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4-Traders Homepage  >  Shares  >  DAR ES SALAAM STOCK EXCHANGE  >  CRDB Bank PLC    CRDB

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CRDB Bank : Enhances Agency Services

07/22/2015 | 04:12pm US/Eastern

CRDB Bank partners with Maxcom Africa to offer banking services to those left out of the financial band using the latter agents.

Under the agreement signed in Dar es Salaam yesterday, CRDB announced Maxicom Africa as its agency bank super dealer under the FahariHuduma flagship.

CRDB's Managing Director, Dr Charles Kimei, said the move behind the agreement is to bring closer and increase banking services to the society.

"Overtime we discovered that we cannot reach many using mortar and brick branches, we decided to reach the masses using alternative services," Dr Kimei said.

He said among the alternative services are ATMs, Simbaking, Internet banking, PoS and now agent banking-which is picking up at pleasingly pace.

CRDB, a listed company, said to start with are staring with 200 out of the current 10,000 MaxMalipo PoS and increase then gradually as BoT continue with the certifying exercise.

"This will automatically increase our FahariHuduma agents to 1,800," Dr Kimei said.He added: "BoT is continuing to certify (MaxiMalipo agents) since they are dealing with people's money. This is normal procedure."

The CRDB Senior Manager Agent Banking, Ms Jessica Nyachiro, said FahariHuduma services have covered 80 per cent districts and expect to reach all districts by the end of this year.

"The number of transactions handled by FahariHuduma has reached 1.5 million while deposits are 594bn/-," Ms Nyachiro said. The agents are expected to reach 5,000 in the next two years.

Maxicom Africa Managing Director, Mr Juma Rajabu, said at the moment MaxMalipo agents are making 700,000 transactions per day.

"We are very glad to partner with the biggest bank, which leads in innovation in the country and together we will assist to increase the financial inclusion in the economy," Mr Rajabu said.

At the moment there are some 10,000 MaxMalipo agents and coming the end of this year the firm targets to have 18,000 agents. MaxMalipo PoS enable one to make electronic payment services simple, safe and easy for paying electricity, water and decoders bills. Also agency banking services and purchase of recharge vouchers and mobile phone transactions.

Also Maxcom Africa with a branch in Rwanda, offers a customised platform for customers to organise and track their businesses.

Copyright Tanzania Daily News. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

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