NBC pushes farmers into formal banking

RUVUMA: THE National Bank of Commerce has launched its “Wekeza NBC Shambani Ushinde” campaign in Ruvuma Region, targeting financial inclusion and productivity in agriculture.

The initiative focuses on improving financial literacy and access to services across key value chains of sesame, soybean, pigeon peas and tobacco in three districts namely Songea, Namtumbo and Tunduru.

Namtumbo District Administrative Secretary, Francis Ngoroka said during the launch that limited access to finance, knowledge and risk management tools has constrained growth in the region, thus highlighting the importance of integrating farmers into formal financial systems.

“This campaign lays a strong foundation for sustainable agricultural transformation,” he said. NBC’s Head of Retail and Agribusiness Banking, Raymond Urassa (pictured), said the four-month programme, running from June to September, will provide training alongside financial services such as crop and health insurance, agency banking, digital platforms and financing for inputs and mechanisation.

“We are offering zero monthly fee accounts,” Mr Urassa said. He added: “This is about building a financially empowered farming community.”

The campaign also includes incentives of smartphones, motorcycles and laptops, mostly to encourage participation among individual farmers and cooperative societies. Participants must open and actively use campaignlinked accounts.

Shida Ntine of Mliwasi AMCOS highlighted the importance of risk protection and financial skills.

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“For us, access to health and crop insurance is a game-changer, especially in managing risks that are beyond our control,” she said. “This initiative will truly make a difference in our lives and for our families.”

Another farmer, Ismail Said of Twendepamoja AMCOS, also pointed to the accessibility of the services as a key factor in uptake.