Tanzania’s bankcard switch organization Umoja has inked a deal to accept China UnionPay cards at all ATMs that subordinate to Umoja. This will raise UnionPay cards acceptance coverage at the local ATMs from 30% to 50%. Both companies mention Tanzania and China have entered into intimate cooperation in fields such as infrastructure construction, communications, consumer…
Tanzania’s largest bank launched its range of MasterCard debit cards, including the Tanzanite, Titanium and the first World Rewards card in the country.
WorldRemit online money transfer service customers can now send remittances to Zantel EzyPesa accounts. The addition of EzyPesa means that WorldRemit now offers transfers to two of Tanzania’s four Mobile Money services. Customers can also send money to friends and family using Tigo Pesa. Tanzania is one of nine countries in the world where Mobile Money accounts outnumber bank accounts. WorldRemit already sends 25x more transfers to Mobile Money in Tanzania than to banks, even before the launch of EzyPeza.
Millicom international telecommunications and media company announced its Tigo operation in Tanzania has launched the world’s first mobile money service which offers users the opportunity to automatically earn a return on their balance direct to their wallet without the need for a separate registration. The service in Tanzania is called Tigo Wekeza (“Tigo Invests”), and will allow over 3.5 million Tigo Pesa users to benefit from quarterly payments based on the balance held in their account. Tigo Pesa users in Tanzania will also have the option to nominate a non-profit beneficiary, in line with their personal cultural belief.
WorldRemit customers can now choose to have the funds delivered to a Tigo Pesa mobile wallet. Complementing existing receive options such as bank transfer, cash pickup and mobile airtime top-up, WorldRemit is an online service that allows people to send money around the world quickly and at low cost, using a computer, smartphone or tablet. Migrants from Tanzania sent US$75m back home in 2013, according to the World Bank while remittance payments to Tanzania from overseas have more than doubled since 2008.
Western Union and Vodacom Tanzania partnered to allow consumers to visit one of more than 108,000 participating Western Union Agent locations in 65 countries worldwide and send money directly into the mobile wallets of any “Vodacom M-Pesa” subscriber. Western Union continues to offer choice and convenience to consumers worldwide, and its mobile money transfer program allows people to send and receive funds how, where and when they want. The “Vodacom M-Pesa” first launched in 2008 and now has more than 9 million customers and handles more than a million transactions per day. It offers an affordable, fast, convenient and safe way to pay for numerous services.
Operation HOPE (HOPE) Founder John Hope Bryant travels to Tanzania to participate in the 2010 World Economic Forum on Africa and the 7th Annual Young Global Leaders Summit. This year’s gathering centered on “empowering change” and focuses on reinforcing the three pillars of the YGL community: community building, generating insight and undertaking collective action.
Noted for his recent bestseller LOVE LEADERSHIP, Bryant was tapped to lead discussions that focused on “The Role of the Private Sector in advancing high quality education in Africa.” YGLs specifically looked at the lack of funding public schools receive in Africa and searched for ways that the private sector can help support them. Operation HOPE is America’s leading nonprofit social investment banking and financial literacy empowerment organization. With more than 400 private sector partners, 3500 nonprofit organizations and schools, and 100 government partners in 69 major U.S. cities and six provinces in South Africa, HOPE has raised more than $500 million in its pursuit of educating, assisting and inspiring the next generation of global stakeholders in financial literacy, economic empowerment and silver rights.