THE government banks on financial sector technology advancement to push up inclusion to 90 per cent in the next three years.
The country’s financial inclusion, currently, stands around 70 per cent but mostly driven by money services offered by mobile phone through sending and receiving transactions.
The Ministry of Finance and Planning Deputy Minister, Dr Ashatu Kijaji said the plan was to extend financial services to 90 per cent of population coming 2022.
“[Banks] digital technology assists a great deal to bring closer financial services to the citizens,” Dr Kijaji said during a breaking fast event organized by CRDB Bank in Dar es Salaam over the weekend.
She said CRDB financial technology (fintech) namely CRDB agents, SimBanking, Internet banking and SimAccount, as some of the innovation assisting to bring banking services near to targeting population country wide.
“This [CRDB fintech] has gone hand-in-hand with the government intention and plan to reach masses with financial services,” she said while thanking CRDB for arranging the Iftar service.
The Iftar service was led by the Tanzania’s Mufti (Chief Sheikh), Abubakar Zubeir Bin Ally. Other guest were Chief Imam of Maamul Mosque Sheikh Issa Othman Issa and children from Safina Orphanage Centre among other guests. CRDB was represented by its chair Ally Laay and Group CEO Abdulmajid Nsekela.
Dr Kijaji also commended CRDB of the recently achievement after posting an historical quarter one profit raise of 216 per cent saying this will lead to a handsome dividend at end of the year.
“As a deputy minister for exchequer responsible to oversee state treasury, I am very pleased to hear news that CRDB is making good profit,” Dr Kijaji said.
The government is one of the bank’s shareholders.