Tanzania: Small contractors can now get equipment loans

Small scale contractors winning tenders from the government and other public and private institutions now have a reason to smile after a Dar es Salaam based company G.F. Trucks and Equipment Limited, introduced a loan issuance project to help them purchase modern construction equipment.

The firm’s marketing officer, Eustachius Katiti, told The Guardian at the on-going 35th Dar es Salaam International Trade Fair that to have the constructors access loans, his firm has entered a deal with Stanbic bank.

‘‘We have decided to support them because they fail to get construction tenders due to lack of equipment and funds,” he said.

Their failure to secure equipment and funds has made it easy for foreign contractors to seize the local opportunities.

“This is a new project designed to help them change their livelihood, be creditable contractors once they get tenders, help more contractors to get jobs, as well as help them provide better services,” he said.

Also, he said, “we want to show the Tanzanian people that even small scale contractors can do better jobs once they are supported in terms of funds or equipment.”

Construction equipment that could be secured on loan basis from the firm includes, XCMG Wheel loader, XCMG Motor Grader, XCMG Road roller, XCMG static roller, he said.

The firm has offices in Arusha, Dodoma, Morogoro, Iringa, Mbeya, Tanga, Mwanza and Songea, he said.

He said the company intends to start trucks and machines assembly soon within the country after obtaining a licence.

G.F. Trucks & Equipment Limited is the distributor of FAW Vehicles which ranks among the top manufacturers of vehicles and machines in China.
SOURCE: THE GUARDIAN