Tigo, DCB unveil agency banking service

DAR ES SALAAM: Tigo has partnered with DCB Bank to launch agency banking services aimed at boosting financial inclusion in the country.

Chief Officer of Tigo Pesa Angelica Pesha said in Dar e Salaam yesterday that the collaborative initiative represents a significant leap forward for banks aiming to capitalise on the flourishing mobile money market in the country.

“We strategically conceived Tigo Pesa’s agency banking service in response to the challenges encountered by smaller and mid-tier banks when embracing the agency banking model,” she said.

She added, “We have been managing a robust agent network for more than a decade, creating livelihood for more than 200,000 Wakalas.

With this 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,”

Ms Pesha said through leveraging the extensive Wakala network, this partnership establishes a dynamic synergy for a cost-effective and scalable Agency Banking approach.

The DCB Bank Managing Director Mr Sabasaba Moshingi said, “We are excited to partner with Tigo Pesa to expand our reach and make banking more convenient for our customers.

This partnership will allow us to provide our customers 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 to our small traders in the community, hence this collaboration will support our MSMEs and VICOBA group customers and to easily access their accounts,”

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