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| NMB Bank Chief Technology and Digital Transformation Officer, Kwame Makundi (seated left) and United Nations Capital Development Fund (UNCDF) Executive Secretary, Pradeep Kurukulasuriya sign a Memorandum of Understanding in Dar es Salaam to advance the third phase of the PesaTech programme, aimed at strengthening Tanzania’s fintech and start-up ecosystem. Looking on is Paola Trevisani (centre), Head of Infrastructure and Regional Cooperation at the European Union Delegation to Tanzania and the East African Community, alongside other officials. |
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| NMB Bank Chief Technology and Digital Transformation Officer, Kwame Makundi (centre) exchanges signed Memorandum of Understanding documents with UNCDF Executive Secretary Pradeep Kurukulasuriya in Dar es Salaam. The agreement advances the third phase of the PesaTech programme, through which fintechs and start-ups will receive mentorship, market linkages and opportunities to integrate their solutions into the NMB digital ecosystem. Looking on is Paola Trevisani, Head of Infrastructure and Regional Cooperation at the European Union Delegation to Tanzania and the East African Community. |
DAR ES SALAAM – NMB Bank has strengthened its commitment to Tanzania's digital innovation agenda by signing a strategic partnership with the United Nations Capital Development Fund (UNCDF) aimed at accelerating the growth of technology-driven start-ups through financing, mentorship, regulatory support, and access to markets.
The new collaboration seeks to create a stronger innovation ecosystem by connecting entrepreneurs with financial institutions, investors, government agencies, and business opportunities, enabling digital solutions to grow into sustainable enterprises that address real economic and social challenges.
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The Memorandum of Understanding (MoU) was signed in Dar es Salaam by NMB Bank Chief Technology and Digital Transformation Officer, Kwame Makundi, and UNCDF Executive Secretary, Pradeep Kurukulasuriya.
Building on the Success of PesaTech
The agreement expands a partnership first launched in 2022 through the PesaTech Programme, an initiative designed to nurture technology start-ups developing innovative solutions for financial services and other key sectors of Tanzania's economy.
Speaking during the signing ceremony, Mr. Makundi said the collaboration has entered a new growth phase following the encouraging performance of the programme's first two cohorts.
According to him, 20 start-ups have already benefited from the programme, with five currently working directly with NMB Bank.
Three of the participating companies are integrating their services into the NMB Mkononi Super App, while others are being connected to the bank's digital collections and lending platforms.
Supporting Innovation Beyond Financing
Under the new partnership, NMB will play a central role in identifying promising digital entrepreneurs and helping them transform innovative ideas into commercially viable businesses.
Beyond financing, participating start-ups will receive:
- Professional mentorship
- Legal and regulatory guidance
- Market access opportunities
- Strategic partnerships
- Technical expertise
- Digital infrastructure support
- Pathways to affordable loans and investment capital
"We want NMB to be at the centre of an integrated start-up and innovation ecosystem that develops digital solutions to challenges facing Tanzanians," Mr. Makundi said.
Priority Sectors for Digital Transformation
The partnership will focus on sectors where technology can deliver significant economic and social impact, including:
- Healthcare
- Agriculture
- Education
- Transport
- Trade
These industries have been identified as areas where digital innovation can improve service delivery, reduce operational costs, expand access to services, and increase productivity.
Vision for 2030
Mr. Makundi said NMB aims to onboard more than 30 start-ups into its innovation ecosystem by 2030, supporting businesses capable of improving livelihoods while contributing to Tanzania's growing digital economy.
He noted that the bank's extensive footprint provides start-ups with a unique opportunity to rapidly scale their innovations.
NMB currently serves customers through:
- More than 250 branches
- Over 75,000 banking agents
- More than 10 million customers nationwide
This nationwide network offers entrepreneurs immediate access to a large customer base, established financial infrastructure, and digital platforms capable of accelerating commercial adoption of innovative solutions.
Mr. Makundi also encouraged innovators to prioritize solutions that solve genuine problems facing households and businesses while maintaining high standards of cybersecurity, simplicity, and customer trust.
"Innovation succeeds when it earns customer trust, remains secure and easy to use, and creates lasting value," he said.
UNCDF Reaffirms Confidence in NMB
UNCDF Executive Secretary Pradeep Kurukulasuriya said the organisation decided to deepen its collaboration with NMB after reviewing the positive outcomes achieved during the first two phases of the PesaTech Programme.
He described NMB as a strong strategic partner capable of identifying high-potential start-ups and connecting them with capital, markets, financial services, and technology platforms necessary for sustainable growth.
According to him, start-ups play a vital role in:
- Creating employment opportunities
- Driving technological innovation
- Attracting investment
- Expanding the national tax base
- Solving social and economic challenges through innovation
Success Story from PesaTech
One of the programme's beneficiaries, Chuo Credit, shared how the partnership has already transformed its business.
Founder and Director Elibariki David Laizer said working with NMB has enabled the company to expand access to cash loans, smartphones, and laptops for university students.
He noted that the collaboration has helped the company reach an underserved market while strengthening its digital lending capabilities and compliance with formal financial sector requirements.
Looking Ahead
The newly signed agreement is expected to provide a stronger foundation for PesaTech Cohort Three, which will focus on identifying high-potential start-ups, prioritising sectors with the greatest impact, and establishing financing, market access, mentorship, and technical support mechanisms.
As Tanzania continues to embrace digital transformation, the expanded partnership between NMB Bank and UNCDF represents another significant step toward building an innovation-driven economy where technology entrepreneurs can create scalable businesses, generate employment, and deliver practical solutions that improve the lives of millions of Tanzanians.
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