{"id":109376,"date":"2024-04-25T20:30:09","date_gmt":"2024-04-25T20:30:09","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn"},"modified":"2024-04-25T21:22:13","modified_gmt":"2024-04-25T21:22:13","slug":"nmb-agri-financing-soars-to-1-6trn","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn","title":{"rendered":"NMB agri financing soars to 1.6trn\/-"},"content":{"rendered":"

Africa-Press – Tanzania. <\/strong><\/span>ZANZIBAR: <\/b>NMB on Wednesday said its agriculture financing has climbed to 1.6tri\/- as of last year as it seeks to make the sector more sustainable and enhance its contribution to economic growth.<\/p>\n

The lender\u2019s Chief Executive Officer, Ms Ruth Zaipuna, was speaking at the three-day Association of Local Authorities Tanzania 38th annual meeting, outlining the bank\u2019s catalytic financing to key economic sectors like agriculture to support the government efforts in driving up the socio-economic development agenda.<\/p>\n

\u201cOur significant successes in agriculture financing have been the continuous investment in sector knowledge, products and key partnerships with key stakeholders,\u201d she said.<\/p>\n

Ms Zaipuna said 400bn\/- out of 1.6tri\/- total agriculture loans were extended to farmers at a single digit interest rate of 9.0 per cent.<\/p>\n

ALSO READ: NMB supports over 500 orphans, vulnerable children in one month<\/p>\n

The 1.6tri\/- was dished out in over two years ago. She told over 500 ALAT delegates that the lender has been bankrolling sectoral growth, funding social welfare, supporting the government\u2019s fiscal initiatives and participating in advancing inclusive finance.<\/p>\n

The seasoned banker said the monumental contribution to bettering lives and aiding wealth generation would have been impossible without government endorsement which NMB works closely with in many development facets at all levels.<\/p>\n

Ms Zaipuna said the lender\u2019s constructive engagements in national development also include the huge corporate social investments it makes to support communities, citing the 8.0bn\/-set aside for this year.<\/p>\n

Out of that, she explained, 2.5bn\/- will be used to build a special secondary school in Dodoma and the remaining amount will be invested in the priority sectors of the bank\u2019s corporate giving policy, notably education, health and entrepreneurship.<\/p>\n

The bank\u2019s other recent major corporate philanthropy undertaking has been the Nuru Yangu Scholarship and Mentorship Programme which to date has provided scholarships to 130 bright college students hailing from poor families.<\/p>\n

On the financial inclusion front, Ms Zaipuna said, NMB continues relentlessly to include Tanzanians, especially those living upcountry into the formal financial sector and has recently debuted a special village banking strategy for them.<\/p>\n

\u201cNMB continues to take its services closer to the people and this year we launched a grand village banking scheme targeting to cover more than 1,000 villages without access to formal financial services, which initially will be served by agents,\u201d she noted in her remarks.<\/p>\n

Implementation of the strategy has included the use of the revolutionary NMB Pesa Account service where an opening amount is 1,000\/- The other major merit of the account is its instant connection to NMB Mkononi which enables customers to access up to 500,000\/- unsecured Mshiko Fasta digital loans without visiting an NMB branch.<\/p>\n

\u201cSince we officially launched it about two months ago, we have been able to open over 100,000 NMB Pesa accounts and the target is to open over 1.5 million new accounts by the end of this year,\u201d Ms Zaipuna pointed out.<\/p>\n

Attainment of the goal and accomplishing the noble village banking mission, she explained, is pegged on increasing the number of agents who have now increased to 34,000 across the country compared to only 10,000 in 2021.<\/p>\n

For More News And Analysis About Tanzania<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. ZANZIBAR: NMB on Wednesday said its agriculture financing has climbed to 1.6tri\/- as of last year as it seeks to make the sector more sustainable and enhance its contribution to economic growth. The lender\u2019s Chief Executive Officer, Ms Ruth Zaipuna, was speaking at the three-day Association of Local Authorities Tanzania 38th annual […]<\/p>\n","protected":false},"author":84,"featured_media":109375,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6990,6991,711],"class_list":["post-109376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nNMB agri financing soars to 1.6trn\/- Tanzania<\/title>\n<meta name=\"description\" content=\"ZANZIBAR: NMB on Wednesday said its agriculture financing has climbed to 1.6tri\/- as of last year as it seeks to ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NMB agri financing soars to 1.6trn\/-\" \/>\n<meta property=\"og:description\" content=\"ZANZIBAR: NMB on Wednesday said its agriculture financing has climbed to 1.6tri\/- as of last year as it seeks to ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-25T20:30:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-25T21:22:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/04\/sm_1714063522.839424.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"780\" \/>\n\t<meta property=\"og:image:height\" content=\"470\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"NMB agri financing soars to 1.6trn\/-\",\"datePublished\":\"2024-04-25T20:30:09+00:00\",\"dateModified\":\"2024-04-25T21:22:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn\"},\"wordCount\":536,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/04\/sm_1714063522.839424.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn\",\"name\":\"NMB agri financing soars to 1.6trn\/- Tanzania\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/04\/sm_1714063522.839424.jpg\",\"datePublished\":\"2024-04-25T20:30:09+00:00\",\"dateModified\":\"2024-04-25T21:22:13+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"ZANZIBAR: NMB on Wednesday said its agriculture financing has climbed to 1.6tri\/- as of last year as it seeks to ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/04\/sm_1714063522.839424.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/04\/sm_1714063522.839424.jpg\",\"width\":780,\"height\":470,\"caption\":\"NMB agri financing soars to 1.6trn\/-\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/tanzania\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NMB agri financing soars to 1.6trn\/-\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#website\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/\",\"name\":\"Tanzania\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/tanzania\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"NMB agri financing soars to 1.6trn\/- Tanzania","description":"ZANZIBAR: NMB on Wednesday said its agriculture financing has climbed to 1.6tri\/- as of last year as it seeks to ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn","og_locale":"en_US","og_type":"article","og_title":"NMB agri financing soars to 1.6trn\/-","og_description":"ZANZIBAR: NMB on Wednesday said its agriculture financing has climbed to 1.6tri\/- as of last year as it seeks to ...","og_url":"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn","og_site_name":"Tanzania","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2024-04-25T20:30:09+00:00","article_modified_time":"2024-04-25T21:22:13+00:00","og_image":[{"width":780,"height":470,"url":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/04\/sm_1714063522.839424.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"NMB agri financing soars to 1.6trn\/-","datePublished":"2024-04-25T20:30:09+00:00","dateModified":"2024-04-25T21:22:13+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn"},"wordCount":536,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/04\/sm_1714063522.839424.jpg","keywords":["Africa Press","Africa Press-Tanzania","tanzania"],"articleSection":["all news","Economy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn","url":"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn","name":"NMB agri financing soars to 1.6trn\/- Tanzania","isPartOf":{"@id":"https:\/\/www.africa-press.net\/tanzania\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/04\/sm_1714063522.839424.jpg","datePublished":"2024-04-25T20:30:09+00:00","dateModified":"2024-04-25T21:22:13+00:00","author":{"@id":"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"ZANZIBAR: NMB on Wednesday said its agriculture financing has climbed to 1.6tri\/- as of last year as it seeks to ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn#primaryimage","url":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/04\/sm_1714063522.839424.jpg","contentUrl":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/04\/sm_1714063522.839424.jpg","width":780,"height":470,"caption":"NMB agri financing soars to 1.6trn\/-"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/nmb-agri-financing-soars-to-1-6trn#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/tanzania\/"},{"@type":"ListItem","position":2,"name":"NMB agri financing soars to 1.6trn\/-"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/tanzania\/#website","url":"https:\/\/www.africa-press.net\/tanzania\/","name":"Tanzania","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/tanzania\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/posts\/109376","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/comments?post=109376"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/posts\/109376\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/media\/109375"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/media?parent=109376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/categories?post=109376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/tags?post=109376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}