NMB orders AMCOS to verify cashew nut farmers’ details correctly

Towards new cashew nuts trading season 2020/21, NMB Bank has called AM- COS leaders in southern region to verify the names of farmers and their bank account numbers correctly.
The bank said the move will remove inconvenience of pay- ments issuance to cashew nut as well as address unnecessary complaints over payments de- lay, said Janeth Shango, NMB Manager Southern Zone at the Business Club, which gathered businesspeople from Lindi and Mtwara regions.
“In the 2019/20 trading season, we met a challenge of failing to deposit growers’ monies in their accounts on time because their names and detail accounts were different, leading to some farmers complain about payments delay,” she said.
Shango pointed out that in order to address the chal- lenge, they have educated the AMCOS officials to make sure they conduct verifica- tion process of cashew nuts growers in terms of names and account numbers.
According to her, the bank has also directed AM- COS leaders to submit the names of farmers so that they can be verified to ad- dress the challenge of delay- ing to issue their payments.
Shango said that NMB is positioned to make sure this payments season ser- vices are going smoothly be- cause the bank has increased its service providers in its branches across the regions.
Gelasius Byakanwa, Mtwara Regional Commis- sioner, as the guest of hon- our commended NMB Bank for its decision to meet with business owners, which shows how much the bank cares about its customers.
“When the bank decides to meet its customers you build a very good founda- tion of trust both of you and your employees. So, it is something that I’m happy with, and I think it is oppor- tunity that traders should utilise well,” said Byakanwa.
Oscar Nyirenda, Head of Credit Risk and Disaster at NMB urged farmers and cus- tomers to use insurance cov- erage offered by NMB as a critical part of doing business in the economic recovery.