Tanzanian bank nominated in prestigious African Banker Awards for 2020

13Jul 2020
By Guardian Reporter
Dar es Salaam
The Guardian
Tanzanian bank nominated in prestigious African Banker Awards for 2020

​​​​​​​NBC Tanzania bank has been nominated in the prestigious African Banker awards 2020 which celebrates excellence in banking and finance sector in the continent.

Elvis Ndunguru.

With over 200 banks from across the continent competing for the awards, NBC bank has made it to the top five list of nominees in the category of SME Bank of the year, a big milestone for the local bank this year.

NBC Tanzania is the only contester from Tanzania in this year’s awards competing with Bank of Industry, Sterling Bank both from Nigeria, Bank of Misr (Egypt) and Ecobank in the category. The category attests for the excellence in supporting and transforming SMEs in the continent.

“We are truly excited to be nominated in these reputable awards in Africa. We want to extend our gratitude to customers and stakeholders for their continuous trust, cooperation, feedback and involvement towards improving our SME business in our country,” marked the bank’s Director of Business Banking, Elvis Ndunguru.

He said the Bank has positioned itself as a One shop for all the SME banking needs leveraging on improved products and tailored solutions that suits local business environment aiming at fostering growth and development of the sector in Tanzania.

In ensuring that, the bank has developed a business club dubbed ‘NBC-Club’ that networks SMEs and give them access to business trips, free business consultation and preferential freebies in some of the services, an initiative that ensure seamless transition of the sector, according to Ndunguru.

Studies shows that, SMEs sector contributes to 35% of the GDP employing more than 5.2 people in the country. The sector has been facing challenges like limited access to finance and ineffective use of financial services that is why NBC bank has been investing heavily to improve the business environment by offering reliable and affordable solutions.

“Other factors are such as strong customer relationship management, quick loan decision making, reliable digital footprint whereby customers are able to do their transactions at their convenience through internet banking, mobile banking and through Wakalas,’’ he added.

The African Banker Award 2020 ceremony will take place virtually on the 26th August during the African Bank Annual Meetings under the High Patronage of the African Development Bank.

The African Banker Awards bring together industry leaders from Africa and the world to celebrate the achievements of those who are driving growth and development and creating new economic opportunities for citizens and communities all over the continent and inspire new generations of bankers who are shaping Africa’s future.