Tanzania, May 13 -- THE Bank of Tanzania (BoT) and commercial banks in the country have been challenged to develop effective programmes and customer services to enhance and broaden financial services for various groups, including retirees.

Deputy Minister of State, President's Office, Finance and Planning Juma Makungu Juma specifically advised retirees to invest their pensions wisely for sustainable and profitable returns.

He mentioned several bonds, such as Samia Infrastructure, Kijani, Jamii, Jasiri and Sukuk, as safe and promising investment opportunities that offer lucrative returns of up to 11 per cent annually.

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The deputy minister responded to a question from M...