Akiba Commercial Bank
About Akiba Commercial Bank
Akiba Commercial Bank is a company founded in 1997 was acquired by National Bank of Malawi in September 2022.. Akiba Commercial Bank has raised $5.2 million across 1 funding round from investors including Accion, Incofin Investment Management and FMO. Akiba Commercial Bank offers products and services including Biashara Loans, Savings Accounts, and Akiba Mobile. Akiba Commercial Bank operates in a competitive market with competitors including Scotiabank, CRDB Bank, NMB Bank, Azania Bank and EFC Tanzania Microfinance Bank, among others.
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Akiba Commercial Bank Plc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$5.2 M (USD)
in 1 rounds
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Latest Funding Round
$5.2 M (USD), Series A
May 22, 2008
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Investors
Accion
& 7 more
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Employee Count
Employee Count
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Acquired by
National Bank of Malawi
(Sep 07, 2022)
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Products & Services of Akiba Commercial Bank
Akiba Commercial Bank offers a comprehensive portfolio of products and services, including Biashara Loans, Savings Accounts, and Akiba Mobile. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Loans designed for business growth and operational needs in Tanzania.
Accounts for secure saving with interest earnings and easy access.
Mobile platform for banking transactions and fund transfers.
Funding Insights of Akiba Commercial Bank
Akiba Commercial Bank has successfully raised a total of $5.2M through 1 strategic funding round. The most recent funding activity was a Series A round of $5.2 million completed in May 2008. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series A — $5.2M
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First Round
First Round
(22 May 2008)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2008 | Amount | Series A - Akiba Commercial Bank | Valuation | Accion |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Akiba Commercial Bank
Akiba Commercial Bank has secured backing from 8 investors, including institutional and venture fund investors. Prominent investors backing the company include Accion, Incofin Investment Management and FMO. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Impact investing in agriculture, water access, and microfinance across emerging markets.
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Founded Year | Domain | Location | |
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Development financing is provided for entrepreneurial ventures in emerging markets.
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Founded Year | Domain | Location | |
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Foundation focused on early-stage investments in fintech sector
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Akiba Commercial Bank
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Akiba Commercial Bank
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Akiba Commercial Bank Comparisons
Competitors of Akiba Commercial Bank
Akiba Commercial Bank operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Scotiabank, CRDB Bank, NMB Bank, Azania Bank and EFC Tanzania Microfinance Bank, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Commercial banking services are provided internationally by Scotiabank.
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| domain | founded_year | HQ Location |
Commercial banking services are provided by CRDB Bank in Tanzania.
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| domain | founded_year | HQ Location |
Commercial banking services are provided in Tanzania since 2005.
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| domain | founded_year | HQ Location |
Provides banking services for personal and business needs in Tanzania.
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| domain | founded_year | HQ Location |
Microfinance services are extended to underserved clients in Tanzania.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Akiba Commercial Bank
When was Akiba Commercial Bank founded?
Akiba Commercial Bank was founded in 1997 and raised its 1st funding round 11 years after it was founded.
Is Akiba Commercial Bank a funded company?
Akiba Commercial Bank is a funded company, having raised a total of $5.2M across 1 funding round to date. The company's 1st funding round was a Series A of $5.2M, raised on May 22, 2008.
What does Akiba Commercial Bank do?
Akiba Commercial Bank was established in 1997 as a commercial bank operating in Tanzania. Core activities encompass deposit management, loan provision, and transaction processing for businesses and individuals. Services are extended through branches and digital platforms, focusing on retail and corporate finance within the East African financial sector. Regulatory compliance is maintained under Tanzanian banking authorities, with operations centered on supporting local economic activities.
Who are the top competitors of Akiba Commercial Bank?
Akiba Commercial Bank's top competitors include Scotiabank, CRDB Bank and NMB Bank.
What products or services does Akiba Commercial Bank offer?
Akiba Commercial Bank offers Biashara Loans, Savings Accounts, and Akiba Mobile.
Who are Akiba Commercial Bank's investors?
Akiba Commercial Bank has 8 investors. Key investors include Accion, Incofin Investment Management, FMO, National Bank of Malawi, and Hivos.
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