Azania Bank targets students, workers with new financial services
Azania Bank staff unveil two new services in Dar es Salaam. From left: Kisutu Branch Manager, Halima Semhunge, Marketing Manager, Allan Msaliwa, Senior Marketing Officer, Elizabeth Nyattega and Ubungo Branch Manager, Emiliana Mbuya. PHOTO | THE CITIZEN CORRESPONDENT
The services, branded Boom Advance and Salary Advance, have been introduced with the aim of offering quick and flexible financial support to eligible customers, particularly those whose institutions have existing arrangements with the bank.
Dar es Salaam. Azania Bank has launched two new financial services designed to ease the burden on university students and employees in both the public and private sectors, as part of its support for the government’s efforts to improve the education sector and enhance workers’ welfare.
The services, branded Boom Advance and Salary Advance, have been introduced with the aim of offering quick and flexible financial support to eligible customers, particularly those whose institutions have existing arrangements with the bank.
Boom Advance targets students in higher learning institutions who receive loans from the Higher Education Students’ Loans Board (HESLB).
Under the new facility, students will no longer need to wait for HESLB disbursements to reflect in their accounts. Instead, they will be able to obtain a short-term advance on favourable terms to meet their essential needs while awaiting their loan instalments.
The second product, Salary Advance, is tailored for employees seeking short-term financial relief ahead of payday. The service enables a worker to access up to half of their monthly salary, which is then repaid automatically once the salary is deposited.
The advance attracts a five percent interest rate and is intended to cushion employees facing urgent financial obligations.
As part of its broader digital transformation push, Azania Bank said both services will be available through its mobile and online platforms.
Customers can apply by dialling 15075#, using the Azania Bank Mobile App or by accessing Internet Banking.
Speaking during the launch, the bank’s Senior Marketing Officer, Ms Elizabeth Nyattega, said the introduction of the two products reflects Azania Bank’s commitment to innovating and improving customer experience.
She noted that the bank’s digital strides earned it the 2025 East Africa Digital Excellence Award at the Africa Bank 4.0 Awards, organised by the international institution BII Finance.
“For students and workers across the country, this is a major opportunity,” she said.
“We have ensured that no customer is inconvenienced simply because their Boom or salary has not been credited. Through our digital channels, customers follow a few simple steps and receive funds within a short period.
These loans require no collateral—what matters is maintaining an Azania Bank account through which the Boom or salary is paid.”
Ms Nyattega added that customers are eligible to borrow up to 50 percent of their expected Boom or monthly salary, noting that the bank has already begun issuing the advances.
