PBZ plans mobile money

The People’s Bank of Zanzibar plans to launch mobile money services later this year.

The bank’s Director of Marketing and Business Development, Juma Hafidh, said the bank had installed the necessary infrastructure and intended to roll out mobile banking facilities to its 138,000 customers soon.

The majority of the country's citizens are unbanked, and mobile money is expected to offer convenience and access to financial services both to the banked and unbanked.

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