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| Mr. Allen Nkya, Senior Manager – Business Banking speaks to customers during the launch. |
Dar es Salaam, July 23, 2026 – Akiba Commercial Bank Plc (ACB) has strengthened its digital banking offering with the launch of ACB LIPA, an innovative digital payment solution designed to simplify, secure, and accelerate cashless transactions for merchants and customers across Tanzania.
The solution was officially unveiled at Kariakoo Market, Tanzania's largest commercial and trading hub, highlighting the Bank's commitment to expanding digital financial services while supporting the country's transition towards a modern, cashless economy.
Driving Digital Transformation
Speaking on behalf of Acting Managing Director Ms. Wezi Olivia Mwazani, Mr. Allen Nkya, Senior Manager – Business Banking, described the launch of ACB LIPA as a major milestone in the Bank's digital transformation journey.
He said the platform demonstrates Akiba Commercial Bank's commitment to delivering innovative, customer-focused financial solutions that make business transactions simpler, faster, safer and more convenient.
According to Mr. Nkya, ACB LIPA has been developed to support business growth, promote financial inclusion and contribute to the advancement of Tanzania's rapidly expanding digital economy.
He also expressed appreciation to the Kariakoo business community, ACB customers, business partners, stakeholders and members of the media for their continued confidence in the Bank, noting that innovation remains central to ACB's long-term strategy of enhancing customer experience while supporting sustainable economic growth.
Why Kariakoo?
Mr. Nkya explained that Kariakoo was intentionally selected as the launch venue because of its strategic importance as one of Tanzania's busiest commercial centres, serving thousands of traders and shoppers every day.
The location provides an ideal environment for introducing a payment solution capable of handling high transaction volumes while delivering speed, convenience and security.
Simplifying Digital Payments
ACB LIPA enables merchants to receive payments instantly through QR Codes and Merchant Payment Numbers, eliminating the need to handle physical cash.
The solution offers several key benefits, including:
- Instant and secure digital payments.
- Faster checkout and improved customer experience.
- Reduced risks associated with carrying and handling cash.
- Greater operational efficiency for businesses.
- Enhanced financial inclusion for merchants and consumers.
- Support for businesses of all sizes, from small traders to larger enterprises.
Meeting Growing Demand for Cashless Solutions
Speaking during the launch, Margaret Mwasumbi, Senior Manager – Digital Financial Services, said ACB LIPA was developed in response to increasing demand for secure, efficient and convenient digital payment options.
She noted that the platform allows merchants to receive payments instantly without handling cash while providing customers with a seamless and reliable payment experience.
According to Ms. Mwasumbi, the solution not only improves payment convenience but also supports business growth and broadens access to formal financial services.
Positive Reception from Kariakoo Traders
The launch received strong support from the Kariakoo business community, with traders describing ACB LIPA as a timely innovation that will simplify daily business operations and improve customer service.
Tropa John Mbogera, a clothing trader at Kariakoo Market and an Akiba Commercial Bank customer for the past four years, welcomed the initiative, saying the platform addresses the growing preference for digital payments among customers from across Tanzania.
He noted that ACB LIPA will enable customers to pay quickly, conveniently and securely, making shopping easier while helping businesses serve more customers efficiently.
Supporting Tanzania's Digital Economy
The introduction of ACB LIPA reinforces Akiba Commercial Bank's commitment to supporting Tanzania's digital transformation agenda by promoting cashless commerce, strengthening financial inclusion and providing innovative banking solutions tailored to the evolving needs of businesses and consumers.
As digital payments continue to gain momentum across the country, solutions such as ACB LIPA are expected to play a vital role in improving transaction efficiency, reducing cash dependency and accelerating economic growth.
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