Juma Kimori, Executive Director and Chief Finance Officer of NMB Bank Tanzania, has described Vodacom Tanzania’s quarter-century journey as nothing short of transformational for the country’s economy, crediting the telecom giant—especially its pioneering M-Pesa platform—with opening the doors to financial inclusion for millions of Tanzanians.
Speaking on a special anniversary episode hosted by Vodacom Tanzania Finance Director Hilda Bujiko, Kimori congratulated the company on reaching 25 years and singled out M-Pesa as the innovation that “changed everything.”
“As a Tanzanian and someone in financial services, we are proud because Vodacom pioneered mobile money and the rest of us followed,” Kimori said. “What started as voice and SMS has become the backbone of financial inclusion across the country.”
Reflecting on the evolving relationship between banks and telcos, the NMB CFO admitted that when mobile money first emerged, bankers viewed it as a threat. “We thought you were taking our piece of the cake,” he laughed. “Today we are partners—and stronger together.”
He highlighted landmark collaborations such as seamless bank-to-wallet and wallet-to-bank transfers, as well as joint device-financing programmes that have put smartphones in the hands of ordinary Tanzanians, enabling thousands to start and grow digital businesses.
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Looking ahead, Kimori called for even deeper partnership between NMB and Vodacom to tackle the remaining gaps in financial inclusion. With national financial inclusion now at 72% yet 85% of transactions still cash-based, he said the combination of Vodacom’s planned $100 million technology investment and NMB’s lending muscle could bring millions more into the formal financial system, especially in agriculture and MSMEs.
On cybersecurity, Kimori stressed that rising threats demand joint investment and public awareness campaigns. “A SIM swap affects both the telco and the bank—our customers are the same people. Collaboration is the only way to stay ahead,” he noted.
He also saw huge potential for the two institutions to pool their considerable corporate social investment budgets—NMB allocates around 1% of profit after tax—to amplify impact in education, women and youth empowerment, and sustainable agriculture.
Wrapping up the conversation on a lighter note, the NMB CFO revealed he is a one-or-two-cups-of-coffee-a-day man, a long-suffering fan of a football team enduring a six-match losing streak, and an avid runner and basketball enthusiast.
His final message to Vodacom was clear: “Continue embracing innovation and agility. Let’s collaborate more—banks, telcos, and the wider industry—to grow the cake for Tanzania’s society and economy. The potential is enormous.”
