NMB empowers social groups manage finances effectively
COAST REGION: NMB Bank is making significant strides in empowering social groups to effectively manage their finances and make informed financial decisions.
NMB’s Zone Manager responsible for Group Sales and Rural Banking Distribution, Mr Dismas Prosper made the statement during the seminar to members of various social groups in Chalinze, Coast Region at the weekend.
“By catering to the unique needs of social groups through tailored products and services, the bank not only supports local economic development but also strengthens the social fabric of communities, contributing to Tanzania’s broader growth and stability,” he said.
The seminar was organised by NMB in Miono Village, Chalinze during the financial inclusion awareness festival for Tanzanians organised by NMB Bank dubbed the ‘NMB Kijiji day’ which was accompanied by various sports events.
Through NMB Group Account, he said the bank enables various social groups, including women, youth and rural communities to engage with the formal financial system.
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During the financial education seminar for Tanzanians living in areas not reached by banking institutions, Mr Dismas stated that the NMB group account is an umbrella that includes various positive services that can accelerate the economic growth of groups and their individual members.
“The NMB Group Account is the solution for proper management of group funds, enabling each member to know how to benefit from their money and empower individuals and the group to achieve their financial goals and plans.
This account gathers together various solutions, along with educating members on how they can benefit from their funds by purchasing shares in stock markets, taking affordable loans, and acquiring group, family and individual insurance,” he emphasised.
Commenting on the training and financial education received in the seminar, participant Ms Josephine Steven expressed her interest in the NMB Group Account service and the Group Insurance, urging NMB to increase their reach to community groups in rural areas.
“Rural areas have many community groups. Through this seminar, we have discovered the proper ways to manage our money in a modern way, the benefits we can gain by formalising our groups, but especially the group insurance which can offer condolences when someone passes away,” she said.
