GTB launches six-month moth for children

17Jan 2019
Francis Kajubi
Dar es Salaam
The Guardian
GTB launches six-month moth for children

GUARANTY Trust Bank Tanzania yesterday launched a six-month promotion dubbed; Smart Kids Save promotion (SKS), which is aimed at easing financial pressure with a relief to parents’ burden on school fees.

GT Bank Managing Director Jubril Adeniji (R) briefs journalists in Dar es Salaam yesterday when he announces the bank new promotion dubbed “Smart Kids Save (SKS)” a chance to win one term school fees of up to 3m/- for lucky children who have SKS account with the bank. He is flanked by the bank Head of Business Development Kelvin Mkwawa. Photo: John Badi

Speaking at the launch bank’s managing director, Jubril Adeniji, said that the promotion is for children, whereby three lucky winners stand a chance to win one term school fees of up to 3million/-. 

“To participate in the promo that would lead to a draw needs one to open an SKS Account with GT Bank that has maintenance of 500,000/- for six months,” the bank official said.

In another development, Adeniji said his bank has issued over 2billion/- as loans to its customers being individual and companies in the first year of its operations in Tanzania.

He said the bank finds its own space to cater with the banking industry floated with more than 40 commercial banks.

“We have remitted the 2billion/- as of 31st December last year. With Tanzania having a population of 54 million with the youth lagging behind in financial inclusion we find an opportunity to engage them more especially through digitization.

With growing working class, increased number of small and medium entrepreneurs and agricultural activities we see the future with GT Bank in Tanzania,” said Adeniji.

 

According to Financial Sector Deepening Trust 2017 FinScope findings, youth are financially excluded by 48 per cent due to lack of collateral, financial know how and identification documents.

Adeniji also revealed that as of last December it has accumulated deposits amounting 6.5billion/- from 1500 customers, out of which 100 companies and the rest are being individuals.

He suggested on private sector and public sector collaboration in improving liquidity especially for emerging new markets.

“Tanzania needs to welcome in more new banks and encourage their growth so as a common banker can have options that could lead to total satisfaction. I can see not more than five banks dominate the share of the banking business, this is not quit healthier as consumers need to realize effective competitions that can turn into benefiting them through choices,” he added.

He asserted that more skills and innovative measures were mostly needed to be employed by bankers to survive the competition as the industry goes digital.      

Guaranty Trust Bank Tanzania is a subsidiary of Guaranty Trust Bank Plc a proudly African and truly international commercial bank with a presence in London, United Kingdom as a full-fledged commercial bank and ten Arican countries; Code D voire, Gambia, Ghana,Kenya,Liberia, Nigeria, Rwanda, Uganda, Sierra Leone and Tanzani. GT Bank Plc shares are listed on the Nigerian sytock exchange and main market of London Stock Exchange.

 

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