TAFINA-NBC pact advances inclusive digital finance

DAR ES SALAAM: The National Bank of Commerce (NBC) recently hosted a pivotal seminar designed for stakeholders of the Tanzania Fintech Association (TAFINA) aimed at enhancing the capacity of financial technology developers to create services that genuinely meet the diverse needs of communities and financial institutions.

including NBC itself, the seminar focused on equipping participants with effective and accessible market outreach strategies, enabling them to tap into loan facilitation opportunities that promote inclusive economic growth through simplified, technology-driven financial services.

Held over the weekend in Dar es Salaam, the one-day event brought together TAFINA representatives and financial technology officials from NBC, marking a significant step forward in the ongoing partnership established through a cooperation agreement signed earlier this April.

Addressing the participants, NBC’s Head of Transaction Banking Mr Mangire Kibanda, noted that the bank’s dedication to harnessing technology in the delivery of financial services.

He said, “Today’s seminar illustrates our commitment to implementing the collaboration agreement we reached with TAFINA just a few months ago. By empowering stakeholders with the expertise of our experts, we aim to illuminate our banking services, assess their quality, and identify areas for improvement. This initiative positions professionals to craft services that address the needs not just of NBC but also of other institutions seeking innovative financial solutions.”

In addition to discussing collective efforts to develop specialized offerings, such as digital payment gateways, digital loans, and embedded finance solutions, the seminar explored ways to financially empower stakeholders through favorable loan options.

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“By bolstering innovation, we can help these stakeholders create high-quality products that drive financial inclusion across Tanzania, ensuring that financial services are accessible, affordable, and efficient for all,” Mr Kibanda added.

On her part, TAFINA Relations Manager Ms Julieth Kiluwa, said that the seminar provided invaluable insights into the bank’s array of services, significantly enhancing participants’ ability to design offerings that streamline and improve financial access for clients.

“We are incredibly appreciative of having a strong partner like NBC, which consistently supports our mission to simplify the provision of financial services through technological innovation. Beyond this training, we anticipate that NBC’s preferential loan offerings will catalyze the growth of numerous innovative companies, paving the way for stronger collaboration and alignment with our goal of transforming financial services delivery,” she pointed out.

This seminar underscored NBC’s commitment to fostering an inclusive financial ecosystem that empowers both individuals and businesses through technology-driven solutions.