NMB Bank PLC has reiterated its resolve and commitment to support the government and national efforts to better provision of basic social services in the country.
The bank’s Chief of Retail Banking, Filbert Mponzi, said last week in Mbeya that the investment in improvement of social welfare does not only seek to better lives but also contribute meaningfully to overall national development.
Speaking at the handover of building materials for five schools in Mbeya City worth TZS 70 million, Mr Mponzi said it was for that reason NMB Bank has a social investment budget of one per cent of its annual net profit.
The lender’s corporate giving policy principally focuses on the education and health sectors as well as financial literacy and relief aid. In implementing the corporate social responsibility (CSR) agenda, last week NMB supported schools and health centres in three regions.
The CSR investments made in Mbeya, Singida and Kilimanjaro Regions were worth TZS 121 million. The beneficiaries included three secondary schools and two primary schools in Mbeya City where Mr Mponzi said giving back to the community was a key aspect of NMB’s operations.
“We do not only support schools with building materials and classroom furniture but also provide financial education whereby some 85,000 students have benefitted so far,” he noted at the handover event that was graced by Speaker Tulia Ackson
The secondary schools which each NMB supported with 200 iron sheets were Itgano, Itende and Iduda whereas Inyala and Ikuti primary schools got 100 desks each.
“We normally allocate one per cent of our profit after tax for CSR activities annually and in the last two years we have spent over TZS 300 million on social causes focusing mainly on education and health services,” he noted.
Dr Tulia thanked NMB for the investment saying the support has been timely in addressing accommodation and seating challenges in the city. Iduda counsellor Pishoni Taraban called on all stakeholders to join forces in improving the learning and teaching conditions in schools across the country.
In Singida, the bank financed the procurement of beds and desks worth TZS 31 million for schools in Iramba and Mkalama districts.
The NMB Central Zone Manager, Mr Nsolo Mlozi, said the 80 beds worth TZS 20 million went to Tumaini and Lumumba secondary schools, which are in Iramba. Two schools in the other district were supported with 100 desks worth TZS 11 million with each getting 50 desks.
The lender said the health sector support amounting to TZS 20 million was provided in Mwanga District.