NMB Bank Plc in Tanzania is expanding its focus on young people by integrating financial services with education, professional training, and business support. According to Daily News, the bank’s new GO na NMB youth proposition aims to equip young Tanzanians with the resources necessary to build sustainable livelihoods and enhance their participation in the national economy. This approach reflects a broader recognition that financial inclusion alone is insufficient without accompanying practical skills and income opportunities.
Ruth Zaipuna, the bank’s Managing Director, stated that the initiative seeks to expand access to personalized and secure financial products for youth. She emphasized that the goal is to encourage responsible money management while helping young people shape their economic futures. The bank’s strategy includes a scholarship scheme for disadvantaged university students. For the 2026/2027 intake, the NMB Foundation has allocated 1 billion Tanzanian shillings to support 50 young people. Nelson Karumuna, General Manager of the NMB Foundation, explained that this support extends beyond tuition to include living stipends, laptops, and guidance from corporate professionals.
The bank is also targeting young entrepreneurs through a seed-capital grant scheme for promising business ideas. Additionally, a specific loan product uses QR technology to support financing for operators in the motorcycle and three-wheeler transport industry. Filbert Mponzi, Chief of Retail Banking, said the bank wants young people to view financial institutions as active partners that provide digital credit tools to turn small ideas into formal businesses.
NMB’s investment in talent development also includes a two-year management trainee track and a readiness program for new graduates, both developed with the University of Dar es Salaam. The trainee program provides graduates with practical experience in banking operations. Furthermore, a financial literacy initiative, run in collaboration with Save the Children Tanzania, equips young people with management skills to help them create jobs rather than just seek them.