Target rural areas, financial institutions urged

Dar es Salaam. Financial institutions have been to provide more services to rural areas.

“Rural people are mainly engaged in agriculture and there is no economic development if agriculture is left behind. Therefore, rural people shouldn’t be neglected," Finance and Planning deputy minister Ashatu Kijaji told a financial inclusion conference here on Friday, February 16.

According to her, although Tanzania is ranked highly in Africa in providing financial services, many rural people are excluded.

 The event, themed ‘Driving financial inclusion through digital solutions; implication for sector players’, has been prepared by Finca Microfinance Bank.

However, Dr Kijaji spoke about remarkable achievements since the national financial inclusion programme was launched in 2014.

She said the second phase of the programme aimed at reaching more people.

According to her, financial services have risen from 58 per cent during the launch of the programme to 85 per cent at present.

She emphasised the importance of financial institutions to provide services that customers needs.

 She said mobile companies were doing well in that aspect.

"The implementation of this programme will not be meaningful if it does not change the people’s lives. It will not be meaningful if the people are unemployed. Let's make it a success."

Finca Tanzania chief executive Issa Ngwegwe said digital technologies were catalysing financial inclusion.

"Digital platforms such as mobile and agency banking are key in reducing the cost of reaching millions of unbanked Tanzanians. Partnerships with mobile network operators show great potential to scale financial services more efficiently."