Make use of bank's loan facilities, urges JK

President Jakaya Kikwete has asked Simanjiro residents to come up with business proposals to access loans from the newly-inaugurated National Microfinance Bank (NMB) branch in the district. He told a public rally at Orkesumit on Friday that banks and other financial institutions were willing to support people's business initiatives provided they submitted viable proposals. "Do not just go to the bank empty handed and ask for loans. You need sound business proposals to secure the loans," said the president. He also advised them to form small groups that would evenly give them access to credit facilities. President Kikwete urged the residents to develop a culture of saving part of their income in the banks than in their houses, which, he said, was risky.The NMB branch is the first banking institution in the district. Previously, one had to travel to Arusha or Kiteto to get such services. Meanwhile, the NMB Chairman, Mr Misheck Ngatunga, said the Simanjiro branch was one of the 15 new branches to be inaugurated through the country. He said other branches to be launched this month include those in Kilindi, Rukwa, Kilole, Misenyi, Mvomero, Mukikombe and Longido. More branches will be opened next month in Tandahimba, Namtobo, Chato and Mkuranga. By December, Mr Ngatunga said his bank will have also opened branches in Rorya, Bahi and Mkunyumbu.