NMB's payment systems  deliver 8.6trn/- revenue

22Jun 2022
The Guardian Reporter
The Guardian
NMB's payment systems  deliver 8.6trn/- revenue

NMB Bank payment systems facilitated the collection of 8.6trn/- in revenue through the government e-payment gateway (GePG) for three consecutive years, from 2019 to 2021.

NMB Bank Plc CEO Ruth Zaipuna (R) presents a copy of bank’s 2020/2021 annual report to Dar es Salaam regional commissioner Amos Makalla at a stakeholders meeting held yesterday. Photo: Guardian Correspondent

Ruth Zaipuna, the bank’s CEO made this affirmation at a workshop for the Dar es Salaam regional administration, attended by regional commissioner Amos Makala, district commissioners, councilors, ward executives and other officials.

Investing in technology has enhanced proximity of financial services to the public, noting that the bank supports financial inclusion through products tailored to customers’ needs.

“Innovation helped us make big strides,” she stated, outlining heavy technology and innovation investments, enabling NMB to take up the state e-payment format, with a total of 1,100 institutions integrating their systems into the NMB revenue collection facility.

 Revenue collection by the e-payment channel rose tremendously from 2.1trn/- in 2019 to 3.7trn/- last year, she stated, underlining that these funds were collected using a range of financial products where a client uses own phone, pays at NMB agents, or pay number, internet transfer, etc. 

“We will continue to invest to ensure that our network is in good working order and to ensure payment security,” the CEO declared, pointing at contributions towards sustainable community development across the country.

Launching the NMB Foundation was part of commitment to support sustainable development, she said, explaining that one percent of NMB profit after tax will be directed to support initiatives in education, health, agriculture, environment, empowerment and emergencies.

“Through the NMB Foundation we continue to receive applications for student scholarships announced a few weeks back,” she said, promising to work with various development partners and the government to attain sustainable development objectives.

RC Makala hailed NMB Bank for backing government efforts and development initiatives, its good financial performance resonating on the business environment being created by the sixth phase government led by President Samia Suluhu Hassan.

Its point of emphasis is to improve the business environment and attract more investors into the country, he said, citing NMB Bank as a partner where the government has a stake.

Just a few days back the bank paid dividends to the government, enhancing service delivery capacity. “We will continue to work with NMB Bank to improve provision of social services,” he said.

The bank needs to continue investing in research to come up with various products benefiting people right from the grassroots level, while the government is committed to support financial inclusion, he added.

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