DCB Commercial Bank has initiated a program aimed at digitalizing access to banking services for Village Community Banks (VICOBA), to bolster financial inclusion.
The Chief Executive Officer of the bank, Mr. Sabasaba Moshingi, announced this initiative in Dar es Salaam yesterday, emphasizing the pivotal role of VICOBA in combating poverty and fostering economic empowerment within impoverished communities.
"We recognize the transformative power of technology in improving livelihoods, which is why we're introducing the VicobaApp to facilitate easier access to financial services for members and other social groups via their mobile phones," stated Mr. Moshingi during the event.
The unveiling of the DCB VicobaApp targets VICOBA members and other social groups across the country, aiming to streamline their transactions and ensure enhanced security, thereby promoting economic growth within society.
Established approximately 22 years ago under the initiative of former President Benjamin William Mkapa, DCB has prioritized uplifting the lives of Tanzanians with modest economic means, particularly small and medium entrepreneurs. Mr. Moshingi underscored the bank's commitment to supporting Tanzanians who often face challenges in meeting loan criteria and accessing investment opportunities in commercial banks.
Through this partnership, Mr. Moshingi explained, DCB customers will have convenient access to their accounts anytime and anywhere, facilitating seamless transactions and service delivery.