Planning Ministry backs NMB-DSE digital platform

DAR ES SALAAM: THE government has endorsed the NMB Bank and Dar es Salaam Stock Exchange (DSE) new digital platform as more public entities gear up to list next year to enhance their transparency and accountability.

Minister of State in the President Office (Planning and Investment), Professor Kitila Mkumbo commended the new stock market platform adding that it will greatly improve efficiency at the bourse.

“This will be a catalyst for increased trade at the DSE. The biggest challenge is however to ensure mindset change and ensure that more Tanzania embrace stock market trading,” he said.

Prof Mkumbo hinted that plans are already underway to ensure that more government institutions list at the DSE starting next year, which will help improve transparency and accountability for these institutions.

Launched yesterday, the collaboration introduces a DSE stock market mini app, dubbed ‘Hisa Kiganjani’ integrated within the NMB mkononi App.

Listing government entities on the stock exchange not only enhances transparency and accountability but also improves operational efficiency and corporate governance.

Once listed, these entities are subject to strict regulatory oversight and reporting standards, which often lead to better financial discipline, strategic decision-making and improved management practices.

This transformation increases public trust and ensures that state-owned enterprises (SOEs) operate with the same rigour and responsibility as private sector firms.

Additionally, listing opens up new avenues for capital mobilisation without relying solely on public funds.

By selling shares to the public, the government can reduce its financial burden while enabling citizens to become shareholders and benefit from the growth of national assets. It also deepens the capital markets, boosts investor confidence and promotes broader economic participation and financial inclusion across the country.

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This initiative aims to reduce entry barriers for both seasoned and first-time investors by streamlining the trading experience and potentially increasing liquidity at the DSE.

The platform creates a unified digital environment where users can access real-time trading information and execute share transactions for all DSE-listed companies through a single click on the NMB Mkononi App.

It is designed to lower transaction costs and time typically associated with traditional brokerage services, offering a faster, more efficient route to market participation.

Speaking at the launch, NMB Bank CEO Ruth Zaipuna hailed the platform as a major milestone in the bank’s digital transformation journey.

She said the solution delivers a smarter, faster and more userfriendly experience for DSE investors.

The platform is the result of a successful integration between the NMB Mkononi App and the DSE Hisa Kiganjani App, made possible through close collaboration between the ICT teams of both institutions.

Ms Zaipuna emphasised that the new solution aligns with NMB’s financial inclusion strategy and will contribute significantly to boosting trading volumes at the DSE.

“This platform simplifies the process of buying and selling shares, provides real-time market data and offers robust security features highly valued by investors seeking a seamless and secure trading experience,” she said.

She also affirmed NMB’s continued commitment to promoting financial and stock market literacy to help more Tanzanians take advantage of opportunities in the capital markets.

“We will keep investing in technology to deliver seamless banking experiences for all our customers,” she added.

Dar es Salaam Stock Exchange (DSE) Chief Executive Officer, Mr Peter Nalitolela, noted during the event that the new stock market app will empower users to navigate the DSE more efficiently while offering a highly personalised trading experience.

“This app introduces a whole new way of trading at the bourse, making it easier for millions of Tanzanians to buy and sell stocks with just a single click on their smartphones no need to visit a stockbroker,” he said.

He further encouraged wider participation in the market: “You don’t need a lot of money to start investing. I urge all Tanzanians, especially the youth, to invest in stocks and enjoy future rewards.”