NMB redesigns teachers’ financial package, awareness

NMB Bank is targeting to educate some 10,000 teachers on financial services in six regions while offering a special package to the group.

The lender, one of the largest banks in the country, figures to reach teachers in Rukwa, Katavi, Mbeya, Songwe, Njombe and Iringa under a special campaign dubbed ‘Mwalimu Spesho’.

The campaign has already reached some teachers in Mbeya, Songwe, Njombe and Iringa and on Monday met with 250 teachers in Sumbawanga, Rukwa.

The NMB Head of Personal Banking, Mr Ally Ngingite, said Mwalimu Spesho is a banking solution incorporating some of services for teachers while unveiling various opportunities available at the bank.

“Mwalimu Spesho’ package comprises all services—such as low-interest loans, financial education plus package for children education,” Mr Ngingite said during the NMB’s teachers meeting.

The package also includes microloans, house construction credit facility and loans for procuring vehicles including motorcycles and three-wheelers.

“We strongly believe that these teachers will help to pass on the knowledge they have acquired here about services provided by NMB to their colleagues and families as well as the whole society in general,” Mr Ngingite said.

He went ahead to explain that with about 20 million Tanzanians without a bank account but most of them owning mobile phones, “NMB has leveraged on the power of digital technologies to incorporate many people into the formal financial system.

“Through these digital financial solutions, NMB now undertakes 94 per cent of its transactions through mobile telephony,” Mr Ndingite said adding that the bank has recently debuted three major digital finance services that have transformed the local banking terrain.

The teachers will also be entitled to Insurance Premium Finance (IPF) to cover both life and property.

They will equally access finance to acquire farming inputs and machinery as well as participating in promotional drives and acquiring financial education plus many other benefits.

NMB Highlands Zone Manager Mr Straton Chilongola said the teachers’ conference was a special day that brings together the bank and its teaching clientele for notes sharing on various issues including getting feedback on how to better serve them.

It is also an opportunity for enlightening teachers on the progress of the bank and the many opportunities it has for them.

“NMB is committed to uplifting a common welfare of teachers across the country,” stressed Mr Chilongola.

The Sumbawanga District Commissioner Mr Sixtus  Mapunda, said NMB was the top bank when it comes to serving teachers.

“In terms of savings and lending products, NMB is among the leading banks in the country in terms of innovating solutions that cater for various market segments, including teachers and society as a whole,” said the DC.

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