NMB urged to empower loyal investors

The Deputy Speaker of the National Assembly, Dr. Tulia Ackson has called NMB Bank to empower patriotic investors to cut pitfalls they experience.

The move, she said will enable the country to create more billionaires.

Early March 2020, President John Magufuli said he would like to see more billionaires in the country during his term in office.

“NMB should now think of empowering the devoted investors in order to create more billionaires said by President Magufuli during his inaugural speech at the 12th Parliament,” said Dr. Ackson at the ceremony hosted by the bank for members of the parliament in Dodoma.

According to the report, a total of 5,553 Tanzanians were ranked among world’s High Net-Worth Individuals (HNWIs) last year, representing an increase of eight percent compared to 5,118 in 2018 – and 3,000 in 2014.

She shared that the bank should facilitate local investors in order to grow commercially.

According to Dr. Ackson, NMB has a convincing power to loyal investors by helping them boost investment zone.

She thanked the bank for continuing to improve its services and expands its operations in every area across the country, saying that having Tsh7 trillion in assets shows how much customers money are safe.

She also applauded the bank for the dividend that it has been issuing to the government to help execute some of the development projects.

However, she pointed out that NMB’s health insurance cover in partnership with NHIF will be a saviour for most Tanzanians.

She also requested the bank to lend 62 per cent of new MPs with low interest rates, saying that this will enable them payback on time.

She urged the bank to tailor suitable products for smallholder farmers in the country, expressing gratitude to the bank’s one per cent of its profits to support education, health and disasters.

Ruth Zaipuna, NMB CEO pointed out that they are now moving away from the marketing system and banking on solutions to the community.

She maintained that they are currently offering health insurance service to ordinary Tanzanians christened ‘Dunduliza’ Health Insurance scheme. It help people who marginalised by existing insurance scheme for various reasons.

“This process will enable ordinary person to raise money for insurance cover annually at NHIF,” said Zaipuna.

Dr. Edwin Mhede, the bank’s board chairman applauded the MPs elected in the 12th August House, urging them to be proud of NMB, which is largely owned by government.