The Vice President of the United Republic of Tanzania, Hon. Dr. Philip Mpango, has urged the Office of the President - ( TAMISEMI) and CRDB Bank to accompany the launch of the Samia Infrastructure Bond with accessible public education on financial and investment matters related to such opportunities.
This appeal was made during the bond's launch event at Mlimani City Hall in Dar es Salaam, where he highlighted the low financial literacy among citizens, as evidenced by a FinScope study indicating that only 18% of Tanzanians invest their savings in bonds.
He encouraged social security funds, insurance entities, savings and loan associations, and individual citizens to seize the investment potential of the Samia Infrastructure Fund, which offers a 12 percent annual return over five years.
Additionally, the Vice President called on the Rural and Urban Roads Agency (TARURA), the bond's beneficiary, to adopt modern technologies in road and bridge construction to enhance quality and reduce costs. He also stressed the need for TARURA to explore alternative funding sources, including concessional loans and partnerships with the private sector, to support the development of rural and urban infrastructure.
The Vice President has said that the agreement will enable TARURA to increase the network of rural and urban roads by involving local investors in the financing of infrastructure projects, promote cooperation with the Private Sector and ensure the construction and repair of roads managed by TARURA, is done on time so that those roads can be used throughout the year. It will also help to deal with the urgent needs of construction and repair of infrastructure caused by the damage of heavy rains and floods.
Likewise, the Vice President has said that the Sixth Phase Government is determined to continue the construction of road infrastructure to stimulate development in various sectors. He said the asphalt road network in the country has increased from 13,235.1 kilometers in 2020 to 15,366.36 kilometers in 2024. In addition, the budget of the Rural and Urban Roads Agency (TARURA) has continued to increase from Sh. 414.5 billion in 2019/20 to Sh. 841.2 billion in 2024/25.
