Generation Equality Commitment Makers in the Spotlight: Empowering Women, Transforming Futures: NMB Bank’s Journey Towards Gender Equality

Investing in women is the key to unlocking sustainable development, eradicating poverty, and building a world of global prosperity and innovation. Yet, despite their limitless potential, women around the world continue to find barriers that hinder their access to formal employment and entrepreneurial opportunities. Breaking down these barriers is not just a necessity - it’s a catalyst for real, lasting change. In 2021, recognizing the critical need to drive gender equality through financial inclusion, NMB Bank of Tanzania made a bold commitment to empower women.

Commitment maker under Action Coalition on Economic Justice and Rights, the NMB bank pledged to scale up its Mwanamke Jasiri Initiative, dedicating 1% of its profits after tax to initiatives that uplift society, with a special focus on advancing women's education, healthcare, and financial wellbeing. This step underscores NMB Bank's dedication to creating lasting impact and breaking down the barriers that hinder women's economic empowerment.

Leading the Way in Financial Inclusion and Gender Equality
One of NMB Bank’s most significant achievements is the launch of the Jasiri Gender Bond under the Jasiri Proposition, a financial product designed to promote gender equality through financial inclusion. Initially seeking to raise $10 million, the bond far exceeded expectations, generating over $30 million. These funds have directly impacted more than 6,000 women by providing microloans, supporting over 150 small and medium-sized enterprises (SMEs), and enabling 300 agricultural businesses to thrive.

The Jasiri bond is more than a financial instrument - it is an example of NMB Bank's dedication as a Generation Equality Commitment Maker. By supporting businesses led by women, benefiting women, or employing a significant number of female staff, the Jasiri Gender Bond is actively reshaping the business landscape in Tanzania and beyond.

“Generation equality to me, means creating an environment of inclusiveness, regardless of gender, where you provide opportunity for someone to thrive or succeed. It's crucial for everyone to support generation equality, because when you are supporting generation equality, you are promoting the reduction of systemic bias and gender discrimination,” shares Beatrice Mwambije, Product Development expert focus on youth and women financial inclusion, working at the NMB Bank

Driving Change in Tanzania and Inspiring Others
Tanzania has made significant improvements in advancing gender equality, particularly through its commitments under the Generation Equality Forum Action Coalition on Economic Justice and Rights. As a GEF Global Champion, Tanzania has pledged to promote gender-transformative economies, creating an environment where women can thrive.

Aligned with these national commitments, NMB Bank plays a crucial role in driving Tanzania’s agenda on Gender Equality forward. Through initiatives like the Mwanamke Jasiri program and the Jasiri Gender Bond, NMB Bank is directly contributing to the economic empowerment of women by providing access to financial resources, supporting women-led businesses, and fostering financial literacy.

By championing financial inclusion and gender equality, NMB Bank is not just leading change within its organization but also setting a powerful example for other institutions across the country. The bank’s efforts are integral to Tanzania’s broader vision of creating a gender-transformative economy, thus reinforcing its position as a national and global leader in the fight for gender equality.