NMB Bank Plc ‘NMB’ has introduced a credit facility for its agents NMB Wakala dubbed ‘Floti Fasta’ - The first of its kind facility that allows agents to access instant financing through NMB Mobile.

Floti fasta offering is designed to boost NMB agent’s working capital that will also help them expand their business and create more jobs associated with NMB Wakala. Floti Fasta minimum amount is TZS 50,000 and maximum amount is TZS 5,000,000.

This is an interest-free product which requires only the recipient to incur a 3% processing fee (VAT Inclusive) which will be charged upfront

The NMB Bank’s Head of Payment and Accounts – Michael Mungure said the facility is the first of its kind in the country will support more than 6,800 agents to more expand their business as they will be sure of serving customers anytime with enhanced cash flow.

“With the introduction of Floti Fasta, the question of floats to most agents is now solved, just use NMB Mobile and your business is assured.” Said Mr Mungure

Mungure further said “our mission at NMB has always been to create innovative products and services that tackle various financial challenges in the country. It was determined that there is a financial gap in accessing floats especially during closure of branch hours. We then saw this as an opportunity to provide financial solution that is convenient to NMB Wakala agents through our App NMB KLiK.”

“NMB Wakala agents play a vital role in providing banking services contributing to the country’s economy and therefore as Tanzania’s largest bank it is essential to create an environment that works in their favour and help them meet the market demand and through that, we are contributing to accelerating financial inclusion in the country.”

Customers are now assured of Service at all NMB Agents as they now have access to instant float facility in case they run out. This makes NMB Wakala the most reliable Wakala Network in the Market.

NMB’s Head of Business Banking Donatus Richard speaks to journalists (not in picture) on the debut of the first of its kind Instant Interest Free financing product in Tanzania dubbed ‘Floti Fasta’. Looking on are Head of Payment & Accounts, Michael Mungure (centre) and Head of Agency Banking Ericky Willy (right).

Mr Mungure also added that despite the facility being tailor-made to support NMB wakala agents the benefits trickle down to Non-NMB customers who want to Pay Tax or other bills like Dawasco, buy Luku, and recharge Airtime or TV packages through NMB Wakala.