News Column

Tanzania : NMB carefully studying development of industries

August 20, 2014

THE NMB Bank has announced it was implementing some studies before it decides to offer loans on mining, gas and oil undertakings in the country. NMB Chief Risk Officer Mr Tom Borghols said the bank is carefully examining the growth of the industries and the involving risks before it finally takes a decision whether to dish out loans or not.

He added : "We are aware that of late mining industry is fast growing in Tanzania as well as the oil and gas but as a bank we are very careful before we can venture into supporting those businesses".

He said this in response to a question posed by one mining dealer Mr Chacha Marwa Warioba who challenged the Bank to start offering loans to businessmen engaged in mining activities.

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Source: TendersInfo (India)

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