CREDITINFO AND NMB PARTNER TO PROMOTE RESPONSIBLE LENDING AND IMPROVE FINANCIAL INCLUSION

Dar es Salaam Thursday 7th May 2015

JOINT PRESS RELEASE

Creditinfo Tanzania (CIT) and NMB have announced concluding a strategic partnership. This landmark partnership aims to support NMB to make better and informed credit decisions, champion responsible lending, promote financial inclusion and facilitate economic growth. The partnership will be a first of its kind in Tanzania and will mean the automated integration of NMB’s credit scoring and Creditinfo credit bureau systems.

Davith Kahwa, CEO, Creditinfo Tanzania, (pictured on the left) commented “Creditinfo Tanzania is in the business of improving access to credit and promote responsible lending. We want to help our customers to grow and improve their loan portfolios, by identifying the right applicants. We are delighted that NMB has selected to work with us for this purpose. Borrowers will be able to access enhanced credit facilities as they grow their credit histories and track record. Conversely lenders will be able to develop new and competitive products that will tap into previously unserved and underserved market niches with the power of available information. This can only impact positively on the banking sector and the Tanzanian economy as a whole“ he added

“NMB is pleased to welcome Creditinfo as a new strategic partner. We highly value this collaboration, which will reinforce NMB’s commitment to remove barriers and enhance access to financial services, with an affordable and efficient service to the Tanzanian community. We believe access to credit would be a catalyst for economic growth and development of the middle class in any economy and the credit bureau would enable SME a fair cost of credit, said Tom Borghols, Acting Managing Director and Chief Risk Officer, NMB (pictured on the right)

About NMB Plc

National Microfinance Bank (NMB) is the leading full service commercial bank in Tanzania providing banking services to a customer base which is a reflective of Tanzania as a whole, and includes Government and state-owned institutions, large corporates and institutions, micro, small and medium enterprises (MSME), civil servants and salaried employees, farmers and cooperatives, and reaching out to traders and the unbanked.

NMB was established under the National Microfinance Bank Limited Incorporation Act of 1997, and it takes pride in some 170 branches (of which 60% are in rural areas), over 2 million customers and 600 ATMs (almost 40% of all ATM’s in Tanzania).

Technologically, NMB has pioneered major innovations in the market among them Mobile Banking and Pesa Fasta – an ATM based remittance product targeted at the unbanked. NMB is also making inroads in corporate banking, treasury, and transactional services such as corporate payments, collections and trade finance. NMB plays an important role in the agricultural value chain and pioneered warehouse receipt financing for the country’s Saccos and Amcos.

In the Corporate Social Responsibility (CSR) arena, NMB places great importance on supporting communities in Tanzania in making a positive contribution to the society. This includes social and economic development, focusing broadly on Financial Literacy, Education Sector and Health Sector Support.

About Creditinfo

Creditinfo Tanzania Limited is the first licensed credit reference bureau in Tanzania, it form part of Creditinfo Group. Creditinfo is a leading service provider for credit information and risk management solutions worldwide. It has developed, through its multiple subsidiaries in more than 20 countries, numerous innovative products and services from official and customer information sources to facilitate best practices in credit risk management. Creditinfo has been shortlisted and awarded in several tenders supported by World Bank, IFC, Millennium Challenge Corporation and other international organizations. Creditinfo has headquarters in Reykjavik, Iceland, and it employs around 280 people worldwide.

For further information please contact:

Creditinfo Tanzania

Davith Kahwa, CEO

tel. +255 22 212 7263
email:d.kahwa@creditinfo.com
www.creditinfo.co.tz

NMB Senior Manager Corporate Affairs & PR

tel: +255 22 2161146
email: joseline.kamuhanda@nmbtz.com
www.nmbtz.com