A SHOT IN  THE  ARM  FOR   FINANCIAL INCLUSION IN EAST AFRICA   AS  NCBA  LAUNCHES  AN INNOVATIVE APPLICATION

(L - R) NCBA Group Managing Director, John Gachora, Treasury Registrar Tanzania, Nehemiah Mchechu and NCBA Tanzania Managing Director, Claver Serumaga during NCBA Tanzania customer appreciation dinner, held at Hyatt Hotel, Dar es Salaam.
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The   app offers a comprehensive suite of features accessible anytime, anywhere to both customers and non-customers

 NCBA Group has unveiled  an  innovative banking omni-channel application in Tanzania. Dubbed NCBA Now, the application will play a pivotal  role in  enhancing  digital banking penetration, besides  offering  a better overall experience for  the lender’s   customers.

Additionally, it  offers real-time account monitoring and card management, service requests and customizable alerts, fund transfer options, bill payments, and instant mobile wallet transactions, hence providing a seamless banking experience on both mobile and web. Speaking during the unveiling of the revamped  product  in Tanzania, the NCBA Group Managing Director John Gachora, said  : “The new NCBA Now App we are unveiling today, is a testament to our continued pursuit of innovation and good customer experience.”  He added :  “ As a digitally led financial institution, we want to play a big role in enhancing financial inclusion across our markets in the East African region through innovative financial solutions that cater to the market needs and also develop  products that address the challenges our customers are facing.”

Seamless

NCBA Now can be accessed through the App Store or Google Play Store, enabling customers to seamlessly manage their bank accounts from the palm of their hands. The bank will be rolling out the innovative  product in its other regional markets; Uganda, Rwanda, and Ivory Coast, further entrenching the digital banking penetration across East Africa and beyond.

During the launch, NCBA Tanzania also announced their 2023 full year financial results ending December 31st, with a strong performance of profit after tax of TZS 20 billion, representing a remarkable 157% growth rate. The bank also posted growth in customer deposits by 91.5%to TZS 262,582 million. Total assets grew by 14.5% to TZS 515,503 million.

The retail digital business in NCBA Bank, Tanzania, greatly impacted the financial performance in 2023.  Significantly, the bank disbursed TZS 100 billion  worth of loans and got  an injection of TZS 25 billion  worth of revenues using its M-Pawa digital lending. These digital ventures have contributed to the Group’s overall growth and reaffirms its commitment of   meeting the dynamic needs of the   fast paced digital era. 

 Dynamic  needs

Looking ahead, the rollout of NCBA Now is envisioned to further propel its 2024 financial performance, as it continues to re-define the banking experience and empower customers to achieve their financial goals with ease.

The bank will continue to take advantage of its  state-of-the-art platform  capabilities to roll out additional innovative digital solutions so as to meet its customers’ dynamic financial needs.   NCBA Group operates a network of more than one hundred  branches in five countries including : Kenya, Uganda, Tanzania, Rwanda and Ivory Coast.

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