Tuesday, May 10, 2016

Tata Holdings, I&M Bank enter into strategic alliance

Small lenders have previously cited the high cost of mobilising deposits as a key factor to their loans being more expensive. PHOTO | FILE
  PHOTO | FILE 
TATA Africa Holdings (Tanzania) Limited and I&M Bank (Tanzania) have entered into a strategic alliance to supply Tata vehicles at competitive prices and interest rates.

The alliance will benefit corporate, bus operators, medium and small enterprises and young Tanzanian entrepreneurs to finance their businesses through credit facilities of up to three years.
Tata Africa Holdings Regional Head Auto, East Africa Naresh Leekha and the bank’s Chief Executive Officer, Mr Baseer Mohamed, signed the Memorandum of Understanding (MoU) in Dar es Salaam recently.
Mr Baseer said the alliance will fortify the existing relations between two companies and helps in financing the growing sector of small and medium enterprises. Tata Africa Holdings (Tanzania) Limited is a subsidiary of Tata International Limited, whose part has been in Tanzania since 1994.
The firm trades in automobiles, construction equipment, chemicals, pharmaceuticals, glass, agro chemicals and agro-commodities.
at

No comments :

Post a Comment

Subscribe to: Post Comments ( Atom )