Tanzanian Fintech Startup Mixx to Digitize SACCO Payments Nationwide

Tanzanian fintech startup Mixx by Yas has announced a strategic partnership with UBX and the Savings and Credit Cooperative Union of Tanzania (SCCULT) to digitize financial services for SACCO (Savings and Credit Cooperative) members across the country.

Under the agreement, Mixx by Yas will serve as the exclusive digital payments platform for SACCOs in Tanzania, enabling members to save, repay loans, and access financial services via mobile phones regardless of their network provider. The move is intended to improve financial access in underserved and rural areas, where many SACCO members live without easy access to traditional banking infrastructure.

The initiative is part of a broader push to modernize SACCO operations and bridge the digital divide in Tanzania’s cooperative sector, which remains largely analog. Currently, less than 5% of SACCOs use mobile technology to serve their members, despite the growing penetration of mobile phones across the country.

Angelica Pesha, CEO of Mixx by Yas, said the partnership represents a “transformational step” for the sector. “We believe every Tanzanian deserves access to secure and user-friendly financial services. By digitizing SACCO operations, we’re helping break down long-standing barriers to inclusion,” she said.

According to the 2023 FinScope Report, only 2% of Tanzanians currently utilize SACCO services. The new platform is expected to significantly expand that number by simplifying access and reducing reliance on paperwork or physical offices.

Dr. Khadija Kishimba, representing the Bank of Tanzania, praised the collaboration as a meaningful contribution to the country’s financial inclusion goals. "This is a welcome step towards building an inclusive financial system for all Tanzanians."

UBX CEO Seronga Wangwe emphasized the benefits of instant loan disbursements and improved transparency. "With this new system, SACCOs will be able to disburse loans instantly while ensuring transparency and data accuracy. This is a crucial step in building trust between SACCOs and their members."

SCCULT Managing Director Hassan Mnyone hailed the move as a milestone for modernizing the cooperative movement. "We are committed to supporting innovations that strengthen the cooperative movement and improve the livelihoods of our communities."