NMB Bank has committed Sh165 million to the 2026 Kariakoo Festival, in a move expected to support traders’ sales while expanding the use of digital payments in one of Tanzania’s busiest commercial centres.
The three-day festival will take place from September 25 to 27 at Mnazi Mmoja Grounds in Dar es Salaam, bringing together traders and consumers as businesses seek to increase sales and clear stocks ahead of the end-of-year trading season.
NMB’s support will also give traders an opportunity to access and use the bank’s digital payment platforms, including NMB Lipa Namba, NMB Mkononi and NMB Tap.
Speaking during the launch of the festival’s third edition on September 8, NMB Head of Business Alex Mgeni said the bank would use the event to promote digital payment solutions and financial services tailored to small and medium-sized businesses.
“Traders will have an opportunity to receive payments through NMB Lipa Namba and NMB Mkononi, as well as use NMB Tap,” Mr Mgeni said.
He said the bank would also provide information on Mshiko Fasta and the NMB SME World Business Credit Card, which offer financing options for businesses seeking to meet their working-capital needs.
The festival was officially launched through a procession that passed through various streets in Kariakoo before ending at the Kariakoo Main Market.
The launch was led by Kariakoo Market Corporation General Manager Ashraph Abdulkarim on behalf of Ilala District Commissioner Edward Mpogolo.
Mr Abdulkarim said the festival would give traders an opportunity to sell goods at discounted prices while helping them reduce stocks held in warehouses as the year-end trading period approaches.
He urged traders to register early and encouraged consumers to attend the festival in large numbers to take advantage of discounted products.
The partnership between NMB and the festival comes as businesses increasingly adopt digital payment channels to facilitate transactions and improve access to financial services.
For Kariakoo traders, the festival is expected to provide both a platform for boosting sales and an opportunity to expand the use of formal financial services in their day-to-day operations.