Country
Product Type: Mobile and Agency Banking
Sector: Finance Oriented
Project Country: Tanzania
CRDB Microfinance Services
Providing virtual banking services through mobile phones.
CRDB Microfinance Services is a subsidiary of CRDB Bank Plc. It offers both wholesale and retail microfinance services; the former targets grassroots institutions that serve the low income micro-entrepreneurs and small farmers, especially in remote and rural areas of Tanzania; while the latter is the methodology that directly serves retail micro-entrepreneurs, smallholder farmers and informally employed. Furthermore, the company also offers advisory and ICT services to its clients.
Project Description
CRDB Microfinance Services through its ‘SimAccount’ project has developed a virtual account – enabling relevant beneficiaries to access financial services (savings, money transfer, payment systems, etc.) via their mobile phones.