Ecobank has scale up an aggressive campaign to raise deposits in Tanzania as it seeks to increase its market share in the country’s retail banking industry.
It has rolled out a countrywide initiative to raise deposit at a low-cost and is opening branches and automated teller machines (ATMs) to turn around its fortunes, according to the Chief Executive Officer (CEO) of Ecobank Tanzania, Mr Noch Osei-Safo.
“The win campaign to lure more customers is ongoing and the market has responded very positively so far,” he said in an interview with ‘Daily News on Saturday’.He said the country’s market is interesting and competitive, adding that it needed some time to expand and reach a wider client base.
He was speaking during the award of prize at the Mwenge branch in Dar es Salaam in the ongoing “Win Big with Ecobank” campaign. This brings to 45 the number of customers who have won different categories of prizes in the campaign so far.The campaign, he said, also aimed at deepening the savings culture, financial inclusiveness and improving brand visibility.
Meanwhile, the bank is in the final stages of unveiling mobile banking to enable its customers to access banking information whenever using mobile phones.The Head of Product and Marketing at Ecobank Mr Andrew Lyimo said mobile banking was part of the bank’s strategies to reach more customers especially those of low and middle income levels and entrepreneurs.
It serves this section of the clientele time, a crucial resource, as they do not have to displace themselves to the branches to access vital information in their bank accounts.According to Mr Lyimo, the two years of the Ecobank operations in Tanzania have been very successful, and the prospects are rosy.
Currently, the bank has five branches operating in Dar es Salaam at Mwenge, Uhuru Street, Msimbazi and Sokoine Drive. However, the bank plans to open more branches in Arusha and Mwanza this year, while the next step for expansion will be in 2013 where unbanked population up countries like Mtwara is targeted.
Upon completion the campaign in December when the vehicle, a Hyundai 35 will be up for grabs to mark the final draw of the campaign, the bank will have cultivated into many a Tanzanian the saving culture for the future.
By ORTON KIISHWEKO, Tanzania Daily News