Airtel announces new loan facility for firm’s customers

By Katare Mbashiru ,The Citizen Reporter

IN SUMMARY

Minister for Communications, Science and Technology, Prof Makame Mbarawa, who graced the launching ceremony said the government would intensify access to financial services across the country targeting to reach over 50 per cent by 2016.

Dodoma. Mobile phone service provider Airtel, yesterday launched yet another service aimed at giving customers access to quick loans on their mobile phones through Airtel Money.

The service known as ‘Timiza’ aims to provide short-term credit facilities to Airtel customers, according to managing director Sunir Colaso, who said the loans could be repaid between seven and 28 days.

Minister for Communications, Science and Technology, Prof Makame Mbarawa, who graced the launching ceremony said the government would intensify access to financial services across the country targeting to reach over 50 per cent by 2016.

Timiza, literally meaning achieve, a new service in Africa and across the world will offer customers access to short-term credit facilities and has been launched in partnership with Pan-African Credit provider (AFB). According to the minister, access to financial services is still limited despite the increasing number of banking institutions. BoT statistics show that currently at least 52 banking institutions operate in the country.

Only 14 per cent of Tanzanians, however, make use of the institutions. But the minister said efforts were being made by the government to improve the sector to actively contribute to economic growth. He said the Airtel service will offer a platform for small and medium enterprises to expand. “By 2005, we had 2.6 million mobile phone users and 3.4 million internet users; the number has tripled to 8.4 million,” he said.

and 9.6 million respectively,” he said. The minister noted that the government was implementing an inclusive plan to increase access to financial services especially among farmers, fishermen and livestock keepers
.