Tanzania: Minister Hails NMB for Supporting Innovation

The Minister of Education, Science and Technology, Prof Adolf Mkenda, has appreciated NMB Bank’s support for sponsoring the innovation week of Tanzania taking place in Dodoma.

Prof Mkenda said this during the exhibition inauguration that started on Monday this week and graced by the Zanzibar First Vice President, Othman Masoud Othman.

“We really appreciate NMB support since they have been very close to our Ministry and they have supported innovators and mostly youth and ensure they grow well with their innovations and even in studies,” Prof Mkenda said.

Prof Mkenda added that NMB has been close with the Ministry and they will be providing loans to higher learning students starting from diploma levels which will help increase the number of higher learning students enrolment from the next academic year.

“NMB now will be providing loans to high learning students and their loan is unique since it will be provided to students from diploma level to postgraduate levels,” said Prof Mkenda.

While speaking to the guest of honour having visited the bank’s pavilion, NMB Central zone Manager, Nsolo Mlozi said the lender values innovation and since innovations of solutions such as NMB Mkononi, NMB Pesa Wakala have contributed to bank’s success and the financial sector at large.

“It is through these innovations that we have raised with solutions that move banking services closer to the people, reduced queues in banking halls and hence contributed to NMB’s overall profitability in Tanzania. Solutions like MshikoFasta have brought great change in the financial sector and is a result of innovations,” Nsolo added.

The Zonal Manager added that, NMB has prepared a special platform (NMB SandBox) that allow various digital innovators especially those within the financial solutions to test their innovations within bank’s ecosystem.

The NMB sandbox allows the innovators to test and perform pre-qualification checks of their solutions using banking platform, before allowing them to progress to production and launch stage.

The innovation week of Tanzania has been organised by the Ministry of Education, Science and Technology begun this Monday and will end on Friday.


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