Watu Credit Tanzania

What They Do

• Asset financing provider: Watu offers vehicle loans for boda-boda (motorbike taxis) and tuk-tuks across Tanzania—supporting entrepreneurs in acquiring these assets within 24 hours.

• Unsecured mobile-led lending: Their model relies on leveraging mobile services rather than collateral-based credit.

• Green mobility push: They recently expanded financing for CNG-powered three-wheelers, funding over 200 CNG vehicles (worth ~Tsh 2.2 billion) in just two months, targeting 1,000+ by end of 2024.

🌍 Scale & Impact

• Pan‑African reach: Active in Tanzania, Kenya, Uganda, Rwanda, Sierra Leone, Nigeria, DRC, and South Africa.

• Impressive milestones:

  • Over 600,000 loans in 7 countries, impacting 3.6 million lives.

  • Globally, more than 2 million loans across 8 countries and 8 million lives positively affected.

• Tech-enabled growth: They utilize networked MPLS with real-time monitoring across branches in Dar es Salaam (Masaki and Mwanga) for consistent service.

✅ Tanzania Loan Requirements

According to their FAQ, you’ll need:

• Valid ID: NIDA card, voter registration, or driving license

• Original TIN certificate

• Introductory letter from your local govt.

• At least one guarantor (with valid ID)

• Down payment: a minimum of Tsh 400,000

📲 Payments & Support

• Paybill number (Tanzania): 650880 — works with M-PESA, Tigo Pesa, and Airtel Money. Cash isn’t accepted.

• Customer care: Reach them via toll-free 0800 750 228 for general or support queries.

🏢 Partnerships & Funding

• In 2023/24, AHL Venture Partners provided Watu Tanzania a $3 million loan to scale motorcycle financing—underscoring their credibility.

🔍 Summary Table

💡 Why It Matters

Watu supports financial inclusion in Tanzania by offering accessible loans for income-generating transport assets. Their green initiative and strong international backing signify sustainable growth and impact.