Tanzania: NMB Debuts Self-Service Banking, Insurance Solution

By Dailynews Reporter

NMB Bank Plc yesterday unveiled a novel banking and insurance solution, which the government said will be decisive in promoting the national digital inclusion agenda.

The debut of NMB Mkononi Plus, according to the lender's Chief of Retail Banking, Mr Filbert Mponzi, was yet another proof of the unrivalled innovation prowess of the bank in the market.

Speaking on behalf of Chief Executive Officer Ruth Zaipuna, Mr Mponzi said the all-digital platform confirms NMB Bank's sectoral leadership in serving the country with value added solutions.

"NMB Mkononi Plus is another outcome of our continued investment in digital transformation and innovation. This new solution is for serving all Tanzanians provided one has a digitally connected cell phone," he said.Speaking before gracing its launch, the Minister of Communications and Information Technology, Dr Faustine Ndugulile, said the solution augurs well with the government's digitization e

He stated that since the product caters for both customers and those not banking with lender it will be catalytic in furthering the national digital inclusion agenda and attaining the digital economy ambitions.

"This is an excellent move that is in line with the digital economy aspirations of the government, which is doing all it takes to put in place supportive conditions for such initiatives and other ICT services to thrive," Dr Ndugulile said.

According to him, the government through various undertakings has tremendously transformed the country's digital landscape consequently creating commercial opportunities that banks can exploit for business.

These include the National ICT Backbone (NICTBB) project whereby so far 7,910-km of the fibre optic infrastructure has been completed. The goal is to reach 15,000-km by 2025 and connecting the whole Great Lakes market, the minister stated.

"The number of registered SIM cards has now reached 51 million whereas those used for mobile money services number 32 million and accessing the internet 29 million. These achievements portray a rosy picture of the huge business potential in digital finance," he added.

NMB Mkononi Plus solution has been customized for customers as a one-stop-shop for all the lender's NMB services. Initially it will offer NMB's BIMA USSD, Dunduliza and Pamoja Account services and later on incorporate other products.