Dar es Salaam, October 7, 2021,

NMB Bank is announcing to all its customers in the whole value chain of agriculture, livestock and fisheries that from 15th of October 2021, it will start offering loans at affordable interest rates. These loans will be disbursed at interest rates not exceeding 10 per cent per annum.

The beneficiaries of these affordable loans are namely farmers, suppliers of farm inputs, service providers, entrepreneurs, small and medium processors engaging in all activities in the agriculture, livestock and fishing sectors.

Over TZS 100 Billion are set aside for affordable loans to customers in the whole value chain of agriculture, livestock and fisheries

NMB Bank has taken this initiative in order to widen the scope of stakeholders in the sectors like agriculture, livestock and fisheries to access affordable loans to increase productivity in their economic activities.

A customer will get relief of the cost of loans and thus be able to make more profits. The profit gained can be used to increase production of food, industrial raw materials and contribute to industrial development in the country.

It is the expectations of NMB Bank that farmers, livestock keepers, fishers, business people as well as small and medium entrepreneurs in agrispace make use of the unique opportunity to access low-cost loans to increase their incomes and build the country’s economy.

The Bank will observe the conditions in offering these affordable loans by following the lending procedures including the highest amount of loan of 1 billion shillings per one borrower. The borrower can be an individual, cooperative society, company or any institution that will meet the conditions for lending.

The Bank is urging all the intended stakeholders in this initiative to visit its branches (over 225 branches countrywide) and access loans at affordable interest rates.

Issued by Ruth Zaipuna

Chief Executive Officer

NMB Bank PLC

October 7, 2021