Bank of Africa showers praise on government budget

Bank of Africa Tanzania managing director Adam Mihayo made the statement when commenting on the government’s 2023/24 budget recently read in parliament by Finance and Planning minister Mwigulu Nchemba.

Mr Mihayo said the budget has focused on the implementation of the blueprint for regulatory reforms to improve the business environment, whereby some of the measures already taken by the government include reducing bureaucracy, conflicting duties in public institutions and some taxes and charges.

He also said the government is inclined to continue implementing the budget and financial policies aimed at empowering the private sector including protecting the value of the shilling and ensuring that foreign currency reserves are sufficient.

He said Bank of Africa Tanzania has planned to invest in innovative services, products that will help improve the lives of many Tanzanians as well as the national economy.

He noted that the Bank has aimed to ensure that the speed of change is always in line with the changing needs of customers and Tanzanians in general. According to Mr Mihayo, the Bank continues to provide various quality services in the country and emphasises empowering small and medium-sized enterprises (SME), a move that is in line with the Government’s sixth phase agenda of promoting the inclusion of financial services in Tanzania.

The bank also continues to improve its digital services in order to attract more customers and make it easier for them to access its services.