Tanzanian mobile phone operators move into financial services

The Tanzania Daily News reports on confirmation from the country’s Deputy Minister for Communications, Science and Technology, Mr January Yusuf Makamba, that four mobile phone operators have been licensed to conduct financial transaction business.

 

Tanzania's government has confirmed that four mobile phone operators have been licensed to conduct financial transaction business. (Image: File)

According to the report Tigo, Vodacom, Airtel and Zantel are licensed to offer communication and Internet services by Tanzania Communication Regulatory Authority (TCRA), but are also licensed to add financial services to their portfolios.

Mr Makamba told parliament that communication technology globally has added value to financial transaction activities.

Addressing a query over thefts perpetrated through communication facilities, including mobile phones, the Deputy Minister said the TCRA and Bank of Tanzania had agreed to conduct surveillance through the Bank of Tanzania Act.

The government also discussed the issue of telecommunication infrastructure and connectivity in rural areas. The National Assembly heard that a total of 2,175 villages have erratic or no mobile phone communication.

According to Mr Makamba in November 2011 a tender was issued for the construction of communication towers in 140 villages, with the communication relay station scheduled for placement in Lyabukande Village.

Staff Writer