Dar es Salaam. Tanzania’s banking sector has been presented as a model for mobilising investment and expanding financial inclusion in Africa, with NMB Bank chief executive Ruth Zaipuna telling a global audience at the University of Cambridge that trusted local institutions can play a central role in financing the continent’s development.
The bank said in a statement over the weekend that speaking at the Cambridge Africa Business Conference 2026, Ms Zaipuna positioned Tanzania’s banking transformation as a practical example of how African institutions can attract capital, build investor confidence and channel finance into productive sectors at a time when countries across the continent are seeking long-term funding for infrastructure, energy, agriculture and digital connectivity.
The conference, organised by Cambridge Judge Business School under the theme Building Africa’s Future: Capital, Innovation and Pan-African Scale, brought together investors, policymakers, academics, development finance institutions and business leaders.
“Africa’s future will not be delivered to us; it will be built by us through inclusive systems, trusted institutions and the discipline to deliver lasting impact for generations to come,” she said.
Using NMB’s growth story as a case study, Zaipuna traced the bank’s evolution from its establishment in 1997 with 97 branches, about 600,000 customers and deposits of Sh150 billion to one of Tanzania’s largest financial institutions.
She attributed the growth to disciplined execution, strong corporate governance, investment in people and technology, and a sustained commitment to financial inclusion.
Between 2021 and 2025, NMB invested more than Sh230 billion in digital infrastructure, cybersecurity, automation and data capabilities.
“Today, more than 98 percent of all transactions take place outside our branches through digital and alternative channels,” she said.
According to Zaipuna, the bank’s customer base has grown to more than 10 million.
In 2025, NMB recorded a pre-tax profit of Sh1.1 trillion, becoming the first company in Tanzania to surpass the trillion-shilling mark. Total assets reached Sh17.2 trillion, while loans and advances stood at more than Sh10.6 trillion and customer deposits at Sh12.6 trillion.
She said the bank’s impact extends beyond profitability. Over the past five years, NMB has injected about Sh28 trillion into the economy through lending to households and businesses in sectors including agriculture, manufacturing, trade, energy and infrastructure.
The bank also contributed approximately Sh2.7 trillion in taxes and invested in healthcare, education, youth empowerment and environmental sustainability.
Zaipuna cited NMB’s Jasiri and Jamii bonds, which raised a combined Sh474 billion, as evidence that African capital markets can mobilise substantial resources while supporting social and sustainability objectives.
Speaking during the conference, Structured Finance Expert at the African Development Bank, Eghosa Giwa Osaige, said building trust and lowering risk premiums would be critical to attracting more investment into Africa.
British International Investment (BII) Investment Director Jumai Hadiza Mohammed said NMB’s social and sustainability bonds demonstrated how innovation, partnerships and capital markets could unlock investment at scale and provide a model for other African banks.
Register to begin your journey to our premium contentSubscribe for full access to premium content
