Selcom
Microfinance Bank Tanzania Limited has officially launched Selcom Pesa, a digital
financial service designed to empower Tanzanians with seamless, secure, and
affordable access to financial solutions. Selcom Pesa is set to redefine the
digital financial services sector in Tanzania by offering the lowest
transaction fees in the country. This innovative platform and businesses to
access affordable financial services and contribute to a more inclusive
economy.
At the heart of
Selcom Pesa is a commitment to making financial services accessible to all
Tanzanians, regardless of their economic status. The platform’s digital-first
approach ensures convenience and ease of use, allowing users to conduct
transactions seamlessly through their mobile devices. By offering the lowest
transaction fees in the market, Selcom Pesa is removing the financial barriers
that have historically excluded many Tanzanians from participating in the
formal economy.
During the
launch event, the Governor of the Bank of Tanzania (BoT), Mr. Emmanuel Mpawe
Tutuba, commended Selcom Microfinance Bank and its main shareholder, Selcom
Paytech Tanzania, for this transformative initiative. “The launch of Selcom
Pesa is a testament to the power of innovation in driving financial
inclusion,” he said. “This platform will play a crucial role in
empowering Tanzanians and fostering economic growth.”
As part of the
launch, Selcom Microfinance Bank introduced the 5 Kwa Jero marketing campaign,
which allows Selcom Pesa users to conduct five transactions per day for a flat
fee of just TZS 500.
The 5 Kwa Jero
initiative is expected to significantly reduce the cost of financial
transactions for individuals and small businesses, enabling them to save money
and reinvest in their growth. By making financial services more affordable, Selcom
Pesa is paving the way for a more equitable and prosperous financial ecosystem
in Tanzania.
Selcom Pesa sets
a new standard for digital financial services in Tanzania, combining
cutting-edge technology with a user-centric approach. The platform’s emphasis
on low transaction fees challenges the traditional notion that high fees are
necessary to justify investments in technology.
By: Kanto Okanta
