SOCIAL GROUPS TRAINED IN CHALINZE DURING NMB VILLAGE DAY AT MIONO

Social groups in the country have been urged to seize opportunities available in the NMB Group Account to formalize their activities and benefit from insurance services, loans, and digital financial inclusion services for their economic development.

This call was made by Dismas Prosper, NMB's Zone Manager responsible for Group Sales and Rural Banking Distribution, during a financial education seminar for Tanzanians living in areas not reached by banking institutions, conducted by NMB.

The seminar was held by NMB in Miono Village, Chalinze District, Pwani Region, during the Financial inclusion awareness festival for Tanzanians organized by NMB Bank dubbed the "NMB Kijiji day" which was accompanied by various sports events.

Speaking during the seminar, which involved around 150 members of social groups, 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 push to improve the NMB Pamoja account to become the NMB group account aimed to solve various challenges hindering the growth of social groups in the country, due to informal management that does not benefit the members with their groups’ funds.

"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 emphasized.

Dismas highlighted that the benefits of the NMB group account include the safety of group funds, easy digital deposits and savings, accurate and transparent financial information for each member, stressing that all money should be in the bank, not in lockers or hidden places.

He added that besides the group account, social group members should open individual accounts to benefit from various services, including “Mshiko Fasta,” a loan without conditions or forms, which can provide their client up to Tsh 1 million.

Commenting on the training and financial education received in the seminar, participant 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 formalizing our groups, but especially the group insurance which can offer condolences when someone passes away," said Josephine.

Shaban Kwangaya, an entrepreneur residing in Miono, expressed his interest in the Health Insurance services provided in the seminar, noting that one of the major challenges for rural residents is affording medical expenses.

"Apart from the Health Insurance, I have also learned a lot that I did not know about group accounts and low-interest loans, and I promise not only to be a good ambassador for NMB within the community but also to be a user of every opportunity coming through the bank's services," he said.

On his part, Bhoke Nyitika, Miono Ward Development Officer, congratulated the participants of the NMB Kijiji day seminar, stating that if used properly by group members, the knowledge they acquired will help accelerate the economic development of groups and increase individual income.