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.