‘NMB business clubs now become an easy way to access soft loans’

13May 2016
The Guardian Reporter
The Guardian
‘NMB business clubs now become an easy way to access soft loans’

IN efforts to make life easier for Tanzanians, the Micro, Small and Medium Enterprise (MSMEs) have been urged to join business clubs introduced by National Microfinance Bank (NMB) so that they can access soft loans.

Speaking in Dar es Salaam yesterday, the bank’s Head of Business Banking, James Meitaron said the club will not only help members to access loan but among others they are going to offer financial management education for nourishment of their businesses.

“We will also advise our clients on the kind of businesses that they should deal with in line with one’s capital, including money transaction, especially buying and selling the US dollars,” he noted.

According to him, the bank has about 35 business clubs national-wide with at-least 300 members each totalling 10,000 members per year, for updating programmes and introducing new products.

It was further noted that during the programmes, SMEs have also been giving feedback and receiving stakeholders who teach them how to improve their businesses.

On the other hand, NMB has also encouraged the Larger Scale Enterprises joining the newly introduced Business Centres (special for them) for the same intention (loans access).

Business Centres are currently available in few regions, namely Dar es Salaam, Arusha and Mwanza with NMB looking forward to open others in Morogoro and Mbeya, according to Head of Business Banking.

It is expected that till the end of this year, the bank will avail 10; and by 2020, at-least 20 business Centres. In total, NMB has about 80, 000 clients in both categories, according to him.