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National Bank of Commerce (NBC) lends at least Sh180bn to agribusiness

National Bank of Commerce (NBC) Mtwara Branch employee Lulu Mutayoba (facing camera) attends to some Mtwara residents during the Mtwara Investment Forum and Exhibition at the Mtwara Teachers College grounds last weekend. PHOTO | COURTESY

Mtwara. The National Bank of Commerce (NBC) has said it has issued a total of Sh180 billion in loans to agribusiness in Tanzania.

This was stated by the bank’s Mtwara regional manager, Mr Job Nshatsi, at the Mtwara Investment Forum and Exhibition held in Mtwara over the weekend, attracting cashew nuts stakeholders.

The lending targeted the whole agriculture value chain, including production, processing and exporting various cash crops including cashew nuts. But he did not reveal the amounts involved.

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Mr Nshatsi said the bank is well-positioned to provide financial security to the cashews value chain - especially at this time when the crop is in the auctioning stage.

“NBC provides specialised banking services for the growth of agribusiness in partnership with Private Agricultural Sector Support (PASS), looking at the agriculture and the entire value chain in the sector,” Mr Nshatsi explained.

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