ALAT cherishes partnership with NMB sponsorship of AGMs gross 750m/-

22Jul 2019
The Guardian Reporter
The Guardian
ALAT cherishes partnership with NMB sponsorship of AGMs gross 750m/-

A record 750m/- has been used by NMB Bank Plc to finance Association of Local Government Authorities’ annual general meeting for the past five years, a move which ALAT Chairman, Gulamhafeez Mukadam has described as a valuable partner.

ALAT Chairman, Gulamhafeez Mukadam in a jovial mood while carrying a 150m/- dummy cheque which was donated by NMB Bank Plc to finance the association’s annual general meeting being held in Mwanza City starting today. Others in the photo are: NMB’s Chief of Retail Banking, Filbert Mponzi (2nd L) and other ALAT and the bank’s officials. The ALAT annual general meeting is expected to be opened by President John Magufuli today. Photo: courtesy of NMB.

Mukadam expressed his gratitude to NMB for the continuous support during a handover ceremony of a 150m/- pay cheque by the bank to support this year’s ALAT annual general meeting which starts today in Mwanza city.

“This year’s donation is yet another true expression of the partnership between our two institutions which dates back to several years,” Mukadam said while advising NMB’s management to also venture into support for different communities in the local government authorities as they still face a number of development challenges.

The ALAT Chairman further challenged the bank to review its approach in giving out cash donations but instead proposed that material support should go hand in hand with financial support to deliver timely expected results.

Citing construction projects going in different parts of the country as an example, Mukadam said NMB might venture into participating directly into providing resources targeting to make sure that such projects are complete.

“I think the bank can now change its approach towards donating funds for the projects and make sure the projects under its support are completed and value for money realized,” said the ALAT boss argued.

A member of ALAT executive council who is also Mayor for Sumbawanga Municipality, Justine Malisawa thanked NMB management for facilitated smooth collection of government revenue at all levels especially in the last three years.

Malisawa was backed by another ALAT member, Zainab Vullu who apart from commending NMB for facilitating government’s revenue collection, she asked for its services to be extended to isolated areas particularly in Coast Region.

“You should provide soft loans to marginalised rural people with affordable interest rates for small businesses, farmers and pastoralists,” Vullu noted arguing that lower rates will enable low income earners benefit from the bank’s services.

Responding to the ALAT members’ observations, NMB Chief of Retail Banking, Filbert Mponzi said the bank recognizes and values working in partnership with around 180 LGAs in the country hence feels obliged to sponsor ALAT’s annual meetings as a symbol of good relations.

“We are extending our services across the country and now reaching 180 local government authorities with different financial services targeting staff, business groups and even ward councillors to show how committed we are,” Mponzi said while promising more cooperation.