NMB Bank‘s branch network across the country has hit 228 after launching its 11th branch in Tanga Region mid this week re-affirming the bank’s commitment to take financial services closer to the people
The launch of the NMB branch located at Ngamiani area was witnessed by Tanga Regional Commissioner, Omary Mgumba, and other regional officials who at different times asked the lender to support the region’s efforts to attract investments.
“I urged Tanga residents to make use of the banking services like loans for investing in various economic activities including fishing, businesses and agriculture,” Tanga Regional Commissioner Omary Mgumba said.
Mgumba said launching of the new NMB branch is a positive sign of the growth of the economy and businesses in the region.
He said to achieve productive economic activities in the region, the contribution of NMB particularly through loan disbursement is of paramount importance.
“The government recognises the contribution of the financial sector particularly MMB in supporting economic activities in the country,” he said while commending NMB for continuing to invest in opening new bank branches to reach the financially underserved population.
He urged the bank to make special loan arrangements for people who want to invest in warehouses and inland container deport (ICDs) due to increasing demand for cargo passing through Tanga port.
Earlier, the NMB’s Chief of Wholesale Banking Alfred Shayo during the event said the bank started by setting aside 100bn/- for lending farmers at 10 per cent interest.Shayo said in a bid to support government’s quest to lower interest, NMB set aside again 100bn/- for lending farmers at 9 per cent interests.
He said in an effort to make bank Tanga Region attain its development goals, NMB has been making substantial support to cassava and sisal farming.
During the launching event of Ngamiani branch, NMB handed over 250 iron sheets worth 10m/- to Masiwani primary school.