Tanzania: Uchumi to Introduce Insurance Services


Uchumi Commercial Bank (UCB) is planning to start providing insurance services, a move being part of improving the lender services.

UCB Acting General Manager Mr Michael Mkilingi said during the marking of the Customer Service Week, which was held in Moshi, over the weekend.

“We have started a process where we will work with insurance experts to introduce and provide such services to our customers as part of ensuring they are insured while conducting their business whether commercial or agricultural,” Mr Mkilingi said.

In another development, the bank also created a Mavuno Account, where a customer can save as low as 500/-. The service has no monthly deductions and the customer will receive 3.0 per cent interest every four months.

The Mavuno account designed to ‘mature’ between December and January since that was period most customers are very much in need of finances.

“This plan is to help customers to carry their obligations like pay various taxes, annual residential and commercial rents and school fees,” he added.

The bank was currently working with more than 1,000 small investment groups. The lender does not only provide loans but also trains them on entrepreneurship.

Uchumi, celebrating its 16 years of service, was established by the Evangelical Lutheran Church of Tanzania Northern Diocese (ELCT-ND).

UCB provides friendly, professional and state of the art commercial banking services at its Moshi branch and the country at large.

The bank is looking at opening new branches, especially at Dodoma the country’s capital city, and setting up UCB banking agents in near future.

The ELCT-ND Saccos, General Manager, Ms Monica Mlay, said they are satisfied with the lender’s service provided.

“It is our sincere hope that you will continue to increase services that will further boost the economy of individuals, institutions and the nation as a whole”, Ms Mlay said on behalf of the bank’s customers.

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Source link : https://allafrica.com/stories/202110120516.html

Author : Daily News

Publish date : 2021-10-12 10:18:10

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