NBC Bank has been awarded the prestigious "Best Sub-Sovereign Syndicated Loan in Africa 2023" at the EMEA Finance Banking Awards.

The accolade recognises the bank's role as the Mandated Lead Arranger in a $200 million credit facility for the Zanzibar government with NMB Bank serving as the Co-Lender.

The strategic financing was aimed at enhancing social services and developing critical infrastructure in Zanzibar, ultimately improving the quality of life for its residents and fostering sustainable growth in the region. This award underscores NBC Bank's commitment to empowerment and sustainability, exemplifying the lender's dedication to enriching the communities it serves.

Theobald Sabi, Bank’s managing director expressed deep gratitude to the Zanzibar government, the bank's customers, and fellow lenders for their trust and collaboration. 

According to Sabi, the award serves as recognition not only of the bank's expertise in financial transactions but also of its role in driving positive change and progress within the community.

He said: "This award is a testament to our expertise in facilitating significant financial transactions, as well as the confidence our stakeholders have placed in us. It propels us to further customize our offerings to encourage sustainable living and respond proactively to the needs of our communities, with the goal of building a brighter tomorrow – one story at a time." 

The EMEA Finance African Banking Awards are highly respected, acknowledging outstanding achievements in the financial sector and showcasing innovation and excellence in capital markets across Africa. NBC Bank's success in this prestigious award reflects its longstanding commitment to customer satisfaction and community development.

"With over fifty years of experience, NBC Bank continues to be a trusted pillar in Tanzania's banking sector, offering a wide range of financial products and services to meet the diverse needs of its customers. This achievement  at the EMEA Finance Banking Awards is a testament to NBC’s dedication to building a brighter future for all," Sabi added.