Why NMB Now Collects More Government Revenue Than Any Other Tanzanian Bank
NMB Bank Plc has collected approximately $4 billion in public revenue for the Government of Tanzania since 2018.
NMB Bank Plc has collected approximately $4 billion in public revenue for the Government of Tanzania since 2018.
Innocent Enock Yonazi. (CBCP), the bank's Director of Investor Relations, Sustainability and Corporate Communications, disclosed the figure on Tuesday in Arusha, where local government leaders had gathered for an Association of Local Authorities of Tanzania (ALAT) special meeting to elect new leadership.
The Sh9.8 trillion he reported passed through NMB's platforms via GePG, the electronic payment gateway Parliament made mandatory through a 2017 amendment to the Public Finance Act, which now routes every tax, permit and fee paid to a public institution.
NMB was the first bank to integrate with GePG in 2018. By 2023, more than 1,100 government bodies were collecting their revenue through its platforms.
A 2021 study published in the East African Journal of Science, Technology and Innovation found GePG raised total government revenue by 44.3% and cut collection costs by 27.1% between 2015/16 and 2019/20.
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Yonazi also told delegates the bank now operates in over 3,000 villages and has added more than two million new accounts. Its asset base grew from Sh7.1 trillion in 2020 to Sh17.2 trillion in 2025, a 142 percent jump, and profit before tax crossed Sh1.1 trillion.
Prime Minister Mwigulu Nchemba opened the meeting with a focus on Tanzania's plan to grow into a trillion-dollar economy in 25 years (Vision 2050).
He cautioned local authorities against squeezing businesses too hard for revenue, because private enterprise is meant to drive seventy percent of that economy.
