Stanbic Bank Tanzania through its special product offering for small and medium enterprises (SMEs), Biashara Direct, aims to improve the efficiency of businesses by providing a convenient, hassle-free banking experience.
In a statement issued by the bank in Dar es Salaam recently, the bank’s Head of Enterprise Banking, Farha Mohamed said, “we are excited about our Biashara Direct offer which simplifies the banking process through digital solutions for SMEs, including a dedicated business banker to assist enterprises with financial advice via phone or email. Our product now offers USSD payment solutions through all mobile phones making it accessible to a bigger population and, with a Swahili language option which allows our clients to transact in their ideal language”.
Elaborating on the new feature of the product, Ms. Mohamed explained that the USSD product has been upgraded to accommodate accounts with multiple signatories to transact with the maker/checker functionality.
The bank’s tailor-made offering provides convenience for SMEs to transfer funds, pay bills and monitor the activities on their accounts allowing them to focus on running their businesses – “we are committed to empowering financial success of the SME sector in Tanzania through our Biashara Direct product” Farha added.
As the country embarks on its industrialization drive, the development of the SME sector continues to play an important role towards attainment of the Tanzania Development Vision 2025. To this end, Stanbic Bank is committed to making progress real for actors in the SME space as demonstrated by its recent win of Tanzania’s ‘Best SME Bank’ by the Banker Africa awards.
About Stanbic Bank Tanzania
Stanbic Bank Tanzania is part of the Standard Bank Group, the largest African bank by assets with its headquartered in Johannesburg, South Africa and listed on the Johannesburg Stock Exchange, with share code SBK, and the Namibian Stock Exchange, share code SNB. Standard Bank has a 155-year history in South Africa and started building a franchise outside southern Africa in the early 1990s.
Stanbic Bank Tanzania provides the full spectrum of financial services. It’s Corporate and Investment Banking division serves a wide range of requirements for banking, finance, trading, investment, risk management and advisory services. Corporate and Investment Banking delivers this comprehensive range of products and services relating to investment banking; global markets; and global transactional products and services.
Stanbic Bank’s corporate and investment banking expertise is focused on industry sectors that are most relevant to emerging markets. It has strong offerings in mining and metals; oil, gas and renewables; power and infrastructure; agribusiness; telecommunications and media; and financial institutions.
Stanbic Bank Tanzania’s personal and business banking unit offers banking and other financial services to individuals and small-to-medium enterprises. This unit serves the increasing need among Tanzania’s small business and individual customers for banking products that can meet their shifting expectations and growing wealth.
For more information please contact;
Ag. Head of Marketing and Corporate Affairs
Phone: +255 022 219 6382