“Bank kwa Maendeleo Yako“
MUCOBA Bank PLC, originally known as Mufindi Community Bank LTD (MuCoBa), holds the distinction of being Tanzania’s first community bank. Established in December 1998 and licensed by the Bank of Tanzania (BOT) in May 1999, MUCOBA Bank has been dedicated to providing essential banking services to the people of Mufindi and its neighboring districts since opening its doors in June 1999.
Founding Visionaries
The initial share capital of TZS 50 million was contributed by a diverse group of shareholders, including the Mufindi Education Trust (MET), Mufindi District Council, Incomet Ltd, Incofin Tanzania Ltd, Mufindi Teachers’ SACCOS, and the late Hon. J.J. Mungai. Their shared vision laid the foundation for MUCOBA Bank’s mission to uplift communities through financial empowerment.
Geographical Presence
MUCOBA Bank PLC is headquartered on Mucoba Street in Mafinga town, Iringa region. The bank extends its reach across the region with four branches: the Iringa branch, located 100 meters from the Clock Tower roundabout on the Dodoma road; the Ilula branch at Mtua area; the Igowole branch near Igowole Secondary School; and the Madibira branch, situated in the Mbarali district.
Mission Statement
Our mission is to provide high-quality, appropriate financial services that foster employment creation and wealth generation for our shareholders and clients. We are committed to sustainable growth and expansion within the district and beyond.
Vision Statement
Our vision is to become a leading Community Bank in Tanzania, delivering competitive benefits to all stakeholders.
Products and Services
Loans:
MUCOBA Bank offers a variety of loans tailored to entrepreneurs, farmers, and employees. These include Business Loans, Agricultural Loans, House Improvement Loans, Employee Loans, SACCOS Loans, and Insurance Premium Financing.
Accounts:
MUCOBA Bank PLC provides several savings account options: Lulu Account for women, Watoto Account for youth, Malengo Account, Fixed Deposit Account, Biashara Account, Group Savings Account, and Personal Savings Account.
Electronic Banking Services:
Mobile Banking: Accessible via *150*45#, enabling deposits and withdrawals.
ATM Services: Available 24/7 through the Umoja Switch network, which connects over 35 banks across Tanzania.
Agency Banking: Offers secure fingerprint withdrawal services with over 100 agencies in the Iringa region.
Usage of TISS and TIPS.
TISS (Tanzania Interbank Settlement System): Facilitates real-time interbank transactions.
TIPS (Tanzania Instant Payment System): An interoperable digital payment platform that enables instant transfers between banks and non-bank financial service providers.
Insurance:
As an agency for Reliance Insurance Company, Metro Company, and Zanzibar Insurance, MUCOBA Bank offers a range of insurance products, including Motor Vehicle Insurance (Private and Commercial), House Insurance, Money Insurance, Life Insurance, and Fidelity Insurance.
Social Impact
MUCOBA Bank PLC is more than just a financial institution; it is a catalyst for positive change in the community:
Increased Financial Accessibility: With over 100,000 customers, MUCOBA Bank provides essential banking services to rural areas previously underserved by other banks.
Improved Living Standards: Through business, agriculture, and employee loans, we have supported over 3,000 individual and group borrowers, helping to elevate their livelihoods.
Education Support: We fund school fees, hostel fees, and other necessities for more than ten orphans, ensuring they have access to education.
Infrastructure Development: Contributions include a sim tank to Mkombwe Primary School in Mafinga, providing water access to over 300 students, and the donation of school tables, chairs, and cement.
Employment: We provide jobs to over 50 workers, contributing to local economic stability.
Practical Training: Each year, we offer practical training to 100 students, equipping them with essential skills.
Free Financial Training: We provide free financial literacy training on savings, smart borrowing, and investment to 100 VICOBA groups, 50 community groups, and 300 individuals.
Environmental Responsibility: We promote a clean environment by donating 30 dustbins to stands, hospitals, and markets.
Contact Information:
MUCOBA Bank PLC
P.O. Box 147, Mafinga, Tanzania
Tel: 026-2772165 | Fax: 026-2772075
Mobile: +255 753 349 643
Email: mucoba@mucobatz.com
For more info visit https://www.mucobabank.co.tz/
