NMB OPENS A BRANCH AT BUNGE PREMISES

The Speaker of the National Assembly, Ms. Anne Makinda, cuts a ribbon to launch National Microfinance Bank (NMB), Bunge Branch in Dodoma on recently. She is flanked by NMB Board Chairman, Prof. Joseph Semboja (right), NMB Chief Executive Officer, Mr. Mark Wiessing (in glasses) and other bank staff.

The National Microfinance Bank (NMB) has opened Bunge Branch located at the National Assembly premises in Dodoma, as part of the bank’s efforts to solve financial challenges among legislators and parliament staff.

The event was graced by the Speaker of the National Assembly, Ms. Anne Makinda, who commended the move by the bank saying that lack of bank services closer to Members of Parliament was a challenge.

“We Members of Parliament (MPs) have limited time and we are in need of knowledge on how to make use of finance institutions to invest for the future,” she said.

Ms. Makinda urged the NMB management to consider organising seminars and training programs for MPs on how best they can benefit from the bank. She also pointed out the need for the bank to reduce interest rates to allow many people benefit from loan services. “The branch is good and this shows your commitment in giving us quality services. I would also like to commend you for reaching out to people in remote areas,” Ms Makinda said. In a vote of thanks, the NMB Board Chairman, Prof. Joseph Semboja, said that the chance to open a branch at Bunge premises was a big opportunity for the bank.

“We thank you madam speaker for the vote of confidence and we promise to deliver better services,” he said. He promised to conduct seminars for MPs soon, adding that the bank was also ready to extend loan services to MPs. Earlier, the NMB Chief Executive Officer, Mr. Mark Wiessing noted that the bank has witnessed a rapid growth with a total number of 150 branches now.

“We have opened 53 new branches since NMB was privatised and this is an average of 10 branches every year,” he said.

Mr Wiessing added that 85% of the banks branches are in remote areas, adding that the bank has covered 95% of districts in the country.

He pointed out that apart from opening the Bunge Branch, the bank will also renovate the Dodoma branch.