National Microfinance Bank

Sector: Banking & Financial Services

History

In 1997, the National Microfinance Bank Limited Incorporation Act established the
NMB. In 2005, The Government of the United Republic of Tanzania started the
privatization process and sold part of its shareholding (49%) to a consortium led by the
Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (‘Rabobank Group’). In 2008,
the Government reduced its share to 30% through the sale of shares to the general
public in an IPO (16%) and to the NMB staff (5%). NMB became listed on the Dar es
Salaam Stock Exchange on 6th November, 2008.

Mission

Through innovative distribution, and its extensive branch network, NMB offers
affordable, customer focused, financial services to the Tanzanian community, in order
to realize sustainable benefits for all its stakeholders.

Vision

To be the preferred financial services partner in Tanzania.

Our Scope

NMB is the leading retail bank in Tanzania, with over 145 branches which are located
in more than 95% of all Tanzania’s districts, 1.7 million customers and close to 500
ATM’s. This broad branch and ATMs network distinguishes NMB from other financial
institutions in Tanzania. We are committed to sustaining and enhancing our branch
network in order to provide access to citizens in all areas of Tanzania, including the
most remote. NMB pioneered major innovations in the Tanzanian market including
mobile banking and PesaFasta, an ATM based remittance product targeted at the
unbanked. To date NMB Mobile has got over 700,000 customers who are registered
with the service. NMB is also making inroads in corporate banking, treasury, and
transactional services such as corporate payments, collections and trade finance.
NMB plays an important role in the agricultural value chain and pioneered warehouse
receipt financing for the country’s Agricultural Marketing Co-operative Society
(Amcos).

Summary

Locations: Tanzania
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