Diamond Trust Bank Tanzania Unveils Biashara+ to Empower MSMEs and Accelerate Business Growth
Diamond Trust Bank Tanzania PLC has launched the Biashara+ Current Account, an enhanced business banking solution designed to empower Micro, Small and Medium Enterprises (MSMEs) through affordable banking services, simplified transactions and convenient access to digital financial solutions.
Recognizing the critical role MSMEs play in driving economic growth, job creation and entrepreneurship, the Biashara+ Current Account is tailored to support businesses in managing their daily financial operations efficiently. The account targets retailers, traders, distributors, agro-dealers, sole proprietors and other small business owners seeking accessible and reliable banking solutions.
With an opening balance of TZS 10,000 and a minimum operating balance of TZS 10,000, Biashara+ makes formal banking more accessible to entrepreneurs, particularly those operating with modest financial resources.
Commenting on the launch, Diamond Trust Bank Tanzania - Head of Retail Banking, Mr. Abhinav Sharma, reaffirmed the bank's commitment to supporting enterprise development and financial inclusion.
"Small businesses are the backbone of our economy, and their growth is essential to Tanzania's economic progress. Through Biashara+, we are making everyday banking simpler, more affordable and more accessible, enabling entrepreneurs to spend less time managing banking transactions and more time building sustainable businesses," said Mr. Sharma.
The account offers a range of benefits, including free Internet Banking registration, free Lipa Eazy onboarding and two free TIPS transfers daily. Sole proprietors also benefit from free Mobile Banking registration, enhancing convenience and flexibility in managing their business finances.
To ensure affordability, the account attracts a monthly ledger fee of just TZS 2,000, while over-the-counter cash withdrawals are charged TZS 2,500 per transaction. Additional TIPS transfers beyond the two free daily transactions are charged in accordance with the Bank's prevailing tariff guide.
To open a Biashara+ Current Account, customers are required to provide a NIDA ID or other valid identification, a TIN certificate, a business license where applicable, proof of business location, a passport-size photograph and completed account-opening forms. Additional documentation may be required for companies and partnerships.
The introduction of Biashara+ reinforces DTB Tanzania's commitment to advancing financial inclusion, strengthening the MSME sector and delivering innovative banking solutions that respond to the evolving needs of Tanzanian businesses.
Mr. Magusa Nhende, Head of Retail Lending & Digital Innovation, speaking to the press during the launch of the DTB Biashara+ Account, a new banking solution designed to meet the evolving needs of MSMEs through accessible, flexible, and value-driven banking services.
Ms. Elizabeth Mayengoh, Head of Branches, addresses the press during the launch of the Biashara+ Account, underscoring the bank’s dedication to driving financial inclusion and supporting the growth and resilience of Tanzania’s MSME sector.
From left: Abhinav Sharma (Head – Retail), Elizabeth Mayengoh (Head – Branches), Ravneet Chowdhury (CEO) and Magusa Nhende (Head – Digital Lending) during the launch of the Biashara+ Account, reaffirming DTB’s support for MSMEs.
