It is an absolute pleasure to be here today to launch Tenga Mobile Money. The launch comes at an opportune time when many Zambian are looking from basic and affordable financial services. Atlas Mara is committed to the financial inclusion agenda and it is reflected as of one our key strategic objectives of broadening access to financial services.
Â Tenga Mobile Money is one of the initiatives that the Bank has launched to increase financial inclusion. This initiative is a financial solution that will enable every Zambian across the country to save and invest, to transfer moneys, make bill payments and to provide short term borrowing opportunities.
This solution comes with no monthly charges for account maintenance you only be charged a minimal amount for transactions. ZERO MONTHLY CHARGES. The charges come in effect on cash withdrawals at the point of transaction.
Honourable Minister, DistinguishedÂ guests, financial inclusion for all Zambian will not be achieved by a single entity it has to have various stakeholders, therefore, both Public and Private sector have an important role to make financial inclusion a reality. And Atlas Mara launching Tenga extends this initiative.
Tenga will benefit our existing partners to make it safe and convenience to meet their financial obligations to stakeholders across the country through our 67 branches, 174 ATMs and as well as through our partners ZOONA with over 1200 outlets across the county.
Honourable Minister, Distinguished guests, Tenga is for you and I, not only for across country transfers, it also for your day to day transactions. Whether to pay your helpers, pocket money to your children for airtime etc.
As the country takes strides towards financial inclusion in line with 2017 the Ministry of finance had proposed The National Financial Inclusion Strategy (NFIS). Which provides a roadmap to further accelerate our financial inclusion journey in Zambia. In support for such a strategy, Atlas Mara has introduced Tenga. Tenga gives a convenient banking solution for the unbanked in line with government policies for financial inclusion for all. It also creates a unified connection to the existing banked population.
Financial inclusion is not for single player ,it is for private and public institutions, we therefore would like to recognise Governmentsâ€™ efforts in providing mobile access through ZICTA .We would also like thank Bank of Zambia is playing in creating an environment that promotes financial inclusion.
Honourable Minister, distinguished guests, allow me to briefly share with some exciting features on Tenga Mobile Money;
What is Tenga?
It is more than a money transfer service, its more than mobile wallet.it is a tool for financial empowerment for all through the following;
- Easily accessible by on USSD, Android and Apple Apps on any mobile phone.
- It can be used as a savings and investment tool which enables savings as a competitive interest rate of 12% per annum with flexible tenures.
Promoting a saving culture in Zambia.
- Transfers money to any mobile on any network through the country, send money to any Bank. You will also soon be able to receive money from any other Bank. You are also able to transfer to the prepaid card, the prepaid card is visa card which can be used worldwide.
- A payment solution enabling bill payments for services like Zesco, Dstv, GoTV & Top Star and many more. This solution also extends to employers making bulk payments to their employees, to the farmer receiving money on institutions etc.
- Tenga allows you to access short term loans, in small amounts from as little as K50 for a maximum of 30 days.
Honourable Minister, Distinguished Guests,
I would like to conclude by reiterating the importance of financial inclusion for all. I would like to thank the Government, our regulators, Atlas Mara staff, ZOONA including all the agents who are going to make the launch of Tenga possible.
I would like to appeal to all partners and potential partners to utilize Tenga to meet their goals. Tenga is for every Zambia, so I would like each one of you to sign up and be part of the success!
I thank you and God bless!