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Umoja Switch has 24 member banks and 150 ATMs scattered across the East African country

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by R.B, Sep 14, 2012.

  1. R.B

    R.B JF-Expert Member

    Sep 14, 2012
    Joined: May 10, 2012
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    The UmojaSwitch ATM network is spreading across Tanzania by the day while improving banking transactions for customers, especially those based in rural settlement, enabling the accessibility and interoperability for all holders of the Umoja ATM card

    Founded in 2006 by a group of six community banks, the UmojaSwitch network now boasts of 24 member banks and 150 ATMs scattered across the East African country.

    Mbinga Community Bank and Advans Bank Tanzania joined the network this month, further strengthening the consortium, which local observers say is becoming a challenger of the foreign ATM networks in the country.
    UmojaSwitch was set up to provide electronic payment transfers to its members, but due to tremendous increase of member banks, the consortium changed the structure and became a company which is still owned by member banks.
    The UmojaSwitch sign is now seen on the ATM lobby of a number of banks in the country unlike before and the group says its main objective is to provide services which are reliable, affordable and accessible across the country.
    The network will soon unveil a range of products and services to offer more opportunities particularly to the population sidelined in the financial services, officials said.