NMB urges businesspeople to tap its vast lending capacity

MBEYA: NMB Bank has encouraged businesspeople to take advantage of its over 500bn/- lending capacity for investments in agriculture, livestock, manufacturing and mining, thus strengthening productive sectors and fuelling economic growth.

The remarks were made by Head of Business Banking at NMB, Alex Mgeni during a recent event in Mbeya with business leaders from the Southern Highlands, key clients of the bank’s NMB Business Club.

“The aim of providing these loans is to grow our customers’ activities. We offer loans through various solutions tailored to the amount each customer needs,” he said.

Mgeni also encouraged customers to continue using NMB’s digital services, including NMB Mobile and Internet Banking, saying, “These services are designed to save customers time and reduce the cost of visiting branches.”

ALSO READ: Bond auction tests appetite amid easing

He added that the bank has introduced a clean cooking energy loan for businesses, with interest rates of 1 per cent per month or 12 per cent annually.

The Head of NMB’s Agriculture Unit, Nsolo Mlozi noted that many clients in the Southern Highlands are engaged in the agricultural value chain borrowing to buy farm machinery, transport vehicles, produce, or inputs.

He said crops like potatoes and rice have shifted from food to commercial use due to increased production.

“We also plan to offer loans for irrigation equipment to boost productivity and address climate change,” he added.

NMB’s Highlands Zone Manager, Wogofya Mfalamagoha stated that NMB is now the largest bank in the country, with branches in every district and over 60,000 agents nationwide, up from 20,000 just two years ago.

He urged citizens to continue trusting and using the bank’s services.

Customers at the event praised NMB’s support for their businesses. Eng Ralph Makundi shared that NMB loans helped him secure major contracts and grow his construction company from the sixth to the top tier.

NMB’s continued investment in tailored financial solutions and infrastructure highlights its commitment to inclusive economic development.

By targeting key sectors and offering accessible credit, the bank is not only empowering individual entrepreneurs but also playing a vital role in accelerating Tanzania’s broader industrialisation and rural transformation agenda.