Media Statement from LAWRENCE MAFURU

I have today 24th December 2012 submitted my formal resignation as Managing Director of NBC to the Chairman of the Board of Directors of NBC to pursue other opportunities outside NBC.

As I had mentioned in my letter to the Chairman, this has not been an easy decision but as career person, there are times in our career life we have to make difficult decisions. The decision to relinquish my position is completely in line with my career objectives. After 4 years of a very progressive career at NBC, first as Country Treasurer since August 2007 and later as Chief Executive Officer since June 2010 to date, I think that it is appropriate to seek other challenges elsewhere and allow others to steer the ship at NBC.

Looking behind 4 years ago – I am very satisfied with the success I have had especially on the transformation agenda of NBC operations. We now have a much cleaner balance sheet, a stronger pool of talented young men and women; our customer experience has improved relative to where we are coming from and even more important we are well positioned for strong and sustainable growth in the next 3 years. On a personal note, I have had the opportunity to grow and develop professionally – I have grown both as business manager and a leader not only in the bank but also at industry level where I was privileged to serve as Chairman of Tanzania Bankers Association, I take pride that I also have been actively involved in shaping the future of banking in Tanzania.

I want to thank the board of NBC, my colleagues in the management team and the entire staff of NBC for the support and dynamism. I have no doubt in my mind that together with new leadership they will consolidate the success we have had in our transformational work and take the bank to the next level of being the ‘Go-To’ bank in Tanzania. All this success would not have been possible if it was not for the continued support from clients, customers and other stakeholders to whom I would like to express my most sincere gratitude.

I will announce my next destination that will certainly take me through the journey of ‘’success to significance’’, once I am through with what my family and I consider a well deserved rest , starting with the festive season, for which I extend my best wishes to all those who touched my life during my time at NBC.

Lawrence Mafuru

24th Dec 2012.