The Tanzania Postal Bank (TPB Bank) Limited has entered into a memorandum of understanding ( MoU) with the ''Zanzibar Social Security Fund,'' The latest milestone in an effort to improve access to finsce for life beginners, mainly graduates from higher learning institutions and those wishing to persue futher education. MoU between TPB Bank and Zanzibar Social Security Fund (ZSSF) is expected to facilitate funding for the pension Fund members to meet their priority like housing ( pay rent ) and furniture and futher education from the level of certificate to PhD...

The Tanzania Postal Bank (TPB Bank) Limited has entered into a memorandum of understanding ( MoU) with the ''Zanzibar Social Security Fund,'' 

The latest milestone in an effort to improve access to finsce for life beginners, mainly graduates from higher learning institutions and those wishing to persue futher education. MoU between TPB Bank and Zanzibar Social Security Fund (ZSSF) is expected to facilitate funding for the pension Fund members to meet their priority like housing ( pay rent ) and furniture and futher education from the level of certificate to PhD,

on condition  of being admitted to any recognised institution. ''This is a historical event as we sign ana MoU to support our people,'' Mr. Mkame Mwadini Silima, Managing Director, said before the signing ceremony at the Pension Fund's Building, Kilimani in the municipality. He commended the Bank for accepting to support the 'education and start up life loans' for its (ZSSF) members, saying the signing concludes the discussions which started in 2014.

TPB Bank provides loans to the ZSSF retired members. Speaaking on behalf of the TPB Bank, Mr Sabasaba Moshingi said the partnership will bwnwfit most of the ZSSF's 78,000 members improve life, urging  Tanzanians to use the opportunity. ''The Scheme reduces pressure when starting life urging young Tanzanians to use the opportunity. '' The scheme reduces pressure when starting life and search for higher education. I passsed through the same test 23 years ago when I started  life in Dr es Salaaam...,'' said Mr Moshingi, adding that similar programe has been implemented with Government Employees Pension Fund (GEPF) ad Public Service Pensions Fund (PSPF) in Dar es salaam. For those who ma be interested to benefit from educatuon and start up life loan they should  be members of ZSSF for at least six months and members of the fund for two years or more if they wish to apply for higher learning loans and accept 12 per cent interest. Zanzibar Social Securit Fund was established under the Zanzibar Security Fund Act. No.2 of 1998 (amended), currently providing 'old age benefit and maternity benefit.'