National Microfinance Bank Touts Digital Banking

National Microfinance Bank (NMB) has said an efficient use of digital banking will facilitate easy access to banking services for all Tanzanians and increase financial inclusion.

The NMB’s Managing Director Ms Ineke Bussemaker said in Dar es Salaam yesterday that the Bank is committed to providing innovative solutions and banking services to individuals as well as small and medium sized businesses while responding to customer needs. She said NMB mobile banking and card services have given and eased customers’ access to financial services and other payment solutions.

With digital and mobile technology NMB can now reach many more customers in faraway rural areas and increase financial inclusion. “Of our 2.5 Million customers, over one million make use of NMB mobile app and mobile banking, checking balances, making payments to Luku, Dawasco, pay rent or taxes,” she said.

Today out of a population of 50 million Tanzanians, only 15 per cent of the people have a bank account. But more than 60 per cent of the people have a mobile phone and are able to make payments using a mobile wallet.

She said NMB will continue to bring innovations in the banking sector as already facilitated connection of over 145 councils in electronic revenue collection system, which is an easy and cost efficient tool.

“Early this year, we introduced a project with all local councils, districts and cities, to collect revenues and reconcile electronically. So no more cash payments to government councils and cities.

People who need to pay taxes or pay for permits can now pay using NMB mobile or can pay cash at NMB branches as well as cash collection points,” she said.

Other Milestone that NMB boosts is NMB Wakala especially after the partnership with Maxcom to use its MaxMalipo agents to offer all banking services to NMB customers at their doorsteps.

Originally published on DailyNews Tanzania