NMB Bank disburses 1.8trn/- in loans to 168,600 women SMEs in 10 months

NMB Bank has dished out over 1.8trn/- to 168,600 women Small and Medium Enterprises (SMEs) during the first 10 months (January to October) this year cementing the bank’s role in catalyzing sustainable economic growth.

This aligns with the bank’s ambitious strategy that seeks to enhance women’s economic empowerment across the country.

Speaking during a women networking event held by the bank in Dar es Salaam at the weekend, the NMB Bank Chief Shared Services Nenyuata Mejooli reiterated the bank’s commitment to supporting financial inclusion for women adding that her bank believes that women empowerment is a catalyst to sustainable socio-economic development.

“At NMB bank, we are committed to bridge the financial inclusion gap and we will continue to work towards our aspiration by extending banking services to the under-banked across the country including women. So far this year, we have already opened 2.3 million accounts for women this year,” Mejooli said.

Mejooli said that as part of fulfilling its commitment to women empowerment, her bank in November 2020, launched its ‘Jasiri Bond’ preposition, a platform that seeks to empower and drive financial inclusion for women across various sectors not only in Tanzania but Sub-Saharan Africa as well.

“The proceedings of the bond aimed at providing affordable financing to women-led businesses and businesses that directly affect women,” she added.

Mejooli noted that the bank will continue rolling out financial literacy campaigns across the country as part of its efforts to build capacity for various groups including women.

The NMB Bank Head of Business Alex Mgeni during the event noted that the bank has already embarked on plans to establish a national women database so as to ensure that it provides tailor-made banking services to women across various sectors.

“We have already identified some of the key sectors and our quest is to ensure that we bring on board all the women in our database. This database will ensure that we provide both tailor-made and timely banking services to women,” Mgeni said.