INTRODUCTION

Many are the triumphs of Tanzania, The United Republic since 1964 having obtained its independence in 1961. Clear was the vision and the drive to liberate the country from Foreign oppression. Nothing but less has been achieved economically having the major part of the country budget financed by foreign countries. This review is not a pointer of weaknesses of the economic state of the country, but a spotlight of major improvement areas of and economic reforms highlights referencing the state of economic instruments, financial sector, business partners and the common consumer of Tanzanian products and services.

STRATEGIC VISION

“To reach 1 Billion Dollar Economy in Tanzania by 2027”.

ECONOMIC INDICATORS ADJUSTMENT

Let me carry you back to 1995 when president Benjamin William Mkapa came into power as the Commander in Chief of the United Republic of Tanzania. By that time the country budget was estimated to be 9 Billion Tanzanian Shillings holding the growing Tanzanian population of approximately 44 Million in 2002, according to the National Statistical Population Data. Now you can try to imagine the gap in income per head during that year, 1995 and the present year, 2023 where by the population of Tanzania is estimated to be 61,741,120. Allow me not to burden your comprehension of economic indicators and why there needs to be several adjustments to accommodate this growing population. First of all like a car dashboard, there are two gauges of motion, one for speed and another for acceleration. This is from classical Physics stipulated by the ancient scientist, Isaac Newton. Speed measures how much you are progressing while acceleration measures how you progress. You can go fast,  but travel less or travel longer and maintain the same speed. Acceleration is the variable factor while speed a ratio factor. Talking about the economy of a country, there are two gauges which measure its state, The Gross Domestic Product (GDP) and The Gross National Product. GDP is like the country economic speed while GNP is like acceleration of the economy. If you want to accelerate the economy, the best practice is to keep the GNP 20 percent and the GDP to 80 percent. CRDB Bank as the first commercial bank to obtain its license in financial sector in Tanzania offers various levels of economic levels of economic controls which catapults the economy in the right direction. Remember here, the goal of this review is to pinpoint improvement areas so that the country economy stirs in the right direction.

ENABLING INSTRUMENTS

Without further reduce, let me highlight some of the major instruments which carry the fabric of the economy of Tanzania as a country. The Bank of Tanzania (BOT) which provides the framework upon which monetary control and economic policy reforms happens, has a crucial role to standardise the rate of transacting  and to regulate the speed at which the economy is growing baring the national economic vision stated in the above discussion. Allow me to accolade the late Tanzanian Governor, Dr Beno Ndulu, who pinpointed the differences in foreign currencies in one of his interviews. I would like to quote his worlds concerning the Gross Domestic Product  with relation to foreign currency exchange. A bread in Europe is nothing but like a bread in America or in Tanzania, the question is how much is that same bread sold for. It is never about the currency, but how many breads are produced. If the goal is keep the Gross Domestic Product to 80 percent, then there needs to be many farmers of wheat, biologists of yeast, makers of breads and the market for such bread. You could ask me where is the market, but the number of Tanzanian population already explains the narrative. With branches all across the country allow me to use CRDB Bank as the first commercial bank to open channels for transacting so that the breads reach to the masses in timely manner. With Sim Banking Mobile applications now the northern part of Tanzania is like the eastern part, nothing less than the southern part but less crucial like the western part. Thanks to the Mobile Network Operators like Vodacom Tanzania who make this transformation communicable. You might start to ask what does this has to do with ScholarDream. The answer to that is the hungry child who cannot ask for bread, but has to carry a pencil trying to draw a yeast or cat full of hope to receive the crumbs from its masters table.

VALUE OPTIMISATION

This is where Tanzania as a country as a Sovereign state in East Africa head starts this crucial economy reforms journey. With major transactions happening on mobile devices, CRDB bank through digital transformation initiatives plans to optimise operational processes cutting down the turn around time of transaction completion while maintaining happy faces of customers who have bestowed the monetary secrets and financial position of their wallets. Having said that, allow me to finish one more paragraph of this review.

TRANSLATION OF VALUE TO THE SOCIETY

Like a plain field ready set for a tournament or trees so tall reaching the near sky, Customer happiness is value coefficient between the plane field of time and the sky high tree of economic prosperity. The Mathematics behind is the output of optimised operational processes  of the highlighted enabling instruments and the consumer base of Tanzanian population. This marks the end of this review with proper gratitude to CRDB Bank management, The Government of the United Republic of Tanzania, Mobile Network Operators, Consumers all across the country and most of all the Sovereign God who made this ideas writable.