PRIME Minister Kassim Majaliwa yesterday directed the Ministries of Agriculture and Finance and planning to ensure that various services provided by financial institutions including ‘NBC Shambani’ product reach all farmers countrywide and other agricultural stakeholders.
The Premier issued a directive, while visiting the National Bank of Commerce (NBC) pavilion at the ongoing Nanenane Agriculture Exhibitions at Nyakabindi grounds in Bariadi District-Simiyu Region.
Flanked by various top leaders including ministers, Mr Majaliwa said that he had been attracted by several financial services provided to agriculture stakeholders including ‘NBC Shambani’ a new service offered by NBC and directed that it was important for all stakeholders in the sector to collaborate with the government to intensify economic growth in the country.
“Efficiency on these important services offered to farmers will increase awareness in bank accounts opening unlike in the previous years when such services were not helping them directly, therefore, even as I congratulate NBC, it is equally important for the ministers to monitor closely and ensure ‘NBC Shambani’ service and other similar banks’ products cover all farmers to meet their target,” he directed.
In response, the Deputy Minister of Agriculture, Hussein Bashe assured the Premier that already, his ministry was in negotiations with all large financial institutions including NBC to ensure that they open bank accounts, which are free from deductions to farmers.
He said already NBC Shambani was one of the implementation in the ministry’s strategies to help farmers, adding: “Further, we agreed that all AMCOS ensure that upon receiving AMCOS fees, they should be allowed to spend 50per cent of the fee for their daily operations in their offices, and another 50per cent remaining be kept in their accounts and accumulate interest,’’ he said.
Earlier, when welcoming the Prime Minister at NBC pavilion, the bank’s Managing Director, Theobald Sabi said that apart from the ‘NBC Shambani' service, his bank in collaboration with other stakeholders including Tanzania Women Business Association (TABWA) and Tanzania Trade Development Authority (Tan Trade) coordinated a special three-day training to farmers and entrepreneurs during the ongoing exhibitions.
“It is through these efforts including the establishment of NBC Clubs that our bank has been listed among five African banks out of over 200 banks that will compete in the SME Bank of the Year award, an important milestone to have been recorded by the Tanzanian bank,’’ he said.
Clarifying further on the 'NBC Shambani’ product, NBC head of Small and Medium Enterprises (SMEs), Raymond Urassa, said the service aims at helping agriculture stakeholders to fulfill their ambitions in agribusiness, as it provides them with an opportunity to have group accounts like AMCOS and also open individual accounts.