AfricaPress-Tanzania: NATIONAL Bank of Commerce (NBC) has pledged to continue supporting micro enterprises through the newly launched service known as ‘Kua Nasi’ Account.
NBC Chief Financial Officer Waziri Barnabas said the new platform would help small-scale business operators to smoothly transform their businesses through reliable and affordable banking services.
He said the new product would allow small enterprises to access banking services, including about 2 per cent interest rate per annum.
Mr Barnabas said food vendors, motorcyclists, saloon owners and small industries would be able to save and access money for their businesses.
“NBC Kua Nasi is one of the strategic plans to ensure every citizen has access to financial services that resembles their economic activities,” he said.
The bank has been challenged to improve the provision of financial education to ensure loans provided to entrepreneurs have a positive impact on business transformation from small to middle and even large businesses.
For his part, Temeke District Commissioner Godwin Gondwe commended NBC for creating the service that would allow low-income earners to have access to banking services.
“This account is a good fortune to small entrepreneurs in Temeke and the whole country because it allows saving money without monthly charges and its traders have access to financial education that will improve business performance,” he said.
He added that last year the government released 2.6bn/- loans to support small entrepreneurs through the service.
