President Samia Suluhu Hassan has won hearts of several global financial institutions during her 100 days in office, with the World Bank endorsing over 2tri/-, to support the country's development projects.
According to Finance and Planning Minister, Dr. Mwigulu Nchemba, the funds will mainly be channeled towards financing big development projects in rural areas in order to bring multiple effects, including increasing purchase power among rural Tanzanians. "We are going to make a huge purchasing power in our people as per the President's directives," the Minister said yesterday in Dar es Salaam at a Forum organised by the Tanzania National Business Council (TNBC), specifically to discuss 100 days of President Samia in power. He added: "This is what the 2021/22 budget intends to do upon directives and goals of President Samia she has shown during these 100 days."
He said the Government has allocated over 3tri/- to implement development projects in rural areas during the next financial year, including roads, water and education infrastructures. Dr. Nchemba said President Samia has succeeded in winning the trust of global funders. On his part, the Minister of State in the Prime Minister's Office (Investment), Mr. Geoffrey Mwambe, said President Samia has managed to build confidence among private sector players - a significant component for the growth of business and investment sector. "The President is a consensus builder; within 100 days, she has been emphasizing on cooperation and engagement in resolving problems," Mr. Mwambe explained.
For instance, Minister Mwambe said, over the weekend the Government unfroze all bank accounts belonging to business people who are tax defaulters. This came after the President sought consensus that the defaulters could have their accounts opened and continue doing business, while the Government also called upon them to settle the unpaid taxes. He said President Samia has in 100 days shown intent to build a strong and vibrant private sector that would help the government create more jobs and attain the target of creating 8 million jobs by 2025. "In 100 days the President proved that she is a visionary leader, she has shown where she wants to take us to," he stressed.
In his remarks, the Minister for Industries and Trade Prof. Kitila Mkumbo said President Samia managed to clear some doubts among Tanzanians over continuity over three issues after the death of fifth-phase President John Magufuli. There was the issue of peace and tranquility, carrying on implementation of big projects initiated by the late Magufuli as well as removing doubts among businesspersons and investors over their activities. Prof. Mkumbo noted that the President has succeeded in creating a good political climate for attracting investors, urging the Tanzanian private sector to brace for competitiveness.