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National Microfinance Bank Plc. (“NMB”) assigned a first-time credit rating by Moody’s Investors Services on 20 January 2017.

NMB is pleased to announce that it has been assigned a first-time credit rating by Moody’s Investors Services of B1 Stable, b1. This places NMB the highest among its peers in the region as well as a number of other African banks (excluding South Africa). 

 The credit rating process took into account the bank’s operating environment i.e. the macro environment as well the bank’s business operations.


Attaining the rating is in line with the bank’s goal to position itself as a leading financial institution in the country.The ratings further confirm NMB’s solid capitalization and good governance.The bank’s Board of Directors and Management Team are pleased with the rating and believe that the rating will enable the bank to negotiate more favourable terms with credit providers and instil further confidence with the bank’s counter parties.


Credit ratings provide individual and institutional investors with information that assists them in determining the creditworthiness of issuers of debt obligations and fixed-income securities.  Credit rating agencies provide investors with objective analyses and independent assessments of companies and countries that issue such securities. NMB becomes the second local bank to obtain a credit rating from an international rating agency.


Please visit for more details on the assigned ratings.


20 Mar, 2017


The National Microfinance Bank PLC (NMB) has today launched the first ever money transfer service that will see customers registered with NMB mobile transfer money from their NMB account to other banks at the comfort of their finger prints.


To transfer up to TZS 3,000,000/- customers will need not walk into the banking halls any more; rather they can transfer through NMB mobile anywhere and provide the convenience that a customer needs.

Launching the money transfer service into the market, the NMB’s Value Added Service Manager, Stephen Adili, said the mobile Interbank Settlement System adds more options to NMB customers while maintaining the convenience and comfort of customers.

Previously, customers could transfer money from their NMB accounts to other banks by either physically visiting branches or through internet banking. In both cases the process took up to two hours for the transaction to mature.

 “The new mobile system of transaction is timely as recipient gets money instantly.” said Stephen Adili the NMB Acting Senior Manager Retail Liability, Insurance and Value Added Services.
Mr Adili added that “Being the first bank in the market, we expect a positive reaction from our customers who will no longer incur some transport and time expenses on transferring money from their NMB accounts to other banks accounts.”

10 Mar, 2017

On Saturday March 4, 2017, His Excellency the President of the United Republic of Tanzania, Dr. John Pombe Magufuli, officially opened the NMB Mtwara Business Centre especially for the business community in the cashew regions of Lindi and Mtwara.


Currently, there are nine NMB Business Centres; in Dar es Salaam (Kariakoo and Sinza), Dodoma (Makole), Morogoro, Kilimanjaro (Moshi), Arusha, Mwanza (Business Centre), Mbeya (Mwanjelwa) and we are soon launching the Kahama Business Centre.


The pictures take you through what happened at the opening ceremony.


NMB staff in a group photo with His Excellency President John Pombe Magufuli after the launch of the NMB Mtwara Business Centre.


H.E. President John Magufuli shakes hands with the NMB Managing Director – Ineke Bussemaker as he arrives at the NMB Mtwara Business Centre for the official opening. Looking on is the NMB Board Chairman - Prof. Joseph Semboja and the Minister of Finance and Planning - Hon. Dr. Philip Mpango.


President of the United Republic of Tanzania, His Excellency Dr. John Pombe Magufuli, and NMB Managing Director - Ineke Bussemaker cut a ribbon to mark the official opening of the only Business Centre in Southern Zone, the NMB Mtwara Business Centre. From the right is the Acting Chief Retail Banking – Abdulmajid Nsekela and NMB Chairman of the Board – Prof. Joseph Semboja while on the left is the Mtwara Regional Commissioner – Hon. Halima Dendego and the Minister of Finance – Hon. Dr. Philip Mpango.


President of the United Republic of Tanzania, His Excellence Dr. John Pombe Magufuli, congratulating the NMB Managing Director – Ineke Bussemaker moments after the officially opening of the NMB Mtwara Business Centre in Mtwara town. On the right is the Minister of Finance and Planning - Hon Dr. Philip Mpango and on the left, is the Mtwara Regional Commissioner - Halima Dendego.


His Excellency, President Dr. John Pombe Magufuli congratulating the Chairman of the NMB Board – Prof Joseph Semboja after the officially opening of the NMB Mtwara Business Centre in Mtwara.


NMB staff at the opening ceremony of the NMB Mtwara Business Centre.


President Magufuli delivering a key note speech at the launch of the NMB Mtwara Business Centre in Mtwara.



10 Mar, 2017


Dar es Salaam, Tanzania: 09 March, 2017 – National Microfinance Bank Pic (NMB) has signed a strategic partnership agreement with Mastercard to ensure the digitization of the agricultural sector in Tanzania with the rollout of eKilimo, a mobile solution developed by the Mastercard Lab for Financial Inclusion.

eKilimo, which in Swahili means ‘eAgriculture’, is a digital platform that will help, introduce efficiency, security and transparency in the agriculture supply chain. The solution will make transacting faster, safer, and easier for all stakeholders including the farmer, the buyer and the agent.

Powered by the digital platform developed by the Mastercard Lab, farmers are now able to conduct the entire transaction process of receiving payments and selling produce via a feature or smartphone, without having to walk hours to markets. This helps to ensure farmers benefit from the ability to capture a higher percentage of the wholesale value of their goods by providing price transparency and more direct access to buyers.

“Contributing a significant USD 13.9bn to Tanzania’s GDP (nearly 30 percent), it is critical that solutions are found to support this vital sector, ensuring sustainability and growth. Technology is having a significant impact already, and the mobile device is giving small holder farmers the power and ability to move beyond cash,” said Raghu Malhotra, President, Middle East and Africa, Mastercard.

By providing digital payment to farmers, eKilimo will leverage the existing agency banking structure to facilitate account opening for farmers and joint ideation on new product features. This is in line with the Mastercard vision of a more digitally and financially included Africa.

“Using digital technology to provide access to farmers and introducing transparency to the buying and selling process will drive efficiencies into this supply chain, positively impacting the economy. In the long run this should help famers gain access to formal financial services and solutions, enabling them to manage their funds ensuring a better more secure future for them and their families.”

The solution which was developed at the Mastercard Lab for Financial Inclusion is part of a global commitment made by company to reach 500 million people currently excluded from the financial mainstream by 2020. The East African Lab, supported by the Bill and Melinda Gates Foundation, is set to empower 100 million people through its focused approach of developing market and sector relevant solutions underpinned by meaningful insights and local collaboration.

The partnership between NMB and Mastercard will see the solution enter a pilot phase in select locations in Tanzania from March 2017. Following the introduction of the same solution in Kenya under the name of 2KUZE, key insights were gathered and will be used to ensure the Tanzanian pilot is a success. This cross pollination of knowledge driven by the Mastercard Lab ensures future rollouts are done so efficiently.

The pilot will begin with the onboarding of NMB customers that source directly from smallholders.  Field agents of the customers will use the eKilimo smartphone app to perform the purchase, including weighing the produce on a Bluetooth-enabled scale and paying the farmer digitally. The farmer will receive information and their payment from eKilimo, and will be able to leverage their transaction history to access credit from NMB. 

 “We are committed to growing Tanzania’s agriculture sector, and working with partners such as Mastercard to introduce technology that can change lives. Our experience in the sector gives us a unique point of view, combined with insights from Mastercard following the launch of the solution in Kenya under the name 2KUZE. It makes for a powerful collaboration, one that will benefit smallholder famers, buyers and agents – and the broader economy,” said the NMB Managing Director – Ineke Bussemaker. 

08 Mar, 2017

International Women's Day celebrates the social, economic, cultural and political achievement of women across the globe. This year, the theme is #BeBoldForChange! This is a call for all of us to take bold actions and make to make the world a more ‘gender inclusive’ place. International Women’s Day is a reminder for all of us- men and women to actively take part in closing the gender parity gap.


Gladness Deogratias- the Head of Forex Trading and Chairwoman of Women Arise- a platform that fosters gender equality, advancement, mentorship and leadership opportunities for women at NMB shares with us her perspective on breaking the gender glass ceilings in the workplace and growing females leaders at NMB.

Q: Tell us your name.

Gladness Deogratias 

Q: What is your role?

Head of Forex Trading and Chairwoman of NMB Women Arise forum

Q: What does gender parity mean to/for NMB?

For our bank, this means achieving a good balance of male and female in our workforce. It also means an inclusive culture that promotes diversity which is at the heart of innovation and will ultimately improve the performance of our organization. NMB believes this is not only a fair and right thing to do in the society, but also a business case for success.

Q: What can be done to challenge the barrier that prevents women from progressing?

There are a number of initiatives organizations can do to uplift these barriers including:

  • Having a targeted recruitment
  • Work and Leave policies that are flexible and gender sensitive
  • Mentorship program to allow women to gain skills and experiences
  • Specific female leadership training that will empower women
  • Having an inclusive culture in the workplace 

Q: What does it take to grow as a female leader at NMB?

NMB is no different to any other organization, so for any female leader looking to grow she must first understand that leadership is a journey and hence it’s a continuous learning process. She must embrace change and be willing to step outside her comfort zone to expand her horizon. Building relationships and collaborating with others across the organization through “Lean in” is a vital leadership trail. Some of these contacts will be your mentors (pick brains) or sponsor/support system. NMB is a very big bank with over 3000 staff; having solid network is an important benefactor in your journey; you never know who will be on your path to leadership. Above all, work hard, they say “hard work never goes unnoticed”.

Q: How should/do men take part in promoting gender parity at the work place (or in our communities)?

Men are key players in closing the gender gap. There is what we call “unconscious bias” that exists so including them will help to bring this in the open. Increase their responsibility and input in gender mainstreaming strategy to allow for ownership and execution. After all, around the world men dominate decision making positions hence ensuring outcomes are gender inclusive. Men can also be positive role models through mentorship program.

Q: How important is it that NMB and other corporations for that matter take bold actions in closing the gender parity gap?

It is extremely important that NMB and organizations alike take pragmatic actions towards promoting gender equality in their work place. Women in the work force are key drivers of economic progress of our countries; thus we cannot exclude this important labor force. Corporations should also consider gender inclusive leadership to promote diverse of ideas in their management teams. This will ultimately mean, products and services offered by these organizations will be gender sensitive hence help women and girls achieve their ambitions.

We would like to hear from you, what bold actions to empower women have you taken lately? Will you step up and #BeBoldForChange ?




06 Mar, 2017

Suzan Shuma is the Head of Government Banking at NMB. She is responsible for maintaining a close relationship with the government and its key decision makers by meeting their financial needs with the aim of growing the government’s business portfolio within the bank.


Suzan’s NMB journey begun in 2008 as a Product Manager where she spent 7 years engaging with different projects in Retail Banking.  One of her proudest moments in Retail Banking is when she successfully designed, tested and implemented secure loans for salaried employees which later resulted in a move to become Product Manager Secured Loan. Due to the dedication and ownership she showed during the two years of working for the new secured loan products, Suzan was thereafter promoted to Senior Manager Retail Assets in 2013 working on a much bigger portfolio of retail assets- both secured and unsecured loans. In 2015, Susan took a daring and calculative risk by moving to Government Banking, a unit under Wholesale Banking as Senior Manager: Central Government.


The bold move from retail banking to wholesale banking was an opportunity for her to not only grow and expand her knowledge but also it was a desire for growth as she was very keen to explore a new opportunity outside of her comfort zone. Suzan stresses the importance of women stepping up to make bold decisions in order to reach up to our goals. “Plan for change even when it is not comfortable for you because there are times  when you need to be uncomfortable to accommodate growth,” she said. For Suzan, bold actions also mean guiding other women through mentorship so that they too can progress boldly in their careers.

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