NBC PROVIDES TRAINING TO TRADERS ON FOREIGN EXCHANGE MARKETS AT SOUTH AFRICAN BUSINESS FORUM

NBC Bank’s Head of Foreign Exchange Markets, Ms. Juliana Mwapachu (holding the microphone), delivers a special presentation on the state of the foreign exchange market in Tanzania during the South Africa Business Forum (SABF) held in Dar es Salaam recently. The session aimed to equip business leaders and traders with knowledge and efficiency to help them make informed decisions on foreign currency transactions and investments. NBC Bank was the main sponsor of the forum.

Dar es Salaam, September 22, 2025 – The National Bank of Commerce (NBC) has provided special training to business leaders and traders from Tanzania and South Africa on foreign exchange markets as well as the general economic outlook in Tanzania. The initiative aimed at equipping traders with knowledge and efficiency to help them make informed decisions regarding foreign currency purchases and investments.

Speaking during the South Africa Business Forum (SABF) in Tanzania held in Dar es Salaam recently, NBC’s Head of Foreign Exchange Markets, Ms. Juliana Mwapachu, who delivered a presentation on the state of the foreign exchange market in Tanzania, said a deeper understanding of forex markets will greatly help business leaders and traders avoid losses they often incur when transacting without considering various economic indicators.

“This is part of our ongoing efforts as a leading bank serving cross-border traders between Tanzania and South Africa. We continue to deliver different economic and business topics to build their awareness and support them in running their businesses in a way that is more aligned with financial institutions and regulatory bodies, so they don’t face challenges that could disrupt their operations,” she said.

In her presentation, Ms. Mwapachu elaborated on Tanzania’s 2025 economic performance and projections for 2026. She emphasized that with sufficient understanding of foreign exchange dynamics, traders will be better positioned to decide the right timing and methods for buying and exchanging currencies at favorable rates, minimizing losses from exchange rate fluctuations.

She further added that, beyond foreign exchange services, NBC is committed to supporting cross-border traders with professional advisory services, particularly when doing business outside Tanzania, including South Africa.

On his part, SABF Chairman, Mr. Manish Thakrar, underscored the importance of the training, saying it will greatly benefit traders who often deal with foreign currencies when importing goods.

“This knowledge is extremely valuable, especially at a time when the value of the US dollar has dropped by nearly TSh200. Traders can now understand that this is the right time to import or export goods, a move that will further stimulate business and strengthen our economy,” he said.

Mr. Thakrar also urged the government to continue strengthening policies that safeguard the stability of the Tanzanian shilling against foreign currencies, particularly the US dollar, as this will support business growth and help curb rising costs of imported goods.

The conference brought together SABF members, representatives from various institutions, officials from the South African Embassy in Tanzania, as well as NBC executives, with NBC serving as the main sponsor of the event.

The Chairman of the South Africa Business Forum in Tanzania, Mr. Manish Thakrar (holding a microphone), addressing members of the forum during a meeting held in Dar es Salaam recently.