Monday, May 31, 2021

NMB unveils digital finance solutions platform for youth

nmb PIC

From left: NMB Bank Plc’s head of marketing Rahma Mwapachu, Dar es Salaam zone manager Donatus Richard chief of retail banking, Filbert Mponzi, Temeke District Commissioner Godwin Gondwe, Deputy Minister of State in the Prime Minister’s Office (Policy, Parliamentary Affairs, Labour, Youth, Employment and Persons with Disability) Patrobas Katambi and the bank’s acting internal auditor Benedict Balagomwa jointly unveil a platform ‘Go na NMB’ which aims to give youth access to financial literacy programmes, loans, networking and career fair events. PHOTO|THE CITIZEN CORRESPONDENT

By Josephine Christopher

Dar es Salaam. NMB Bank Plc is introducing a banking solutions platform for youth in a deliberate move to promote digital finance in line with Tanzania’s aspiration of becoming a cashless or at least less cash economy.

Codenamed “GO na NMB”, the new product supports the national financial inclusion agenda by promoting digital finance.

The proposition, which was introduced in Dar es Salaam during an event that was graced by the Deputy Minister of State in the Prime Minister’s Office (Policy, Parliamentary Affairs, Labour, Youth, Employment and Persons with Disability), Mr Patrobas Katambi, will be rolled out across Tanzania.

Through “GO na NMB”, one can immediately access digital enrolment, targeted deals and offers through all NMB channels, access to Masterboda loans and QR payment discounts deals.

The benefits package also comprises free mobile phone insurance, financial literacy progammes as well as access to networking events, career fairs, internship opportunities and free Wi-Fi spots at some university campuses.

“This product offers the youth access to customized banking and financial solutions that serve their needs….Every child and youth has a right to safe, accessible financial services, and we need to empower them to grow into productive economic citizens,” NMB Bank head of retail banking Filbert Mponzi said at the weekend.

Apart from ensuring more youth have access to formal financial services, the solution also enables youth to establish a disciplined culture with regards to their finances.

“Tanzania has a young population, which means the youth play a major role in economic growth now and in the future. As such, it is important to build their financial capabilities, which requires concerted efforts from the public, private, and social sectors,” Mr Mponzi said.

In his remarks, Mr Katambi said the introduction of the solution was timely because the youth segment was an invaluable asset and strategic human resource on which the country’s future and prosperity hinges.

“The ‘GO na NMB’ platform I am about to officially launch today has all those virtues and it is an innovative scheme the government fully supports because such initiatives help us to address challenges encountered by young people,” Mr Katambi said.

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