Mobile banking 'will improve access to finance for rural Tanzanians'

Feb 24, 2012

The majority of people in Tanzania would benefit from the introduction of mobile banking services, savings groups have claimed.

The majority of people in Tanzania would benefit from the introduction of mobile banking services, savings groups have claimed.

Some 75 per cent of the country's population live in villages and many people are at risk having money stolen from them, the Citizen reports.

Frida Gongi, Secretary of the Economic and Planning Committee of Input Marketing Association - a union of 14 savings groups in the Mlandizi township - claimed the introduction of mobile banking will "save us from many troubles".

The lack of facilities means once people secure loans, they then have to carry the funds around with them.

These groups are calling for Barclays Bank to open a branch at Kibaha or launch mobile banking facilities so citizens no longer have to make the journey to Dar es Salaam.

Opportunity International, which currently works in several countries including Tanzania, has recently been awarded a three-year grant from Credit Suisse to extend its mobile banking service.ADNFCR-2976-ID-801302390-ADNFCR