NCBA Bank names new MD, plans expansion into key sectors

NCBA Bank Tanzania has announced its plans for expansion into key economic sectors, including FMCG, transportation, energy, and manufacturing.

Speaking at a gala dinner organised for customers over the weekend, the Group Managing director Gift Shokosaid they have realized that Tanzania’s growth is tied to the growth of these key economic sectors and we want to be part of that growth. It was at the same gala that the bank also introduced its new Managing Director and CEO, Claver Serumaga who is tasked with leading the lender into the future.

According to Mr Shoko, NCBA Bank is well-positioned to facilitate the growth of businesses across borders with its regional presence in Kenya, Uganda, Rwanda, and the Ivory Coast.

“Despite the challenges posed by the Covid-19 pandemic, NCBA Bank Tanzania has continued to thrive, thanks to its launch of the NCBA brand in multiple markets and the expansion of its digital products, including M-Pawa, which has served nearly 7 million customers. The bank is dedicated to providing financial services to the unbanked population, and its efforts have been recognized with the best digital bank award in the country,” he said.

According to him NCBA Bank Tanzania is committed to serving its customers and growing greater together.

“The bank recently received an additional Sh40 billion in capital injection from group shareholders, providing the necessary resources to see through its strategic growth plan”. The event was graced by the commissioner for financial sector development at the Ministry of Finance and Planning, Dr. Charles Mwamwaja, who said NCBA Bank Tanzania’s vision for the future is brilliant.


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