Koba is digitizing Savings and Credit Groups. 40 Days 40 FinTechs Tanzania Day 40


Savings and Credit groups are common across Africa. While they have contributed greatly to the development of local communities, their strong reliance on manual and cash-based processes makes them prone to fraud and mismanagement.

But, innovators are now using technology to counter these challenges by developing platforms that digitize these savings and credit groups. One such platform in Tanzania is the Koba APP.

Koba simplifies the management of group finances, enhances communication among group members, and provides a platform for financial empowerment. It’s a versatile tool designed to facilitate collaborative financial activities and promote responsible financial practices within communities.

According to Emmanuel Zakayo, the Founder of Koba, the application eases the work of people in saving groups as they can manage their group finances digitally with every member able to apply for credit and have it approved by the leaders electronically after which it is wired by the treasurer to the borrower’s mobile money number.

“Koba is available on both the Play Store and Apple Store. You just need to download the APP and register with your mobile number. We shall then send you a confirmation code to confirm your membership. You can also create a digital savings group on Koba. You simply go to the settings, select contacts of people you want to be in the savings group, create the group name and save it.” 

Zakayo noted that their biggest challenge is limited funds to scale their services and reach more people.

“We created this APP using our own personal funds. This has limited us as we can’t serve as many people as we could want because this would require more investment. We are sure that our platform is required by many groups but we cannot reach them. Hopefully, with our participation in this year’s 40 Days 40 FinTechs initiative, we shall be able to reach more people, get more customers and attract partners and investors.”

Include EveryOne Program.

We interacted with Koba on Day 40 of the 40 Days 40 FinTechs initiative for Tanzania. First implemented in Uganda, 40 Days 40 FinTechs is an annual FinTech Innovation initiative presented by HiPipo to recognize and celebrate individuals and organizations who are making significant strides in promoting financial inclusivity through the use of technology.

It is aimed at promoting innovation and collaboration among FinTechs in Africa. The initiative is designed to provide FinTechs and startups with mentorship, training, exposure, and networking opportunities to help them grow and scale their businesses.

40 Days 40 FinTechs initiative Tanzania is part of HiPipo’s broader Include EveryOne Program that is generously supported by the Gates Foundation and implemented in partnership with Level One Project, ICTC Tanzania, Ideation Corner, Cyber PLC Academy, INFITX, Crosslake Technologies, NG Films, Founders Academy and Mojaloop Foundation.

The Include EveryOne program is a beacon of acceleration of FinTech Innovation, empowerment for Women in FinTech and a catalyst for investment and development in the ICT sector. Minus 40 Days 40 FinTechs, other initiatives under the Include EveryOne Program are the FinTech Landscape Exhibition, Women in FinTech Hackathon, Summit and Incubator, Digital Impact Awards Africa and the Digital and Financial Inclusion Summit.

HiPipo is recognized as a premier advocate of digital Innovation and financial inclusion champion, a fervent proponent of the #LevelOneProject. HiPipo has been at the forefront, actively promoting digital innovation, Instant, Inclusive Payment Systems (IIPS), and DFS across Africa. With a legacy of advising, mobilizing, and facilitating the adoption of inclusive financial services, HiPipo’s efforts have been nothing short of transformative! For almost two decades, HiPipo has successfully facilitated the inclusive adoption of these crucial services.