Over 200,000 people are expected to get opportunity to work with Max Com Africa Limited by next year, following the launching of a new payment system named Smart Malipo. The system will facilitate various bill payments including Luku, Television decoders, Tax payment to TRA and other banking transactions which are currently paid through Max Malipo
NBC Tanzania plans a number of new products to maintain profitability and secure its strong presence in the market, its new Chief Executive Officer has said. Mr Edward Marks, NBC’s new Managing Director, told reporters in Dar es Salaam on Thursday that he would focus on system improvement and profitability to steer the bank to
One of the drivers of the country’s gross domestic product (GDP) by 7.0 per cent last year was financial intermediation, speeded up by inclusive financing. The financial inclusion assists banks to reach many customers and mobilise more deposits, which are a crucial variable for spurring investments through commercial loaning. For instance, in 2009 population with
Gemalto, the world leader in digital security, is supplying Saracens, one of the UK’s most successful rugby union clubs, with prepaid wristbands that offer fans speedy and secure contactless payment for food and drink at its Allianz Park stadium in north London. The pilot project marks the first step towards deployment to all season ticket
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
Malawi took a significant step towards creating a digital payment ecosystem in order to address poverty and drive inclusive growth. An event organized by the Government of Malawi with the United Nations Capital Development Fund’s (UNCDF) Better Than Cash Alliance and Mobile Money for the Poor initiatives brought together digital payments players to accelerate the progress
More Tanzanians are no longer visiting bank halls and automated teller machines (ATMs) as digital banking system gains momentum. The recent trend shows customers are turning their backs to bank halls and ATMs to other optional channels such as Simbanking, point of sales and plastic money. CRDB Chief Executive Officer, Dr Charles Kimei, said that
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
As e-commerce continues to gain popularity across the African continent, more effort needs to be paid towards facilitating flawless delivery to customers. This is further supported by the Global e-Commerce Logistics 2015 report which reveals that e-commerce logistics is rapidly changing to keep pace with this quickly evolving market. This is according to Sumesh Rahavendra,
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
