Online Reporter
Nelson Gahadza
NMB Holdings says it remains on a growth trajectory, with a focus on bolstering core banking business, establishing a wider regional presence with the technology subsidiary and consolidating balance sheet growth through the property company.
The group said it would leverage technology to unlock new opportunities, drive economic growth, and shape the future of digital financial services in Africa.
Group chief executive officer Mr Gerald Gore, in a statement of financials for the year ended December 31, 2024, said the group was looking to structure appropriate funding for its clientele, with the bank well on course to draw down US$100 million from different providers of offshore lines of credit in 2025.
“In 2024, we raised over US$65 million in direct funding and trade finance limits from offshore Developmental Finance Institutions (DFIs).
“These include, among others, Proparco from France ($25 million), BII from the United Kingdom ($10 million), the Trade and Development Bank (TDB) ($15 million) and the African Development Bank (AfDB) ($15 million),” he said.
Mr Gore added that with the two new subsidiaries established in 2023 now fully operational, the group was now on course to explore opportunities to reach new markets.
Mr Gore said the group’s technology unit, Xplug Solutions Limited, continued to make growth strides in the region as well as locally.
He said that through cutting-edge fintech solutions, robotic process automation (RPA), and custom software development, the subsidiary was empowering businesses across Africa to thrive in the digital economy.
“Xplug has expanded its regional reach and is now working and supporting banks in Tanzania, Rwanda, Uganda, Mozambique, Zambia and Malawi, delivering innovative solutions that enhance financial inclusion and operational efficiency.
“In Rwanda, Xplug deployed an agency banking solution and workflow system, streamlining financial processes for financial institutions. Our RPA solutions are enhancing automation and efficiency for clients in Tanzania, Rwanda, Uganda and Zambia,” said Mr Gore.
Additionally, he added that in Mozambique, the unit was deploying mobile banking channels for a financial institution, expanding digital banking access in the region.
Mr Gore said locally in Zimbabwe, the company has deployed digital platforms, a medical aid system and member administration portals, among others.
