Airtel Tanzania, a subsidiary of Indian telecommunications company Bharti Airtel, and Tanzania Postal Bank (TPB), a Tanzania-based bank that provides financial services to people in rural areas who do not have access to traditional banks, reportedly are partnering to offer free mobile financial services to their customers. Bharti Airtel customers with a TPB account will be able to send and withdraw money, check account balances, and transfer money between accounts using their cellular phones [1]. Further information on the partnership has not yet been released.
As of year-end 2012, Tanzania Postal Bank reported total assets of TZS 167 billion (USD 106 million), a gross loan portfolio of TZS 101 billion (USD 63.8 million), total deposits of TZS 139 billion (USD 87.8 million), 631,000 customers and operations in 28 branches across Tanzania. As of August 2012, Airtel’s total assets were USD 636 billion. Airtel has approximately 261 million subscribers across 150 countries.
By Megan McGowan, Research Associate
About Bharti Airtel:
Founded in 1995, Bharti Airtel (Airtel) is an Indian telecommunications company headquartered in New Delhi, India. Airtel operates Airtel Money, a mobile money service that allows users to transfer money, pay bills and perform other financial transactions directly from their mobile phones. As of August 2012, Airtel’s total assets were USD 636 billion. Airtel has approximately 261 million subscribers across 150 countries.
About Tanzania Postal Bank (TPB):
Established in 1991, the Tanzania Postal Bank (TPB) is a Tanzania-based financial services organization that provides services to people who do not typically have access to traditional banks. As of year-end 2012, TPB has total assets of TZS 167 billion (USD 106 million), a gross loan portfolio of TZS 101 billion (USD 63.8 million), total deposits of TZS 139 billion (USD 87.8 million), 631,000 customers and operations in 28 branches across Tanzania. The number of depositors is unavailable.
Sources and Additional Resources
[1] Daily News: “Airtel, Postal Bank Partner in Mobile Banking Services,” October 23, 2013, http://www.touch.dailynews.co.tz/index.php/biz/23762-airtel-postal-bank-partner-in-mobile-banking-services
MicroCapital.org Story, “Airtel, EcoBank Partner to Provide Mobile Money Services in Africa,” October 22, 2013, https://www.microcapital.org/microcapital-brief-airtel-ecobank-partner-to-provide-mobile-money-services-in-africa/
MicroCapital.org Story, “Bharti Airtel, MicroEnsure Launch Mobile Microinsurance Service in Africa,” August 28, 2013, https://www.microcapital.org/microcapital-brief-bharti-airtel-microensure-launch-mobile-microinsurance-service-in-africa/
MicroCapital.org Story, “Tanzania Postal Bank (TPB), World Savings Banks Institute (WSBI), Bill and Melinda Gates Foundation to Launch “TPB Popote” to Reach Unbanked Tanzanians,” August 1, 2013, https://www.microcapital.org/microcapital-brief-tanzania-postal-bank-tpb-world-savings-banks-institute-wsbi-bill-and-melinda-gates-foundation-to-launch-tpb-popote-to-reach-unbanked-tanzanians/
MicroCapital Universe Profile, Bharti Airtel:
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Bharti+Airtel
MicroCapital Universe Profile, Tanzania Postal Bank (TPB):
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Tanzania+Postal+Bank+%28TPB%29
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.
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