BACKGROUND

UmojaSwitch was established in the year 2006 by six banks with the main purpose being able to establish a joint shared infrastructure for financial services and enjoying the economies of scale. This was after the challenges which faced the small banks in establishing this kind of infrastructure individually. The founding members of UmojaSwitch Company Limited are:

  1. Akiba Commercial Bank Plc
  2. Azania Bank Limited
  3. Bank Of Africa Tanzania Limited
  4. TIB Development Bank (formerly Tanzania Investment Bank Limited)
  5. Twiga Bancorp Limited
  6. DCB Commercial Bank Plc (formerly Dar es Salaam Community Bank Limited)

Eventually, the number of members joining the UmojaSwitch network continued to increase. In the year 2010, the members passed a resolution to transform the consortium into a private company limited by shares. Thus, a new company was incorporated by 2011 by the name UmojaSwitch Company Limited.  After these establishments, the following are the other members who joined after the establishment of UmojaSwitch consortium:

  1. Access Bank Tanzania Limited
  2. Advans Bank Limited
  3. Amana Bank Limited
  4. China Commercial Bank
  5. Commercial Bank of Africa (Tanzania) Limited
  6. Efatha Bank Limited
  7. Kagera Farmers Cooperative Bank Limited
  8. Kilimanjaro Cooperative Bank Limited
  9. Maendeleo Bank Limited
  10. Mbinga Community Bank Limited
  11. Meru Community Bank
  12. Mkombozi Commercial Bank Limited
  13. Mufindi Community Bank Limited
  14. Mwanga Community Bank Limited
  15. Njombe Community Bank Limited
  16. NIC Bank Limited
  17. Peoples Bank of Zanzibar
  18. Tanzania Postal Bank
  19. Tanzania Women’s Bank Plc
  20. Uchumi Commercial Bank Limited
  21. United Bank Limited

The aim of establishment was to create a shared platform where financial institutions can integrate and interpolate through a shared switch. Not only that, but also to create a shared based brand that financial institutions will be recognized as a leader in provision of financial services which are convenient, reliable, secured, accessible and affordable to our customers

MISSION AND VISION

To become the largest provider of electronic payment services in the country by providing services which are reliable, affordable and accessible for the benefit and convenience of its members and their customers.