Africa-Press – Tanzania. THE NMB Bank has rolled out Mastaboda loan scheme in Mwanza Region that can be accessed by more than 9,000 bodaboda operators from the area’s seven districts and eight councils.
NMB Bank’s Chief Executive Officer Ms Ruth Zaipuna said here yesterday that the 5bn/- Mastaboda loan scheme was first launched in Dar es Salaam, and thereafter in Mwanza, before spreading to other regions to reach more people countrywide.
For Mwanza region, she said the bank will reach over 9000 bodaboda operators, adding that there is an optimism to reach more clients in the highly populated Lake Zone regions of Mwanza, Kagera and Mara.
She further said apart from enabling the bodaboda operators to own their own motorcycles, the loans is also a part of a government programme to support in efforts addressing youth unemployment in the country.
“We have set aside 5bn/- for a start; an amount that will increase depending on the response and demand.
We have already launched this service in Dar es Salaam; today we are in Mwanza and we will go to Dodoma, Arusha and finally all regions,” said Ms Zaipuna.
Launching the service on behalf of the Mwanza Regional Commissioner, Magu District Commissioner, Mr Salum Kalli applauded NMB bank for concentrating on offering loans to bodaboda operators, who are mainly youth entrepreneurs.
“Bodaboda operators are an important group in the community due to their transport service in areas, where vehicles are not accessible; the government will continue improving their working environment, including ensuring their safety and security, ”said Mr Kalli However, he urged bodaboda riders through their groups to embrace motorcycle loans from the NMB bank, urging them to adhere to road safety rules and regulations.
According to the secretary general of the Mwanza region motorcyclists’ union, Mr Samuel Kigumi, the region has more than 9,000 bodaboda operators in all seven districts and eight councils.
Earlier, the Head of the Card Business from NMB Bank Headquarters, Mr Filbert Casmir mentioned motorcycle loan conditions as opening a bank account with them, using electronic payments (Mastacard QR) and being a Bodaboda group member.
“We urge those interested as loan beneficiaries to join groups, open a bank account and run it for at least three months, before applying for a loan to allow bank officials monitor their financial system and discipline,” said Casmir.
Other prerequisites were cited as one to have MastaBoda Road loans, possess a National Identity Card (NIDA), driving license and identification letter from the group leadership, according to the NMB Bank Chief Retail Banking, Mr Filbert Mponzi.
