London, UK (PRWEB UK) 28 November 2012
East Atlantic, the UK based, deliverable exotic foreign exchange specialist, today announced the expansion of its banking partner network in Tanzania, enabling East Atlantic to strengthen the Tanzanian Shilling currency solutions offered to its corporate and institutional clients.
East Atlantic has offered fast, secure and competitive corporate payments to Tanzania, as well as to 24 other Sub-Saharan countries since the company was founded.
East Atlantic has seen the volume of Tanzanian payments grow four-fold over the last six months and the new partnership comes at a time when, according to customers, other payment providers and banks appear to be reducing their available Tanzanian Shilling products.
The new partnership underlines East Atlantic’s commitment to providing Tanzania Shilling currency solutions during a period of robust growth in the Tanzanian economy, which is expected to continue to grow at an annual rate of over 6.5% for the next couple of years. Tanzania continues to act as a magnet for foreign direct investment and trade, spurred by one of Africa’s fastest growing economies and an increasing middle class with disposable income.
“We are seeing more and more customers wanting to make payments to Tanzania in Shillings rather than US Dollars, increasing transparency and saving time and money,” said East Atlantic Director of Business Development, Rosanne Gunning, adding that this is a pattern she is seeing across Sub-Saharan Africa as capital flows grow.
Alongside recent new partnerships in Nigeria, Sierra Leone, The Gambia and Uganda, the new Tanzanian partnership will enable East Atlantic to solidify its position as a top European non-bank payment provider to Africa.
East Atlantic is a UK based, deliverable exotic foreign exchange provider, specialising in cross-border payments and managing associated risks in Sub-Saharan and Latin American currencies for businesses and organisations of all sizes.
East Atlantic is a privately backed, European payment institution and one of the few deliverable currency providers to focus on exotic currencies. The company offers customers the same products, competitiveness and service in these currencies that they would normally associate with major currencies, such as US Dollars or Euros.