Press Release

Airtel, Letshego and JUMO partner to encourage savings culture with Timiza Akiba.

Dar es Salaam, Tanzania - Thursday 30 August 2018 - Airtel customers can now access saving products and services at their fingertips, thanks to a dynamic partnership between Airtel Tanzania PLC, Letshego Bank Tanzania and technology provider, JUMO Tanzania Services Company Ltd.

Timiza Akiba, a mobile money savings solution, is now available to all Airtel Mobile Money customers. This is an easily accessible, fee-free savings solution that offers customers a monthly sum as a reward for saving towards a financial buffer, or goal, instead of spending their hard-earned cash. The reward is calculated as a percentage of total savings on a balance of any size, ultimately encouraging and supporting the growth and development of healthy savings.

This three-way partnership aims to make saving easy and profitable for customers with competitive interest payments and incentivised rewards for those who avoid withdrawing from their savings. The mobile saving wallet is available to all Airtel Tanzania customers, and accessible via Airtel’s Money Menu, simply by dialling *150*60#

Savings and rewards start with as little as TSH100
Customers can begin by saving as little as TSH100 with Timiza Akiba and will be rewarded every month if they don’t withdraw. With the Timiza Akiba ‘fee free’ approach, what you save is what you get! Whatever customers can afford to save is kept intact and not reduced by fees and costs. This dynamic offer is in line with Airtel, Letshego and JUMO’s collaborative commitment to using innovation and technology to increase financial inclusion for all Tanzanians.

Isack Nchunda, Head of Airtel Money at Airtel Tanzania, said, “We are excited to be providing more services to our customers, some of whom will be saving with confidence for the first time. We wanted to make it as easy as possible for people to make greater use of financial services that respond to their lives, and that will help them to plan for the future.”

Customers who choose to save rather than spend will be rewarded every month. Knowing how difficult it is to save in today’s costly living environment, Timiza Akiba helps Tanzanians to save for those rainy days, unforeseen expenses or to build a brighter future in a more structured and secure way.

Timiza Akiba – convenient, safe and affordable
Timiza Akiba is convenient and secure, keeping customers’ money safe – but it’s also affordable, and accessible wherever customers may be located. Customers’ savings are securely held by Letshego Bank – part of the wider Letshego Group with operations across Africa – and also regulated by the Bank of Tanzania.

Thabit Ndilahomba, CEO of Letshego Bank Tanzania, said, “Timiza Akiba is the outcome of a truly financially empowering partnership which speaks directly to Letshego’s brand promise to Improve Lives. Strategic partnerships remain key to Letshego’s strategy across all 11 markets where we operate in Africa, and Tanzania is no exception. Together with Airtel and JUMO, we look forward to growing the discipline and benefits of saving for all Tanzanians, wherever they may be located.”

The partnership between Airtel, Letshego and JUMO Tanzania has relied on the work of JUMO at a global level to bring together mobile money and the wider range of financial services for Tanzanians from all backgrounds.

JUMO Tanzania’s Rwebu Mutahaba, said, “Our mission at JUMO is to provide more advanced and useful financial services to people who have sometimes found it hard to make use of the conventional banking services, building platforms which unlock value for the customer. Timiza Akiba is just one example of what can be achieved when we set out to deliver real value to real people by increasing their access to financial services.”

For further information, please contact:

Airtel Tanzania
Jackson Mmbando – PR & Corporate Communications
jackson.mmbando@airtel.co.tz
+255 786670120

Letshego Tanzania
Silvester Mhilu – Senior Officer, Marketing and Communication
SilvesterM@letshego.com
+255 718611748

JUMO
Communications & Brand Team
Comms@jumo.world

 


 

About Bharti Airtel Limited
Bharti Airtel Limited is a leading global telecommunications company with operations in 16 countries across Asia and Africa. Headquartered in New Delhi, India, the company ranks amongst the top 3 mobile service providers globally in terms of subscribers. In India, the company's product offerings include 2G, 3G and 4G wireless services, mobile commerce, fixed line services, high speed home broadband, DTH, enterprise services including national & international long distance services to carriers. In the rest of the geographies, it offers 2G, 3G, 4G wireless services and mobile commerce. Bharti Airtel had over 456 million customers across its operations at the end of Jun 2018. To know more please visit, www.airtel.com

About JUMO
JUMO Tanzania Services Company Ltd. is a subsidiary of JUMO, an emerging markets technology company with operations across Africa and Asia. The JUMO platform connects small businesses and individuals with real-time access to digital financial services, such as savings and loans. The company works with partners such as mobile network operators and banks to reach underserved segments and achieve a massive transformative purpose: financial inclusion across the world. JUMO has served over 9 million customers to date. For more visit www.jumo.world

About Letshego Tanzania
Letshego bank (T) Ltd. is a subsidiary of Letshego Holding Limited (LHL), licensed by central bank of Tanzania (BOT) to operate as a commercial bank. The bank provides suitable and sustainable financial solutions in education, health, housing, and SME’s ecosystems. Integrated countrywide via branch network, mobile banking, agency banking, and ATMs.

About Letshego Group
The Letshego Group is a proudly African multinational organisation, headquartered and listed in Botswana and focused on delivering inclusive finance solutions to underserved populations across 11 Sub Saharan Markets.

With a staff compliment of over 3,000 – including both direct and indirect sales agents - and more than four hundred thousand customers, Letshego is synonymous with leveraging innovation and technology to improve the lives of individuals who have limited access to traditional financial services.

In 2018, Letshego celebrates 20 years of supporting regional communities, with strong progress towards the Group’s ambition to be Africa’s leading inclusive finance organisation. For more info visit www.letshego.com