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NMB and Tigo Pesa launch cash deposit and withdrawal service through mobile phone

Today 12th February, 2014, Tigo and NMB, two leading Tanzanian commercial firms in telecoms and banking industries respectively, have today launched an innovative service that enables customers of both NMB bank and Tigo Pesa services to deposit and transfer funds from their Tigo Pesa wallet to their bank account and from their bank account to Tigo Pesa through mobile phone.

NMB Ag.CEO and Chief Risk Officer,Tom Borghols (center) and Tigo Pesa Commercial Manager,Ruan Swanepoel sighn a partnership contract which will enable NMB and Tigo customers to make any transaction from their NMB account to Tigo Pesa services and from their Tigo Pesa wallet to their bank account through a mobile phone conveniently.Witnessing is NMB Head of Personal Banking, Abdulmajid Nsekela.

The launch ceremony was held at a hotel in Dar es Salaam where the executives from both companies, Mr Ruan Swanepoel - Tigo Pesa Commercial Manager and Mr Tom Borghols- NMB Ag. CEO and Chief Risk Officer 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.
Mr. Tom Borghols said "This extended cash deposit and transfer channel will enable around 1,000,000 customers registered with NMB Mobile to utilise Tigo Pesa agents to deposit or transfer directly into their bank accounts wherever they are.

There are more than 20,000 active Tigo Pesa agents countrywide according to the company Commercial Manager found in all parts of the country, Pemba and Zanzibar included.
Borghols said the new service represents "a partnership of strength" between Tigo and NMB noting that the art to do mobile money deposit and transfer service will significantly contribute to the social and economic wellbeing of Tanzanians in both urban and rural areas. 

On his part, the Tigo Pesa Commercial Manager said integration of mobile financial services with NMB banking services is part of the company's goal "to provide access to banking and mobile financial services to as many Tanzanians as possible."
"Our plan is to integrate our mobile financial services with other sectors of the economy in the country so that at end the of day bank account holders will no longer need to go to a branch to deposit or withdraw funds, but do it directly from their Tigo Pesa wallet ," Mr. Swanepoel said.

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