Tanzania Lauded for Success in Digital Financial Inclusion

Tanzania has been lauded for facilitating agreement among telecoms to allow their customers transfer money across multiple networks. The Director of Financial Inclusion at the MasterCard Foundation, Ms Ann Miles said interoperability agreement among mobile network operators has placed the country among few global champions in financial inclusion. “Tanzania is taking the right direction, moving towards

Kikwete Lists NMB Bank Among Privatisation Success Stories

President Jakaya Kikwete has inaugurated 65 million US dollars (140bn/-) worth state-of-the-art National Microfinance Bank (NMB) building and pledged continued government support to the bank’s efforts to promote financial inclusion. The modern building with capacity to accommodate over 1000 staff, modern rooms, canteen to cater for all staff and modern private bank proves the solidity

FIS Opens Financial Inclusion Lab in India to Drive Banking Access

FIS, a global leader in banking and payments technology as well as consulting and outsourcing solutions, announced the launch of India’s first financial inclusion lab in Bengaluru. The lab is aimed at developing innovative ways to extend banking access to India’s millions of underbanked citizens. The lab is the first of its kind in India

Tanzania New Financial Inclusion Goal: 75 Per Cent

Tanzania has set a new financial inclusion goal of 75 per cent to be reached in 2016. The new target comes as the country surpassed the goal of 55 per cent in 2014, which was supposed to be reached in 2016, thanks to mobile phone money transfer. Tanzania Bankers Association Chairman Dr Charles Kimei said

National Microfinance Bank Set to Push Nation to Cash-less Society

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 Surpasses Financial Inclusion Target

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

Savings Bankers Meet in Dar es Salaam

Tanzania Postal Bank (TPB) will bring some 25 banks worldwide to the country to discuss ways of increasing financial inclusion in Africa, where Tanzania is lagging behind. The country’s financial penetration, excluding mobile banking, is still 14 per cent way behind 23 per cent of the recommended rate for Sub-Sahara Africa. The TBP Chief Executive

Egyptian Government and MasterCard sign Memorandum of Understanding

The Government of Egypt, represented by The Ministry of Communications and Information Technology, and MasterCard signed a Memorandum of Understanding (MoU) to establish a strategic collaboration that will help drive financial inclusion and maximize government efficiency. The MoU was signed by H.E. Atef Helmy, Minister of Communications and Information Technology, and Ajay Banga, Chief Executive

South Africa on a Solid Path Towards Financial Inclusion: MasterCard Report

South Africa is making significant headway in furthering financial inclusion, according to a new MasterCard report entitled “A Progressive Approach to Financial Inclusion.” The report explores the progress that 30 developed and developing countries have made in enabling access to and driving usage of different financial products including payments, lending, long-term savings or investments, and

HBL Express and NADRA Launch Branchless Banking Services

HBL has joined hands with NADRA Technologies Limited (NTL) to launch branchless banking services.To further pursue the vision of financial inclusion, financial literacy and strengthening outreach. The product suite includes Domestic Remittance backed by Mobile Wallets, Microfinance Loan Repayments, G2P Payments and International Remittances in the future. NTL e-Sahulat hosts a nationwide presence with 8000