EQUITY BANK (T) AND POSTAL SIGN MOU FOR USING POSTAL OUTLETS TO PROVIDE BANKING SERVICES

Dar es Salaam, Thursday 11 October 2021. Equity Bank (T) has signed a Memorandum of Understanding with the Tanzania Postal Corporation to use the Corporation’s facilities
provide its banking services in form of Super Agents, a move geared to bring banking services closer to its customers and Tanzanians in general.

Speaking at the signing ceremony in Dar es Salaam, Equity Bank CEO Robert Kiboti said that through a network of Post Office Offices in the country, Equity Bank will be able to reach thousands of citizens across the country and provide them with better and affordable financial services. “This move will increase the scope of our service delivery network and enable us to include more Tanzanians. Equity Bank mission is to provide affordable banking services to majority of Tanzanians for economic empowerment. Currently Equity Bank has about 3,900 agents’ country wide, and thus joining hands with Tanzania Postal Corporation that has more than 322 outlets countrywide will guarantee reaching our entire customer base and future prospects. To begin with, we will start with 35 stations in areas like Karatu, Namanga, Tegeta, Geita, Iringa Urban, Mafinga, Bukoba, Katavi, Kasulu, Rombo, lindi, Babati, Tarime, Njombe, Rukwa, Makambako, Chalinze, Sumbawanga, Songea, Nzega, Singida, Tanga and Pemba that we did not have presence.” he said.

Under the new deal, Equity Bank customers can open bank accounts, the normal customer cash in and cash out, facilitation of account origination, bill payments, facilitating loan application origination, issuance of prepaid and express cards, balance inquiry and Mini statement , Fund transfer, Float replenishment for agents and International Remittance receiving through TPC branches.

For his part, the TPC acting Poster master Macrice Mbodo said “We are proud to be able to partner with Equity Bank in achieving this initiative that will help bring banking services to more Tanzanians. Apart from opening doors for banking services as Super-Agent, we will also be doing the Bank’s couriers services and assist in collecting Government levies’ he said.