Tanzanians in USA can now send money back home at low fees through the people's bank of Zanzibar!

Ngida1

JF-Expert Member
Aug 25, 2009
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The online remittance services established in 2013 by the People's Bank of Zanzibar Limited (PBZ Ltd) in collaboration with a UK company called WorldRemit for the purpose of enabling Tanzanians in different Diaspora Communities to send money back home from the comfort of their homes at low fees and without any hassles have now entered the United States of America (USA). Previously, Tanzanians in USA could not use these services as they were not available in the country.

Thus, Tanzanians in the United States of America will now enjoy low fees remittance services that other Tanzanians throughout the world have been enjoying since early 2013.

However, to begin with, you can send money to Tanzania via the People's Bank of Zanzibar/WorldRemit if you live in one of the following states.
- District of Columbia (DC) (also referred to as Washington DC)
- Idaho (ID)
- Michigan (MI)
- Missouri (MO)
- Montana (MT)
- New Mexico (NM)
- North Dakota (ND)
- Oregon
- South Carolina (SC)
- Utah (UT)
- Wisconsin (WI)

More States like New York, California, Texas, Florida and others are expected to jump on the bandwagon very soon.

The remittance services were recently expanded by the People's Bank of Zanzibar and now Diaspora families can transfer funds not only for cash pickup at PBZ branches in Dar Es Salaam, Zanzibar and Pemba, but also directly on the mobile handsets of their relatives and friends wherever they live in Tanzania.

The mobile services are operated by the bank through Tigo and Zantel Mobile Service Providers; but, recipients need to register before they could receive money on their mobile phones from outside.

New customers in USA are advised to visit the bank's website for details at:<www.pbzltd.com>

Tanzania has more than 28 million phone subscribers - mobile and wired networks, with majority being mobile users.

Like other African countries, mobile money use in Tanzania has rocketed over the past few years, and according to Diego Gutierrez, General Manager of Tigo, "Tanzania has leapfrogged the need for credit cards and debit cards."
"Mobile financial services are becoming an essential part of people's lives. It's a mainstream product" said Gutierrez in a recent speech.

With the increasing competition, phones are used for about half of all cash transfers for bill payment in Tanzania, versus none six years ago, according to the GSM Association, a trade group of mobile carriers. About 17 percent of Tanzanians bank with a formal financial institution, the Central Bank says, while more than a third of households have one or more mobile money users, GSMA estimates, reports Bloomberg, an organization which connects influential decision makers to a dynamic network of information, people and ideas.

Thus, the People's Bank of Zanzibar / WorldRemit's efforts in expanding the remittance services worldwide are commendable actions in the right direction.

SOURCE: ZANZIBAR NI KWETU
 

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