Tanzania’s NMB Bank Launches First Healthcare Club

The ‘NMB Healthcare Club,’ a network that provides loans for labour equipment, capital, and investment to participants in the health business, was founded by NMB BANK, the first financial institution in the country to do so.

So far, the bank has spent more than 32 billion/- on loans to the private health sector, out of a total of 112.5 billion/- projected to be spent through 2025.

The NMB Healthcare Club was inaugurated in connection with the Tanzania Health Summit 2021, which brought together more than 150 health sector players, including physicians, pharmacists, hospital owners, dispensaries, various health centres and institutions, and officials from affiliated parties.

The inauguration was held in Dar es Salaam over the weekend, with the Chief Medical Officer, Dr. Aifelo Sichwale, speaking on behalf of the Permanent Secretary of the Ministry of Health, Community Development, Gender, Elderly, and Children, and praising NMB for uniting and empowering key stakeholders in the country’s health sector.

Dr. Sichwale, speaking at the event, stated that the government has the responsibility to provide services to the people, including health, but that the opportunities and capabilities are insufficient, thus opening the door to the private health sector, and that they will continue to work with all stakeholders in the sector.

“The government has given its permission to today’s launch, and we support NMB in its efforts to bring together physicians and other key players in the country’s health sector, in support of President Samia Suluhu Hassan’s administration’s goals to improve the sector’s environment.” “The government’s objective is to create an environment in which entrepreneurs may contribute to the growth of the national economy by paying taxes, creating jobs, and raising money. We think that by joining the NMB Healthcare Club, members would get business expertise as well as financial education “Dr. Sichwale said.

He praised NMB for not only linking these important players, but also for their readiness to give free education that would otherwise be costly, particularly on saves, investment, and the significance of moving their money to a bank account, among other services.

Benedicto Baragomwa, NMB Bank’s Acting Chief Internal Auditor, thanked the Health Sector stakeholders for their efforts during the Covid-19 crisis, and stated that the bank helped its clients by providing financial recovery and modifying the loan repayment procedure.

“Our proximity to consumers was intended to help them overcome the problems created by the Corona pandemic.” Because NMB has been at the forefront of helping this health sector by providing medical supplies, especially those focused at serving a difficult, reproductive health area.

Dr Omary Chillo, President of the Tanzania Health Summit and Head of the Department of Physiology at Muhimbili University of Health and Allied Sciences (MUHAS), urged the government to expand possibilities for private health sector players to engage in ministry planning sessions.

Shedrack Mwaibambe, President of the Medical Association of Tanzania (MAT), described NMB as a bank that has never stopped trying in every area to eliminate the Tanzanian health sector, and that the NMB Healthcare Club is another assertion that gives key investors and stakeholders in the industry more power.