NMB Bank has pledged to come up with more tailor-made products to cater for the needs of Tanzanians in the diaspora.
NMB Bank Chief of Retail Banking Filbert Mponzi said on Tuesday during the launch of the Diaspora Digital Hub (DDH) initiated by the Ministry of Foreign Affairs and East African Co-operation that diaspora play a substantial role in the country’s development process.
“Last August, NMB signed a Memorandum of Understanding and offered 100m/- to support development of the Diaspora Digital Hub and we are happy to see that project is ready for launch,” he said.
DDH will act as a database for all Tanzanians in the diaspora.
He noted that as part of its commitment to offer unique banking services, the bank established a dedicated department to cater for the interests of the diaspora.
Earlier, Foreign Affairs and East African Cooperation Permanent Secretary Ambassador, James Bwana said the DDH will not only be useful in tracking all the necessary information for Tanzanians in the diaspora but will also be useful in linking them to various services back here in the country like banking and finance services, NIDA services .
“This hub will help Tanzanian’s in the diaspora to know the available investment opportunities back home,” Mr Bwana said.
The chairperson of Tanzania’s Parliamentary Committee on Foreign Affairs, Defence and Security, Vita Kawawa said the launch of the DDH was a step in the right direction.
The Minister for Foreign Affairs and East African Cooperation, Dr Stergomena Tax, said during the event that the contribution of the diaspora was increasing in recent years.
“Each embassy had its data base and this was a challenge in terms of service delivery. The ministry saw the need for establishing a unified hub,” Dr Tax said.
The diaspora remittance doubled to 1.1 billion US dollars last year from 569.3 million US dollars in 2021.