Dodoma. Prime Minister Dr Mwigulu Nchemba has commended NMB Bank for expanding access to financial services through technology and its Rural Banking initiative, saying wider availability of banking services is critical to increasing participation in productive sectors and accelerating economic growth.
Speaking after touring the bank’s pavilion at the National Nanenane Agricultural Exhibition at the John S. Malecela Grounds in Nzuguni, Dodoma yesterday, Dr Nchemba said the government will continue improving the business environment and reducing costs that hinder access to financial services.
“That will only be possible if financial services are available everywhere. Congratulations and keep moving forward. The Government will continue improving the operating environment and reducing the cost of financial transactions,” the Prime Minister said.
Earlier, welcoming the Prime Minister, NMB Bank Head of Government Business, Ms. Vicky Bishubo, reaffirmed the bank’s commitment to remaining a strategic partner in advancing agriculture and the entire value chain, including livestock and fisheries.
She said NMB has so far extended TSh 2.3 trillion in financing to the three sectors while using this year’s Nanenane exhibition to educate young people and other stakeholders about financial products and opportunities available through the bank.
According to Ms Bishubo, NMB’s digital lending platform enables eligible young entrepreneurs to access loans of up to Sh2 million without visiting a branch or providing collateral, making financing more accessible for productive activities.
She added that through its Rural Banking programme, NMB has expanded banking services to rural communities and livestock markets in Msalato, Kigwe and Shelui in Dodoma, as well as Tinde in Shinyanga, with another service point expected to open in Kiteto District, Manyara Region.
Beyond financing, the bank also runs its NMB Kijiji Day financial literacy programme, encouraging rural communities to open bank accounts with as little as Sh1,000, while partnering with the University of Dar es Salaam, the University of Dodoma and Nelson Mandela African Institution of Science and Technology to help prepare young innovators for the technology-driven economy.
The visit highlighted the growing role of the banking sector in supporting agriculture, youth entrepreneurship and financial inclusion by bringing banking services closer to communities across the country.
