Dar es Salaam, Oct. 21 -- ARUSHA: NMB Bank, in collaboration with the government, is set to provide single-digit interest loans to micro, small and medium enterprises (MSMEs) through the use of digitalised ‘machinga IDs.

The initiative follows the governments signing of an 18 billion/- agreement with NMB Bank to support the programme.

These loans, offered at a competitive 7.0 per cent interest rate, will be accessible to entrepreneurs who hold the newly issued digital ‘machinga IDs, officially launched recently in Arusha.

The IDs serve as a guarantee for loan applications, facilitating easier access to financial support for MSMEs.

The Minister for Social Development, Gender, Women and Special Groups, Dr Dorothy Gwajima sai...