Launched
in 2008, the M-Pesa service continues to grow and serve the needs of
the Tanzanian market as an affordable and reliable form of money
transfer both locally and internationally. M-Pesa is a credible
payment/transaction solution for many Tanzanians who do not have bank
accounts, says Vodacom’s Managing Director Rene Meza.
Meza
goes on to say that in a bid to ease transactions between various
businesses and their customers, the service has now gone into
partnership with various local companies. “We have partnered
with companies such as CRDB and Heritage Insurance to ensure that
Tanzanians make more use of the service and also save on valuable
time,” says Meza.
Last
week, Vodacom partnered with Heritage Insurance Company Limited to
launch a unique insurance product that provides funeral cover –
Faraja – through M-Pesa. Faraja allows M-Pesa users
to register for the policy, pay premiums and receive their cash
benefit payments through M-Pesa. This product is a world first and is
only available in Tanzania, says Meza.
Speaking
at the launch of this year’s Financial Services Week, Meza said
that approximately Tsh35billion is transacted daily through M-Pesa.
We attribute this to the fact that the service is safe and reliable
and available throughout the country.
Financial
Services Week is an annual financial literacy education campaign
aimed at empowering the un-banked segment of the population and
informal businesses with knowledge to manage their money matters with
confidence make optimal decisions and know where to source the
required financial information that suits their needs.
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