5th September 2017, Dar es Salaam: Access to financial services in rural areas has become increasingly challenging, with various stakeholders including the government seeking various ways to ensure reliable financial services reach targeted audiences. Recently, financial services through the telecommunication industry have been considered as one of the solutions due to continuous growth, speed of technology and creativity in the industry.
The challenge and the advancement of technological development has provided an opportunity for Halotel Telecommunications Company in partnership with FINCA Microfinance Bank, to establish a service which allows a customer to open an account and keep savings on their mobile phone through a service named Halo Yako which was launched today.


Speaking at the launch ceremony the Chief Guest, Commissioner for External Finance who was representing the Minister for Finance and Planning Hon. Phillip Mpango said that “The government has continually created a friendly environment for large and medium-sized businesses that aim to simplify financial services and provide solutions to the challenges that face Tanzanians particularly in economic development.


 "The government is ready to collaborate with companies that aim to eradicate poverty from Tanzanians by growing their income to improve their lives. Through a service like Halo Yako service, I believe more Tanzanians who do not have access to banking services can now use this service and achieve their financial goals. Halotel and FINCA Microfinance Bank have the same goals which aim to support low income level Tanzanians who mostly live in the rural areas, our belief is that this partnership will have a great impact on the Tanzanian community and will help build a savings culture, “said Commissioner Rubaga.


He also urged the companies to ensure that they provide adequate education so that Tanzanians can understand the importance of the service and be able to make good use of it while calling on the Tanzanian community to keeping their funds in the house and to start a culture of saving for specific financial goals.


Speaking at the event the Managing Director of Halotel Tanzania Le Van Dai said,” We are pleased with this partnership between Halotel and FINCA. On our side this is a big achievement which is in support of the efforts by various stakeholders to provide financial service solution to all Tanzanians. Halotel always strives to be more than a telecommunication company; we want to be a company that works daily to improve the lives of the people socially and economically.”


“Through this service we are sure that Tanzanians all over the country will be able to start a savings culture through Halo Pesa and achieve their goals. Halo Yako allows one to open up to five savings accounts with specific goals and time frame. Halo Yako will keep track of your savings, remind you of your commitment while rewarding you monthly with an interest according to your savings and also free mobile bundles," Dai continued.


Speaking on behalf of FINCA Microfinance bank Tanzania, the Managing Director Issa Ngwegwe said that “FINCA’s mission is to alleviate poverty through lasting solutions that help people build assets, create jobs and raise their standard of living. And today we are proud to partner with Halotel as the financial partners in providing this service. It is our utmost hope that many Tanzanians will choose this very innovative service to improve their lives and FINCA promises to continue bringing solutions to ensure lives are improved all over the country.”

Ngwegwe continued “Halo Yako is not just a mobile financial product, it is a goal oriented savings account product which is an answer to many Tanzanians who are seeking savings products to be able to pay towards their various financial obligations including school fees, house rent, making  investments, paying for health services, and even for traveling on holidays.Through Halo Yako a customer can make a plan and start savings towards the goals set and that way avoid debts and being unable to meet crucial financial obligations of the family.”

HALOYAKO will operate through the HALOPESA service which is the Halotel mobile money service that allows a subscriber with a mobile phone to send and receive money quickly, safely and conveniently.


About Halotel

Halotel is the brand name of Viettel Tanzania Ltd, a member of Viettel Group. Viettel is the biggest telecom group in Vietnam with nearly USD 11 billion revenue in 2015. Apart from Vietnam, Viettel has invested in telecommunications sector in 10 countries across 03 continents, including; Cambodia, Laos, Timor Leste, Myanma for Asia Mozambique, Cameroon, Burundi, Tanzania for Africa and Haiti, Peru for America. We officially launched on 15 Oct 2015, providing our mobile service at 30 shops across the country.

With a total value investment of 1 billion US dollars, after constructing and installing network infrastructure in just one year, Halotel’s operations in Tanzania have already expanded services to all 26 regions in the country across rural and urban areas.

Halotel is a partnership between the government of Vietnam and Tanzania, and therefore Halotel will always abide by the governing laws of Tanzania for the investment to benefit both countries and citizens.


About FINCA Microfinance bank Tanzania

As is our mission worldwide, FINCA Microfinance Bank primarily serves the country’s low-income entrepreneurs and aims to ultimately help them improve their standard of living. FINCA Microfinance Bank stems from an idea conceived over 25 years ago and continues to grow and invent means to effectively reach a wider client base.

FINCA Microfinance Bank Milestones

1985: Foundation of FINCA International

FINCA (Foundation for International Community Assistance) is established.

1998:  Establishment of FINCA Tanzania

FINCA Tanzania is launched and begins operating as a micro-finance institution.

2013:  Transition to Deposit-Taking Institution

FINCA Tanzania becomes the first Micro-finance Institution licensed and regulated by the Bank of Tanzania and begins offering savings accounts with additional banking services.

2014:  Introduction of FINCA Express (Agency Banking)

As a means to increase its outreach in providing financial services to communities, FINCA Microfinance Bank introduced Agency Banking - using retail agents to offer proximity banking services. The pilot phase is going on in Dar es Salaam - with full roll out scheduled for 2015.

2015:  FINCA becomes a fully-fledged bank

After 17 years of operation as micro-finance institution in the country, FINCA Tanzania accomplished yet another milestone, which opens a whole new chapter of our operations as FINCA Microfinance Bank.