Equity Bank and American Express have announced a partnership agreement, through which Equity Bank will act as the exclusive issuer of American Express Card products in Kenya, Tanzania and Uganda. As part of this agreement, Equity Bank will also acquire merchants on to the American Express network in these countries. Equity Bank will begin issuing
Tanzania is considering operating its bank payments system on Saturdays, allowing customers to transfer money around, with traders remaining confident that the move would not affect banks’ trading positions. The opening of real time gross settlements (RTGS) will allow banks’ customers to move money from one account to the next, a departure from the present
Airtel Tanzania has raised its daily limit of its money service to Sh3 Million to enable customers transact larger amounts of money. Announcing the new transaction limits in Dar es Salaam, the Airtel Money Manager, Asupya Nalingigwa said Airtel customers would be spared of inconveniences of doing multiple transactions as they would be able to send
The banking sector contributes little to the economy despite its improved stability, continued growth and dominance in the financial system, the Governor of the Central Bank of Tanzania, Prof Benno Ndulu says. The BoT governor says in the 2012 Annual Report of the Bank of Tanzania’s Directorate of Banking Supervision that the contribution of the
The National Microfinance Bank PLC (NMB) in Tanzania has launched an account for Business Customers branded NMB Business Account Plus in Mwanza that would provide a wide opportunity for self service channels. The NMB Chief Finance Officer, Mr Waziri Barnabas said at the event held in Mwanza on Wednesday that NMB Business Account Plus has
Akiba Commercial Bank has been ranked as the best customer-focused bank in Tanzania mainly on convenience, pricing and commendable customer care factors. Customer care and pricing factors were seen as being among the most important indicators for many respondents, leading almost half to say that they would change their bank as a result of poor
Vodacom Tanzania has entered into a partnership with Oilcom in a deal that will see vehicle owners and motorists fuel their vehicles and pay through M-Pesa. This is the first partnership of its kind in the Tanzanian market, and motorists will now make use of the companies’ widespread networks reliably. Speaking during the launch of
Students in higher learning institutions have been implored to grab the opportunity of owning new bank account with the National Microfinance Bank (NMB) which offers attractive benefits. The NMB Personal Banking Manager Mr Julius Konyani told reporters in Dar es Salaam that the benefits will be available during the special campaign branded Ki-College Plus NMB.
Tanzania’s Bank M has completed cloud migration, seeking to enhance customer experience and security through Google Apps, BlackBerry and Outlook interoperability. Jacqueline Woiso, deputy chief executive officer (CEO) at Bank M, said: “Since the bank’s inception, we have always believed in investing in the best and the latest in technology. “This has been our firm
Vehicle owners in Tanzania are now set to pay for their car’s road licenses through M-Pesa following a partnership between Vodacom Tanzania and Tanzania Revenue Authority (TRA) to make use of the service. Speaking while launching the partnership in Dar es Salaam today, Vodacom Tanzania Head of Communication and Marketing, Kelvin Twissa, said that this
