NMB’s Bussemaker handing over a money minting bank generating billions

17Dec 2018
By Guardian Reporter
Dar es Salaam
The Guardian
NMB’s Bussemaker handing over a money minting bank generating billions

ONE of the most powerful women CEOs in the country, Ineke Bussemaker has said she is proud to leave NMB Bank Plc as a leader in the market while giving women priority economically and in leadership.

Outgoing NMB Bank Managing Director, Ineke Bussemaker shaking hands with Bank of Tanzania Deputy Governor, Dr Bernard Kibese at a farewell party organized in her honour. Photo: courtesy of NMB.

Bussemaker who is leaving after serving as NMB Bank Plc Managing Director for the past four years, said at farewell party held last weekend she is happy to leave behind a strong institution and the most profitable bank in the market.

“I urge the public to do business with us given our strong foundation that is spearheading the industrial development of the country and empowering women especially under the Fifth Phase Government,” said Bussemaker.

She equally thanked the institution’s board of directors, management and the general staff supporting her leadership during the entire four years during which the bank became a force to reckon with in the industry.

“During my tenure I tried to come up with diverse ways to empower women right from the grassroots and into positions in the bank. I wish this is continued,” she said.

Appealing to their competitors in the business, the outgoing CEO said during her tenure the bank managed to launch their first MasterCard in 2015 which is part of the implementation of their 2020 strategy which focuses on innovation and technology.

“We should stay focused in the banking industry so that we utilise the new technologies and digital innovation to reach all Tanzanians,” the outgoing NMB chief added.

During the her four year reign, Bussemaker presided over the bank’s listing at Dar es Salaam Stock Exchange while maintaining pole position as the industry’s most profitable bank raking in over 90bn/- net profit last year.

With a physical branch network of 228 countrywide, over 800 ATMs and over 6,000 NMB Wakala agents, NBM is by far the largest bank with presence in all districts of the country.

One of the bank’s board members, Professor Margaret Ikongo hailed Bussemaker’s tenure as outstanding with diverse monetary skills, which made them stay at the helm of the banking industry in the market.

“You successfully led the bank with sustained growth and profitability during the entire four years,” Prof Ikongo said.

Ikongo’s observations were backed by Citibank CEO, Joseph Keraso who appealed to NMB management to continue respecting gender balance in the hierarchy as advocated by Bussemaker during her tenure.

“She respected technology and yearned for more women being onboard and that made the bank its spread wings countrywide and her work should be emulated,” Koraso noted.

He said under Bussemaker, NMB has a strong financial record, based on years of strong and stable performance with its listing at DSE. NMB’s largest shareholders are its strategic partners Rabobank with a 34.9 percent share and Treasury with a 31.9 percent.