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,
National Bank of Kenya (NBK-NSE) has officially opened its ATM network for nationwide sharing aiming to attract millions of cardholders from other banks, in a new partnership with Kenya’s largest interbank ATM aggregator- PesaPoint. Following launch of this service, ATMs belonging to National Bank effectively become part of PesaPoint meaning cardholders from all other PesaPoint
Customers of M-Pesa and MTN Mobile Money in East Africa will be able to transfer money to each other following an agreement between Vodafone Group and MTN Group to interconnect their mobile money services. This interconnect collaboration between the region’s two biggest mobile money operators will enable convenient and affordable international remittances between M-Pesa customers
CRDB Bank picked the second winner of Toyota Passo in the ongoing campaign to sensitise customers to use alternative banking channels which are cost efficient and minimise risks of carrying bulk cash. Speaking at the giveaway event of the prize in Dar es Salaam, CRDB Bank Managing Director, Dr Charles Kimei, said the use of
A bank customer, Future Trading Company Limited, has sued Ecobank Tanzania Limited, demanding over 166m/- in refund and damages for alleged wrongful withdrawal of money from its account, which was subsequently diverted to a South African third party. Through EA Attorneys, the company accuses the bank of making the money transaction through electronic banking without
Safaricom has announced that it has started final preparations for the launch of the second generation of its M-PESA platform as it prepares to perform a full scale system upgrade aimed at improving efficiencies and speed over the next week. Safaricom had first announced plans to replace its M-PESA platform last year, seeking to migrate
Tanzania Ports Authority (TPA) stakeholders want the Dar es Salaam port to operate as a one stop centre and banks serving port clients to operate on 24 hours and seven days a week to boost efficiency. The stakeholders who met in Dar es Salaam recently said their recommendations would help to clear backlog of customers
Bank M, the corporate and investment bank, has continued to shine after posting robust first quarter pre-tax profit increase of 48.4 per cent. The Bank M Deputy Chief Executive officer, Ms Jacqueline Woiso, said at the news conference that the bank generated a pretax profit of 6.13bn/- in the 2015 first quarter compared to 4.13bn/-
