NMB Bank Plc announced that it has played a vital role in enabling the government to collect billions of shillings through its various digital finance channels. As the first lender in the country to connect its systems to the government's electronic payment gateway (GePG), the publicly listed company has facilitated the efficient collection of revenues. Alfred Shao, the Chief of Wholesale Banking at NMB Bank, revealed that the government collected revenues amounting to 8.6 trillion Tanzanian shillings over a two-year period from 2019 through the GePG. This achievement was made possible by the introduction of digital solutions such as NMB Mkononi, NMB Wakala, and internet banking. Shao made this announcement during the unveiling of NMB Bank's sponsorship package worth 200 million TZS for the 37th congress of the Association of Local Government Authorities Tanzania (ALAT), which is set to commence. He highlighted the bank's technological investments and creativity that led to being the first to connect their systems to the GePG. Currently, more than 1,100 entities interact with NMB Bank's digital revenue collection platforms.
Shao emphasized that NMB Bank's highly innovative financial solutions serve local authorities, the central government, and the entire country diligently. These solutions have not only simplified tax remittances but also significantly improved the collection of requisite taxes from multiple revenue sources. In addition to their contributions to the government's revenue collection efforts, NMB Bank pledged to work closely with local government authorities and provide ongoing support. The bank has been a sponsor of the ALAT's annual general meeting for seven consecutive years, with a total sponsorship value of 1.2 billion TZS over that period. Shao explained the bank's commitment, stating, "We have been partners with ALAT in many national development endeavors for over seven years now, and that's why we readily agreed to sponsor this year's AGM when they sought our support. Of utmost importance today is the announcement of our 200 million TZS sponsorship to help organize this year's congress." The Association of Local Government Authorities Tanzania (ALAT), consisting of 184 local authorities, relies on funding for various social service projects, including education, healthcare, roads, and environmental initiatives. The primary focus of this year's three-day ALAT congress is to discuss ways to improve infrastructure for better service delivery in both Mainland Tanzania and Zanzibar.
ALAT vice chair Sima Costantine Sima expressed high regard for the commercial and developmental ties with NMB Bank, emphasizing the mutual benefits and significant value delivered to the people they serve