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Credit card use still low despite improvements

AS Tanzania inches forward towards attaining universal financial inclusion, the use of the credit card -arguably the trail-blazer in digital payment transactions - is still low despite improvement over the past five years, a senior Barclays Bank Tanzania official said yesterday in Dar es Salaam.

Head of Retail Banking, Oscar Mwamfagasi gave the assessment during announcement of the winner of the bank’s “Live the Card Life” promotional campaign, a twotier drive aimed at expanding banking services by getting people to open bank accounts and by mobilizing existing customers to use credit cards.

“The use of credit cards is still very low not only in Tanzania but also in other African countries except South Africa”, he said , adding that the aim of the promotion is to both increase the use of credit cards and at the same time educate the people on the benefits of using them.

The lucky winner of the campaign, which was launched on April 2019 and closed on May 31, was Yusufu Fadhili Mavura, who lives in Dar es Salaam.

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Mwandishi: DAILY NEWS Reporter

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