Mwanza RC urges banks to back govt’s industrialization drive

27Nov 2017
The Guardian Reporter
The Guardian
Mwanza RC urges banks to back govt’s industrialization drive

COMMERCIAL banks have been urged to support the government’s industrialization drive by providing loans and advising business people on how to keep records properly.

Mwanza Regional Commissioner, John Mongella told NMB Bank Plc senior management o cials and their clients that it is important that they work together to grow their businesses and the economy.

Mongella who was speaking during an NMB executive business network meeting in the country’s second largest city, said the government will continue supporting businesses by putting in place a conducive investment climate.

“Mwanza is the business hub for the Lake regions hence the organ- ising of this meeting to take place

here is of paramount importance. The regional government will al- ways back business people who operate within the laws of the coun- try,” the RC said.

While pledging continued sup- port to the private sector, Mongella said the government of President John Magufuli is committed to en- couraging local business people graduate into industrial owners hence contributing to national de- velopment.

“I am happy to learn that as a bank you also advise and sensitise your clients on taxation and analyse the national budget so as to improve their nancial literacy,” the RC pointed out.

Heemphasisedtheneedforbigger investment in industrialization in the region saying the private sector as engine of growth, is instrumental in the implementation of the

government’s plan.“It’s your industries and business-

es which are creating jobs in our re- gion, paying taxes and thus helping government nance development projects,” the Regional Commis- sioner stressed.

In his welcoming remarks to over 150 clients who attended the meet- ing, NMB Bank’s Chief Wholesale Banking, Richard Makungwa said that the aim of holding such meet- ings is to strengthen business rela- tions with top end business and corporate customers.

“NMB is committed in ensuring that customers get the best while contributing to their business growth, the bank has done remark- able improvements and innova- tion to suit the customer needs,” Makungwa said.

He further said that improve- ments done by the bank in every

aspect including investment in technology, will help bring services more close to customers in the country.

Makungwa noted that after the bank’s successful implementation of business clubs for Micro, Small and Medium Enterprises (MSME), management decided to start the business executive network to take aboard high end customers.

NMB Business Network is a network for specially designed for small and medium size enterprises emerging and large Corporates with annual turnover of between 2bn/- and 10bn/-.

SME activities are of paramount importance to both the bank and the economy and so far NMB has supported over 60,000 SMEs nationwide which represents 25 percent of the bank’s overall business.

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