Jul 1, 2021

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NMB unveils exciting new youth targeted value proposition

NMB Bank in Tanzania has launched a youth-focused value proposition dubbed ‘‘GO by NMB’ that will see the youth accessing customized banking and financial solutions that serve their needs.

The youth proposition is part of NMB’s strategy aimed at building a better banking environment for the significant youth population and cementing the bank’s role in Tanzania’s economic growth, whilst encouraging a cashless society of the future. As a brand-new youth proposition experience, “Go by NMB” offers unique benefits for different segments of youth. It is designed (with a number of values adds -with deals, offers and product enhancements) to empower the youth. “Go by NMB” has come at the right time whereby the biggest Financial Service Provider in the country (NMB) affirms its participation in empowering the countries youth.
Speaking at the event launch at the end of May, Ms Ruth Zaipuna, the CEO of NMB Bank said: “Every child and youth has a right to safe, accessible financial services, and we need to empower them to grow into productive economic citizens,”

“Our goal is to expand access to personalized, safe, secure and responsible financial products and services for youth. This will ensure more youth have access to formal financial services as well as enable them to establish a disciplined culture with regards to their finances. This is turn will build their future and, in the process, stimulate the entire economy.”

“This is one of many of NMB’s initiatives in response to Government’s goal of driving financial inclusion. According to statistics, about 64% of Tanzania’s population is below 35 years. And it is NMB’s intention to reach out to and support both formal and informal youth across all segments and sectors in the country,” she added.

Tanzania has a young population, which means youth play a major role in economic growth now and in the future. As such it is important to build their financial capabilities. This requires a concerted effort from the public, private, and social sectors. At NMB Bank PLC, we are very mindful of the aspirations of the youth. Therefore, we have continued to innovate banking solutions that enable the drive for more financial inclusiveness in different market segments, including youth.

“We want to deepen our market base, and a lot of thought has been put into creating this proposition. We want to create awareness that banking can go beyond its traditional, conventional form. Our Youth Proposition is a partnership that creates value for them, the youth,” said NMB’s Chief of Retail Banking, Filbert Mponzi. Adding that the proposition would be rolled out countrywide.

Some of the immediate benefits of “Go by NMB” are:

· Digital enrolment
· Targeted deals and offers through all NMB Channels (POS, QR Codes, NMB Mkononi and Wakala’s)
· Access to two- and three-wheels loans also known as Mastaboda Loan
· QR payment discounts deals,
· Free Mobile Phone insurance
· Financial Literacy Programmes
· Access to Networking Events
· Career Fairs
· Internship opportunities
· Free Wi-Fi spots in some university campuses

“Go by NMB” is a youth proposition that will become a key pillar for driving digital adoption and a secure cashless society. The focus will be on both Formal and Informal Youth engaged in Agriculture, formal and informal Businesses (SME’S & MSME), high school, University and College students.

“Go by NMB” is a first in the market, from NMB, that makes banking a fun filled and engaging experience for the youth whilst helping them build a more financially secure future.

For more information on this initiative visit www.nmbbank.co.tz

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