PBZ branch links Isles, Morogoro rice farmers

By Guardian Reporter , The Guardian
Published at 06:00 AM Jul 10 2024
Rice farmers
Photo: File
Rice farmers

SERVICES of the Morogoro branch of the People’s Bank of Zanzibar (PBZ) will help in uniting rice farmers in Morogoro Region and those in Zanzibar as the majority of commercial farmers in the region come from Zanzibar, top officials affirm.

Hamza Hassan Juma, the Policy, Coordination and the House of Representatives state minister in the Zanzibar Second Vice President’s Office, made this affirmation in remarks at the opening of the PBZ branch, in a ceremony graced by Prime Minister Kassim Majaliwa.

PBZ managing director Arafat Haji said the launch of the branch will improve business between the Mainland and Zanzibar as Morogoro is a major producer of the key staple, rice.

Zanzibaris cultivating rice and other stakeholders will not have to travel to Dodoma, Dar es Salaam or other places to seek out appropriate banking services as Morogoro is now the connecting centre, he said.

In his remarks, the premier credited the significant strides made in the financial sector to good policies set by the government, bringing services closer to the people.

Through policy review, financial services have trickled down to the people in remote areas through a wide array of latter day financial institutions, he said, asserting that opening the new branch is part of efforts to advance the agenda championed by President Samia Suluhu Hassan to further elevate financial inclusion.

Lending and other facilities offered by the branch will spur economic growth and improve lives of the people in the area, he said, highlighting that along with offering bank services, the branch will contribute to new job openings, facilitating economic growth.

“This is due to the fact that banking services are important to spur economic growth and improve economic capacities for the public in general, so this is an opportunity for the people of Morogoro,” he stated.

Residents in the region need to use bank access opportunities to improve their lives, he added.