Church bank to increase capital base

NIC Bank Tanzania will benefit from Tzs 8.5 Billion of additional capital from the Bank’s shareholders. The funds will be disseminated in two tranches of Tzs 5.8B with the injection of additional capital from NIC Bank Kenya already done in December 2013, with the Tzs 2.7B balance from the other local shareholders of NIC Bank Tanzania expected within a period of 6 months but no later than June 2014.

“A growing financial need in this market has required that NIC Bank Tanzania further grow...

Somalia’s Al-Qaeda-affiliated Shebab militants rammed a suicide car bomb into an African Union base Tuesday before storming the compound, with witnesses reporting many dead, although the AU insisted it had fought off the attack.

Fishermen smile all the way to the bank as stocks increase  The Citizen Daily

 CRDB Bank has pledged to honour collective bargaining agreement aimed at improving working conditions.

NIC Bank Tanzania has received Sh8.5 billion additional capital from its shareholders as the four-year old financial entity seeks to augment its lending capacity to incorporate Small and Medium Enterprises (SMEs) customer segments.

An industrial bank is needed to address capital woes among manufacturers, it has been proposed.

Lack of capital has been the biggest hurdle holding back local businesses

 

-This represents a major vote of confidence in AfrAsia business model

 AfrAsia Bank Limited (http://www.afrasiabank.com/en)  today announced the addition of an important world-class strategic partner, National Bank of Canada, to its shareholding structure.   This represents a major vote of confidence in its business model, financial standing and unique positioning in regional and international markets. National Bank of Canada will immediately acquire a 9.5% stake in AfrAsia Bank, with the...

 Ajmair Riaz, Country Head of Retail Banking, Standard Chartered Bank Tanzania.***************************Monday 18 th May 2020 – Standard Chartered Bank Tanzania has become the first Bank in Tanzania to announce relief measures for its Individual and Business Clients whose income and cash flows have been affected by the COVID-19 pandemic.
In a statement issued by the Bank, Mr. Ajmair Riaz, the Bank’s Country Head of Retail Banking, said that his team has been working very...