Tanzania: Govt Hails NMB Education to Farmers, Herders On Financial Matters

THE Minister of Industry and Trade, Innocent Bashungwa, has hailed NMB bank for its continuous free education on financial matters to different entrepreneurs including farmers, fishermen and herders at the ongoing Nanenane Agricultural Trade Fair at Nyakabindi grounds in Simiyu Region.

He said the education is important and opening eyes of the entrepreneurs, who rely on such activities to earn a living and grow economically.

The Minister made the speech yesterday, while visiting NMB bank pavilion at the ongoing show, where he met some groups of herders, farmers and fishermen, depicting how the education was important to them.

He said such education aligns with the government focus of organizing the show to enable people in the agricultural sector to acquire technology that would enhance their income and also acquire loans.

"They have been getting the skills and technology, but the challenge is still there on where to locate institutions, which can loan them, and how to manage the funds. I am happy that NMB bank is addressing that at Nanenane," said Mr Bashungwa.

The minister, however, asked the bank to also provide such education to Cooperative Societies (Amcos), where there are elements of funds' mismanagements.

"May, I ask NMB bank to support the government to educate these Amcos, some are still a burden in managing funds, despite the government doing a lot on this," he added.

He said the education being provided by NMB at the show, suits the government targets to raise welfare and incomes of the farmers and livestock keepers countrywide.

On his part, NMB bank Western Zone Manager, Sospeter Magesse, said the bank has released 161bn/- as loans to support tobacco, Coffee and Cotton farmers in their Cooperative Societies numbering about 700.

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