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Wednesday 25 October 2023

STANBIC COMMITS TO PROMOTE FINANCIAL INCLUSION

Head of Public Sector at Stanbic Bank, Ms Doreen Dominic, speaks during the opening of the Civil Society Organisations (CSO) week on Monday.
Stanbic Bank Tanzania Head of Global Market Sales, Ms. Amal Baziad, speaks during a plenary seesion in the on-going CSO week in Arusha, on Tuesday.

Arusha, Tanzania, 24th October 2023 - Stanbic Bank Tanzania reaffirmed its commitment to promoting financial inclusion within Tanzanian communities during the Civil Society Week that is being held at the AICC from 23rd October to 27th October, 2023. This year's theme of, "Tech X Society: Then, Now, and Beyond," closely underlines the bank's dedication to advancing and improving society through innovative financial solutions.

Doreen Dominic, Head of Public Sector at Stanbic Bank Tanzania, inaugurated Civil Society Week with introductory remarks underscoring the bank's dedication to empowering Tanzanian citizens and driving economic growth through financial inclusion, innovation, and literacy. She emphasized the pivotal role of technology in improving people's lives, stating, “We firmly believe in the symbiotic relationship between technology and society, particularly in the context of advancing financial inclusion. At Stanbic Bank, we provide tailored solutions not only for established and high-powered Tanzanian businesses but also for the public sector, non-commercial entities, and youth and women-owned SMEs, ensuring that no one is left behind.”

In a panel discussion exploring technology's potential to revolutionize financial inclusion, the bank presented insights into how digital innovations can bridge economic disparities and empower historically underserved communities like youth and women SMEs. Currently, the Stanbic Biashara Incubator unit facilitates the success of youth and women in entrepreneurship and innovation. Furthermore, the bank highlighted its strategic partnerships, such as EduFinance with Opportunity International and USAID, exemplifying the bank's dedication to advancing society.

Stanbic Bank Tanzania services are also aligned seamlessly with the civil society movement, through their support for non-profit organizations, partnerships with key development actors and their Corporate Social Investment initiatives in education, health and their wakala footprint to enhance financial inclusion.

The bank currently holds the fourth position in the nation's banking sector by assets and customer deposits, a testament to its unwavering mission to empower society and drive nation-wide growth. The bank aims not only to be a leading financial institution but also an enabler and catalyst for positive change and economic transformation.

The symposium was organized by the Foundation For Civil Society in collaboration with various civil society, private sector stakeholders and other development players. Together, they called upon all actors in the Tanzanian landscape to embrace the synergy of technology and society, working collaboratively to create a more inclusive and equitable future. Stanbic Bank Tanzania is steadfast in its commitment to being a partner on this journey towards a brighter and more inclusive tomorrow.

For further understanding of Stanbic Bank Tanzania offerings, access our ChatBot AI named Kai via whatsapp +255742000636 or Stanbic Bank website www.stanbicbank.co.tz.

Stanbic Bank Tanzania's Kai is more than just an AI-powered chatbot; it represents a leap into the future of banking. By prioritizing customer convenience, personalization, security, and operational efficiency, Kai sets a new standard for customer service in the banking industry. As other financial institutions take note, it becomes evident that the marriage of technology and customer-centricity is the way forward. Stanbic Bank's Kai serves as an exceptional example of how AI can transform customer service and is undoubtedly a welcome addition to the world of banking and financial inclusion.

About Stanbic Bank Tanzania

Stanbic Bank Tanzania Limited is a full service commercial bank which specialises in providing facilities and services to public and private sector corporations, diplomatic missions and international organizations. Stanbic Bank Tanzania is a member of the Standard Bank Group of South Africa and was established in May 1995 when the Standard Bank Group acquired the operations of Meridien Biao Bank Tanzania Limited.

For more information, contact:

Annette Nkini, Stanbic Bank Tanzania, Reputation, Brand Engagement & Communications Manager

Email: annette.nkini@stanbic.co.tz

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