By Our Correspondent, Pemba
NMB Bank, has assured both small and large-scale investors of its robust financial standing, enabling them to participate in Zanzibar’s economic transformation and the broader Tanzanian economy. This commitment was highlighted during the Zanzibar Investment Forum, organized by the Zanzibar Investment Promotion Authority (ZIPA).
The bank’s financial stability is evidenced by its inclusion in the prestigious global billion Dollar club, its post-tax profit of TZS 643 billion, significant dividend contributions to the government amounting to TZS 214 billion, and several international accolades, including those from Euromoney and Global Business and Finance.
These points were outlined by Linda Teggisa, Head of NMB Transactional Banking, during her presentation at the forum, which gathered over 1,000 investors from Zanzibar, Mainland Tanzania, and across Africa and closed by the President of Zanzibar and Chairman of the Revolutionary Council, Hon. Dr. Hussein Ali Mwinyi.
In her address, Linda expressed NMB’s pride in continuing to support the Zanzibar government’s efforts to grow the Blue Economy, presenting investors with a range of superior solutions and services tailored for investment facilitation.
“We are leveraging this presentation to showcase the capabilities of our bank in providing solutions for individual clients, large corporations, and government institutions,” said Linda. “This includes facilitating the transfer of funds for transactions involving local and international trade.”
“With a capital strength of approximately USD 1.1 billion, NMB ranks as the largest bank in Tanzania and the second largest in East Africa. Our achievements are attributable to significant investments in technology, which has enabled 96% of our transactions to be conducted digitally.”
“We lead in providing financial solutions in the country and possess the strength and resources necessary to support investment and drive the strategic plans of the Zanzibar government, particularly in enhancing investment zones,” Linda added.
International entrepreneur and CEO of Cocco Lagoon, Grzegorz Adamczak, highlighted NMB’s reputation as an attractive bank even for international investors considering ventures in the region. “Their track record and international recognition have positioned them as a significant contributor to economic growth for entrepreneurs at all levels,” said Adamczak. “NMB stands out as the ideal bank for investors.”
Other speakers, including Safari Fungo from the International Trade Center and financial advisor Emilian Busara, commended NMB’s innovative initiatives. They underscored the bank’s sponsorship and participation in the forum as an opportunity for attendees to achieve their investment goals.
“As a keynote speaker at this investment forum, I can confidently endorse NMB for its excellent financial advisory services in Tanzania. Last year alone, NMB achieved a post-tax profit exceeding TZS 600 billion and recently paid one of the largest dividends,” noted Emilian.
“NMB has been awarded for being the Best Bank, the Largest Taxpayer, and the Most Timely Taxpayer, which is why, as a financial advisor, I urge participating investors and others to consider partnering with NMB to expedite the success of their investment projects,” Emilian concluded.
