Selcom Microfinance Bank Tanzania Limited (SMFB) is one of Tanzania's leading microfinance banks, known for its focus on small and micro enterprises and low-income groups, as well as innovative digital services. Since its inception in 2008 as Access Microfinance Bank Tanzania, SMFB was acquired and renamed by Selcom Tanzania in 2024 to provide diversified financial services to individuals, SMEs and rural customers through multiple branches and advanced digital platforms. Its brand mission is to "Connect Finance, Empower the Future" to drive financial inclusion and economic development in Tanzania through low-cost financial solutions and digital innovation.
Founded
in 2008 as Access Microfinance Bank Tanzania, SMFB was acquired by Selcom Tanzania and renamed SMFB in June 2024 and is headquartered at Uhuru Heights, 4th Floor, 11102 Bibi, Dar es Salaam, Tanzania Titi Mohamed Road, P.O. Box 95068。 The bank is held by Selcom Paytech Tanzania Limited in an undisclosed shareholding ratio, with the remainder held by local and international minority shareholders and not listed on any stock exchange, reflecting its private nature and focus on the microfinance market. SMFB was previously part of the AccessBank Group and was owned by the AccessHolding Group.
SMFB's services cover the whole of Tanzania, with branches in Dar es Salaam (Kijitonyama Branch, Lumumba Branch) and other places, the exact number of branches is not disclosed. The bank provides convenient cash withdrawals through the 1Link ATM network, enhancing financial accessibility for customers in urban and remote areas. SMFBs are regulated by the Central Bank of Tanzania (BOT) and market conduct is supervised by the Tanzania Capital Market and Securities Authority (CMSA). The bank participates in the Tanzania Deposit Insurance Commission (TDIB) scheme, which protects customer deposits up to 100,000 Tanzanian shillings (about US$4). There have been no recent major compliance issues, indicating stable operations.
Financial healthSince SMFB is a private bank, specific financial indicators such as capital adequacy ratio, non-performing loan ratio and liquidity coverage ratio are not disclosed in detail in public information. According to the Central Bank of Tanzania, the capital adequacy ratio of Tanzania's banking sector averaged 19.0% in December 2022, higher than the regulatory minimum requirement of 14.5%, indicating that the industry is generally robust. As a microfinance bank, SMFB expects its capital adequacy ratio to be at or above this level. In 2023, the non-performing loan ratio of Tanzania's banking sector is around 8.4%, and SMFBs are likely to face a similar trend. In terms of liquidity ratio, Tanzania's banking sector stood at 62.9% in December 2022, well above the regulatory requirement of 20%, and SMFB's liquidity position should be similarly robust.
Deposit & Loan Products
Deposit
SMFB offers a variety of deposit products to meet the needs of individual and SME customers:
- Current Account: Support daily transactions, no interest, suitable for individual and corporate customers.
- Savings account: Competitive interest rate, the specific interest rate needs to be checked by the bank, suitable for long-term savings.
- Fixed deposits: terms from 1 month to 5 years, the interest rate depends on market conditions and the amount of the deposit.
Loan
SMFB offers a wide range of loan products, focusing on microfinance:
- Micro loans: from 500,000 Tanzanian shillings (about 200 US dollars) to 35 million Tanzanian shillings (about 13,800 US dollars), suitable for small and micro enterprises and low-income groups, repeat customers can get higher amounts.
- Trade Finance: including tender/tender bonds, performance bonds, advance payment guarantees and retention guarantees, subject to full collateral or cash guarantees.
Digital Service Experience
APP & Online Banking
- Mobile App: Selcom QwikChap POS supports mobile payments, digital wallets and financial management, with features including real-time transfers, bill payment (more than 60 bill payment providers) and account management.
- Online Banking: Available through [SMFB Online Banking], it supports account management, transfers, and loan applications.
Customer Service Quality
Service Channels
provide telephone support (+255 659 074 000, +255 746 985 840), email ([ [email protected]] (mailto:[email protected])）、WhatsApp（+255 677 600 200), open Monday to Friday 08:00-19:00 and Saturday 08:00-15:00. The Treasury Services contact number is +255 658 370 684.
Security
MeasuresFunds Safe
deposits are secured by the Tanzania Deposit Insurance Commission (TDIB) up to a maximum of 100,000 Tanzanian shillings. Real-time transaction monitoring and standard anti-fraud technology are used to ensure the safety of funds.
Industry
RankingSMFB occupies an important position in Tanzania's microfinance sector, serving 225,900 savings customers and 31,800 loan customers in 2016, with 29% of loan customers being women and 2% of rural customers. The bank plans to increase its capital from Tanzanian shillings 8.9 billion to 20 billion Tanzanian shillings, showing its market potential.
SummarySelcom Microfinance Bank Tanzania Limited is a private commercial bank with microfinance at its core, which occupies a unique position in the Tanzanian banking industry with its focus on small and micro enterprises and low-income groups, as well as innovative digital services. As a subsidiary of Selcom Tanzania, SMFB provides seamless financial services to its customers through multiple branches and the Selcom QwikChap POS platform. It plans to increase its capital from Tanzanian Shillings 8.9 billion to Tanzanian Shillings 20 billion over the next two years, showing strong potential for financial growth. SMFB's excellence in financial inclusion, customer service, and digital innovation makes it a trusted financial partner in Tanzania, despite some financial metrics and product details that are not disclosed.
BranchesAs of July 2018, ABT has branches in the following locations:
Kijitonyama Branch - Derm House, New Bagamoyo Road, Kijitonyama, Dar es Salaam Main Branch
Lumumba Branch - Summit Tower, Lumumba Road, Dar es Salaam
, Temeke Branch - Temeke Street, Dar es Salaam
Mwanza (Pamba anza B)rh II - Kishimba Building, Pamba Road, Mwanza
Kabin Branch - Isaka Road, Kabin
Tabora Branch - NSSF Building, Jamhuri Road, Tabora
Branch - Mbeya
Iringa Branch - Iringa
