Kikwete lauds NBC for swift growth, calls for more loans

 

Retired President, Jakaya Kikwete (left) receiving a gift from the Executive Director of NBC Bank, Theobald Sabi during an Iftar event organized by the bank for its customers in Dar es Salaam. PHOTO | COURTESY

By The Citizen Reporter

Media/news company Mwananchi Communication Limmited

Summary

·         Giving his remarks during an Iftar event organised by the NBC for its customers in Dar es Salaam at the weekend, Mr Kikwete also expressed his satisfaction with the strength of financial institutions in the country

Dar es Salaam. Retired President Jakaya Kikwete has commended the growth pace of the National Bank of Commerce (NBC) while encouraging the lender to keep on issuing more loans especially on

agriculture and business sectors to stimulate the increase in investment and the growth of the country’s economy.

Giving his remarks during an Iftar event organised by the NBC for its customers in Dar es Salaam at the weekend, Mr Kikwete also expressed his satisfaction with the strength of financial institutions in the country, giving an example the NBC that owns assets worth Sh1.52 trillion and deposits worth Sh1.96 trillion.

“I’m so glad to see that financial institutions in the country are currently performing well taking an example of NBC which is currently expanding its wings all over the country along with an increase of its agents,” he said.

The number of bank agents has reached 9,430, something that helps in achieving financial inclusion agenda.

According to him, the strengthening of financial institutions in the country will help in the economic growth at the required pace as investors in the business and agricultural sectors need strong financial institutions to successfully run their investments.

“There is no economy without investment, just as there is no investment without guaranteed loans from financial institutions. I strongly urge NBC and other financial institutions to keep on being closer to investors for the benefit of your growth as lenders, and for the benefit of the investors, society as well as the government,’’ he emphasised.

Speaking at the event, NBC managing director, Theobald Sabi said; “We consider our customers as a valued extension of the NBC family and as we mark the blessed days of this holy month, we wanted to take this opportunity to share the spirit of togetherness with them.”

“The event also provided us with an avenue through which we could show our appreciation to them for their continued patronage, while at the same time reaffirming our commitment to understand and address their needs and expectations.’’

“Furthermore, we have always been committed towards providing products that are specifically tailored to our customers. Gatherings such as these provide us with a vital opportunity to interact and understand their requirements better; further strengthening our relationships while also obtaining their valuable feedback for our existing products and services,” he added.

Speaking on behalf of the Dar es Salaam Regional Commissioner, Ilala District Commissioner Edward Mpogolo congratulated the bank for its contribution in raising the economy of the region through being closer to various stakeholders including businessmen and its various social responsibility initiatives (CSR).

“As a region, we are more than happy to see that financial institutions respect the religious beliefs of their customers along with being closer to religious leaders. The fruits of this move include peace, which is the basis of business and economic prosperity,’’ said Mr Mpogolo.