NMB payment system earns government Sh8.6 trillion

Dar es Salaam. NMB Bank through its various payment systems facilitated the government to collect Sh8.6 trillion in revenue through the Government e-Payment Gateway (GePG) payment system for three years from 2019 to 2021.

This was revealed by NMB Bank chief executive officer Ruth Zaipuna during a workshop organised by the bank for various Dar es Salaam executives and attended by Dar es Salaam Regional Commissioner Amos Makala, District Commissioners, councillors and ward executives, among others.

Ms Zaipuna said her bank has continued to invest in technology which has helped enhance financial services bringing services closer to the people and stressed her bank is committed to continuing supporting financial inclusion by providing products that meet the needs of its customers.

“Innovation is the only thing that has helped us make big strides. We have invested heavily in technology and innovation and this kind of enabled us to become the first bank to support the Government e-Payment Gateway (GePG) and so far more than 1,100 institutions have already integrated their systems into NMB system of revenue collection, “she said.

Ms Zaipuna said revenue collection through e-Payment Gateway had increased tremendous increased from Sh2.1 trillion in 2019 to Sh3.7 trillion last year.

“These funds were collected through its financial products that include NMB Mkononi, NMB Agents, Pay Number (Lipa Namba), Internet etc. We will continue to invest to ensure that our network is in good working order and to ensure payment security, “she said.

Ms Zaipuna said her bank has been at the forefront of contributing to sustainable community development across the country and added that his bank deliberately launched its NMB Foundation as part of its commitment to support sustainable development.

She said her bank had deliberately decided to set aside one percent of its profits after tax each year to support various development initiatives across the country in education, health, agriculture, environment, empowerment and emergencies.

“Through the NMB Foundation, we continue to receive applications for Nuru Yangu student scholarships announced a few weeks ago.

She said the bank will continue to work with various development partners including the government to bring about positive and sustainable development.

The Dar es Salaam Regional Commissioner Amos Makala during the workshop thanked NMB Bank for its continued support of the Government’s various efforts to bring development to its citizens.

He said the bank’s good financial performance resonates on the favorable business environment created by the Sixth Phase led by President Samia Suluhu Hassan emphasizing that the Government will continue to improve the business environment so as to attract more investors in the country.

‘NMB Bank has been at the forefront of contributing to various government development initiatives. The government has a stake in this bank and just a few days bank, the bank paid dividends to the government that will be used to enhance service delivery. We will continue to work with NMB Bank to improve provision of social services “said Makala.

He urged the bank to continue investing in research to come up with various products that that benefit all people right from the grassroots level and reiterated the Government‘s commitment to continue supporting financial inclusion.