NMB Bank has dished out more than 750m/- in support of the annual symposiums and meetings organized by the Association of Local Authorities of Tanzania (ALAT) for the last five years as it promises to keep working closely with the Local Government Authorities countrywide.
NMB Chief of Retail Banking – Filbert Mponzi said here over the weekend that the Bank recognizes impressive business cooperation in around 180 LGAs it is currently operating in saying sponsoring ALAT’s annual meetings was a symbol of such collaborations.
He was speaking shortly before he handed over a dummy cheque of 150m/- which was donated by the Bank for ALAT meeting that takes place in Mwanza from Monday up to Friday this week.
“We are extending our services across the country and now reaching 180 local government authorities with a different financial services to staff, business groups and even Ward Councilors shows how committed we are,” he said.
ALAT Chairman Mr Gulamhafeez Mukadam expressed gratitude to NMB for the continuous support to the Association saying this year’s donation was a true expression of the partnership between the two institutions.
According to him, different communities in the local government authorities still face a number of development challenges that need supporters and partners like NMB to solve them.
However, he challenged the Bank to review its approach for donations proposing it might venture into material support in addition to financial support which doesn’t sometimes deliver timely expected results.
Citing construction projects going in different parts of the country as an example, Mr Mukadam said NMB might venture into participating directly into providing resources targeting to make sure the projects in question are completed rather than injecting funds.
“I think the Bank can now change their approaches towards donating funds for the projects and make sure the projects under their supports are completed and value for money realized,” said the ALAT boss.
Member of ALAT Executive Council and Mayor for Sumbawanga Mr Justine Malisawa thanked the Bank’s systems that has facilitated in smooth collection of revenues especially for the last three years.
He was supported by another ALAT member Ms Zainab Vullu who asked the Bank to extend its wings to the isolated areas particularly in Coast Region and introduce soft loans with affordable interest rates for small scale businesses.
She said review of interest rates will enable low income earners conducting their small businesses from the villages to benefit from the bank’s services by taking loans to expand their businesses.