Tanzania Daily News (Dar es Salaam)

Tanzania: NMB Gets New Board of Directors Chairman

A SEASONED economist and academic, Professor Joseph Semboja, has been elected Chairman of the Board of Directors of the National Microfinance Bank (NMB), effective November 5, this year.

Prof. Semboja takes over from Mr Misheck Ngatunga who retired in May, this year. "Prof. Semboja is an acknowledged leader in the field of development economics, with extensive research experience in the areas of growth and poverty reduction in sub-Sahara Africa.

"He is widely known for his contribution in institutional development and promotion of research and capacity for policy development and implementation," NMB said in a statement issued in Dar es Salaam yesterday. NMB said in the statement that Prof. Semboja brings to the bank an extensive network of individuals and institutions operating in differing environments both nationally and internationally.

Prof. Semboja holds a B.A and M.A degrees from the University of Dar es Salaam (UDSM); M.Sc and Ph.D. from the University of Illinois, Urbana-Champaign in the United States. He taught economics at UDSM, headed a highly regarded think tank, Research on Poverty Alleviation (REPOA) and now heads a leadership capacity building organisation, Institute of African Leadership for Sustainable Development (UONGOZI Institute).

The Management and staff of NMB welcomed the appointment of Prof. Semboja, describing him as: "A highly competent and seasoned board member who will bring value and contribute towards achieving NMB vision of becoming the preferred financial partner in Tanzania."

NMB is the leading retail bank in Tanzania, with 1.7 million customers, 143 branches and 2,800 employees. The bank has a fully-fledged mix of lending, transactional, savings and treasury solutions for its retail, wholesale and government customers.

NMB pioneered mobile banking in Tanzania with 700,000 registered users and is the largest debit card issuer with over 1.2 million cards in circulation, and close to 500 ATMs. NMB is listed on the Dar es Salaam Stock Exchange (DSE).

Ads by Google

Copyright © 2012 Tanzania Daily News. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.