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BOA FACILITATES SH300M GRADER FOR INDIAN OCEAN WALL - FINANCIAL-24

In Summary

Speaking at the event, the BOA Deputy Managing Director, Mr Wasia Mushi said Dezo Civil Contractors Limited - which is a client with the bank - had asked for the equipment and the bank agreed on terms that the money will be repaid in installments.

Dar es Salaam. Bank of Africa (BOA) has handed over a Sh300 million grader to city-based construction firm in the endeavor to facilitate the construction of a wall along the Indian Ocean coast. BOA handed over the grader to Dezo Civil Contractors Limited this morning under a lease finance arrangement.

Speaking at the event, the BOA Deputy Managing Director, Mr Wasia Mushi said Dezo Civil Contractors Limited - which is a client with the bank - had asked for the equipment and the bank agreed on terms that the money will be repaid in instalments.

"We hope that with this equipment, the company will be able to complete the construction on time," he said. Dezo Civil Engineering Company is jointly owned by investors from India and Tanzania.

The grader will help the company to swiftly build a wall that will run from the Aga Khan Hospital to State House. The company has won a tender to build the wall. Actual construction started in December last year and is expected to be completed in October this year.

The Citizen

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