By Alfred Zacharia
I&M Bank Tanzania marked its 15th anniversary on October 1, 2025 with a major milestone — the launch of Tanzania’s first World Elite Debit Mastercard, in partnership with Mastercard.
The new product suite was unveiled during a high-profile event held at the Hyatt Regency Dar es Salaam, bringing together key figures from the financial sector, including Mr. Thomas Mwongela, Manager for Oversight and Policy at the Bank of Tanzania, and Mr. Shehryar Ali, Senior Vice President and Country Manager for East Africa & Indian Ocean Islands at Mastercard.
The partnership signals a new chapter in Tanzania’s banking industry, introducing premium and secure digital payment solutions aimed at enhancing customer experience and promoting a cashless economy.
Transforming Premium Banking Experiences
The World Elite Debit Mastercard, the first of its kind in the Tanzanian market, targets high-net-worth customers by offering unparalleled lifestyle, travel, and leisure benefits.
Cardholders will have unlimited access to more than 1,700 airport lounges in over 70 countries, comprehensive travel insurance, and discounted access to over 100 global golf destinations.
“Customers today demand more than just a card — they seek value, reliability, and global access,” said Mr. Zahid Mustafa, Chief Executive Officer of I&M Bank Tanzania. “With the launch of the World Elite Debit, Gold Debit, and Multi-Currency Platinum Prepaid Cards, we are offering a seamless digital experience, peace of mind, and premium benefits that redefine convenience.”
New Products for a Diverse Market
Beyond the World Elite Debit Mastercard, I&M Bank unveiled two additional products — the I&M Mastercard Multicurrency Prepaid Card and the I&M Mastercard Gold Debit Card.
The Multicurrency Prepaid Card is the first in Tanzania to support eight currencies on a single card, enabling users to travel, shop, and transact globally without the hassle of multiple cards or conversions.
Meanwhile, the Gold Debit Card is tailored for everyday use, offering safe and seamless local and international transactions directly from bank accounts.
“These products are designed for salaried professionals, digital natives, frequent travellers, and high-net-worth individuals seeking smart, secure, and globally accepted financial tools,” said Mr. Simon Gachahi, Head of Retail and Digital Banking at I&M Bank Tanzania.
Mastercard’s Commitment to Digitization
Speaking at the event, Mr. Shehryar Ali of Mastercard emphasized the company’s dedication to driving financial inclusion and digital transformation across Africa.
“We are pleased to collaborate with I&M Bank to introduce a new suite of innovative card products that expand access to financial services and deliver exclusive benefits to cardholders,” he said. “Through Mastercard’s technology, I&M Bank customers will enjoy enhanced security, convenience, global acceptance, and access to unique offers and rewards.”
The launch comes at a time when Tanzania’s financial sector is experiencing rapid digital growth, with banks increasingly investing in products that combine technology, convenience, and security.
By integrating Mastercard’s global network with I&M Bank’s local expertise, the partnership is expected to accelerate the adoption of digital payments, support Tanzania’s financial inclusion goals, and strengthen customer trust in electronic transactions.
