NMB allocates over one billion, one percent (1%) of the after-tax profit, for CSR projects that aim to provide high quality social services and uphold the wellbeing of communities. The bank has historically focused its support on areas like education, health, financial capability and assistance during natural disasters.

 

CSR Strategy

Our strategy focuses on people and society, supporting education, health, creating awareness on financial capability and recovery support. We prioritize issues most important to our business and stakeholders, and the areas where we can make the greatest impact. While we receive many requests to support numerous community projects, the bank has historically focused its support on areas like education, health and assistance during natural disaster. The CSR Committee has to decline many otherwise worthy projects that fall outside its immediate priorities. These priorities are:

Financial Capability Programme

For one to be financially fit, they have to develop a mind-set that encourages managing money wisely. Tanzania faces a big challenge in financial literacy. According to research conducted by the Financial Sector Deepening Trust (FSDT), only 12% of the Tanzanian population has access to financial services. The small number of bank accounts in the country has been mostly attributed to the low level of financial literacy amongst Tanzanians. To improve financial literacy among Tanzanians, we do the following:

  • In 2016, we launched WAJIBU - a youth banking proposition meaning responsibility. Wajibu embodies three key steps: Jifunze, Jipange - WAJIBIKA! (Learn, Get Organized - Be Responsible) and comprises of three savings accounts designed to assist parents and youth to conveniently save and manage money either independently or together. These accounts are: NMB Mtoto Akaunti for children between 0-17 years; our distinct NMB Chipukizi Akaunti for teens between 13-17 which allows youth to practice saving and managing their own accounts with the consent and guidance of their parents and guardians and the NMB Mwanachuo Akaunti for tertiary students 18 years and above. To increase the level of financial literacy in Tanzania, every year we strive to provide financial education to approximately 50,000 youth and 50,000 parents and guardians through school sessions implemented in more than 2,000 primary and secondary schools. We willingly motivate and support youth and consumers to make sound financial decisions on planning and saving through financial education. We believe attention to financial capability is essential for successful financial inclusion initiatives.
  • Our financial inclusion programs implemented use the standardized training curriculum training in government and non-government schools and are delivered by qualified branch based facilitators. The curriculum is also made available online through the content partnership with Shule Direct - an online web based education platform accessed by both parents and youth.
  • We educate NMB MSE-SME customers, through the NMB Business Clubs, on matters relating to business plan writing, book keeping, financial planning, borrowing and other financial literacy areas as requested by Club members.

The NMB Foundation has continued to assist cooperatives to improve their governance, efficiency, and performance by providing training in the areas of good governance and administration, marketing and loan administration as well as financial literacy.

School Support

After the government effort to embark on the Desks Challenge, we showed our commitment and set aside Tsh 1.5BN to support the efforts in combating this status quo. A number of school desks were then distributed countrywide and there was an increased number of student enrollment in schools which resulted into a new challenge; a limited number of classrooms. Since we have always been in front line in supporting government initiatives, we stretched our policy to support the construction of classrooms at the roofing level to benefit public primary and secondary schools in the country. In recognizing the potential of ICT to act as a tool for improving education delivery, we support primary and secondary schools with used computers to enhance the government effort in the use of technologies is schools. To ensure connectivity and smooth use of computers donated, we use our staff to support schools with connectivity and the first experience using computers in the schools.

Health Sector Support

Essential hospital equipment continues to be inadequate in most of the public health facilities in Tanzania. NMB makes a genuine attempt to support the quality of health facilities in the local community and society at large. In line with the National Development Goals, we are significantly involved in the provision of complete sets of normal hospital beds and delivery beds as well as considering hospital waiting areas and bays, ward separators and waiting benches with a clear understanding of bed capacity being one of challenges in many public hospitals.

Disaster Recovery Support

Our country is prone to several natural and man-made disasters leaving thousands of people in need for both material and moral support. NMB extends a helping hand to the victims of disasters such as the earthquake in Kagera, and floods in Mpanda.

Employee Involvement

In line with our commitment to operate in a sustainable manner with the community at the centre of our right to operate, we integrate the CSR docket allowing staff to participate in the CSR projects of their choice. This is also operated as a core component of our community involvement in which the NMB CSR initiative matches employee contributions to enable them to perform at their best towards community development through volunteering.