Africa-Press – Tanzania. THE National Bank of Commerce (NBC) has inaugurated a pivotal campaign titled ‘Wekeza NBC Shambani Ushinde’ targeting sesame farmers in the Coast region.
The initiative is part of the bank’s broader commitment to bolster the agricultural sector, fostering an inclusive economy enriched by access to formal financial services.
The campaign launch in Kibaha yesterday was graced by the District Commissioner, Mr Nickson Simon, where the attendance attracted a diverse assembly of key stakeholders from the agricultural domain, including Deputy Registrar Mr Abdillahi Mutabazi, leaders from grassroots cooperatives, and representatives from apex agricultural marketing cooperatives (AMCOS), as well as other partners integral to the agricultural value chain.
Mr Raymond Urassa, NBC Bank Head of Small and Medium Enterprises (SMEs) and Agriculture played a pivotal role in the launch alongside other bank officials. According to him, the campaign aims to entice sesame farmers in the Coast region with the chance to win an array of prizes, ranging from motorcycles to laptops.
In his address, Mr Nickson commended NBC for its unwavering dedication to supporting farmers and pastoralists nationwide, with a significant focus on those in the Coast region.
He underscored the necessity for farmers to harness the growing interest from financial institutions to access a suite of services such as savings, loans, and insurance, ultimately enhancing their agricultural productivity.
“Today’s decisions prepare for tomorrow’s success. It is crucial for farmers, just like any other profession, to capitalize on the current connection with financial institutions, particularly NBC. By saving and securing loans, you can expand your agricultural operations and benefit from a plethora of banking services, including health and crop insurance. I am confident that this campaign will invigorate the economic landscape for all stakeholders involved in this vital sector,” he said
The event took an educational turn when Deputy Registrar Mr Abdillahi Mutabazi emphasized the importance of financial literacy for farmers, both as individuals and within cooperatives.
He noted that enhancing their understanding of saving, utilizing various insurance types—including health and agricultural insurance, and investing in modern farming technologies is essential for empowerment.
“This initiative marks a significant shift towards encouraging our farmers to engage with formal financial services, paving the way for a more inclusive economy. This is a remarkable advancement compared to previous years when farmers and pastoralists were often viewed as high-risk clients by financial institutions due to questionable integrity and inadequate collateral,” he elaborated.
Further detailing the campaign, Mr Urassa highlighted that the primary beneficiaries in the region will include sesame farmers organized through grassroots cooperatives and individual farmers with their NBC Shambani accounts.
“Our objective with this campaign is to inspire sesame farmers in the Coast region to secure their finances within formal banking systems rather than relying on informal alternatives. We warmly invite them to open NBC Shambani accounts to qualify for exciting prizes such as motorcycles and laptops,” he pointed out.
On behalf of the farming community, Mussa Hemedi Mng’eresa, Chairperson of the Pwani Cooperative Union (CORECU), urged local farmers to seize the opportunities presented by the bank’s campaign. He stressed that the multifaceted benefits, including prizes, financial education, loans, and essential services like health and crop insurance are designed to elevate their farming endeavors.
“The campaign promises not only to reward farmers but also to cultivate a culture of financial responsibility and sustainability within the agricultural sector. It further stands as a transformative opportunity for sesame farmers in our region to engage with formal financial services, paving the way for a prosperous future.’’ He mentioned.
For More News And Analysis About Tanzania Follow Africa-Press
