East Africa: Kbc Opens Shop At EAC

(dailynews.co.tz)

STAFF and delegates at the East African Community (EAC) can now easily conduct banking services at the EAC premises, following the launch of a Kenya Commercial Bank (KCB) Tanzania mini-branch, at the Secretariat Headquarters.

The move follows the signing of a Memorandum of Understanding (MOU) between the EAC Secretary General, Peter Mathuki and KCB Tanzania Managing Director Cosmas Kimario which is set to guide the establishment and extension of banking services by the regional lender at the EAC premises.

According to Dr Mathuki, the mini-branch, which will be located on the ground floor of the EAC headquarters, will provide a full range of services including; account opening, cash withdrawal and deposit, money transfers, loan processing and ATM services.

Further, the bank will avail MoneyGram and Western Union services and also provide a platform for banking inquiries.

"We have installed an ATM machine that is dispensing both local currency and dollars, to ease financial transactions for all and save on time previously spend lining up at the bank," he noted while launching the machine.

On his part, Mr Kimario disclosed that the new branch will operate on a daily basis, from Mondays to Fridays during working hours as aligned to the EAC working hour schedule.

"The EAC Secretariat has been a consistent and long-standing partner of KCB Tanzania and we are proud to scale up the partnership, in a move geared to bringing our services closer to our customers," he said.

The EAC is a regional intergovernmental organisation of six partner states - Tanzania, Kenya, Uganda, Rwanda, Burundi and South Sudan.

It is currently a home to 177 million citizens, of which over 22 per cent is urban population.