DAR ES SALAAM: In a groundbreaking move to promote financial inclusion, National Bank of Commerce (NBC) has launched a revolutionary agency banking service that allows customers without a bank account to transfer money using only their national Idenity Cards (IDs).
Dubbed ‘NBC Wakala Pesa,’ the innovative product, is part of the bank’s commitment to empower underserved communities across Tanzania.
The product’s launch event took place at the bank’s Chief agent office in Manzese area, Dar es Salaam, attended by a host of NBC officials, showcasing the efficiency and ease of the new service.
Among the key speakers were NBC’s Director of Retail Banking, Elibariki Masuke, along with the bank’s Agency Banking Manager, Ms. Jacquilene Sindano, and the bank’s Chief Agent, Mr. Frank Maningi, who shared their insights on the transformative impact of the new initiative.
He added: “At NBC, we recognize that access to financial services is a fundamental right for all Tanzanians, regardless of their socioeconomic status,” said Masuke.
“Our agency banking service is designed to break down the barriers that have long excluded millions of our fellow citizens from the formal financial system.”
According to Masuke, the ‘NBC Wakala Pesa’ service allows customers to deposit, withdraw, and transfer funds through designated NBC agents, without the need for a traditional bank account, just by using their national IDs and the Zanzibar Residency ID for those staying in the Isles.
He said the revolutionary approach simplifies the process, empowering even the most marginalized members of society to participate in the financial ecosystem.
“The launch of this service is a testament to NBC’s unwavering commitment to financial inclusion,” added Ms. Sindano.
She further said:”By leveraging our extensive network of agents across the country, we are bringing banking services directly to the doorsteps of those who have been historically underserved.”
During the event, customers had the opportunity to experience the service firsthand, expressing their enthusiasm and appreciation for the newfound convenience. “I’ve always been hesitant to open a bank account due to the complicated procedures,” said Fatuma Ally, a local resident.
“But with this agency banking service, I can now manage my finances with ease and without the burden of maintaining a traditional account.”
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Mr. Frank Maningi, the bank’s Senior Agent, highlighted the transformative potential of the initiative. “This service is a game-changer for our community. It provides a safe and accessible avenue for people to participate in the formal financial system, empowering them to save, transact, and plan for their future with confidence.”
The launch of the ‘NBC Wakala Pesa’ banking service marks a significant milestone in the country’s financial inclusion landscape.
By removing the barriers to entry and leveraging its extensive agent network, the bank is spearheading a movement to ensure that every Tanzanian, regardless of their background, has the opportunity to access and benefit from the formal financial system.
