MWANZA, June 22 -- MWALIMU Commercial Bank (MCB) is positioning itself to benefit from Tanzanias growing cashless economy, as the lender reports rising deposits, loan growth and a return to sustained profitability after years of losses.

MCB Chief Executive Officer Richard Makungwa said they have aligned its future growth strategy with the implementation of the Vision 2050, placing digital financial services at the centre of its plans, “We have already focused on advancing digital payment systems and promoting a cashless economy.

Our major goal is to continue improving our financial service delivery platforms,” he said during the 10th Annual General Meeting in Ilemela Municipality, Mwanza, recently.

The lender has accumulate...