Dar es Salaam. NMB Bank has set aside Sh2 billion to support technology startups, with Vice President Deogratius Ndejembi calling for measurable results, including the number of businesses that grow into sustainable enterprises.
The bank plans to increase the number of startups integrated into its banking systems from six to 30 by 2030, giving innovative businesses an opportunity to reach more than 10 million NMB customers.
Speaking at Tanzania Startup Week 2026 in Dar es Salaam, NMB managing director and chief executive officer Ruth Zaipuna said six startups were already selling their solutions through the bank’s platforms, while another five were expected to be integrated before the end of the year.
“Six startups are already selling their solutions through our platforms, and we expect to integrate another five before the end of this year,” she said.
Ms Zaipuna said the initiative was intended to help startups expand their market reach by connecting them with the bank’s extensive customer base.
“By leveraging our platforms, startups have an opportunity to reach more than 10 million NMB customers, helping them bring their innovations closer to the market,” she said.
The bank also plans to establish the NMB Innovation Hub to support innovative businesses and help entrepreneurs overcome challenges associated with developing and commercialising technology-based solutions.
However, the initiative comes with expectations that the funding will translate into tangible economic benefits, including business growth and job creation.
Ndejembi commended NMB for supporting youth innovation but stressed that the impact of such investments must be demonstrated through clear and measurable outcomes.
“We want to know how much money has been spent, how many startups have benefited and how many of them have grown to become self-sustaining businesses,” he said.
He said assessing the initiative should go beyond the amount of money committed to establishing whether the supported businesses could survive and grow independently.
The Vice President also urged financial institutions to develop financing mechanisms that accommodate startups struggling to access loans because they lack conventional collateral.
“Financial institutions should find ways of supporting startups that have viable business ideas but lack the collateral required to access loans,” he said.
His remarks highlight a longstanding challenge for emerging businesses, particularly technology firms whose assets may largely comprise software, intellectual property and innovative business models rather than buildings or other physical property.
Limited access to financing can prevent such businesses from developing products, recruiting employees and reaching potential customers, even when their ideas have commercial potential.
NMB innovation manager Maria Mwamnyalla said the bank had tested more than 300 innovations through its NMB Sandbox programme since 2021.
“Since 2021, we have tested more than 300 innovations through the NMB Sandbox, helping innovators assess and develop their solutions,” she said.
Ms Mwamnyalla said the Sh2 billion allocation would help address technological barriers that prevent startups from accessing markets.
“The funding will help remove technological barriers facing startups and enable them to take their solutions closer to the market,” she said.
The sandbox provides a platform for testing innovations, while integration into the bank’s systems creates an opportunity for businesses to reach a wider customer base.
NMB has been the main sponsor of Tanzania Startup Week since 2024, supporting efforts to promote entrepreneurship and technology-driven businesses.
The bank’s target of integrating 30 startups into its systems by 2030 provides a benchmark for measuring progress. However, the wider test will be whether the supported businesses increase revenue, create jobs and remain operational beyond the initial support.
For entrepreneurs, access to customers and financing could help turn innovative ideas into viable businesses. For the financial sector, the initiative presents an opportunity to demonstrate how partnerships with startups can contribute to economic growth.
The Vice President’s demand for accountability puts the focus on whether the Sh2 billion commitment will deliver lasting benefits for entrepreneurs and the wider economy.