Tangazoletu Limited, a Kenyan ICT firm that develops and provides innovative, versatile and reliable ICT & Mobile Solutions won the Think Business Banking Awards 2015 in the Special Award for Product Innovation for their product, Spot Cash. The Banking Awards 2015 were the tenth celebration of the achievements of the banking sector. This year’s theme was “Innovating banking
Dar Es Salaam Stock Exchange (DSE) has positively received CRDB Bank right offer pushing its share price up by 1.2 per cent in a week to 420/- up from 415/-, after shareholders approved the issue. Tanzania Securities Weekly Commentary shows that bank counter accounted for 36 per cent of the total turnover and 99 per
Plenty of progress has been made on increasing the size of Africa’s banked population. The trouble is, from the amount of noise that is made about the topic, you would be forgiven for thinking we had fixed the problem when we really haven’t. According to the World Bank, today, 62 per cent of the world’s
CRDB Bank has managed to mobilise 254.4bn/- deposits through agent banking which was an increase of over 700 per cent in 2014. The bank’s FahariHuduma agent banking scheme was introduced in 2013 and in the first year managed to mobilise 31.7bn/- deposits. The agent banking though in its nascent stage has managed to recruit 1,067
First National Bank Tanzania (FNB Tanzania) underscored the need to impart financial management skills to small and medium business owners for sustainable business growth. FNB Senior Manager SME, Mr Frederick Lutindi, said in Dar es Salaam on Friday at a one day workshop for SMEs in line with FNB’s philosophy of providing finance for SMEs
The Tanzania Postal Bank (TPB) profitability level has crossed the ten billion mark, after it increased by almost 50 per cent since the institution was established some two decades ago. The bank said yesterday that it has made a historic pre-tax profit of 10.28bn/- in 2014, well above 6.99bn/- recorded in 2013. The bank, according
National Microfinance Bank (NMB) efforts to serve the financially underserved have shown impressive results after registering over 250,000 customers through ‘chap chap’ account. The NMB Head of Alternative Channels, Mr George Kivaria, said in Dar es Salaam that the use of mobile technology and Point of Sale (PoS) have played vital role in the opening of
The Tanzanian government has advised banks and non-bank financial institutions to extend to rural areas if they wish to be used to channel payments of public servants. The Deputy Minister for Finance and Economic Affairs, Mr Mwigulu Nchemba, said in Dar es Salaam over the weekend that the government was currently using CRDB Bank and
The Deputy Minister for Finance and Economic Affairs, Mr Adam Malima, has called upon financial institutions in the country to develop new products rooted in responsible and ethical business practices. He made the call in Dar es Salaam at the inauguration ceremony of the Diamond Trust Bank (DTB) Nelson Mandela branch. Mr Malima said that
National Bank has announced a strategic partnership with the Defence Forces Canteen Organization (DEFCO), to provide Agent banking facilities within the barracks as the bank seeks to enhance its distribution networks across the country. The bank will partner with 27 DEFCO shops across the barracks on Agent banking where customers will be able to withdraw, make deposits, check balances,
