Enhance digital services, PM urges banks

DAR ES SALAAM: PRIME Minister Kassim Majaliwa has called on financial institutions in the country to improve electronic services to enhance financial inclusion.

Speaking in Dar es Salaam yesterday while officially launching the National Bank of Commerce‘s (NBC) digital service, dubbed NBC Kiganjani, Mr Majaliwa emphasised that digital financial services would simplify transactions, including saving, sending and receiving money.

The Prime Minister also directed the Ministry of Finance and the Bank of Tanzania (BoT) to promote the use of digital payment systems in financial services, including point-of-sale (POS) machines and payment cards.

He noted that this move would significantly boost domestic trade by ensuring faster, safer, and more affordable transactions.

The launch event was attended by Minister for Finance Dr Mwigulu Nchemba, Deputy Minister for Information, Communication, and Information Technology, Engineer Maryprisca Mahundi, Kinondoni District Commissioner Saad Mtambule, and Bank of Tanzania Deputy Governor Sauda Msemo.

Mr Majaliwa noted that NBC’s initiative would support the government’s efforts to improve revenue collection through digital means, reduce tax evasion and increase transparency in financial systems.

“This service will also enhance access to loans for farmers, traders, and small-scale entrepreneurs through formal financial channels, thus stimulating economic growth. For businesses and the private sector, NBC Kiganjani will facilitate domestic trade by ensuring fast, secure, and affordable transactions. This will encourage cash flow circulation and boost private sector growth, a crucial pillar of our economy,” he added.

Speaking at the event, Dr Nchemba highlighted the importance of NBC’s initiative in strengthening financial inclusion and fostering a digital economy.

He reaffirmed the government’s commitment to collaborating with the financial sector to expand such services efficiently and securely to more citizens.

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On her part, Ms Msemo praised NBC’s initiative and urged financial institutions to invest more in cybersecurity to safeguard customers’ funds, noting that the rise in digital financial services has been accompanied by an increase in cyber fraud.

Earlier, NBC Managing Director Theobald Sabi commented that the upgraded NBC Kiganjani app and the NBC Lipa Kiganjani (NBC Pay Number) service aim to revolutionize Tanzania’s financial ecosystem for the benefit of all citizens