NBC launches agriculture financing campaign in Tanga
DAR ES SALAAM: The National Bank of Commerce (NBC) has expanded its agricultural financing and financial inclusion drive to Tanzania’s sisal-growing belt, launching its flagship “Wekeza NBC Shambani Ushinde” campaign in Tanga Region.
The initiative aims to increase access to formal financial services for farmers, livestock keepers and fisherfolk while supporting productivity and investment across agricultural value chains, particularly the sisal sector, one of Tanzania’s key export crops.
The campaign was launched in Korogwe District by Mombo Division Officer Alexander Mhando on behalf of the Korogwe District Commissioner. The event brought together stakeholders from the agriculture, livestock and fisheries sectors, including officials from the Sisal Board of Tanzania and leaders of cooperative societies. NBC was represented by Head of Strategy Msafiri Shayo, Head of Retail and Agribusiness Banking Raymond Urassa, and other senior officials.
Speaking at the launch, Mr. Mhando said the campaign aligns with government efforts to increase production of strategic crops, improve farmers’ incomes and drive rural economic growth.
He noted that the government has supported the growth of the sisal industry through the distribution of more than six million sisal seedlings, modernization of processing facilities and improvements in value-chain infrastructure.
According to Mr. Mhando, government efforts to attract investment into agriculture and expand international markets have boosted demand for Tanzanian sisal abroad, providing greater market opportunities for farmers.
He added that the revival of abandoned sisal estates and their allocation to farmers is already contributing to higher production and job creation across Tanga Region.
Mr. Mhando urged farmers, livestock keepers and fisherfolk to take advantage of opportunities offered through the campaign, including NBC Shambani accounts with no monthly maintenance fees, financing for agricultural inputs and equipment, financial literacy training, and health and crop insurance services.
He also highlighted NBC’s plan to facilitate about 4bn/- in financing for modern sisal processing machinery, known as Korona machines, to strengthen value addition and improve returns across the sisal value chain.
Providing further details, NBC Head of Strategy Msafiri Shayo said the bank continues to develop financial solutions that support efforts to increase agriculture’s contribution to the economy and accelerate sector growth.
He said NBC has invested in financial literacy programmes, digital banking services, agricultural financing products and insurance solutions designed to address risks in the sector.
During the four-month campaign, individual farmers, farmer groups and cooperative societies will have an opportunity to win prizes, including motorcycles and laptop computers, with a total value exceeding 35m/-.
NBC Head of Retail and Agribusiness Banking Raymond Urassa said the campaign is also intended to encourage farmers to use formal financial services, build financial records and improve access to credit.
He called on farmers, livestock keepers and fisherfolk to open NBC Shambani accounts and benefit from loans, insurance services, financial literacy programmes and other incentives available under the campaign.
Farmers attending the launch said they expect the initiative to improve financial awareness, expand access to capital and strengthen livelihoods that depend on agriculture, livestock keeping and fishing.
