20 April 2017

Tanzania: NMB Opens Centre for Three Regions

Kahama — National Microfinance Bank (NMB) yesterday opened a business centre here.

The aim is to bring services closer to micro, small and medium enterprises (MSMEs) in Shinyanga, Tabora and Kigoma.

The move is part of the bank's initiative to boost MSMEs.

Similar centres have been opened in Dodoma, Dar es Salaam Arusha, Mbeya, Morogoro, Kilimanjaro, Mtwara and Mwanza in the past three months.

NMB managing director Ineke Bussemaker said the inauguration of the Kahama centre was in response to the growing demand of the business community to have tailor-made products close to them.

Shinyanga Regional Commissioner Zainab Taleck urged customers to use the centre for their development. With 2 million customers, over 175 branches and over 600 automated teller machines, NMB has a footprint in more than 95 per cent of Tanzania's districts.

NMB is listed at the Dar es Salaam Stock Exchange. NMB's largest shareholders are its strategic partners Rabobank with a 34.9 per cent share and the Tanzania government with a 31.9 per cent share.

It was established in 1997, following the break-up of the old National Bank of Commerce, by an act of parliament.Three new entities were created at the time: NBC Holding Limited, National Bank of Commerce (1997) Limited and National Microfinance Bank .

Initially, NMB provided payment services as well as offered savings account, with limited lending capabilities. In 2005, the government privatised the bank when it sold part of its shareholding (49 per cent) to a consortium led by Rabobank Group. There was further divestiture in 2008.

Tanzania

State Injects U.S.$38 Million into Rural Communication

About three million Tanzanians in rural areas have accessed communication services under the Universal Communication… Read more »

Copyright © 2017 The Citizen. 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 900 reports a day from more than 140 news organizations and over 500 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.