Ecobank has made to Tanzania and Mwanza as part of our African development agenda. "As we continue to interact and serve our customers, we will endeavour to provide services of the highest quality at affordable costs. Our doors are open to all individuals and business, big or small. We assure you that we have solutions that will meet your needs," said Mr Safo. Ecobank intends to grow with our customers and we therefore provide unique products that respond to African needs as we are an African bank built by Africans for Africa. The dream of shaping the banking landscape in Mwanza recently was obvious and the Ecobank Director welcomed all Mwanzanites on the Ecobank train. Ecobank inakuwezesha, pamoja tunaweza kwenda mbali. It is true that At Ecobank swank of seamless connectivity to over 38 economies in the world which are; 34 African countries including all members of the East African Community (EAC), China, France, UK and the United Arab Emirates (UAE). All this time Congolese fish traders have been travelling all the way from Congo to Mwanza with cash. Today, Ecobank is both in Mwanza and Congo, and other countries close to Tanzania they have now assurance of investing in Mwanza because of over eight banks in the area. The ecobank network in Africa incudes Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Congo (Brazzaville), the Democratic Republic of the Congo, Cote d'Ivoire, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Liberia, Malawi, Mali, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, Tanzania, Togo, Uganda, Zambia, Zimbabwe and Southern Sudan.