Tanzania: Stanbic Launches New Proposition for Pensioners

STANBIC Bank Tanzania has launched a new banking solution ‘Hekima Banking’ that targets retirees and soon-to-be retirees aimed to give them peace of mind while their money work for them.

Hekima Banking is a comprehensive banking solution which caters for the unique needs of the target customers including transactional, savings and investments.

The solution launched in Dodoma over the weekend by Minister of State in the President’s Office (Public Service Management and Good Governance), Jenista Mhagama, includes an interest-bearing account which gives the account holder, access to the Stanbic Financial Fitness Academy, Insurance facilitation, and the services of a trusted Hekima financial advisor.

Hekima Banking is part of Stanbic’s efforts to promote financial inclusion by enabling pensioners to continue accumulating wealth and maintain their independence so as to improve and maintain their quality of life.

Stanbic Director of Retail Banking, Mr Omari Mtiga said they have taken the complexity out of banking for pensioners by allowing customers to understand how their funds can work for them at their convenience enabling them to take full control of their financial future.

“Hekima offers more than just a transactional account. We equip you with tools to properly manage your pension to ensure long-term financial stability for you and your family,” he said.

Armed with an understanding of the needs of the demographic, Stanbic is dedicated to ensuring that its customers enjoy their golden era of retirement, changing people’s prejudice toward seeing retirement as the end of life.

“‘Your retirement from work should not mean retirement from your aspirations. We walk with you on your journey to retire well because we believe you can achieve your dreams and aspirations even during retirement,” he added.

Ms Mhagama commended Stanbic for providing solution for retirees and understanding the importance of equipping them with financial education noting that, it will save them from scammers who target them upon receiving their pension.

She said that by providing them with education, retirees will now have the tools and knowledge that will enable them to continue enjoying a good quality of life even after retirement.