Plans are underlay for the government to
change Tanzania Postal Bank (TPB) into a public company, to enable it improve
its services and raise capital through the Dar es Salaam Stock Exchange (DSE).
When giving directives to the Board of
Directors of the bank, during the launching of the 'TPB Popote' programme (TPB
everywhere), President Jakaya Kikwete said that the move would facilitate
re-capitalisation of the institution which is currently a public corporation.
The move is also part of the government's
strategy to boost financial institutions and enable 50 percent of Tanzanians, access
banking services by the year 2015.
At present, banks and financial institutions
have reached only 14 percent of the population, mostly in urban centres.
"Banking
services are essential to promote economic growth and it is important for the
services to reach as many people as possible," Dr. Kikwete said.
The ‘TPB Popote’ is the mobile banking
service which enables one to know and to get various information about his or
her account anywhere anytime through a mobile phone. One can also pay for
various services such as airtime, LUKU, DAWASCO, DStv, deposit and withdraw
cash from an account at any agent by using a mobile phone as well as
transferring funds from one TPB account to another.
He said efforts should be made to enhance
the people's access to banking services from the current 14 percent, pointing
out that the continent's average stood at 23 percent.
“The banks should also focus on rural
communities as well, particularly millions of farmers who need to access
various services, including loans,” Dr. Kikwete said.
SOURCE: Corporate Digest
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