APPOINTMENT OF NBC'S NEW BOARD CHAIRMAN

Mr. Nehemiah Kyando Mchechu

Dar es Salaam, 3rd February 2016 - The National Bank of Commerce (NBC Limited) Board of Directors is delighted to announce the appointment of Mr. Nehemiah Kyando Mchechu as its Board Chairman.

Mr. Mchechu succeeds Prof. Mussa Assad who was appointed as the Controller and Auditor General. Mr. Mchechu brings a wealth of experience possessing extensive banking, commercial, executive management and board level experience having held previous leadership capacities in Standard Chartered Bank Tanzania, Commercial Bank of Africa and National Housing Corporation where he now serves as the Director General.

His contributed board and executive experience will oversee and steer the NBC brand to greater heights in its 2016 - 2020 strategic ambition. He currently chairs several recognizable boards across Tanzania; Serengeti Breweries Limited (SBL), NHC/PPF Investments Company and Amboni Sisal Properties Limited (ASPL). He also serves as a Director member of the following Boards; DAWASCO, Watumishi Housing Company Limited (WHC), Tumaini University - Dar College (TURDACO), Tanzania Investment Centre (TIC), Tanzania Employers Association (TEA), Tanzania Mortgage Refinance Company Limited (TMRC) and East African Breweries Limited (EABL).

The NBC Board welcomes Mr. Mchechu and thanks the interim Chair, Dr. Kassim Hussein for his excellent leadership during the year. Dr. Kassim Hussein remains to Chair the NBC Lending Committee and is a member of NBC's Risk and Compliance Committee.