AfricaPress-Tanzania: THE Prime Minister Kassim Majaliwa has asked NMB Bank to enhance education provision to livestock keepers, farmers and fishermen so that they advance in their activitie
Thanking the bank for continuous education on financial matters to people in the agriculture sector, the Premier said such enlightenment makes them become financially stable.
Mr Majaliwa made the appeal, when he visited NMB pavilion at the climax of the Nanenane Agricultural Trade Fair held at national level at Nyakabindi, in Simiyu recently.
He said it was important and productive to educate a farmer on how to improve his farm activities with tools easily found in his disposal like land for him to sustain his business.
“If one is a herder, educate and estimate for him a budget depending on the tools he has, so that he knows how much to ask as a loan from (bank), if you do so many will be motivated, because they would say…so it is possible,” said Mr Majaliwa.
He further said the education should be narrowed on what a farmer/herder has, adding: “Approximate his herds of cow, for instance if it is five, estimate for him the amount of money as loan to take. Tell him to start with small loans, where you will see how he performs and remit back your interests, and don’t rush them into big loans, which would demoralise them.”
In response, NMB Chief Retail Banking, Filbert Mponzi, assured The PM that his bank would work on his directives.
He said the bank participated in the show to educate the public, who hail from different zones on how important financial matters are crucial in their activities.
Mr Mponzi said the education would build their capacity on how to save money, grow in business, and insure their produce against calamities as well as why it is important to secure loans for their agricultural growth.
“NMB recognizes that for an individual to prosper, he must have a sound basis on money expenditure, and during these exhibitions we managed to build a capacity of 52,700 Amcos’ leaders, who reach 141,060 farmers,” he added.
He said they mostly focused on improving farmers’ economic statuses, which made the bank scoop various awards among some financial institutions at the Nanenane Agricultural Trade Fair for Central, West and Northern Zones.
Explaining further, the bank Chief Retail Banking Officer noted that they have released over 800bn/- as loans to support the agricultural value chain.
