Wete communities urged to leverage inclusive financial services

PEMBA, ZANZIBAR: NORTH Pemba Regional Commissioner, Salama Mbarouk Khatib, has encouraged community groups in the Wete District to take advantage of inclusive financial services offered by financial institutions to drive local development.

Ms Khatib made the statement recently during the NMB Village Day Festival, which aimed to provide financial education and promote inclusive services to marginalised communities, particularly those in underserved areas.

“By utilising accessible financial products, the community-led initiatives can achieve sustainable growth and improved livelihoods, highlighting the importance of financial inclusion in fostering economic empowerment and progress in the region,” she said.

The event brought together community groups from Gando and Junguni villages, areas noted for a tendency to hoard cash at home.

Various topics were addressed in the seminar that involved more than 10 community groups with over 200 members from Gando and Junguni villages.

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She urged community groups to take full advantage of the opportunities presented by the festival and the new NMB Wete branch by opening accounts, depositing their savings and accessing insurance, affordable loans and other financial services.

She said that community groups in Gando have a tradition of keeping money at home, which presents a security risk.

The NMB Zanzibar Cluster Manager, Ms Naima Said Shaame, applauded the residents of Gando and Junguni for their active community groups, which include women, men and youths. She said that the NMB Village Day was focused on educating participants and ensuring they make the most of the bank’s services and opportunities.

Wete District Commissioner, Mr Abdallah Rashid Ali, thanked NMB for its commitment to providing inclusive financial services, noting that the opening of the NMB Wete branch is a clear demonstration of this.

He urged citizens to use the branch to drive personal, group and district economic growth.

A resident of Gando Chaoni and member of the Nyota Njema Group requested the bank’s support in boosting seaweed prices and opening both local and international market opportunities.