Generation Equality Commitment Makers in the Spotlight. A Story of Empowerment: How NBC Bank is supporting women in Tanzania

Consolata Shayo, Branch Manager at the National Bank of Commerce (NBC) of Tanzania, commitment maker under Action Coalition on Economic Justice and Rights, believes in a future where everyone, regardless of gender, has an equal chance to thrive. For her, Generation Equality isn't just a catchy slogan - it’s a vision of an economy where everyone can fully participate: “Generation Equality is a global effort to ensure equal participation in investment and decision-making, particularly for women and children who have historically been left behind".

The NBC Bank, one of Tanzania’s leading financial institutions, is taking this vision seriously. There, gender is visible in the numbers. "At NBC, 48 per cent of our employees are women" shares Shayo. But the bank goes even further in leadership, where nearly half of the management positions (49 per cent) are held by women. This balance, she says, reflects the bank's belief that diversity isn’t just good for optics, but it drives success and innovation.

In Tanzania, gender equality has seen significant progress in recent years, driven by a combination of policy reforms, leadership by women in key positions, and grassroots initiatives. One of the most significant markers of this progress was the election of Samia Suluhu Hassan as president in 2021. In recent years, Tanzania has witnessed a notable increase in female representation at the highest levels of government: "Our cabinet now includes 30 percent women, ensuring that key issues affecting women are discussed and addressed at the highest levels," explains Shayo. This shift not only elevates women's voices but also fosters a more inclusive approach to governance.

NBC Bank has made significant economic, justice and rights commitments to the Generation Equality Forum (GEF) aimed at uplifting the less privileged, particularly women, through its citizenship program. As part of these GEF commitments, the bank is dedicated to transforming the care economy to boost women’s economic empowerment.

One of the most inspiring examples of this commitment is NBC’s marathon initiative to support women with cancer - a powerful statement about what can be achieved when communities come together: "We organize a community event where individuals participate in a marathon, and the contributions, along with bank investments, are used to support women battling cancer" the representative explains. Over 50,000 women have benefited, with 1,400 receiving direct assistance and 80 women successfully treated. As part of its commitment to maternal and child healthcare, NBC Bank has also partnered with the Benjamin Mkapa Institute to support midwives through scholarships, ensuring better healthcare for mothers and children in Tanzania. So far, this partnership provided sponsorships for over 100 women.

Under its commitments to the GEF, NBC Bank will review its citizenship policy to ensure it aligns with GEF goals, reinforcing its mission of social responsibility and gender equality. In partnership with the Uongozi Institute, NBC Bank is making progress to empower women working at the bank through leadership training: "This initiative has empowered women in our organization to take on leadership roles" says Shayo, adding that it provided many women within the organization with the tools and confidence to step into leadership roles.

Closing the gender gap with financial literacy

Empowering women economically is a central part of NBC’s mission. Through financial literacy and entrepreneurship programs, the bank trains women to run small businesses like kiosks and retail shops, helping them to access loans and build financial stability. “Currently, 65 per cent of the beneficiaries are women” says Shayo. By fostering financial independence, NBC is helping thousands of women take control of their futures.

The bank also conducts financial literacy events for children, aiming to instill good financial habits early. "We've reached numerous schools, teaching children how to manage money and grow their investments" says the representative. The results of these efforts have also transformed NBC Bank from within,  bringing significant benefits to the organization: "Women are committed and agents of integrity. The blend of men and women has transformed our organization, improved compliance and reducing risks".

As Shayo puts it, "We are not self-sufficient as individuals. We depend on each other to make change". By unlocking the potential of both men and women, NBC Bank isn’t just changing lives - it’s helping to transform Tanzania’s economy and society.