Minister urges banks to support Vision 2050

DAILY NEWS Reporter

DAR ES SALAAM: FINANCE Minister Ambassador Khamis Mussa Omar urged Tanzanian financial institutions to actively support the Tanzania Development Vision 2050, emphasising the...

sector’s key role in long-term economic transformation.

The minister made the remarks in Dar es Salaam during an NBC-hosted Iftar event attended by government officials, religious leaders and clients.

Ambassador Omar explained that the Tanzania Development Vision 2050 seeks to build a modern economy driven by investment, industrialisation, trade and digital innovation.

He stressed that achieving these ambitions will require strong participation from the financial sector.

The minister urged banks to move beyond traditional services and actively drive the country’s economic transformation.

“The Tanzania Development Vision 2050 aims to build a modern economy through investment, industry, trade and digital innovation, with banks playing a central role in driving this transformation,” he said.

The minister praised NBC for hosting the Iftar, highlighting how such events strengthen ties between banks, customers and the community.

He emphasised that a stable financial system and strong trust between institutions and customers are essential for economic growth.

NBC Board Chairman Dr Elirehema Doriye reaffirmed the bank’s commitment to hosting such events to strengthen stakeholder partnerships.

He said the bank values the contribution of its partners, including the government and its customers, in supporting its operations and growth.

NBC Managing Director, Theobald Sabi also expressed appreciation for the continued cooperation between the bank, government, religious leaders and customers.

Mr Sabi revealed that more than 43,000 customers currently use NBC’s Sharia-compliant banking window, with deposits exceeding 80bn/- and financing surpassing 46bn/-.