• May 2021

    NBC HOLDS TRAINING WORKSHOP FOR TABORA AMCOS LEADERS

    Tabora 18 May 2021 National Bank of Commerce Limited (NBC) through NBC Shambani specialized banking services targeting customers in the agriculture sector has conducted a strategic training seminar for leaders of more than 102 Cooperative Societies (AMCOS) in Tabora Region. The training seminar was aimed at imparting them with knowledge on the benefits attached to NBC Shambani Assets & Liabilities, the importance of insurance in their daily operations, the use of foreign currency services at NBC, and efficient income management to bolster their eligibility to lending.

    The event was officially opened by Tabora Municipal Council Director, Mr Bosco Ndunguru on behalf of Tabora DC and attended by various stakeholders including the Regional Assistant Registrar of Cooperative Unions, Mr Absalom Cheliga, leaders and members of over 102 Cooperative Societies engaged in tobacco farming from Tabora Urban, Sikonge, and Uyui districts.

    Apart from that training, NBC through its Head of Islamic Banking and MSME, Mr Raymond Urassa rewarded Isolelansabo AMCOS Chairperson, Ms Mary Merrick on behalf  of AMCOS members  with a brand new motorcycle to aide AMCOS in their  daily activities, including farmer visitations at grassroots level. The bank also donated three bicycles to farmers as a compliment to their efforts in getting the highest yields the past tobacco season.

    Launching the forum on behalf of the Tabora District Commissioner, the Municipal Director, Mr Bosco Ndunguru hailed the bank for enabling and providing low-cost loans and banking services to tobacco growers in the region with tobacco as a cash crop being significant contributor to the region's revenue.

    He also appealed to the bank to expand their services to other crops to pave the way for more opportunities to farmers of other crops. "It is a great opportunity for individual farmers and those in unions in our region. Let’s seize these opportunities presented to us by NBC so that we start engaging in commercial agriculture, getting more yields and earning more income,” he noted.

    On his part, NBC’s Head of Islamic Banking and MSME, Mr Raymond Urassa said that the bank through its service dubbed “NBC Shambani” is efficient, well organized and ready to serve its customers  including farmers of various crops such as tobacco, coffee, avocado, cotton and tea etc.

    Referring to banking services for individual farmers, Mr Urassa said that a farmer doesn’t need an opening balance to open an NBC Shambani account,  he further echoed that Shambani Accounts also don’t have monthly running fees. "In addition to the opportunity of shilling and dollar accounts, AMCOS/UNION accounts at NBC also do not have monthly fees which allow the unions to keep their operating costs low, thus increasing their efficiency."

    On her  part, the motorcycle donation  beneficiary and Chairperson of Isolelansabo AMCOS, Ms Mary Merrick thanked NBC for the support and said it would help her in running her AMCOS operations with more ease and efficiency. She also commended the bank for providing quality services at low costs and low interest loans that enable farmers to meet their farming input needs on time.

    The stakeholders expressed optimism that it will counter several challenges facing farmers, including delays in getting loans, high interest rates, lack of training on money management and high cost in maintaining accounts in other institutions. NBC Shambani is available through the bank’s branches countrywide.

  • April 2021

    NBC donates 250 desks, 250 chairs and tables to Kibiti district

    Kibiti, Coast: April 17, 2021:

    National Bank of Commerce (NBC) on Saturday 17 April 2021 donated 250 desks, 250 chairs and tables to Kibiti district as part of the bank’s unique Corporate Social Responsibility Programme (CSR) that seeks to promote quality education in Tanzania.

    Further, the bank trained over 200 women Micro enterprises (MSMEs) in the district on the basic methods of business and financial management to position them for access to finance. The desks were handed over by the bank’s Retail Director Elibariki Masuke during a function held at the KIbiti District Commissioner’s Office.

    The event was also attended by the Kibiti Member of Parliament Hon. Twaha Mpembenwe alongside other Kibiti District officials including the District Commissioner and District Executive Director who received the donation. During the handover, Mr Masuke said that the bank is committed to assist in improving the welfare of local communities through interventions in education and that they were deeply touched by the inadequacy of desks hence decided to contribute and ensure students get proper learning environment. He also advised students and staff members to take care of the furniture and have a sense of ownership.

    During the MSMEs training, Mr Masuke said that apart from access to finance, the major reason most banks refuse to lend to SMEs is their informal management structure and  that is why, the bank decided to engage other institutions like TanTrade, SIDO, VETA and individual consultants to educate them on key managerial skills that would not only help small businesses access funds, but also ensure their business growth.

    The bank has consistently been committed to economic empowerment of individuals and growing entrepreneurs through partnership with various institutions and authorities such as the Business Registrations and Licensing Agency (BRELA), the Tanzania Bureau of Standards (TBS) and the Tanzania Business Women Association (TABWA).

    In his remarks, Kibiti District Commissioner Mr Gullamhussein Kifu expressed his gratitude to NBC for the timely support. He asked the bank to continue supporting education and women SMEs in the country. "The donation will help minimize challenges that the school is facing such as inadequate facilities and furniture.’’ he said.

    Speaking on the SMEs training, Mr Kifu called on MSMEs in the district to adhere to the principles of financial management and spending in order to protect and boost their capital.

    “We believe that at the end of this training, beneficiaries will be in position to put up proper strategies on how to improve their businesses, look for markets locally and internationally, understand factors that banks consider before loans issuance as well as the reasons that make businesses poor performance.’’ He said

    Apart from thanking the bank, the MSMEs were optimistic that the training would add up their capacity as well as efficiency in conducting their business.

  • March 2021

    TADB, NBC to disburse TZS 20 bn to empower thousands of small-holder farmers in agri-value-chains

    • Aim to increase capital of small-holder farmers and transform the agricultural, livestock and fisheries sectors

    Dar es Salaam. Tuesday, 13th April, 2021. The Tanzania Agricultural Development Bank (TADB) has entered into a key partnership with the commercial bank, NBC, that aims to disburse a whopping TZS 20 billion to empower thousands of small-holder farmers across the country through low-interest loans, so as to grow their businesses and bring out rapid transformation in the agricultural, livestock and fisheries value-chains.

    The agreement, which was signed today at the TADB headquarters in Dar es Salaam, will enable the agri-bank to guarantee farmers applying for loans at NBC. The loans will be disbursed at an interest rate as-low-as 14 per cent. The guarantee is administered by TADB through a special programme called the Small-holder Credit Guarantee Scheme (SCGS). 

    “For many years, small-holder farmers in the country have struggled to access affordable finance. Many had no option but to accept commercial loans at high-interest rates, which have been very challenging for them in making repayments,” said Derick Lugemala, Director of Finance and Resource Mobilization at TADB.

    “Therefore, as a development finance institution, through our innovative guarantee scheme for small-holder farmers, we have taken the necessary action to offer low-interest loans in partnership with NBC, so as to enable many more farmers in the country to access affordable capital,” said Lugemala.

    On his part, Elvis Ndunguru, the Director of Business Banking from NBC said that the guaranteed loans will be disbursed in the following order:

    “Individual small-holder farmers will access loans up-to TZS 50 million, farmer groups and societies will get up-to TZS 500 million, while registered SMEs whose agricultural projects benefit small-holder farmers will get access up-to TZS 1 billion.” 

    Elaborating on the loan requirements, Ndunguru said, “For a farmer or SME to access these affordable loans, one will have to have an active agri-business and hold an accounting record of his or her business. These loans are accessible across all our 47 NBC branches in Tanzania mainland and Zanzibar. We would therefore like to call upon all small-holder farmers and SMEs with linkages to small-holder farmers to take charge of this opportunity.”

    In addition, Lugemala, said that the aim of these affordable loans is to catalyse commercial banks and financial institutions to disburse more loans to farmers and eventually enhance the growth of the agricultural, livestock and fisheries value-chains in the country.

    “Up-to March 2021, the TADB SCGS scheme had already pumped in TZS 75 billion into various agricultural, livestock and fisheries projects, impacting 11,000 beneficiaries directly and 755,000 indirectly. Among the value-chains which we have financed include that of cashew-nuts, paddy, coffee, sugarcane, maize, cassava, cotton and poultry,” explained Lugemala.

    According to TADB, the SCGS scheme was established in 2018. In the past three years, TADB has partnered with commercial banks and financial institutions such as NMB, CRDB, Azania Bank, TPB, Stanbic Bank, FINCA Microfinance, UCHUMI Commercial Bank, Tandahimba Community Bank (TACOBA), Mufindi Community Bank (MUCOBA) and now NBC.

    TADB believes that through this strong network of strategic cooperation, a large number of small-holder farmers will be reached,” emphasized Lugemala.

    Ends

    NBC Bank trains women SMES on business quality and credit

    Dar es Salaam; March 7th 2021:  WOMEN entrepreneurs in the country have been advised to increase their efforts to further improve business ideas as well as increasing the quality of their products in order to convince financial institutions to lend them easily.

    Speaking at the closing of the Tanzania Business Women Trade Fair held in Dar es Salaam for four days, NBC Bank's Relationship Manager, Ms Consolatha Shayo said financial institutions are driven to lend based on the quality of the business idea and not the name or gender of the borrower.

    She said that is why NBC bank has been at the forefront ensuring that it continues to sharpen the skills of the entrepreneurs in order to improve their business ideas and products to enable them to do their business professionally and make a profit that will enable them to repay their loans.

     “That is why through this kind of platforms we have been training them and emphasize on the importance of building their brand names and products rather than their personal names as financial institutions focus more on their business and not their gender or personal names,” said Consolata.

     In addition to sponsoring the exhibition, the bank also organized several training programs for entrepreneurs including a business clinic involving various institutions and authorities including the Business Registrations and Licensing Agency (BRELA) and the Tanzania Bureau of Standards (TBS).

    The bank further used the opportunity to ‘sell’ its products and services especially those related to women and entrepreneurs including NBC Kua Nasi account and Johari account.

    "NBC Kua Nasi is a special account for all SMEs including street food vendors, boda bodas and similar others while Johari account is designed specifically for women as it enables them to save a small amount starting with only 10,000 shillings. All of these accounts have no monthly deductions, '' she said.

    For her part, the Director of the Tanzania Business Women Association (TABWA) Noreen Mawala, whose institute co-ordinated the exhibition, congratulated NBC Bank and other stakeholders for making the exhibition a success, said her office is currently organizing a trade tour to Oman and Comoros to provide opportunities for the members to advertise their businesses in the two countries.

    "After the success of this exhibition which coincided with the celebration of International Women's Day we are preparing ourselves for a trade tour in Oman and Comoros to open more doors and promote our business abroad," she said.

  • October 2017

    NBC Customer Service month

    NBC Personal Banker Prisca Ngonyani and NBC Relationship Manager Junken Njunde presenting flowers and gifts to Tanzania Civil Aviation Authority Director General Hamza Said Johari (centre) as part of the NBC Customer Service month to thank loyal and valued customers.

    A jovial NBC customer Mr. Sosthenes Rutta Bruno receives a gift and bouquet of flowers from NBC Personal Banker Prisca Ngonyani (centre) and NBC Relationship Manager Bernard Tibaijuka when the two colleagues paid a visit him as part of the NBC Customer Service month to thank loyal and valued customers.

    NBC launches Malengo Savings Account Campaign

    The Malengo Savings Account is a savings account that is specifically designed to help customers achieve their goals within a specific period of time. The campaign will last for three months from 9 October 2017 to 8 January 2018. During the three month campaign period depositing customers will benefit from an attractive interest rate and also stand a chance to exciting prizes. The campaign will award prizes to a total of 30 winners at the end of campaign. Two draws will be held in the month of October and November where there will be a total of 24 winners who will each receive TZS1 million. In December there will be a grand draw that will pick six winners for the grand prize of six brand new Suzuki Super Carry pick-ups. For the grand prizes all participants of the Malengo Savings Account campaign will have a chance to win the prizes.

    NBC launches Kikundi Account

    In the quest to acquire new customers, especially the unbanked, as part of the financial inclusion agenda, NBC launched a new account for informal and formal socio-economic groups called the Kikundi Account.
    This account is designed to cater for the transactions needs for both formal and informal groups such as Village Community Banks (VICOBA), women social groups, neighbourhood groups, school groups, SACCOS and the likes. These are groups which are collectively formed by informal or formal members with a common set of objectives to help one another in times of need.
    This account provides the group with a cheque book option to facilitate funds control as well as their day to day transactions.

  • August 2017

    NBC celebrates turning 50 years – August 2017

    From left to right: Deputy Governor Bank of Tanzania Dr Kibesse, Deputy Finance Minister Hon Dr Ashatu Kijaji, NBC Board Chairman Nehemiah Mchechu, The Vice President H.E. Samia S Hassan and NBC Acting MD Theobald Sabi in a jovial mood during the gala evening.

    Yvonne Chaka Chaka receiving a standing ovation from invited guests and dignitaries for her outstanding performance

    NBC Partners with China Union Pay International

    NBC launched a partnership with China UnionPay, which will allow UnionPay cardholders to transact at NBC ATMs and Point-of-Sale devices across the country as well as throughout the bank's network in Tanzania.
    UnionPay card holders will be able to transact from the bank's network of over 220 ATMs and 165 Point-of-Sale devices through its 95 merchants across the country.
    China UnionPay International has over five billion cardholders globally and is the preferred payment brand for Chinese nationals. With Tanzania projected to receive Chinese tourists in the region of 40,000 in 2017. Tanzania hosts more than 30,000 Chinese nationals, more than 650 state and privately owned organisations spread across various sectors of the economy and undertaking vast infrastructure, manufacturing, tourism, transport, agriculture and telecommunications projects. It is thus pertinent for NBC to provide financial solutions that meet the growing usage of cards. China has proven to be one Tanzania’s largest foreign investors and has helped to create over 80,000 local jobs, and train a large number of management and technical personnel for Tanzania.

  • July 2017

    NBC launches Business Clubs for SMEs - July 2017

    NBC has launched Business Clubs, which trades as NBC B–Club, in Kahama, Mwanza, and Mbeya following a one-day capacity building workshop for entrepreneurs and businessmen and women. One of the NBC B–Club’s main objectives is to provide non-financial support services through business skills training and capacity building to NBC SME customers, as part of NBC’s commitment in supporting them to grow.

    NBC Acting Managing Director Theobald Sabi (centre) greets Vodacom Tanzania Managing Director Ian Ferrao during a function hosted by VTL in celebrating the successful listing on the DSE. Looking on is NBC Director of Retail Banking Filbert Mponzi

    Kahama entrepreneurs taking selfie photos during the launch ceremony of NBC Business Club in Kahama.

  • June 2017

    NBC holds Iftar for customers in Dar es Salaam – June 2017

    Former President H. E Alhaj Ali Hassan Mwinyi giving a word of thanks during an Iftar hosted by NBC for its customers and invited guests. On the left is Theobald Sabi, NBC Interim Managing Director and on the right is Filbert Mponzi NBC director of Retail Banking, followed by former Prime Minister Dr. Salim Ahmed Salim.

    2nd Malengo vehicle handing over event – June 2017

    NBC Head of Lending, Andrew Lyimo (centre), presenting keys to Mrs Rose Richard Getenyi who received a brand new Toyota Double Cabin Pick Up on behalf of her husband, Mr. Lawrence Cletus Njozi. He won the vehicle during the NBC Malengo Account campaign. Looking on is NBC’ss Liabilities Manager, Dorothea Mabonye. The hand-over ceremony was held at the NBC Head Office recently.

  • May 2017

    50 Years Golden Jubilee Celebrations Dodoma – May 2017

    The minister for Finance and Planning, Hon. Dr. Philip Mpango gives a thumbs up in appreciation for the TZS1.2 billion cheque issued by NBC as dividend payment to the government of Tanzania. The hand-over event was held during NBC’s 50 Years Golden Jubilee gala evening in Dodoma. On the left clapping his hands is Nehemia Mchechu, NBC Board Chairman, in the centre is NBC Managing Director Edward Marks and on the right is Mr. Elias Mwakibinga, Deputy Treasury Registrar.

    NBC appointed lead bank in the country’s largest IPO – May 2017

    NBC Acting Managing Director Theobald Sabi (centre) greets Vodacom Tanzania Managing Director Ian Ferrao during a function hosted by VTL in celebrating the successful listing on the DSE. Looking on is NBC Director of Retail Banking Filbert Mponzi

    NBC Acting Managing Director Theobald Sabi introduces NBC Director of Retail Banking Filbert Mponzi to Reenu Verma Vodacom Tanzania’s Business Manager in the MD’s Office. Looking on the right is NBC Head of Global Clients Wilson Nkuzi.

  • March 2017

    Malengo winner – March 2017

    NBC Head of Retail Banking Filbert Mponzi (centre), handing over insurance cover of a brand new Toyota Hilux Double Cabin Pick Up to one of the winners of the 3-month long Malengo Savings Account Campaign, Mr. Aldo Aidan Nsuha at a function in Dar es Salaam yesterday. Looking on is the winner’s wife Mrs. Zenobia Tarimo.

  • February 2017

    Malengo Savings Account Campaign Draw – February 2017

    NBC Head of Retail Banking Filbert Mponzi (centre), speaking in Dar es Salaam yesterday, before the Malengo Savings Account campaign draw for two brand new Toyota Double Cabin Pick Up vehicles that NBC has given out as main prizes to their customers. The Malengo Savings Account campaign was held over a 3 months period and two eventual winners were announced through a draw. He is flanked from left by Dorothea Mabonye, NBC Retail Liabilities manager and from the right Alina Kimaryo, NBC Marketing Manager.

  • January 2017

    Retail Banking Council Awards Night – January 2017

    Jubilant NBC Corporate branch Manager, Mariam Kombo, displays a certificate after she was announced the Bank’s 2016 Best Branch Manager during the ‘NBC Retail Banking Council Awards’ in Dar es Salaam recently. Looking on is NBC Retail Banking Director, Filbert Mponzi.

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