Financial plan brings banks to villages


The government of the United Republic of Tanzania has released its 10-year financial plan for the year 2020 to 2030.

The plan is said to increase more opportunities for citizens to make and manage money including getting access to loans, better insurance policies, saving plans as well as investments.

The secretary to the ministry of finance and planning Mary Maganga says that the plan aims at giving rural areas more access to financial services.

Currently, only 8.6% of citizens in rural areas have access to banking services. This is low compared to the 32.1% that have access to banking services in towns.

Maganga also urged the ministry to think of creative ways that will assure that each citizen has access to their financial requirements. This would also mean an increase in government revenue thanks to increased taxpayers.