Contractors Registration Board Annual Meeting set for 26th and 27th of May

The Contractors Registration Board (CRB) annual general meeting is set to take place this coming Thursday and Friday on 26th and 27th May respectively at Diamond Jubilee hall.

Sponsored by TIB Corporate bank, the meeting will be the winding up of the Annual General Meeting following the first meeting, which took place in Mwanza at Malaika Beach Hotel on May 5th and 6th. 

The event will carry the theme 'Deliberate Capacity Building of Contractors for Sustainable Economic Development; Challenges and Way forward'.During the Mwanza consultative meeting, contractors underscored the importance of financial empowerment as a means to enable local contractors to compete in the construction industry particularly in bidding, securing and executing contracts. 

This was amid reports that at least 65 per cent of projects undertaken by indigenous contractors were shoddy due to poor financial base and lack of professionalism.In its bid to support the performance of local contractors, TIB Corporate Bank introduced hassle-free loans to local contractors of various works aiming to build and strengthen contractors’ financial capacity and create a bigger room for them to play in the construction industry. 

The loan is extended for meeting working capital needs; purchase of construction equipment; and for providing bank guarantees for the purpose of earnest money deposit or security deposit. 

‘This special loan facility for the local contractors is tailor made in order to support and create a favourable operating enviroment, and thus enable them to compete with international contractors and thus contribute to the economy of the country’ said Frank Nyabundege, TIB Corporate Bank Managing Director.

The meeting in Dar es Salaam will also host an international Construction technology, products and services Exhibition