NMB Bank has announced its remarkable initiative of providing more than TZS 1.8 trillion in funding to support 168,600 women-led Small and Medium Enterprises (SMEs) during the first ten months of this year. Nenyuata Mejooli, the Chief Shared Services Officer of the bank, shared this encouraging news during a women's networking event held in Dar es Salaam over the weekend.
This substantial financial support aligns with NMB Bank's ambitious strategy to promote and strengthen women's economic empowerment throughout Tanzania. Mejooli expressed the bank's dedication to closing the financial inclusion gap by extending banking services to underprivileged segments of the population, particularly women.
"At NMB Bank, we are committed to bridging the financial inclusion gap, and we will continue to work towards this goal by offering banking services to the underbanked, including women. So far this year, we have already opened 2.3 million accounts for women," said Mejooli.
In November 2020, as part of its commitment to women's empowerment, the bank launched the 'Jasiri Bond' initiative. This platform aims to provide affordable financing to women-led businesses and enterprises that directly impact women, not only in Tanzania but also in Sub-Saharan Africa.
Mejooli emphasized that NMB Bank will continue to roll out financial literacy campaigns across the country as part of its ongoing efforts to enhance the financial capacity of various groups, with a particular focus on women.
During the event, NMB Bank's Head of Business, Alex Mgeni, highlighted the bank's plans to establish a national women's database. This database will ensure that the bank offers tailored banking services to women in various sectors.
"We have already identified key sectors, and our goal is to include all women in our database. This database will enable us to provide personalized and timely banking services to women," Mgeni stated.
NMB Bank's unwavering commitment to women's economic empowerment and financial inclusion continues to make a significant impact on the business landscape of Tanzania, fostering entrepreneurship and contributing to the nation's overall development.