Arusha. Tanzanian businesses are set to benefit from improved cash flow, easier access to working capital and more efficient local and international transactions following the launch of the NMB SME World Business Credit Card.
Introduced by NMB Bank in partnership with Mastercard on Friday, the card is designed to help small and medium enterprises reduce reliance on cash, streamline payments and access short-term financing without lengthy loan application procedures. Speaking during the launch in Arusha, NMB Chief of Retail Banking Filbert Mponzi said the product is intended to support business continuity during cash flow constraints.
“This is not just a new card. It is a practical tool that will help businesses keep operating whenever they need short-term financial support,” he said.
He said users can access credit of up to Sh50 million depending on their financial profile and benefit from up to 53 interest-free days on eligible transactions, allowing them to restock goods, pay suppliers and respond to market opportunities.
Mr Mponzi added that the facility removes many of the traditional barriers associated with bank loans, including lengthy application processes and collateral requirements.
Beyond credit access, the card offers travel insurance, airport lounge access and global transaction capability through Mastercard’s network, enabling smoother cross-border payments.
Mastercard Director of SME Commercialisation for East Africa and Indian Ocean Islands, Imelda Ngunzu, said the product addresses persistent challenges faced by SMEs, particularly access to timely working capital.
She said SMEs make up more than 90 per cent of businesses in Tanzania and play a critical role in employment and GDP contribution, but still face constraints in financing and payment systems.
“Access to working capital at the right time can determine whether a business misses an opportunity or grows to the next level,” she said.
NMB Head of Business Banking Deogratius Shirima said the bank is expanding digital payment solutions, including QR payments, PayByLink and POS systems, to help businesses improve cash flow and reduce dependence on cash transactions.
He said digital adoption is essential for businesses seeking to remain competitive in an increasingly technology-driven economy.
