Postbank to handle cash for TAVEVO

Taita-Taveta Water and Sewerage Company (TAVEVO) has partnered with Post Bank to in a bid to end cash transactions in its offices by June 2018.

The partnership will see Post Bank roll-out Mashinani agents in six key areas that are served by the water company where over 10,000 clients are expected to pay their bills.

The areas targeted in the first phase of the roll-out are Mbololo, Taveta, Voi, Mwatate, Maungu and Mackinnon road.

Speaking on Saturday during the signing of the agreement, TAVEVO Acting Chief Executive Officer (CEO) Ms. Pricillah Saidi said it was now going to be economical for clients in far-flung areas to use the banks agents to pay bills rather than travelling long distances to the company offices in Voi.

This is a timely intervention for our clients. Post bank will open up Mashinani agencies where they will collect money on our behalf, she said.

Mr. Benson Wanyoike, Marketing Communication Manager who was representing the bank’s CEO, said the partnership confirmed the bank’s commitment to work with companies to bring positive change in the community.

Ms. Julie Mwakidedi, Post Bank Coast regional Manager said the bank was committed to bringing transformation in ease of doing business for the water provider.

Other areas Post-Bank is eyeing are Maktau, Mgange Dawida, Mghange Nyika and Bura Mission. The bank has also initiated a program to conduct financial literacy lessons for school children in a bid to encourage saving culture.

TAVEVO has a customer base of 20,000 clients but only 12, 000 are active. It covers only 42 % of the water supply in the county but intends to expand its pipe network to over 70 per cent. The company’s monthly billing is at sh 20 million with a collection capacity of approximately 90 per cent.

Ms. Saidi said elimination of handling cash was meant to introduce efficiency in revenue collection. She said the firm had eight cashiers who handled cash when customers came to pay. This, she noted, was ineffective as it was time-consuming and also slow. With the entry on bank’s e-payment platform, the company hopes to have over 100 per cent revenue collection.

We have pending bills and we expected to collect the money owed to us alongside the current bills. We will go past the 100 per cent mark, she said.

Source: Kenya News Agency