Tigo, DCB Bank partner to enhance financial inclusion
Chief Officer of Tigo Pesa Ms Angelica Pesha speaks during the launch today November 30, 2023. PHOTO | COURTESY
What you need to know:
- Through this partnership, DCB Bank will utilize Tigo Pesa mobile money agents to expand its reach and offer customers convenient options for depositing and withdrawing funds.
Dar es Salaam.Tigo Tanzania has partnered with DCB Bank Plc to expand financial inclusion for the unbanked through an Agency Banking service partnership.
This collaboration will enable customers to access DCB Bank services through Tigo Pesa’s extensive network of mobile money agents.
The initiative represents a significant leap forward for banks aiming to capitalise on the flourishing mobile money market across the country.
DCB plans to leverage Tigo Pesa mobile money agents to mobilise deposits and offer customers enhanced options for fund withdrawals.
The Chief Officer of Tigo Pesa, Ms Angelica Pesha, said Tigo Pesa's Agency Banking service was initiated in response to the challenges encountered by smaller and mid-tier banks when embracing the agency banking model.
“High costs and demanding management requirements often hindered their adoption. We have been managing a robust agent network for more than a decade, creating livelihoods for more than 200,000 agents,” she said.
“With this first-to-market innovative service, we aim to empower banks to broaden their market presence seamlessly, eliminating the usual burdens tied to recruitment, documentation, training, POS device provisioning, and day-to-day channel management,” she said.
Ms Pesha emphasised that the collaboration benefits partner DCB Bank and unlocks new avenues for Tigo Pesa Wakalas to flourish in providing services to bank customers.
DCB Bank’s Legal Manager and Company Secretary, Ms Regina Mduma, said this partnership will create convenience for customers, allow the bank to provide them with a wider range of services, and make it easier for them to access their money.
“It will be appreciated that DCB is a pioneer in establishing micro-lending schemes for our small traders in the community; hence, this collaboration will support our Micro, Small, and Medium Enterprises and VICOBA Group customers and allow them to easily access their accounts,” said Ms Mduma.
To enhance one’s banking experience by seamlessly depositing or withdrawing funds from bank accounts through selected Tigo Pesa Wakala’s, all one needs is a Tigo SIM to unlock this convenient service.
