NMB digital payments raise 6tri/- to State

THE government has through the use of electronic systems managed to boost revenue by blocking ways dishonest traders adopted to cheat in tax payments as well as the under declaration of products in business.

Some of the digital solutions adopted by the government include the Electronic Fiscal Device Management System (EFDMS), Government e-Payment System Gateway System (GePGs), Tanzania Customs Integrated System (TANCIS) and Electronic Tax Stamps (ETS) management system.

In the course, the digital measures and other initiatives have helped the Tanzania Revenue Authority (TRA) to collect 1.54tri/- by July this year in comparison to 1.284tri/- collected in the corresponding period last year, estimated as 97.4 per cent increment.

It is through the huge investment made in electronic solutions that the government managed to collect 6tri/- through NMB bank digital channels.

NMB bank said it has requisite digital infrastructures that can support the government particularly the Local Government Authorities (LGAs) boost their fiscal operations.

The Bank’s Chief Executive Officer Ruth Zaipuna told President Samia Suluhu Hassan at the opening of the extraordinary congress to elect national leaders of the Association of

Local Government Authorities of Tanzania (ALAT) in Dodoma yesterday that within three years, the government managed to collect revenues worth 6tri/through their digital finance platforms.

“Through our huge investments in digital innovations and virtual service delivery platforms, NMB Bank is now a key stakeholder of the government in revenue collection,” she said, while addressing the gathering as the lead sponsor.

“During the three years ending June 2021 government revenue worth 6tri/- was collected through NMB Bank’s innovative digital systems, which we have invested in heavily to put in place,” CEO Zaipuna added noting that the lender was also a strategic partner of the government in undertaking flagship infrastructure mega projects.

Commending NMB Bank and other stakeholders for supporting organisation of the ALAT three-day gathering, President Samia said the new leaders of the decentralization lobby should see into it that its members go digital.

She challenged them to ensure all LGAs revenue collections and expenditures are done and recorded using new technologies for efficiency and good governance purposes.

“The new ALAT leaders should be champions of deployment and use of ICT in local governments operations for effective delivery of services and management of resources,” she said.

Ms Zaipuna told the head of state that LGAs have for many years now been a strategic business and development partner of the bank, adding that the lender is unrivalled when it comes to working closely with local governments.

She said NMB services are 100 per cent available at the district level since it is the only financial institution that has a branch in every district. According to her, most of the bank’s social investments are made in LGAs’ jurisdictions, where majority of the targeted beneficiaries live.

Ms Zaipuna said the one per cent of the post-tax profit NMB Bank has been setting aside for philanthropic courses for 10 years now has made life better for many Tanzanians.

The NMB leader told the over 500 participants of the ALAT meeting from 185 city, district and municipal councils that to date the bank’s corporate social responsibility (CSR) investment, which focus on education, health and natural disasters, have amounted to over 12 bn/-.

“Statistically, more than 1,300 schools countrywide have received over 85,000 desks with over 600 health centres getting medical equipment while more than 80,000 Tanzanians have been trained in financial literacy and over one million benefitting from our programmes meant to help the needy during disasters, including the Covid-19 pandemic,” read part of her speech.

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