Business - Exim Bank Tanzania has offered to train local traders to acquire knowledge and skills on how to access loans as a way to improve their businesses. The promise was made over the weekend by Exim Bank General Manger, Mr Dinesh Arora when speaking to traders at Temeke Stereo Market in Temeke District in Dar es Salaam during the overall cleanliness of the market as part of activities under the corporate social responsibility (CSR) initiatives.

He said at the event that drew praise from traders at the market he was happy to be associated with events aimed at supporting the community.

"Our participation here has given us a clear picture on how to tackle challenges facing the market and the local communities around.

It has also given us the opportunity to work with the people at the grassroots level," he said.

He said that the feedback they got from the traders at the market would help the bank provide entrepreneurship training especially on how to access loans offered by the financial institution.

He said the nature of business to most of local markets needs small capital and pledged the bank's support towards achieving that goal.

"Exim Bank is ready to help them achieve the goal," he said, adding: "We have come here to access the situation and the nature of business of the traders so that the bank can see how to support them," Mr Arora said.

On his part the Market Chairman, Mr Rajabu Kingalu thanked the bank for their visit which he said has opened doors of close co-operation between the two sides. He said they have a big challenge to ensure the market is always clean.

"The visit will act as catalyst for improved relationship and better understanding about our operations and the bank," he said.

The chairman said that majority of the traders fail to see a steady growth of their business for lack of capital.

"This is because we are facing a big challenge in repaying loans even when business has failed to make any headway," he said.

"We are happy to share a day with a financial institution like Exim Bank. We believe your visit will serve as a vehicle towards achieving better results in our business and the growth of the bank on the other side," he said. At present, the bank has 21 branches in the country.

It is the first bank to spread wings outside the country with a subsidiary in Djibouti and Comoro. The bank is also eying to open a subsidiary in Zambia.

Tanzania Daily News/19/09/2011