NBC Ltd. was formed on 1st April 2000 when NBC(1997)Ltd. was privatised and sold to ABSA Group Ltd. of South Africa. NBC(1997) Ltd. was itself born out of the nationalization of banks and financial institutions in Tanzania in 1967.Tanzania later deregulated banking in 1991. In 1997, a decision was taken to split NBC into three entities, namely NBC Holding Corporation, National Micro-finance Bank (NMB) and NBC (1997) Limited. This was the first step towards the privatization of NBC.

 

NBC Ltd. needs to be seen as a partner with government, and other organizations, in promoting the socio-economic development and prosperity of Tanzania. The government of the Republic of Tanzania has committed itself to transforming the economy of the country from being public-sector driven to being private-sector driven. To this end, privatisation has been chosen as one of the key routes by government. Privatisation entails that government is moving out of business - as in the management of companies - and promoting an enabling environment for economic growth and development as supported by the private sector.

Meaning of NBC Logo

The NBC logo is an artistic impression of what NBC stands for. NBC is a Tanzanian Bank.

The Twiga (giraffe) and Mount Kilimanjaro are key symbols of everything Tanzanian. As tourist attractions, the two stand firm as some of the pillars of the Tanzanian economy. The blue and the red are the official colours of NBC Ltd. and they are also the official colours of ABSA Group Ltd. However, whereas ABSA's more prominent colour is red, that of NBC is blue.

 

Shareholding Structure

 

ABSA Group Ltd. 55%
Government of the Republic of Tanzania 30%
International Finance Corporation 15%

 

The NBC Foundation

The NBC Foundation, established in the year 2000, enables NBC to contribute towards meeting the demands of transformation in the Tanzanian economy. Its primary aim is to create partnerships with non-profit organizations to promote sustainable development. The foundation operates as a trust and is funded annually by NBC to an amount of 2% of the declared dividend. Funding is channeled into sectors which support the corner stones of a healthy society and sound economy, namely job creation, education and health.