Dar es Salaam. Letshego Faidika Bank Tanzania Limited has launched a 12-week campaign aimed at encouraging Tanzanians to save more, offering weekly cash prizes, monthly bodaboda rewards and a cargo tuk-tuk as the grand prize.
The campaign, dubbed ‘Weka. Tukuwekee!’, runs until December 27 and will be rolled out across the bank’s five operating zones – Southern, Northern, Central, Lake and Western.
Letshego Faidika Bank chief executive officer Baraka Munisi said the campaign was designed to encourage savings, attract new customers and promote the use of formal financial services.
‘As part of the campaign, the bank will use branded activation vans to take banking services closer to communities, allowing customers to open accounts, receive cards and activate them on the spot,’ he said.
Customers who deposit money into their LetsGo accounts will compete for weekly cash prizes in three categories based on the amount saved.
Those in the Wathubutu category, for deposits of up to Sh50,000, will compete for a weekly Sh50,000 prize, while customers in the Wajenzi category, depositing between Sh50,000 and Sh500,000, will compete for Sh100,000.
Customers in the Wakubwa category, for deposits above Sh500,000, will compete for a weekly Sh200,000 prize.
The bank has allocated at least Sh50 million for the weekly cash prizes.
In addition, the customer with the highest deposits each month will win a new bodaboda, while the overall top depositor at the end of the 12-week campaign will receive a cargo tuk-tuk.
‘The campaign was designed to make saving more accessible, convenient and rewarding. ‘Weka. Tukuwekee!’ is our commitment to making saving accessible, rewarding and convenient for every Tanzanian,’ Mr Munisi said.
‘By expanding our deposit channels and taking our services directly to communities, we are removing barriers to formal banking.’
The bank has also expanded the channels through which customers can deposit money into their LetsGo accounts.
Deposits can be made through Letshego Faidika Bank branches and satellite offices, wakala agents and mobile money platforms, including M-Pesa, Airtel Money, Tigo Pesa and HaloPesa. Customers can also transfer funds from other banks.
For the first time, customers can deposit money through CRDB wakala agents and TCB branches, with the funds credited directly to their Letshego Faidika Bank accounts at no additional charge.
Letshego Faidika Bank Head of Business Eddie Mhina said the campaign was also targeting entrepreneurs seeking to develop a consistent savings culture as they grow their businesses.