Selcom Tanzania, a leading Pan African financial and payment technology services provider, has strategically acquired Access Microfinance, launching the new entity as Selcom Microfinance Bank Tanzania.
The rebranding and acquisition aim to blend Selcom’s fintech solutions with the traditional banking services of Access Microfinance Bank, promising to reshape the delivery and experience of financial services in the country.
Selcom, founded in 2001, is known for its extensive network of over 25,000 point-of-sale (POS) terminals and its role as a leading enabler of mobile banking and payment services in Tanzania. The company has connected more than 40 banks to mobile banking and supports over 100,000 merchants with its payment solutions.
A representative of Selcom Bank stated; “We are committed to delivering personalized financial experiences tailored to the unique needs of each customer. Whether you’re an entrepreneur seeking flexible financing options, a salaried worker looking for efficient banking services, or a student needing affordable financial solutions, Selcom’s innovative approach ensures that your financial needs are met with precision and care.” This customer-centric focus is designed to redefine banking relationships, fostering greater trust and satisfaction.
In addition to its comprehensive financial services, Selcom plans to introduce its innovative “Get Paid to Pay” solution to its digital bank customers. This initiative will enable users to earn rewards and benefits simply by engaging in everyday financial activities, further enhancing the customer experience and driving engagement.
By acquiring Access Microfinance and transforming it into Selcom Microfinance Bank Tanzania, Selcom is not only expanding its footprint but also setting a new standard for digital banking in Tanzania. This move underscores Selcom’s commitment to innovation and customer satisfaction, promising a brighter financial future for all Tanzanians.
