By Business Insider Reporter
The Tanzanian government has reaffirmed its confidence in NMB Bank, praising the lender’s growing contribution to public revenue collection, financial inclusion and private sector development as the country accelerates implementation of its Dira 2050 economic transformation agenda.
Finance Minister Ambassador Khamis Mussa Omar commended NMB during a meeting with the bank’s leadership, led by Chief Executive Officer Ruth Zaipuna, in Dar es Salaam, describing the bank as one of the government’s most strategic financial partners.
The minister said NMB has continued to play a pivotal role in supporting the economy through efficient tax revenue collection, dividend payments to shareholders, including the government, and the delivery of innovative financial services that benefit businesses and households.
“Overall, you have done an excellent job, including your contribution through dividends. We are confident that the Government will continue working closely with NMB in various areas, particularly revenue collection and the provision of other financial services,” Ambassador Omar said.
He added that the government expects the partnership to deepen in 2026 as Tanzania pursues higher economic growth driven by private sector investment, industrialisation and digital transformation.
Strategic partner in economic development
The minister noted that NMB has evolved beyond its traditional banking role to become a key development partner, supporting government institutions, financing development projects and expanding access to financial services across the country.
He also welcomed the bank’s progress in implementing its new five-year strategic plan, expressing confidence that the institution would continue expanding its services while strengthening its contribution to national economic development.
“NMB remains one of the financial institutions working closely with the Government, creating broader opportunities to support public institutions and strategic development projects,” he said.
The endorsement comes as Tanzania seeks to mobilise more domestic resources to finance infrastructure, industrial growth and social development while increasing financial inclusion.
Digital lending expands access to finance
During the meeting, NMB Chief Executive Officer Ruth Zaipuna unveiled the bank’s latest digital lending solution, designed to simplify access to credit for individuals and small businesses.
The new platform enables eligible customers to borrow up to TSh2 million entirely through digital channels without visiting a bank branch.
The system automatically assesses a customer’s transaction history and determines their borrowing limit electronically, significantly reducing approval times while expanding access to formal credit.
Zaipuna said the initiative is intended to support small and medium-sized enterprises (SMEs), women entrepreneurs and informal businesses that often face challenges obtaining working capital through conventional lending processes.
“Digital lending is making finance more accessible by allowing customers to obtain credit quickly and conveniently. This will particularly benefit small businesses that require timely capital to sustain and grow their operations,” she said.
Financial inclusion remains one of Tanzania’s key economic priorities, with digital banking increasingly viewed as a catalyst for entrepreneurship, business formalisation and inclusive growth.
Building financially resilient businesses
Beyond expanding credit, NMB is strengthening financial literacy among customers to ensure loans are used productively.
Zaipuna said the bank continues to invest in financial education programmes that help borrowers understand responsible borrowing, business planning and timely loan repayment.
The initiative aims to strengthen financial discipline while reducing default risks that often arise from limited financial knowledge.
Industry analysts note that combining digital finance with financial education is becoming increasingly important as banks compete to expand lending to underserved market segments while maintaining asset quality.
Investing beyond banking
NMB also continues to broaden its contribution through corporate social responsibility programmes.
As part of celebrations marking the bank’s 25th anniversary, the lender is financing the construction and rehabilitation of a school for children with special needs in Bahi District, Dodoma Region.
The project reflects the bank’s broader commitment to supporting inclusive social development alongside its commercial activities.
Zaipuna said NMB will continue investing in technology, strengthening digital banking platforms and working closely with government and other stakeholders to improve access to secure, efficient and affordable financial services.
Driving Tanzania’s digital economy
NMB’s continued investment in digital banking aligns with Tanzania’s broader ambition to build a modern, technology-driven financial sector capable of supporting economic transformation.
The expansion of digital lending is expected to increase access to formal finance, stimulate entrepreneurship and strengthen the role of SMEs, which account for the majority of businesses and employment in Tanzania. With government backing, continued technological investment and an expanding suite of digital financial products, NMB is positioning itself not only as one of Tanzania’s largest commercial banks but also as a key enabler of the country’s next phase of private sector-led growth.
