NBC collects Sh295 billion through GePG systems in five months
What you need to know:
The National Bank of Commerce (NBC) Tanzania Limited said it has collected Sh295 billion between December 2018 and May 2019 through GePG system, equivalent to a monthly collection of Sh59 billion.
Dar es Salaam. The National Bank of Commerce (NBC) Tanzania Ltd has collected Sh295 billion of government revenue between December 2018 and May 2019, after the deployment of the Government Electronic Payment Gateway (GePG) system.
According to the bank’s head of retail banking, Mr Gaudence Shawa the amount is equivalent to an average of Sh59 billion monthly collection.
Opening a new branch in Tegeta, Mr Shawa who represented the bank’s managing director, Mr Theobald Sabi said government revenues collected since commencement of the system early 2018 have improved in several folds.
“We collected Sh201 billion by December 2018 through the system which is equivalent to a monthly collection of Sh16.75 billion,” he said.
The GePG was adopted in 2016 envisaged to provide payment gateway to government institutions, Ministries, Departments and Agencies (MDAs) in the government’s efforts to improve revenue collections.
Early this month, the director of financial information systems management at the ministry of Finance and Planning, Mr John Sausi was quoted saying GePG has plugged revenue leakages that caused massive loss of government’s revenues.
