THE United Bank for Africa (Tanzania) has launched Moneygram, electronic funds transfer product, targeting both account holder and non account holders.
Addressing journalists in Dar es Salaam on Friday UBA Tanzania Managing Director Mr Demola Ogunfeyimi said the electronic money transfer product will enable people send and receive money from 200,000 agents in over 192 countries worldwide.
UBA Tanzania also has its own remittance services, called Africash, which is a secured electronic payment service that allows money transfers across African countries only, where UBA has a presence.
"This money transfer platform, which is affordable, easy and convenient, enables customers to send and receive money instantly through the UBA network across 19 countries in Africa. Customers pay no charges when receiving money through both electronic money transfer services," he explained.
UBA Tanzania is a subsidiary of UBA Plc, one f Africa's leading financial institutions, headquartered in Lagos Nigeria, which commenced operations in Tanzania in 2009.
Mr Ogunfeyimi said as of December 2012 the bank recorded key financial achievements in a number of areas including, a balance sheet size of US 20 billion dollars, deposit base of US 11 billion dollars, market capitalization of US 5.30 billion dollars, shareholders fund of over US 1.6 billion dollars and over 8 million customers.
He noted that the Bank's focus is to provide top class services to the public of Tanzania that will leave a positive effect to customers making them come back for more.
The Bank's Chief Operating Officer Mr Chris Byaruhanga said the banks future plan is to expand throughout the country and bring UBA Tanzania service closer to the people.
Other products that the banks offers, according the bank's Head of Products and E-Banking Ms Lilian Mboya includes Africard which is designed for both customers and non-customers of the bank and eliminates the need to carry large sums of cash and associated security risks.
The Bank offers universal banking to more than 8 million customers across 1000 branches in 19 African countries and has international presence in countries including the United States (New York) Europe (London), France (Paris), Dubai and China (Guanghzou).