SPEAKER
Mr. Sanjay Rughani – Standard Chartered Bank and Chairman for CEO Round Table
The session Focus was, “Dream Big and Make Tanzania Bigger”.
Mr Sanjay explained that because of Digitalization, our life has become extremely fast.
Financial inclusion is moving at a breakneck pace. He went in to add data that further elaborated the topics as follows,
80% plus Africans have mobile phones and 85% of Tanzanians use cell phones.
65% of people use financial models in a decade.
Mr Sanjay added we need to make the right policy reforms so we can optimize this digital uprising with the fourth industrial revolution.
The cost of which digital can be applied has substantial subsidies. Every hour through Mpesa there’s 2 billion that’s been transacted.
It took 40 years to get to financial inclusion. What happened in the last decade that allowed us to be equal? What has changed?
The cost – 1kb – cost a dollar and now 20 cents.
Mobile money transactions as of 2019 were at 1.5 million transactions and moved to 3 trillion transactions in 2020. The Role of Digital Solutions In Improving Financial Inclusion.
Financial inclusion pillars.
– Access
– Usage
– Quality
– Welfare
There is potential in SMSs if we support them. 80/90% of our jobs in the country go through SMS’s. When you have a framework, it allows innovation Shift your mind from just credit to financial growth. You either have to manage technology or else technology will manage you.
Mr. Sanjay Rughani
Chief Executive Officer
Standard Chartered Bank Tanzania Limited
Sanjay was appointed CEO for Standard Chartered Bank Tanzania Limited, one of the country’s largest private sector banks, in January 2016.
He joined Standard Chartered Bank in 1999 and has held various key positions with the bank which include Interim Head – Global Finance Shared Services (FSSC), Head of Finance Operations & Change Management – Africa, Executive Director Finance for Ghana and Area, CFO (Ghana, Gambia, Sierra Leone and Cote de Ivoire), Executive Director Finance for SCB Tanzania and Regional Finance Manager for Africa based out of London, UK.
Sanjay’s professional credentials and qualifications include being a Chartered Accountant, an ACCA member, MBA in Finance, a Fellow of Institute of Information Management Africa (Nigeria), Management post-graduation in HRD and a Bachelor of Commerce.
In addition to his role Sanjay also holds important governance representations key amongst them include being Chairman of CEO Round Table Tanzania, Vice Chairperson for Tanzania Bankers Association, Executive Member of Tanzania National Business Council, Trustees of
UDOM Endowment Fund, Non-Executive Director Association of Tanzanian Employers and Chair of the Professional Accountants in Business Committee (PAIBC) for International Federation of Accountants (IFAC).
His past engagements include being founder member of FSSC forum in Kenya, Non-executive Director Standard Chartered Bank Uganda, past Chairman of Ghana Business Coalition against HIV & AIDS (GBCA) and past President of Lincoln Community School (American International School in Ghana).
He is a Tanzanian national. Sanjay is married and has two children (a son and a daughter). His personal hobbies include photography, reading, travelling, following sports (particularly football, tennis and cricket) and community services.
