The lasts Tanzanian bank to introduce mobile banking, Mkombozi Commercial Bank (MKCB), launched its Bank Plus, a 24/7 full banking service that allows MKCB customers to perform financial transactions and access banking information using their mobile phones.
The new products is part of the bank’s development strategy that also includes the deployment of Agency banking, as explained by Edwina Agnellus Lupembe, MD of MKCB when interviewed by TanzaniaInvest.
The bank recently published positive interim result for Q1 2014, with an operating income before taxt at the end of March 2014 of TZS 565 million, compared to a loss of TZS 684 million at the end of March 2013.
Mkombozi Commercial Bank’s target markets are small and medium sized entrepreneurs, companies, Savings And Credit Co-operative, social enterprises such as schools, universities and corporations.
The bank is aiming currently at floating at Dar Es Salaam Stock Exchange (DSE) alternative market, known as the Enterprise Growth Market (EGM).