DAR ES SALAAM: The National Bank of Commerce (NBC) has officially entered into a partnership with the Tanzania Fintech Association (TAFINA) to further its commitment to leveraging technology in the delivery of financial services and to promote inclusive economic growth through technology-driven financial solutions.
The signing ceremony, held earlier today in Dar es Salaam, featured key representatives from both organizations. Mr Elvis Ndunguru, NBC’s Director of Business, and Ms Cynthia Ponera, Chairperson of TAFINA, represented their respective institutions in this historic agreement, marking the first collaboration of its kind between TAFINA and a financial entity in Tanzania.
In discussing the partnership’s specifics, Mr Ndunguru highlighted that the agreement fosters collaboration between NBC and tech-driven financial service providers across the nation.
He emphasized that this initiative will play a crucial role in advancing digital payment systems, enhancing financial inclusion, and strengthening compliance among relevant firms.
“Through this partnership, NBC will take on the role of a mentor for companies engaged in innovative financial service solutions.
Our support will encompass offering tailored financial solutions, such as friendly loans, as well as facilitating discussions, policy engagements, and significant fintech events organized by TAFINA,” he mentioned.
Mr. Ndunguru further affirmed the bank’s intention to lead in the domains of digital banking and financial innovation, aspiring towards a substantial transformation in the landscape of financial service delivery.
“Through this collaboration, NBC and TAFINA will jointly develop and introduce specialized products, including digital payment gateways, digital loans, and embedded finance solutions.
This innovative approach will not only bolster fintech companies but will also enhance financial inclusion for Tanzanians by making financial services more accessible, affordable, and efficient,” he added.
TAFINA’s Secretary-General, Mr Shadrack Kamenya, and TAFINA’s Engagement Manager, Ms. Julieth Kiluwa, shared their appreciation for the partnership, noting that it stands to provide significant benefits to member companies through various preferential services from NBC.
ALSO READ: Go for innovative solutions, says NBC Director
This includes friendly loans aimed at fostering capital growth for member organizations, alongside the opportunity to leverage NBC as a mentor in their innovative pursuits.
“We are truly grateful for this partnership, as it connects our members with a powerful ally committed to facilitating their goals of simplifying financial service delivery through technology. Additionally, we believe that NBC’s preferential loan offerings will stimulate growth for many innovative companies while also establishing a supportive banking relationship that aligns with our initiatives to streamline financial services through technology,” they remarked.
