NCBA BANK PLANS TO EXPAND INTO KEY ECONOMIC SECTORS DRIVEN BY DIGITAL INNOVATION

Commissioner for Financial Sector Development in the Ministry of Finance and Planning - Dr. Charles Mwamwaja (left), greets Claver Serumaga (center) - newly appointed Chief Executive Officer (CEO) and Managing Director (MD) for NCBA Bank Tanzania as John Gachora - Group Managing Director looks on in admiration.

Newly appointed CEO and MD for NCBA Bank Tanzania - Claver Serumaga (left) in a conversaton with the Commissioner for Financial Sector Development in the Ministry of Finance and Planning - Dr. Charles Mwamwaja.

Dar es Salaam: NCBA Bank Tanzania, a leading financial institution, has announced its plans for expansion into key economic sectors, including FMCG, transportation, energy, and manufacturing. Speaking at a dinner organized for their customers recently, the Group Managing Director, John Gachora said, “We have realized that Tanzania’s growth is tied to the growth of these key economic sectors and we want to be part of that growth.” He also reiterated that NCBA Bank is well-positioned to facilitate the growth of businesses across borders with its regional presence in Kenya, Uganda, Rwanda and the Ivory Coast.

Despite challenges posed by the Covid-19 pandemic, NCBA Bank Tanzania has continued to thrive, thanks to the launch of the NCBA brand in multiple markets and the expansion of its digital products, including M-Pawa, which has served nearly 7 million customers. The bank is dedicated to providing financial services to the unbanked population, and its efforts have been recognized with the best digital bank award in the country.

NCBA Bank Tanzania is committed to serving its customers and going greater together. The bank recently received an additional 40B in capital injection from group shareholders, providing the necessary resources to see through its strategic growth plan.

Dr. Charles Mwamwaja, the Commissioner for Financial Sector Development at the Ministry of Finance and Planning, was the guest of honor at the event and supported NCBA Bank Tanzania's vision for the future. At the same time, the bank also welcomed its new Managing Director and CEO, Claver Serumaga to lead the way into the future.

NCBA Bank Tanzania's plans for expansion into key economic sectors and continued digital innovation demonstrate the bank's commitment to meeting the evolving needs of its customers and driving economic growth in Tanzania and beyond.