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DAR ES SALAM, TANZANIA: Ecobank Tanzania is on the verge of launching its mobile banking services to enable customers access banking information using their mobile phones, an official said on Thursday in Dar es Salaam. Mr Andrew Lyimo, Head of Product and Marketing at Ecobank said the service was part of the group’s plans to reach low and middle income customers.
Finance experts in the East African nation say paying transport fares to bank branches to access vital information relating to bank accounts in one of the major deterrents of low and middle income citizens in using bank services.
The ability to access bank account information on mobile phones from anywhere has brought many unbanked people on board, according to a recent report from the country’s finance ministry. “Ecobank’s mobile banking will go with opening more branches to meet the unbanked population who are mostly up countries,” Lyimo said.
The mobile money sector in Tanzania is dominated by Vodacom’s M-Pesa, which records more than half a billion dollar transaction every month.It currently has nine million customers and 25,000 agents across the country.
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