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| Tanzania’s Vice-President, Hon. Deogratius Ndejembi (second left), listens to NMB Bank Managing Director and Chief Executive Officer, Ruth Zaipuna (second right), during his visit to the bank’s exhibition stand at Tanzania Startup Week 2026, held at the Julius Nyerere International Convention Centre (JNICC) in Dar es Salaam on October 19, 2026. On the right is NMB Bank Innovation Manager, Maria Mwamyalla. |
Dar es Salaam - October 19, 2026: NMB Bank has allocated TZS 2 billion to support technology startups and plans to establish an Innovation Hub in 2027 as part of its efforts to accelerate innovation, expand digital solutions and promote entrepreneurship in Tanzania.
The bank aims to integrate 30 startups into its banking systems by 2030, up from six currently, creating opportunities for emerging businesses to commercialise their innovations and reach a customer base of more than 10 million.
Speaking during Tanzania Startup Week 2026 at the Julius Nyerere International Convention Centre (JNICC) in Dar es Salaam on October 19, NMB Bank Managing Director and Chief Executive Officer, Ruth Zaipuna, said six startups had already integrated their solutions into the bank's systems and begun commercialising their products and services.
She said five additional startups were expected to be integrated before the end of 2026, following improvements to the bank's core banking infrastructure.
The event was attended by Vice-President Deogratius Ndejembi, who visited NMB's exhibition stand to learn about the bank's initiatives to support innovation and entrepreneurship.
Zaipuna explained that integration into NMB's systems enables startups to access the bank's extensive customer base, helping them expand their markets, reach more customers and develop commercially viable solutions.
"The integration process was slowed by the bank's legacy systems. However, the migration to a new core banking system this year has strengthened our capacity to integrate financial technology companies more quickly," she said.
She added that the target of integrating 30 startups by 2030 reflects NMB's ambition to support businesses capable of contributing to employment creation and economic growth.
The planned NMB Innovation Hub, expected to be established in 2027, will further strengthen the bank's efforts to nurture technology-driven businesses and facilitate the commercialisation of locally developed innovations.
Vice-President Calls for Measurable Results
Vice-President Ndejembi commended NMB for supporting young entrepreneurs but urged the bank and other financial institutions to place greater emphasis on measuring the impact of investments in startups.
He called for clear reporting on the amount of funding disbursed, the number of startups supported and how many businesses had grown into established, financially sustainable enterprises.
"It is important to assess the success of this investment by looking at the companies that have grown and expanded their business operations, rather than simply counting the number of startups established or innovations tested," he said.
Ndejembi observed that access to capital remains a major challenge for startups, particularly businesses that lack sufficient collateral to qualify for conventional financing.
He emphasised the need for financial institutions to develop financing approaches that support promising businesses while establishing mechanisms to monitor their growth, sustainability and contribution to the economy.
NMB Sandbox Has Tested More Than 300 Innovations
Earlier, NMB Bank Innovation Manager, Maria Mwamyalla, said the bank began supporting technology startups in 2021 through NMB Sandbox, a platform that enables innovators to test their solutions in a controlled banking environment.
She said more than 300 innovations had been tested through the platform, while the TZS 2 billion allocation was intended to help promising startups overcome technical challenges associated with integrating their solutions into established banking infrastructure.
According to Mwamyalla, many emerging businesses lack the specialised developers and technical resources required to connect their products and services to established financial systems, limiting their ability to bring innovations to market.
Through its integration programme, NMB seeks to bridge this gap by enabling startups to connect their solutions to the bank's systems and access opportunities to commercialise their products.
NMB has been the main sponsor of Tanzania Startup Week since 2024 under a strategic partnership aimed at strengthening the country's startup ecosystem.
With five additional integrations planned before the end of 2026 and the Innovation Hub expected in 2027, the bank's next milestone will be translating its investment in innovation into measurable business growth, sustainable enterprises and employment opportunities.
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