NMB LAUNCHES NEW FINANCIAL LITERACY DRIVE DUBBED "NONDO ZA PESA"

NMB Bank has launched a new financial literacy drive dubbed "Nondo za Pesa” that seeks to equip the bank's customers and the community at large with the knowledge and skills to make the right financial choices to achieve their financial goals.

The program will among other things foster customer engagement and contribute to meaningful financial well-being of communities.

Speaking during the launch of the program in Dar es Salaam yesterday, the NMB Bank Chief of Retail Banking Filbert Mponzi noted that since financial literacy is the foundation of building financial independence, the "Nondo Za Pesa" Program perfectly aligns with the bank's strategic approach to financial inclusion.

"In an era where financial decisions shape the course of our lives, the importance of financial literacy cannot be overstated. Financial literacy is not just a desirable skill, it is a necessity in today's world," he said.

Mponzi said the program will offer tips om managing day-to-day expenses, budgeting effectively and how to avoid 'debt traps'.

He said that NMB Bank takes an innovative and comprehensive approach to equipping individuals, particularly youngsters and women with the knowledge and skills needed for sound financial management.

"As a bank, we are committed to continue promoting financial education so as to empower individuals to make informed decisions as part of our vision to create a more financially secure and prosperous future for all," he added.

Mponzi noted that the bank will partner with both traditional and digital to take financial literacy right at grassroots level.

"We will continue to provide the necessary financial literacy resources, workshops and educational programs. These financial literacy programs will offer tips on setting financial goals, savings, loans, creating investment portfolios, market access and managing risks.

Mponzi noted that findings of the Finscope Survey 2023 revealed that the uptake of financial services amongst youths and women was still very low adding that the "Nondo za Pesa" campaign will help to bridge the existing gap, contribute to financial inclusion, economic growth and stability.

"We offer a number of financial propositions especially for youths and women including the NMB Pesa account that comes with an instant loans product dubbed 'Mshiko Fasta' that allows one to secure a loan of up to 1m/- without necessarily visiting the bank branches," he added.

The event was graced by the bank’s key stakeholders including media personalities who commended the bank for spearheading the program.

"This program has come at an ideal time and it will provide youths with a platform to access strategic financial information," said renowned media personality Maulid Kitenge.