This was said by the NMB official responsible for Control and Implementation,
"Farmers, fishermen and livestock keepers have a reason to increase borrowing and expand their economic activities after NMB cut down lending cost to 9 per cent from over 10 per cent last year," he said.
He added, "The reduction of lending rates to single digit is the implementation of the plea made by President Samia Suluhu Hassan last year seeking commercial lenders to cut down cost of lending to give relief to borrowers,"
He said also that special arrangement for interest rates will be made for small scale business people borrowing between 500,000/- and 5m/- when they meet the criteria.
He said before
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