NMB bank so far has loaned out over 600bn/-to Small and Medium Scale Entrepreneurs (SMEs), countrywide.
NMB Chief Financial Officer (CFO), Ruth Zaipuna said in Dar es Salaam that the loan benefited 200, 000 SMEs and enable them to expand business after obtaining extra capital.
In Tanga, the NMB Northern Zone Manager, Aikansia Muro, told the region Community Business Club members that the SMEs as well as others traders are still have an Presidingover,Tanga DistrictCommissioner (DC), Thobias Mwilapwa, appealed to the residents to come out en masse and exploit the opportunity to acquire more loans.
“To a great extent the loans have helped the traders to grow in their businesses, which were perhaps not picking up, but now they are able to sustain them and rise in economy,” he further said when inaugurate the club.
Most of meeting participants of the new Tanga busi- ness club happened to have loans from the bank.
Mr Muro, who is also responsible for projects in the loan centre department, said that lending small scale traders would enable them grow to become big business entrepreneurs in the future, and in turn make the country’s economy expand.
Presiding over, Tanga District Commissioner (DC), Thobias Mwilapwa, appealed to the residents to come out en masse and exploit the op- portunity.
“[You] should meet at least once in a year for the members to know one an- other, share ideas and experiences and project ahead,” Mr Mwilapwa said.
He said that the inauguration of the club was a good forum for traders to meet and networking.
“The bank is found every- where in the country, hence I would call upon you (the public), to open accounts and team with it for loans to do business,” said the DC.
NMB is one of the larg- est financial institutions in the country with a network of 229 branches.
In Tanga it has 12 branches.