Tanzanian banks 'hampered by power supply issues'

Dec 22, 2010

The expansion plans of banks in Tanzania are being limited by poor power supplies and interconnectivity in the country, the Managing Director of one of the nation's financial institutions has claimed.

Dr Charles Kimei of CRDB Bank noted firms are having difficulty introducing new services due to the technical limitations caused by poor infrastructure, the Citizen reports.

He made the comments at CRDB's Kijitonyama branch in Dar es Salaam during the launch of its new Call Centre service, at which he also reiterated the company's plan to add 100,000 new customers annually over the next five years.

"These are major barriers and annoyance to us in terms of widening our product range and providing superlative services that are customer-centric," Dr Kimei was quoted as saying, adding rechargeable batteries are being used in some locations where there is a power shortage for ATM machines.

Last month, Tanzania Women's Bank outlined a capital-raising initiative that, according to Daily News, will be used to generate funds for investing in items such as mobile bank vans.