Akiba Commercial Bank Plc commenced banking operations in August 1997 as an initiative of over 300 Tanzanian entrepreneurs who were inspired to move into micro-finance, by the moral and economical concern for the plight of millions of Tanzanians.
These founding members were bound together by a strong conviction that in Akiba Commercial Bank Plc they will have the vehicle through which they would reach and help transform the lives of previously unbanked and commercially ill-equipped people around the country. The bank’s essence was to support the emergence of start-up Tanzanian businesses through the provision of financial services at all levels by a Tanzanian-owned commercial bank which understood the people it aimed to serve and was committed to. This was the original, very firm and deep-rooted mission of its founding members.
Akiba’s main target markets were small and medium sized entrepreneurs, companies, and community banks. Today Akiba has expanded its services beyond Dar es Salaam successfully establishing itself as a strong presence in the Tanzanian banking sector which has one of the highest numbers of banks in Africa. Akiba has also broadened its reach enabling it to provide financial services to customers of all levels including college and university students, entire families, homeowners, business owners, as well as private operations.
Akiba Commercial Bank Plc currently provides banking services at 17 branch locations in Tanzania. The bank recently acquired substantial capital injection from a strategic Investor and partner, the National Bank of Malawi. The capital as well as partnership with NBM is expected to broaden the bank’s products and services and to improve its technology in service delivery through various state of art Digital Banking channels such as VISA, Internet Banking, Mobile App and Agency banking.
