Squad Digital, Sub-Saharan Africa’s leading digital advertising firm, launched an innovation lab that is aimed at spurring technological growth through incubation and research in Tanzania. Dubbed Squad Labs, the lab will have dedicated research and development teams responsible for creating innovative products and is currently working with over 30 developers in Tanzania. “We want to
Faidika, a Financial Services firm has launched a new product dubbed ‘Executive Loan’ which aims at providing up to 30m/- unsecured credit to government employees. Faidika Chief Executive Officer, Ms Marion Moore, told a news conference in Dar es Salaam that the Executive Loan product was one of the products to be used to facilitate
NBC Bank has underscored the need for Tanzanians to capitalise on the technological revolution in the banking sector that could play a key role in fast tracking human development. This was said in Dar es Salaam by the NBC Bank Direct and Development Manager, Mr Amos Lyimo, after launching salary account that will provide opportunity
Electronic payment will soon extend to the courts of law in the country in a bid to solve the problems court users face when using the newly introduced bank payments system, the government has said. The Deputy Minister for Finance and Economic Affairs, Mr Adam Malima, told the National Assembly here yesterday that the government
FINCA Tanzania that operated as a micro-finance institution for the past 17 years has been upgraded into a fully-fledged bank as ‘FINCA Microfinance Bank’. FINCA Microfinance Bank Chief Executive Officer, Mr Edward Greenwood, said in a press conference in Dar es Salaam that the development comes after successful operations and steady growth of the institution.
The Bank of Tanzania (BoT) has emerged the winner of the award titled; “Best Governance Risk and Compliance Project in Africa” for 2015. The award was presented during the Asian Banker Technology Implementation Awards 2015 Ceremony organised by a journal ‘The Asian Banker’. The award was presented to Dr Modestus Francis Kipilimba, BoT Director of
The National Microfinance Bank (NMB) says its net profit has slowed down as the result of reviewing lending procedures to maintain low defaulting ratio, as opposed to claims that the strategy was part of competition. NMB, the biggest bank in term of profitability, said despite a profit slowdown of 0.5 per cent to 38.36bn/- during
The banking sector has been advised to promote the culture of saving as experts believe that “poverty stops once savings starts”. The experts are urging that banks, especially those offering retail and savings services, should make more efforts to bring the unbanked to the financial services since domestic savings are vital for people’s development. The
The National Microfinance Bank (NMB) said it plans to enhance financial inclusion using mobile phone technology blended with internet services. Though, some quarters see mobile transaction as cashin-cash out, the bank want to reverse the phenomenal and create a cashless society where almost all payments are done through mobile handsets. The NMB Managing Director, Ms
Tanzania has surpassed its financial inclusion target of 50 per cent, some two years ahead of deadline in 2016, thanks to mobile transaction platform. The Bank of Tanzania (BoT) is now working on a new goal after the country registered a financial inclusion of 55 per cent in 2014 well ahead of Maya (Mexico) declaration
