Government, NMB Bank in Sh18.5 billion loan deal to empower MSMEs

Government, NMB Bank in Sh18.5 billion loan deal to empower MSMEs

Dar es Salaam. Micro, Small and Medium Entrepreneurs (MSMEs) will receive Sh18.5 billion in the government’s empowerment loans during the coming two years.

The money will be disbursed on favourable-term loans from NMB Bank through a two-year agreement that was signed in Dar es Salaam yesterday.

During the agreement signing ceremony, NMB Bank was represented by its CEO, Ms Ruth Zaipuna, while the government was represented by the Permanent Secretary in the Ministry of Community Development, Gender, Children and Special Groups, Dr Seif Abdallah Shekalaghe.

The Minister for Community Development, Gender, Children and Special Groups, Dr Dorothy Gwajima, witnessed the event.

“The Sh18.5 billion is a significant amount to start with, but this amount will increase because the government’s goal is to make these loans sustainable to reach more people,” Dr Gwajima said before the signing of the two-year agreement yesterday.

She was of the view that, if invested prudently, the funds could have a significant developmental impact by stimulating economic growth and improving household incomes.

The loans, Dr Gwajima said, were part of the government’s new initiative to empower specific groups and ensure that only the intended beneficiaries receive assistance.

In his remarks, Dr Shekalaghe said the decision to pick NMB as the lender for funds concludes their ministry’s process of seeking a partner bank for various operational and developmental issues.

He said the funds will be disbursed on an annual basis and will follow the government’s new approach and procedures for financing income-generating projects for special groups.

“The registration of eligible beneficiaries has already begun, with special IDs being issued to entrepreneurs,” he said.

In her remarks, the NMB Bank CEO, Ms Zaipuna, said the agreement was a testament to the bank’s substantial efforts to support the Sixth Phase Government’s endeavours to improve the business environment for all entrepreneurs in the country, including small ones. “We received awards this year, including Best SME Bank in Tanzania and Best SME Financier for the year 2024, which qualifies it to better manage the soft loan facility,” Ms Zaipuna said, stressing that the funds were in safe hands.

The bank, she said, has disbursed a total of 129,540 loans, valued at Sh2.03 trillion, to entrepreneurs from 2020 to 2023.

She said the agreement with the ministry would expand the bank’s reach to more small-scale entrepreneurs in the country.

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Tanzania Declares Marburg Outbreak – Africa CDC Mobilizes Immediate Response

Tanzania Declares Marburg Outbreak – Africa CDC Mobilizes Immediate Response

Addis Ababa, January 20, 2025</Strong> — Tanzania has declared a Marburg virus disease (MVD) outbreak after confirming one case and identifying 25 suspected cases in the Kagera Region of Northwestern Tanzania. The Marburg virus, a highly infectious and often fatal disease, is similar to Ebola and is transmitted to humans from fruit bats and monkeys. This outbreak marks the nation’s second encounter with the deadly virus, following the outbreak in Bukoba District of Kagera Region in March 2023, which resulted in nine cases and six deaths.

In response to this urgent threat, the Africa CDC is mobilizing strong support to help Tanzania contain the outbreak. A team of twelve public health experts will be deployed as part of an advance mission in the next 24 hours. The multidisciplinary team includes epidemiologists, risk communication, infection prevention and control (IPC), and laboratory experts to provide on-ground support for surveillance, IPC, diagnostics, and community engagement.

The Director-General of Africa CDC, Dr. Jean Kaseya, has engaged with Tanzania’s President Samia Suluhu Hassan and the Minister of Health to ensure coordinated efforts and secure political commitment for the response.

“Africa CDC stands firmly with Tanzania in this critical moment. To support the government’s efforts, we are committing US$ 2 million to bolster immediate response measures, including deploying public health experts, strengthening diagnostics, and enhancing case management. Building on Tanzania’s commendable response during the 2023 outbreak, we are confident that swift and decisive action, combined with our support and those of other partners, will bring this outbreak under control,” Dr. Kaseya stated.

Africa CDC has recently supported efforts to enhance the diagnostic and sequencing capacity of public health laboratories in Tanzania. PCR Test kits and genomic sequencing reagents have been dispatched, with additional supplies in the pipeline. To ensure rapid identification and confirmation of cases, the institution will also provide technical assistance to strengthen detection and genome sequencing for better characterization of the pathogen. Additionally, support will be provided to improve case management protocols and enhance the capacity to deliver safe and effective treatment.

Africa CDC is committed to working closely with the Government of Tanzania, regional partners, international organizations, and global stakeholders, including the World Health Organization, to stop the spread of the Marburg virus.

Source: allafrica.com

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