New card strengthens transparency in business transactions

DAR ES SALAAM: The National Bank of Commerce (NBC), in partnership with Visa Inc., has launched the NBC Twiga Platinum Business Debit Visa Card, the first premium business debit card in Tanzania, targeting improved financial discipline across enterprises.

The product is designed to help businesses separate personal and corporate spending, a persistent challenge that weakens financial management and limits growth. By formalising expenditure tracking, NBC aims to strengthen accountability and internal controls for both large firms and small and medium-sized enterprises (SMEs).

Launched over the weekend in Dar es Salaam, the initiative brings together NBC and Visa in a strategic push to expand digital financial solutions as Tanzanian businesses scale and increasingly engage in cross-border trade. The card leverages Visa’s global payment network, enabling secure and seamless transactions worldwide.

NBC Managing Director Theobald Sabi said the product addresses structural inefficiencies in business finance. Many enterprises continue to mix personal and business funds, undermining transparency and control. As operations grow more complex, disciplined financial systems become essential.

He added: “This is not just a card launch; it is a solution designed to give businesses full control over their finances. As businesses grow and transactions become more frequent and complex, the need for transparency, discipline, and accountability becomes even more critical.”

The card links directly to a company’s bank account, providing real-time access to funds and simplifying payments, record-keeping, and auditing. It is expected to reduce financial leakages and improve oversight, particularly among SMEs that often lack robust financial systems.

Visa’s Vice President and General Manager for East Africa, Chad Pollock, said the partnership reflects a broader effort to accelerate digital payments and support enterprise growth. He emphasized that secure, traceable transactions are increasingly central to modern business operations.

“We are pleased to partner with NBC in delivering a solution that empowers businesses with greater control over their finances while benefiting from Visa’s extensive global network,” he said, stressing that secure and traceable transactions are a cornerstone of modern business operations.

Beyond core payment functionality, the card includes security features and multiple payment options to reduce reliance on cash. It also offers additional benefits such as insurance coverage, liability waivers, medical and legal referral services, airport access, and discounts on travel, accommodation, and business services.

Further elaborating on the card’s benefits, NBC Cards Business Manager Esnat Hollela said the card is directly linked to a company’s account, allowing real-time access to funds and simplifying payment management, financial reporting, and auditing processes.

“In addition, the card is globally accepted through the Visa network, with high-level security features and multiple payment options, enhancing business efficiency while reducing reliance on cash transactions,” she said.

She added that beyond financial functionality, cardholders will also enjoy social and lifestyle benefits, including insurance coverage, card liability waivers, medical and legal referral support, airport services, and exclusive discounts across various services such as travel, accommodation, shopping, office space, digital media buying, data, and more—making it a comprehensive solution that supports both business operations and everyday needs.

Financial analysts say the move has strong potential to improve financial discipline and enhance transparency in business operations, particularly among SMEs.

Engineer Henry Kulaya, an NBC customer experienced in digital banking, said the card could significantly improve financial management. Effective growth, he noted, depends on strong financial systems that ensure every transaction is tracked and controlled.

The launch signals NBC’s continued focus on innovation in financial services, positioning the bank to support businesses seeking greater efficiency, transparency, and confidence in an increasingly competitive environment.

“A business cannot grow effectively without strong financial systems. This card will greatly help ensure that every transaction is properly tracked and controlled,” he said.