By Business Insider Reporter
NMB Bank has set aside TSh2 billion to support technology startups, with Vice-President Deogratius Ndejembi challenging financial institutions to demonstrate how such investments translate into sustainable businesses, jobs and economic growth.
Speaking at Tanzania Startup Week 2026 in Dar es Salaam, VP Ndejembi commended NMB for supporting youth innovation but stressed the need to measure the impact of such initiatives by tracking the funds spent, the number of businesses benefiting and those that eventually become self-sustaining.
He also urged local lenders to address barriers that prevent startups from accessing credit, particularly the lack of collateral required by conventional lenders.
The call puts the spotlight on the effectiveness of financial support for Tanzania’s emerging businesses, many of which face challenges in securing funding, reaching customers and turning innovative ideas into commercially viable products.
NMB Managing Director and Chief Executive Officer Ruth Zaipuna said six startups were already selling their solutions through the bank’s platforms, with another five expected to be integrated by the end of 2026.
The bank aims to increase the number of startups connected to its systems to 30 by 2030, giving these businesses potential access to NMB’s customer base of more than 10 million.
The arrangement could help startups expand their reach without having to build extensive distribution networks independently. The bank also plans to establish an NMB Innovation Hub to stimulate the development and growth of innovative businesses in the country.
The bank’s Innovation Manager, Maria Mwamnyalla, said more than 300 innovations had been tested through the NMB Sandbox since 2021.
She said the TSh2 billion allocation would help remove technological barriers that prevent startups from accessing markets.
NMB has been the main sponsor of Tanzania Startup Week since 2024, underscoring its continued engagement with the country’s innovation ecosystem.
