Dar es Salaam. Airtel customers can now save their earnings directly from anywhere in the world, thanks to the telecommunication firm’s partnership with Letshego Bank Tanzania and technology provider Jumo Tanzania Services Company Ltd.
The three have come up with a mobile money savings solution that is known as Timiza Akiba.
Timiza Akiba is an easily accessible, fee-free savings solution that offers customers a monthly sum as a reward for saving towards a financial buffer, or goal, instead of spending their hard-earned cash, according to the Airtel Tanzania chief Commercial officer, Mr Rohit Tendon.
The reward is calculated as a percentage of total savings on a balance of any size to encourage and support the growth and development of healthy savings,” he said.
The Letshego Bank Tanzania chief executive officer, Mr Thabit Ndilahomba, said Timiza Akiba is the outcome of a financial empowering partnership which aims to improve lives.
“We operate in 11 markets in Africa and look forward to growing the discipline and benefits of savings for all Tanzanians,” he said.
Jumo Tanzania’s Rwebu Mutahaba said that the aim was to provide more advanced and useful financial services to people who had sometimes found it hard to make use of the conventional banking services.
For his part, while officiating the event, Bank of Tanzania director of National Payment System James Masoy - on behalf of the Governor - said the initiative would help to develop Tanzania’s drive of ensuring financial inclusion for all.