Tanzania: New Mobile Bank Platform to Boost Financial Inclusion

Aug 28, 2017 | Tanzania Daily News; All Africa

CRDB bank has introduced a new mobile bank platform, SimAccount, that operates using mobile phones to simplify banking services.

Launching the new mobile bank platform in Dar es Salaam on Saturday, the Vice President Samia Hassan Suluhu said the new mobile bank platform came at the right time as most women were saving their income in pig banks. "This SimAccount will be easy for most women to now shifting from big banks to mobile banking, " Ms Samia said during the launch of Dar es Salaam Women Empowerment Forum. She asked women to unite under their national women empowerment forum to enable banks follow up on them instead of them to following up banks. "The time has come for banks to come to us instead for us finishing our shoes soles looking for loans, " she said amid a loud-cheer from some 4,000 members of Dar Women Empowerment Forum. The Vice President challenged women to cultivate the culture of buying goods and services from one group to other in bid to increase marketing of their products. "This way we are creating our own market... But at the moment the situation is not so since most of you buy not among yourselves, " Ms Samia said. She also asked banks to be innovative and come up with product that would woo women entrepreneurs. CRDB Managing Director Dr Charles Kimei said SimAccount operates similar to other mobile phone money platforms but backed with a bank account. "SimAccount is a bank on mobile phone and one can open an account using any mobile phone service operators," Dr Kimei said. Read more on All Africa. Source: All Africa