Multiple levies on the way out, pledges government

The government has promised to slash multiple levies, which have been cited by traders as a nuisance to give
them room to trade freely and contribute to the country’s economy.

The move is aimed at creating a better environment for businesses and enhancing the sector’s competitiveness in the country, said Professor Riziki Shemdoe, Permanent Secretary in the Ministry of Trade and Industry.

He said the government will dis- cuss with the lenders such as NMB Bank to set up plans that would en- able traders benefit from the busi- nesses through a friendly environment to boost the national coffers.

“The government will continue to review diverse levies that are nuisance, which hurt businesses and disrupt their future plans. We must look into that and abolish them. NMB and other banks should continue to review interest rates charged on loans since they were still high,” Prof Shemdoe said at NMB Business Club’s meeting in Dodoma recently.

Responding to a concern raised by the business community on fees and charges imposed by the bank, Mgeni urged them to read and understand legal and regulatory requirements to guide them of what they should pay for and for how much.

Joyce Kaishozi, NMB Business Club Chairperson, said their business activities have been impacted much by the novel COVID-19 pandemic, asking for the bank’s understanding of their losses.

Nsolo Mlozi, Central Zone Manag- er, said the bank had a large network connecting 230 branches nationwide, 7,000 agents and 800 ATM machines with 25 branches in the Central Zone.

“The bank’s plan is to make sure it reach- es customers and non-customers. Our in- tention is to better the lives of customers by taking the bank to the people and pro- viding customers with a platform to trans- act wherever and anytime,” said Mlozi.