16 April 2018

Tanzania: MP Pushes for Rural Banking, Govt Responds

Dodoma — The Member of Parliament for Kalenga, Mr Godfrey Mgimwa (CCM) on Monday April 16 appealed to the government to invest more in rural banking as the best way to boost financial inclusion in the country.

Mr Mgimwa said in parliament in Dodoma that most banking services were more concentrated in urban areas, thus denying financial services to the rural majority in Tanzania.

During the question-answer session, the MP asked the government what efforts were being made to create a condusive environment for banks to open up branches in rural parts of the country.

The Deputy Minister of Finance and Planning, Dr Ashantu Kijaji responded, saying that Tanzania has made strides in financial inclusion but the government is working to improve rural electrification, security and other services in order to create an enabling environment for banking services in rural areas.

Dr Kijaji said, "Tanzania has scored highly in Africa when it comes to financial inclusion. The use of mobile banking has increased financial inclusion in many rural area."

However, the MP insisted that the government should make it a policy for banks to invest in rural areas, alongside improving rural infrastructure.

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