TANZANIA POSTS SACCOS TO OWN BAGAMOYO PLOTS
BY THE GUARDIAN, TANZANIA REPORTER
30th May 2015
Chief
Executive Officer of Posta na Simu Savings & Credit Cooperative Society [SACCOS] Ltd Deogratias Ngalawa (L)
announces sales of 1,500 plots belonging to the cooperative in Msata,
Bagamoyo Region. He is flanked by chairman of the cooperative Lawrence
Mwasikili and administrative officer Jeremiah Miselya (R) during a press
conference held in Dar es Salaam on Thursday
Workers
of the state-run posts and telecommunications services have only a day
to make their dream for a modern village in Bagamoyo District, Coast Region, Tanzania, come true,
as the deadline for mortgage application from their Saccos to buy 1,500
plots in Msata area ends tomorrow.
Lawrence
Mwasikili, chairman of the Posta na Simu Saccos Ltd that involves
workers of the Tanzania Posts Corporation (TPC), Tanzania
Telecommunications Company (TTC), the Tanzania Postal Bank (TPB) and
Tanzania Communications Regulatory Authority (TCRA) told journalists in
Dar es Salaam Thursday that the applicants will have to pay a minimum of
Sh.2 million, or Sh.3.5 million and a maximum of Sh.5 million for a plot depending on
locations categorised in low, middle and prime areas respectively.
He
said the main objective of the scheme was not only to enable the
members to attain better housing, but to drive them into achieving
bigger loans in future requiring collateral of title deeds.
“It’s
obvious that some of our members own good houses, but there are others
who would like to get big loans but fail because they don’t have
collaterals,” he said, adding that they will acquire the plots at much
reduced rate compared to surveyed plots offered by other institutions.
He
asked his colleagues to secure the opportunity, given plans to sell the
left-out sites to non-member developers for Sh4,500 per square metre
in full amount cash or on endorsed amount in phases, after the deadline
as opposed to the Saccos members who will pay in two-year instalments
deducted from their salaries.
Backing
Mwasikili, the co-operative’s Chief Executive Officer, Deogratias
Ngalawa said the loan-ceiling of Sh.25 million was too low for a member with
higher ambitions involving greater amounts that require collateral
requisites.
SOURCE: THE GUARDIAN
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