NBC, DSE launch digital share trading service through NBC Kiganjani

DAR ES SALAAM: The National Bank of Commerce (NBC), in partnership with the Dar es Salaam Stock Exchange (DSE), has launched a strategic collaboration that allows Tanzanians to buy and sell shares of companies listed on the DSE through NBC’s mobile banking platform, NBC Kiganjani.

The partnership integrates the DSE Hisa Kiganjani platform with NBC Kiganjani, expanding access to capital market services and enabling members of the public to invest directly in listed companies using their mobile phones. The integration removes the need for investors to visit bank branches or capital market institutions to access share-trading services.

The partnership was introduced during a ceremony held in Dar es Salaam, attended by senior officials from NBC, DSE and the Capital Markets and Securities Authority (CMSA). Among them were DSE Chief Executive Officer Peter Nalitolela, NBC Managing Director Theobald Sabi and Alfred Mkombo, Director of Research, Policy and Planning at CMSA, who represented the Authority’s Chief Executive Officer and Director General, CPA Nicodemus Mkama.

Speaking at the event, Sabi said the service would give customers greater flexibility in managing their investments by enabling them to buy and sell shares, access market information and monitor investment values conveniently and securely.

“We are delighted to announce the partnership between DSE Hisa Kiganjani and NBC Kiganjani. This collaboration gives our customers the opportunity to buy shares directly through their NBC accounts using NBC Kiganjani,” said Sabi.

He said the initiative is designed to address some of the barriers that have traditionally limited access to capital market services, while creating opportunities for more Tanzanians to participate in the investment economy.

Nalitolela said the service is also available to people who are not existing NBC customers. According to him, prospective users can download NBC Kiganjani, open an account using their National Identification Number (NIDA), and access the service.

“We have enabled our DSE Hisa Kiganjani platform to be integrated with NBC Kiganjani. Once a customer logs into NBC Kiganjani, they can access DSE Hisa Kiganjani and buy shares directly,” said Nalitolela.

He said the partnership could also encourage Tanzanians to view bank accounts beyond their traditional role as savings tools and use them as instruments for wealth creation through investment.

“Instead of using our accounts only for saving, we should increase their value by using them for investment. Just as people can make various payments through their mobile phones, they can now also use those same phones to invest in shares of different companies,” he said.

Meanwhile, Mkombo said the integration represents an important development in efforts to increase public participation in Tanzania’s capital and securities markets.

“The integration of the NBC and DSE systems is expected to bring more people into the capital and securities markets through digital platforms,” said Mkombo.

He said the service will enable NBC customers to access the DSE through their mobile phones anytime and from anywhere, helping address challenges associated with accessing investment services.

According to Mkombo, the digital service provides an opportunity to broaden participation in investment and extend the benefits of capital markets to a larger segment of society.

However, he urged NBC to complement the digital service with a dedicated public education and awareness strategy. Such efforts, he said, would help Tanzanians understand how to use the platform effectively and gain knowledge of the fundamental principles of investing in capital markets.