Mwalimu Commercial Bank

Mwalimu Commercial Bank PLC (MCB) is a Tanzanian commercial bank established in 2012, headquartered at Mlimani Tower on Sam Nujoma Road, Dar es Salaam . It was founded with the aim of providing innovative financial services tailored to the Tanzanian education sector and related communities. The bank is listed on the Dar es Salaam Stock Exchange under the ticker symbol MCB .

Mission and Vision

• Mission: To provide innovative financial services to the Tanzanian education ecosystem and related sectors, benefiting society .

• Vision: To be a preferred financial solution provider in Tanzania.

• Brand Promise: “Better Together” – emphasizing collaboration and support for customers’ financial goals.

Leadership and Governance

As of 2025, MCB’s leadership includes:

• Chief Executive Officer: Richard Makungwa

• Chief Financial Officer: Mussa Mwachaga

• Chief Operating Officer: Abdallah Kirungi .

The Board of Directors comprises experienced professionals, including Chairperson Francis Cecil Ramadhani and Vice Chairperson Celestine Leonard Muganga .

Products and Services

MCB offers a comprehensive range of financial services:

• Personal Banking: Savings accounts (e.g., Tukutane January, Akiba Yangu), current accounts, and fixed deposit accounts.

• Loans: Personal loans, salary advances, education loans, and micro, small, and medium enterprise (MSME) business loans.

• Insurance Services: Life and non-life insurance products, including fire, motor, marine, engineering, and agriculture insurance .

• Digital Banking: Mobile banking via 15031#, MwalimuCard VISA, and agency banking through Mwalimu Wakala .

Financial Performance

As of May 2025, MCB’s financial highlights include:

• Market Capitalization: Approximately TSh 19.2 billion.

• Share Price: TSh 310.00, with a 52-week range between TSh 280.00 and TSh 320.00

• Earnings Growth: Reported a 1,100% increase in earnings over the past year.

• Revenue: TSh 7.14 billion for the trailing twelve months.

Branch Network

MCB operates two main branches and 11 regional service centers across Tanzania, aiming to enhance accessibility and customer service .