NMB, Airtel Partner on Mobile Money Service

Tanzania have been urged to capitalise on the fast changing technological innovations in the mobile money industry as a way to lift them from poverty.

“We should no run away from challenges emerging from the technology revolution in the mobile money industry rather use them as an opportunity for improved livelihoods,” said Mr Mwigulu Nchemba, the Deputy Minister for Finance and Economic Affairs in Dar es Salaam on Thursday.

Launching the National Microfinance Bank (NMB) and Airtel Tanzania partnership in offering mobile money operations, he said the government commends the efforts to promote financial inclusion thus reaching more financially marginalized.

He said Airtel and other companies should prepare themselves to list at the Dar es Salaam Stock Exchange (DSE) to provide more opportunity for Tanzanians to own them and do away with allegations of lacking transparency in their operations.

He said the government is working on the ways to ensure that the present and future companies pay tax revenues accordingly.

The Acting NMB Chief Executive Officer Mr Tom Borghols, said the partnership with Airtel Tanzania means the bank will bring closer more over 1.2 million customers already using mobile money services.

“With the mobile banking services, customers can undertake cash deposits, withdraw, transferring, prepaid services,” he said adding that the technological revolution is bringing making life easier while saving time and cost.

He said further that with technology, it is difficult to predict what will happen next but currently the partnership with the telecom firm assures the bank and its customers enabled and eased financial transactions at minimum cost.

On his part, the Airtel Tanzania Managing Director Mr Sunil Colaso said the partnership allows customers for both companies to pursue secure and simple transactions using mobile phones.

“The increase in the uptake of mobile financial services has demonstrated great potential for the financial inclusion and economic growth in the country,” he said.

Originally published on DailyNews Tanzania

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