Skip to main content

Credit Suisse UK Applauds Tanzania’s Discipline of Project Delivery


By Special Reporter, Washington DC

Tanzanian Minister Mpango and the Credit Suisse official
EFFORTS by the Tanzanian opposition MP, Tundu Lissu, to tarnish image of the Government of Tanzania under President John Magufuli in European and American countries have gone in vain after the Tanzanian government has continued to receive much needed support on its implementation journey.  

Last month the German Chancellor, Angel Markel phoned the Tanzanian leader to assure the highest level cooperation of his country in various sectors including Tanzania’s industrialization drive.
The World Bank, after prolonged discussions, has also agreed to issue soft loans and grants totalling USD 1.7 billion to the government of Tanzania that will include an education package.  

Read more: https://africa-54.blogspot.com/2019/04/tanzania-agrees-17-bln-financing-deal.html
This time again, the Swiss biggest financial institution, Credit Suisse Bank (UK Branch) has pledged to continue supporting strategic investments implemented by the government of President Magufuli after being satisfied with the speed of loan re-payments and quality of projects implemented by the government of Tanzania.  

The Bank’s International Markets Director, Ms. Elizabeth Muchemi, made the commitments after meeting with the Tanzanian Minister of Finance and Planning Dr. Philip Mpango on the margins of the ongoing World Bank (WB) and International Monetary Fund (IMF) annuall conferences in Washington DC, USA, yesterday.

“Experience shows that Tanzania is implementing quality projects and is re-paying the Bank’s loans timely. This is different from many other countries. The value for money, too, is seen through the quality and speed of implementation of various projects. This is a unique character of the government of Tanzania,” Ms. Elizabeth said.       

On their part, Dr. Mpango and the Governor of the Bank of Tanzania Prof. Florence Luoga who are also attending the Washington sessions, thanked Ms. Elizabeth and her Bank for continuing to support transformation led focus of the President Magufuli.   

Dr. Mpango assured, Ms. Elizabeth, that Tanzania is prepared to implement quality projects particularly in sectors of oil and gas, electricity, roads, ports, aviation, marine transport and the construction of the East Africa’s Oil Pipeline from Uganda to Tanzania which requires heavy financial investments.

Moreover, Dr. Mpango told Ms. Elizabeth that Tanzania intends to use its strategic geo-location to service other land locked countries such as Burundi, Uganda, Rwanda, Malawi and Zambia by linking them to the Standard Gauge Railway (SGR), road and other infrastructures to boost their economies. Credit Suisse has already provided financial aid worth US 200 million dollars to Tanzania for

Comments

Post a Comment

Popular posts from this blog

Facts The Economist Got Them Wrong on Magufuli

DAR ES SALAAM, East Africa:  By Dr. Hernan Louise Verhofstadt* “ A BIT like President Donald Trump, Tanzania’s president, John Magufuli, likes to fire employees on television. In November Mr. Magufuli used a live broadcast from a small town in the north of the country summarily to dismiss two officials,” this is an extract from a recent online article I came across from the newspaper that I admired when I was growing up in Europe back in 1990’s; the Economist . Before I venture into other serious issues, the excerpts above contains gross factual errors; my own fact-check indicates that in the named public rally during the opening of Kagera Airport, there was no summary dismissal of the two officials instantly on television, as alleged. Instead, the two, one District Executive Directors for Bukoba Urban and another for Rural were relieved their duties later through a press release from President’s Office.   This is my prima impressio reading the Econom...
45 comments
Read more

Tundu Lissu, a despot in the shadow?

By Masinde Masondore, Montreal, Canada, 01-04-2018:  WHEN a learned politician brags of publicly embarrassing his President and counts it an honor while deliberately sabotages the nation's economic interests is a misfit in African traditions. 'Africans have had own ways of criticising the King, the way it happened in ancient Israel, however, in any case, the nation's interests were set apart from any sabotage," Gilbert Moshi. Tindu Lissu, a controversial Tanzanian opposition politician would be leaning on a wrong wall. He chose a road less travelled by learned individuals who mostly were rational. The road he walks and the philosophy he exhibit, only label him a tyranny of darkness. Any democratic leader, whether in opposition or ruling party ought to be totally enveloped in wisdom which prevents monumental errors of judgment. Lissu does not exhibit a minute of it. One of the pillars of customer-focused policies in the business world i...
10 comments
Read more

Magufuli Honours Promise As Dangote Factory Gets Direct Gas Supply

Production on of affordable cement now to start next month  By Correspondents Dar and Nairobi, 15:16 GMT Under his famed “delivery per se” policy, the government of Tanzania under President John Pombe Magufuli has finally confirmed that it has completed its phase mission of connecting Dangote cement plant in Mtwara, in the southern region of Tanzania, to the natural gas to generate the needed 35MW. Mr. Aliko Dangote in a tete a tete with President Magufuli at the inaugaration of the plant last year. Speaking at the end of his tour of the factory, the Energy Minister Dr. Medard Kalemani said the government was committed to supply the natural gas resource to enable Dangote cement plant access affordable energy for smooth cement production. The factory is one of the biggest cement plants in Southern Africa providing affordable cement to locals and countries in the vicinity. “I am telling you TPDC, if the factory delays to complete its i...
5 comments
Read more