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Tuesday, June 20, 2023

NBC new initiative a boon for teachers in Tanzania

 

Summary

·         Teachers will save up to 10 percent on purchasing any gadget from Samsung stores because of NBC’s collaboration with Samsung

Dar es Salaam. The National Bank of Commerce (NBC) is specifically designed to cater to teachers’

financial needs. Known as the Mwalimu Account, the account will provide special benefits and services designed for the unique needs of teachers and enable them to successfully overcome various financial challenges.

The bank’s head of product and sales, Mr Abel Kaseko, said teachers will save up to 10 percent on purchasing any gadget from Samsung stores because of NBC’s collaboration with Samsung.

He added that additional discounts of up to 15 percent are also available on the purchase of motorcycles and solar panels.

 “This account provides a broad range of financial products and services tailored to the needs of the teaching community, providing them with more financial autonomy and the chance to secure a bright future,” said Mr Kaseko.

Mwalimu Account, he said, aims to transform the banking experience for teachers by providing the following benefits.

“There are no monthly fees, as we understand the importance of convenience and ease of use for teachers, so we have waived any maintenance fees associated with this account,” said Mr Kaseko.

But instead, teachers will receive a fixed fee of only Sh2,000 for all types of activities.

NBC’s head of foreign exchange markets, Ms Juliana Mwapachu, said that the Mwalimu Account represents an important step in the journey of financial inclusion and empowering teachers.

She said that upon the death of a parent (teacher), the family will receive an education benefit of Sh6 million, ensuring that the children’s educational needs are taken care of during such a difficult period.

Again, as a gesture of support, in the event of the death of a teacher, the bank will offer a condolence payment of Sh2 million, providing financial relief during the difficult period.

 

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