MAENDELEO BANK PLC, AIRTEL MONEY AND FSDT PARTNER TO LAUNCH TIMIZABIASHARA CAMPAIGN

Dar es Salaam, 13 February 2020; Maendeleo Bank PLC has partnered with Airtel Money and the Financial Services Deepening Trust (FSDT) to launch a TimizaBiashara campaign which is aimed at supporting small businesses in the form of small groups commonly known as Vicoba to save and borrow money digitally.Maendeleo BankManaging Director Dr Ibrahim Mwangalaba said that by partnering with Airtel Money the bank is happy to introduce the TIMIZA BIASHARA Campaign to small scale businesses entrepreneurs in the country. ‘This service is aimed fulfilling your business requirements and bring solutions to challenges which small scale business, entrepreneur’s and Vicoba groups have been facing in terms of savings and borrowing money.

TIMIZA BIASHARA through TIMIZA VIKOBAplatform under Airtel can now save and borrow without even meeting or visiting a bank branch’, Mwangalaba said.He added ‘by use of Airtel network, you create a group and then lead the group members anywhere in the country without the need of meeting in one place in order to get services. The group members can then decide on when to make their savings, loan durations and when they will be making loan payment’, said Mwangalaba adding that this making the low medium group earners to acquire skills on digital financial services.

We are thanklful to FSDT who funded the Campaign with the aim of scalling up financial inclusion agenda in the country with the aim of promoting easy access to finance for small business community in the country. Airtel Money is our longtime partner in this product whom their strong network coverage enables business community to access financial services without physically vising bank branch, Mwangalaba concluded.

Speaking today in Dar es Salaam, Airtel Tanzania Director of Airtel Money services Isack Nchunda said that TimizaVicoba, which its Campaign ispart of the campaign known as TIMIZA BIASHARA is designed for entrepreneur’s and business people who will be forming a group of between 5 and 50 and thereafter can start saving and borrowing money through Airtel Money.

The aim of launching TIMIZA BIASHARA CAMPAIGN is to sensitize Tanzanians on the importance of savings behavior and especially to the small-scale businesses. In addition, with Airtel Money platform now available all over the country, we are promoting financial inclusion to reach the 80% of the unbanked population in the country. ‘We will also provide business education to the low and medium income earners and importance of going digital inform of savings and borrowing’ Nchunda said.

On his part, Financial Services Deepening Trust (FSDT) xxxx said that FSTD who is the key financier of the TIMIZA BIASHARA marketing campaign. ‘Since the establishmentof FSDT in the country, FSDT has been providing a leading role in scalling up financial inclusion agenda in the Country and especially to the most unbanked population in the villages.

We understand the long procedures Tanzania undergo in order to get loans through financial institutions. However, with TimizaVikoba innovation, you only need to start savings as little as you can, then start borrowing digitally.

He added that the TIMIZA BIASHARA is aimed to solving challenges the small groups has been experiencing when they need to borrow money and in addition is expanding financial services to all Tanzanians. I therefore call upon small-scale business, entrepreneur’s and Vicoba groups to make advantage of this TIMIZA BIASHARA in order to grow their businesses.