REGMIFA contracted MSC to support Access Bank in Tanzania to boost its deposit mobilization. The move aimed to transform the institution from a largely credit-focused institution into a commercial bank that could successfully compete for deposits within an increasingly competitive banking sector.
MSC worked with the bank to strengthen its deposit mobilization activities across a wide range of interconnected areas. These included human resource management and staff incentives, marketing and communication, liquidity management, products and services, brand and image analysis, brand re-positioning, training, and business process re-engineering.
MSC’s intervention resulted in the bank being able to diversify its deposit base gradually, first through raising a wider range of fixed deposits, then by expanding the number and range of customers who use its savings and current accounts actively. As of the end of December, 2017, the bank had customer deposits of USD 87.4 million sourced from over 269,000 depositors served from 15 branches.