HOSPITALS, HEALTH CENTERS AND PHARMACIES TO ACCESS LOANS OF UP TO TZS 5 BILLION FROM NMB BANK PLC

• Private hospitals, dispensaries, health centers, medical equipment suppliers and pharmacies to secure affordable credit
• Expected to improve the quality of healthcare provision in the country

Dar es Salaam, 17/09/2019 - NMB Bank Plc has launched a health loan facility dubbed ‘NMB Afya Loan’ aimed at providing affordable loans to private hospitals, health centers, pharmacies, medical equipment suppliers and dispensaries.

NMB Bank and Stichting Medical Credit Fund (MCF) have partnered to provide this credit facility whereby NMB Bank providing loans from TZS 2 Million to TZS 5 Billion while MCF provides a 50 percent guarantee on all the loans.

NMB Bank is the first bank in Tanzania to enter into such a partnership with MCF to explore and build capacity the Health Sector in the country. NMB and MCF will cooperate to implement the healthcare financing, broaden and strengthen the quality of healthcare provision in the country.

Beneficiaries will get access to working capital, asset financing and investment loans with Afya loan and will also receive technical assistance and advisory services to help them get quality medical equipment that is required for their facilities.

Speaking at the launch of the loan facility, NMB Bank’s Chief of Retial Banking – Filbert Mponzi said the loans’ program has come at the right time and will contribute to increasing access to affordable basic health care delivery and building sustainable health systems as the access to investment capital becomes more simplified.

“This is yet another milestone for NMB Bank today. There is an immerse opportunity in the health sector and as NMB, we have seen and hereby commit ourselves in helping hospitals, health centers, pharmacies and medical equipment suppliers. I believe this will contribute greatly in increasing access to affordable basic healthcare delivery. Many health facilities struggle with day to day operations due to lack of funds and are not able to expand their facilities. We believe this is the perfect solution for their needs.” Said Mr. Mponzi.

NMB Bank is voted the best bank in Tanzania for seven consecutive years by prestigious Euromoney International awards and is also the leading bank in financing Micro Small and Medium Enterprises in Tanzania cutting across various sectors including the health sector.

The MCF Country Director, Dr Heri Marwasaid the signing of MOU and roll-out is crucial in realizing MCF’s objectives of increasing access to affordable basic health delivery in Tanzania.

“Access to investment capital has been a challenge in many African countries and impedes the provision of affordable health delivery especially when looking on the context of building sustainable health systems. With this roll-out, we are happy that many private hospitals, health centers, pharmacies and medical equipment suppliers will have the capacity to invest in modern and sophisticated equipment. We are very delighted to partner with the best bank in Tanzania to deliver the best solution that will provide access to finance” said Dr. Heri Marwa.

About NMB

NMB Bank Plc. (“NMB”) is a full service commercial bank incorporated in the United Republic of Tanzania. Through its 4 main business divisions: Retail, Wholesale, Agribusiness and Treasury, NMB provides a suite of financial services and products to retail customers, farmers, SMEs, Corporates, Institutions and the Government.

The bank has 229 branches, over 6000 agents ‘Wakala’ and more than 800 ATMs across the country and is represented in all districts of Tanzania. NMB has over 3 million customers and employs over 3,600 staff. It is listed at the Dar Es Salaam Stock Exchange and its largest shareholders are the strategic partners Rabobank with a 34.9% share and the Government of Tanzania with a 31.9% share.

Euromoney awards for excellence selected NMB as the “Best Bank in Tanzania” for 7 years in a row from 2013-2018. Rewarded an award for Best Blended Finance partner in Africa for banks working with International Finance Corporation (IFC) of the World Bank Group and Best Retail and Best Commercial Bank in Tanzania by the Banker East Africa Magazine. For more information about NMB and its services, please visit our website: www.nmbbank.co.tz

For more information, contact:
Rahma Mwapachu, 

NMB Bank Plc Ag. Head of Corporate Communications.
Email: Rahma.Mwapachu@nmbtz.com

About MCF
Stichting Medical Credit Fund (MCF) is a not for profit foundation based in Amsterdam, the Netherlands which aims to enhance the provision of affordable yet high quality healthcare to low income Africans. The Medical Credit Fund works with African banks to help private healthcare facilities access loans. MCF is currently in six African countries namely, Tanzania, Uganda, Kenya, Nigeria, Ghana and Liberia. The Fund’s key objective is to contribute to increased access to affordable basic health care delivery in Africa in the context of building sustainable health systems, access to investment capital and the provision of business and quality technical assistance in partnership with local SME focused financial institutions.

MCF Contact - contacttanzania@medicalcreditfund.org