Tanzania: Digital Financial Inclusion to Boost Industrial Economy

Print
 
Jul 2017
Tanzania, July, 26 2017 - Digital financial inclusion for country's farmers has been cited as catalyst to boost agricultural production which could in turn facilitate envisaged industrialization in the country.

This emerged yesterday during the signing of Memorandum of Understanding (MoU) between the Halotel Tanzania and Mercy Corps AgriFin Accelerate to cement partnership to enable farmers in rural areas use mobile transaction to boost production.

The partnership would see the two companies create awareness and enable the farmers benefit from loans and saving through digital channels. The move was termed as a great endeavor since the bank services largely available in urban areas, thus locking out the farmers in the villages.

Tanzania is currently experiencing transition towards industrialization and has a robust digital financial services (DFS) market with a competitive market structure and major advances in interoperability.

"In order to make the goal of industrialisation a reality we must among other things seek to improve the agriculture sector, currently dominated by smallholder farmers, with innovative solutions," said Mr Paul Kweheria, the country director of the Mercy Corps' AgriFin Accelerate programme.

He said in making the project work, they would be also partnering with banks, agribusinesses and other ecosystem stakeholders who wish to expand delivery of services through Halopesa.

Managing Director of Halotel Tanzania, Mr Le Van Dai, said the project was a huge step towards supporting the government and promise to continue collaborating with other stakeholders through providing technological solution to farmers so as to cope with the current situation.



Source : All Africa
 

Research Analysis Tools

The fund indexes, institution benchmarks and other market information displayed here are all Symbiotics designed analysis tools, created in-house by our analysts and experts. Symbiotics has one of the oldest track records in microfinance investment analysis dating back to the late 1990s; its indexes and benchmarks have been regularly used as markers by investors, asset managers, financial institutions and practitioners. These, as well as several other research products, are available through the Research Account. Click on the link below to find out more.

Learn More