Sanlam Investments and Vodacom Tanzania Unveil M-Wekeza to Drive Financial Inclusion

By InstinctBusiness Nov 26, 20240

Vodacom Tanzania, in collaboration with Sanlam Investments East Africa Limited, has unveiled M-Wekeza, a mobile-first investment platform designed to connect Tanzanians to diverse investment opportunities.

Speaking at the launch in Dar es Salaam, Vodacom M-Pesa Director, Epimack Mbeteni, emphasized that M-Wekeza aims to simplify the investment process for Tanzanians, enabling them to grow their wealth by investing in various instruments such as government bonds, the stock market and other secure capital market products through Sanlam Investments.

“M-Wekeza is another step forward in our mission to empower Tanzanians by offering a wide range of digital financial services. We have designed this service to make investing easy, accessible and rewarding. Whether you are a seasoned investor or just starting, MWekeza provides a safe and simple way to grow your wealth using your mobile phone.”

This initiative marks Vodacom M-Pesa’s entry into the capital markets ecosystem, aiming to make financial growth more accessible to Tanzanians.

“By mobilising domestic savings and channeling them into investments, the initiative facilitates economic development, creates jobs and builds resilience in our economy,” said the Chief Executive Officer of the Capital Markets and Securities Authority (CMSA), Mr Nicodemus Mkama, during the platform’s launch in Dar es Salaam.

Mkama emphasised that the platform aligns with the Third National Financial Inclusion Framework (NFIF III) 2023–2028, which emphasises the use of digital platforms to distribute financial services. “Today’s occasion strengthens and enhances the pace of our financial inclusion journey, which aims to empower millions of individuals and businesses across East Africa,” he added.

The CMSA licensed Sanlam Investments East Africa Limited to provide investment and fund management services to retail and institutional investors, including medium and large pension funds across different asset classes.

Mr Mkama commended the Board and Management of both Sanlam Investments East Africa Limited and MPesa Limited for their collaboration, which led to CMSA’s approval after meeting all legal and regulatory requirements.

He attributed this achievement to the conducive policy, legal, regulatory and operational environment supported by the government under President Samia Suluhu Hassan.