NMB LIVESTOCK FINANCING TOPS SH180 BILLION AS BANK STRENGTHENS SUPPORT FOR TANZANIA’S LIVESTOCK SECTOR

Prime Minister Dr Mwigulu Nchemba listens to NMB Chief of Retail Banking Filbert Mponzi as he explains the bank’s financing, financial literacy and banking services for livestock keepers during a visit to the NMB pavilion at the Tri-Nations Livestock Expo 2026, held at Mbogo Ranches in Ubena Zomozi, Chalinze District, Coast Region.

Chalinze, Tanzania; June 20, 2026 – NMB Bank Plc has extended more than Sh180 billion in financing to livestock keepers and businesses across Tanzania’s livestock value chain, reinforcing its commitment to transforming the sector into a commercially viable driver of economic growth, employment and food security.

The milestone was announced by NMB Chief of Retail Banking, Filbert Mponzi, during the opening of the Tri-Nations Livestock Expo 2026 held at Mbogo Ranches in Ubena Zomozi, Chalinze District, Coast Region. NMB is sponsoring the exhibition for the fourth consecutive year.

The annual expo brings together livestock keepers, investors, buyers, financial institutions and other stakeholders from Tanzania, Kenya and Namibia, creating a platform for knowledge sharing, business networking and investment opportunities within the livestock industry. The event was officially opened by Prime Minister Dr. Mwigulu Nchemba.

Speaking at the event, Mr. Mponzi said NMB’s livestock financing strategy targets both individual livestock keepers and enterprises operating throughout the value chain, including feed production, livestock fattening, improved breeds, processing and market development.

“NMB was the first bank in Tanzania to introduce specialised livestock loans at an affordable interest rate of nine per cent. By June 2026, we had extended more than Sh180 billion for livestock fattening, feed production, improved breeds and modern livestock infrastructure,” said Mr. Mponzi.

He explained that the bank’s agribusiness and agri-wholesale financing model is designed to support the entire livestock ecosystem, covering livestock keepers, feed producers, traders, processors and large-scale enterprises serving the sector.

Addressing participants during the exhibition, Prime Minister Dr. Nchemba identified livestock-feed shortages as one of the key challenges facing the industry and reaffirmed the government’s commitment to working with the private sector and other stakeholders to find sustainable solutions.

“The shortage of livestock feed is evident, and that is why the government is committed to working with different stakeholders to address the challenge,” said Dr. Nchemba.

The Prime Minister also urged livestock keepers to leverage the knowledge, technology and best practices showcased at the exhibition to improve productivity and manage livestock farming as a sustainable commercial enterprise.

Mr. Mponzi emphasized that access to financing alone is not enough to unlock the sector’s full potential. He noted that financial literacy, effective business management, insurance coverage and market knowledge are equally important in helping livestock keepers make informed investment decisions, repay loans responsibly and expand their operations.

As part of its participation in the exhibition, NMB is providing financial education, business advisory services and information on livestock loans, insurance products and digital banking solutions tailored to the needs of livestock farmers and agribusinesses.

The bank also reaffirmed its commitment to extending financial inclusion through its extensive nationwide network of 248 branches, more than 75,000 banking agents, and a range of digital platforms aimed at bringing formal financial services closer to livestock-producing communities, particularly in rural and underserved areas.

Through initiatives such as the Tri-Nations Livestock Expo, NMB continues to connect livestock keepers with finance, insurance, knowledge and markets, helping strengthen the livestock sector’s contribution to household incomes, job creation and Tanzania’s broader economic development agenda.