News Category: Press Release

We are excited to launch our new Asset Finance Proposition at I&M Bank Tanzania – a game-changing solution crafted to empower SMEs, Business Banking, and Affluent customers with faster, smarter, and more flexible financing. Today’s launch was marked by the ceremonial handover of 25 brand-new Mahindra vehicles to our esteemed customer, Synerrete Engineering, in partnership with Mahindra Tanzania. A proud moment that shows exactly how quickly we turn possibilities into reality. What makes it special:

• Up to 90% financing
• Repayment terms of up to 60 months
• A Business Account with Seamless payment options.
• Flexible insurance cover with financing options.

Our leadership team, led by Mr. Simon Gachahi, Head of Retail & Digital Banking, and Mr Emmanuel Wilson, Head of Credit, highlighted the bank’s unwavering commitment to supporting business growth and prosperity across Tanzania.

On 12^th December in Arusha Town, I&M Bank signed a strategic Partnership with Hanspaul aimed at strengthening vehicle asset financing solutions for their customers. This Partnership will see customers get upto 90% financing, Longer repayment periods as well as competitive Insurance options for their Assets. Yusuf Mdoe, Head of SME and Distribution, emphasized our commitment to delivering an end-to-end asset ownership experience, while Erick Akyoo, Branch Manager (Arusha) highlighted the partnership’s importance to the tourism sector, a key economic driver in the region. Together, we are making asset ownership more accessible, affordable, and sustainable.

I&M Bank Tanzania is pleased to announce a strategic partnership with Pesapal Tanzania, a licensed payment service provider and digital solutions company.

Through this collaboration, I&M Bank Tanzania will strengthen its offering to Business customers by providing access to Pesapal’s Point of Sale (POS) terminals, e-commerce platforms, and mobile payment solutions on preferential terms.

The partnership aims to support Tanzanian businesses, particularly SMEs and mid-sized enterprises, with secure, reliable, and scalable payment solutions for both in-store and online transactions.

In addition to offering superior digital payment solutions, the partnership will focus on merchant training, onboarding campaigns, and digital literacy initiatives to strengthen adoption of financial services and further support Tanzania’s cashless economy agenda. Business customers will benefit from round-the-clock assistance to ensure smooth operations at all times.

This partnership marks a significant milestone in advancing financial innovation, customer experience, and financial inclusion, reaffirming I&M Bank Tanzania’s commitment to supporting businesses in unlocking their growth potential.

Together, I&M Bank Tanzania and Pesapal are driving financial innovation and advancing convenient, cashless services for business customers.

In a recent visit to Dar es Salaam, I&M Bank Tanzania had the privilege of hosting our Group Executive Director, Mr. Sarit Raja-Shah, for a highly impactful engagement. Mr.Shah connected directly with key customers, reinforcing our commitment to building strong, trusted partnerships that drive economic progress. He also engaged with our Management Team, fostering strategic alignment on us shared vision. A key focus of the visit was exploring how I&M Bank Tanzania can further support the growth of Tanzania's economy and advance sectors such as Manufacturing, Agriculture, Trade and Tourism across the region. We are deeply grateful for Mr. Shah's leadership and insights, which continue to propel I&M Bank Tanzania toward greater impact in Eastern Africa. Together, we are shaping a brighter, more inclusive financial future for Tanzania.  

In honour of motherhood and the indispensable role women play in society, I&M Bank is proud to announce the launch of a dedicated Mother’s Room—a serene, comfortable, and thoughtfully designed space created to support mothers within the bank. Located at our head office, the Mother’s Room is specifically tailored for breastfeeding and working mothers, offering a private, hygienic, and restful environment where they can nurse, express milk, or simply take a quiet break. This initiative underscores our commitment to fostering a supportive, inclusive, and family-friendly workplace. “This room is more than just a facility—it’s a symbol of respect, care, and support for mothers. Working mothers often shoulder a dual responsibility—excelling at work while nurturing their families,” said Erica Mboya, Head of Human Resources at I&M Bank. Launched during Mother’s Day week, this initiative is part of a broader effort by the Bank to create compassionate spaces and supportive services. It reflects our belief that nurturing people goes beyond financial growth—it extends to caring for the families behind our workforce. Ndeshi Rajabu, a new mother and I&M Bank employee, shared her thoughts: “As a new mom, returning to work brought several challenges—especially finding a safe, private place to breastfeed or rest. The Mother’s Room has made a world of difference. It shows the Bank values us not just as professionals, but as parents with real-life responsibilities.” With this step, I&M Bank joins the ranks of forward-thinking organizations embracing motherhood in meaningful, empowering ways—demonstrating that even small, thoughtful changes can make a big difference.  

Theme: “Drive Potential: Empowering Youth to Bridge the Gap Between Meaningful Careers and Success”

At I&M Bank, we believe in nurturing the next generation of leaders by equipping them with the knowledge, tools, and inspiration needed to succeed. In line with this commitment, I&M Bank proudly partnered with AIESEC Tanzania to participate in two impactful career affairs: on 29th March at the Institute of Finance Management (IFM) and on 5th April at the University of Dar es Salaam (UDSM).

Themed “Drive Potential: Empowering Youth to Bridge the Gap Between Meaningful Careers and Success,” these events brought together ambitious students, career professionals, and industry leaders for engaging discussions on career development, employability, and personal growth.

Engaging with Our Future Leaders

During both events, I&M Bank had the privilege of addressing enthusiastic students from various academic backgrounds. Our team shared valuable insights into the world of banking and finance, providing a glimpse into the different career paths within the sector and the many ways one can grow within the industry.

We took the opportunity to highlight:

• Career growth opportunities at I&M Bank and within the broader financial industry

• Key employability skills that students should focus on to remain competitive in today’s dynamic job market

• Internship and graduate trainee programmes available at I&M Bank that help young professionals gain practical experience and mentorship

• Personal branding and unlocking one’s full potential through continuous learning, resilience, and a proactive mindset

Highlight of the Events (Keynote speech by Erica William Mboya)

Ms. Erica William Mboya, Head of Human Resources at I&M Bank shared her professional journey, offered invaluable career advice, and encouraged students to stay adaptable and open-minded as they navigate their paths toward success. Her address inspired attendees to reflect on how they can align their personal strengths with meaningful careers, and how to make the most of opportunities in today’s ever-changing job landscape.

Her words reinforced I&M Bank’s belief in the importance of leadership development, mentorship, and investing in human capital.

Building Bridges Between Education and Employment

The collaboration with AIESEC Tanzania at both IFM and UDSM reinforced our shared mission to build a bridge between academic knowledge and real-world application. It was inspiring to witness the energy and curiosity of the students as they asked questions, shared their aspirations, and connected with industry representatives.

These engagements are more than just events, they are investments in the future of our country. By empowering youth with the right information and guidance, we are contributing to a stronger, more prepared, and more innovative workforce.

Looking Ahead

I&M Bank remains committed to supporting youth empowerment initiatives and fostering partnerships that align with our values of growth, innovation, and inclusion. We look forward to more collaborations with institutions like AIESEC Tanzania, universities, and professional networks to continue this important dialogue around meaningful careers and success.

To all the students who participated, thank you for your enthusiasm, your drive, and your potential. The future is bright, and we’re honored to be part of your journey.

Dar es Salaam, 3rd March 2025 – I&M Bank has officially launched the ‘NI BURE KABISAAAA’ campaign, positioning itself as the only bank in Tanzania to offer unlimited free transfers from I&M Bank accounts to mobile wallets. This initiative underscores the bank’s commitment to enhancing digital banking convenience while making payments affordable for our customers.

With ‘NI BURE KABISA’, I&M Bank customers can seamlessly transfer funds to all major mobile money platforms—M-Pesa, Tigo Pesa (Mixx by Yas), Airtel Money, HaloPesa, and others—at zero cost, reinforcing the bank’s mission to provide innovative, customer-centric financial solutions.

Speaking at the launch event, Mr. Zahid Mustafa, CEO of I&M Bank, stated: “High charges and fees remain a challenge in banking. Bank-to-wallet transfers cost can go upto TZS 12,000 per transaction. Through this proposition, customers will now enjoy significant savings on their daily transactions.”

 

Speaking at the event, Mr. Simon Gachahi, Head of Retail & Digital Banking, emphasised

Today we introduce to you Moja Biashara & Zaidi Biashara accounts targeting SME customers (non-salaried). The I&M Biashara Accounts are designed to add value for SMEs and salaried customers by eliminating high Bank-to-Mobile wallet transfer costs when making payments via our digital channels. This initiative is driven by direct customer feedback gathered through engagements over the past few months.

The ‘NI BURE KABISA’ campaign is set to benefit individuals and businesses alike, providing a convenient and cost-effective way to send money instantly across Tanzania.

Ms. Zainab Maalim, Head of Digital Lending, Marketing & Communication, noted that in addition to a digital and out-of-home strategy for the campaign, I&M Bank will be on the   streets of Dar es Salaam, Mwanza, Arusha, Moshi and other localities through their Mchakamchaka activations and a partnership with Meena Ally as the campaign ambassador to support educate SME’s about our solutions and assist them in opening accounts with us.”

I&M Bank announced its entry into Rwanda with the acquisition of a majority shareholding in Banque Commerciale Du Rwanda (known as BCR) which is one of the most progressive commercial banks in Rwanda. This acquisition marks the fourth international footprint for the I&M Bank Group, which already has presence in Mauritius (Bank One Ltd) and Tanzania (I&M Bank (T) Ltd).