Prime Minister Dr Mwigulu Nchemba has commended NMB Bank for expanding access to financial services through technology and rural banking initiatives, saying the efforts are helping bring banking closer to communities and supporting the country's economic transformation.
Speaking during a visit to the bank’s pavilion at the ongoing Nane Nane Agricultural Exhibition, Dr Nchemba said the government would continue improving the business environment and pursuing measures aimed at reducing the cost of financial transactions.
The Prime Minister noted that wider access to financial services remains crucial for enabling farmers, livestock keepers, fishers and small businesses to participate more effectively in the formal economy.
NMB’s Head of Government Business, Ms Vicky Bishubo, told the Prime Minister that the bank has maintained a strong focus on financing productive sectors, particularly agriculture, fisheries and livestock.
She said the lender has so far extended loans worth TZS 2.3 trillion to the three sectors, reflecting its commitment to supporting economic activities that employ a large share of Tanzanians.
According to Ms Bishubo, NMB is also using digital technology to improve access to credit among young people by offering loans of up to TZS 2 million without collateral or the need to visit a physical branch.
She added that the bank’s rural banking programme has expanded its reach to markets, livestock auction centres and trading hubs across the country, enabling customers in remote areas to access banking services more conveniently.
Beyond lending, Ms Bishubo said the bank continues to promote financial literacy through its NMB Kijiji Day programme, which provides communities with knowledge on savings, borrowing and financial management.
The bank is also working with higher learning institutions to help equip young people with skills relevant to a technology-driven economy, as demand grows for innovation and digital competencies in the labour market.
NMB is among Tanzania’s largest commercial banks and has in recent years increased investment in digital banking platforms as part of broader efforts to deepen financial inclusion and support economic growth.
