THE DCB Commercial Bank has stamped its commitment to open a branch in Zanzibar as part of its resolve to support the government's efforts in boosting the blue economy.

The commitment was installed by the Managing Director of DCB Bank, Godfrey Ndalahwa, in the Isles Wednesday during his on-going week long tour there, accompanied by the bank's top-management delegation in a mission aimed at exploring options for investments in the Isles.

He said that DCB was well-positioned in various departments to support the blue economy agenda which is based on tapping of income from marine resources, by ensuring that it launches quality products in the Isles market to satisfy both individual and institutional customers.

"DCB has set foot in Zanzibar with a singular purpose of making sure that we support the efforts of Zanzibar President and the Chairman of the Revolutionary Council Dr Hussein Ali Mwinyi to establish a blue economy that has productivity in activities emanating therefrom for the people of Zanzibar," said Ndalahwa.

"Opportunities abound from the blue economy, and we at DCB are poised to offer financial services from the grassroots, starting with small and medium entrepreneurs, groups of entrepreneurs, women and the youth." Speaking with the DCB delegation including the MD, heads of business, sales, communication and marketing departments; the Minister of State in the President's Office, Employment, Economy and Investment, Mudrik Ramadhan Soraga said the ministry was ready to partner with DCB and other investors by putting in place conducive environment for investment in the Isles.

"The door is open for DCB in the Isles to support us to hoist the Zanzibar economy to higher heights, the government on its part is receptive to various challenges that will be presented by the bank," said Soraga.

Giving the short history of the bank, Mr Ndalahwa said the bank has been upgrading its status continuously from year to year since its inception in 2002 when it was incorporated as Dar es Salaam Community Bank to provide capital resources for small traders in Dar es Salaam.

Mr Ndalahwa said due to well planned strategies placed by the DCB management, the bank experience continual growth and improved performance in the market, up to the year 2012 when it met the criteria set by the Bank of Tanzania to be a fully fledged commercial bank, giving it mandate to offer all types of banking services countrywide.

"Over the last 20 years since its establishment, the bank has registered a lot of achievements, and the bank's profit has continued to grow from year to year, expanding its branch network to eight in the mainland, and extending the growth curve with the recent rebranding exercise," said the DCB chief executive.

"We have continued to improve our banking services through the application of digital technology and our agency banking facility, DCB Wakala, to ensure that even in places without our branches, Tanzanians can have access to and enjoy our quality services."

"It is high time the people in the Isles enjoyed and benefited from our banking services, including our banking services via mobile phones, that is DCB Digital, various credit services, including loans for school fees, teachers, groups of entrepreneurs, women groups, youth groups, and other credit services for small, medium and large traders" As part of the scheduled tour activities, the DCB Boss Godfrey Ndalahwa and his delegation have been meeting various government leaders and private sector players.

Copyright Tanzania Daily News. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English