NMB named Tanzania’s best bank for SMEs at Euromoney Awards

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Mwananchi Communications Limited

Dar es Salaam. NMB Bank Plc has been named Tanzania’s Best Bank for Small and Medium-sized Enterprises (SMEs) at the Euromoney Awards for Excellence 2026, highlighting its role in supporting businesses that drive trade, employment, innovation and inclusive economic growth.

The award was announced as Euromoney published the results of its 2026 Awards for Excellence programme, which recognises financial institutions for strong performance, innovation and customer impact. The winners were honoured in London on July 16.

Commenting on the recognition, NMB Bank managing director and chief executive officer Ruth Zaipuna said the award reflected the bank’s long-term commitment to supporting businesses that drive private sector growth.

“This recognition belongs to the entrepreneurs and business owners who continue to build, employ, trade and innovate across Tanzania. SMEs are a critical engine of inclusive growth, and our role is to provide practical financing, secure payment solutions, advisory support and digital tools that help them grow with confidence,” she said.

Support for SMEs is one of the key priorities under NMB Agenda 2030, the bank’s medium-term strategy for 2026–2030. The plan focuses on developing integrated SME banking ecosystems alongside strengthening retail banking, expanding wholesale value-chain solutions and diversifying beyond its traditional business.

The strategy is aligned with Tanzania Development Vision 2050 (Dira 2050), which seeks to build a competitive and inclusive private sector capable of driving innovation, investment and sustainable economic growth, with SMEs playing a central role.

The recognition comes as investor confidence in the bank remains strong.NMB recently attained a market capitalisation of about Sh8.1 trillion ($3 billion), making it East Africa’s most valuable listed bank. Its shares were trading at Sh16,700 on the Dar es Salaam Stock Exchange on July 10.

Euromoney Managing Director Guy Cooper presents the Tanzania’s Best Bank for SMEs award to NMB Bank Head of Business Banking—MSE, Alex Mgeni, during the Euromoney Awards for Excellence 2026 held at The Peninsula in London on July 16, 2026. NMB Bank was recognised for expanding access to finance for small and medium-sized enterprises (SMEs), enhancing digital payments, transaction banking and business advisory solutions.

NMB said the Euromoney award reinforces its position as a financial partner to SMEs across all 31 regions of Tanzania, providing financing, digital payment solutions, transaction banking and advisory services tailored to business needs.

The bank commands more than 20 percent of Tanzania’s SME banking market and continues to expand access to finance through alternative lending models, including unsecured loans for first-time borrowers and entrepreneurs seeking formal credit.

The recognition follows the launch of the NMB SME World Business Credit Card, developed in partnership with Mastercard to help businesses manage expenses, improve cash flow, formalise payments and access short-term working capital.

According to the bank, the card complements its wider SME offering, which includes digital payment acceptance, relationship banking, business advisory services and transaction solutions designed to reduce reliance on cash and strengthen financial records.

NMB said it will continue investing in products and services that expand access to finance, improve business resilience and enhance the competitiveness of Tanzania’s SME sector as more businesses formalise operations and adopt digital financial services.