9 August 2018

Tanzania: Farmers Poised to Benefit From NSSF Loans

FARMERS and entrepreneurs have been advised to form groups so that they can easily access loans issued by the National Social Security Fund (NSSF), thanks to the much publicized campaign dubbed "It's your Time ".

The advice was given here yesterday during the climax of Farmers Exhibition, popularly known as Nane Nane by NSSF Dodoma Manager, Ms Rehema Chuma at the Nzuguni grounds.

"It is not easy to monitor and control loans issued to individuals, that is why in our campaign we encourage farmers and entrepreneurs to join in registered groups to enjoy the loans facility offered by our fund" she said.

Moreover, she said under the 'Its Your Time' campaign, they intend to reach farmers and entrepreneurs through awareness platforms where they will also be educated on the need to register with NSSF.

She added that NSSF has entered into an agreement with Azania and NMB banks which will issue the loans to farmers and entrepreneurs who have met the criteria.

She said now NSSF is a security fund that is servicing the private sector and plans are in advanced stage to reach all stakeholders in the sector.

She mentioned some of the targeted groups for enrollment as entrepreneurs, motorcyclists, fishermen, farmers and food vendors among others.

Ms Chuma outlined the loan qualification criteria is group members should have contributed not less than 20,000/- monthly for six months consecutively.

"There are a number of benefits for joining NSSF as entrepreneurs groups, such as medical health facilities for a principal member and four dependants," she added.

Mkalama District Commissioner (DC), Eng Jackson Masaka who was the chief guest called upon the exhibitors to educate the public on their services and how they can access them.

He called upon financial institutions to ease loan qualification criteria so that majority can benefit.

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