TANGAZA MONEY TRANSFER

Development System Ltd, the holding company that owns Tangaza Ltd. Tangaza Ltd is licensed by the Central Bank of Kenya (CBK) and the Communications Commission of Kenya(CCK) to operate a Money Transfer and E-Payments System in Kenya being marketed under the brand name TANGAZA.

Mobile Money Trasfer is now a household activity in Kenya with the flourishing of mobile telephony technology that has come of age in Kenya. The reception of TANGAZA as mobile money service is therefore not likely to face any uptake issues given that the Kenyan population is already well acquianted with mobile money platforms.

Why would one want to invest in Tangaza (Kenya)?

• TANGAZA money trasfer is a viable going concern in the Kenyan market. The recruitment of Tangaza Agents (registration, deposit and withdrawal points) nationwide (Kenya), currently ongoing with a target of 12,000 agents to spread to all corners of Kenya.

• By investing in Community Development Systems Ltd (Tangaza’s holding company), the investor will automatically own a piece of Tangaza Ltd and an equal share of MobilePay Ltd.

• MobilePay Ltd is the ICT company that has designed and runs  Tangaza money transfer applications. MobilePay  Ltd capitalization is  over Ksh. 3 Billion in the value of both software applications  and hardware at it’s super Data Centre and offices situated at Wilson Business Park off Langa’ta Road at Wilson Airport. MobilePay has been in existence for over 3 years.

• TANGAZA money trasfer platform can send  or recieve money across all mobile operators networks ie; on Safaricom, Zain , Yu and Orange

• TANGAZA is the only money transfer service  that you can register and open a  (Central Depository and Settlement Corporation (CDSC) account online and on mobile phones to enable one to trade in the Nairobi Stock Exchange

• TANGAZA money transfer service is the only mobile telephony and internet based platforms where Kenyans can  trade (buy and sell) stocks and bonds offered at the Nairobi Stock Exchange(NSE). This service is offered in real time( instantly) as long as the NSE is open, and all transaction details instantly relayed to one’s mobile phone or the e-mail address on the internet.

• TANGAZA  money transfer service is the only money transfer service in Kenya that offers  highest level of registration security through capturing the registrants info by a Personal Digital Assistant(PDA). Information recorded includeds customers name, ID number, address, photograph and thumbprint( with an electronic thumb reader). Every Tangaza agent will have a PDA and a thumb reader for registration and identification of the customer.  The biometric(thumb reader) identification makes TANGAZA safest money transfer service in Kenya.

• TANGAZA money transfer service is the only money transfer service that you can deposit and withdraw money from an authorised agent without necessarily having to carry a national Identity card or a mobile phone. This is done by simply placing your thumb print on the thumb reader for identification which automatically accesses your TANGAZA account.

• TANGAZA registration qualifies for Know Your Customer (KYC) requirements  for opening bank accounts ( as prescribed by CBK) which enables TANGAZA account holders to open bank accounts by simply submitting their particulars already captured during  TANGAZA registration, to the prospective banks. Efforts are underway to connect most commercial banks with the TANGAZA platform.

• TANGAZA international money transfer service:

Tangaza has applied for International Money Transfer license in United States of America under Tangaza LLC registered in DC. Other international markets to follow.

This strategic investment is based on the realization that the Diaspora will always send money “home” and hence the existence of a business opportunity in international money transfer.

Kenyans abroad send home a lot of money every year in form of remittances. According to to a report of a survey done by Bendixen & Amandi (B&A) contracted by World Bank, October 2010, Kenyans abroad sent home over $1.9 Billion (approx. Ksh.150 Billion) annualy. That places them only second to Nigeria Diaspora in the Continent.

However, this huge volume of remittances (for both poverty eradication and investment) has been transacted painfully under high costs in transfer fees. The average transfer costs (from the key Kenyan Diaspora destinations-Europe and North America), across the current money transfer service providers and banks is  about 12% of the amount being sent. The Africa average is  about 10%.

That means a whooping $228 million (about KSH, 18 billion) went into fees for service for alone . Another significant “loss” is in the foreign exchange rate, which the money transfer companies set to their convenience, totalling to another estimated loss of KSH 5:00 for every $ (USD 1.9 x5)= 9.5 billion.

Given this scenario, it is fairly accurate to deduce that Kenyan’s abroad gave up approximately KSH.30 billion in costs of remitting alone. TANGAZA has positioned itself to tap into this lucrative market and is confident to get a sizable piece of the pie.

Upon licensing of the TANGAZA international money transfer service, there are instant advantages for the Diaspora remitter.

• TANGAZA  money transfer service  will reduce the current cost of money transfer by over 75% ( this works to about 5%, down from the current 15%)

• The Diaspora will get the market rates for Foreign Exchange

• The Diaspora will also be able to send their money home ( and receive payments from home too) Online and on Mobile in real-time (Instantly)

• Once one is registered and has a Tangaza account, the Diaspora will also be able to access the Nairobi Stock Exchange(NSE) and trade shares and bonds in real time (instantly) both on their mobile phones and online as long as the NSE is open.

• The Diaspora will also be able to open bank accounts with ease using the KYC information obtained through the process of TANGAZA registration.

By investing in Community Development System Ltd,  the Kenyan in the Diaspora will therefore be able to;

• earn dividends

• get an opportunity to earn an income through owning a business by becoming a Tangaza agent abroad.