NBC launches “Shambani” campaign to support farmers in Songwe, Mbeya

SONGWE: THE National Bank of Commerce (NBC) has officially launched its ‘Wekeza NBC Shambani Ushinde’ campaign, aimed at farmers involved in various crop productions, with a special focus on coffee and sesame in the key agricultural regions of Songwe and Mbeya.

The initiative represents the bank’s dedication to promoting economic growth within the agricultural landscape and facilitating access to formal financial services.

The campaign was launched over the weekend in Mlowo, Mbozi District, by District Administrative Secretary Mr Mbwana Kambangwa, gathering diverse stakeholders from agriculture, livestock, and key value chain participants, including cooperative societies (AMCOS) leaders.

Presiding over the bank’s Head of Small and Medium Enterprises (SMEs) and Agriculture, Mr Raymond Urassa, played a pivotal role in the launch alongside other bank officials. The campaign promises to provide farmers and livestock keepers in the Songwe and Mbeya regions with opportunities to win exciting prizes, including motorcycles and laptops, aimed at encouraging greater engagement with banking services.

During his address, Mr Kambangwa praised NBC for its unwavering commitment to support farmers and livestock keepers across the nation, specifically highlighting the positive impact of the campaign on economic growth in the regions.

Equally, he emphasized the importance of offering tailored banking services, which include financial education and accessible loan options, to empower stakeholders in the agricultural sector.

“The true value of this campaign lies in its focus on providing financial literacy education to individual farmers and cooperative societies,” Mr Kambangwa pointed out.

Elaborating, he said that the initiative’s goal is to recognize the importance of saving, the necessity of various types of insurance, including health and agricultural insurance as well as the benefits of investing in modern agricultural tools and techniques.

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“This campaign marks a substantial improvement compared to previous years, when many farmers and livestock keepers were deemed untrustworthy by financial institutions due to issues of accountability and the lack of collateral,” he added.

Mr Kambangwa expressed optimism that the initiative would foster a stronger relationship between farmers and the financial sector, promoting an inclusive economy.

Expounding on the campaign’s mechanics, which will run until June 15, this year, Mr Urassa outlined that the initiative targets farmers engaged in diverse crop production, with a particular emphasis on coffee and sesame. The programme is set to benefit both primary societies and larger cooperative entities, as well as individual farmers who are clients of NBC.

To qualify for the motorcycle prize, individual farmers are required to maintain a minimum account balance of 5m/-. Cooperative societies, on the other hand, must deposit amounts between 5m/- and 50m/- in their NBC Shambani accounts to be eligible for laptops while maintaining a minimum balance of 50m/- for a chance to win the motorcycle.

“The overarching goal of this campaign is to encourage farmers and livestock keepers to transition their funds into formal financial systems, particularly personal banking, rather than relying on informal practices,” Mr Urassa said.

He extended a warm invitation to farmers, encouraging them to open NBC Shambani accounts to take advantage of these rewarding opportunities.

Representing the farmers, Mwanjelwa AMCOS Vice Chairman Mr Imani Luvanda, in Mbozi District, shared the challenges that local farmers have faced due to imposing account maintenance fees and the frequently enforced closure of inactive accounts. He noted that such practices have significantly eroded trust in formal financial institutions among the farming community.

“What really attracts us to the NBC Shambani account is the absence of charges, allowing farmers to genuinely reap benefits, along with the assurance that accounts will not be easily closed until two years have elapsed,” Mr Luvanda remarked.

He expressed his commitment to serve as an ambassador, spreading awareness about the advantages of the NBC Shambani account and the broader campaign among his peers.