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NMB Bank launches credit card for businesses seeking unsecured loans up to Sh50 million
🇹🇿 Tanzania /Economy & Trade

NMB Bank launches credit card for businesses seeking unsecured loans up to Sh50 million

From Mwananchi · () Swahili

Translated from Swahili, summarized and contextualized by DistantNews.

At a glance

News Named sources New plan
  • NMB Bank and Mastercard launched the NMB SME's World Business Credit Card in Arusha, Tanzania.
  • The card offers small and medium-sized businesses access to unsecured loans of up to Sh50 million and allows interest-free purchases within 53 days.
  • It aims to simplify access to quick financing, facilitate international transactions, and includes travel benefits like medical insurance and lounge access.

Tanzanian entrepreneurs can now access quick, unsecured financing with the launch of the NMB SME's World Business Credit Card. NMB Bank, in partnership with Mastercard, introduced the card in Arusha on June 26, 2026, aiming to bridge the gap in immediate funding for small and medium-sized businesses.

This is not just a card launch, but a new tool to enable business people to keep moving forward even when the business needs short-term financial relief.

— Filbert MponziNMB's Chief Retail and Business Banking Officer, speaking at the card's launch event.

The card provides eligible business owners with access to short-term credit of up to Sh50 million. It allows purchases of goods and services to be paid later, with an interest-free period of up to 53 days. This initiative seeks to eliminate the lengthy application processes and collateral requirements typically associated with traditional bank loans.

Filbert Mponzi, NMB's Chief Retail and Business Banking Officer, stated that the card is designed to empower businesses by providing financial flexibility. "This is not just a card launch, but a new tool to enable business people to keep moving forward even when the business needs short-term financial relief," he said.

You will not be charged any interest if you use this loan within 53 days. If you exceed that period, you will start being charged interest. This is money that would normally require a long application process and collateral under standard banking procedures.

— Filbert MponziExplaining the interest-free period and comparison to traditional loans.

Beyond financing, cardholders will benefit from international acceptance through the Mastercard network, simplifying cross-border transactions. Additional perks include medical insurance up to $100,000 for international travel, baggage insurance, and VIP lounge access at over 400 airports worldwide. This comprehensive offering aims to support business growth both domestically and internationally.

Through this card, business people will be able to make international transactions more easily and securely, which will help them expand their businesses outside of Tanzania.

— Filbert MponziHighlighting the benefits for international trade.
DistantNews Editorial

Originally published by Mwananchi in Swahili. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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