NMB

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nmbHistory

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. ge 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

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