NMB Bank’s Chief Commercial Officer, Filbert Mponzi (second from right), displays a special award from MasterCard, received from MasterCard’s East Africa Resident Manager, Shehryar Ali (second from left). NMB Bank won the award for being the leading bank in card usage in the country. Also present are NMB’s Head of Cards, Philbert Casmir (right), and MasterCard East Africa’s Head of Commerce, Victor Ndlovu (left). Photo: Courtesy
NMB Bank Wins International Awards for Excellence in Financial Services
By Adonis Byemelwa
NMB Bank has clinched international excellence awards for its significant contributions to improving the lives of Tanzanians through its financial services and supporting national development efforts.
The accolades, awarded by the global financial and capital markets publication Euromoney for 2024, include Best Bank in Tanzania, Best Digital Bank, Best Bank for Environmental, Social, and Governance (ESG) initiatives, and Best Bank for Affluent and High Net Worth Customers.
Speaking after receiving the awards in London, UK, NMB’s Chief Officer for Large Customers and Government, Alfred Shao, highlighted that the bank’s recognition stemmed from its excellence, innovation, and contribution to the country’s economic growth.
“NMB believes in providing financial services that are easily accessible at all times. To ensure this is achieved efficiently, we continue to innovate online and digital systems to reach every customer and meet their financial needs,” he stated.
Shao emphasized that the bank’s acknowledgment is a result of its commitment to sustainable financial services as a cornerstone of its strategy, ensuring it offers valuable advice, funding, and investment solutions to the community.
Euromoney’s Editor-in-Chief, Louise Bowman, praised the bank for its robust digital system and agent network, which has enabled 96% of transactions to occur outside branch locations.
NMB’s success is a testament to the broader growth and innovation within African banking systems, particularly in Tanzania. In recent years, Tanzanian banks have increasingly embraced digital transformation to enhance financial inclusion and accessibility.
Mobile banking and digital platforms have become vital, enabling millions of Tanzanians to conduct transactions remotely, access loans, and save money more efficiently.
The evolution of banking in Africa, driven by mobile money and digital finance, has revolutionized how financial services are delivered.
Countries like Kenya and Nigeria have seen similar successes, with mobile banking giants like M-Pesa and digital banks leading the charge. Tanzania’s banking sector, with NMB at the forefront, continues to make strides in integrating technology to serve the unbanked population, contributing to the continent’s financial stability and growth.
