NMB Bank has announced new measures to strengthen tourism enterprises in Arusha, pledging tailor-made loans and digital solutions to help investors expand in the sector that is Tanzania’s leading source of foreign exchange.
At a dinner meeting with more than 100 leading entrepreneurs from the region, NMB Chief Executive Officer Ruth Zaipuna said the bank is committed to unlocking growth opportunities for businesses in tourism and related industries.
“Tourism remains one of the strongest pillars of our economy, and Arusha is at the heart of it. NMB is determined to be your reliable partner by providing accessible loans, digital payment systems, and innovative financial solutions that will sustain and grow your businesses,” she said.
Data from the Bank of Tanzania shows the sector has already attracted 5.3 million visitors, generating more than USD 4 billion, making Tanzania one of Africa’s top destinations.
NMB’s Chief of Retail and Business Banking, Filbert Mponzi, underlined the bank’s capacity to support investors, noting that with over TZS 4 trillion in shareholder value, it can finance single clients with up to TZS 600 billion.
He outlined specific facilities for tourism businesses, including loans for developing guesthouses, building luxury camps, purchasing safari vehicles, and acquiring equipment on affordable installment plans.
Business leaders in attendance welcomed the move. “NMB has continued to stand firm despite tough competition in the banking sector. This gives us confidence as your clients, and we trust you will keep enhancing services,” said local entrepreneur Frank Kileo.
The bank also used the event to introduce new products such as digital payment systems, innovative cards, and insurance packages covering travel, health, transport, and cargo.
According to NMB’s Northern Zone Manager, Baraka Ladislaus, the forum was designed to listen to the challenges of business leaders, collect feedback, and align services to the fast-growing tourism economy.