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Issue No. 0933
December 10 - 16, 2016

Local News

TIB donates sh. 20m worth bodaboda to Arusha youth

By Arusha Times Correspondent

To help youth improve their income, eradicate poverty and reduce crime rate TIB Corporate Bank has donated ten motor cycles worth Sh. 20million for the unemployed young people in Arusha city.

The hand over took place last Saturday at the Sheikh Amri Abeid Stadium in the presence of the prime minister Kassim Majaliwa during his just-ended official visit to Arusha region.

"As a bank we feel obligated to contribute to this project in order to give it a kick start that will assist to reduce the burden unemployment on the government", said Frank Nyabundege, the managing director of TIB Corporate Bank during the hand-over.

He added; "We believe that if these motor cycles will be used effectively, they will create new employment opportunities and increase revenue for the region".

Prime minister Kassim Majaliwa (third from left) handing over some of
the 10 motor cycles which were purchased through a donation of Sh. 20 million
made by TIB Corporate Bank. The handover took place in Arusha on
Saturday last week.

The MD said the bank believes in youth as an important resource in elevating the national economy. According to him, the donation is part of TIB's contribution towards various development initiatives under its Corporate Social Responsibility. 

He appealed to other corporate companies in Arusha and philanthropists to contribute to the project in any capacity.

Earlier, the Arusha regional commissioner Mrisho Gambo said the donation has boosted the Arusha City Riders Project which is aimed at creating employment for hundreds of jobless youths and reduce the crime rate.

"As a region we have been facing an unemployment crisis among our youth which has led to a cross section of youth being tempted to join gangs and expose themselves to HIV. We believe that if we develop projects to help them generate income, we will succeed to reduce the prevalence of the problem", he said.

TIB Corporate Bank is a fully-fledged commercial bank and a subsidiary of TIB Development Bank (100 per cent owned by the Tanzania government).

The bank's vision is to be a bank of choice that will lead the way in product and service delivery. It offers a compliment of traditional banking products and services. Currently TIB Corporate Bank Limited has its headquarters in Dar es Salaam, Arusha, Mbeya and Mwanza. 

TIB Corporate Bank recently opened a new branch in Arusha as it expands its operations and help businesses to get access to the much-needed loans.

The bank - which has registered about 12,000 accounts during the past one year - is currently undertaking various projects in the endeavour to go closer to the clients.

"We want our customers to have an excellent banking experience... This is a premier section where we will offer advanced banking services.

"This section also has space for our customers to conduct their private business meetings," the MD Mr. Nyabundege said during the event.



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