Micro bank helps Gordon vendors

Business

THE National Development Bank (NDB) through the People’s Micro Bank (PMB) is assisting new vendors at the Gordon Market to open savings accounts.
PMB marketing officer Tizuha Kiki said they wanted to encourage the vendors save money and to develop their businesses.
Kiki said the minimum deposit was K20 and vendors needed to produce two identification (ID) cards.
Withdrawal of their savings was flexible but must meet the bank’s requirements.
The PMB offers a minimum loan of K500 with a monthly repayment of K49 to help vendors expand their businesses.
They need K600 in their account.
“We will not touch their savings unless they don’t meet their monthly loan repayment obligation,” Kiki said.
Kiki said the vendors had shown a lot of interest.

One thought on “Micro bank helps Gordon vendors

  • Thats a very good initiative taken for the grass roots selling their produce in Gordons market.
    Getting loan is ok but can anyone manged it on when and how to spend and invest.Management skills is a problem so please provide a consultant to oversee and manage it for the good of receivers.

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