Financial inclusion benefits over one million Tanzanians

DAR ES SALAAM: More than one million Tanzanians have gained access to essential productive assets to generate income and improve their livelihoods through financial services that have enabled them to purchase motorcycles, three-wheelers and smartphones, contributing to entrepreneurship, improved communication and increased employment opportunities across the country.

During this period, more than 70,000 motorcycles and three-wheelers, as well as over 1.5 million smartphones, were financed through these services, with more than TZS 700 billion disbursed to help Tanzanians acquire productive assets, improve transportation and strengthen economic activities in different parts of the country.

In addition to providing financial services, the company’s service delivery model integrates technology with an extensive nationwide network of local agents, making credit services more accessible and easier to manage. Customers can repay their loans cashlessly through mobile money services and the company’s mobile application, using daily, weekly or monthly repayment schedules that suit their financial capacity.

The services have also contributed to job creation, with the company currently employing more than 500 people nationwide. Women account for approximately 43 percent of the workforce and hold nearly half of all leadership positions, demonstrating the company’s contribution to promoting gender equality in the workplace.

Speaking during the company’s fifth anniversary celebration in Dar es Salaam, which brought together government leaders, development partners, business stakeholders, customers, journalists and employees to reflect on its contribution to improving the lives of Tanzanians, the company’s Country Manager, Rumisho Shikonyi, said the achievements reflect the company’s commitment to expanding access to financial services and opportunities for more Tanzanians.

“Five years ago, we started with the belief that access to opportunity should not be limited by a lack of financial services. Today, we have successfully reached customers across Tanzania, enabling them to acquire the tools they need for productivity, communication and building better lives,” she said.

Meanwhile, the company’s Board Chairperson, Bhavin Parmar, said the achievements recorded over the past five years have laid a strong foundation for sustainable growth built on accountability.

He said the board remains committed to ensuring that innovation goes hand in hand with responsibility, while every decision is aimed at creating value for customers, partners, employees and the communities the company serves.

During the event, the company expressed its gratitude to the Government of the United Republic of Tanzania, regulatory authorities, local government authorities, financial institutions, manufacturers, mobile network operators, business partners, technology partners, customers and employees for their contribution to the company’s achievements.

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The company said it will continue expanding access to productive assets, investing in technology, strengthening partnerships and providing financial solutions that empower Tanzanians to improve their economic well-being.

The  anniversary celebrations under the theme “Kila Mtu Ni Watu,” reflects on the company’s contribution to improving the lives of Tanzanians since it began operations in 2021.