IN a bid to promote agriculture and improve farmers’ welfare, NMB Bank has issued 22bn/- loans for farmers in Songwe region .
The bank said the loans were issued from their five branches located in the region one each at Mbozi, Tunduma, Mlowo, Mkwajuni and Ileje.
NMB Head of Micro, Small and Medium Enterprises Filbert Mponzi said they managed to lend Songwe’s farmer because of the good business environment laid down by the government for both lender and borrower.
“This is the right way to attract investors and we recognize their contributions, besides exposing areas’ potentials, where they should invest in,” Mr Mponzi said during the three-day Songwe’s Investment Forum that ended yesterday.
The forum was presided over by the Prime Minister Kassim Majaliwa who was presented by Minister of State in Prime Minister’s Office (Investment), Angellah Kairuki.
Also Songwe Regional Commissioner Brigadier General (rtd) Nicodemus Elius Mwangela who led the region investors and traders at the forum.
Mr Mponzi further said that NMB has been prioritizing agriculture promotion and small scale entrepreneurs to invest in economic activities which are vibrant.
“NMB has issued loans to over a million farmers [countrywide], especially in cashew nut, coffee, tobacco, cotton, rice, beans and maize cultivations,” he said.
Also issued loans to small and medium scale entrepreneurs and recognizing petty traders, who are majority in the informal sector in the country.
The government has 31.8 per cent stake in NMB. It has 225 branches and over 800 ATM, as well as 7000 agents serving over 3 million customers across the country.
