Dar es Salaam. NMB Bank has scooped five international accolades, thanks to its vital role in Tanzania’s economic growth endeavours, the bank said in a statement yesterday.
According to the statement, NMB was named as the Best Bank in Tanzania at the 2024 Euromoney Awards for Excellence which was held in London, UK last week.
This is the 11th time that the bank is named as such in Euromoney Awards for the past 12 years.
The Euromoney Magazine also awarded NMB as the Best Bank for ESG [Environmental, Social and Governance] and Best Digital Bank in Tanzania.
Euromoney through its Global Private Banking Awards that is the ultimate accolade for private bankers and wealth managers across the globe, also recognised NMB as Tanzania’s Best Domestic Private Bank and Tanzania’s Best Bank for High-net-worth individuals.
The bank’s Wholesale Banking Chief, Mr Alfred Shao, who travelled to London to receive the awards, said at the event that the awards were testament to NMB’s top-notch financial solutions and its catalytic contribution to the growth of Tanzania’s economy.
“NMB believes in providing financial services that are accessible to customers 24/7 as a way of enhancing convenience. As such, we keep innovating our online as well as digital platforms to maintain access for every customer and satisfy their financial service needs,” Mr Shao said.
Established 30 years ago, the Euromoney Awards for Excellence celebrate the achievements of banks and bankers from across the globe. This year, 600 banks from 100 countries participated in the awards, making it the most comprehensive accreditation programme in the industry.
NMB was named the Best Bank for ESG 2024 in Tanzania, recognizing its sustainable finance expertise and its commitment to improving the communities it serves.
“These five awards are not just a reflection of our past achievements but also a motivation for the future,” he said.
“Whether it’s through financial literacy programmes, supporting small businesses, or fostering diversity and inclusion within our workforce, we strive to create a positive social impact and empower individuals to achieve their goals.” he added.
The Euromoney’s Editor-in-Chief, Ms Louise Bowman, praised NMB for implementing a robust digital and agency banking model. She highlighted that this significant investment has resulted in 96 percent of the bank’s transactions occurring outside of branches.
“The bank now has over 28,000 agents, from under 19,000 in 2022, and has launched a digital campaign to raise awareness of its digital products including digital micro-loans.,” she noted.
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Tanzania’s opposition party ACT Wazalendo honours veteran politician under new policy
Unguja. Opposition party ACT Wazalendo today officially bids farewell to its former Chairman, Juma Duni Haji, also known as Babu Duni, as part of a new policy designed to honor retired senior leaders at a ceremony held at Kiembesamaki, Zanzibar.
The initiative highlights the party’s commitment to recognizing and supporting individuals who have served with dedication and integrity.
Babu Duni, who stepped down earlier this year, was succeeded by Othman Masoud, now the First Vice President of Zanzibar.
The policy aims to provide ongoing respect and support to retired leaders, ensuring their continued recognition and contribution to the party’s development.
“Recognizing their significant contributions to the development and prosperity of the party, this policy ensures that retired leaders continue to be acknowledged and respected by both the party and the community,” the policy states.
To benefit from this policy, leaders must not have left or been expelled from the party. They must have served the party with honor and dedication. The national leadership committee will determine whether a leader has fulfilled these criteria.
The policy seeks to honor retired leaders, protect their dignity, acknowledge their contributions, leverage their ideas for the party’s growth, and support them to the best of the party’s ability.
In honoring these leaders, the party will provide a vehicle, the type of which will be determined by the national leadership committee. Additionally, they will receive a monthly allowance, with the amount also set by this committee.
Other benefits include health insurance. If a leader does not own a home, the party will cover their rent at a rate decided by the committee.
The leadership committee may also grant special recognition based on the leader’s contributions. Retired leaders will participate in decision-making meetings according to procedures outlined in the party’s constitution.
Depending on the party’s resources at the time, the policy may also apply to retired deputy chairpersons for both the mainland and Zanzibar, the Secretary-General, Deputy Secretary-General for both mainland and Zanzibar, and the party’s Attorney General.
Additionally, leaders, executives, or members with exceptional contributions to the party’s protection, advocacy, and defense may also benefit, as determined by the leadership committee.
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