NMB Bank Named Tanzania’s Largest and Most Compliant Taxpayer

Read Time:1 Minute, 46 Second

NMB Bank Plc has been recognized once again as Tanzania’s largest and most compliant taxpayer at the Taxpayers Appreciation Day, an event presided over by Her Excellency Dr. Samia Suluhu Hassan, President of the United Republic of Tanzania.

The bank also emerged as the Overall Outstanding Tax Contributor and the National Largest and Most Compliant Taxpayer in the Banking Sector for the 2023/2024 fiscal year.

The awards were presented by the Tanzania Revenue Authority (TRA), and marked the second consecutive year the institution was named the top overall taxpayer across all sectors.

Speaking after receiving the awards, NMB Bank’s Chief Executive Officer, Ms. Ruth Zaipuna, expressed gratitude to the bank’s employees, customers, and the government for their contributions to this achievement.

She emphasized that the recognition reflects the bank’s dedication to ethical business practices and its pivotal role in supporting Tanzania’s socio-economic progress.

“My heartfelt thanks also go to the Government for continuing to create a conducive environment for doing business in the country,” Ms. Zaipuna noted.

Read: NMB Bank Tanzania Applauded for Innovation in Financial Technology

During the event, the Deputy Prime Minister and Minister for Energy, Dr. Dotto Biteko, commended the importance of partnerships between taxpayers and the government.

He stressed the need for education and support to foster compliance, noting that these efforts are essential for securing resources to drive national development.

His remarks were echoed by Deputy Minister for Finance, Mr. Hamad Hassan Chande, who lauded TRA for maintaining the awards program since 2006, describing it as a key motivator for compliance.

This achievement comes just days after the bank earned international recognition as a Top Employer in Tanzania by the prestigious Top Employers Institute, joining over 2,400 organizations worldwide.

The bank has also been named the “Best Bank in Tanzania” 10 times in 11 years by Euromoney and “The Safest Bank in Tanzania” for 2023 by Global Finance Magazine.

NMB Bank operates 231 branches, more than 28,000 agents (Wakala), and 715 ATMs across Tanzania. The bank serves over 7.1 million customers and employs more than 3,600 staff.