TTCL and PBZ  enter  into   partnership   

01Mar 2019
The Guardian Reporter
The Guardian
TTCL and PBZ  enter  into   partnership   

THE Tanzania Telecommunication Company Limited (TTCL) has entered into   partnership with People’s Bank of Zanzibar (PBZ) to allow customers of the two organisations to send and receive money through their mobile phones.

Tanzania Telecommunication Company Limited (TTCL)

Speaking during signing ceremony here, TTCL head of mobile financial services said Moses Alphonce called upon T-pesa customers to utilise the services assuring them that it was easy and safe.


He said the move represents a partnership of strength between TTCL and PBZ noting that the mobile money deposit and transfer service will significantly contribute to the social and economic well-being of Tanzanians.


“We’re very much happy to sign this partnership agreement which is going to benefit   our customers. We aim to transform the daily financial needs of our people to be,” he said.


According to him, the available companies make only 4 per cent of funds in the country to circulate in digital system leaving the 94 per cent of funds circulating in cash system.


TTCL Pesa entered the mobile money market last year and had a paltry 3,135 subscribers from its 429,735 users.


For his part, PBZ executive director Khadija Shamte Mzee described the new service which integrates banking and mobile financial services as an innovation designed to improve the lives of customers of the two companies.


“Our plan is to integrate financial services with other sectors of the economy in the country so that at the end of the day bank account holders will no longer need to go to a branch to deposit or withdraw funds,” she said.