MicroLead partner Mwanga Community Bank (MCB), started operations in 2000 after receiving its license from the Bank of Tanzania. In 2009, MCB obtained a regional banking license, allowing it to operate throughout the entire Kilimanjaro region.
MCB works with several mobile service providers to promote mobile banking and is now expanding operations in rural areas, enabling local Village Savings and Loan Associations (VSLAs) to open accounts and transact with the bank. MCB plans to establish ATMs in rural areas to support transactions for VSLAs and other rural clients.
With the goal of increasing financial inclusion in the Kilimanjaro region, CARE has acted as a technical service provider for MCB. CARE supported MCB in the development of a new savings product for VSLAs as well as integrating new products, services, and technology into its operations. To expand outreach and better onboard existing VSLAs, a critical component was training. CARE trained MCB staff in product delivery to VSLAs. Watch this space for the MCB/CARE case study on franchising a portion of its VSLA linkage services.
In Tanzania, UNCDF MicroLead is also piloting a digital finance and financial education program for refugees. Read more about it here.
CARE Tanzania and MCB utilized a franchisee model for linking savings groups. You can download the case study with lessons learned here.
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