Adding complementary value to workers’ lives by offering relevant financial services solutions, offered either directly by TEBA, or through partnerships with Ubank and The Best Funeral Society (The Best).
Convenient access to basic banking services through TEBA Ubank agency offices. Essential banking services offered:
Savings accounts.
Cash withdrawals.
TEBA is also permitted to open bank accounts for beneficiary payments and to provide a Paymaster function on request.
Deferred payments: TEBA offers employees from Mozambique and Lesotho a choice of safe, quick and convenient methods to access their deferred pay.
Cash remittance services: Facilities that make it possible for urban workers to send cash to their families via any rural TEBA office.
Workers who have a TEBA industry number can apply for a funeral policy at discounted preferential premiums through The Best. The policy is underwritten by Hollard. Tailored benefits include, but are not limited to:
A body repatriation benefit for deceased mineworkers.
No waiting period in the case of accidental death.
Cover for workers from 18 to 64 years of age.
Funeral benefits for up to five children.
Value-added benefits such as airtime, access to transport, and food.
A fixed premium that does not increase year-on-year.