NBC Bank trains Tanzanian-South African businesses on forex
DAR ES SALAAM: The National Bank of Commerce (NBC) has conducted a specialized educational session for Tanzanian and South African businesses, focusing on the intricacies of foreign currency markets and the current economic outlook in Tanzania.
The initiative was designed to equip attendees with advanced knowledge and strategic insights, enabling them to make more informed and effective decisions regarding foreign currency acquisition and international investments.
The event took place during a meeting of the South African Business Forum (SABF), held in Dar es Salaam at the end of the week. Addressing the forum, the Head of Global Markets Sales at NBC, Ms. Juliana Mwapachu, delivered a comprehensive presentation on the state of the nation’s foreign exchange markets.
She emphasized that a deeper understanding of the markets is crucial for safeguarding businesses from significant financial losses, which often occur when currencies are purchased without due consideration of underlying economic factors.
“This session is a continuation of our efforts as a leading financial institution to serve the business community between these two nations,” said Ms. Mwapachu.
“We have consistently presented on various economic and business topics to foster greater awareness. Our goal is to empower business operators to manage their businesses in a manner that aligns with the frameworks of financial institutions and regulatory authorities, thereby proactively avoiding potential operational challenges.”
During her address, Ms. Mwapachu provided a detailed analysis of Tanzania’s economic performance in 2025 and projected key trends and expectations for the year 2026.
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“With a robust comprehension of foreign currency market dynamics,” she explained, “we believe business leaders will be optimally positioned to make prudent decisions on the most advantageous timing and methods for purchasing and exchanging foreign currencies. This knowledge is instrumental in mitigating losses caused by volatility in international currency valuations.”
She further added that NBC’s commitment extends beyond foreign exchange services. The bank is dedicated to providing ongoing support to the business community through specialized advisory services, particularly for those engaged in cross-border trade.
The meeting was attended by SABF members, representatives from various institutions, officials from the South African Embassy in Tanzania, and officers from NBC, which served as the event’s main sponsor.
Commenting on the value of the initiative, the Chairman of the South African Business Forum in Tanzania, Mr. Manish Thakrar, affirmed its significant benefit to importers who regularly deal in foreign currencies for procuring commercial goods from abroad.
“This education is immensely valuable to us as businesspeople, particularly at a time when the US Dollar has depreciated by nearly 200 Tanzanian Shillings,” said Mr. Thakrar. “Armed with this knowledge, businesses can now recognize that the current climate presents an optimal opportunity for importing and exporting goods—a move that will further stimulate trade and bolster our national economy.”
Additionally, Mr. Thakrar urged the government to continue its vigilant oversight and to implement firm strategies aimed at strengthening the stability of the Tanzanian Shilling against major foreign currencies, especially the US Dollar. He emphasized that such measures are essential for fostering sustained business prosperity and curbing inflationary price surges on imported.
