Tanzania: NMB Ready to Revive Tourism Sector Amid Covid

NMB Bank has assured investors in the tourism industry that they are ready to work with them to revive and develop the sector, being the leading sector that has been badly affected by the Covid-19 virus epidemic.

NMB Head of Business Banking, Alex Mgeni made the revelation while presiding over the Tanzania Tourism Summit held in Arusha, where the bank was the main sponsor of the exhibition.

He said tourism depends on people travelling from one place to another, but after the epidemic hit the world, various countries imposed travel restrictions to control the spread of the disease, which in turn limited tourists travelling to tourist destinations.

"Our bank recognises the great challenges you have faced through the tourism industry, we have reports of workers losing their jobs in tourist hotels in the parks, permanent and temporary camps as well as staff of other cadres, NMB is planning to intervene to see that tourism returns faster," he pointed out.

In confirming the bank's readiness to provide loans to investors in the tourism industry, he said a customer could get up to 5bn/- in a lump sum which he would use to expand his investment base and contribute to providing better services to tourists and increase employment.

Earlier, NMB Northern Region Manager, Dismas Prosper said the bank recognises the tourism industry as one of the areas they prioritise because it contributes to foreign exchange trading.

"The northern regions, especially Arusha in Kilimanjaro and Tanga are heavily dependent on the tourism industry, and our doors are open to listen to them and ensure they do not find any financial impediment to developing this sector that can make a significant contribution to our country's economy," said Dismas.

On his part, Tom Kunkler, Director of the Tanzania Tourism Summit which organised the exhibition, said NMB Bank has become a loyal partner in sponsoring exhibitions that promote the country's tourism industry and pledged to continue cooperating with them.

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