SELCOM MICROFINANCE BANK LAUNCHES SELCOM BUSINESS TO ACCELERATE DIGITAL PAYMENTS FOR TANZANIAN BUSINESSES

Selcom Microfinance Bank Chief Executive Officer, Aloyse Maro.

DAR ES SALAAM, Tanzania; July 28, 2026 – Selcom Microfinance Bank has unveiled Selcom Business, a next-generation digital banking platform designed to help businesses simplify financial management, reduce transaction costs, and accelerate digital transformation through an integrated suite of banking and payment solutions. The platform builds on the success of Selcom Pesa and introduces dedicated business banking services tailored for SMEs, corporates and software developers.

Launched in Dar es Salaam, Selcom Business combines digital banking, payment processing and developer-friendly technology into a single platform, enabling businesses to manage payroll, make payments, receive collections and integrate their internal systems with banking services more efficiently.

According to Selcom Microfinance Bank Chief Executive Officer Aloyse Maro, the new platform responds directly to two major challenges facing businesses in Tanzania—the high cost of financial transactions and the lengthy process of integrating business systems with financial institutions.

"Businesses need solutions that enable them to manage their finances efficiently, reduce costs and make informed decisions based on accurate data. Through Selcom Business, we have combined banking services with technology to give businesses greater control over managing and running their financial operations," Maro said.

He noted that the launch reflects the bank's continued investment in digital innovation aimed at making financial services more accessible, efficient and secure for businesses of all sizes.

Supporting Tanzania's Digital Economy

Maro said the introduction of Selcom Business aligns with the Government's vision of accelerating digital transformation and strengthening Tanzania's innovation-driven economy.

He explained that providing businesses with secure, accessible and technology-driven financial platforms will help advance the objectives of Tanzania Development Vision 2050 by improving business efficiency, encouraging innovation and expanding participation in the country's growing digital economy.

The bank believes wider adoption of digital financial services will play a significant role in promoting business growth, strengthening financial inclusion and supporting Tanzania's long-term economic development.

Comprehensive Digital Tools for Businesses

Selcom Business has been developed as a complete digital banking solution that enables businesses to manage financial operations from a single platform. Among its key features are:

• Instant payroll processing, allowing businesses to make bulk salary payments across banks and mobile wallets in just a few steps.
• Affordable transaction bundles (Bando) with discounted pricing designed for businesses of different sizes.
• Digital payment collection tools that enable businesses to pay bills and receive payments from customers.
• Multi-user access with role-based permissions to improve internal controls and collaboration.
• Real-time financial dashboards that provide visibility into cash flows, expenses and transaction history.
• Developer-friendly REST APIs, enabling seamless integration between business systems, e-commerce platforms and Selcom's payment infrastructure without additional API access charges.
• Secure payout links, allowing vendors to submit banking details and receive payments electronically.

Built for Modern Businesses

Selcom Business has been designed to serve businesses ranging from small enterprises to large corporations while also providing software developers with tools to integrate banking services directly into their applications.

The platform is expected to improve operational efficiency by reducing manual processes, shortening transaction processing times and simplifying financial management through secure digital channels.

Speaking about the platform's evolution, Maro said Selcom Business represents the next milestone following the success of Selcom Pesa.

"When we introduced Selcom Pesa, our goal was to simplify everyday transactions for individuals. With Selcom Business, we are taking that same commitment to the business level. We understand that time and transaction fees directly impact a company's bottom line. Selcom Business is engineered to be the digital backbone that supercharges business efficiency."

Driving Financial Inclusion Through Innovation

Selcom Microfinance Bank says the launch underscores its commitment to investing in innovative financial solutions that respond to the changing needs of Tanzania's business community.

By combining digital banking, payment solutions and open technology infrastructure into one platform, the bank aims to empower businesses to operate more efficiently while contributing to greater financial inclusion and the continued growth of Tanzania's digital economy.

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