Revolutionary banking product from CBA and Vodacom M-Pawa has hit over 250,000 registrations and over 50,000 customers making a total saving of Tshs1.2 billion.

The product that allows you to save money through your phone, earn interest from your savings and eventually get micro loans when in need. The product primarily aimed at the people at the bottom of the pyramid and has made it possible for Tanzanians who do not have bank accounts to save money safely at a competitive interest rate.

Users can save from as little as Tshs 1 and borrow money depending on their savings and credit history. Depositing and withdrawing money on M-Pawa is completely free.

“Just like we have seen M-Pawa allow a lot more Tanzanians to be active in the economy, we believe M-Pawa will provide Tanzanians with the confidence to save their money in a more secure way and also allow them to earn interest for their savings,” said Managing Director Rene Meza.

The partnership between CBA and M-Pawa dedicated to satisfy customers as well as continue with the transformational journey in the telecommunications industry empowering more and more Tanzanians.