Mumbai based money transfer technology company TimesOfMoney are reportedly eyeing to enter the Tanzanian market to benefit from money transfer from Diaspora.
“We tied up with Diamond Trust Bank in Kenya recently to offer these services to NationHela users. Tanzania is the next key market where we would like to tie up with banks to offer our remittance services to people living in the diaspora and sending money back home to their families,” said Avijit Nanda, TimesofMoney Chief Executive Officer.
According to Tanzania Daily News, TimesofMoney will enable Tanzanians living abroad to send money to relatives and friends back home online, eliminating the pain of standing in queue at money transfer agents.
The country is estimated to have 2 million people living and working outside Tanzania who contribute up to US$75 million as per last year’s statistics.