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CHINA Dasheng Bank Limited, which opens in Dar es Salaam, is a testament to the growing confidence of Chinese investors in Tanzania's development prospects, said Chinese Ambassador Wang Ke. Expressing at the official inauguration of the bank formed of private enterprises and the Chinese state with an initial capital of 40 million, the envoy said that the new bank testified to Chinese investors' optimism about Tanzania's future prospects.
"The advent of this bank testifies to the confidence of Chinese investors in Tanzania's development prospects," she said at the inauguration ceremony organized by the Dar es Salaam regional commissioner. , Paul Makonda, this weekend.
The opening of the bank also took place in the context of the thriving Sino-Tanzanian bilateral relations in which China is the largest source of foreign direct investment ($ 7.0 billion) and trade reached $ 3.4 billion in 2017, she said.
Ambassador Wang Ke said China Dasheng Bank was the first fruit of investment cooperation between China and Tanzania since the Sino-African Cooperation Forum (FOCAC) held in Beijing in November. last September. She fell into the financial connectivity Belt and Road.
The China Belt and Road Initiative (BIS) is an ambitious program aimed at connecting Asia to Africa and Europe via land and sea networks along the coast. six corridors in order to enhance regional integration, increase trade and stimulate economic growth.
She added that she hoped that the new bank would facilitate trade and economic relations between China and Tanzania and that the country's banking sector would benefit from new skills, professionalism and technology. peak.
"I hope that China Dasheng Bank will fully exploit its benefits, such as professionalism and technology, and help promote the development of trade and investment between China and Tanzania," she said.
"I would like to call for the BoT (Bank of Tanzania, the regulator), the government and the Dar es Salaam region to be more attentive and supported." Dar es Salaam Regional Commissioner Paul Makonda congratulated the shareholders on his decision to create the bank, saying it was of great importance to the economy of the country and the Dar es Salaam region in particular.
He said China and Tanzania have cordial relations in the areas of health, culture, sports, education and trade, as Chinese companies across the country testify. He cited the docking of the floating hospital in China, known as the Ark of Peace in the port of Dar es Salaam last year, with doctors and all the medical control centers and medicines where 6,400 Tanzanians received medical treatment.
"The Chinese hospital ship moored in Dar last year with doctors treated thousands of Tanzanians and, at the request of President (John) Magufuli, Tanzanian doctors received a Chinese government scholarship to continue their studies. in China, "he said.
He said the infrastructure projects undertaken by Chinese entrepreneurs with financial and technical support from China were testimonies showing that Tanzania enjoyed a prosperous bilateral relationship with China.
"When I go to China and see Chinese people, I feel like I'm with my blood relatives," he said. China Dasheng Bank Limited, a full-fledged commercial bank, was established to tap the growing Chinese trade and investment in Tanzania and boost the use of the renminbi, China's official currency.
It aims to support China-funded projects in Tanzania and provide credit to individuals and businesses doing business with China, said board chairman Ji Jiaqin.
He told reporters last week in Dar es Salaam that with his initial capital of $ 40 million, the bank would also create an RMB clearing and settlement center focused on the African region. from the East in order to allow customers to negotiate directly in renminbi.
"There are a lot of Chinese companies in Tanzania, including public and private companies," he said at a meeting with media staff. "We plan to actively participate in the construction of the RMB clearing center in East Africa and wish to become the RMB clearing / settlement center in Tanzania and reduce exchange losses when trading between the two currencies. . "
Chinese nationals come to Tanzania to do business and work on construction projects funded by the Chinese government and other private companies, while Tanzanians travel to the Asian country to buy Chinese goods.
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