BoT buildings in Dar Es Salaam.
The Dodoma branch of the Bank of Tanzania (BoT) will be officially opened today and the inauguration of the central bank’s fifth branch will be graced by President Jakaya Kikwete.
BoT said in a statement that before opening for business this year, Dodoma and other central zone regions were being served by other BoT branches. “The construction and subsequent operations of the Bank of Tanzania Dodoma branch is a clear evidence of significant economic growth in the central zone regions and expansion of banking and financial services in the zone,” the statement reads in part.
Other branches of the bank are in Arusha, Mwanza, Zanzibar and Mbeya. Initially Dodoma and Iringa regions were being served by the Mbeya branch while Tabora was being served by Mwanza and Singida Region got services from the Arusha branch.
Construction of the Dodoma Branch started in 2010 and was completed in early 2015.
BoT said setting up of the branch was necessitated by growth of economic activities in the central zone and the increasing number of financial institutions operating in the area.
Currently there are 13 commercial banks with a total of 63 branches in the zone.
“It should also be borne in mind that Dodoma is the designated capital of the government of the United Republic of Tanzania thus it deserves to have a branch of the central bank,” the statement said
SOURCE: THE GUARDIAN
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