NMB targets heath facilities with its new loan scheme

Wednesday September 18 2019

NMB Bank Plc acting managing director Filbert

NMB Bank Plc acting managing director Filbert Mponzi, (second right), head of business banking Donatus Richard (right), president of Medical Association of Tanzania, Dr Elisha Osati (third left), country director of Stichting Medical Credit Fund in Tanzania, Dr Heri Marwa and chairperson of Heameda Hospital in Dar es Salaam Edwina Lupembe jointly launch the NMB Afya Loan scheme yesterday. PHOTO | THE CITIZEN CORRESPONDENT 

By The Citizen Reporter @TheCitizenTZ news@tz.nationmedia.com

Dar es Salaam. NMB Bank Plc yesterday came up with a loan scheme that targets issuance of loans of between Sh2 million and Sh5 billion to private hospitals, health centres, pharmacies, medical equipment suppliers and dispensaries.

The Dar es Salaam Stock Exchange-listed lender has partnered with Stichting Medical Credit Fund (MCF) in the product known as ‘NMB Afya Loan’ in which the latter will provide a 50 per cent guarantee on all loans.

The MCF is a not for profit foundation based in Amsterdam, The Netherlands, which aims at enhancing the provision of affordable yet high quality healthcare to low income Africans.

The partnership seeks to explore and build capacity of Tanzania’s health sector.

The two parties will work together in implementing the healthcare financing facility as well as in broadening and strengthening the quality of healthcare provision in the country The beneficiaries will get access to working capital, asset financing and investment loans, the NMB acting managing director, Mr Filbert Mponzi, said in Dar es Salaam yesterday.

The beneficiaries will also receive technical assistance and advisory services to help them get quality medical equipment that is required for their facilities.

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“There is an immerse opportunity in the health sector. I believe this will contribute greatly in increasing access to affordable basic healthcare delivery. Many health facilities struggle with day-to-day operations due to lack of funds and are not able to expand their facilities. We believe this is an apt solution to their needs,” said Mr Mponzi.

The MCF country director, Dr Heri Marwa, said the agreement with NMB will help in the realisation of his organisation’s objectives of increasing access to affordable basic health delivery in Tanzania.

“Access to investment capital has been a challenge in many African countries and impedes the provision of affordable health delivery especially when looking on the context of building sustainable health systems. With this roll-out, we are happy that many private hospitals, health centres, pharmacies and medical equipment suppliers will have the capacity to invest in modern and sophisticated equipment. We are very delighted to partner with the best bank in Tanzania to deliver the best solution that will provide access to finance,” said Dr Marwa.