NMB Bank has set aside US $817,204 this year that will go towards supporting construction of farmers’ granaries countrywide. According to the bank’s Acting Chief Financial Officer (CFO), Mr Benedicto Baragomwa this will be possible in attempts to support the government in boosting agriculture sector in the country.
“In terms of assets, lending, deposits and profitability, NMB bank has contributed US $18,280 to this year’s Farmers’ Day and exhibition bonanza that attracted different stakeholders in the country’s banking sector, and thousands of visitors,” he said while briefing Vice President Samia Suluhu Hassan in Simiyu Region over the weekend, when she visited their pavilion before officially opening of this year’s NaneNane exhibitions in the area.
Supporting strategic sectors in the country
Mr Baragomwa further said that the bank has also started selling insurance policies to farmers through its risk management business initiative, which trades as NMB Bancassurance and increasingly becoming popular due to its value for money to customers. “NMB bank has since its inception and privatization some 23 years ago, been a pivotal player in national building supporting all strategic sectors, including agriculture, livestock and fisheries,” affirmed Mr. Baragomwa.