Launched just under two years ago, through a partnership with Airtel, Letshego Bank Tanzania and financial technology company JUMO, Timiza Akiba is Tanzania’s first fee-free, interest-bearing mobile money savings account. With the initial aim to drive a savings culture among the people of Tanzania and help them reach their business or personal financial goals, the dynamic partnership is showing signs of sustained success.
Timiza Akiba allows Airtel customers to set up a savings account and save any amount from TSH 100 up to TSH 5 Million directly from their mobile phones, without having to handle cash or travel to a bank. The funds are managed by Letshego Bank Tanzania and those customers who manage to avoid spending their savings, receive a monthly sum as a reward for their commitment towards reaching their financial buffer, or goal. Timiza Akiba’s reward is calculated as a percentage of total savings on a balance of any size, and supports national government mandates to encourage and support the growth and development of the local savings culture. Withdrawals are, however, accessible and available at any time with no transaction costs, in the event of an unexpected expense or emergency. Timiza Akiba is available to all Airtel Tanzania customers, and accessible via Airtel’s Money Menu, simply by dialling *150*60#, then selecting 6, 1 and 3.
No comments:
Post a Comment