DAR ES SALAAM: NMB Bank has enhanced its WorldWide Pesa remittance service, aiming to simplify and streamline international money transfers.
The upgraded service, initially designed for Tanzanians in the diaspora, now facilitates outbound global payments through the NMB Mkononi platform.
Speaking in Dar es Salaam, NMB’s Chief of Wholesale Banking, Alfred Shao, announced that customers can now send funds directly from their NMB accounts via smartphones.
The service will initially be available in 22 countries across the East African Community (EAC) and Southern African Development Community (SADC) regions.
Mr Shao emphasised that this upgrade aligns with the government’s goal of increasing diaspora remittances to 1.5 billion US dollars (approximately 3.75tri/-) by 2028.
“With solutions like the upgraded WorldWide Pesa, NMB is well-positioned to support the government’s efforts in boosting remittances and investments from Tanzanians abroad,” he said.
He further explained that the service is backed by partnerships with leading global and regional money transfer providers, including Mastercard, Thunes, TerraPay and Nala.
ALSO READ: NMB unveils new digital payment option for businesses
This collaboration, enabled by NMB’s investments in digital infrastructure and ICT expertise, ensures secure and costeffective international transactions.
Mr Shao highlighted the elimination of delays and paperwork, describing WorldWide Pesa as a transformative solution for international remittances.
“This service simplifies global money transfers, contributing to financial inclusion and national development,” he noted.
At the launch event, the Director of International Trade and Economic Diplomacy at the Ministry of Foreign Affairs, Ambassador John Ulanga, praised the initiative for advancing Tanzania’s economic diplomacy policy.
He noted that the service promotes financial and business integration, particularly in SADC countries, where Tanzania holds competitive advantages.
“This is a highly innovative development that aligns with our economic diplomacy policy, enhancing international economic cooperation,” said Ulanga, expressing pride in NMB’s growth and its role in fostering national progress.
Thunes East Africa’s Key Account Manager, Jack Ngari, noted that Tanzania’s rapid economic growth makes the partnership with NMB strategic for fostering innovation and development.
Similarly, Head of TerraPay Tanzania, Doreen Ngallo, highlighted the success of their five-year partnership with NMB in facilitating international transactions.
