GTBank Tanzania: Providing Innovative and Convenient Banking Solutions for Every Market Segment

Jubril Adeniji, Managing Director of GTBank Tanzania, explains what makes the bank different from its competition, and presents the GAPS (GTBank Automated Payment System) and GTSACCOS platforms. Guaranty Trust Bank provides innovative and convenient banking solutions for every market segment in Tanzania.

“Tanzania is a market where there are a significant number of international and local non-governmental organizations because there are still a lot of health and educational needs in the country that are being addressed through a lot of foreign aid. Prior to us coming into the market, aid would usually be implemented through implementing agencies where the international organizations disbursed funds to smaller entities and tried to ensure that the service got to the final end user. Recently, most international organizations have decided to adopt the transfer of aid funds directly to the end user and not go through a middle implementing partner anymore. A lot of these organizations have had foreign aid from up to 10 different institutions at any point in time. So, it has become a challenge to try to manage the finances and funds from the different entities. We went to these entities and offered an electronic payment platform called GAPS (GTBank Automated Payment System) which is an in house developed platform that we can customize to assist in managing the funds from respective donor agencies. At the click of a button, they could see what has been spent from each entity independently based on unique identifiers input into the system at the point of expending some of the funds received. This has given us a very positive mark in the market. Today, we bank the Benjamin Mkapa Foundation which is one of the largest local non-governmental institutions in the market. We also bank WaterAid. They all use our platforms today for their aid disbursements to final beneficiaries. They are satisfied that we are customizing things for them on a day to day basis. They are telling other players in the market that it you want a solution to your challenges, go to GTBank because we will listen and provide the solution that they require. We are also playing within the small and medium scale enterprises market in Tanzania based on the fact that Tanzanians significantly save and manage some of their financial activities through cooperative societies which are called SACCOS in the market. In this market, most of the SACCOS still operate through manual record keeping. In Tanzania, we also developed a new platform called GTSACCOS specifically for SACCOS to register all their members with unique identifiers and be able to allow them to contribute and also get short term loans using the GTBank platform. The Tanzania Revenue Authority SACCOS currently uses that platform and that is giving us a good mileage in that sector within the market”, says Jubril Adeniji.

For more information, please visit: www.gtbank.co.tz.

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