NMB Bank has pointed out on the need for insuring businesses against all forms of risks and possible losses that will guarantee growth and sustainability.
The NMB Chief of Retail Banking, Filbert Mponzi, said in Dar es Salaam over the weekend that businesses are exposed to different kinds of risks and possible losses, which can only be rescued through insurance cover.
“Accessing finance from the bank is one and important aspect for business growth but insuring against risks is of paramount importance and guarantee its sustainability,” he said mentioning fire, theft and other catastrophic losses as some of the risks that most businesses are prone to.
With the widest network of over 225 branches spread in almost all district councils in the country, Mr Mponzi said the NMB is positioned to provide bancassurance services to reach more people both customers and non customers.
Mr Mponzi was speaking in a workshop that attracted over 300 entrepreneurs who forms the NMB Dar es Salaam business club.
Through NMB bancassurance services, Tanzanians can buy insurance cover and process claims through its branches.
The NMB Business club is a platform for all micro, small and medium enterprise customers where members have the opportunity to meet and share business ideas and best market practices and also enjoy training for different business topics.
The NMB Dar es Salaam business club chairperson, Bahati Njomba said after getting knowledge on NMB bancassurance services, decided to insure her business as well as providing other insurance products to her children.
“I started borrowing only 5m/-several years ago and have managed to grow with the NMB bank that now can borrow up to 150m/-,” she said while urging other entrepreneurs to insure their businesses.
The Senior Manager, NMB Bancassurance, Martin Massawe told entrepreneurs’ workshop said apart from offering efficient and reliable insurance services, NMB widest network guarantee customers services close to their surroundings.
“I appeal to the general public to purchase the right insurance covers from NMB Bank and avoid being taken by surprise with unexpected life events,” said Massawe.
An entrepreneur and victim of fire that gutted Tegeta Nyuki market Mr Godwin Rwechungura testified to the workshop participants how NMB Bank through bancassurance services assured him compensation of the losses.
“I have been working and growing with NMB bank for over 10 years through various loan products which are insured. Through the hope to get back to business after losses was rejuvenated,” he said.
Through NMB Bank, Customers and Non Customers will now be able to get insurance covers from six insurance companies-Reliance, Sanlam Life, Jubilee, National Insurance Company, Z anzibar Insurance Company and UAP Insurance.
NMB Bank through all its branches now offer all insurance retail products from insurance partners, namely, but not limited to Motor, Health Insurance, Property, Life, bonds and Agriculture Insurance.
On his part, the NMB Senior Manager Digital Banking, Tito Mangesho, said apart from providing insurance services to secure businesses from risks and losses, NMB also provides digital services namely NMB Mkononi, Mastercard QR Code and variety of other electronic cards which can play key role in enhancing efficiency of their businesses.
For example, the NMB Mkononi enhances customers’ accessibility and convenience to accessing financial services with ease.
With NMB Mkononi, a customer is able to effect various payments including taxes through the government electronic payment system, where taxes and fees like customs duty, domestic revenue collection, Tamisemi, BRELA, Tanesco, TRA, Police fines, digital passport fees (Immigration), water utilities as well as TPA.
