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Friday 28 October 2016

BAYPORT FINANCIAL SERVICES INCREASES CUSTOMER BASE

At least 518,000 customers have regularly benefited from microcredit facilities offered by Bayport Financial services (BFS) in the past 10 years.

The company’s Executive Officer, Mr John Mbaga, said recently that since its establishment in 2006, BSF has played a crucial role of improving people’s lives. He said that in 2015 the company disbursed over 48bn/- for business operations.

Mr Mbaga said that over the last 10 years, the micro-credit firm has contributed significantly to improving the lives of thousands of Tanzanians through provision of credit to formally and informally employed individuals in emerging markets.

“It has been an exciting journey filled with achievements.

Without all our stakeholders, we would not have achieved these great milestones. Bayport Tanzania is growing stronger every year. As we march into the next decade, we are determined and committed to achieve even higher standards of excellence in providing our unmatched products and services in Tanzania,” noted Mbaga.

He added that the company’s desire is to improve lives of customers and give them opportunity to set strong foundation for the future generation. “Our desire is to improve the lives of our customers and give them opportunities that will benefit not just them but their children and the entire community,” he said.

Bayport, he further explained, had contributed to the growth of the national economy, having paid over 7bn/- in form of taxes in 2014 alone.

The credit provider is considered one of the ‘large tax payers’ in Tanzania. On the company’s human resource base, Mbaga said it has 300 permanent employees and a network of more than 1000 sales agents. According to the Integrated Labour Force Survey (ILFS-2014), the unemployment rate in Tanzania stood at 13.70 per cent.

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