Tunzaa, a Tanzanian fintech startup founded by Ng’winula Kingamkono in 2020, has introduced a Buy Now Pay Later (BNPL) model to enhance e-commerce in Tanzania.
This project, launched on December 24, 2024, empowers consumers by offering flexible monthly payments for goods and services.
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Revolutionising e-commerce in Tanzania
Tunzaa’s marketplace and payment solutions let consumers shop from a selected selection while managing their finances.
Kingamkono emphasised the platform’s accessibility: “You simply come to our platform and pick a product of your choice, and then you can pay for your product in installments —daily, weekly or monthly.”
Customers without bank accounts benefit most from this strategy, which encourages wise spending and good financial habits.
The Tunzaa app, available on iOS and Android, has garnered over 10,000 downloads. It offers various payment options, including bank cards and mobile money services like M-Pesa.
Upon completing a transaction, users receive confirmation through messages or calls to finalise delivery arrangements.
The platform aims to bridge the gap between consumers and businesses while addressing the challenges of limited trust and product availability in the market.
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Building financial literacy
Tunzaa is not just about transactions; it also educates users about financial management. Kingamkono stated that the platform helps users understand their consumption patterns and encourages them to save for future purchases.
“We aim at helping Africans understand their consumption, spending and saving habits,” he explained.
Tunzaa incentivises positive saving behaviours by rewarding users with points redeemable at various retailers.
This innovative model reflects a growing trend across Africa where fintech solutions increasingly address financial inclusivity.
The 40 Days 40 FinTechs initiative recognised Tunzaa for promoting financial literacy and technology adoption among young Tanzanians.
Kingamkono highlighted the importance of such initiatives: “It gives Africans a chance to see what their fellow Africans are doing, something that further inspires them to work harder.”
As Tunzaa continues to expand its offerings and improve user experience, it stands as a testament to fintech’s potential to transform everyday financial interactions in Tanzania.