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CRDB Microfinance Services

Country

  • Product Type: Mobile and Agency Banking
  • Sector: Finance Oriented
  • Project Country: Tanzania

CRDB Microfinance Services

CRDB Microfinance Services

Providing virtual banking services through mobile phones.

CRDB Microfinance Services is a subsidiary of CRDB Bank Plc. It offers both wholesale and retail microfinance services; the former targets grassroots institutions that serve the low income micro-entrepreneurs and small farmers, especially in remote and rural areas of Tanzania; while the latter is the methodology that directly serves retail micro-entrepreneurs, smallholder farmers and informally employed. Furthermore, the company also offers advisory and ICT services to its clients.

Project Description

CRDB Microfinance Services through its ‘SimAccount’ project has developed a virtual account – enabling relevant beneficiaries to access financial services (savings, money transfer, payment systems, etc.) via their mobile phones.