Accepting credit cards as payment in your business transactions is a very promising concept. You can increase your revenue, your customer base and improve productivity. Getting a merchant account to be able to accept cards for payments adds convenience, cost-effectiveness and a gives the impression that your business is professionally run. If you have already
Exim Bank Tanzania has opened its second branch in Djibouti to extending its services to customers in the Horn of Africa as it continues to widen its reach to customers abroad. The Governor of The Central Bank of Djibouti, Mr Ahmed Osman, speaking at the inauguration ceremony on Monday, congratulated Exim Bank’s efforts to bring its
The Bank of Tanzania (BoT) wants non-performing loans (NPLs) in commercial banks to go down to comfortable zone of 5.0 per cent for purposes of protecting depositors’ money. The central bank said though the level is around 7.0 per cent, the risk level is, however, lower compared to other countries in the East African Community
Standard Chartered Plc, which has operated in Africa for more than 150 years and is present in 15 African countries and active in 36 countries across the continent, sees Nigeria and Kenya as the best opportunities on the continent for its business to expand in 2015. “We’ll spend a lot of time focused on some
Mwalimu Commercial Bank, which is in the process of formation, is expected to bring about stiff competition in the country’s banking industry because of the huge number of employees in the teaching fraternity. The bank, expected to float its initial public offer (IPO) next Monday, is a threat to mainstream banks as it will accumulate a
Backed by a staggering over 9.6bn/- financial muscle and over 12,476 members, Tanzania Prisons Savings and Credit Cooperative Society (TPS-SACCOS) has everything to convince Bank of Tanzania (BoT) Governor, Professor Benno Ndulu grant them commercial banking licence. Home Affairs Minister, Mr Matthias Chikawe, told representatives of TPS SACCOS Ltd that growth of the savings and
The government has commended Vodacom Tanzania for coming up with mobile innovative solution that will see smallholder farmers receiving support to improve their lives through Information and Communication Technology (ICT). The initiative dubbed Kilimo Klub, is an exclusive service targeting smallholder farmers and will enable farmers to access M-Pesa and get empowered financially through the
KCB Group and Safaricom have launched a new mobile banking product with the most comprehensive features yet in the market. KCB-M-PESA Account will enable customers to get loans using their mobile phones, the loans will be offered with a flexible repayment period ranging from one month to six months. In addition the facility fee for
Safaricom has announced a new service that will allow organizations to track funds sent to beneficiaries via its mobile money solution M-PESA. The solution, named M-PESA SurePay, is a closed loop payment system engineered for corporates and Public Benefit Organisations (PBO’s) who disburse funds directly to beneficiaries. The funds are sent directly to a beneficiaries
Over 7 million M-Pesa customers in Tanzania and over 18 million Safaricom customers in Kenya can now send and receive money from each other. This revolutionary service allows for mobile wallet to wallet transfers between the two largest telecom operators in East Africa. Now, customers can transfer funds across the border at the same rate
