TPB, TFTF in new pact to encourage fishermen inculcate saving culture

13Mar 2019
The Guardian Reporter
DAR ES SALAAM
The Guardian
TPB, TFTF in new pact to encourage fishermen inculcate saving culture

TPB Bank PLC and Tanzania Fisheries Trust Fund (TFTF) yesterday signed a Memorandum of Understanding (MoU) whereby all fishermen in the country will be able to save their monies through a special Automated Teller Machine (ATM) card dubbed; “Wavuvi Card”.

The signing ceremony was held yesterday at the TPB Bank PLC headquarters in Dar es Salaam’s Kijitonyama area and 4.5 million fishermen in the country are entitled for the service.

 

TPB Bank PLC board chairman, Dr Edmund Mndolwa said the new banking service will make fishermen adopt a saving culture and avoid various risks.

 

Mndolwa said the services are now available at all 76 banks’ branches and over 1,000 TPB agents.

 

He said apart from financial services education that the bank will offer; fishermen would be able to secure soft loans as per rules and regulations set by the bank.

 

 “TPB Bank’s branch network is spread all over the country and we have decided to introduce the Wavuvi Card to help them to save their monies and through that, they would be identified and those who will meet our criteria and regulations would get soft loans,” said Mndolwa.

 

TFTF chairman, Alphonce Mkama thanked TPB Bank for the service that would make their members to change their saving culture and adopt a modern one.

 

Mkama called on TFTF members to open their accounts with TPB bank and enjoy the services. He said out of 4.5 million fishermen, only 56,000 are TFTF members.

 

 “I call upon all fishermen who are not members, to join TFTF in order to enjoy the modern banking services from TPB Bank. This is a historical moment for us as we have suffered for many years to have specialized banking services which caters for our needs, and for this we do thank TPB bank” said Mkama.

 

 He said with the Wavuvi Card, all fishermen can save and draw monies through mobile banking without any service charge.