Why TZ’s mortgage market is smallest in East African bloc
Dr Mohammed Gharib Bilal, then Vice President, and Dr Lu Youqing (right), the Chinese ambassador to Tanzania, launch an Avic Town project in Kigamboni in Dar es Salaam in June 2015. Under the programme 5,000 housing units will be built in the next three years. PHOTO|FILE
What you need to know:
With Ujamaa (African socialism), the mentality then was to reject exploitation of the many by the few and analysts believe this has had an impact on every aspect of life of a Tanzanian, resulting into a retarded growth of entrepreneurship and indeed, the uptake of loans to undertake productive activities.
