Tanzania: Cultivate Culture of Saving Money, Farmers Urged

Source from:  Tanzania Daily News  02/26/2014

TOBACCO farmers in Tabora have been urged to adopt a culture of saving money through banks and shun the current trend of spending it in marrying many wives and alcoholism.

The call was made by the NMB Western Zone Manager, Mr Abraham Augustino, during a press conference he held in his office here, adding that tobacco farmers have been spending monies in leisure and forgetting to save.

He said that the trend has also been source of chaos among families here as many husbands find themselves in loggerheads with their wives when they realise that monies have been spent unwisely.

Mr Augustino also advices farmers to consider investing to expand their sources of income and even building better homes and do things that would change their lives and contribute to the country's economic growth.

In another development, Mr Augustino urged farmers and other customers taking loans from the bank to use it wisely so that they get themselves out of poverty. He added that data has it that 90 per cent of loan recipients in the region spend monies in unproductive activities. "This trend makes many of those who take loans from various banks fail to repay and banks have no option but to auction collaterals," he said. Enditem