NMB Bank and Wakandi Tanzania launches strategic partnership

After three years of dedicated work, we are incredibly proud to launch the partnership and the IT platform with one of the leading banks in Tanzania. The platform is designed to empower Savings and Credit Cooperative Societies (SACCOS) in Tanzania through modern digital solutions. We are also thrilled to have the first customers already live and using it!

With over 6 million customers and a strong local brand, NMB Bank will play an important role for Wakandi in Tanzania!

Key Highlights of the Partnership

• Real-Time Transaction Updates: Enhancing transparency and efficiency.
• Improved Deposit Management: Streamlining operations for SACCOS.
• Enhanced Financial Control: Members can manage finances with greater ease using control numbers, reducing costs.
• Multiple Payment Channels: Members can contribute, save, and repay loans via NMB Bank's mobile banking (NMB Mkononi), agency banking (NMB Wakala), and branches.
• Efficient Loan Disbursement: SACCOS leadership can issue loans more effectively through NMB Bank.
• Wakandi App: The daily operations is easily accessed by the saccos management and staff through the Wakandi app. The users do also have a clear and good overview of their account by using the Wakandi app, with easy access to a dedicated support team. 

The launch event in Dar es Salaam was attended by Espen Kvelland, CEO of Wakandi Group AS, Kwame Makundi, Chief Technology and Digital Transformation Officer at NMB Bank, and Jofrey Kengese, Manager of DART Sacco, one of the first customers on the platform.

Wakandi is committed to driving financial inclusion by digitizing the informal financial sector. Our Credit Association Management System (CAMS) makes SACCO operations faster, more secure, and transparent. By integrating with mobile money services and banks, we aim to make financial management more convenient for all members. This partnership marks a major milestone in enhancing financial services across Tanzania. We look forward to the positive impact it will have on SACCOS and their members.

NMB Bank is one of Tanzania's leading commercial banks, holding a strong market position as the second-largest bank by assets. As of 2023, the bank's total assets reached TZS 12.2 trillion, reflecting a 19% growth. It serves over 6 million customer accounts and operates more than 230 branches nationwide. NMB Bank continues to lead in digital transformation and financial inclusion, reinforcing its role as a key player in Tanzania's banking sector.