NBC praises govt for expanding farmers’ access to financial services through agricultural reforms
Various officials from NBC Bank, led by the Head of the Micro and Agri Customers Unit (second from left), are pictured with visitors who stopped by the bank’s exhibition stand during the climax of the National Farmers’ Day (Nane Nane) celebrations held in Dodoma over the weekend.
Dodoma. The National Bank of Commerce (NBC) has praised the government for its sustained efforts to bring financial services closer to farmers, particularly through the improvement of agricultural marketing systems such as the Warehouse Receipt System.
These reforms have significantly enhanced the capacity of financial institutions—including NBC—to serve the farming community with greater efficiency and impact.
According to NBC, such advancements have not only made it easier to deliver financial services, such as loans and education, but have also helped position farmers as a bankable sector through improved payment guarantees.
Speaking at the national culmination of Nane Nane (Farmers’ Day) celebrations held in Dodoma, Mr Raymond Urassa, Head of Micro and Agri Customers at NBC, highlighted how system upgrades have bridged the gap between farmers and formal financial institutions.
“The structured crop sales framework has given us a reliable platform to offer farmers more targeted support. With this foundation in place, we as a bank have drawn closer to the farming community than ever before,” said Mr Urassa.
He further explained that through the NBC Shambani Account, farmers can now access tailored loan products, including finance for decent housing, modern agricultural inputs, and mechanised tools such as tractors, power tillers, and combine harvesters. Additionally, the account allows farmers to access advance loans while awaiting crop payments, helping them avoid reliance on exploitative informal lenders.
“We have gone a step further by also supporting farmers in constructing storage warehouses for their produce. We are truly grateful to the government for creating an environment that allows such interventions to thrive,” Mr Urassa added.
Beyond credit services, NBC has expanded its offering to include insurance solutions specifically designed for the agricultural sector. These include farmers’ health insurance, livestock insurance, and crop insurance. The bank is also partnering with multiple companies and organisations nationwide to extend loans to livestock keepers, enabling them to acquire improved breeds of cattle, goats, sheep, and poultry—boosting the production of meat, milk, and eggs.
The strengthened collaboration between financial institutions and agricultural stakeholders is already yielding visible results. Mr Karimu Chipola, Chairman of the Tandahimba and Newala Cooperative Union (TANECU), praised the ongoing government efforts and NBC’s role in facilitating financial access.
“We are grateful to the government for linking us with institutions like NBC. Today, it is far easier for us—both as a union and for AMCOS groups—to facilitate member transactions through their bank accounts. Moreover, through our partnership with NBC, we are now in the final stages of launching major projects, including the construction of large crop storage facilities and our very own cashew nut processing plant,” said Mr Chipola.
His sentiments were echoed by Mr Maiya Saitia Maumbi, a livestock keeper from Kilosa District in Morogoro Region, who received NBC’s livestock insurance during the exhibition.
“This insurance has been a game-changer. I have seen fellow livestock keepers receive compensation during times of severe drought and livestock disease outbreaks. I now farm with peace of mind, knowing I am protected. On top of that, I benefit from the Livestock Keepers’ Account (NBC Mfugaji Account), which qualifies me for loans to expand my operations,” Mr Maiya shared.
NBC also took full advantage of the Nane Nane platform to deliver its services to attendees. Ms Happiness Kizigira, Branch Manager for NBC in Dodoma, revealed that the bank—through its marketing team and network of agents across Dodoma and neighbouring regions—managed to open numerous new accounts during the event.
“We were impressed by the strong interest shown by farmers and other stakeholders in the agricultural sector. Their enthusiasm for financial services reflects the growing awareness of how banking can transform farming operations,” she said.
