Mr Kombolae said the services started early this month. He said that the exercise took 19 months before it was implemented. The software needed is in place to smoothen the electronic financial transactions.
After two months the bank will officially announce the electronic services via smart phones to the public. “Customers will be able to deposit and withdraw money from their accounts and make payments through their smart phones.
This will reduce travel and other costs for our customers,” he emphasised. He explained that the new system will be accessed in the whole country and Twiga Bancorp will use its agents stationed across the country.
In a separate development, Twiga Bancorp announced that it is committed to opening up branches yearly in regions it has not yet covered. The Chief Executive Officer of the bank, Mr Hussein Mbululo said that having banking services all over the country is their focus.
According to Mr Mbululo, Twiga Bancorp will revisit its loan rates to ensure that every Tanzanian benefits from the bank. “Having in mind that we are among the fastest growing banks in the country, we are determined to ensure that we reach every corner of the country.
Currently we are in the process to start deploying the use of agents to offer our services in the areas we are yet to be established,” Mr Mbululo said.
Currently the bank’s headquarters are based in Dar es Salaam with branches in Arusha and Mwanza, with agency services in some rural areas including Bunda District where the bank has established services to cater for the Village Community Bank (VICOBA).