Raha Liquid Telecom’s acting CEO, Peter Ngota said the company has all facets of ICT products, modern technology equipment and data centres with world class servers located in the country to meet Central Bank needs.
“We recently heard Bank of Tanzania penalise banks which have their databases abroad contrary to regulations, at Raha Liquid we have the solution to address such banking needs,” Ngota said while noting that the company has cloud service solutions to allow banks with countrywide branches to be connected.
He said Liquid Telecom which is present in 13 African countries and acquired Raha in 2017 is a Microsoft trusted partner in Africa with state-of-the-art data storage and communications facilities through satellite and fibre cables.
“As we move towards industrialization ICT is an important aspect of development if we are to speed up progress through digitization,” Ngota who is Raha Liquid’s Head of Sales added.
Backing Ngota’s observation, the company’s Solutions Manager, Amani Kidava and Marketing Executive, Haji Said said Raha Liquid is an official gold partner of US based Microsoft Inc hence provides reliable communication and data storage facilities.
“We have all the solutions to meet the banking industry’s needs in compliance with Bank of Tanzania regulations that require that bank’s servers be hosted in the country,” said Said who further noted that local servers are backed by data centers based in Nairobi, Kenya, Cape Town and Johannesburg in South Africa.
“We also have three satellite hubs to back the fibre optic system which accounts for about 65 percent of our communication system,” Said added. Backing his peer, Kidava said banks have several options to choose from including enterprise solution which is very convenient.
“We also provide Vsat facilities through our partners to provide services in remote areas such as tourist hotspots, mining and gas extraction areas,” Kidava said while assuring local companies that Raha Liquid is their trusted partner in business.
Last August, Bank of Tanzania’s Deputy Governor in charge of Financial Stability and Deepening, Dr Bernard Kibesse said in a circular that banks have three months to comply with regulations which require them to put in place primary or secondary data centre in the country.
“Any bank or financial institution which will be found not to have complied with the above requirements, shall be liable to a penalty of 5bn/-,” the circular said.
Dr Kibese said the central bank will conduct inspections on the status of lenders on the new data centre rules seven days after the issuance of the circular. “Every bank or financial institution must establish a data centre within three months from the date of the circular. Any institution found not compliant will be fined 500m/- per month until it complies,” the circular warned.
BoT had issued three previous circulars to banks and financial institutions since 2014 on the requirement for data centres to be located in Tanzania instead of on servers abroad, but some lenders were yet to comply.
It said that last month it had fined Diamond Trust Bank Tanzania Limited 1bn/- for breaching regulatory rules on data and service availability. The government has tightened regulatory oversight over commercial banks and other financial institutions over the past few years.