How NMB digital platforms boosted government revenue to Sh9.8 trillion

Media/news company

Mwananchi Communications Limited

Arusha. Through improvements in digital revenue collection systems, NMB Bank says it has enabled the government to collect more than Sh9.8 trillion via its digital platforms and inclusive financial services.

Speaking during the Association of Local Authorities of Tanzania (ALAT) special general meeting held in Arusha, NMB Director of Investor Relations, Sustainability and Communications, Mr Innocent Yonazi, said the contribution was the result of close collaboration between the bank and public institutions in strengthening government revenue administration. He said NMB has invested in modern payment systems that enable citizens, traders, and institutions to make government payments more easily, transparently, and efficiently, helping to reduce loopholes associated with revenue loss.

“We have been part of the transformation of government revenue collection systems, and the result has been a significant increase in efficiency, with more than Sh9.8 trillion collected through our systems since 2018,” said Mr Yonazi.

He added that the bank has continued to extend financial services to rural areas, reaching more than 3,000 villages across the country while opening more than two million new accounts for citizens.

Mr Yonazi also said NMB has continued to strengthen financially, with the bank’s asset base rising from Sh7.1 trillion in 2020 to Sh17.2 trillion in 2025, equivalent to a 142 percent increase.

On profitability, he said the bank posted profit before tax of Sh1.1 trillion, a performance he said reflects the strength of the country’s financial sector.

Opening the meeting on Wednesday, April 22, 2026, Prime Minister Dr Mwigulu Nchemba urged local government leaders to nurture the private sector so it can further drive national economic growth and support the country’s ambition of attaining a one-trillion-dollar economy by 2050.

He said the private sector is expected to contribute more than 70 percent of economic growth towards the National Vision 2050.

Dr Nchemba called on local government authorities to remove unnecessary barriers for investors and instead create a more enabling environment that will allow the private sector to grow and sustainably increase domestic revenue.

“Nurture the private sector because we depend on it greatly in creating jobs for women, youth, and special groups, while also paying taxes and making a major contribution to national revenue and the economy,” he said.

He added that revenue growth does not depend on collections alone, but also on the health of the private sector, underscoring the need to improve the investment and business environment.

The premier also urged local government leaders to be more innovative in collecting domestic revenue, improving financial systems, and sealing loopholes that lead to the loss of public funds to accelerate the implementation of development projects.

For his part, ALAT Chairman Murshid Ngeze said the meeting aims to elect new leaders who will guide the association for the next five years, with more than 400 delegates taking part.

He said the election meeting is being held under the theme: “Choose leaders who value work and human dignity to achieve the goals of Vision 2050.”