MBEYA: The National Bank of Commerce (NBC) has introduced an empowering campaign designed specifically for farmers and livestock keepers in the Rungwe and Kyela districts of Mbeya region to enhance their lives economically.
Through its ‘Shinda Machi Zako Kinamna Yako na NBC Shambani campaign, the initiative underscores the bank’s commitment to fostering growth in the agriculture and livestock sectors through inclusive economic practices bolstered by formal financial services.
The campaign was officially launched on Friday in Tukuyu, Rungwe district, under the leadership of District Commissioner Mr. Jaffar Haniu.
The event brought together a diverse array of stakeholders from the agriculture and livestock sectors, including leaders from primary societies and major cooperative societies for farmers and livestock keepers (AMCOS), along with other key players in the value chain.
Mr. Erick Mbeyale, Manager of the NBC Tukuyu branch, spearheaded the launch alongside other bank officials.
The campaign offers exciting opportunities for farmers and livestock keepers in Rungwe and Kyela to win a variety of prizes, including smartphones, motorcycles, and modern scales for weighing their produce.
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In his address, Mr. Haniu praised the bank for its ongoing efforts to support farmers and livestock keepers.
He emphasized that the campaign would significantly stimulate economic growth among stakeholders in the two vital sectors, particularly through an array of banking services tailored specifically for these communities, including accessible loan options.
“The strength of this campaign lies in its incorporation of financial discipline education for individual farmers and cooperative societies. This initiative will empower them to understand the importance of saving, the necessity for various insurance products such as health and agricultural insurance, and the value of investing in modern farming tools,” he said.
Mr. Haniu further highlighted the transformative impact of this campaign, stating, “This initiative is poised to encourage our farmers to embrace formal financial services, thereby enhancing the inclusivity of our economy. This marks a significant progression from previous years when farmers and livestock keepers were often viewed with skepticism by financial institutions due to concerns over reliability and collateral.”
Elaborating on the campaign, NBC Tukuyu Branch Manager Mr. Erick Mbeyale detailed that the initiative specifically aims to engage farmers, livestock keepers, and their representative societies that are served by the bank.
To be eligible for prizes, Mr. Mbeyale explained that individual farmers or livestock keepers must maintain account balances between 500,000/- and 3.5m/-, while AMCOS must hold between 50m/-and 100m/-.
“The primary objective of this campaign is to motivate farmers and livestock keepers to safeguard their funds within formal banking systems rather than relying on informal alternatives,” he emphasized.
Earlier in the program, Mr. Amani Swilla, NBC Bank’s Relationships Manager (Insurance) in Southern Highland Zone Tanzania, delivered insights on various insurance products available to farmers and livestock keepers through NBC.
He noted that the services provide crucial benefits, including health insurance, crop insurance, and vehicle insurance.
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“The availability of this essential insurance service ensures that farmers and livestock keepers can receive compensation in the event of crop losses due to natural disasters such as hailstorms, floods, fires, and other calamities,” he concluded.
This campaign not only seeks to empower farmers and livestock keepers economically but also to create a more inclusive financial environment that supports the backbone of our nation’s economy.
